Posts Tagged ‘great depression’
Greetings!
From David’s Desk
Gold is now consolidating its back-to-back new record highs that it made in May and June. Gold is building a strong base and the short, intermediate and long-term indicators are very bullish. Gold is setting its sights on $1,350. However, it won’t be a straight line up. There will be zigs and zags higher. Important support lies at $1,212 followed by $1,149 but I think the odds of testing these lows are remote.
Let’s get a loan
One of the topics that I’ve covered is that M-3 is collapsing because the banks are parking their funds in Treasuries instead of making loans. But there is a difference between making an “abstract” statement like that, and actually going out and applying for a loan.
Since I started Miles Franklin, 20 years ago, I have never taken out a business loan and other than the mortgage on our house, haven’t taken out a personal loan either. Recently, I needed some extra cash and considered selling some of my mining shares or precious metals to raise the funds. I decided that it was a foolish way to raise the cash, since I expect the price of these assets to rise dramatically in the next 12 months, so I paid my banker a visit. I am a highly qualified applicant. My company runs around $100 million a year through the bank, and I have been a customer there, with both personal and business accounts, for the past six years. My credit is unblemished. My net worth and salary are well beyond what is necessary for the size of the loan, plus, I have lots of collateral to cover the loan.
I sat down with the President of the bank, who I know personally. He worked directly with me six years ago when I took out a $450,000 pre-construction loan on the house Susan and I were building. We had a friendly conversation, I gave him all of the paper work that I had filled out in advance, including my last two years tax returns, both personal and corporate, and I even offered to give him, on the spot, his choice of stock certificates or physical gold to fully cover the amount of the loan I was asking for.
By Patrick Wood, Editor
March 2, 2010
Introduction
According to the United Nations Governing Council of the UN Environmental Programme (UNEP), “our dominant economic model may thus be termed a ‘brown economy.” UNEP’s clearly stated goal is to overturn the “brown economy” and replace it with a “green economy”:
“A green economy implies the decoupling of resource use and environmental impacts from economic growth… These investments, both public and private, provide the mechanism for the reconfiguration of businesses, infrastructure and institutions, and for the adoption of sustainable consumption and production processes.” [p. 2]
Sustainable consumption? Reconfiguring businesses, infrastructure and institutions? What do these words mean? They do not mean merely reshuffling the existing order, but rather replacing it with a completely new economic system, one that has never before been seen or used in the history of the world.
This paper will demonstrate that the current crisis of capitalism is being used to implement a radical new economic system that will completely supplant it. This is not some new idea created in the bowels of the United Nations: It is a revitalized implementation of Technocracy that was thoroughly repudiated by the American public in 1933, in the middle of the Great Depression.
The Technocrats have resurfaced, and they do not intend to fail a second time. Whether or not they succeed this time will depend upon the intended servants of Technocracy, the citizens of the world.
Indeed, the dark horse of the New World Order is not Communism, Socialism or Fascism. It is Technocracy.
By Ellen Brown
While bank bailouts fatten Wall Street, states continue to battle the credit crisis. In the search for innovative solutions, some political candidates are proposing that states generate their own credit by setting up their own banks.
State budgets for 2010 face the largest shortfalls on record, totaling $194 billion or 28 percent of state budgets; and 2011 is expected to be worse. Unemployment has already officially hit 10 percent, and many economists expect it to rise higher. Continued high unemployment will keep state income tax receipts at low levels and increase demand for Medicaid and other essential services states provide. The existing alternatives are spending cuts or tax increases, but both will just serve to make the downturn deeper. When states cut spending, they lay off employees, cancel contracts with vendors, eliminate or lower payments to businesses and nonprofit organizations that provide direct services, and cut benefit payments to individuals. The result is a reduction in overall demand. Tax increases also remove demand, by reducing the amount of money people have to spend.
Posted on 2010 02, 16 by duo
By Thomas Mullen
It is still a tiny minority who understand that central banking is a collectivist institution that is completely hostile to liberty. It is, by definition, an instrument of theft that purports to stabilize economic conditions for the collective by controlling the supply of money and credit. The fact that its only means to do so is to steal from savers to finance well-connected borrowers is a seldom-mentioned detail. That people only use the central bank’s currency because they are forced to do so by legal tender laws is spoken of even less. In this late stage of the Age of Government, the rights to liberty and property are expendable as our rulers “get the work of the American people done.”
Hopefully, the question of whether there should be a Federal Reserve will be on the table soon. However, once one concedes the existence of the Fed, there is a further question to ask: Can it do what it purports to do?
1934 Expose of the Fed
On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON. The petition for Articles of Impeachmentas thereafter referred to the Judiciary Committee and has YET TO BE ACTED ON.
So, this ELECTRONIC BOOKLET should be reprinted, reposted, set up on web pages and circulated far and wide.
Contents
- Congressman McFadden’s Speech On the Federal Reserve Corporation
- Federal Reserve-A Corrupt Institution
- President Jackson’s Time
- Great Depression
- Scheme of the Fed
- Money for the Scottish Distillers
- United States Has Been Ransacked
- Spurious Securities
- Bankers’ Acceptance Racket
- John Law Swindle
- Ivar Kreuger, the Match King!
- Thieves Go Scot Free
- FiatMoney
- World Enslavement Planned
- Great Britain, Partner in Blackmail
- Roosevelt and the International Bankers
- Roosevelt Seizes the Gold
- Dictatorship
- Roosevelt’s Two Kinds of Laws
- Enemies of the People They Rob
- FDR Will Not Investigate the Fed
- Conspiracy of War Debts
- Let the Fed Meet Their Own Obligations
- Federal Reserve Pays No Taxes
- Preferred Treatment for Foreigners
- Crimes and Criminals – Charges
Congressman McFadden’s Speech On the Federal Reserve Corporation
This is a VERY good read…jude
Global Research E-Newsletter (crgeditor@yahoo.com)
By Prof Michael Hudson
February 2, 2010
If the economy deteriorates in the L-shaped hockey-stick rut that many economists forecast, what political price will President Obama and the Democrats pay for having returned the financial keys to the Bush Republican appointees who gave away the store in the first place? Reappointing Federal Reserve Chairman Ben Bernanke may end up injuring not only the economy but also the Democratic Party for years to come. Recognizing this, Republicans made populist points by opposing his reappointment during the Senate confirmation hearings last Thursday, January 27 the day after Mr. Obamas State of the Union address.
The hearings focused on the Feds role as Wall Streets major lobbyist and deregulator. Despite the fact that its Charter starts off by directing it to promote full employment and stabilize prices, the Fed is anti-labor in practice. Alan Greenspan famously bragged that what has caused quiescence among labor union members when it comes to striking for higher wages or even for better working conditions is the fear of being fired and being unable to meet their mortgage and credit card payments. One paycheck away from homelessness, or a downgraded credit rating leading to soaring interest charges, has become a formula for labor management.
Posted on 2010 01, 20 by duo
By Tom Mullen
I have a friend that tends to express his ideas about everything in the jargon of a securities trader. Of course, this is probably because he has been a very successful trader, both in bull and bear markets, for many years. “Every trend in history, even liberty, can be charted like a stock,” he has often observed. I tend to agree.
By John Byrne
Yesterday, we brought you the insurance company that wouldn’t insure a 17-pound infant because he was too heavy. Today, we bring you the investment bank that manages to double its bonuses during the worst recession since the Great Depression.
On Thursday, Goldman Sachs will announce the firm’s bonus payments for 2009. Analysts expect the bonus pool to mushroom to $23 billion — double the bonus pool paid to employees in 2008. Earlier this year, Goldman Sachs said that it had put aside $11.4 billion for bonuses during the first half of the year.
“The absolute size of compensation payouts will rise significantly,” Keith Horowitz, an analyst at Citigroup, wrote in a note to clients two weeks ago, highlighted by Andrew Sorkin in The New York Times‘ dealbook column Tuesday.
How much is $23,000,000,000?
For one thing, it’s enough to send 460,000 full paying students to Harvard University for one year, or 115,000 for four years.
It’s enough to pay the health insurance premium for the average American family ($13,375) 1.7 million times.
14 SEPTEMBER 2009 BY TPC
We’re at a truly fascinating crossroads in modern economic times. Financial theory as we have come to know it will be changed forever based on the recent actions of Ben Bernanke and global central bankers. Millions of textbooks will be rewritten in the coming 10 years and careers will either flourish or die on the back of the actions of these bankers. Those in favor of Bernanke’s legendary helicopter drop are celebrating a 6 month rally in equities, but a vital piece of the recovery puzzle remains missing. While Bernanke and Co. fire up the printing presses, and the banks sell the recovery hook line and sinker to the investing public, we continue to see very weak consumer trends.
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