By Steven D. Miller
The U.S. Constitution grants ONLY to Congress the right to make lawful money* of the United States, and the authority to regulate the value thereof. The Federal Reserve Bank was NOT delegated this authority. The value of the Federal Reserve dollar is now less than 2% of a lawful dollar of the United States. People need to wake up to the truth.
* The United States went bankrupt in 1933 and our lawful money was seized. The U.S. cannot own assets. Federal Reserve Notes did not become lawful money until Jan 30, 1934 (48 Stat. 337).
For the entire history of the United States we have known that ignorant people will be the cause of our downfall:
All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.”
— John Adams, letter to Thomas Jefferson, August 25, 1787
United States Supreme Court ADDERLEY v. FLORIDA, 385 US 39 (1966):
“Where would we really find the principal danger to civil liberty in a republic? Not in the governors as governors, not in the governed as governed, but in the governed unequipped to function as governors. The chief enemies of republican freedom are mental sloth, conformity, bigotry, superstition, credulity, monopoly in the market of ideas, and utter, benighted ignorance. Relying as it does on the consent of the governed, representative government cannot succeed unless the community receives enough information to grasp public issues and make sensible decisions.”
The definition of capitalism keeps changing. Capitalism is the right to keep, spend, or invest your own money. The means of production are yours. No one else makes your decisions or impairs the obligation of your contracts. The United States does not have capitalism anymore. If someone can claim a portion of your paycheck, then you are not living under capitalism. You are a slave.
Prove it to yourself– just try to run a lemonade stand and notice how fast someone tries to impair your contracts, increase your costs, or make your decisions for you. And No. Public safety is not a reason to restrict you. The original food laws were not even written laws, they were an assumed contract that you would sell only wholesome food. It was then up to a jury of your peers to determine violations and award damages. Public safety could restrict a right “only to prevent grave and immediate damage to interests the state could lawfully protect”.
Some people think capitalism is cronyism or corporatocracy. Some people think “Capitalism enables the richest few to control everything for their sole benefit.” Liberals are fooled into thinking that “the one percent” are evil corporate manipulators that cause all of society’s dysfunction. And they believe that a national banking system — as required by the fifth plank of the Communist Manifesto — is a necessary infrastructure as benign as Jimmy Stewart’s Bedford Savings and Loan in the movie It’s a Wonderful Life.
The truth is that America has not had capitalism since The Federal Reserve Act of 1913.
Society’s dysfunction has a cause. It is caused by sin. Yes, there are evil corporate manipulators. Yes, they influence Congress. Greedy people are fraudulently manipulated by Globalists into demanding that Congress play God. The socialists think “Efficient rationing by the State would allow everyone to have the ability to get everything they need.” — as if they could morally force others to take care of their needs.
In Capitalism greed is optional. Greed and covetousness are a choice by those so inclined. But in socialism greed is required. Warning: No form of collectivism can recognize individual rights.
And forced charity is not charity. It is theft. Forced welfare is theft. In Webster’s dictionary first edition the very definition of religion as a pious duty “consisting in the performance of all known duties to God and our fellow men”. To love our neighbors. Welfare for individuals is NOT a government function.
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Usury is still illegal. Thou shalt not lend upon usury. But you agreed to be the collateral for the national debt, which is now unpayable.
Usury is an abomination according to Ezekiel 18:13.
You have no right to accept or charge interest. Interest is a government granted privilege that is granted by the U.S. Supreme Court in 1913 contrary to Biblical principles. The borrower is a slave to the lender (Proverbs 22:7). One percent interest is usury (Nehemiah 5:10-11). A Bible believer will never accept usury (Psalms 15:5, Ezekiel 18:13) or charge usury (Deuteronomy 23:19-20, Exodus 22:25). It is a curse upon the land Isaiah 24:2-3. Punished by death Ezekiel 18:13. In your own country, up until 1694, accepting or paying interest was a punishable crime. Government incorporated banks can give usury. In order to do this they need an SSN so that they can tax this government granted privilege. You might still be able to get a non-interest checking account without a number. By the way, Private banks can pay interest too, but they must pay a 10% tax for this government granted privilege (see Veazie Bank v. Fenno 75 US 533).
Note: The very same unchanging Jesus Christ who said that not one jot nor tittle shall fall from the law also told the parable of the ten talents in which a master used sarcasm to rebuke an unprofitable servant. Luke 19:23. Sarcasm does not authorize usury. He was saying (my paraphrase): “So you think I’m a hardened criminal who reaps what he doesn’t sow, why then didn’t you go all the way and commit the crime of usury by depositing my money in a bank.”
Paying or collecting interest is still the crime of usury. But it is no longer punishable for those who want government to protect them from God’s laws. The U.S. Supreme Court ruled in a 1913 case, German Alliance Insurance Co. v. Kansas, 233 U.S. 389 at page 432 that
“Moreover, interest laws were in their inception not a restriction upon the right of contract but an enlargement, permitting what theretofore had been regarded both as an ecclesiastical and civil offense. … they therefore fall within the rule that contemporary practice, if subsequently continued and universally acquiesced in, amounts to an interpretation of the Constitution.”
How do you like that? By turning our backs to an unchanging God we’ve let criminals, (theretofore regarded as a crime), now unpunishable, interpret our Constitution for us. This Supreme Court case paved the way, later in 1913, for Congress to pass the Federal Reserve Act, which sealed our doom.
The Supreme Court had to rule this way because they don’t interpret your Constitution. They are just servants. Their masters (we the people) determine the law. If the people are Christian, we will have Christian law, if the people are worldly, we will accept evil law1. Which law do you accept?
1. When asked why Congress was so corrupt, Lincoln replied “You cannot dip clean water from a muddy river.”
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Banks destroyed the Constitution
Here is Thomas Jefferson’s essay on the Constitutionality of a National Bank. https://avalon.law.yale.edu/18th_century/bank-tj.asp
The word “federal” does not appear in the U.S. Constitution. Federal means by agreement.
Federal Reserve Notes are debt. They are IOUs. The Constitution prohibits government from emitting bills of credit. You cannot discharge a debt by paying with another debt Note.
The Constitution requires Gold and Silver coin to be our only lawful money. Government backed paper money did not exist until the Civil War. Under martial law military script is circulated as money. Under martial law, you can pay a debt with another debt if Congress says it discharges debts. The power to issue legal tender paper money was first declared constitutional as a war measure under an implied military power. Read the Legal Tender Cases, 12 Wall 457.
Federal Reserve notes are borrowed into circulation. As the debt gets paid, the IOUs are redeemed for lawful money. As a comparison: postage stamps are purchased into circulation.
The money in your pocket is issued by a private bank. The money in your pocket is NOT issued by a government. The Federal Reserve Bank is not federal. The Federal Reserve Bank is a private corporation. See Lewis v. Federal Reserve. (Link: http://law.justia.com/cases/federal/appellate-courts/F2/680/1239/200393/ ). Federal Courts know the Federal Reserve is not federal. The Federal Reserve is owned by the Class A member banks, who are in-turn ultimately owned by 10 European families.
The fifth plank of the Communist Manifesto requires creation of a national bank. In freedom loving countries, centralized banks have been forbidden since before Moses came down from the mountain and saw a golden calf.
Government backed paper money did not exist until the Civil War. The Constitution still prohibits government from emitting bills of credit. It is martial law that authorizes paper money. The paper money fiat currency in your pocket can only exist under martial law.
Article 1 section 10 still prohibits government from emitting bills of credit. Article 1, section 8 still requires government to pay their debts in gold and silver coin.
For more information on the Martial Law money in your pocket: follow the laws back to the beginning:
During the Civil War, President Lincoln as Commander in Chief, Proclamation No. 3, April 15, 1861, 12 Stat 1258; AND Proclamation No. 7, May 10, 1861, 12 Stat. 1260 the purpose of the National-Bank Act 13 Stat 99 was to put National Bank Association notes, backed by their pledges of U.S. Treasury bonds into circulation.
The National-Bank Act “An act to provide a national currency secured by a pledge of United States Bonds and to provide for the circulation and redemption thereof” Approved June 3rd, 1864. Ch. 106, 13 Stat 99.
The 14th Amendment, section 4 “the validity of the public debt shall not be questioned”. This keeps us from auditing the Federal Reserve.
The Act of June 20, .1874, c. 343, v 18, p 123.
The National Bank Act, Revised Statutes of the United States section 5133 (1875)
Federal Reserve Act, December 23, 1913, Ch.6, section 2, 38 Stat (Part1)251.
Legal Tender Cases Knox v. Lee & Parker v. Davis (1870) 79 US 457
Legal Tender Cases Julliard v. Greenman (1884) 110 US 449
Veazie Bank v. Fenno (1859) 75 US 533.
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Banks are the enemy of the U.S. Treasury
Congress was once very aware of the bankers hostile takeover of the U.S.
Just look at the portraits we force the Federal Reserve Bank to print on their fiat currency.
Each portrait is of someone who had a message of warning. THEY WARNED YOU. You were warned that banks are your enemy who will destroy you.
George Washington (portrait on the one dollar bill):
If “…we should unfortunately stumble again on unfunded paper money, or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”– January 9, 1787, in a letter to Jabez Bowen, Deputy Governor of the State of Rhode Island
Thomas Jefferson (portrait on the $2 bill):
And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” — in a letter to John Taylor , May 28, 1816, in Ford, 10:31
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.” — Thomas Jefferson to John Wayles Eppes, September 11, 1813, in PTJ:RS, 6:494.
Andrew Jackson (portrait on the $20 bill):
Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.”– — Andrew Jackson, 1836, revoking the charter of the Second Bank of the U.S.
“You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”
— Andrew Jackson address to a delegation of bankers discussing the recharter of the Second Bank of the United States, 1832
Andrew Jackson survived several attempted assassinations by agents of the Bank of England because he opposed a central bank.
Abe Lincoln (portrait on the $5 bill):
I have two great enemies, the southern army in front of me and the financial institutions, in the rear. Of the two, the one in the rear is the greatest enemy…. The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country; As a result of the war, corporations have been enthroned, an era of corruption in High Places will follow, and the Money Power of the Country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war”
— November 21, 1864, letter to Col. William F. Elkins upon passage of the National Banking Act of 1863.
Abe Lincoln was the first Republican President. The Party of Lincoln created economic reforms that could end slavery, so there would be no need for laws that provide greedy people with the products of forced labor*. The bankers killed Abe on April 15th and they celebrate their conquest on that date every year.
Are there any laws to provide greedy people with the results of your labor? If so, then you are a slave.
Chief Justice John Marshall (portrait on the $500 bill).
He made the decision in bank case McCulloch v. Maryland that States can tax state chartered banks.
James Madison (portrait on the $5000 bill):
… war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes…known instruments for bringing the many under the domination of the few. . . . No nation could preserve its freedom in the midst of continual warfare.” – James Madison, Political Observations, 1795
History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” — James Madison
a public debt is a public curse, and in a Republican Government a greater curse than any other” — James Madison, Federalist Paper 10.
Salmon Chase, Lincoln’s Secretary of the Treasury (portrait on the $10,000 bill) later became Chief Justice of the Supreme Court where he ruled that:
The legal tender quality [of paper money] is only valuable for the purposes of dishonesty.” — as Chief Justice in dissent of Knox vs. Lee (The Legal Tender Cases, 1871):
President Wilson apologized for being deceived into backing the Federal Reserve Act (we force the Federal Reserve to put his portrait on the $100,000 bill)
A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world, no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
What part don’t you understand?
Napoleon Bonaparte, 1815:
When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”
Otto von Bismarck, German Chancellor, after the Lincoln assassination:
The death of Lincoln was a disaster … the bankers went anew to grab the riches. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to systematically corrupt modern civilization.”
In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought… The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic process. We should take nothing for granted. ” — President Eisenhower’s farewell address to the American people, January 17, 1961
President Kennedy, although he was put into power by bankers because his pro-Nazi father was a successful profiteer, turned on the bankers and tried to save the nation. On June 4, 1963 he signed Executive Order 11110 to restrict the Federal Reserve from lending money to government at interest, and authorized the Treasury to issue currency without borrowing from the Federal Reserve. LBJ’s first action as President was to cancel the Executive Order.
Congressman Charles A. Lindberg Sr. in 1913:
From now on, depressions will be scientifically created. The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”
What part don’t you understand?
YES, you were warned that banks are your enemy who will destroy us. We once elected brave leaders who would protect us from them. We put the portraits on our money in order to remind us of their warnings.
Never let a liberal tell you that banking is capitalism. It is the opposite of capitalism. A central bank is the fifth plank of the Communist Manifesto.
Obama’s appointments to the Treasury are all former Federal Reserve managers. We now have bank robbers in charge of the banks.
Link: 25 FAST FACTS ABOUT THE FEDERAL RESERVE http://theeconomiccollapseblog.com/archives/25-fast-facts-about-the-federal-reserve-please-share-with-everyone-you-know
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Question: Why did your government force banks to lend mortgages to people who could not possibly repay?
Answer: The economic collapse occurred only because Congress wanted it.
If you want to understand who controls the economy, and understand the depth of the deception needed to hide the secret of who controls the economy watch this video of a Congressional Hearing asking the Federal Reserve’s Inspector General about off-the-book losses. No one at the Federal Reserve is keeping track of a $9 Trillion bailout.
In 1976 British Prime Minister Margaret Thatcher had a television interview where she spoke about socialism. Feb. 5, 1976:
“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”
The U.S. Supreme Court ruled in a 1913 case, German Alliance Insurance Co. v. Kansas that usury, although still a crime, is now unpunishable. Quoted above in the article on usury.
DON’T BLAME CAPITALISM
Socialists want to blame capitalism for our problems. But they don’t even use the basic definitions. There has not been capitalism in America since 1933. The problems they attribute to so-called “capitalism” are actually caused by (1) an illegal banking system, and (2) Roosevelt socialism, and (3) deception (and our failure to avoid it — caveat emptor)1, and (4) court’s avoiding their responsibility to enforce your contracts. Those who are overthrowing your government caused all of these. They want to blame large corporations. But, corporations are not mentioned in the U.S. Constitution because All corporations must be State corporations2.
Their plans to implement Marxist socialism have remained the same ever since 1913 when they passed the Federal Reserve Act and the Income Tax Amendment.
This is a segment of the cartoon entitled “Planned Economy or Planned Destruction?” was from a 1934 Chicago Tribune, right after they took our gold, and while the Social Security Act was being debated.
Capitalism cannot return to America until (1) we have Constitutional money (gold coins) in our pockets, and (2) everyone can open interest-free bank account without first getting a banking authorization number from government. And (3) No State can impair the obligation of contracts.
BRIEF HISTORY OF BANKING.
Usury laws in early America were once based on divine revealed laws of the Bible.
Bear with me as I try to explain why banking is still illegal in America.
CONSTITUTIONAL LAW. It remains unconstitutional according to Article 1 section 10 for government to emit bills of credit. It remains unconstitutional, under this same clause, to make any thing but gold or silver coins a legal tender.
Government protects rights. You never had a right to accept or charge interest. Interest is only a government granted privilege that is granted contrary to Biblical and moral principles. The borrower is a slave to the lender (Proverbs 22:7). One percent interest is usury (Nehemiah 5:10-11). A Bible believer will never accept usury (Psalms 15:5, Ezekiel 18:13) or charge usury (Deut 23:19-20, Exodus 22:25). Punishable by death Ezekiel 18:13. (And NO this did not change. The unchanging Jesus Christ who said that not one jot nor tittle shall fall from the law, also used sarcasm in Luke 19:23 to rebuke an unprofitable servant in the parable of the ten talents)
In America, up until 1694, accepting or paying interest was a punishable crime.
Government incorporated banks can now give usury. By the way, Private banks can pay interest too, but ever since 1869 they must also pay a 10% tax for this government granted privilege (see Veazie Bank v. Fenno 75 US 533). This is why there are no private banks left, other than the Federal Reserve Bank.
1848 COMMUNIST MANIFESTO
A central banking system is the fifth plank of The Communist Manifesto. No one thought a central bank would ever be possible in America. After all, our Constitution prohibits government from emitting bills of credit.
Yet, today’s Socialists equate this plank of Communism with Capitalism. Then they suggest that more socialism is the solution to the problems they caused.
90% of Communist power structure is in the banks, according to Lenin.
Vladimir Lenin, 1917 pamphlet Will the Bolsheviks Retain State Power?:
“Without big banks socialism would be impossible. The big banks are the state apparatus which we need to bring about socialsim, and which we take ready-made from capitalism; our task here is merely to lop off what capitalistically mutilates this excellent apparatus, to make it even bigger, even more democrtic, even more comprehensive. Quantity will be transformed into quality. A single State Bank, the biggest of the big, with branches in every rural district, in every factory, will constitute as much as nine-tenths of the socialist apparatus. This will be country wide bookkeeping, country wide accounting of the production and distribution of goods, this will be, so to speak, something in the nature of the skeleton of socialist society. We can lay hold of and set in motion this state apparatus (which will be fully a state apparatus under socialism) at one stroke, by a single decree, because the actual work of bookkeeping, control, registering, accounting, and counting is performed by employees, the majority of whom themselves lead a proletarian or semi-proletarian existence. “
Perhaps you’ve notice that today’s U.S. socialist apparatus of the state (IRS, Federal Reserve, and Socialist Security) does all “bookkeeping, control, registering, accounting, and counting” of the means of production and the redistribution of wealth.
1913 SUPREME COURT DECISION.
Paying or collecting interest is still the crime of usury. But it is no longer punishable for those who apply for government protection from God’s laws. The US Supreme Court ruled in a 1913 case, German Alliance Insurance Co. v. Kansas 233 US 389 at page 432 that
Moreover, interest laws were in their inception not a restriction upon the right of contract but an enlargement, permitting what theretofore had been regarded both as an ecclesiastical and civil offense. … they therefore fall within the rule that contemporary practice, if subsequently continued and universally acquiesced in, amounts to an interpretation of the Constitution.”
How do you like that? By turning our backs on moral principles we’ve let criminals, — “what theretofore had been regarded as” a crime — interpret our Constitution for us. This Supreme Court case paved the way, later in 1913, for Congress to pass the Federal Reserve Act, which sealed our doom.
1913, PRESIDENT WILSON’S CONSPIRACY THEORY
The same year that the Federal Reserve Act was passed under questionable circumstances.
Woodrow Wilson in his book, THE NEW FREEDOM page 13:
Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.”
“They know that America is not a place of which it can be said, as it used to be, that a man may choose his own calling and pursue it just as far as his abilities enable him to pursue it; because to-day, if he enters certain fields, there are organizations which will use means against him that will prevent his building up a business which they do not want to have built up; organizations that will see to it that the ground is cut from under him and the markets shut against him. For if he begins to sell to certain retail dealers, to any retail dealers, the monopoly will refuse to sell to those dealers, and those dealers, afraid, will not buy the new man’s wares.”
1914 FEDERAL RESERVE
In 1913, after a trip to Jekyll Island with Senator Aldridge, corrupt bankers convinced six congressmen to create a privately owned Federal Reserve System, which they passed into law when nobody was looking.
Yes, the Federal Reserve Bank is a privately owned corporation. It is not a government agency. Federal Courts refuse to treat it as a federal agency. It is owned by the Class A stockholders of the member banks. But 10 European families ultimately own the member banks.
When they collapsed the economy in 1933, the U.S. government went bankrupt and had to turn over all collateral to the Federal Reserve for the debts we owed. The Secretary of the Treasury was assigned to run the bankruptcy receivership for the Federal Reserve Bank. Then in 1935, to receive bail-out funds, they created the Social Security System, which turns ourselves over to the Federal Reserve as collateral.
The Federal Reserve banks deliberately caused the 1929 stock market crash. Followed by the Great Depression.
1932-33: Banking promoted farm loans to create the Dust Bowl famine.
1935 Social Security was implemented by a Congress that didn’t understand what was going on, but relied on the promises of the Roosevelt socialists.
1947 CENTRAL INTELLIGENCE AGENCY
Debt based currency (unlike the gold and silver required by the Constitution) must have a continually expanding monetary base or it will collapse. The CIA was created in 1947 to delay the inevitable collapse of the corrupt banking system.
The National Security Act of 1947 was written by a bank lawyer Clark Clifford, but it was designed by brothers John Foster Dulles and Allen Dulles, Wall Street lawyers who collaborated with the writing of the bill.
Clark Clifford was good friends with Truman and the Kennedy family. He was instrumental in bringing BCCI to America. He served as White House counsel under Truman and was Defense Secretary under LBJ.
John Foster Dulles and Allen Dulles were both Wall Street lawyers at the prestigious law firm Sullivan and Cromwell — The single most powerful firm on Wall Street. (the firm that represented Enron)
Allen Dulles was CIA director under JFK, until JFK fired him. Allen ended up running the Warren Commission investigation of the Kennedy assassination.
HISTORY OF THE CLINTON MORTGAGE BUBBLE
In order to “bring the American Dream of home ownership to everyone” Bill Clinton in his first month in office (after he sodomized the military) forced mortgage lenders to make risky loans to people who could not pay — Then in 1994 he asked for an official HUD policy which became known as —“The National Homeownership Strategy: Partners in the American Dream”
According to a Newsweek article, this HUD policy:
shows that his administration went to ridiculous lengths to increase the national homeownership rate. It promoted paper-thin downpayments and pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes. It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place.”
This policy created an artificially inflated bubble that more than doubled the housing prices.
High-risk Mortgage backed securities were purchased from small local banks by government-backed banks, so that the small banks would continue the practice of lending to people who could not repay. Clinton was forcing Fannie-Mae (founded in 1938 during FDRs great depression) and Freddie-Mac (created by LBJ administration to expand the secondary market for mortgages) to purchase these risky mortgages. Obama often mentions “the failed economic policies of the past” when referring to the Bush presidency. But Obama was senator in 2007 when his own party controlled both the House and the Senate and refused to lessen the excesses of Fannie and Freddie.
Clinton was also responsible for the NAFTA treaty to eliminate manufacturing jobs and make America a colony of the foreign banks.
Larry Summers, Secretary of Treasury under Clinton’s last 1½ year as President, presided over the 1999 destruction of most of the Glass-Steagall Act (the same Act that created the FDIC). The part dismantled will allow banks to also act as investment firms, insurance companies and Bank Holding Companies. The authority to lend money that they cannot back is now unlimited.
Tim Geithner was president of the NY Federal Reserve Bank when he collaborated with Larry Summers to destroy the Glass-Steagall Act so that banks could gamble with your money.
Then, in Clinton’s last month in office (after it was certain that Gore had lost the election) he pushed through a final piece of legislation to authorize financial derivatives known as Credit Default Swaps. Here is a CBS News segment on credit default swaps
http://www.cbsnews.com/video/watch/?id=5274961n Congress knew it was risky to repeal the protections they created after they caused a Wall Street collapse in 1907.
Fannie-Mae and Freddie-Mac were forced to back mortgage loans of people who lied on their loan applications to get low interest Adjustable Rate Mortgages. With all the new homebuyers drying up the available housing, the housing prices doubled. Then the sub-prime bubble collapsed when interest rates increased. To understand the real cost of this Clinton policy, here is another CBS News video.
Don’t call it Capitalism.
There were many curious events that occurred after it became obvious that we could never pay the national debt.
Our intent was openly and notoriously broadcast.
Clinton refused to balance the budget until a Republican congress forced him to. The public whining about “the Republicans shut down the government” was not political squabbling. This was when the foreign owners withdrew 4 Trillion dollars from the Federal Reserve Bank.
Title 31, US Code of Federal Regulations stopped printing chapter 3. It is now impossible to find out what departments are officially in the U.S. Treasury.
Checks written to pay Income tax were no longer made out to Internal Revenue Service, they were now made directly the US Treasury. (Hint: the foreign IRS now owns the Treasury)
The GATT Treaty negotiations were held in Uruguay. They wanted more collateral for the National Debt. They decided that US Taxpayers had to get Social Security Numbers for their children if children are claimed as dependents. This started the enumeration-at-birth policy.
After President Carter gave away our Canal Zone in 1997, complete control was handed over in 1999. Communist shipping companies now control both ends of the canal.
2008 IMPLOSION OF THE BANKS
Then during the 2008 presidential campaign, just as McCain was ahead in the polls, someone deliberately collapsed the economy [source]. This attack was apparently associated with the Rothschild’s backing of Obama. [Source]
Pelosi referred to this deliberate toppling of the banking industry as “failed Bush economic policy”, then she quadrupled government spending above the 2007 Bush budget after Bush had already tripled the size of government.
All the bank’s wealth that had backed these derivatives ended up with those who knew when the economy would be toppled.
Then the Pelosi congress determined that the larger banks that they bled dry were “too big to fail”.
The banking industry lost their assets by backing real assets with worse-than-useless Clinton era Credit Default Swaps (they same way they caused the 1907 collapse — see the CBS video linked above). The banks that were too-big-to-fail were then bailed out with your future tax money, by government borrowing money from foreign banks, most of which comes from Communist China.
The collapse and bail-out cost us $9 Trillion. Some have estimated $60 Trillion in hidden costs.
And now we are told that most TARP funds will not be returned.
How can you claim that there is no planned destruction of America?
THE OBAMA DECEPTIONS
Woodrow Wilson, once warned that we should not put robbers in charge of banks — And Obama had robbers running the bank.
Obama appointed Tim Geithner as Secretary of the Treasury. Obama’s Treasury Department, for the first time in history, consisted solely of appointments made from former Federal Reserve people. The Treasury, whose function was to oversee and control the currency, is now controlled ONLY by the bank’s insiders. Completely Contrary to all the above warnings.
After a few more economic spasms, the death of the Republic which Washington, Jefferson, Madison, Jackson, Lincoln, Wilson, Eisenhower and JFK warned us about, will become history. The final fall will be a quick one. Revelation 18 predicted, “in one hour shall thy destruction come”.
Now go read the government’s definition of allegiance in my article on slavery and find out how you are going to pay your fair share of the national debt. Those empty cities in China are there for a reason. They are there to collect the collateral you pledged “as a chargeback for our fiat paper currency” [as quoted in the slavery article] And don’t forget the hundreds of little communist towns around the U.S.
Don’t claim to live in a free country if you have never seen freedom.
1. Footnote: While I’m on the topic of avoiding deception, and the topic of bank interest, I want to point out that paying interest was no longer punishable after 1913, but it is still illegal and it is never a right. You waive your rights by paying interest to a bank. Interest is a government granted privilege, granted only to those who seek protection from their own immoral decisions. If a house is purchased through usury, the government owns it, even after the loan is paid.
2. Federal Tribunals were constituted under Article I section 8 clause 9 with criminal jurisdiction over State Citizens for the three crimes mentioned in the Constitution. There is no constitutional authority State Citizen’s civil cases (later confirmed by the 11th Amendment). The 1789 Judiciary Act section 25, 1 Stat. 85, created inferior federal tribunals and left civil cases exclusively to state courts. Appeal to federal courts was possible only if there was an issue of Constitutionality, or treaty rights. There was therefore no recourse for corporations who wanted to operate across state borders, until corporations became 14th Amendment citizens.
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My essay on corporatocracy.
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Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider
War Cycles, Peace Cycles by Richard Hoskins
Usury: Destroyer of Nations by S. C. Mooney