Our Founders gave these observations and admonitions regarding banking and currency.
"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson
"Of all the contrivances for cheating the laboring classes of mankind, none has been more effectual than that which deludes them with paper money." – Daniel Webster
"We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no, Sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors, and a ruined people." - Daniel Webster
"Paper money has had the effect in your State [Rhode Island] that it ever will have, to ruin commerce--oppress the honest, and open the door to every species of fraud and injustice." - George Washington
President Andrew Jackson showed principle, leadership and courage on his watch.
Where are such men today?
In discussing the Bank Renewal bill with a delegation of bankers in 1832, Jackson said, "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. I intend to rout you out, and by the eternal God, I will rout you out." - President Andrew Jackson
United States gives up Sovereignty over its Financial System
United States gives up Sovereignty over its Financial System
“We may look back on this and say that the Merkel initiative was one of the most significant things that affected world trade, and did so in a very quiet sort of way. Now, it has to be institutionalized if it is going to survive. There have to be appointments on both sides in Treasury, in Commerce, in Transportation, whatever the issue might be, the Federal Trade Commission, you have to go all the way across the board and say this will be the executive appointed to work on the Merkel initiative from the FDA, this will be the executive at Treasury, so there is a point-man or woman in the key agencies on both sides of the Atlantic to make this work.” - Sen. Bob Bennett
Tulsa Beacon Article - December 9, 2010
“Our debt crisis is a threat to not just our way of life, but our national survival,” Coburn said. “History has not been kind to great nations who borrowed and spent beyond their means. Doing nothing will, sooner rather than later, guarantee that this nation becomes a second-rate power with less opportunity and less freedom. The plan developed by the debt commission, while flawed and incomplete, will help America avoid this fate and secure freedom for future generations.” Coburn and Sen. Mike Crapo, a fiscally conservative Republican from Idaho, will support the package proposed by the National Commission on Fiscal Responsibility. Both serve on the 18-member commission.
“The time for action is now,” Coburn said. “We can’t afford to wait until the next election to begin this process. Long before the skyrocketing cost of entitlements cause our national debt to triple and tax rates to double, our economy may collapse under the weight of this burden. We are already near a precipice. In the near future, we could experience a collapse in the value of the dollar, hyperinflation or other consequences that would force Congress to face a set of choices far more painful than those proposed in this plan.”
Coburn insisted that limited government is still the answer.
“The real choice facing Congress and the American people, however, is not whether to support the commission’s recommendations, but whether we will rediscover the wisdom of our founders and apply the principles of limited government written into our Constitution,” Coburn said. “The debt problem is almost entirely the consequence of growing government far beyond our founders’ intent. This plan is merely a down payment that will begin the process of reforming government at all levels.”
Appenzell Switzerland A Daily Compendium of Free - Market Thought
In fact, the mind-blowing report that the Review is presenting today on its website (for the first time anywhere) sounds credible to us, understanding as we think we do, the memes of the power elite and the reason for their promotion. Click here to read Carbon Currency: A New Beginning for Technocracy?
As a final aside, we are gratified that in this white paper, the August Review also deals with the fraud of peak oil. We are entirely unsurprised that Technocrat M. King Hubbert and his economically illiterate energy concepts manage to slither into the middle of the story that the August Review has to tell. The idea that the market itself would not (and somehow could not) respond to peak oil with new stores of energy is yet another power elite promotion. (Meme: Only government authorities, including the UN, can properly plan energy replacements!)
Conclusion: The August Review's presentation of the apparent planning and purpose behind the carbon scam is yet a further proof of the power of the Internet in our opinion. Between the emails revealing the conspiracy and the more recent revelations of phony research and false numbers (and the Review's seemingly accurate revelations as to where all this is really headed) we think the global warming meme is under extreme duress. Sure, it may stagger along - that's one of the hallmarks of a power elite promotion (it won't die no matter how many holes are shot into it) - but it's very hard to promote a theme or meme that has been discredited. And boy is it being discredited.
Carbon Currency: A New Beginning for Technocracy? - By Patrick Wood, Editor January 26, 2010
"Critics who think that the U.S. dollar will be replaced by some new global currency are perhaps thinking too small.
On the world horizon looms a new global currency that could replace all paper currencies and the economic system upon which they are based.
The new currency, simply called Carbon Currency, is designed to support a revolutionary new economic system based on energy (production, and consumption), instead of price. Our current price-based economic system and its related currencies that have supported capitalism, socialism, fascism and communism, is being herded to the slaughterhouse in order to make way for a new carbon-based world."......
"As founders of the organization and political movement called Technocracy, Inc., Hubbert and Scott also co-authored Technocracy Study Course in 1934. This book serves as the “bible” of Technocracy and is the root document to which most all modern technocratic thinking can be traced."
Free market economists, particularly Austrian economists whom I would argue are the only free market economists, correctly condemn Obama’s massive stimulus package as a colossal redistributive scheme. Politicians and bureaucrats are substituting their preferences for the preferences of productive American citizens; i.e., instead of American citizens deciding how to utilize their hard earned and scarce resources, they are benevolently confiscating resources and dictating how they will be allocated. Moreover, the omniscient politicians and bureaucrats claim that American citizens are behaving irrationally by saving their resources and, as such, the intervention is necessary. They arrogantly proclaim that government consumption, the panacea of intellectually bankrupt Keynesians, is the solution. The politicians and economists are appalled by the rational behavior of American citizens, who correctly reduce their consumption and increase their savings in a difficult economic period, and insolently substitute this apparent erroneous behavior with government consumption.
Blueprint for a Coup - Vicky Davis – September 25, 2009
During the late 1980's through the decade of 1990's, the national policy of supply side economics caused the exportation of - not products - but production. Supply side coupled with the Multinational Investment Agreements (MIA) fraudulently called 'free trade' agreements led to the exodus of business from America leaving us with only brand name corporate facades that are simply import and sales offices. The domino effect of supply side policies has been rippling through our economy ever since. All attempts to "fix" the economy by tweaking various aspects of the economic environment have been dismal failures at best and exacerbations of the problems at worst. Supply side economics reversed our economy. Effectively, we exported wealth and imported poverty.
Can the Economy Recover? - Paul Craig Roberts; July 1, 2009
There is no economy left to recover. The U.S. manufacturing economy was lost to offshoring and free-trade ideology. It was replaced by a mythical "New Economy."
The "New Economy" was based on services. Its artificial life was fed by the Federal Reserve's artificially low interest rates, which produced a real-estate bubble, and by "free market" financial deregulation, which unleashed financial gangsters to new heights of debt leverage and fraudulent financial products.
The real economy was traded away for a make-believe economy. When the make-believe economy collapsed, Americans' wealth in their real estate, pensions and savings collapsed dramatically while their jobs disappeared.
The debt economy caused Americans to leverage their assets. They refinanced their homes and spent the equity. They maxed out numerous credit cards. They worked as many jobs as they could find. Debt expansion and multiple family incomes kept the economy going.
And now suddenly Americans can't borrow in order to spend. They are over their heads in debt. Jobs are disappearing. America's consumer economy, approximately 70 percent of gross domestic product, is dead. Those Americans who still have jobs are saving against the prospect of job loss. Millions are homeless. Some have moved in with family and friends; others are living in tent cities.
The Financial New World Order: Towards a Global Currency and World Government - Andrew G. Marshall
"Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar’s role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body."
The Devalued Prime Minister of a Devalued Government - Daniel Hannan MEP
Daniel Hannan is a Conservative MEP for the South East of England and author of The Plan: Twelve Months to Renew Britain.
Protecting the Constitution - February 5th, 2009
Jefferson thought it immoral to pass on debts from one generation to the next, writing, “we shall all consider ourselves unauthorized to saddle posterity with our debts, and morally bound to pay them ourselves; and consequently within what may be deemed the period of a generation, or the life (expectancy) of the majority.”
Samuel Adams believed the same, saying, “The Utopian schemes of leveling (redistribution of the wealth) and a community of goods (central ownership of the means of production and distribution), are as visionary and impractical as those which vest all property in the Crown. (These ideas) are arbitrary, despotic, and in our government, unconstitutional.” - Randy Bright; Tulsa Beacon - 918-664-7957
With all due respect Mr. President, that is not true. - The Cato Institute; www.cato.org
"There is no disagreement that we need action by our government, a recovery plan that will help to jumpstart the economy." — PRESIDENT- ELECT BARACK OBAMA, JANUARY 9 , 2009
“When the American people learn what this bill contains they will reject it. This bill is about spending money we don’t have on things we don’t need. We got into this mess by spending and investing money that didn’t exist. We won’t get out of this mess by doing more of the same. Yet, that is precisely what we are doing,” Dr. Coburn said. “Instead of delivering change, this bill celebrates the politics of the past. The bill represents both the mindless partisanship of recent decades, and the failed interventionist policies of the 1930’s. The Senate can, and must, do much better. As currently written, this bill represents the worst act of generational theft in our nation’s history.”
Gold & Economic Freedom – 1966 Article by Alan Greenspan
“Under a gold standard, the amount of credit that an economy can support is determined by the economy's tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government's promise to pay out of future tax revenues, and cannot easily be absorbed by the financial markets. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.”
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. - Alan Greenspan
"Greenspan (once) recommended to a Senate committee that all economic regulations should have fixed life spans. Senator Paul Sarbanes (D-Md.) accused him of 'playing with fire, or indeed throwing gasoline on the fire,' and asked him whether he favored a similar provision in the Fed's authorization. Greenspan coolly answered that he did. Do you actually mean, demanded the senator, that the Fed 'should cease to function unless affirmatively continued?' 'That is correct, sir,' Greenspan responded." - Editor, The Gilded Opinion
U.S. Military Preparing for Domestic Disturbances - Jim Meyers - Newsmax; December 23, 2008
"A new report from the U.S. Army War College discusses the use of American troops to quell civil unrest brought about by a worsening economic crisis."
The report from the War College’s Strategic Studies Institute warns that the U.S. military must prepare for a “violent, strategic dislocation inside the United States” that could be provoked by “unforeseen economic collapse” or “loss of functioning political and legal order.”
"Sen. James Inhofe of Oklahoma and Rep. Brad Sherman of California disclosed that Treasury Secretary Henry Paulson discussed a worst-case scenario as he pushed the Wall Street bailout in September, and said that scenario might even require a declaration of martial law."
"And Gen. Tommy Franks, who led the U.S. military operations to liberate Iraq, said in a 2003 interview that if the U.S. is attacked with a weapon of mass destruction, the Constitution will likely be discarded in favor of a military form of government." - Jim Meyers - Newsmax
Bush Legacy European Socialism by Dick Morris and Eileen McGann
The results of the G-20 economic summit amount to nothing less than the seamless integration of the United States into the European economy. In one month of legislation and one diplomatic meeting, the United States has unilaterally abdicated all the gains for the concept of free markets won by the Reagan administration and surrendered, in toto, to the Western European model of socialism, stagnation and excessive government regulation. Sovereignty is out the window. Without a vote, we are suddenly members of the European Union. Given the dismal record of those nations at creating jobs and sustaining growth, merger with the Europeans is like a partnership with death.
All kinds of political agendas are advancing under the cover of response to the global financial crisis. Where Franklin Roosevelt saved capitalism by regulating it, Bush, to say nothing of Obama, has given the government control over our major financial and insurance institutions. And it isn't even our government! The power has now been transferred to the international community, led by the socialists in the European Union.
18 Days to Oblivion - Dan Keating - October 23rd, 2008 – Tulsa Beacon
“Unfortunately, this month, I’m not writing about past courage. I’m not writing about good conquering evil. I’m not writing about team players succeeding for country, honor and family. I am writing about a stench in men’s nostrils that comes from our political and business leadership. I’m writing about men who following their need for great wealth were willing to trade in their country and its financial future for themselves. There is no more despicable a human class that now resides in Washington D.C. and Wall Street.” – Dan Keating in the Tulsa Beacon
“Over the decades since then and through a series of man-made boom and bust cycles, the powerful banking lobby, with the behind-the-scenes pressure from Wall Street, has persuaded Congress to give them permanent authority over our money and credit in violation of the Constitution and the express will of the people. This power was permanently consolidated in 1913 into the misnamed Federal Reserve System, which is neither “federal” nor “reserve.” Time and time again the big bankers who privately control the Federal Reserve have shown elected officials in Washington that indeed they are the ones that have the power in our land.” – National Center for Constitutional Studies
BERLIN/WASHINGTON (Reuters) - Germany offered a blanket bank deposit guarantee on Sunday in a bid to contain the spreading credit crisis as officials clinched deals to rescue Germany's Hypo Real Estate and recapitalize two other European banks.
“The United States last week approved a $700 billion fund authorizing the U.S. Treasury to begin buying up bad debt from banks. But questions abound about how successful that will be in unblocking credit markets as the economy slips into a deeper downturn.”
“European banks have been hit hard by the fallout from a crisis which began in the United States when the housing market collapsed and bad mortgage debts multiplied.” - By Gernot Heller and Kevin Krolicki
A Unified Atlantic Market; Views of two Economists - Domenec Ruiz Devesa and Costantino Pischedda
"Economic integration must and will lead to political integration. An integrated market requires common institutions producing common rules to govern it."
"Close transatlantic economic interdependence is also demonstrated by the rapidity with which financial turmoil crosses the
Atlantic. A summer 2007 bank crisis in Europe started because of investments in high-risk bonds issued in the US sub-prime mortgage-market."
"In the automobile industry, companies are forced to test vehicles twice in order to comply with both US and EU regulations. Different investment and banking rules are also a problem. For example, the EU treatment of private equity is substantially more restrictive than in the US, and differences in the regulation of mortgage markets likely lay behind the recent bank crisis mentioned above. Without institutionalized transatlantic consultation and coordination, such regulatory duplication and discord will likely proliferate." - Domenec Ruiz Devesa
In any language, the word no carries the same meaning. Does our federal government get this? Ironically, no. Despite such strong opposition by the citizens of these United States, the federal government believes we taxpayers should foot the bill for the most outrageous, in-your-face, socialist piece of legislation to save the economy.
Say NO to Taxpayer Rescue of Wall Street - Amanda Teegarden
"The U.S. Congress, the Treasury Secretary, and the Federal Reserve, have decided they are the ”last best hope” for saving the American economy and are contemplating a historical (hysterical) piece of legislation to fix the problem."
The Great Swindle - Vicky Davis
"The 1960's is known as the era of the Great Society. The Great Society was a massive program of social engineering and
redistribution of wealth proudly brought to us by the Democrats. The 1990's will become known as the era of the Great Swindle. I'd like to say that Great Swindle was brought to us by a single party because then we could throw out the scoundrels, dismantle the programs and carry on life in the American tradition. But I can't. The Great Swindle was a collective effort by both parties and now we are being asked to bail out the financiers and the central planners of the swindle." - Vicky Davis
In the paper I wrote the other day (The Great Swindle) on the $700 billion bailout, I said that they were attempting to pull off another dialectic. While shouting Emergency! Hurry! Hurry! What they were really up to was that Paulson wanted the authority to forfeit sovereignty over our financial regulatory system - changing it over to the international regulatory system. Thanks to the work of a fellow researcher and her sources, I have more information on it.
‘‘Emergency Economic Stabilization Act of 2008’’ - as of 9-29-2008
SEC. 2. PURPOSES.
The purposes of this Act are—
(1) to immediately provide authority and facilities that the Secretary of the Treasury can use to
restore liquidity and stability to the financial system of the United States; and
(2) to ensure that such authority and such facilities are used in a manner that—MEND_~1.XML HOLCPC
(A) protects home values, college funds, retirement accounts, and life savings;
(B) preserves homeownership and promotes jobs and economic growth;
(C) maximizes overall returns to the taxpayers of the United States; and
(D) provides public accountability for the exercise of such authority.
Fed Pumps Further $630 Billion into Financial System - Scott Lanman and Craig Torres
Sept. 29 (Bloomberg) -- "The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression."
"The crisis occurred (to greatly oversimplify) because the financial system allowed entities to place bets on whether or not those mortgages would ever be paid. You didn't have to own a mortgage to make the bets. These bets, called Credit Default Swaps, are complex. But in a nutshell, they allow someone to profit immensely - staggeringly - if large numbers of subprime mortgages are not paid off and go into default.
The profit can be wildly out of proportion to the real amount of defaults, because speculators can push down the price
of instruments tied to the subprime mortgages far beyond what the real rates of loss have been. As I said, the profits
here can be beyond imagining. (In fact, they can be so large that one might well wonder if the whole subprime fiasco
was not set up just to allow speculators to profit wildly on its collapse...)" - Ben Stein
Please send technical comments and problems to: webmaster
Fair Use Notice: This site contains copyrighted material, the use of which may not always have been specifically authorized by the copyright owner. Such material is made available for educational purposes, and as such constitutes "fair use" of any such copyrighted material as provided for in Section 107 of the U.S. Copyright Act. In accordance with Title 17 U.S.C. Section 107 the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
Copyright ©2007 Oklahomans for Sovereignty and Free Enterprise, Inc. All Rights Reserved