-- Posted Friday, 2 October 2009 | | Source: GoldSeek.com
By R. D. Bradshaw
Bloomberg had a recent story by Alison Fitzgerald and Christine Harper on Geithner and his alleged plans to correct things with a focus on comments from the former Chairman of the Federal Reserve Bank, Paul A. Volcker.
The article reported: “The 82-year-old head of the president’s Economic Recovery Advisory Board began his campaign for restructuring the basics of U.S. banking 17 months ago in a speech to the New York Economic Club. It was April 8, 2008, three weeks after the Fed helped New York-based JPMorgan Chase & Co. buy Bear Stearns Cos. by extending a $30 billion backstop. The ‘demonstrably fragile financial system that has produced unimaginable wealth for some, while repeatedly risking a cascading breakdown of the system as a whole, needs repair and reform…’” said Volcker.
While Paul Volcker has been on the Cabal’s team of market manipulators for many years, he did consciously or unconsciously let the cat out of the bag. His perception that the present system has produced unimaginable wealth for some people was on the mark. Notice that Volcker didn’t say all people, but only “some” people. Yes, some persons who knew what was going on became unimaginably wealthy. By doing a little arithmetic, it is easy to see that while some were growing unimaginably wealthy, others were losing their pants and suffering greatly at the transfer of wealth to the few who did know what was going on.
Response from a Goldsmiths Reader
Goldsmiths 98, on the need for a class action lawsuit, didn’t produce much of a reaction. But one reader, Peter J. Ritter, sent me the following remarks which I find extremely interesting and revealing of the present situation in America (though I personally have not verified the presented data):
“Gold (and silver) certificates used to state: This is to certify that there is on deposit with the Treasury of the United States of America ONE HUNDRED DOLLARS IN GOLD (or silver) COIN PAYABLE TO THE BEARER ON DEMAND which puts a very effective brake on excessive paper money creation by the bankers, as banks must always be ready to redeem notes. A bank caught unable to change paper money into gold or silver coin is done for. That is the brake that keeps them from printing paper money like crazy. But this tough gold standard was deliberately removed from the economy, with the express purpose of allowing the banksters to create ridiculous amounts of money (out of thin air), without any backing or restraint whatsoever.
“After abolishing the gold standard, until today, all references on bank notes to gold or silver coin were meticulously erased. That creates the ridiculous situation where a bank will pay the bearer $100 on demand, not in gold or silver coin, but in the form of another paper note. One can merely exchange one paper note for another one that is identical. The gold standard has become a paper standard. That’s where the fraud is. Might as well save the trip to the bank and keep the original paper note.
“Circulating money and debt have grown so large over the years that previous debt can only be serviced by rescheduling and by creating new debt, very much like a giant Ponzi pyramid scheme. And the banksters have created enough money and debt that the crash in the making has become unstoppable. We are now on that runaway train moving downhill and gathering speed, without brakes.
“Trying to solve the problem of too much debt by creating ever more debt can never work and is totally unsustainable. It is insane. But the foxes know only one way of doing business, and they are not inclined at all to leave the farm voluntarily. It's cold out there, and the foxes have grown accustomed to life in comfort and calling the shots. If the people want sanity to return to their monetary affairs, indeed their lives, they have to remove the foxes bodily and by force, which could also be called a revolution.
“In the meantime, all one can do is buy physical gold and silver, or other tangible assets, and store them in safe places, out of the reach of banksters, because it is highly likely that they will once again attempt to confiscate precious metals and outlaw their private possession. They have to because they can’t manufacture gold (or silver), and they want to continue printing their worthless $-coupons.
“Rather than return to the sanity of a gold standard, they would probably first opt for confiscation of the precious metals, as these are a colossal thorn in their side. With gold outlawed, the banksters could print money to their heart's delight. Gold would no longer alert people by rising in price and screaming about excessive paper money creation, which is inflation. Bankers' paradise would be restored. But do the vast majority of people go along with that?
“Confiscation of gold and silver and enforcing a command economy would instantly create a black market for precious metals, so keep your gold and silver in small denominations and in safe but accessible places. This is very worthwhile advice, for you and your children, and is illustrated by the following example:
“In 1930, a $100 bill and 4.84 ozs. of gold (at $20.67/oz.) were of the same value, interchangeable. In 2009, all that remained of the $100 bill was $8 purchasing power, as per official CPI (Consumer Price Index), which everybody knows is deliberately understated. $4 or less would be nearer the true purchasing power today.
“However, the 4.84 ozs. of gold are worth $4,800 today, at $991.74/oz. 4800 : 8 is a difference of 600 x. If gold had been CPI adjusted and not suppressed since the 1980's, the 4.84 ozs. would be worth $12,000 today, which is a 1500 x difference. At $12,000: $4 the difference would be 3000 x.
“Going back to the main example, the current $4,800 value of 4.84 ozs. of gold is money that should be held by the people. But only the above $8 are actually left to them. They were shortchanged 600 x, or 1500 x, or 3000 x, depending on which set of numbers one uses. $4,800.00 Actual value of 4.84 ozs. of gold today. $8.00 Purchasing power today of $100 from 1930. $4,792.00 Stolen by the parasites via inflation (money printing). That money went to:
1. The enrichment of the banksters and entrenchment in their power bases
2. Wars, to shape the world according to the wishes of the banksters
3. Promotion and implementation of boneheaded government programs, socialism, etc.
4. Setting up a government and system that is beyond the control and reach of the people
5. General corruption
6. Legitimate government programs
“In that order of priority--it is therefore no wonder:
“That the old saying ‘the rich get richer, the poor get poorer’ turns out to be generally true.
“That these power tripping billionaire and trillionaire banksters think that they are today's gods, act like it and run the world accordingly.
“That they have destroyed and are still destroying, via their own media and public education - which they control through governments, those institutions, namely family, community, race, religion, country, which could ever pose a danger to the banksters' rule.
“It is only these very institutions, with enough sane people united, that could potentially take on and defeat the parasitic pest that these banksters are for mankind. And that, in a nutshell, is the world's situation today.
“Every citizen should get clarity about the above numbers and facts and decide if he wants to continue supporting such a system.
“Every soldier, security and government man serving under any bankster controlled government should get clarity about the above situation and decide if he wants to continue serving and keeping in power a dirty bunch of bankster parasites and money racketeers that keep mankind under their thumbs with corruption and immorality.
“Once that clarity is there, it is very easy to decide between good and evil.”
The Bottom Line
My take is that while inflation helped the incumbent politicians to be re-elected and the plutocratic bankers (who understood the inflation game, how it is played and how it was destined to continue for years) to make absolute fortunes (unimaginable wealth, per Volcker), many others lost their futures in this game of using the printing presses and debt to create wealth.
Who was hurt? Man, don’t you get it? Almost everybody in society paid a terrible price. Almost all working people who worked weekly to get a paycheck found increasingly that their paychecks were always too little to take care of their needs. True, the politicians allowed minimum wage increases to many and step increases to government employees. But these bribes and payoffs were always inadequate to meet the demands of living and existing for most people.
That’s the primary reason why women with husbands and families had to quit taking care of their husbands, homes and children and go out into the workplace to find employment. Money manipulations and inflation by the Rothschild Cabal drove them from their homes.
There are actually people who believe that all women should be in the work force and away from their homes, children and families (even beyond those lacking husbands/families and/or those who must work to survive). Of course, the women’s feminist movement has supported that concept. But there are people who have awaken to understand that a child needs its mother and not some stranger at a day care center or be out on the open streets where pedophiles often roam to completely destroy children and their future.
Before WWII and the Rothschild war for profits, most American women were in the home taking care of their families. With the WWII push for women to work in defense plants and the continuing pressures of the family to make ends meet in a highly inflationary society, women had to leave their children and homes to enter the workplace. Now, we see the results.
The Hippie movement of the 1960s was a reaction of young people to this sick trend of society. Now, we have run away children (and pedophile kidnappings) and the homeless all over the streets. And why? Man, don’t you get it? The monetary inflation scheme of the Rothschild Cabal, pushed into reality in the 1930s by Rosenfeldt/Roosevelt, did it.
Frankly, I remember the pre-1941 days. And believe me; the American people have changed profoundly from those days until today. We are simply different people with different values and different attitudes. And why? The stupid irresponsible inflation practices of this nation, which started in earnest in the 1930s, have acted to help change the American people; and will act eventually to destroy this nation.
The deterioration of morality and values in America has brought catastrophic results to the American people. Yet, almost no one today has the foggiest notion of what is going on and has gone on to create the mess the nation is in today.
But there is still one more, sickening, pathetic reality of inflation which almost no one knows about or wants to discuss. Before FDR, people had to save money/gold for their own individual retirements and futures when they were old and grey and could not work. Saving for the future was an important part of life.
There was virtually no welfare in those days (beyond a few county poor farms/homes). People provided for themselves. Saving for the future was a virtue and something that children were taught to respect and appreciate. Well, inflation killed it all (because inflation is inherently contrary to saving money). And with the manipulation of interest rates down, only an idiot will try to save money in a local bank savings account today.
So FDR and his team of inflationists voted in Social Security with the concept that the worker would pay taxes and receive back his insurance proceeds when he was old and grey. Well, too bad, but the snakes running things have screwed the people here with inflation. Then the crooked politicians responded by making COLA. But the Cabal snakes were not to be outdone. They then screwed the people by manipulating inflation statistics to keep COLA payments down. Now, those on Social Security find that they become more and more below the poverty line each year.
Will we ever learn before it’s too late? I don’t think so.
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-- Posted Friday, 2 October 2009 | Digg This Article
| Source: GoldSeek.com
