-- Posted Friday, 3 September 2010 | | Source: GoldSeek.com
By R. D. Bradshaw
The privately owned US Federal Reserve Banking system held its annual Monetary Symposium at the fat cat resort at Jackson Hole, Wyoming in late August 2010. Since that event, the financial news wires have been ablaze with statements, procrastinations, predictions and assessments from this conference attempting to evaluate what was said about the US economy and what the Fed would do about it (since the Fed’s charter grants it a primary role and responsibility for stability and growth in the US economy).
The News from the Rothschild Controlled Media
In his address to the participants, Fed Chairman Ben Bernanke, relative and agent for the ruling Rothschild banking Cabal of London, laid out the dilemma facing the Fed’s master manipulators by saying: “In many countries, including the United States and most other advanced industrial nations, growth during the past year has been too slow and joblessness remains too high. This list of concerns makes clear that a return to strong and stable economic growth will require appropriate and effective responses from economic policymakers across a wide spectrum, as well as from leaders in the private sector. Central bankers alone cannot solve the world's economic problems” (as quoted in an article from the London Guardian).
The supposed essence of the problem is and has been the continuing high levels of unemployment coupled with the continuing deterioration in the real estate and mortgage businesses. Interestingly, these continuing problems have only intensified all the while the Fed’s crooked leaders have been telling the puppet politicians and the American people for the last 19 months that the recession was over for all purposes and the nation is now in a recovery mode. Obviously, Rothschild cousin Bernanke has not been in tune with the real world out there; or alternatively he has been deliberately lying and deceiving the American people and the Rothschild puppet politicians running things in Washington.
One of the early media reports came out on Aug 27 from Jackson Hole by the Rothschild owned media source Reuters which had a report by Mark Felsenthal and Pedro Da Costa on Bernanke says recovery softer, Fed prepared to buy more. This report indicated that the Fed is prepared to take more steps to aid the economy if necessary. The article quoted Bernanke as saying: "The committee is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly.”
Per the story, Bernanke believes that the Fed purchases of long term paper have been effective and he believes more buying of such assets would “outweigh any disadvantages.” While Rothschild cousin Ben did not reveal what other unconventional methods the Fed would use, it was clear that the situation is deteriorating and the Fed will have to do something or expect increasing criticism from the nation.
While different analysts could have different interpretations of Rothschild cousin Ben’s words, the Goldsmiths must rely upon Fed history and actions for the past three years during this current Rothschild imposed depression. Based on this Fed history, it is safe to assume that the Fed may soon start buying more bad paper from the big Rothschild Cabal banks to further transfer more trillions from the taxpayers to the big banks (the Fed calls this quantitative easing). This has been the Fed MO for quite some time now.
But what was missed by many readers and observers of the Rothschild master money manipulators and crooks in action was something addressed in the Richard Adams Blog from the London Guardian of Aug 28 which focused on Bernanke’s words “that a return to strong and stable economic growth will require appropriate and effective responses from economic policymakers across a wide spectrum, as well as from leaders in the private sector. Central bankers alone cannot solve the world's economic problems.”
As the Richard Adams Blog noted, Bernanke said that the Fed needs help to revive the US economy. But Adams added: “But it won't get any… But what was missed was Bernanke's low-key plea for help - from the government.” But in going on, Adams noted the real world out there that further government stimulus was unlikely and especially in the context of perhaps political changes after the November elections. This outcome would mean that “the Fed is going to have to do all the heavy lifting by itself.”
Bloomberg of Aug 27 had an article by Simon Kennedy on Jackson Hole Debate on Recession Risk Shows Bernanke Challenge which cited the words of Vincent Reinhart, resident scholar at the American Enterprise Institute, and his wife Carmen Reinhart who presented a paper at the symposium that finds “the U.S., Germany and other advanced economies may face a decade of slow growth and high unemployment if the aftermath of the 2007 financial crisis tracks other post-crisis recoveries of the past century.”
Bloomberg also quoted Harvard University Professor Martin Feldstein, who sits on the Business Cycle Dating Committee of the National Bureau of Economic Research, as saying: “There’s still a significant risk, maybe one chance in three, that there will be a double dip.”
The New York Times of Aug 30 weighed in on this theme in an article by Peter S. Goodman on Policy Options Dwindle as Economic Fears Grow by saying: “THE American economy is once again tilting toward danger. Despite an aggressive regimen of treatments from the conventional to the exotic — more than $800 billion in federal spending, and trillions of dollars worth of credit from the Federal Reserve — fears of a second recession are growing, along with worries that the country may face several more years of lean prospects. It increasingly seems as if the policy makers attending like physicians to the American economy are peering into their medical kits and coming up empty, their arsenal of pharmaceuticals largely exhausted and the few that remain deemed too experimental or laden with risky side effects.”
This talk of a so-called double dip recession/depression is being increasingly mentioned in the Rothschild Cabal controlled media so there is the likelihood that the Cabal is preparing the dumb sheep people to expect more bad days. But the take in the Goldsmiths has consistently been that all the pap and crap about recovery from the Rothschild controlled Fed, media and government has been smoke and mirrors. The truth has been no recovery was ever underway (it was impossible to believe recovery with the continuing problems in unemployment and mortgage foreclosures); but a continuation of the depression which certainly struck in 2008 or earlier in 2007.
Rothschild cousin and agent Mortimer B. Zuckerman, publisher of the US News & World Report, gave the so-called conservative spin in an article of Aug 26 on The Most Fiscally Irresponsible Government in U.S. History which suggested that the “Current federal budget trends are capable of destroying this country.” While Zuckerman blasted Obama and his stimulus package, Zuckerman was honest enough to report the public perception in America, per Pew Research/National Journal polls, that “the measures to combat the Great Recession have mostly helped large banks and financial institutions, and that's a view common to Republicans (75 percent) and Democrats (73 percent). Only one third of either political leaning thinks government policies have done a great deal or a fair amount for the poor.”
Here is a summation of the problem from AmpedStatus.com: “Government anti-poverty programs that have grown to meet the needs of recession victims now serve a record one in six Americans and are continuing to expand. More than 50 million Americans are on Medicaid. More than 40 million people get food stamps, an increase of nearly 50% during the economic downturn. Close to 10 million receive unemployment insurance, nearly four times the number from 2007. More than 4.4 million people are on welfare, an 18% increase during the recession.” To this list, I can add that over 31 million Americans are now unemployed (this means 21 million have no unemployment benefits).
My comment here is also that we have been told that the nation is in recovery for the past 19 months all the while that Rothschild cousin Ben and the privately owned Fed have been working overtime to figure out more ways that they can send trillions of dollars more from the taxpayers to the big Rothschild Cabal banks and financial institutions.
To put things in perspective on where we are at this point in time, the Financial Times of London of Aug 30 had a report from Jackson Hole by Robin Harding and Helen Thomas on Investors braced for week of key data in the context of the week of Aug 29. Harding and Thomas noted Bernanke’s words that the Fed would take action if the outlook deteriorated significantly and said the next focus has to be US unemployment figures due out Friday, Sep 3. Presumably, if the unemployment news is bad again, the Fed will supposedly do something (like give the big Cabal banks another trillion dollars or so?).
The Bottom Line
While all of the procrastinators with the Fed and in Washington agree that something must be done, most also acknowledge that there is not much that they can do. As far as the government proper, the historic approach is to spend more money. But like the above remarks indicate, the public perception is that the spending is being done to benefit the big banks and financial institutions. Too, this is an election year and the Republicans are now hollering about the big spending Democrats on social welfare payouts—but not on payments going to benefit the Rothschild Cabal of big banks which both Democrats and Republicans totally support.
In another vein, Executivegov.com had a story by Michael Cheek on Mullen: National Debt is a Security Threat which said “The national debt is the single biggest threat to national security, according to Adm. Mike Mullen, chairman of the Joint Chiefs of Staff. Tax payers will be paying around $600 billion in interest on the national debt by 2012, the chairman told students and local leaders in Detroit.”
With this backdrop, it is clear that the Obama team and its supporters in Congress will be limited on how much spending they can do and do by the November elections. Of course, they will make promises but the fact remains that the promises will probably never reach fruition.
Therefore, all that remains for action is the Rothschild Cabal owned Fed. What can the Fed do to spur the economy (or rather to support the big Cabal banks)? Well, most of the Fed supporters are now on record that there is not much more the Fed can do. The Fed has interest rates from zero to .25% and has been monetizing the US debt right and left, and funneling trillions in bailout funds to the big Cabal banks. None of this so far has helped the US economy, employment, real estate and availability of credit at the banks.
As noted above, the big bank bail outs will surely be resumed in the form of so-called quantitative easing. But this will not help the American people or the US economy. All it will do is put more money and gain into the pockets of the Rothschild Cabal bankers at the expense of the American nation and people.
The other subtle alternative brought out in Bernanke’s remarks is help from private sources which Bernanke did not clarify. Jerome R. Corsi at World Net Daily had a story this week on Feds eyeing private money to Finance Debt which suggested that the Treasury will issue so called Retirement Bonds which IRAs and 401k programs will be required to buy. These R bonds would constitute, in effect, a government annuity that would pay the retiree a lifetime income, regardless how stock and bond markets might independently perform.
The Goldsmiths CLVI a week ago outlined the plans now underway for the Treasury to require private retirement plans to buy US Treasuries. Who knows, the liars and crooks with the Fed and Treasury may even index such bonds to the so called official US inflation rate. But as I have said, this indexing will be manipulated like it has been for the last many years. So any such indexing will end up being a joke just like the COLA allowances are now a joke for Social Security and government retirement accounts.
Though Rothschild cousin Bernanke did not explain the private assistance reference it is clear to me that the intent is that the American people must expect to suffer more and more as unemployment expands and the credit markets further contract. Obviously, since there are limits to what the Fed or the government can do, it is clear that we the people will be expected to bite the dust and pay for the money going to the big banks thru our blood, sweat and tears.
But the Rothschild Cabal snakes running things know exactly what they are doing. They are experts at causing periods of inflation and deflation in tandem with periodic wars where they really clean up. Based on the words of Rothschild cousin Ben, my take is that the Rothschild Cabal expects we the people to go thru the wringer of a much harder deteriorating economy with deflation as the Rothschild goal in the immediate future.
Also it would appear that in the next year or two (and regardless of what the Cabal imposes on the US in terms of Iran), WWIII will become a reality (on this, see Understanding Money and War, Parts II and XIV, at www.analysis-news.com). So will WWIII save the US? If you think so, you may be in the market to buy a bridge in Brooklyn or maybe you still believe in the tooth fairy.
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-- Posted Friday, 3 September 2010 | Digg This Article | Source: GoldSeek.com