Neel Kashkari

"I didn’t know I was going to be the referee for an internal G.O.P. ideological civil war,” Mr. Frank said, according to The A.P.Thursday, in the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to “blow it up” by withdrawing her party’s support for the package over what Ms. Pelosi derided as a Republican betrayal."

“I didn’t know you were Catholic,” Ms. Pelosi said, a wry reference to Mr. Paulson’s kneeling, according to someone who observed the exchange. She went on: “It’s not me blowing this up, it’s the Republicans.”

Source

2 plus 2 =

Strange Consensus

"If countries start doing it [engineering a new financial world order] bilaterally instead of multilaterally, the system will fall apart and we'll end up in depression."

Source

Global Currency, Global Bank

The move is on for the destruction of state sovereignty and the development of a central world state bank operating with a single currency.

All of this seems sporadic and local until you start to think globally.

In any case if you want to see the plan look at the translation of China's proposal for a world currency from the People's Bank of China here.

The degree to which our politicians must be two-faced about this is evident. To say they are against it will freak the holders of dollars who are looking long term. To say that they are for it immediately depresses the value of the dollar. Link

But the fact is that it is only a matter of time. In terms of the dollar the gun is held to everyone's head and the only question is when it implodes. Put differently, we are looking at a bubble at the global level.

So, as always, follow the money. If the world goes into a deep depression with no safe haven who stands to gain? Who can offer the solution? Might they be the same?

Honest Abe

"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..... I see in the 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 and 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 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 the war."
-- Abraham Lincoln

"If the American People ever allow the 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 property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies."
--Thomas Jefferson

"The Federal Reserve Banks are privately owned, locally controlled corporations"
--Lewis vs. U.S., 680 F.2d 1239, 1241 (1982)

"From a legal standpoint these banks are private corporations, organized under a special act of Congress, namely, the Federal Reserve Act. They are not in the strict sense of the word, 'Government banks'."
--William P.G. Harding, Governor of the Federal Reserve Board (1921)

"It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
--Henry Ford, founder of the Ford Motor Company

"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.... Deficit spending is simply a scheme for the "hidden" confiscation of wealth.... [Gold] stands as a protector of property rights."
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" 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

"Centralization of credit in the hands of the State, by means of a national ban with State capital and an exclusive monopoly."
--Karl Marx, 5th Plank of the Communist Manifesto, 1848

"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."
--Napoleon Bonaparte, 1815

Obvious in October of 2008

Glenn Beck is a watered down version of Alex Jones.  Anyway, if you want to predict what stories Beck will feature just visit www.infowars.com and see where his "research staff" leech their material.  In any case, the truth is the truth independent of motivation and that is all anyone should care about.

Weimar America

A young woman in Weimar Germany using the currency at the time to heat her home. Their bills look larger than ours...

The latest article from Bob Chapman's "The International Forecaster" is entitled 'America Potentially The Next Weimar or Argentina.'

Here is an excerpt:

"These policies will continue to extend the time line for a collapse. Even Alan Greenspan says $1 trillion is not enough to remedy the financial system and economic ills. Here we are on the threshold of going Weimar, as free trade and globalization, collapses perpetual currency devaluations take place and virulent inflation stalks the world, a hyperinflation that will destroy all but the very rich, who will in the end beg for their lives."

The last bit rests on Chapman's conviction that if things get bad enough a country with nine firearms for every ten people will prove to be the solution to this whole mess. Wishful thinking? Who knows? Sometimes this sounds like tough guy posturing to me. On the other hand no less than George Washington said:

"Firearms stand next in importance to the constitution itself. They are the American people's liberty teeth and keystone under independence … from the hour the Pilgrims landed to the present day, events, occurences and tendencies prove that to ensure peace security and happiness, the rifle and pistol are equally indispensable … the very atmosphere of firearms anywhere restrains evil interference — they deserve a place of honor with all that's good."

Chapman's article can be found here.

Pour in a Few Trillion and the Market Rises!

At 1:00

"We had a strong rally, we are up 23% from the lows. I think that this rally might still have some legs for the simple reason that if you print money, let's say we all add a zero to our bank notes, and to our savings and credits it liquifies the system for awhile and asset prices move up accordingly."

At 3:43

..."I think what the government is doing and its economic dream team under Mr. Bernanke and Mr. Geithner and Mr. Summers are going to be from a longer term point of view rather negative. But you understand, I think we can all sit there and say it will all end in disaster. That I'm sure. But in the meantime we can have big moves in markets."

Prediction Verified: The Market Will Go Up (But You Will Be Raped)

On 3/21/09, well before the last rally a certain internet web-site predicted the surge--but he has an explanation. No wonder he has been so good about predicting the movement of the markets.

If you want to see his complete explanation please go here.

Here is a relevant quotation:

Gee, do you think that if we could show a profit after being given a $50 billion handout from taxpayers, that we could help ignite a stock market rally? How utterly ridiculous. The current rally in stocks is like a siren song, luring people back into the market so they can be dashed on the rocks once again later when the rally fizzles and they suffer losses anew. This classic bear market rally is a place where even angels should fear to tread, so we suggest you just keep accumulating precious metals stocks while they are kept artificially low. Only insiders know when the current rally will be allowed to fizzle, so unless you are an insider, you will get burned and become a crispy critter. Anyone who participates in this bogus rally is empowering the Illuminists, and is making their game much easier, and more profitable, to play.

A few days later on 3/24/09 the DOW jumped 500 points.

Another relevant quotation:

U.S. stocks staged their biggest rally in five months yesterday, led by an 18 percent surge in financial companies, on speculation the administration’s plan to rid banks of toxic assets will revive the economy. The gain pushed the S&P 500’s increase since sinking to a 12-year low on March 9 to 22 percent, the fastest two-week advance since 1938.

Crazy Conspiracy Theorist Kissinger Calls for NWO (Scroll to 2:00)

For those who don't know the NWO is an abbreviation for the "New World Order." The basic idea is that things would be much easier for the bankers if the world was united under a single currency.

A second idea worth thinking about is the fact that Kissinger views the current crisis as an "opportunity." If this makes you wonder at all Google 'Problem-Reaction-Solution.'

Sign of the Times

For those who are angry at Wallstreet remember that most of the workers, even those who raked in some nice cash, were just trying to do a good job in what they perceived as honest work.

Now many of them are just as screwed as the rest of us.

Here is a relevant statistic: In 2006 1% of the U.S. population accounted for 25% of the total income. These guys are not feeling the economic stress, or if they are, I can't imagine their "sacrifice." Damn, I really wanted that third island...

Schiff Predicts The Financial Collapse

Notice how the lamestream media attempts to discredit Schiff. At one point they literally resort to laughing at him without argument. Talk about intellectual bankruptcy...

Give It a Year or So

China, who holds about a trillion in U.S. debt and continues to finance
U.S. debt is looking for a way out.