Posts tagged cartel
Fed Czars go to War – Chuck Morse
Published by NextNewsNetwork
For what may be the first time in the 100-year history of the Federal Reserve System, two candidates are publicly contending to replace the Fed’s outgoing chairman, Ben Bernanke.
Janet Yellen, vice chairwoman of the Fed’s Board of Governors, is said to be locked in a dead heat with Larry Summers, former President of Harvard and a former high-ranking economic adviser to Presidents Clinton and Obama.
As is the case in electoral politics, the contest between Yellen and Summers has included dirty campaigning — with supporters of Yellen accusing Summers of sexist behavior as Harvard President. They also point out that Mr. Obama would make history by appointing Yellen to be the Fed’s first female chairman.
In substantive terms, there’s not much difference between Yellen and Summers. Both of them support the Keynesian model of economics in which debt-driven government spending is seen as the key to expanding the economy.
During the 1990s, Summers played a key role in creating the real estate and mortgage bubble and the huge derivatives market that grew out of it — all of which led to the financial panic of 2008 and the ongoing recession.
Yellen, for her part, believes that Bernanke’s energetic expansion of money and credit has been inadequate. If she is appointed as Fed chairman, Yellen might well inaugurate an era of hyperinflation.
The Fed Chairman has more power over the U.S. economy — indeed, the world economy — than either the president or the Congress. Why is this so? Why does the Federal Reserve exist, and are we stuck with it? We’ll discuss this today with radio host and economic analyst Chuck Morse.
In addition to hosting the nationally syndicated “Chuck Morse Speaks” program on the IRN/USA Radio Network, Chuck has written two books — The Art and Science of American Money, and The Socialist Bible. He is also a columnist whose work has appeared in the Boston Globe, the Washington Times, WorldNetDaily, and numerous other publications.
By Alex Newman
A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview withThe New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success.
Citing an explosive 2011 Swiss study published in the PLOS ONE journal on the “network of global corporate control,” Hudes pointed out that a small group of entities — mostly financial institutions and especially central banks — exert a massive amount of influence over the international economy from behind the scenes. “What is really going on is that the world’s resources are being dominated by this group,” she explained, adding that the “corrupt power grabbers” have managed to dominate the media as well. “They’re being allowed to do it.”
According to the peer-reviewed paper, which presented the first global investigation of ownership architecture in the international economy, transnational corporations form a “giant bow-tie structure.” A large portion of control, meanwhile, “flows to a small tightly-knit core of financial institutions.” The researchers described the core as an “economic ‘super-entity’” that raises important issues for policymakers and researchers. Of course, the implications are enormous for citizens as well.
Hudes, an attorney who spent some two decades working in the World Bank’s legal department, has observed the machinations of the network up close. “I realized we were now dealing with something known as state capture, which is where the institutions of government are co-opted by the group that’s corrupt,” she told The New American in a phone interview. “The pillars of the U.S. government — some of them — are dysfunctional because of state capture; this is a big story, this is a big cover up.”
At the heart of the network, Hudes said, are 147 financial institutions and central banks — especially the Federal Reserve, which was created by Congress but is owned by essentially a cartel of private banks. “This is a story about how the international financial system was secretly gamed, mostly by central banks — they’re the ones we are talking about,” she explained. “The central bankers have been gaming the system. I would say that this is a power grab.”
The Fed in particular is at the very center of the network and the coverup, Hudes continued, citing a policy and oversight body that includes top government and Fed officials. Central bankers have also been manipulating gold prices, she added, echoing widespread concerns that The New American has documented extensively. Indeed, even the inaccurate World Bank financial statements that Hudes has been trying to expose are linked to the U.S. central bank, she said.
“The group that we’re talking about from the Zurich study — that’s the Federal Reserve; it has some other pieces to it, but that’s the Federal Reserve,” Hudes explained. “So the Federal Reserve secretly dominated the world economy using secret, interlocking corporate directorates, and terrorizing anybody who managed to figure out that they were having any kind of role, and putting people in very important positions so that they could get a free pass.”
The shadowy but immensely powerful Bank for International Settlements serves as “the club of these private central bankers,” Hudes continued. “Now, are people going to want interest on their country’s debts to continue to be paid to that group when they find out the secret tricks that that group has been doing? Don’t forget how they’ve enriched themselves extraordinarily and how they’ve taken taxpayer money for the bailout.”
As far as intervening in the gold price, Hudes said it was an effort by the powerful network and its central banks to “hold onto its paper currency” — a suspicion shared by many analysts and even senior government officials. The World Bank whistleblower also said that contrary to official claims, she did not believe there was any gold being held in Fort Knox. Even congressmen and foreign governments have tried to find out if the precious metals were still there, but they met with little success. Hudes, however, believes the scam will eventually come undone.
“This is like crooks trying to figure out where they can go hide. It’s a mafia,” she said. “These culprits that have grabbed all this economic power have succeeded in infiltrating both sides of the issue, so you will find people who are supposedly trying to fight corruption who are just there to spread disinformation and as a placeholder to trip up anybody who manages to get their act together.… Those thugs think that if they can keep the world ignorant, they can bleed it longer.”
Of course, the major corruption at the highest levels of government and business is not a new phenomenon. Georgetown University historian and Professor Carroll Quigley, who served as President Bill Clinton’s mentor, for example, wrote about the scheme in his 1966 book Tragedy And Hope: A History Of The World In Our Time. The heavyweight academic, who was allowed to review documents belonging to the top echelons of the global establishment, even explained how the corrupt system would work — remarkably similar to what Hudes describes.
“The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole,” wrote Prof. Quigley, who agreed with the goals but not the secrecy. “This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.”
But it is not going to happen, Hudes said — at least not if she has something do to with it. While the media are dominated by the “power grabber” network, Hudes has been working with foreign governments, reporters, U.S. officials, state governments, and a broad coalition of fellow whistleblowers to blow the entire scam wide open. There has been quite a bit of interest, too, particularly among foreign governments and state officials in the United States.
Citing the wisdom of America’s Founding Fathers in creating a federal system of government with multiple layers of checks and balances, Hudes said she was confident that the network would eventually be exposed and subjected to the rule of law, stopping the secret corruption. If and when that happens — even if it may be disorderly — Hudes says precious metals will once again play a role in imposing discipline on the monetary system. The rule of law would also be restored, she said, and the public will demand a proper press to stay informed.
“We’re going to have a cleaned-up financial system, that’s where it is going, but in the meantime, people who didn’t know how the system was gamed are going to find out,” she said. “We’re going to have a different kind of international financial system…. It’ll be a new kind of world where people know what’s going on — no more backroom deals; that’s not going to keep happening. We’re going to have a different kind of media if people don’t want to be dominated and controlled, which I don’t think they do.”
While Hudes sounded upbeat, she recognizes that the world is facing serious danger right now — there are even plans in place to impose martial law in the United States, she said. The next steps will be critical for humanity. As such, Hudes argues, it is crucial that the people of the world find out about the lawlessness, corruption, and thievery that are going on at the highest levels — and put a stop to it once and for all. The consequences of inaction would be disastrous.
The topic of inflation seems to be a difficult one for many to grasp. Many do not follow economic cycles, rising market booms and the predictable busts that follow, fiat currency and the constant devaluation of the US dollar by the privately owned Federal Reserve banking cartel. Understood, as we are too busy to deal with the financial world while busy working 10 hours a day for 7 hours of wage, taking care of a family, keeping the car running, walking the dog and finding the almighty TV remote hidden behind the jumbo sized box of Twinkies (now a collectors item!).
One simple to understand example should at least cover the basics of inflation. Remember, we buy the stuff we need with US printed dollars, which is physically worth nothing, but, okay, backing up. If a farmer grew apples and you fixed cars you could trade your services for the farmers goods, barter, but, backing up.
Bottom line, if you used cats as currency and wanted to purchase a loaf of bread yesterday and then wanted to purchase another loaf tomorrow this is how much cat you would need.
Disclaimer: Prices vary per market location. Cat tolerances are ± 0.5″ length, ± 0.25″ width, adjusted for camera angle and relative humidity per photo. Past drought conditions not factored in for potential wheat damage AFFECTING BREAD PRICES, etc.
Chancellor George Osborne has named Mark Carney, who is the current governor of the Bank of Canada and Chairman of the Financial Stability Board of the G20, has been chosen for governor of the Bank of England and successor to Mervyn King.
In April it was revealed that Carney was being “informally approached as a potential candidate to replace King as head of the central Bank of England in June of 2013.”
Obsorne explained that Carney brings “strong leadership and external experience the Bank needs.” Carney and his leadership in Canada were recognized for having weathered the central banking schemes “better than any other Western country.”
The Bank of England, established 318 years ago, is expected to take a new direction under Carney’s leadership – a suspected necessity for the technocrats to gain stronger hold over the financial markets. There are rumors that the incessant printing of fiat will be curbed because of its inability to stimulate the global economy. This strategic move may also ensure that the City of London can repair its reputation.
Carney’s position as governor of the central Bank of England will last for 8 years; however Carney has indicated that he expects to serve for 5 years and hand over the position in 2018.
Carney appears to be a solid choice, as he has not been tainted by the planned implosion of the global financial market that was the Crash of 2008. He also has a long history with the technocrats. Carney was employed by the Goldman Sachs Group, Inc in the City of London. He also worked at Goldman Sachs locations in Tokyo, New York and Toronto. Carney has a masters and PhD degree from the globalist-funded Oxford University.
Yet Carney’s involvement in the 1998 Russian financial collapse that Goldman Sachs created seems to have escaped the mainstream media’s memory. In response, and to divert attention, Carney used precise coercion to convince the Russian government to become indebted to Goldman Sachs as a saving grace from the devastation that the crash threatened to produce.
Like any good technocratic institution, Goldman Sachs came to the “aid” of the Russian government with loans to the tune of $1.25 billion to be used for purchasing bonds. This scheme was not enough to save the nation, and just like clockwork; the Russian government defaulted and was indebted to Goldman Sachs.
“Legalized Plunder of the American People” – G. Edward Griffin
Published on Oct 2, 2012 by CaseyResearchFAN
To order the complete audio set from the Navigating the Politicized Economy Summit, available in CD and MP3 format, http://bit.ly/2012FallSummit
G. Edward Griffin discusses the Federal Reserve and it’s role in the declining economy at the recently concluded conference, Navigating the Politicized Economy.
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Ben Swann Reality Check takes a look at some stunning new accusations by a high ranking member of the Sinaloa Drug Cartel that Fast and Furious was about the U.S. supporting one cartel while attempting to shut down others
By Alex Newman
July 29, 2012
The Central Intelligence Agency’s involvement in drug trafficking is back in the media spotlight after a spokesman for the violence-plagued Mexican state of Chihuahua became the latest high-profile individual to accuse the CIA, which has been linked to narcotics trafficking for decades, of ongoing efforts to “manage the drug trade.” The infamous American spy agency refused to comment.
In a recent interview, Chihuahua state spokesman Guillermo Terrazas Villanueva told Al Jazeera that the CIA and other international “security” outfits “don’t fight drug traffickers.” Instead, Villanueva argued, they try to control and manage the illegal drug market for their own benefit.
“It’s like pest control companies, they only control,” Villanueva told the Qatar-based media outlet last month at his office in Juarez. “If you finish off the pests, you are out of a job. If they finish the drug business, they finish their jobs.”
Another Mexican official, apparently a mid-level officer with Mexico’s equivalent of the U.S. Department of “Homeland Security,” echoed those remarks, saying he knew that the allegations against the CIA were correct based on talks with American agents in Mexico. “It’s true, they want to control it,” the official told Al Jazeera on condition of anonymity.
Credibility issues with employees of the notoriously corrupt Mexican government aside, the latest accusations were hardly earth shattering — the American espionage agency has been implicated in drug trafficking from Afghanistan to Vietnam to Latin America and everywhere in between. Similar allegations of drug running have been made against the CIA for decades by former agents, American officials, lawmakers, investigators, and even drug traffickers themselves.
Some of the most prominent officials to level charges of CIA drug trafficking include the former head of the U.S. Drug Enforcement Administration (DEA), Robert Bonner. During an interview with CBS, Bonner accused the American “intelligence” outfit of unlawfully importing a ton of cocaine into the U.S. in collaboration with the Venezuelan government.
Even the New York Times eventually covered part of the scandal in a piece entitled “Anti-Drug Unit of C.I.A. Sent Ton of Cocaine to U.S. in 1990.” And the agency’s Inspector General, Frederick Hitz, was eventually forced to concede to a congressional committee that the CIA has indeed worked with drug traffickers and obtained a waiver from the Department of Justice in the 1980s allowing it to conceal its contractors’ illicit dealings.
“Steal a little,” wrote Bob Dylan, “they throw you in jail; steal a lot and they make you a king.” These days, he might recraft the line to read: deal a little dope, they throw you in jail; launder the narco billions, they’ll make you apologise to the US Senate.
Two months ago in Washington DC, a poor black man called Edward Dorsey Sr was convicted of peddling 5.5 grams of crack cocaine. Because he was charged before a recent relative amelioration in sentencing, he was given a mandatory 10 years in jail.
Last week, managers from Britain’s biggest bank, HSBC, lined up before the Senate’s permanent sub-committee on investigations – just across the Potomac river from the scene of Dorsey’s crime – to be asked questions such as: “It took three or four years to close a suspicious account. Is there any way that should be allowed to happen?”
The “suspicious account” was that of a “casa de cambio”, a currency exchange house operated in Mexico on behalf of the largest criminal syndicate in the world and one of the most savage, the Sinaloa drug-trafficking cartel. The dealings had been flagged up to HSBC bosses by an anti-money laundering officer, but to no avail – the dirty business continued. “No, senator,” came the reply from a bespectacled Brit called Paul Thurston, chief executive, retail banking and wealth management, HSBC Holdings plc.
The same casa de cambio, called Puebla, was known to be under investigation in another case involving the Wachovia bank during the time HSBC was entertaining its money. US authorities had seized $11m from Wachovia’s Miami office, on the way to securing the biggest settlement in banking history with Wachovia in March 2010, detailed in this newspaper last year.
So what was Obama’s level of involvement in the incident and the cover-up?
You have probably seen the images by now. Athens on fire, the city literally burning as politicians within parliament voted to pass tough austerity measures to meet the demands of the EU and IMF, Greece’s international lenders. This story is about more than just austerity and riots – it’s wealth-extraction amidst economic collapse at work. The Greek economy is in the 5th year of a recession, which is a nice way of saying that it is in a depression. Money supply continues to contract, deposits are being drained and liquidity has dried up. The economy is in a free fall, and there is no bottom in sight. The proposals for recovery through “austerity” are just another way to keep the political system in place for as long as possible with the hope that the elites will be able to ride this storm out and come out the other end richer and more powerful than every before. We break down how exactly that works with Capital Account producer Demetri Kofinas.
And while we’re on the issue of debt, let’s take a look at how the US is dealing with it. US President Barack Obama released his 2013 budget today. While it will be analyzed, touted, and attacked, why should you care, or rather, why should you not care? We’ll tell you. And more economists come out saying the Federal Reserve is making a big mistake if it sticks to keeping interest rates near zero for the next three years. We look at how the Fed got here – it’s evolution into central planner, buyer of junk, war enabler, and firefighter of the economic fires it creates itself. We speak to G. Edward Griffin whose been opposing the Fed since at least the 1960s. G. Edward Griffin is author the bestselling book The Creature from Jekyll Island, which has been recommended by Republican Presidential hopeful Ron Paul on his reading list and which reportedly informed Dr. Paul’s writing on the Fed in his own books on the subject.
Griffin also takes us back in time, and reminds us how the Fed even came to be — the money trust meeting in secret on Jekyll Island in order to draft a cartel agreement that would eventually be known as the “Federal Reserve Act.”