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Wednesday, June 17, 2009

America-Take A Lesson From The Iranian People!

Why is President Obama capitulating to the political right after so many liberal-progressive voters chose him as their candidate and choice for president? By taking such moves, which are not even “center-based”, he has alienated a great many of his supporters. As Bill Maher has stated, “I didn’t vote for this!”

Progressives, liberals, or for that matter, many former-Reagan Democrats have flared up their ire, which is worse than whacking your big toe against a fixed object, when Obama began reversing his support for Democrats who protested against the White House when it decided to rally behind the telecom industry’s subversive Stalinesque use of their technologies to gather intelligence, without warrants, against everyday Americans. Didn’t Little Boy Bush do that?

We call these acts spying! Stalin, Khrushchev, Mao, Castro, Pinochet, Bush, and, of course, Hitler all spied on their own people, and now, Obama has walked that supportive tightrope. Such actions are part of the neo-con battle cry, and Obama has raised a few masts in that direction.

Another sail flapping on the Demo-con's phantom ship has emboldened across its sailcloth is his support for government funded faith-based initiatives. Just because he believes in religious action for people in need, it does not mean that it has to be financially supported through the government’s budget. Why is it that the government cannot directly fund such initiatives without having to go through religious organizations? I always thought there was a separation between church and state, but that belief continues to get whittled away.

The same questions come up over and over again in regards to the Federal Reserve Bank. Why is it that the government borrows money from the Federal Reserve, a private banking organization, in order to operate? The Federal Reserve buys government issued Treasuries, sells them, and then loans the government money. The US government, then in return, pays the Federal Reserve interest on the money it borrows.

Does this make any sense? Why cannot the US government establish its own bank, through the Treasury, and operate it without having to pay interest to itself? Why is the Federal Reserve still operating? It is because the international bankers, who sit on the Federal Reserve board, have incredible power over the government. The Federal Reserve Bank is just one of other international central banks affiliated with the International Bank of Settlements, which is the chief central bank for all these world banks.

Dr. Ellen Brown, of webofdebt.com, wrote about the innovative Bank of North Dakota (BND), which is North Dakota’s state owned bank, established in 1919. It just so happens that North Dakota has a budget surplus because of the way they use this bank. “By law, the state must deposit all its funds in the bank, which pays a competitive interest rate to the state treasurer. The state rather than the FDIC guarantees the bank’s deposits, which are plowed back into the state in the form of loans. The bank’s return on equity is about 25% and it pays a hefty dividend to the state, which is expected to exceed $60 million this year. In the last decade, the BND has turned back a third of a billion dollars to the state’s general fund, offsetting taxes. The BND avoids rivalry with private banks by partnering with them. Most lending is originated by a local bank.”

If this is just fine for North Dakota, then why is it not good enough for the federal government? Why must we have a Federal Reserve, when we can have the USA Bank? And, why is not every state legislature establishing their own state-owned banks to build equity for their state treasuries? It appears that every state can become solvent, and fund their own projects through their own state-owned banks paying itself interest and dividends?

Dr. Brown writes, “North Dakota has also managed to avoid the credit freeze, through the simple expedient of creating its own credit. It has led the nation in establishing state economic sovereignty.” “Only three of fifty states are now solvent, meaning they have the revenues to meet their state budgets; and one of them is North Dakota.”

She discusses that if we had our own national bank, then we could lend operating capital to our newly acquired car company-GM. She says “One advantage of a government-owned bank is that it could fund public projects interest-free or nearly interest-free, cutting production costs dramatically. Interest comprises as much as 77% of the cost of goods and services, such as public housing, that require large amounts of capital.”

Imagine our own government-owned bank creating jobs through the people’s GM company building electric cars leased by the US government, intra-city commuter rail cars, innovative and energy efficient buses, and alternative energy products, such as battery technology. The return on such an investment would generate jobs and real Green Shoots throughout the nation.

There are major concerns burdening working class Americans and government supported domestic spying, or faith-based initiatives are just some of several policies that need to be surgically removed from the cancerous growth spreading throughout the White House. President Obama has seamlessly connected some of the Bush dots into his own matrix.

A declining dollar, rising un-underemployment, stagnant wages, an escalating war in the Middle East, rising consumer prices, and energy costs, unaffordable health care, a mounting debt crisis causing destruction to the economy, and more are the most acute problems facing this nation. Yet, Obama wants to make great speeches addressing issues that are not life threatening, at this time, like the ones just mentioned.

President Obama embeds former president and CEO Edward Whitacre of A.T.&T to the helm of the new government controlled, but with no control, G.M. As we recall during the Bush administration, this telecom company and others were involved in offering up data information about Americans without their consent and had allowed the government to just directly hook up to their phone conversations, emails, and cell phone conversations without warrants. Now, this guy has been dropped into the driver’s seat of the new G.M company.

Wow! Does this not sound like what has been going on with the nation’s corrupt financial banking institutions over the decades? Their former employees have been embedded inside the Obama administration to fix the very firestorm they created as employee/representatives of these banks. And, the Federal Reserve has embedded its own homeboy-Timmy Geithner to make sure that the Treasury continues to do the bidding of the Federal Reserve Bank and its international banking organization.

I have to keep going back to President Obama’s campaign slogan of “Yes We Can”, and “Change We Can Believe In.” As a voter and supporter, if Obama had spoken about embedding Wall-Street bankster Trojan Horses in his economic recovery plan for the country, and said he would hire on former CEOs of corporations that acted against the Constitution, the interests of the nation, and the will of the people, I would have told him, ‘No You Can’t!’ and I cannot vote for that!

We are now seeing the Iranian citizens protesting by the tens of thousands against what they believe is voter fraud. They are willing to get out in the streets and raise their voices in protest, but here in America, the nation’s biggest economy theft and hijack of our economy by a bunch of banker criminals gets no protest. No protest over handing over $14 trillion to replenish the bankster’s losses while Americans go into foreclosure by the millions, with little help, and who have seen trillions of dollars in home value wealth evaporate, as well as their retirement nest-eggs. No protest. Not a peep in the street.

Back on April 3, 2009, the Obama Justice Department filed a motion to dismiss one of the Electronic Frontier Foundation’s (EFF) landmark lawsuits against illegal spying by the National Security Agency (NSA). “The lawsuit was aimed at ending the NSA’s dragnet surveillance of millions of ordinary Americans and holding accountable the government officials who illegally authorized it” as was reported by Tom Burghardt, in his April 13, 2009 article “Obama Administration Endorses Continued Spying on Americans.”

What we are seeing is that this president is not making it simple, nor building the same grassroots momentum behind him that elevated him into the presidency. If there were, then he would have the force to press the Congress and the nation’s elite to accept new policies that would benefit hardworking, middle class Americans without destructive and diluted comprises. He would have the momentum to take the country back from those who stole it away over the last 30 years from the very people that make it function—the middle class.

From all we are seeing and hearing from him is that there is little change we can believe in. The American people are to blame for this. We must harness the same courage to protest as we are now seeing from the Iranian people.

10 comments:

SPECTRE of Deflation said...

Because he's part of the cabal as I have said many times. They are ALL lying to us each and everyday. They are smoking the green shoots as they find them. Martin Weiss lays it out oh so well that we are busted...broke. Oh, and welcome to the club. Conservatives thought that that's what they were getting from W as well before he showed he true hand. They are crime syndicates. Does $14 Trillion Dollars not tell you all you need to know? Read about the debt disaster from Mr. Weiss:

While most pundits are still grasping at anecdotal “green shoots” to celebrate the beginning of a “recovery,” the hard data just released by the Federal Reserve reveals a continuing collapse of unprecedented dimensions.

It’s all in the Fed’s Flow of Funds Report for the first quarter of 2009, which I’ve posted on our website with the key numbers in a red box for all those who would like to see the evidence.

Here are the highlights:

Credit disaster (page 11). First and foremost, the Fed’s numbers demonstrate, beyond a shadow of a doubt, that the credit market meltdown, which struck with full force after the Lehman Brothers failure last September, actually got a lot worse in the first quarter of this year.

This directly contradicts Washington’s thesis that the government’s TARP program and the Fed’s massive rescue efforts began to have an impact early in the year.

In reality, the credit market shutdown actually gained tremendous momentum in the first quarter. And although it’s natural to expect some temporary stabilization from the government’s massive interventions, the first quarter was SO bad, it’s impossible for me to imagine any scenario in which the crisis could be declared “over.”

Here are the facts:

We witnessed one of the biggest collapses of all time in “open market paper” — mostly short-term credit provided to finance mortgages, auto loans, and other businesses. Instead of growing as it had in almost every prior quarter in history, it collapsed at the annual rate of $662.5 billion. (See line 2.)

Banks lending went into the toilet. Even in the fourth quarter, when the meltdown struck, banks were still growing their loan portfolios at an annual pace of $839.7 billion. But in the first quarter, they did far more than just cut back on new lending. They actually took in loan repayments (or called in existing loans) at a much faster pace than they extended new ones! They literally pulled out of the credit markets at the astonishing pace of $856.4 billion per year, their biggest cutback of all time (line 7).

Meanwhile, nonbank lenders (line 8) pulled out at the annual rate of $468 billion, also the worst on record.

Mortgage lenders (line 9) pulled out for a third straight month. (Their worst on record was in the prior quarter.)

And consumers (line 10) were shoved out of the market for credit at the annual pace of $90.7 billion, the worst on record.

The ONLY major player still borrowing money in big amounts was the United States Treasury Department (line 3), sopping up $1,442.8 billion of the credit available — and leaving LESS than nothing for the private sector as a whole.
Bottom line: The first quarter brought the greatest credit collapse of all time.

Excluding public sector borrowing (by the Treasury, government agencies, states, and municipalities), private sector credit was reduced at a mindboggling pace of $1,851.2 billion per year!

And even if you include all the government borrowing, the overall debt pyramid in America shrunk at an annual rate of $255.3 billion (line 1)!


(SNIP)

SPECTRE of Deflation said...

I'm also curious concerning him leaning right. Where? The Democratic Party holds the Presidency as well as both houses of CONgress. They can pass what they like right now, so it's on their shoulders. I will say that we are running quarterly deficits that exceed the worst deficits of W ON A YEARLY BASIS. In other worlds we are maxing the national credit card as we speak. This will end badly for all concerned except for the protected groups. More bread and circus please before the sheeple catch wind of what's really happening.

carlandjerry said...

SPECTRE, Hello, please leave your blogspot or dot com site address for us next time.

I have read Mr. Weiss' pieces and he does give smart analysis of what is going on. You know SPECTRE, I wish I had a crystal ball. We all do. There are so many variables.

Obama is leaning center right. I know he is NOT leaning left! You must remember, the right is mainly made up of very far right people. Today's left in Congress is a minority. Most Democratic Congress-people are moderate conservative people. At least they vote that way. The House has a strong Blue Dog Democratic coalition voting conservatively. There is no liberal majority in Congress, and definitely Obama is not such a person.

You must remember, although you might not agree, that for 30 years this economy has been running wild. Clinton did a bunch of damage on his way out. Bush destroyed the economy with rising deficits, big war expenditures, and more.

Obama was left holding a burning bag. Unfortunately, he took the advice of the Clintonestas and the Goldman Sachmen agreeing that the financial economy was more important than the real economy. Obama lost a lot of credibility with these choices.

The G20 are in a war of economics right now. This is only the beginning. And, the buying up of commodities is what we are beginning to see now.

Please send the link to the Fed's Flow of Funds Report.

The banks were really never lending any money out to those who needed it. They have been hoarding it since the beginning of TARP. This we knew. They were only shoring up their balance sheets with the hand of Bernanke and the Treasury.

You posted some interesting information. Thanks. jerry

SPECTRE of Deflation said...

Jerry, ya a crystal ball and a money tree is all I need I tell ya! :<) I don't have a blog or site at this time although I'm kicking around doing one. I have more information available than most because I spend so many hours each day doing nothing but financial research for myself that I think I have some info that would be very valuable to many Americans who really need to hear the truth. It's a question of time required to actually run a blog or site. Too few hours in a day my friend, as I am sure you are aware of. If you have any suggestions based on setting up your site, I would be glad to hear your thoughts regarding positives and pitfalls.

As to Obama, I think you have your liberal, but the blowback from his own Party in the House and Senate is what keeps his plans from blooming in full. It's like trying to herd cats. LOL! Just ask the Republicans about their experience with said cats when they controlled it all.

SPECTRE of Deflation said...

Jerry, here's the link to the latest report (all 124 pages):

http://www.federalreserve.gov/releases/z1/Current/z1.pdf

carlandjerry said...

SPECTRE, Thanks for the link. I will go through it over some time. I don't really think Obama is a liberal, but has liberal ideas, as he has conservative beliefs.

Most conservatives in Congress don't seem to have liberal views, yet do moderate and have very conservative beliefs.

I appear to operate on cycles. For a couple of weeks, I was feeling somewhat optimistic about the future, but now, after reading Dr. Michael Hudson's current piece (I will post it when I post my new opinion piece, which is nearly ready). Now, I feel much less optimistic. Actually, I feel we are in an economic cold war with Russia, China and BRIC. Times will deteriorate. This is my current cycle.

Setting up a blogspot is very simple. A dot com site is much more complex, but a blogspot is simple.

It really does not take much time, but the writing up of the pieces is the most consuming part of it. I typically write my pieces on paper, then type them up in Word, and then, after proofing a few times, copy and paste it into "new post" window.

You will probably enjoy getting your opinions out there for others to read. Now, here is the key to get readers--you have to read a lot of sites, and make comments on them, otherwise, your readership will be small. I do read a lot of sites. I guess you do, too. You have to make your comments and leave your blogspot address.

jerry

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