The Consolidated ZOG/Babylon3's Economic Collapse Thread

[PastorLindstedt]

The Consolidated ZOG/Babylon3's Economic Collapse Thread

http://whitenationalist.org/forum/sh...=1175#post1175
http://stumbleinn.net/forum/showthre...209#post218209

ZOGling whigger herd animals will put up with a lot. Niggers and illegal [g]immiegrunts can go beyond humping and impregnating fat ugly whigger gordas and then start raping their blond, blue-eyed daughters and they will put up with it. But when you start threatening a whigger's wallet, then the whiggers get all mad. This is because whiggers are never ever concerned about the greater good of the social order, or the good health and well being of anyone beyond their immediate family -- and sometimes not even that -- but are invariably nothing more than solipsistic white-chicken whiggers.

For example, senior whiggers were willing to give Obongo the fraudulent alleged nigger president the benefit of the doubt that maybe Obongo was the 'Magic Nigger' who would do something no nigger has ever done in recorded history: Save whigger snivelization from itzself and reverse economic and imperial decline that all mighty Evil Empires undergo. But when Obongo-care was revelealed as simply taking Medicare and Medicaid away from senile dying whiggers and giving it to niggers and beaners, why the whiggers had a cow -- and tea parties.

When I got out of jail in October 2008, the biggest shock was a sticker shock: How high the prices had gotten in three and a half years since May 2005. Food and everything except the no-longer speculated in gasoline was two, three times what it had been. I didn't find the whiggers particularly much smarter than the nuts and criminals and perverts I had been confined with. What got me was how far gone the whigger and jew regime criminals had gotten away with looting and robbing the store, the economic system that keeps White males occupied, employed, and slaving for the System which is out to destroy them.

For understand this: Whiggers are both cattle and wolves to jews. jew parasites live off of whiggers, and most of the time whiggers are mere cattle to jews. But every so often, jew and shabbes whigger rapacity gets so bad that the whiggers face starvation and want, and from this combustible tinder there arises White leadership and a White Revolution carries away the ancient regime and the jews are exterminated and sent packing and the shabbes whigger parasites are tortured to death because whiggers never ever take responsibility for what they tolerated and thus what happened to them. We live in Revolutionary times, even if, probably, what awaits is not a real Revolution in which the People survive and choose a Neo-Aristocracy, but rather a racial, religious and class civil war which the religious will call a Great Tribulation. What awaits is not a Renaissance, but rather an exterminatory civil war in which nothing can be done until ALL the parasites and useless feeders & breeders, jew muds & cruds, and most importantly, the whiggers are eliminated.

I look at a number of blogs and forums. The most important and best written is Karl Denninger's "The Market Ticker."

http://market-ticker.org/archive

I almost never go to Denninger's Forums because like almost all forums, I am not interested in some whigger's opinion on Denninger's opinion. Those able to think are so rare that anyone intelligent wants to see what intelligent original people have to say, not the notions of the herd underneath the Great Tree.

I also look at Whigger Nutsionalist anf LibberToon forums and blogs for what sundry whiggers have unearthed. Whiggers want freedumb and piss/peace and want someone to give it to them without having to get off they's whigger asses in order to do their own killing to accomplish this. But what can one expect from whiggers, who have a wishbone but not a backbone?

So this is a sort of consolidated thread I use in my forums to place onto my blogs for later publishing. I hate to use other people's work because I am an original thinker. But it does help to have a place where followers of my forum work can post and ask pertinent questions.

Hence this consolidated thread regarding economics for my forums.

Hail Victory!!!

Pastor Martin Luther Dzerhzinsky Lindstedt
Church of Jesus Christ Christian/Aryan Nations of Missouri
www.whitenationalist.org/forum

[PastorLindstedt]

Bill to audit the jew-Fed got out of the House Bankstering Committee

Bill to Audit the jew-Fed got out of House bankstering committee

http://whitenationalist.org/forum/sh...=1176#post1176
http://stumbleinn.net/forum/showthre...d=1#post218213

The Washington establishment suffers a serious defeat
BY GLENN GREENWALD
http://www.salon.com/news/opinion/gl...0/transparency

Something quite amazing happened yesterday in Congress: the House Finance Committee -- in a truly bipartisan and even trans-ideological vote -- defied the banking industry, the Federal Reserve, the Democratic leadership, and mainstream Beltway opinion in order to pass an amendment, sponsored by GOP Rep. Ron Paul and Democratic Rep. Alan Grayson, mandating a genuine and probing audit of the Fed. The Huffington Post's Ryan Grim has the best account of what took place, noting:

In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday afternoon despite harried last-minute lobbying from top Fed officials and the surprise opposition of Chairman Barney Frank (D-Mass.), who had previously been a supporter.

Grim details how key Committee Democrats such as Frank -- who spent the year claiming to support an audit of the Fed in the face of rising anger over its secret and bank-subservient policies -- suddenly introduced their own amendment (sponsored by Democratic Rep. Melvin Watt) that would have essentially gutted the Paul/Grayson provisions. Banking industry and Fed officials, as well as the Democratic leadership, then got behind that alternative provision as a means of pretending to support transparency while protecting the Fed from any genuine examination. Notwithstanding the pressure exerted on Committee Democrats to support that watered-down "audit" bill, Grayson convinced 15 of his colleagues to join with Republicans to provide overwhelming support for the Paul/Grayson amendment. As Grim notes:

[Frank] urged a no vote, yet 15 Democrats bucked him, voting with Paul. Key to winning Democratic support was a letter posted early Thursday from labor leaders and progressive economists. The letter, organized by the liberal blog FireDogLake.com, called for a rejection of the Watt substitute and support for Paul.

Grayson was able to show Democratic colleagues that the liberal base was behind them.

"Today was Waterloo for Fed secrecy," a victorious Grayson said afterwards.

The bill still faces substantial hurdles in becoming law, of course, but yesterday's vote has made that outcome quite possible, and it's worth nothing several important points highlighted by what happened here:

(1) Our leading media outlets are capable of understanding political debates only by stuffing them into melodramatic, trite and often distracting "right v. left" storylines. While some debates fit comfortably into that framework, many do not. Anger over the Wall Street bailouts, the control by the banking industry of Congress, and the impenetrable secrecy with which the Fed conducts itself resonates across the political spectrum, as the truly bipartisan and trans-ideological vote yesterday reflects. Populist anger over elite-favoring economic policies has long been brewing on both the Right and Left (and in between), but neither political party can capitalize on it because they're both dependent upon and subservient to the same elite interests which benefit from those policies.

For that reason, many of the most consequential political conflicts are shaped far more by an "insider v. outsider" dichotomy than by a "GOP v. Democrat" or "Left v. Right" split. The pillaging of America's economic security by financial elites, with the eager assistance of the government officials who they own and who serve them, is the prime example of such a conflict. The political system as a whole -- both parties' leadership -- is owned and controlled by a handful of key industry interests, and anger over the fact is found across the political spectrum. Yesterday's vote is a very rare example where the true nature of political power was expressed and the petty distractions and artificial fault lines overcome.

(2) As Grim expertly describes, the effort to defeat the Paul/Grayson amendment came from all of the typical Washington power centers using all of the establishment's typical manipulative tools:

The playbook in Washington often goes like this: When a measure that threatens the establishment builds enough momentum that it must be dealt with, it is labeled as "unserious." The Washington Post editorial board, true to the script, called Paul's measure "an unserious answer to a serious question."

And it particularly rankles the center that a pair of "wingnuts " [Paul and Grayson] are behind a successful effort to challenge the prevailing order.

Step Two is for a "serious" compromise to be offered. In this case, it was Watt's amendment. But by the time the vote was called Thursday afternoon, committee members had seen through his measure, recognizing that it was not a compromise effort to bring real transparency to the Fed but an attempt to further shut the doors.

One can count on one hand the number of times that establishment attacks like this fail, but this time -- at least for now -- it did. And it reveals a winning formula: where there is a strong and principled leader in Congress willing to defy the Party's leadership and the Washington establishment (Grayson), combined with leading experts lending their name to the effort (economists Dean Baker and James Galbraith), organizations standing behind it (labor groups), and a shrewd and driven organizer putting it all together (FDL's Jane Hamsher), even the most powerful forces and opinion-enforcers can be defeated, as they were here. Those progressive advocates' refusal to be distracted by trite partisan considerations, and their reliance on substantial GOP support to pass the bill (as hypocritical as the GOP's position might have been), was particularly crucial -- and smart.

(3) Beyond the specifics, a genuine audit of the Fed would be a major blow to the way Washington typically works. The Fed is one of those permanent power centers in this country that exert great power with very little accountability and almost no transparency (like much of the intelligence and defense community). The power they exert has exploded within the last year as a result of the financial crisis, yet they continue to operate in a completely opaque manner and with virtually no limits. Its officials have been trained to view their unfettered power as an innate entitlement, and they express contempt for any efforts to limit or even monitor what they do.

In other words, the Fed is a typical Washington institution that operates un-democratically and in virtually total secrecy, and a Congressionally-mandated audit that they (and much of the DC establishment) desperately oppose would be a serious step towards changing the dynamic of how things function. At the very least, it would provide an important template for defeating the interests which, in Washington, almost never lose. At least yesterday, those interests did lose -- resoundingly -- and the importance of that should not be overlooked.

Karl Denninger's Take on the Situation:

Paul/Grayson Amendment Passes In Committee

It's about damn time.

Yes, it's a first step - but an important first step, and it happened yesterday. Here's what Representative Grayson said at the time of debate:



Bloomberg wasted no time giving the "loyal opposition" to transparency all the digital ink they desired:

“It’s going to be seen as weakening the independence of monetary policy with consequent negative implications,” Frank told reporters after the vote. “People are going to be worried about the impact on the dollar, on the interest rate.”

Go listen to Mr. Grayson's statement again. Now tell me how The Fed's move to dilute our currency literally by half isn't going to "raise inflation expectations" and "have an impact on the dollar."

Never mind the impact that has already occurred. Is Barney Frank freaking blind? What say you to this, Mr. Frank, considering that all of this dollar damage has occurred since The Fed decided to start monetizing Treasury and MBS debt:



Exactly what sort of "damage" are you worried about Mr. Frank? Is not this enough for you? This damage - a roughly 20% devaluation since March - occurred since The Fed announced its "purchase" programs, specifically the purchase of MBS paper for which it appears to have absolutely no legal authority.

How does an audit - determining if The Fed intentionally overpaid, if the transactions were commercially reasonable, if they were designed to help some people and screw others, if The Fed is hiding losses and if the transactions performed even comport with the law - hurt the dollar and inflation expectations? Have you seen the price of GOLD lately Mr. Frank? The gold traders clearly believe The Fed has every intention of re-creating Weimar Germany!

Justified or not, those are the current "expectations" that secrecy has brought us.

How much worse than Weimar could expectations get Barney? Are you now splitting hairs between Weimar and Zimbabwe?

“Everybody would like to beat up on the Fed and call them the bad guys,” Watt said during debate on the measures. “So if we make this decision on a political basis, I know what the result will be.”

“This committee is called upon to transcend the politics of the moment and do what is in the interest of the country,” Watt said.

Really Mr. Watt?

Are you advocating the "best interest of the country" or are you advocating for the best interest of Bank of America, with their corporate headquarters in your district - a firm that has been the beneficiary of unprecedented Federal Reserve largess along with a healthy dose of arm-twisting?

Let's face the facts here. There are many people (myself included) who believe The Fed is "the bad guy." They have behaved as a dictator, they have in my opinion ignored black-letter law and they have intentionally debased the currency of this nation for the explicit benefit of their bankster buddies while screwing the middle class. The Fed's intentional bubble-blowing and now its "zero interest rate" policy has fostered a dollar carry trade now estimated to be over $500 billion - a carry trade that like all others through history will unwind in an uncontrolled and disastrous manner, trashing our economy and markets.

If all this was an "emergency response" that could not have been avoided I might even overlook it - after all, this has been a time of crisis.

But it was and is not.

No, The Fed is why we're in this mess in the first place! They have been responsible for every asset bubble of the last 20 years - intentionally so. Greenspan's foibles over the last 20 years, and now Bernanke's, have guaranteed a complete "hands off" approach to risk by financial institutions and regulators, with both being comfortable in the knowledge that the Fed both could and would simply print up more "funny money" and shower it from helicopters if anything went wrong.

Indeed, Bernanke was dubbed "Helicopter Ben" years ago for suggesting exactly that response to a monetary crisis - that is, he propounded an intent to intentionally destroy every saver's wealth, with the same effect on the victims - in this case the prudent in this nation - as if they were all subjected to armed robbery.

The Fed has intentionally ignored banks buying hundreds of billions of dollars worth of so-called "hedges" (CDS) from AIG, even though it knew or should have known AIG had no money to pay off on those instruments. It has permitted banks under its direct supervision to create and trade hundreds of trillions of dollars in notional value of derivatives ($605 trillion according to the BIS as of June 2009) traded with zero transparency over the counter - an amount so staggering that if these banks' net exposure is even one percent of their notional value it is sufficient to bankrupt every large banking institution in the country several times over and if it is just two percent the net exposure to loss approximates US GDP!

It looked the other way on purpose while the large banks and other financial institutions put together garbage securitizations chock full of liar loans and other exotic products that the producers knew would never be paid as agreed - securitizations they were so sure would default that they were shorting them while selling them to their "marks", er, "customers."

The Fed sat back and supported, rather than speaking against, Hank Paulson's entreaty to have the leverage limits removed from Investment Banks in 2004 - the very feature that was directly responsible for the failure of Bear Stearns and Lehman Brothers.

The Fed has not only allowed banks to circumvent leverage limits and reserve requirements through the abuse of off-balance-sheet vehicles and sweep accounts, it lobbied for and received from Congress the right to set the required reserve ratio for banks TO ZERO in the EESA/TARP legislation - a change buried in the law that received almost no attention (except by myself and a few other bloggers!)

When the crisis began The Fed responded by loosening leverage limits further through the issue of literally dozens of "23A" exemptions to Fed Regulations - including institutions that later failed. The damage done to the financial system was thus dramatically increased by allowing these firms to increase their exposure when they got in trouble rather than strictly limiting it as regulations allegedly required.

The Fed refused to crack down on predatory mortgage, credit card and consumer lending until literally forced by Congress, which passed the credit card bill over its objections. Until threatened with same, the very same Fed refused to intervene in the practice of automatically "opting in" customers for "overdraft protection" on ATM and point-of-sale charges, going so far as to permit banks to display ATM balances that included uncleared funds so as to encourage customers to generate overdraft charges by deception!

The public is well-justified in viewing The Fed as a "villain" because it is. Whether through active malfeasance or simple idiocy The Fed has been and is directly responsible for the impoverishment of millions of Americans who were punished for their imprudent borrowing while the imprudent lenders, who should have also gone bankrupt, were protected with money extracted by force from the very same people the lenders screwed!

Here's the list of Representatives that voted against stopping the daily violations of America. They voted to allow The Fed to have their way in secret, to debase the dollar and destroy Americans' purchasing power, to double the price of oil and essential energy products, to fund chicanery and even protect those who commit fraud. Worse, they violated their oath of office to uphold and defend The Constitution, which says on this matter:

Section 8. The Congress shall have power to.....

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

The Federal Reserve does not have the power of currency debasement (or the lack thereof) - Congress does, and with good reason. Congress is accountable to you, the people.

The Fed is, at present, accountable to nobody.

Each and every one of the Representatives listed below, by voting "NAY" today, has violated his or her oath of office, has committed an act of violence against The Constitution of The United States, is unfit for their office, and must resign:

NAY - Rep. Barney Frank, MA
NAY - Rep. Paul E. Kanjorski, PA
NAY - Rep. Maxine Waters, CA
NAY - Rep. Carolyn B. Maloney, NY
NAY - Rep. Luis V. Gutierrez, IL
NAY - Rep. Nydia M. Vel?zquez, NY
NAY - Rep. Melvin L. Watt, NC
NAY - Rep. Gary L. Ackerman, NY
NAY - Rep. Gregory W. Meeks, NY
NAY - Rep. Dennis Moore, KS
NAY - Rep. Michael E. Capuano, MA
NAY - Rep. Joe Baca, CA
NAY - Rep. Stephen F. Lynch, MA
NAY - Rep. Brad Miller, NC
NAY - Rep. Al Green, TX
NAY - Rep. Emanuel Cleaver, MO
NAY - Rep. Melissa L. Bean, IL
NAY - Rep. Gwen Moore, WI
NAY - Rep. Keith Ellison, MN
NAY - Rep. Ron Klein, FL
NAY - Rep. Charles Wilson, OH
NAY - Rep. Joe Donnelly, IN
NAY - Rep. Bill Foster, IL
NAY - Rep. Andre Carson, IN
NAY - Rep. Mary Jo Kilroy, OH
NAY - Rep. Jim Himes, CT

Why don't you give 'em a call and tell 'em what you think of 'em.

I'm sure they'd love to hear from you - you can find their phone and fax numbers at http://www.house.gov.