Posts Tagged ‘banking’

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The guidelines clarify that financial institutions may accept accounts from marijuana-related businesses that, in essence, are otherwise on the right side of the law—meaning they adhere to local statutes and Justice Department priorities (like not selling to minors.)

Feds offer banking rules for legal-pot industry

 

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Save the world from the banksters…

 

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“It’s a total puppet show!”

Moore postures himself as an eternal independent, despite his actual record say, around 2004.  Still, he calls out the “duopoly” and the crimes of Democrats as well, even back in Vietnam.  Pretty good interview though, and Moore’s works on the health care and Wall Street crime sprees are valuable and needed.  Moore also talks about the death threats and assaults, post Fahrenheit 9/11 and whether or not he would do it again.  An important filmmaker no matter your opinion of him…

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“It is the cause of most of the world’s hunger, poverty, misery and disease.”

-Bill Still (Official Website)

by Scott Baker

Last night I watched Bill Still’s newest film “Jekyll Island.” For those who’ve seen “The Money Masters,” and especially the more recent “The Secret of OZ” (2009), they won’t find too much new here, although a lot has happened in the last 4 years, and Still takes us all  the way into early 2013.  The overall point though is that the Money Masters have been controlling the money supply, creating booms and busts deliberately, for hundreds of years.  This goes beyond Georgist theory which says the Land Cycle is ultimately the cause of booms and busts – unfortunately I’ve been unable to persuade Still in my few discussions with him that there is a Land Cycle underlying the “Business Cycle” though both of us recognize the latter is a false explanation.  But in this movie, Still has presented good evidence that at least some busts like the 1871 and 1891 depressions, were deliberately induced as a way for the banking elites to gain both control of the money supply, and to possess hard assets like housing, and that this kind of action goes back to the Rothschilds, who bet correctly against France during the Napoleonic wars (also successfully countering Napoleon’s attempt to essentially create a Public Central Bank, independent of the Rothschilds).  This changes the conclusion from the inevitable Land Cycle (Henry George, Mason Gaffney, Homer Hoyt,  etc.), to the inevitable Conspiracy Cycle of the banking elites, but I am still  unconvinced at least some, or even most, of the booms and busts were not caused by money power ignorance of the Land Cycle and greed over-riding common sense.  As many of the experts in the movie attest, the average economist, with his obfuscating charts and theories, often knows less about what actually goes on than the man on the street.  Furthermore, why push your firm to the edge of bankruptcy, and sometimes over it (Lehman Brothers, AIG, Countrywide Financial), when you are so smart you can avoid it?   So then, who are the experts who saw it coming, again and again?  The Rothschilds and Rockefellers, perhaps, but this narrow band of profiteering rascals is not quite enough evidence to construct a theory of a continuous worldwide historical conspiracy.

Still shows that dreams of international monetary systems, including the failing Euro – which Monetary Reformer Stephen Zarlenga backed and which he has yet to apologize for, or explain the current failure of – would lead to further nightmares, making it even harder to achieve monetary sovereignty and escape the clutches of the trans-national banking elites.   This is the clear lesson from the Euro experiment, now unraveling.

I do wish Still had delved into Lincoln’s assassination more,  finding the connection to bankers backing John Wilkes Booth and his dozen or so co-conspirators, documented in Gerry McGeer’s book, “ The Conquest of Poverty ” but he DID tie the attempt on president Andrew Jackson’s life, after he closed the Second National Bank of the U.S., to the banking elites.   Still also documents their support of bank-friendly  William McKinley  against populist William Jennings Bryan who wanted to end the dearth of money by bringing back the bank-squashed silver certificate (Kennedy would fare even worse in the effort to re-institute  Silver Certificates , with many people believing  this effort was behind his assassination  in 1963, possibly including his then-hysterical V.P. Lyndon Johnson).

I do take issue with Still’s poorly defined explanation of fractional reserve banking.  Although he traces the history of it well – beginning from the goldsmith’s issuance of 10X the value of their gold holdings because they realized that only 1/10th of the people holding gold in their vaults ever came to collect their gold at any one time (this led to the more modern 10% fractional reserve requirement, nevertheless now obsolete) and ending with the 2008 crisis where leverage of 50X or even 300X occurred  – he fails to deal with the large number of banks, including the State Bank of North Dakota (BND), who never loan out even as much as they have on deposit (though the actual funds are not from the same source here either).  If all banks loaned just the same amount they had on deposit, or actually less in the case of regular banks like the BND and its partner small banks, which typically have loan to asset ratios of 75%, or less, we would have had a manageable crisis.  It was the massive leveragers like Bear Sterns and Lehman Brothers (40:1) and AIG (with counterparty Goldman betting at up to 300:1 leverage), which caused the panic and near collapse.  Still could have made this important distinction, but didn’t, thereby letting all banks be tarred with the same brush and losing an opportunity to link forces with the growing public banking movement (in the 2012 election, Bill Still ran for president on the Libertarian ticket and asked Public Banking Institute founder Ellen Brown to be his V.P. running mate).

I bring this up to show – unsurprisingly to many readers here, I’m sure – how long and how completely the financial elites have been screwing the ordinary citizens, and even government, which as many know – including countless experts like the Positive Money people in this new film, but, tellingly, NOT Stephen Zarlenga, who once dismissed Still as a “salesman” in conversations with me (this is the reason, perhaps, that Zarlenga is not quoted or interviewed as an expert in this film, despite his big yellow tome “ The Lost Science of Money ” appearing on so many academics’ bookshelves) could simply retake the sovereign right to “coin Money” anytime it wanted to if it wasn’t for the  massive disinformation campaign since the 1970s.   In part this is caused by the thousands of Federal Reserve Bank-aid agents, documented in the film, working in the economic realm of academia, the media, and politics.  That they sell interest rate Put Options to confused buyers when they CANNOT default on money they create autonomously, as shown in FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields , should not surprise us either.  This  video claims this is fraud, but if so, it is Baby Fraud.  The Parent Fraud is that we are told we need to borrow what we could simply create , under Article 1, Section 8 of the constitution and as affirmed by SCOTUS in the 1884 8-1 decision in Julliard v. Greenman — also insufficiently covered in Jekyll Island .

Dollars funnel.

However, as Still’s experts point out, it is to the elites’ advantage to make us think the system is so horrendously complex that mere mortals cannot hope to understand it, and must, therefore, trust the experts.  More modern layers like Put Options and other forms of morally hazardous insurance may indeed be too complicated to understand, by anyone, but the concept of charging unsustainable interest on money issued by wealthy monopoly elites is not.   Government borrowing, as Still shows, is  both unnecessary and injurious to the Republic.  Government is not over-printing money, it is over-borrowing it.  This is the first time, I believe, that Still has identified in his movies that taxes are unnecessary, as Greenbacking – the act of government producing debt-free money – could simply fund all its needs, with inflationary over-production being handled by taxes – the Modern Monetary Theory position as well as Positive Money’s.

So, what both videos show is that the banking elites at the FRB are getting desperate, relying more and more on obscure leveraging tools to hide the fact that there is little backing the full faith and credit of the U.S. now that our productive capacity has been off-shored, or at least become far to little to support the inflated financial edifice of the derivatives mother-of-all-bubbles.  Solution: more derivatives!  This madness can only end one of two ways – either with a spectacular crash unlike anything the world has ever seen, where virtually the entire banking establishment collapses and money disappears (this nearly happened in Jackson’s time as well as during the Greenback reduction era, post Lincoln), OR with the creation of alternative money systems, most especially sovereign money produced by government.

Unlike in the past, the traditional approach to simply invading other lands and stealing their resources – and having the loser’s debts absorbed, often along with the country, into the victor’s country – won’t work much longer. Now, everyone is in debt, unless they have a public central bank like China or India etc., and America is the leading debtor nation.   No amount of invasion of Libya/Iraq/Afghanistan and possibly upcoming Syria and Iran, etc. will change that, because they are not the source of the problem, though bankers DO love such militarism, going back to the Rothschilds.

Since government is institutionally captive to the banking elites, only a popular revolt against this system will bring about the needed change – IF people are not so disenfranchised and marginalized by the non-choices offered up by the elites that they cannot effectively demand change.  That is certainly the case today, but there are cracks, as these recent movies and videos show. Are they enough?  I don’t know.  Stay tuned.

Scott Baker is a Senior Editor and Writer at Opednews, and a blogger for Huffington Post.  Scott is also President of Common Ground-NYC (http://commongroundnyc.org/), a Geoist/Georgist group.
PS:
Interview with Bill Still

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Dan Ariely on the Truth About Dishonesty,

http://www.youtube.com/watch?v=XBmJay_qdNc&feature=player_embedded

Some are hyping this service as a replacement for banks.

 

Personally, I like a credit union with oversight and actual physical presence under the jurisdiction of some government entity(ies).  This may catch on, but it does seem to have a weakness, and that is the integrity of the system not getting hacked, such that digital “coins” don’t just disappear one day.  See what you think?

Everything works perfectly, until it doesn’t. Then what?
 

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RADiUS-TWC Picks Up Economic Doc ‘Inequality For All’

“An Inconvenient Truth’ for the Economy”

Go to film website.

 

 

 

For Christmas, why not consider watching It’s a Wonderful Life, below?

 

Frank Capra’s masterpiece has lived on as THE Christmas Movie, in part because it’s in the public domain.  Yes, anyone, anywhere can play the film or broadcast it, now that it has slipped into the public domain.  A couple of years ago I caught the DVD version, and interviews with Capra’s son.  Through a clerical mistake the film’s copyright lapsed.  Then it became the most played Christmas movie of all time mostly because it was free, and no royalties need be paid by television broadcasters.

The film should resonate today, as its main character is fighting the evil banksters of the day by championing a public interest bank, like a Credit Union.  Economist Ellen Brown has been writing about similar struggles as in the Bank of North Dakota, and efforts to enact state banks that don’t siphon off profits to private profiteers.

The Public Banking Institute is the place to go learn more about that.  Their site proclaims, “Public Banking — it already works in the United States and is catching on! 20 States are considering some form of state banking legislation.”

P.S.

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“Peace on earth and good will toward men (and women).”

[While this article does not deal with film, it does advance Ellen Brown's previous article, and it's just good, solid information that people need to see. -JG]

The Mysterious CAFRs:
How Stagnant Pools of Government Money Could Help Save the Economy

Ellen Brown
www.webofdebt.com/articles
May 21, 2010

For over a decade, accountant Walter Burien has been trying to rouse the public over what he contends is a massive conspiracy and cover-up, involving trillions of dollars squirreled away in funds maintained at every level of government. His numbers may be disputed, but these funds definitely exist, as evidenced by the Comprehensive Annual Financial Reports (CAFRs) required of every government agency. If they don’t represent a concerted government conspiracy, what are they for? And how can they be harnessed more efficiently to help allay the financial crises of state and local governments?

The Elusive CAFR Money

Burien is a former commodity trading adviser who has spent many years peering into government books. He notes that the government is composed of 54,000 different state, county, and local government entities, including school districts, public authorities, and the like; and that these entities all keep their financial assets in liquid investment funds, bond financing accounts and corporate stock portfolios. The only income that must be reported in government budgets is that from taxes, fines and fees; but the investments of government entities can be found in official annual reports (CAFRs), which must be filed with the federal government by local, county and state governments. These annual reports show that virtually every U.S. city, county, and state has vast amounts of money stashed away in surplus funds. Burien maintains that these slush funds have been kept concealed from taxpayers, even as taxes are being raised and citizens are being told to expect fewer government services.

It is hard to envision how all the municipal governments hording their excess money in separate funds could be complicit in a massive government conspiracy, but if that is not what is going on, why such an inefficient use of public monies?
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