In November of 1910, Senator Aldrich and a coterie of the financial elite made a secret journey on a private train to Jekyll Island, Georgia to plan the creation of a private national bank. The result was the creation of the Federal Reserve System in 1913 that has grown and supplanted our nation’s sovereign economy of specie money with the current fiat currency scheme. This subversion has resulted in our privately engineered economy of today. Congressional excesses, derivative pile-ups, bubbles, busts and bail-outs, unfathomable and unpayable debts and the conversion of all manner of property interests into the banking cartel’s hands are the present result of this scheme. When their plan was foisted upon the American people in the early 1900’s, the bankers publicly pretended they opposed it, so it would pass congress. Their comrades in congress who supported it, hailed the Federal Reserve Act as the answer to all the problems that it would later cause—on a scale that was unimaginable then.
Today they don’t have to slip away secretly on a private train, to a private resort to plan their deeds. Their meetings and organizations are well known and protected from public outcry by battalions of police. Their policies that govern nationally and globally, are implemented by their own private institutions, only occasionally veiled as public entities. Their plans are published, often before the meetings that cement them. The scale of operations is now global, as every nation has succumbed to the fiat empire.
We people have been ranting and screaming about the coming collapse—the end of money as we know it—the great crash, for decades. We have extolled upon one set of details or another that will surely lead to imminent financial Armageddon. It never happens. Where did all the prognosticators go wrong?
It’s not our economy—it’s theirs. It was created and is run by the global financial cartel—and they are very good at it. It does exactly what they tell us it will do. They will continue their financial conquest of the world, precisely according to their plans. If we want to understand the future they have planned for us, we should listen to what they have to say. (JW)
Recent fervor surrounding the notion of auditing the Federal Reserve has made great inroads to raise awareness as to the true nature of it and its functionaries. It is the Money Press of the Administrative Fourth Branch of the Federal and some say global Government, and as such, beholden to no one. Consider former Fed. Chairman Alan Greenspan's remarks on the September 18, 2007 News Hour with Jim Lehrer:
"JIM LEHRER: What is the proper relationship, what should be the proper relationship between a chairman of the Fed and a president of the United States?
ALAN GREENSPAN: Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't, frankly, matter. And I've had very good relationships with presidents."
The second President under the Constitution for the United States of America, John Adams is noted as remarking:
"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation."
And while no issue is more important than understanding the true nature of money, some might say there is more to this recent enlightenment than meets the eye. Let this gentle entreaty serve as a cautionary reminder that many wise men have fallen prey to the craft and sophistry of the money powers. Dare we be so obtuse to believe the powers working to produce the Federal Reserve nearly 100 years ago have either become dullards or been suddenly vanquished? How then do we explain the magnanimous recent support of legislation like H.R. 1207 and S. 604 (audit the FED bills), introduced over 25 years ago?
On October 19, 2009, the Wall Street Journal reported that Andrew Crockett, president of J.P. Morgan Chase International and former general manager of the Bank for International Settlements (BIS), a central bank for central bankers, says it is time to give Asia it’s due...."It would be a mistake, in my view, to focus only on the IMF and World Bank," he said at a luncheon address at the San Francisco Fed’s conference on Asia in Santa Barbara. "The global financial architecture is going to need to be rewritten....But the IMF and World Bank might not be the places where the work gets done."
"Asian officials," he said, "ought to set their sites on two new international bodies that have emerged in the wake of the crisis as drivers of global economic policy."
The first is the G20, which is an association of leaders from the world’s largest economies which has been expanded from the G7 to include more emerging markets. The other is the Financial Stability Board, which was formed in April by G20 leaders to promote global financial stability.
"It seems likely that the FSB will be the forum that develops the regulatory structure of a reformed financial system." A third, he said, is the BIS itself, which is working closely with the FSB.
This is an astonishingly candid admission when one is equipped with the facts. Some questions should immediately arise.
Who within the FSB forum will rewrite global economic policy? Will it receive directives from its parent organization, the BIS, as is implied by Crockett's statement? And how will these new rules affect the people everywhere, including Americans?
It would appear the script has already been written, the answers already delivered. The fact is, other organizations are directly linked to the mechanisms mentioned by Crockett. One is the G30, a coterie of bankers' bankers and its four man Steering Committee chaired by the President's Economic Recovery Advisory Board Chairman Paul A. Volcker. Consider too, the Financial Sector Assessment Program (FSAP), a sweeping yet specious, largely self-assessed IMF and World Bank audit system presently underway in China, Indonesia, and the U.S. - which includes the Federal Reserve.
Yes, the Federal Reserve is at present undergoing an unprecedented audit, a fact well known by financial insiders yet receiving scant media attention. It is important to note the IMF FSAP calls for the same concept of transparency the aforementioned legislation advocates. In fact, the IMF through the FSAP predates the recent Audit the Fed surge in calling for landmark transparency. In 2006 the IMF lauded the Republic of Belarus for its transparency of monetary policy and banking supervision. Could the IMF and the Audit the Fed agenda be on a parallel course?
At each of the 2009 G20 meetings world leaders seemed more than willing to echo an eerily resonant tune; one strikingly similar to measures advocated in a little known 82 page G30 Steering Committee brief titled FINANCIAL REFORM A Framework for Financial Stability. The January 15, 2009 report outlines the following measures:
Gaps and weaknesses in the coverage of prudential regulation and supervision must be eliminated by:
Prudential Regulation and Supervision of Banking Organizations;
Consolidated Supervision of Non-Bank Financial Institutions;
Money Market Mutual Funds and Supervision;
Oversight of Private Pools of Capital;
Government-Sponsored Enterprises (GSEs).
The quality and effectiveness of prudential regulation and supervision must be improved by:
Regulatory Structure;
Role of the Central Bank;
International Coordination.
Institutional policies and standards must be strengthened, with particular emphasis on standards for governance, risk management, capital, and liquidity by:
Regulatory Standards for Governance and Risk Management;
Regulatory Capital Standards;
Standards for Liquidity Risk Management;
Fair Value Accounting.
Financial markets and products must be made more transparent, with better aligned risk and prudential incentives. The infrastructure supporting such markets must be made much more robust and resistant to potential failures of even large financial institutions by:
Restoring Confidence in Securitized Credit Markets;
Rating Agency Reforms;
The Oversight of Credit Default Swaps (CDS) and Over-the-Counter (OTC) Markets;
A Resolution Mechanism for Financial Institutions;
Improving Transparency of Structured Product Markets;
Sharing Market Activity and Valuation Information.
Notice even the G30 Steering Committee is advocating improving transparency. But let's focus on the Resolution Mechanism for Financial Institutions. This legal regime, as the Committee termed it, is likely an allusion to the FSB, in alignment with Crockett's recent remarks.
This section of the report advocates sweeping powers and authority delegated to, "a legal regime....established to provide regulators with authority to require early warning, prompt corrective actions, and orderly closings of regulated banking organizations, and other systemically significant regulated financial institutions. In the United States, legislation should establish a process for managing the resolution of failed non-depository financial institutions (including non-bank affiliates within a bank holding company structure) comparable to the process for depository institutions."
Translation: alarming decision and enforcement authority appointed or granted to an elite off-shore institution.
The section goes on to advocate delegating powers, "comparable to those available for the resolution of banking institutions [to] be empowered to act as a receiver or conservator of a failed non-depository organization and to place the organization in liquidation or take action to restore it to a sound and solvent condition.". This section further advocates "special treatment [for this proposed legal regime] accorded to various forms of financial contracts under current U.S. law should be examined in light of recent experience, with a view toward resolving claims under these contracts in a manner least disruptive to the financial system."
In other words: plenary powers, authority and impunity would be given to this newly emergent august body discharged with the presumptive duty of regulating global financial affairs - particularly of those once removed from the mainline (i.e., central banking) financial system.
This equates to deputizing a skulk of foxes to arrest the roosters in the hen house. Incidentally, of the 46 members, senior members, and emeritus members that read like a political and financial who's who list, at least three, Paul Volcker, Timothy Geithner, and Lawrence Summers are Obama administration officials with a fourth being Paul Krugman, influential NY Times voice and former Reagan era Council of Economic Advisers staff member. Many are also London School of Economics and Political Science alumni.
Essentially the same measures advocated to Audit the Fed are being advocated by the IMF, the BIS, the 46 member G30, and its 4 member Steering Committee. Leading the charge of unified G20 talking points, in light of the history of the creation of the Federal Reserve on Jekyll Island a century ago, one must ask—is this the same setup on a global scale?
To learn more visit:
Greenspan Examines Federal Reserve, Mortgage Crunch (September 18, 2007)
http://www.pbs.org/newshour/bb/business/july-dec07/greenspan_09-18.html
JPM Executive Says Asia Should Look Beyond IMF (October 19, 2009)
http://blogs.wsj.com/economics/2009/10/19/jpm-executive-says-asia-should...
Financial Sector Assessment Program (FSAP)
http://www.imf.org/external/NP/fsap/fsap.asp
Republic of Belarus: Financial Sector Assessment Program - Technical Note -Transparency of Monetary Policy and Banking Supervision (May 18, 2006)
http://www.imf.org/external/pubs/cat/longres.cfm?sk=19248.0
G20 Publications
http://www.g20.org/pub_further_pubs.aspx
DECLARATION SUMMIT ON FINANCIAL MARKETS AND THE WORLD ECONOMY (November 15, 2008)
http://www.g20.org/Documents/g20_summit_declaration.pdf
FINANCIAL REFORM A Framework for Financial Stability | G30 Steering Committee (January 15, 2009)
http://www.group30.org/pubs/pub_1460.htm