Financial "reform" bill will guarantee more stealing the fruits of our labor
By: Devvy
May 10, 2010
The Congress has been busy. Why, haven't you seen all these stern looking professional politicians from both sides on cable news networks jockey for their "solution" to our dire economic situation?
It's all a load of highest grade manure.
What we're seeing, again, is simply more of the same. Massaging the cancer instead of cutting it out. Most members of the U.S. Congress have zero understanding of Art. 1, Sec. 8 of the U.S. Constitution. Most members of the U.S. Congress have zero understanding of our monetary system. Most members of Congress are gutless cowards. They refuse to take on the establishment elites who own the banking cartels world wide -- with the exception of Rep. Ron Paul.
Many members of the House and unlawfully seated U.S. Senate[1] [a] will not be returning in January, i.e., crooks like Christopher Dodd [D-CT] and David Obey [D-WI]. They have nothing to lose and everything to gain by voting for the interests of the world banking cartels and against we the people - and they will.
The so-called reform underway - even if the thieves in Congress actually knew the meaning of reform - is not the whole solution, it's merely another political tool to keep the money masters in control of our financial system. Instead of going for the jugular, Congress is getting ready to con us again with more rules, more regulations, more useless government jobs and lots of political posturing for the upcoming primaries and pretend election in November.
There are a few proposals that will and should be implemented, i.e., repealing the disastrous Gramm-Leach-Bliley Act, signed in November 1999, by Marxist Bill Clinton, which repealed part of the Glass-Steagall Act of 1933. You might compare that stupidity with pistons in a race car engine getting ready to rev up; the crash would take some time.
The popular Sen. Richard Shelby, lead Republican on the Senate Finance Committee wants you to support his non reform proposal:
"As the Senate moves toward a final vote on the bill in the coming weeks, Shelby said it must include reforms for Fannie and Freddie to address the root cause of the recent financial crisis. "For decades, these multi-trillion dollar institutions leveraged the implicit backing of the American taxpayer to encourage mortgage lending to people who could not afford to repay the loans," Shelby said in the weekly Republican address. "But when home prices finally collapsed, these ticking time bombs exploded, saddling taxpayers with hundreds of billions of dollars of debt," he said.
"Shelby, who has led negotiations on financial reform for Republicans, introduced an amendment to the bill last week with Senators John McCain and Judd Gregg. If adopted, the amendment eventually would strip the agencies of their mandate to promote affordable housing and reduce the government's role in mortgage finance."
Fannie Mae and Freddie Mac are illegal entities sponsored by the U.S. government. Freddie Mac is asking for another $10.6 BILLION dollar bail out. This is a bottomless pit that must be abolished, along with Fannie. It can be done in a rational, workable timetable because that debt is unsustainable. You and your children are being forced to cover the losses of a toxic system that has no legal authority to even exist.
No where in the U.S. Constitution does it authorize the U.S. Congress to enact any laws that steal from the people's purse, the U.S. Treasury, to act as lender or banker to any entity - auto, banks, FEMA, school loans and all the rest. No where in the Constitution. Yet, Congress has done nothing but steal the fruits of your labor to continue funding this massive hole in the water.
The real downfall of this republic began in 1913 when three key things happened: The Sixteenth and Seventeenth Amendments were declared ratified when they were not and the prize: The "Federal" Reserve Act of 1913 was passed December 23, 1913. The beginning of the end:
"This Act establishes the most gigantic trust on earth. When the President [Woodrow Wilson] signs this Act the invisible government by the Money Powers, proven to exist by the Money Trust Investigation, will be legalized. The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created." Charles A. Lindberg, Sr., who served in the U.S. House of Representatives.
Congressman Louis McFadden fought like a warrior to expose the operations of the privately owned Federal Reserve System and often referred to the Board as traitors dealing in dishonesty as a natural course of business.[2] Congressman Wright Patman is often overlooked in his efforts to expose the thievery of the Federal Reserve, but he was a very vocal opponent. You can read about his efforts in The Legalized Crime of Banking and a Constitutional Remedy (1958), by Silas Walter Adams. That book is free online here.
Our free enterprise system was bushwhacked long before I was born by the money masters and the out growth is all these "government sponsored" agencies that have done nothing but steal from you to give to someone else. Well, the thieves are about to get caught and this nation is going to suffer pain on a scale most people cannot understand and most are too scared to acknowledge.
The global elites who have been in control of our lives for so long have over played their hand. Their arrogance in believing a one world banking system run by a few elite at the top would work has brought us to the edge of the cliff and we are going over. I know that is scary and well it should be, however the numbers are too big and the real solutions are still being ignored by Congress. Just like the states refusing to address their financial messes over the years and that includes the massive pension fund burdens. They have all crossed the Rubicon.
Americans with their eyes open have been watching Greece, a socialist country awash in government "entitlements." The rooster has come home to croak. Now, the geniuses who made this mess in their own countries as well as ours, want to "bail out" Greece with more worthless paper and the sweat from your labor. Oh, yes, you, me, our children and grand children are going to be financially raped again to pay for the mismanagement and excesses of the Greek government.
How? Because we pay almost 25% of the tab for the International Monetary Fund, who, as of this morning, intend to throw some $287 BILLION worthless "dollars" towards this "bail out" over in Europe in an effort to stave off the same crisis in Portugal, Ireland, Italy and Spain. Our contribution is about $57 BILLION BORROWED DOLLARS.
The national debt created by Congress and sitting presidents who approve these budgets is $12.9 TRILLION dollars. "Our" contribution of roughly $57 billion to the European bankers has to be borrowed! Agree or disagree with Rep. Ron Paul on some issues, but this man knows what he's talking about when it comes to our monetary system:
Ron Paul: Euro Bailout Will Lead To Currency Collapse
“The prices are going up already, producer prices are going up, the cost of living will go up so everyone in America will suffer and eventually the whole world will suffer because we cannot carry the whole world with our dollar,” Paul told Fox Business, adding that eventually people will lose confidence in the dollar.
"The Congressman agreed with the host that the bailouts would lead to the crash of paper currencies, noting that last week's stock market turmoil was accompanied by gold acting as a currency rather than just reacting to the value of the dollar.
“Gold has been money for 6,000 years and it will remain that way and it will rule the roost,” said Paul, adding that the dollar was weak in comparison with the strength of gold. All paper currencies are under attack and this cannot be sustained,” said the Congressman.
"Paul then explained how the ECB has completely reversed its promise that it wouldn't monetize debt and how Bernanke had also gone back on his word that U.S. dollars would be use for this purpose. “When I talked to Bernanke last time in the Committee he said they had no intention of bailing out Greece but they are, through the IMF as well as opening up these swap lines to all the central banks, so it is on the shoulders on the burden of the American taxpayer and our dollar so all we're doing is perpetuating a very very bad system and this is not a solution at all,” he said." The grand plan to "save" Greece hit a snag today with Great Britain refusing at the eleventh hour to underwrite a new bridge worth billions made out of worthless paper. The wrangling will continue as the situation continues to spiral out of control. All these international thieves are doing is buying time. |
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The dirty traitors who pushed through the Federal Reserve Banking Act of 1913 made sure it was "legal" for "America's" central bank to enter into agreements with other central banks and foreign governments (we the people have NO say in the matter), all information pertaining to such transactions are to this day kept secret. You, me, our children and grand children were set up to work all our lives to enrich a relatively small number of elites while being thrown crumbs from their tables.
Oh, yes, the dominos are all lined up waiting for the gentle kiss of the siren. After such seduction, only then will the victims (we the people) realize too late the siren has fangs firmly embedded into the lifeblood of this nation: Our economy.
There can be no financial "reform" unless the unconstitutional Federal Reserve Act is abolished by an Act of Congress. Period.
Congressman Ron Paul introduced a bill to do just that back on June 15, 2007. There are no cosponsors. A year later, the people of this country got a slap in the face as the banks melted down and their 401(k)s lost value faster than a speeding bullet. Rep. Paul's bill has been ignored by Congress because those who do understand the dark forces are cowards. They will not take on the most powerful money masters on this earth and you, your children and grand children -- we as a nation are about to pay the price. The rest of Congress are ignorant of our monetary system and why it is doomed to fail.
No Guarantees at the Pension Benefit Guaranty Corporation, May 3, 2010 - This represents YOUR retirement and all you have worked for in this lifetime:
"PBGC reported in November that its deficit — the gap between its current assets and its future obligations — grew from $11.2 billion in fiscal 2008 to $21.9 billion in fiscal 2009, reversing several years of progress.
"Meanwhile, the corporation reported its potential obligations to cover future pension losses from financially troubled companies more than tripled from $47 billion at the end of fiscal 2008 to about $168 billion at the end of last year.
"Among the companies whose pensions PBGC have recently been forced to assume are the electronics retailer Circuit City, the IndyMac Bank, and the Lehman Brothers investment firm. And General Motors’ and Chrysler's continued losses leave their massive pension plans hanging in the balance, potentially adding $42 billion in auto industry retirement obligations to PBGC’s burden if they went under, the Government Accountability Office reported April 6. The auto makers reported last month their condition is improving, but losses continue to accumulate."Tragically, the American people will vote back in their incumbent in Congress to reward them for taking this nation to utter ruin. On March 2, 2010, here in Texas, every single incumbent in Congress (except the seats up for grabs) won their primary and unless something earth shattering happens, they will all go back to Congress in 2011.
Congressman Ron Paul's bill to audit the "FED," has 319 cosponsors, yet it sits rotting in a rotten Congress. The U.S. Senate, has stripped and watered down the bill to protect Wall Street and the world banking elites.
Real solutions aren't even being mentioned in this latest financial "reform" bill. If you don't go back to where the problem started, you cannot fix it.
We know that the Federal Reserve Act is unconstitutional, without question. Next came Bretton Woods. I've written about this before because Bretton Woods IS the financial foundation for one world banking and collapse. When these untied States of America signed onto Bretton Woods, our government sliced out a huge part of our independence and sovereignty and handed over the fruits of our labor to leviathan monster scams like the Bank of International Settlements and the International Monetary Fund.
There was an impressive headline sure to please conservatives that is just more smoke and mirrors: GOP continues effort to thwart EU bailouts. "Should Spain request a bailout from the IMF, we urge you to make it clear that the U.S. will oppose such a bailout, and do all in its power as the IMF's leading contributor to reject putting American money further at risk," they wrote. "The U.S. did not implement the policies that have caused Spain's debt issue and the U.S. taxpayer should not be put at risk to bail them out." The lawmakers have already sent a letter to Treasury Secretary Timothy Geithner calling on him to oppose the $145 billion bailout of Greece, as well as future European bailouts."
Big whoop. The Republicans had control of Congress from Jan 1995 - January 2007; eight years with a Republican president. Yet, not a single bill was introduced to get us out of the Bretton Woods agreement, immediately stop ALL payments to the BIS and IMF. No, instead, as I wrote above, you will go to work today to foot part of the bill to reward the Greek government for destroying their economy because the IMF will make the bail out. It's just the beginning.
THAT is the end result of America being involved with all these international monetary agreements. The Republicans can object all they want. They can send Geithner a thousand letters while he and the money cartel continue to wag Congress' tail. As long as we are a participant in Bretton Woods, the rape will continue. As long as the "FED" is in operation, the fruits of our labor will be stolen to enrich the elite few.
The "reform" bill which will be voted on and likely passed by both Republicans and Democrats does nothing more than allow the continued plunder of the people's purse. The financial rape will continue, funded by the fruits of our labor. No? Is THIS what you went to work for today?
EU creates $1 trillion package to save euro
"The Fed's move to back the euro defense plan reopens a program put in place during the 2008 global financial crisis under which dollars are shipped overseas through foreign central banks. In turn, these central banks can lend the dollars out to banks in their home countries that are in need of dollar funding in so-called swap agreements.
"The Fed said action is being taken "in response to the reemergence of strains in U.S. dollar short-term funding markets in Europe" and to "prevent the spread of strains to other markets and financial centers." A "swap" line with the Bank of Canada provides up to $30 billion. Figures weren't provided for the other central banks involved. They include the Bank of England, the European Central Bank, the Swiss National Bank, and the Bank of Japan."
The "Fed" will print up more confetti paid for by who when these banks continue to default along with foreign government? Where in the U.S. Constitution does it authorize this kind of financial shenanigans blessed by Congress? It doesn't, but since the "Fed" is a privately owned consortium of bankers, they do what they damn well want while members of Congress play important.
The increase in withholding taxes from your paycheck will continue to deprive you of the ability to afford to provide even the basic needs for your family. Each session of Congress is two years. More than ample time to write a single bill for each issue and stop these 1000, 17000 or 2500 page bills that hide so much treachery and treason. That will NOT happen if the same incumbents are returned to Congress. They didn't get the job done the entire time they've been in Congress and it won't happen if you reward them again.
Slick attorneys writing this "reform" bills for members of Congress are writing away the lifeblood of this republic. They work not to save capitalism, but to burn it at the cross of money for the bankers. Unless and until you cut out the cancer, the patient will continue to die a slow painful death. As I have mentioned many times on my radio show: I don't hear any candidates for Congress talking about abolishing the FED, getting us out of Bretton Woods, all the foreign entanglements and stopping ALL foreign aid to any country on this globe. All illegal under the U.S. Constitution.
As for incumbents, Richard Shelby, Pelosi, Libermann, Rangle, Patty Pancake Murray, King, DeMint, McClintock, Snowe - take your pick - NOT ONE OF THEM has ever taken a single step towards returning the banking system to the private sector and removing America from the Titanic. Now, it's too late. The next target is your 401(k) to "help" pay down the debt and promise you more worthless paper a few decades down the road. The trial balloons have already been floated.
The states of the Union have not acted to protect themselves by implementing a sound money bill in their state. A tragedy. Thousands of Americans have been hammering on their state legislatures to get a bill passed and operational. Too many political animals in these state legislatures either don't understand the problem or refuse to vote for a bill because it's not their party's idea.
Stop listening to the drivel on the stupid tube and from politicians about a recovery, slow or otherwise. Start listening to those who do understand the markets and what is happening globally because it is going to affect YOU even more than what we've seen over the past few years. The global money masters who own Washington, DC., are not going down without a fight and everything you have ever worked for is now in jeopardy. Every move made by the usurper in the White House has been calculated and Obama/Soetoro's job isn't finished yet.
I am not a financial investment planner or gold dealer, but those holding paper currency are holding nothing. If you haven't diversified some of your worthless federal reserve notes yet, I urge you to purchase gold before the price skyrockets. Gold never loses it's value, but inflation is going to eat your "dollar". Actually, the acceleration is already underway and that is why investors are flocking to gold. That is why the richest elite on this globe own gold, not paper currency.
Because events are so fluid and dire, people shouldn't panic, they should (as I have written for years) carefully consider the big picture and begin planning now. Regardless of what caused last week's thirty minute chaos on the stock market, it can happen again whenever the powers that be want to remind us who is in charge. Communist China holds most of the toxic paper the federal government has put into debt for over the decades. Think China is too big to fail? Think again and be forewarned: One day there will be no one to buy the massive debt created by Congress and sitting presidents. The only options then are for the the U.S. government to default or simply take everyone's paycheck via massive taxation and your retirement and pension funds. Think it can't happen?
Give Robbie Westfall, owner of RWI Coins, Inc., a call. Talk to him or one of his knowledgeable people about gold and protect what you have left. Robbie wholesales to gold dealers and has been in the business a long, long time. I trust his advice, but this isn't for me, it's about your survival and your family's future. Robbie's number is: 813.977.7200.
Time is in short supply for all of us. Like all researchers, there is more information out there than any one person can absorb. Below in the links section, are items I feel are the most factual to help all of us understand the situation better. The name of the game now is survival. Between the belligerent, militant illegal aliens and their enablers, and the refusal of Congress to pass solutions instead of more Band Aids, the worst is coming. Ignoring hell won't keep you from getting burned.
Bob Chapman, who writes The International Forecaster and has been in the financial world for 50 years will host my radio show, May 13, 2010. I listened to him about the housing market back in 2005. John and I were able to get out of our house in Sacramento with a small profit; two months later that upscale housing development went into foreclosure on a mass scale which continues today. Had I not heeded Bob's advice, we would still be there in a house that is now worth $170,000 less than the day we closed escrow. The people who bought our house will never be able to sell it for even close what they paid. I hope you can tune in and listen to this man's wisdom and experience.
Footnotes:
[1] Seventeenth Amendment Fraud
[1a] Fact page on Seventeenth Amendment
[2] Congressman Louis McFadden
Congressional Record, June 10, 1932
Watch these video clips. This man knows what he's talking about because he, like Peter Schiff, Ron Paul and Dr. Edwin Vieira, Bob Chapman -- all predicted what we've seen happen over the past 20 years long before the actual events.
Gerald Celente: Crash of 2010 inevitable
Gerald Celente on Greece Riots
The Dodd Bill: Bailouts Forever
The Fed Admits To Breaking The Law
High-End Homeowners Falling Into Foreclosure Trap
40 MILLION Americans now on food stamps
US Food prices are hitting the roof
Our purse is overdrawn almost $13 TRILLION dollars and still Congress continues to throw money illegally at foreign governments:
America: Do you feel violated yet?
Security for who? Graft and corruption
US senators call for $3.5 billion in American aid to help
Haiti recover from quake (five months later)
Reality:
Unions Want to Take Over Your 401(k)
Trillions in IRA funds could be forced into U.S. Treasury debt
Retiree Annuities May Be Promoted by Obama Aides
40l(k)/IRA Nationalization Quietly Moves Forward
US faces inflation or default
"SKYNET" threatens the markets -
And this time Arnold can't save us!
Congressional Hypocrites Were Betting
Against Stocks As Country Collapsed
Market manipulation?
The Dow's Phony New High
Bilderberg Manipulated Stock Market Crash
Devvy Kidd authored the booklets, Why A Bankrupt America and Blind Loyalty; 2 million copies sold. Devvy appears on radio shows all over the country. She left the Republican Party in 1996 and has been an independent voter ever since. Devvy isn't left, right or in the middle; she is a constitutionalist who believes in the supreme law of the land, not some political party.
Visit Devvy's web site at: https://devvy.com. You can also sign up for her free email alerts.
Copyright © 2010 Devvy Kidd
All rights reserved.