Policing the Schutzstaffel

Adolf Hitler inspects the Leibstandarte SS Adolf Hitler on arrival at Klagenfurt in April 1938. Heinrich Himmler is standing slightly behind Hitler’s right side.

By: Terresa Monroe-Hamilton - NoisyRoom

Those who know history, know that tyrants constantly ‘cleanse’ or ‘purge’ their ranks of those they perceive as disloyal to the powers that be. They rule with an iron fist and with total control, because not to is to expose their political jugular to their enemies. It truly is dog eat fascist dog. This is very true in the Obama sphere of influence and within the ranks of his court. So, in the true tradition of dumping earth shaking news before a holiday or on a Friday, the day before Thanksgiving, Obama published a memo laying out guidelines for executive agencies to establish “effective insider threat programs.” Though vague, the wording is noteworthy and very interesting:

For Immediate Release
November 21, 201

Presidential Memorandum — National Insider Threat Policy and Minimum Standards for Executive Branch Insider Threat Programs

MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES

SUBJECT: National Insider Threat Policy and Minimum Standards for Executive Branch Insider Threat Programs

This Presidential Memorandum transmits the National Insider Threat Policy and Minimum Standards for Executive Branch Insider Threat Programs (Minimum Standards) to provide direction and guidance to promote the development of effective insider threat programs within departments and agencies to deter, detect, and mitigate actions by employees who may represent a threat to national security. These threats encompass potential espionage, violent acts against the Government or the Nation, and unauthorized disclosure of classified information, including the vast amounts of classified data available on interconnected United States Government computer networks and systems.

The Minimum Standards provide departments and agencies with the minimum elements necessary to establish effective insider threat programs. These elements include the capability to gather, integrate, and centrally analyze and respond to key threat-related information; monitor employee use of classified networks; provide the workforce with insider threat awareness training; and protect the civil liberties and privacy of all personnel.

The resulting insider threat capabilities will strengthen the protection of classified information across the executive branch and reinforce our defenses against both adversaries and insiders who misuse their access and endanger our national security.

BARACK OBAMA

Go ahead, read that memo again. Now explain to me how that is not an official government document that says in essence, “stop snitchin’.”

There will be those out there that will immediately pipe up with this being a valid move to halt insider leaks on sensitive issues, especially concerning Homeland Security. But wait, there’s more to this than meets the eye (isn’t that always the case with Obama?). In a stealth, but massive power grab, we have watched in horror as the Executive Branch has consolidated more and more power, making Congress irrelevant and to all appearances, making the three branches of government (or as Obama might say, the three branches of power), one in reality and invalidating the Constitution and our God-given freedoms we once knew and cherished. If you believe the media propaganda arm of the government, we did this willingly and enthusiastically — we did not and we continue to resist this trend. With the crafty use of czars and executive orders, instead of a transparent political system, Obama has converted it into a closed self-policing collective, where the loyal are rewarded and the dissenters are harshly dealt with. Government employees observe, note and report on one another now, much as the Nazi SS did.

Words matter, as do definitions and Obama has redefined what security and treason mean at the base level. A threat is now perceived as anyone who stands against Obama or his regime. This type of brutal control has foreshadowed some of the greatest atrocities in history. You only have to look to the Schutzstaffel for clarification:

The SS grew from a small paramilitary unit to a powerful force that served as the Führer’s “Praetorian Guard,” the Nazi Party’s “Protection Squadron” and a force that, fielding almost a million men (both on the front lines and as political police), managed to exert as much political influence in the Third Reich as the Wehrmacht (Germany’s regular armed forces).

As those in our Marxist government now march in lockstep and chant Obama’s version of ‘Sieg Heil!’, the noose is tightening on America and what we once stood for. This is now spreading across the globe. The seizure of total control is closely followed by war. Every time. Those who would step forward to raise the alarm against the crimes of our leaders are being silenced. They now wind up in prison, de facto political prisoners. A disturbing part of that trend are those who speak against the Muslim Brotherhood and Obama’s love affair with them. Can’t America see what is really transpiring here? We must not silently let this menace continue to grow while strangling our freedoms. From The Daily Kos:

… promote the development of effective insider threat programs within departments and agencies to deter, detect, and mitigate actions by employees who may represent a threat to national security.

With regards to National Security:

…encompass potential espionage, violent acts against the Government or the Nation, and unauthorized disclosure of classified information,…

Does it seem to anyone else, that the term ‘National Security’ has been expanded in scope to include protecting the Administration from any consequences of its misconduct?

These evil individuals know that good, strong patriots are among their rank and file and they fear them. Thus they must be watched, controlled and possibly removed. Those with patriotic convictions will be considered violent simply for their viewpoints. Violence is in the eye of the fascist. Whistleblowing becomes espionage and the penalty is severe. The very definition of transparency has become opaque.

To muddy the waters and confuse those who would cause trouble even more, Obama just signed a bill that would protect those federal employees who expose fraud. But there is a catch – they are only protected if they are the first to report the misconduct. On your marks, get ready, rat out your co-worker!

From The Blaze:

The New York Times has pointed out in the past that the Obama administration has prosecuted more government officials for leaking information to the press than any other administration combined.

These policies, regulations and subjective laws are being used in connection to the Bradley Manning case (WikiLeaks) and others. These maneuvers will be utilized to provide cover and silence those involved in Benghazigate, Fast and Furious and a whole host of corruption involving Obama, Jarrett and their henchmen, while protecting the Muslim Brotherhood and covering the vast connections between Obama, Jarrett, Rice and others with Iran, Turkey and other radical Islamists. Are you beginning to see a trend here? I am.

Policing the Schutzstaffel is just one piece of a very evil picture that is gaining clarity. As one high-level intel individual roughly put it: I don’t fear another attack on the US, I fear the fall of the US without an explosion. America is falling from within without a shot fired. Looks like Obama’s SS is doing its job thoroughly.

Video: Obama Is Going Dictator!

Obama and his banker controllers are taking the power of the purse away from congress. And this is only part of a larger occupation.

Egypt Judges Suspend Work to Protest Morsi Power Grab Decrees… But America Re-Elects Power Grabbing Obama?

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Customer Deposits Are Property of the Bank: Close Your Account NOW

By Susanne Posel - heintelhub.com - August 24, 2012 – h/t to MJ

In June of 2012, Eric Bloom, former chief executive, and Charles Mosely, head trader of Sentinel Management Group (SMG) were indicted for stealing $500 million in customer secured funds.

Both Mosely and Bloom were accused of “exposing” customer segregated funds “to a portfolio of highly risky derivatives.”

These customer funds were used to “back up personal investments” which were part of “collateral for a loan from Bank of New York Mellon” (BNYM).

This loan derived from stolen customer monies was “used to purchase millions of dollars worth of high-risk, illiquid securities, including collateralized debt obligations, or CDOs, for a trading portfolio that benefited Sentinel’s officers, including Mosley, Bloom and certain Bloom family members.”

Fast forward to August 9th of 2012, and the 7th Circuit Court of Appeals (CCA) rules that BNYM can be moved to first in line of creditors over the customers that had their funds stolen by SMG.

When a banking customer deposits their money into their bank account, the Federal Deposit Insurance Corporation (FDIC) and Securities Investor Protection Corporation (SPIC) are in place to protect the customer from fraud or theft.

The ruling from the CCA means that these regulatory systems will not insure customer funds, investments, depositors and retirees who hold accounts in banks.

In fact, the banking institution is now legally allowed to use those customer funds deposited as collateral, payment on debts for loans made, or free use on the stock market to purchase investments as the bank sees fit.

Fred Grede, SMG trustee, explained that brokers are no longer required to keep customer money separate from their own. “It does not bode well for the protection of customer funds.”

Since the ruling gives banks the right to co-mingle customer funds with their own, no crime can be committed for the use of customer deposited monies.

According to Walker Todd , former lawyer for the Federal Reserve Bank of New York and Cleveland:

“Basically, there is a new 7th Circuit opinion saying that there is no reason to impose a constructive trust on a lender’s takings of customers’ funds from client commodity firms that were used (inappropriately) to secure the firms’ borrowings, as long as the lender can say that it did not know WITH CERTAINTY that customers’ funds were being repledged. Negligence and misappropriation (vs. knowing criminal intent) are now a sufficient excuse for letting the lender keep the money and go to the head of the line for distributions in bankruptcies of the client commodity firms.”

When a customer deposits money into a bank, the bank essentially issues a promise to have those funds available when the customer returns to withdraw the deposited amount.

When the same customer withdraws funds from their account (whether checking or savings) the customer assumes that the bank has enough funds to cover their withdrawal; including the presumption that their monies are separate from the bank’s assets.

Now, those funds are up for grabs by the bank at their discretion without explanation to the customer – nor is the bank obligated to recoup the customer should they “lose” those funds due to bad loans, bankruptcy or stock market loss.

In Texas, Pamela Cobb, manager of Bank of America (BoA), stole an estimated $2 million from customer funds for personal use. Cobb had been taking customer segregated funds since 2002.

Customers have complained of fraudulent charges placed on their accounts that BoA cannot explain. When the customer brings these charges to the in-house fraud department, they are given the run-around until they acquiesce.

Other customers have had their private possessions stolen right out of their safety deposit box held at BoA. The safety deposit box was drilled into and the contents shipped to the BoA corporate holding center in South Carolina.

In 1992 to 2003, Citibank called their theft of customer funds “account sweeping” wherein they stole more than $14 million from customers nationally.

Using computerized credit card processes to remove positive and negative balances from customers, the scheme included double payments or funds paid out on returned purchases that were then attributed back to the customer.

At Chase bank, an anonymous employee opened an account under a customer name (targeting an Alzheimer’s sufferer), complete with a personal debit card.

An estimated $300 per day was withdrawn on the fraudulent account. When family representing the victim alerted Chase, they brushed them off with an internal investigation claim – even as the family sought legal action.

Banking fraud against the elderly has risen of late, since banks realize they can steal massive amounts of cash from their aging customers with little to no repercussions.

The recent ruling on SMG has given the banking industry the legal backing they have been lacking when stealing from their customers.

Our financial institutions have been planning for a financial collapse wherein the US government will not offer assistance.

The resolution plans required by the Federal Reserve Bank, described schemes to have the major domestic banks remain afloat by selling off assets, finding alternative sources of funding, reducing risky measures that make a quick buck. These strategies were to be perfected with “no assumption of extraordinary support from the public sector.”

The mega-banks, through Wall Street, are also acquiring firearms, ammunition and control over private mercenary corporations like DynCorp and ‘Blackwater” as authorized by the Department of Defense (DoD) directive 3025.18 .

DynCorp is a military-based private mercenary contractor that provides (among other services) intelligence training and support, international security, contingency plans and operations. Ninety-six percent of their funding is based on annual revenues from the US federal government.

The international branch of DynCorp has operated as a “police force” even assisting local law enforcement during Hurricane Katrina.

Named as investors for the amassing of gun and ammunition manufacturers are Citibank, BoA, Barclays and Deutsche Bank who are pouring money into Cerebus and Veritas Equity who have taken over private corporations involved in the controlling riot situations.

The Federal Reserve Bank, one of the heads of banking cartels, has their own police force which operates as a protective security for the Fed against the American public.

As part of the Federal Reserve Act signed in 1913, the designation of a Federal Law Enforcement – special police officers that are exclusively regulated by authority of the Fed (whether in uniform or plain clothes.

These specialized police officers (who train with Special Response Teams) can work in tandem with local law enforcement or US federal agencies. These officers are heavily armed with semi-automatic pistols, sub machine guns and assault rifles as well as body armor.

Of recent, when withdrawing cash from an ATM, the daily allotted amount has decreased with some banks, thereby forcing the customer to go into the branch and extract the difference with a teller.

At this point, according to anonymous informants, the customer is taken into a backroom to be questioned as to why they want the cash, what they are purchasing with the cash, why they are not choosing to use a debit card or another form of digital trade to make the purchase. These questions are not only intrusive, they are illegal.

Some anonymous sources have said that banking representatives who conduct the integrations are directed to keep a record of customer responses on an online application that will be sent to the FBI in conjunction with Patriot Act mandates on tracking banking activity.

Customer funds are no longer secure, no longer backed by the FDIC or other insurance corporations, and banks are legally allowed to co-mingled customer money with other funds of the bank. The only safe place for your money is with you.

Now is the time to close your bank account.

Susanne Posel is the Chief Editor of Occupy Corporatism Our alternative news site is dedicated to reporting the news as it actually happens; not as it is spun by the corporate-funded mainstream media. You can find us on our Facebook page.

Related:

• Banks Can Legally Steal Customer Funds From Private Checking Accounts
• Gauss Virus Targets Banking System May Cause US Financial Collapse
• Architects of Control: Mass Control & Future of Mankind (VIDEO)
• Letters From the Underground Mail Bag: Subterranean Labyrinths, Underground Bases, and Hollowed O ... AlienDigest.com

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GLOBAL ELITES THROWN OUT OF ICELAND: Iceland Dismantles Corrupt Gov’t Then Arrests All Rothschild Bankers

Freedumbnation:

Since the 1900′s the vast majority of the American population has dreamed about saying “NO” to the Unconstitutional, corrupt, Rothschild/Rockefeller banking criminals, but no one has dared to do so. Why? If just half of our Nation, and the “1%”, who pay the majority of the taxes, just said NO MORE! Our Gov’t would literally change over night. Why is it so hard, for some people to understand, that by simply NOT giving your money, to large Corporations, who then send jobs, Intellectual Property, etc. offshore and promote anti-Constitutional rights… You will accomplish more, than if you used violence. In other words… RESEARCH WHERE YOU ARE SENDING EVERY SINGLE PENNY!!! Is that so hard? The truth of the matter is… No one, except the Icelanders, have to been the only culture on the planet to carry out this successfully. Not only have they been successful, at overthrowing the corrupt Gov’t, they’ve drafted a Constitution, that will stop this from happening ever again. That’s not the best part… The best part, is that they have arrested ALL Rothschild/Rockefeller banking puppets, responsible for the Country’s economic Chaos and meltdown.

Last week 9 people were arrested in London and Reykjavik for their possible responsibility for Iceland’s financial collapse in 2008, a deep crisis which developed into an unprecedented public reaction that is changing the country’s direction.

It has been a revolution without weapons in Iceland, the country that hosts the world’s oldest democracy (since 930), and whose citizens have managed to effect change by going on demonstrations and banging pots and pans. Why have the rest of the Western countries not even heard about it?

Pressure from Icelandic citizens’ has managed not only to bring down a government, but also begin the drafting of a new constitution (in process) and is seeking to put in jail those bankers responsible for the financial crisis in the country. As the saying goes, if you ask for things politely it is much easier to get them.

This quiet revolutionary process has its origins in 2008 when the Icelandic government decided to nationalize the three largest banks, Landsbanki, Kaupthing and Glitnir, whose clients were mainly British, and North and South American.

After the State took over, the official currency (krona) plummeted and the stock market suspended its activity after a 76% collapse. Iceland was becoming bankrupt and to save the situation, the International Monetary Fund (IMF) injected U.S. $ 2,100 million and the Nordic countries helped with another 2,500 million.

Great little victories of ordinary people While banks and local and foreign authorities were desperately seeking economic solutions, the Icelandic people took to the streets and their persistent daily demonstrations outside parliament in Reykjavik prompted the resignation of the conservative Prime Minister Geir H. Haarde and his entire government. Citizens demanded, in addition, to convene early elections, and they succeeded. In April a coalition government was elected, formed by the Social Democratic Alliance and the Left Green Movement, headed by a new Prime Minister, Jóhanna Sigurðardóttir.

Throughout 2009 the Icelandic economy continued to be in a precarious situation (at the end of the year the GDP had dropped by 7%) but, despite this, the Parliament proposed to repay the debt to Britain and the Netherlands with a payment of 3,500 million Euros, a sum to be paid every month by Icelandic families for 15 years at 5.5% interest.

The move sparked anger again in the Icelanders, who returned to the streets demanding that, at least, that decision was put to a referendum. Another big small victory for the street protests: in March 2010 that vote was held and an overwhelming 93% of the population refused to repay the debt, at least with those conditions.

This forced the creditors to rethink the deal and improve it, offering 3% interest and payment over 37 years. Not even that was enough. The current president, on seeing that Parliament approved the agreement by a narrow margin, decided last month not to approve it and to call on the Icelandic people to vote in a referendum so that they would have the last word.

The bankers are fleeing in fear returning to the tense situation in 2010, while the Icelanders were refusing to pay a debt incurred by financial sharks without consultation, the coalition government had launched an investigation to determine legal responsibilities for the fatal economic crisis and had already arrested several bankers and top executives closely linked to high risk operations.

Interpol, meanwhile, had issued an international arrest warrant against Sigurdur Einarsson, former president of one of the banks. This situation led scared bankers and executives to leave the country en masse.

In this context of crisis, an assembly was elected to draft a new constitution that would reflect the lessons learned and replace the current one, inspired by the Danish constitution.

To do this, instead of calling experts and politicians, Iceland decided to appeal directly to the people, after all they have sovereign power over the law. More than 500 Icelanders presented themselves as candidates to participate in this exercise in direct democracy and write a new constitution. 25 of them, without party affiliations, including lawyers, students, journalists, farmers and trade union representatives were elected.

Among other developments, this constitution will call for the protection, like no other, of freedom of information and expression in the so-called Icelandic Modern Media Initiative, in a bill that aims to make the country a safe haven for investigative journalism and freedom of information, where sources, journalists and Internet providers that host news reporting are protected.

The people, for once, will decide the future of the country while bankers and politicians witness the transformation of a nation from the sidelines.

The Bilderberg Group’s Connection To Everything In The World – Updated

Technorati Tags: Rothchilds,Rockefeller,Bilderbergers,Bilderberger Group,gloabal elites,stand together,stand-up America,wake-up America,Iceland,ruling elites,banksters,International Bankers,Interpol

Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
America's Next TARP Model
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Video:  America’s Next TARP Model – with Jon Stewart on the Daily Show

What you are about to read should absolutely astound you. During the last financial crisis, the Federal Reserve secretly conducted the biggest bailout in the history of the world, and the Fed fought in court for several years to keep it a secret.

Do you remember the TARP bailout? The American people were absolutely outraged that the federal government spent 700 billion dollars bailing out the "too big to fail" banks. Well, that bailout was pocket change compared to what the Federal Reserve did. As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars in nearly interest-free money to the "too big to fail" banks between 2007 and 2010. So have you heard about this on the nightly news? Probably not. Lately Bloomberg has been reporting on some of this, but even they are not giving people the whole picture. The American people need to be told about this 16 trillion dollar bailout, because it is a perfect example of why the Federal Reserve needs to be shut down. The Federal Reserve has been actively picking "winners" and "losers" in the financial system, and it turns out that the "friends" of the Fed always get bailed out and always end up among the "winners". This is not how a free market system is supposed to work.

According to the limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the grand total of all the secret bailouts conducted by the Federal Reserve during the last financial crisis comes to a whopping $16.1 trillion.

That is an astonishing amount of money.

Keep in mind that the GDP of the United States for the entire year of 2010 was only 14.58 trillion dollars.

The total U.S. national debt is only a bit above 15 trillion dollars right now.

So 16 trillion dollars is an almost inconceivable amount of money.

But some other dollar figures have been thrown around lately regarding these secret Federal Reserve bailouts. Let's take a look at them and see what they mean.

$1.2 Trillion

A recent Bloomberg article made the following statement....

The $1.2 trillion peak on Dec. 5, 2008 -- the combined outstanding balance under the seven programs tallied by Bloomberg -- was almost three times the size of the U.S. federal budget deficit that year and more than the total earnings of all federally insured banks in the U.S. for the decade through 2010, according to data compiled by Bloomberg.

The $1.2 trillion figure represents the peak outstanding balance on these loans, not the total amount of all the loans. On December 5, 2008 the "too big to fail" banks owed this much money to the Federal Reserve. Many of them could not pay these short-term loans back right away and had to keep rolling them over time after time. Each time a short-term loan got rolled over that represented a new loan.

$7.7 Trillion

Bloomberg is reporting that the Federal Reserve had made a total of $7.77 trillion in financial commitments to the big banks by the end of March 2009....

Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.

But as mentioned above, a one-time limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act covered an even broader time period and revealed even more bailout loans.

According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

This report was made available to all the members of Congress, but most of them have been totally silent about it. One of the only members of Congress that has said something has been U.S. Senator Bernie Sanders.

The following is an excerpt from a statement about this audit that was taken from the official website of Senator Sanders....

"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world"

So where is everyone else?

Why aren't leading Republicans and leading Democrats crying bloody murder over this report?

This scandal should have been front page news for months when it was revealed.

But it wasn't.

And Guess what?

Not only did the Federal Reserve give 16.1 trillion dollars in nearly interest-free loans to the "too big to fail" banks, the Fed also paid them over 600 million dollars to help run the emergency lending program. According to the GAO, the Federal Reserve shelled out an astounding $659.4 million in "fees" to the very financial institutions which caused the financial crisis in the first place.

In addition, it turns out that trillions of dollars of this bailout money actually went overseas. According to the GAO audit, approximately $3.08 trillion went to foreign banks in Europe and in Asia.

So why were our dollars being used to bail out foreign banks while tens of millions of American families were deeply suffering?

That is a very good question.

Also, it is important to remember that many of these bailout loans were made at below market interest rates, and this enabled many of these financial institutions to rake in huge profits.

According to a recent Bloomberg article, the big banks brought in an estimated $13 billion by taking advantage of the Fed’s below-market rates....

While the Fed’s last-resort lending programs generally charge above-market interest rates to deter routine borrowing, that practice sometimes flipped during the crisis. On Oct. 20, 2008, for example, the central bank agreed to make $113.3 billion of 28-day loans through its Term Auction Facility at a rate of 1.1 percent, according to a press release at the time.

The rate was less than a third of the 3.8 percent that banks were charging each other to make one-month loans on that day. Bank of America and Wachovia Corp. each got $15 billion of the 1.1 percent TAF loans, followed by Royal Bank of Scotland’s RBS Citizens NA unit with $10 billion, Fed data show.

So once the financial crisis was over, were adjustments made to the financial system to make sure that this type of thing would never happen again?

Of course not.

Today, the "too big to fail" banks are larger than ever. The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

So now they are more "too big to fail" than ever.

But this is what happens when we allow unelected central bank bureaucrats to run our financial system.

Most Americans do not realize this, but the truth is that the Federal Reserve is not part of the government. In fact, it is about as "federal" as Federal Express is. The Federal Reserve has admitted that they are a privately owned institution in court many times, and you can see video of a Federal Reserve employee admitting that the Federal Reserve is privately owned right here.

The Federal Reserve is an out of control monster that is throwing around trillions of dollars whenever it wants to. Nobody should be allowed to do this. Nobody should be allowed to give bailouts to banks and corporations without the express permission of the U.S. Congress and the president of the United States.

This is a point that I made in my article yesterday. The Federal Reserve decided this week that it is going to provide "liquidity support" to Europe. If the American people do not like this move, that is just too bad. We do not get a say in the matter.

Are you starting to understand why I keep pushing the idea that it is time to shut down the Federal Reserve?

Please share this information about the secret 16 trillion dollar Federal Reserve bailout with your family and your friends.

If we can get enough people to wake up, perhaps there is still time to change the direction that this country is headed.

From the Economic Collapse Blog

Video: The Fed Grants $7.77 Trillion in Secret Bank Loan - Now Do You Understand Occupy Wall Street?

Kucinich bill seeks to end the Federal Reserve:

Kucinich bill seeks to end the Federal Reserve!
http://www.godlikeproductions.com/forum1/message1718844/pg1
Kucinich bill seeks to end the Federal Reserve
http://www.rawstory.com/rs/2011/12/01/kucinich-bill-seeks-to-end-the-federal-reserve/

Related:

WHAT THE HELL? The U.S. Secretly loaned 7.7 TRILLION To Banks Without Interest. Then Borrowed Back WITH Interest
http://www.godlikeproductions.com/forum1/message1718942/pg1

America's Next TARP Model
http://www.thedailyshow.com/watch/thu-december-1-2011/america-s-next-tarp-model

A Bloomberg report reveals that the U.S. government loaned banks $7.7 trillion in secret bailout funds at no interest and then borrowed the money back at interest.
Bloomberg reports 7.7 trillion in loans to big banks and Wall Street
http://reading-sage.blogspot.com/2011/11/bloomberg-reports-77-trillion-in-loans.html?m=1pg1

h/t to Jean Stoner

Greg Palast: Vulture’s Picnic

The older you get the more you realize how often things are connected and how sometimes things that you thought were at opposite ends of the spectrum actually come full circle and intersect. Such is the case here… see side story at the bottom.

Video: Greg Palast "I Do Investigative Reporting! I Don't Think It's Legal Under Patriot Act 4 In The U.S."

Lazy Ouzo-Swilling, Olive-Pit Spitting Greeks
Or, How Goldman Sacked Greece

Here's what we're told:

Greece's economy blew apart because a bunch of olive-spitting, ouzo-guzzling, lazy-ass Greeks refuse to put in a full day's work, retire while they're still teenagers, pocket pensions fit for a pasha; and they've gone on a social-services spending spree using borrowed money. Now that the bill has come due and the Greeks have to pay with higher taxes and cuts in their big fat welfare state, they run riot, screaming in the streets, busting windows and burning banks.

I don't buy it.  I don't buy it because of the document in my hand marked, "RESTRICTED DISTRIBUTION."

I'll cut to the indictment:  Greece is a crime scene.  The people are victims of a fraud, a scam, a hustle and a flim-flam.   And––cover the children's ears when I say this––a bank named Goldman Sachs is holding the smoking gun.

********

This is an adaptation of an excerpt from Vultures' Picnic, Greg Palast's new book, out next week, an investigator's pursuit of petroleum pigs, power pirates and high-finance fraudsters. Read the first chapter or just get the book here.

********

In 2002, Goldman Sachs secretly bought up €2.3 billion in Greek government debt, converted it all into yen and dollars, then immediately sold it back to Greece.

Goldman took a huge loss on the trade.

Is Goldman that stupid?

Goldman is stupid—like a fox. The deal was a con, with Goldman making up a phony-baloney exchange rate for the transaction.   Why?

Goldman had cut a secret deal with the Greek government in power then.  Their game:  to conceal a massive budget deficit.  Goldman's fake loss was the Greek government's fake gain.

Goldman would get repayment of its “loss” from the government at loan-shark rates.

The point is, through this crazy and costly legerdemain, Greece's right-wing free-market government was able to pretend its deficits never exceeded 3 percent of GDP.

Cool. Fraudulent but cool.

But flim-flam isn’t cheap these days: On top of murderous interest payments, Goldman charged the Greeks over a quarter billion dollars in fees.

When the new Socialist government of George Papandreou came into office, they opened up the books and Goldman's bats flew out.  Investors' went berserk, demanding monster interest rates to lend more money to roll over this debt.

Greece's panicked bondholders rushed to buy insurance against the nation going bankrupt.  The price of the bond-bust insurance, called a credit default swap (or CDS), also shot through the roof.  Who made a big pile selling the CDS insurance?  Goldman.

And those rotting bags of CDS's sold by Goldman and others? Didn't they know they were handing their customers gold-painted turds?

That's Goldman's specialty.  In 2007, at the same time banks were selling suspect CDS's and CDOs (packaged sub-prime mortgage securities), Goldman held a “net short” position against these securities. That is, Goldman was betting their financial "products" would end up in the toilet. Goldman picked up another half a billion dollars on their "net short" scam.

But, instead of cuffing Goldman's CEO Lloyd Blankfein and parading him in a cage through the streets of Athens, we have the victims of the frauds, the Greek people, blamed.  Blamed and soaked for the cost of it.  The "spread" on Greek bonds (the term used for the risk premium paid on Greece's corrupted debt) has now risen to — get ready for this––$14,000 per family per year.

Euro-nation, the secret Geithner memo, and the Ecuador connection

Why did the Greek government throw its nation's fate into Goldman's greasy hands?  What the heck was in the "RESTRICTED" document? And why did I have to take it to Geneva, to throw it down in front of the Director-General of the WTO for authentication, a creepy French banker I otherwise wouldn't bother to spit on, and then tear off to Quito to share it with the grateful President of Ecuador?

To give you all the answers would require me to write a book.  I have:  Vultures' Picnic––in Pursuit of Petroleum Pigs, Power Pirates and High-Finance Fraudsters.

It's really quite important to me that you read it, that you get it now.  That's a funny statement, I suppose, from an author.  But if you've been reading my stories in The Guardian or watching my reports on BBC Newsnight, you've gotten the facts; but I really want to let you inside the investigations, to cross the continents with me and follow down the leads so that you can get a full picture of The Beasts.  The Beasts and their trophy wives, intelligence agency go-fers, political concubines and bone-breakers.  And besides, it's enormous fun when it's not scary as sh*t.

********

Here's a taste of Chapter 12 - The Generalissimo of Globalization - from the film-enhanced eBook edition.  [And more on the 1% Greece-ing us, check out the upcoming issue of In These Times.]

VIDEO:  Vultures' Picnic - Chapter 12 - The Generalissimo of Globalization

Note:  I will be in Chicago for In These Times on November 29, part of our 15 city tour that begins this coming Sunday, November 13, in Portland, then moves to San Francisco, LA, San Diego, Denver, Boulder, New Mexico, Albuquerque, Chicago, Madison, New York, DC, Houston, Burlington, and Atlanta. Find out more info here.

***

Greg Palast is the author of Vultures' Picnic: In Pursuit of Petroleum Pigs, Power Pirates and High-Finance Carnivores, which will be released on November 14 by Penguin USA.

Greg Palast just wrote Vultures' Picnic

Video:  Vulture's Picnic, 1% Vultures Praying on 99% Greg Palast Interview

Related: 

Video: UKIP Nigel Farage – How dare you tell the Italian and Greek People Wath to do!!!  - Nov 2011

Out of the blue I received information from a friend on Greg Palast’s new book:  Vultures' Picnic 

In 1970 two politically active kids were Presidents of their high school classes in Southern California.  Both went through the next 40+ years of their lives involved in writing, photography and political activism… one a progressive and the other a tea party type.  One is Greg Palast and the other is the writer of this was well as several other blogs, Marion Algier.

Amazing how two people, coming from the same high school with opposite points of view can come full circle and actually find some common ground…  agreeing on fraud, corporate greed, inept and corrupt government, banksters and the list surely goes on, while still disagreeing on so much. And fun to look back!

Poly Class Presidents 1970  - Left:  Greg  and Middle: Marion

By Marion Algier

Ask Marion~  -  h/t to Jean Stoner

4 Old Cartoons Explain The World

By voxOnox, on August 4th, 2011

1. The Bankers/Wall Street own the False Left Right Paradigm:

2. The Tyranny of and by the False Left Right Paradigm funnels substantially ALL tax revenue to the Bankers/Wall Street:

3. The Tyranny of and by the False Left Right Paradigm incurs incredible amounts of deficits to enslave future generations to pay interest to the Bankers/Wall Street; under the guise of funding basic (unnecessary) bureaucratic services:

4. The sum total is you are a debt/tax slave to the Rothschilds:

Rothschild behind China's purchase of foreign firms

Who Made Nearly a $1 Billion Bet on U.S. Debt Downgrade?

Drunken Ben Bernanke Tells Everyone At Neighborhood Bar How Screwed U.S. Economy Really Is

Bit of a language alert…

The intoxicated Federal Reserve chairman informs bar patrons of the dangers of reckless spending.

SEWARD, NE — Claiming he wasn't afraid to let everyone in attendance know about "the real mess we're in," Federal Reserve chairman Ben Bernanke reportedly got drunk Tuesday and told everyone at Elwood's Corner Tavern about how absolutely ‘fucked’ the U.S. economy actually is.

Bernanke, who sources confirmed was "totally sloshed," arrived at the drinking establishment at approximately 5:30 p.m., ensconced himself upon a bar stool, and consumed several bottles of Miller High Life and a half-dozen shots of whiskey while loudly proclaiming to any patron who would listen that the economic outlook was "pretty goddamned awful if you want the God's honest truth."

"Look, they don't want anyone except for the Washington, D.C. bigwigs to know how bad shit really is," said Bernanke, slurring his words as he spoke. "Mounting debt exacerbated—and not relieved—by unchecked consumption, spiraling interest rates, and the grim realities of an inevitable worldwide energy crisis are projected to leave our entire economy in the shitter for, like, a generation, man, I'm telling you."

A drunken Bernanke attempts to find the Aerosmith song "Back In The Saddle" on the bar jukebox.

"And hell, as long as we're being honest, I might as well tell you that a truer estimate of the U.S. unemployment rate is actually up around 16 percent, with a 0.7 percent annual rate of economic growth if we're lucky—if we're lucky," continued Bernanke, nearly knocking a full beer over while gesturing with his hands. "Of course, if everybody knew that, it would likely cripple financial markets across the entire fucking globe, even in various emerging economies with self- sustaining growth."

After launching into an extended 45-minute diatribe about shortsighted moves by "those bastards in Congress" that could potentially exacerbate the nation's already deeply troublesome budget imbalance, the Federal Reserve chairman reportedly bought a round of tequila shots for two customers he had just met who were seated on either side of him, announcing, "I love these guys."

Numerous bar patrons slowly nodded in agreement as Bernanke went on to suggest the United States could pass three or four more stimulus packages and "it wouldn't even matter."

"You think that's going to create long-term economic growth, let alone promote job creation?" Bernanke said. "We're way beyond that, my friend. There are no jobs, okay? There's nothing. I think that calls for another drink, don't you?"

While using beer bottles and pretzel sticks in an attempt to explain to the bartender the importance of infusing $650 billion into the bond market, the inebriated Fed chairman nearly fell off his stool and had to be held up by the patron sitting next to him.

Another bar-goer confirmed Bernanke stood about 2 inches from her face and sprayed her with saliva, claiming inflation was going to "totally screw" consumer confidence and then asking if he could bum a smoke.

"Sure, we could hold down long-term interest rates and pursue a program of quantitative easing, but c'mon, we all know that's not going to make the slightest bit of difference when it comes to output, demand, or employment," Bernanke said before being told to "try to keep [his] voice down" by the bartender. "And trust me, with the value of the U.S. dollar in the toilet, import costs going through the roof, and numerous world governments unprepared for their own substantial debt burdens, shit's not looking too good for us abroad, either."

"God, I'm so wasted," added Bernanke, resting his head on the bar.

Later in the evening, Richard Kampman, a truck driver who was laid off in 2010, said Bernanke approached him in the men's restroom and attempted to strike up a conversation about various factors contributing to the current financial crisis.

"He stumbled up to the urinal and started mumbling on about the depressed housing sector or something," said Kampman, who claimed Bernanke had to use both hands on the wall to steady himself. "Then after a while he just sort of stopped and I couldn't tell if he was laughing or crying."

"Then he puked all over the sink and the mirror," Kampman added.

Customers at the bar told reporters the "shitfaced" and disruptive Bernanke refused to pay for his drinks with U.S. currency, claiming it was "worthless." Witnesses also confirmed that near the end of the evening, Bernanke put money into the jukebox and selected Dire Straits' "Money For Nothing" to play five times in a row.

"This is what it's all about," said Bernanke, who reportedly danced alone in the middle of the dark tavern. "Fucking love this song."

Source:  The Onion  -  AUGUST 3, 2011 | ISSUE 47•31

Related:

Dow Falls Through the Floor at the Opening Bell

Lieberman Says We Need to Cut Social Security to Pay for Defense 

(Send This Letter to Your Congressman and Senator)

Government Losses to Top $1 Billion After Congress Fails to Reach Deal on FAA

Taxpayers Will Pay for Obama Bus Tour of Battleground States, Says White House

Simpletons Shocked to See Debt Deal Had No Impact on Anything

Scenes from Obamaville's Malaise

Videos:

"Work Being Suspended Involving Tens Of Thousands Of Construction Workers..." Pres Obama -  August 03, 2011 News Corp

We're Losing 200 Million Dollars A WEEK! With The FFA Shutdown - August 03, 2011 CNBC

Massive Hacking Attack Hits U.S. & U.N. Speculation That China Is Involved - August 03, 2011 CNN

"There's No Reason To Blame Us! THEY'RE CRAZY!" Senator Hatch - August 03, 2011 CNN

Are Sarah Palin & Donald Trump The Answer To The Country's Problems? - August 03, 2011 CNN

Super Congress: Echoes of Tyranny Rising

And now for something completely the same… In the “those who won’t learn from history, are doomed to repeat it” department, I give you a quote from the National Center for Constitutional Studies:

America’s Founders had just declared themselves free of a tyrannical government. They were determined that such tyranny would never be repeated in this land. Their new charter of government – the Constitution – carefully defined the powers delegated to government. The Founders were determined to bind down the administrators of the federal government with Constitutional chains so that abuse of power in any of its branches would be prevented. The revolutionary idea of separation of powers, although unpopular at first, became a means by which this was to be accomplished.

John Adams, in a letter to Dr. Benjamin Rush, stated: “I call you to witness that I was the first member of Congress who ventured to come out in public, as I did in January 1776, in my ‘Thoughts on Government,’ …in favor of a government with three branches, and an independent judiciary…” By the time the Constitution was adopted, the idea was supported by all of the members of the Convention. James Madison, the father of the Constitution, devoted five Federalist Papers (47-51) to an explanation of how the Executive, Legislative, and judicial branches were to be wholly independent of each other, yet bound together through an intricate system of checks and balances. Madison believed that keeping the three branches separated was fundamental to the preservation of liberty. He wrote:

“The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many… may justly be pronounced the very definition of tyranny.”

George Washington, in his Farewell Address, reminded Americans of the need to preserve the Founders’ system. He spoke of the “love of power and proneness to abuse it which predominates in the human heart” and warned of the “necessity of reciprocal checks of political power, by dividing and distributing it into different depositories and constituting each the guardian … against invasions by the others.” Of such checks and balances through the separation of powers be concluded, “To preserve them must be as necessary as to institute them.”

And from Harry Truman:

There is nothing in the world except the history you do not know.

As well as, Alexis deTocqueville:

History is a gallery of pictures in which there are few originals and many copies.

Americans labor under a failed government and a failed economy. High unemployment, soaring debt, want, need, desperation. Deja Vu comes knocking as our politicians are locked in a battle over our debt ceiling – a battle choreographed and planned for our benefit to accomplish some nefarious end, no doubt. It is the dance of history replaying itself in the fight between freedom and tyranny.

America is bankrupt and Democrats don’t want to cut spending at all. They want to keep spending in a Cloward and Piven frenzy guaranteed to destroy America once and for all. They insist on more revenue, i.e. taxes. Taxes on a suffering American public who can shoulder the burden of taxation no longer; who cannot even feed and clothe their families adequately or scrounge together the needed funds for gas to get to and from work. Does any one else feel like we are being played by both sides? These budget deals are not surpassingly awesome.

The Republicans claim they want to Cut, Cap and Balance the budget. And while I’ll concede there are a number of brave souls who wish to do that, primarily the Tea Party candidates in the House of Representatives, the remainder for the most part in the Senate are far too weak kneed to accomplish the vital objective of a Constitutional Amendment to balance the budget. They now claim to have a two-step plan to come to a bi-partisan agreement with the Progressives on the Left and handle the debt ceiling. But notice, this plan is not on CSPAN. You won’t see it on Fox News. It’s not out in the open. Just vague innuendos from Boehner that we aren’t there yet and that there is a two-step plan based on Cut, Cap and Balance involving a ‘committee.’ It is being cobbled together behind closed doors and in the dark of night.

I would remind people of the Enabling Act of 1933 in Germany. It is eerily similar to what is happening now. In short, with the Enabling Act, the parliament granted the German government additional powers and de facto legalized Hitler’s dictatorship.

And let’s not forget the Communist Party of Soviet Russia and the Politburo.

We are in a similar position. The “Super Congress,” however, is taking the power out of the people’s hands (as delegated to their “representatives”) and placing it into the hands of a few before giving it to an authoritarian.

And there are more and more of the whispers speaking of a Super Congress. Starting Saturday evening, a story came forth from the New York Times that a Super Congress was being touted as a solution to the debt ceiling impasse. Hardly the most reliable source, nevertheless it is being repeated in the Huffington Post and has now been picked up by NewsMax. I pray this is wrong, because it is so unconstitutional as to bring fear into this American’s heart of another revolution and to reverberate the echoes of tyranny rising throughout America.

I ask our politicians, where is the transparency? Since when do Americans get locked out of seeing your ‘plans?’ Plans that will effect each and every one of us in life changing ways. Why don’t you show us what you are proposing? Sunlight is the best disinfectant – bring these talks and plans into the open for all to see.

A Super Congress is not the answer. It is a Progressive/Marxist solution to a problem of their own making and will allow an elite cabal to rule over America with a dictator at the helm. Is this what we have come to? From the Huffington Post:

This “Super Congress,” composed of members of both chambers and both parties, isn’t mentioned anywhere in the Constitution, but would be granted extraordinary new powers. Under a plan put forth by Senate Minority Leader Mitch McConnell (R-Ky.) and his counterpart Majority Leader Harry Reid (D-Nev.), legislation to lift the debt ceiling would be accompanied by the creation of a 12-member panel made up of 12 lawmakers — six from each chamber and six from each party.

Legislation approved by the Super Congress — which some on Capitol Hill are calling the “super committee” — would then be fast-tracked through both chambers, where it couldn’t be amended by simple, regular lawmakers, who’d have the ability only to cast an up or down vote. With the weight of both leaderships behind it, a product originated by the Super Congress would have a strong chance of moving through the little Congress and quickly becoming law. A Super Congress would be less accountable than the system that exists today, and would find it easier to strip the public of popular benefits. Negotiators are currently considering cutting the mortgage deduction and tax credits for retirement savings, for instance, extremely popular policies that would be difficult to slice up using the traditional legislative process.

The article goes on to claim that John Boehner is making the Super Congress a defining point in his new proposal to raise the debt ceiling. If true, shame on him and shame on McConnell. We’ve come to expect fascist maneuvering from the Progressives on the Left, but now it would seem the Progressives on the Right are rearing their unconstitutional heads.

The Tea Party and American patriots want and demand that our leaders cut spending and not raise taxes. Do not raise the debt ceiling any more. We don’t want a Super Congress and we don’t want to be a party to your gleeful destruction of the Constitution. Stop floating these Marxist ideas or Americans will surely see you are removed from office for good. Americans will not become subservient to an elite ruling class. We will fight you, you can be sure of that.

There is a good reason that Boehner has not pressed this plan publicly. He would be ripped to shreds by Conservatives over it and he knows it. If this story is true, we are indeed in real trouble folks. Why is this story not everywhere you look? And how much power and money was promised to those that would betray the Tea Party and Americans in general? Inquiring minds really need to know.

Whether this piece of insanity comes to fruition is yet to be seen. I don’t think it will come to pass because it would mean a revolt of the people. However, I still believe there is a very strong chance that Obama will use his Executive Order power using the 14th Amendment as cover to raise the debt ceiling. Looks like this week will be one wild ride…

If this effort to create a Super Congress to distill power into the hands of the few, the elite, the select succeeds, we will indeed have tyranny rising.

By: Terresa Monroe-Hamilton

Source: NoisyRoom

Cross Posted at: Ask Marion

See:  The Original Argument  -  The Federalist Papers written in modern language.  Also check out: The Road to Serfdom

Related:

We Don’t Need No Steenking Constitution

Geithner Refuses to Tell Chris Wallace What Happens If Debt Ceiling Isn’t Raised  -  Despite persistent questioning from Chris Wallace, Treasury Secretary Timothy Geithner refused to acknowledge what his plans were just in case the debt ceiling is not raised before August 2nd. Insisting that his plan was only to get Congress to raise the debt ceiling, Geithner seemed to demonstrate just how fearful he is of what might happen by hesitating to even discuss the possibility of any contingency plan. Continuing to sound the alarm, Geithner warned Wallace, “we do not have the ability, Chris, to protect the American people from the consequences of Congress not” raising the debt ceiling. And he reiterated...

Video:  SR 19 - U.S. Debt Limit‏ 

Article - tells what opinions were given on the morning talk shows
Geithner: Obama And Boehner Still Negotiating Grand Bargain 

Video: Ex- New World Order Banker Tells It All

BILDERBERG WEEK WRAP UP: SWITZERLAND POLITICIANS DISRUPT BILDERBERG MEETING WITH ARREST KISSINGER!!

Swiss politician Lukas Reimann went on Alex Jone’s show and said the Swiss People's Party opposes the IMF, the World Bank, and the Bilderberg Group. Reimann plans to march to the gates of Bilderberg with Baettig and other Canton leaders.  The Swiss People's Party is the largest party in the Federal Assembly, with 58 members of the National Council and 6 of the Council of States.

Read Update Swiss Politicians to March on Bilderberg Meeting, Demand Arrest of Kissinger and see this Video: Swiss Politician Lukas Reimann: Swiss People Oppose, IMF, World Bank and The Bilderberg Group!

You sure don’t hear this on MSM!!  Where are our politicians?   Why don’t they have the guts to do this?  Our politician just ignore these meeting.

Video:  Interview with Swiss Politician Dominique Baettig (High Quality)

HERE ARE THE BILDERGERGS STROLLING THROUGH THE GARDENS

ARTICLES AND VIDEOS.

http://www.infowars.com/bilderberg-members-confronted-by-protesters-outside-hotel/

BUT HERE THEY ARE CONFRONTED BY PROTESTERS.  BOTH ARTICLES AND VIDEOS

HERE ARE SEVERAL SECURITY REPORTS FROM THE BILDERGERG MEETING,  INCLUDING HIRING MALE PROSTITUTES ETC. 

HERE ARE MEMBERS LISTED BY COUNTRIES, PLUS SOME ADDITIONS LIKE BILL GATES. . AND ROBERT GATES… AND GOOGLE CEO ETC, ALSO ANGEL MERKEO, CHANCELLOR OF GERMANY AND FORMER PM OF SPAIN…WHO WEREN’T ON THE ORIGINAL LIST. .   ALL THESE UPLOADED TWO DAYS AGO

Related: (As U.S. focuses on WeinerGate… Bilderberg Conference Decides Future of World)

Awareness of Bilderberg Cabal Explodes in 2011

Bilderberg Behind Rick Perry 2012 Run

Bilderberg Texas Governor Orders DTF Vaccines for All Girls  - Bypassing Voters with EO for Law… Like Obama? (Rick Perry Supported Gore in 1988… Think about it!)

Bilderberg Security Assaults EU Members of Parliament

Biggest Bank in France Has Suddenly Cut ATM Card Access to Cash in Half and People are Freaking Out! -  Coincidence that it is the same week as Bilderberg conference in Switzerland?

More Bilderberg Week Including Agenda 21 Updates

Breaking:  Secret Bilderberg Agenda Leaked by Mole

Bilderberg Conference 2011 Update and More… InfoWars 

UPDATED TOPICS: 6-10-2011 Bilderberg Meeting:  Comet Elenin (or ELEnin Brown Dwarf Star), Solar Flares, Earthquakes, Tornadoes, Underground Cities.  Coincidentally???: (Video) NASA Emails ALL Employees Today to PREPARE! June 10, 2011

Video:  AFP Mark Anderson on Final Day at Bilderberg 2011  -  Attention and protests cause Bilderbergers to leave early…  Keep up the pressure.  Light on their meetings and agenda could spell their end.

Background Resources:

Council on Foreign Relations

Review:  The True Story of the Bilderberg Group

The True Story of the Bilderberg Group...

The Creature from Jekyll Island

Bilderberg People: Elite Power and Consensus in World Affairs

"People who know nothing, are closer to the truth than those whose minds are filled with falsehoods and errors"

h/t to Claudia Johnson

The Biggest Bank in France Has Suddenly Cut ATM Card Access to Cash in Half and People are Freaking Out!

http://www.jovanovic.com/blog.htm I just got off the phone with Pierre Jananovic . . . La Banque Postale has lowered the limits on the amounts of cash customers can withdraw per week by 50%. First of all, for you Americans and Brits, the way France works its banking system – customers are limited to how much they can withdraw per week from their accts no matter what the balance. Now what has happened here is that Gold card members – who could take out 3,000 euros a week – are now limited to 1,500 a week. This was sudden, without warning, and people here in France are freaking out. Pierre tells me that its the first clear sign that liquidity in the European banking system is drying up. http://maxkeiser.com/2011/06/07/the-biggest-bank-in-france-has-atm-card-access-to-cash-in-half/ If you remember we warned about this happening  here in the U.S. (sometimes it really stinks to be right!) (Reprint below) And is it a coincidence that this is happening just as the big Bilderberg conference in St. Moritz is closing?    Is An ATM Cash Shortage Coming? Submitted by Tyler Durden on 11/08/2010 11:35 -0500 Image: Betsy Fletcher While we have no way to confirm or refute the validity of this statement presented by a supposed ATM business insider on Steve Quayle.com, it does bring up an interesting point regarding how banks may be conserving "petty cash." Of course, if this perspective is true, it validates concerns about bank capitalization, and explains the reason why the FDIC recently expanded insurance on checking accounts from $250,000 to infinity in an attempt to get Americans to put their money in their friendly neighborhood bank. Of course, that this contradicts everything that the Fed Chairman is trying to do by getting Americans to spend (or buy Netflix at a 1,000 P/E) instead of putting the money in the bank, is precisely the reason why Sheila Bair's relationship with Geithner and Bernanke is, shall we say, tenuous. From Steve Quayle (who may or may not have properly attributed the original article on Urban Survival). "George, I work with a business partner in the [region redacted] . We have combined between us 180 ATM machines that we service, Cash Load. In order to do this we NEED to order the money, 20's only from several banks on a weekly basis. This is a considerable amount weekly, 380k plus. Here is the interesting piece that is developing: In the past several weeks 4 of the MAJOR banks have informed us that they can no longer provide us with the cash for our business. Now the problem is that it is OUR money we are taking out! So speaking with bank "personnel" on the side my question was this, what is going on? how come we cannot take OUR money out? Answer: "they" are not authorized to hold, carry or have on hand anymore more than a certain amount of cash on hand! The amount we are getting, even though it is out of our account, they cannot order or have on hand that amount of cash at any time now. I am not talking small banks...large banks [large money center bank in America name redacted] etc...! We can see our ability to keep these machines with available cash is becoming more and more difficult. This has taken place just in the past few weeks. By the way, these banks were willing to lose our full business due to this issue. Trying to work with smaller banks now...we will see how long!" h/t Kyle Ben Bernanke Federal Deposit Insurance Corporation ATMs Crash Across The Country After “Bank Holiday” Warning Paul Joseph Watson -  Infowars.com - November 8, 2010 Following rumors of a “bank holiday” that could limit or prevent altogether cash withdrawals later this week, Twitter and other Internet forums were raging yesterday about numerous ATMs across the country that crashed in the early hours of Sunday morning, preventing customers from performing basic transactions. It’s unknown whether the crashes were partly a result of a surge of people trying to withdraw their money in preparation for any feared bank shutdown, or if mere technical glitches were to blame. The fact that the problem affected numerous different banks in different parts of the U.S. would seem to indicate the former. The Orange County Register reported that the problems were “part of a national outage” which prevented people from performing simple transactions such as cashing checks and withdrawing money. “Computer issues” were blamed for similar issues in Phoenix Arizona, while in Birmingham Alabama, Wells Fargo customers’ online banking accounts and ATMs displayed incorrect balances. The banks primarily affected were Wells Fargo, Chase and Bank of America, but according to blogger Phil Brennan, who studied Twitter feeds and other Internet message boards that were alight with the story, numerous other financial institutions were also affected, including US Bank, Compass, USAA, Suntrust, Fairwinds Credit Union, American Express, BB&T on the East Coast and PNC. “Twitter is going crazy with reports of ATMs and online accounts going down as of 01:00 hours EST of the 7th of November 2010,” writes Brennan. “This is happening to many banks all across America. Some are trying to say that it is a computer glitch to do with the change in Daylight Savings Time, but I will call BS on this as we manage to put our clocks back over here in the UK without knocking out ATMs and online accounts nationally.” Brennan questions whether the outages were the first warning shots in a move to “devalue the dollar,” just days after Federal Reserve chairman Ben Bernanke sparked an international currency war by announcing that the Fed will buy $600 billion of U.S. government bonds over the next eight months. Any perceived inability of banks to deal with a sudden demand for cash would undoubtedly place in peril the United States’ triple A credit rating and spark a fresh dollar crisis. “In the light of what is going on geopolitically, I am still very suspicious about the reasons for this mass downtime of ATMs and Online Accounts, adds Brennan. “There is still a very distinct possibility that November the 11th will turn into an extended Bank Holiday so I would advise all those who can get their money out of their banks to do so, even if you have to pay your upcoming bills manually.” As we reported last week, the “bank holiday” rumor has reared its ugly head once again, after a story emerged that a pastor was told by one of the managers of a prominent east coast bank that banks would close for an undetermined amount of time, and that when they reopened, “all withdrawals by checks would be limited to $500 per week – no matter what the balance in the account is.” Though the story is still an unconfirmed rumor, banks have been preparing for limiting withdrawals. As we reported back in February, Citigroup sent an advisory to its customers at the start of the year which stated that the bank reserved “the right to require (7) days advance notice before permitting a withdrawal from all checking accounts.” The advisory stoked fears that financial institutions were preparing for bank runs. Fresh food that lasts from eFoods Direct (Ad) While we still think this new bank holiday rumor will subside as the previous two did earlier this year and last, in the current economic climate it would be foolish not to keep at least a small amount of your savings in physical cash. The current financial turmoil has been likened with the post 1929 period, during which newly elected Franklin Roosevelt declared a “bank holiday” that lasted four days, therefore such a scenario is not without historical precedent. — Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a fill-in host for The Alex Jones Show. Watson has been interviewed by many publications and radio shows, including Vanity Fair and Coast to Coast AM, America’s most listened to late night talk show.