Economic History

Economic History is a long journey among the histories of humanity. We have a depression here
in America and the world. We live in one of the worse economic breakdowns in human
history. Some fear that fascism or another evil totalitarian system can take over the world
in a global government. Capitalism itself was never the same in history. It has changed
and continues to change now. Even China has embraced more market based policies in its
economic policies. The ancient goals of this new age existed from a long time ago, even in the
days of Atlantis. The story of Atlantis comes as a place where it was formed after the
Perfected World was created. Later, it was destroyed by a cataclysmic natural disaster. This
story of Atlantis was mentioned by Plato and others spanning the eons of time. Plato believed
that Atlantis had advanced technology and mystical belief systems. That is why cultures from the
4 corners of the Earth mention the same story of the mighty empire destroyed in the middle of the
sea. The ancient Aztecs, Chinese, Sumerians, Egyptians, Celtic tribes, Mayans, etc. tell the same
story of a Solar being falling down into the Earth to give humans advanced knowledge that they
didn’t witness before. These stories are exactly like the story of the Fall of Lucifer, who was once
the angel near God’s throne. After Atlantis (or the Pre-Flood world), human civilizations existed
in secret societies, the super rich oppressed the poor, bigotry still came about, wars existed, and
oppressions thrived. The elite created the Mystery Schools as a way for the elite to maintain their
power. The elite used the Mystery Schools for a specific purpose. The elite used them in order for
them to suppress real knowledge from the common man. The Mystery Schools existed in the
areas of ancient Tyre, Babylon, Sumeria, Persia, ancient Britannia, Europe, the Americas, China,
etc. These realities allowed humans to rise up in promoting justice throughout the ages since
crimes against the people ought to be fought again (plus exposed). Nothing is new under the sun
indeed. Once, I didn’t know that much about economics. Fundamentally, I once only knew about
basic information including basic information on interests & principles. Yet, years ago, one great
black African professor taught me and others economics. He taught us about formulas,
mathematics (since finance deals with a lot of math to understand GDP, nominal GDP,
exchange rates, etc.), supply & demand, equilibrium, graphs on economics, macroeconomics,
and microeconomics in a great way. I’ve gained a lot of insight from him on dividends, bonds, and
other subsequent topics that are related to the expansive topics of economics. I’ve already
respect his insight completely. He was a great teacher and this is one of the reasons why I’m
writing on this topic now.

I’ll let some call themselves an unhyphenated American and I use my free speech rights to
call myself a black American or an African living in America (or an African American that
reactionaries hate so much. They hate the term African American for some reason and I just
don’t get it). For it is more important to judge a human being on their character and
behavior not on their physical appearance or background.These let’s have amnesia &
colorblind types yell about division. The same elite have oppressed people and really divided
people for thousands of years in attempting to have feudalism (that would break up and destroy
nation-states and cultural identities). Now, when people like me want unity among my people&
learning about my people’s true history & identity, the elite accuse us of wanting division. I don’t
want evil division, but unity in my own cultural essence and my basic cultural identity. That isn’t
racism, but common sense and self-preservation. We’re all human beings and we all should be
treated with respect, but my heart isn’t into compromise. My heart is into justice, strength, honor,
and a sense of discernment to move forward in life. Love has no color, but a person hating his or
her own color that God gave them at birth is not a true, authentic person. There’s no way in the
Universe will I compromise my core convictions. With that being mentioned, the war on
terror like the Cold War is a contrived hoax causing the deaths of thousands of human
beings at least. Many of the players in the war on terror has been facilitated or outright
invented by political organizations or Western intelligence agencies. Even the accused
mastermind of the London 7/7 bombing back in 2005 had ties to British Intelligence. We
know the elite ties to the late Osama bin Laden.
In the 21
st
century, we see globalization causing a more global political economy (with
proposals of a global economic system and international political organizations here now).
To understand basic economic history, it's fine to learn about the economic theories and
political philosophies. We should do this even if you disagree with some of them in order to
see the present economic reality now. It's easy to witness that the cabal seized the
economic and political power in USA especially in the first decades of the twentieth century.
The establishment doesn't wish to see the public at large to understand the workings of
political and economic systems in order to keep human beings ignorant of the real scams
that the global elite does. Basic economics deals with exchanging goods and services (or
building, fishing, cooking, construction, etc.). The services can be used as a means of barter
and the goods can became a means of exchange like money. Money is used in the means to
exchange goods and services. The objects in the exchange of goods include cattle, beads,
gold, silver, paper currency, and entries in financial records for thousands of years. Good
and services are created by labor or the expenditure of physical or mental effort. Currency is
the means of exchange that represents the currency’s underlying economy and its ability to
produce transport and sell productive goods domestically and to other Nations.


Early Economic History

Mercantilist writers like Friedrich List and Alexander Hamilton wrote critiques of Liberal
economic concepts. List criticized a worldwide economy and instead wanted a national
economy to handle economic conditions (that Adam Smith didn't adhere to). List didn't
believe a universal union of confederation of nation to establish peace in international
free trade. List wanted the merging of the political and economic realms and then
allows the political realm to have more power than the economic realm. Of course,
liberal economics believe in the free market view. They believed that the political and
economic realms should be separate in order to allow businesses to be free (under the
free market) to enhance economic output and economic development. Adam Smith
believed in the invisible hand of the free market in his volume of his "The Wealth of
Nations" back in 1776. Adam Smith accepted some outmoded concepts. List wrote that
historically, a political had to precede an economic union. By the 19
th
century and
beyond, major banking dynasties wanted use their economic union to form a political
union to follow in its footsteps. The global hegemonic power of Great Britain supported
this liberal economic theory (which is the ideological ancestor of Austrian Economics).
The Bank of England was created back in 1694. It was a private central bank that would
issue currency to the nation and lend it to the government plus interest at interest
(which would be paid back to the Bank of England shareholders). These shareholders
make up the private banking dynasties. Does this sound familiar? Yes, it sounds very
similar to the Federal Reserve private banking system. From the 16
th
to 19
th
centuries,
the nation-state system and capitalism grew along with central banking. The economies
in many nations were secondary or submissive to the political structure of nations.
Liberal theorists oppose the economy to be submissive to the state like of course Adam
Smith. He lived when the American colonies fought against the British imperial forces in
North America.

Jeremy Bentham, John Locke, and Adam Smith were 3 agents of the British East India
Company policies of radical free markets and free trade policies. Locke has been accused of
being an agent of Shelburne or the leader of the British Empire’s East India Company. Locke
didn’t want America to develop independent industrial societal structures beyond just an
agrarian society. Locke attacked the protectionist views of Jean Baptiste Colbert or the
finance minister for France’s Louis XIV. Bentham was more extreme than Smith and Locke
put together. At least, Locke and Smith embraced some legitimate concepts though 2 men
weren’t perfect. Bentham criticized the defense of human rights in America’s July 4, 1776
Declaration of Independence. In1785, Bentham wrote an essay to defend pedophilia among
men and children. Bentham was a deprived sick individual. He wanted a jail slave labor
camp for children, the criminals, and other people to be place in it. In his or Bentham’s 1787
pamphlet entitled, “In Defense of Usury,” attacking all restrictions on the lenders' right
to take the highest interest rates they could get away with. The architecture of the
beginning of the modern British Secret Intelligence service began with Dr. John Dee &
later with the Shelburne-Bentham collaboration. The British Empire lost to America in
the War of 1812 (after the British burned the Capitol to the ground). There is nothing
wrong with a post office, transportation, fire departments, and other public modes of
infrastructure existing in the world regardless of what Austrian Economists proclaim.
Some of these people would liable any government intervention falsely as socialism.


The Revolutionary War
America created its independence after the Revolutionary War. This war had many
reasons like the high colonial tax (on tea and other imports from foreign nations like
France). This was done in an effort to promote the mercantilist assumptions that the
colony should only survive and trade with the metropole (imperial hegemon) – which
extracts the resources of the nation in trade for material goods to that nation, creating a
dependence upon the colonial power. The colonists didn't want a foreign imperial
power to control inflation and devaluation of a currency to rule colonial conditions. Even
the Founding Fathers of the United States knew that you have to control your own
currency if one is to have true sovereignty and independence. The English Parliament in
1751 and 1763 made it illegal for the American colonists to issue currency. If Americans
accepted this system, domestic trade would decrease and the colonists might have been
reduced to barter. This was one reason why the Revolutionary occurred in the first
place. America won and Britain lost that hit their mercantilist system bad. George
Washington and Benjamin Franklin sponsored millwright James Rumsey to work on the
steamboat. This was a new infrastructure product in the timeframe of early America.
Benjamin Franklin was another man who develop infrastructure like a library, a fire
company, a college, hospital, and he improved streets plus street lighting in the city of
Philadelphia. This proves that spending money on advanced technological advancement
is certainly a benefit to humankind in general. This has been going on for the eons of
time. In this time, the Bavarian Illuminati was invented in 1776 by Adam Weishaupt.
This was after the Jesuits were suppressed by the Pope Clement XIV in 1773. Pope
Clement XIV soon died in mysterious circumstances. Weishaupt wanted to root out all
religion and overturn government to form a global governmental Utopian system.
President James Madison mentioned that: "History records that the money changers
have used every form of abuse, intrigue, deceit, and violent means possible to maintain
their control over governments . . ."


The Haitian Revolution and the French Revolution
The French Revolution came and the European bankers infiltrated the French
Revolution. They or the monarchy didn't give short term credit to the government and
they have delayed food to Paris. This caused hunger riots by Parisians. The bankers soon
supported a general in the Revolutionary Army named Napoleon to restore order.
Napoleon supported the bankers and created the Bank of France in 1800 (which was
privately owned by the bankers. The bankers owned its share and even Napoleon
bought shares in the bank). Napoleon’s family had Genoese-Venetian roots. His
maternal grandmother was a Pietransanta or in the Genoese family. His descendant
Charles Joseph Bonaparte was the U.S. Attorney General during Theodore Roosevelt’s
Presidency and Charles was the founding father of the FBI. The BI was pre-FBI
historically. Napoleon Banoparte wanted his 1801 concordat to the Pope to allow the
French government to dictate much of the policies of the Papacy. Although, this
concordat was really about Napoleon's re-instatement of the Jesuits outside of the
Papal bull banning them years previously. Bonaparte had links to Freemasonry.
Napoleon's older brother, Joseph, had joined--on Oct. 8, 1793--Marseilles's lodge of
``Perfect Sincerity,'' Scottish Rite, under portraits of Jean-Paul Marat and Jean-Jacques
Rousseau, with the protection of Robespierre's brother, Bon-Bon. Louis, another of
Napoleon's brothers, had also joined a Scottish Rite lodge. Both of Napoleon's brothers
were members of the Scottish Rite. Napoleon transformed the L’EcolePolytechnique
graduates into military officers that were slaughtered in the battlefields of Europe.
Napoleon had his empire and when he tried to attack England. When he declared
himself more powerful than the bank of France, the elite turned against him. Napoleon
supported slavery and colonialism (which are 2 evil practices point blank period). He was
an Emperor you know. France once abolished slavery in the French colonies in 1793. The
black man General Toussaint-L'Ouverture helped formed the independent state of Haiti
to be free from French oppression. It was the first Black Republic in the Western
Hemisphere. Napoleon tried to have slavery in 1802 in Haiti, but by 1804, Haiti was a
pure independent nation.
The Rothschilds ascended to the throne of international banking with the Battle of
Waterloo. After the French Revolution, the Ashkenazi Rothschilds have established
banking houses in London, Paris, Frankfurt, Vienna and Naples. Some people believed
that Nathan Rothschild made insider trading during the Battle of Waterloo and some
don't. What is true is that the Rothschild family has links to both the Vatican and
Freemasonry. When you think about it, the Kabbalah, Freemasonry, the Vatican, and
other heretical orders have their origins form the Mystery Schools from their doctrines,
precepts, etc. Even Thomas Aquinas (he was a theological leaders from Romanism)
believed in the lie that it’s lawful and not a sin for a man to steal another person’s
property for a basic need. The Eight commandment of God is clear that: “…Thou shalt
not steal…” (Exodus 20:15).Many Rothschilds were Masons during the 19
th
century
especially. The British Empire followed the liberal economic concepts of Adam Smith
from 1815 to 1914. Free markets and the invisible hand were supported by the
elite. Yet in reality, the markets were really not free and its hands have visibility in
imperialism, colonialism, and bigotry. Although, some who were in favor of
mercantilism tried to justify colonization. Adam Smith did believe in some regulation to
handle equity issues between employers and labor. Yet, extremists took Smith's ideas
on its head to promote a radical liberal economic order.


This is ‘Ole Hickory

Andrew Jackson
In America, the European elites wanted to promote a privatized central bank in America.
To their credit, many Americans opposed this plan. Alexander Hamilton and even
George Washington wanted such a bank, but Washington’s and Hamilton’s plans dealt
with the creation of a national bank not a privatized, unelected central banking system.
Andrew Jackson opposed a central bank strongly. Jackson didn't want this system,
because he believed that such a system would centralize too much economic power into
few hands. Andrew Jackson vetoed the bill to have a Second Bank of the United States.
Andrew Jackson wasn't perfect, but he was right to oppose the international bankers'
agenda in the USA. President Andrew Jackson broke the Bank of the United States. Yet,
he halted national support to road, canal, and railway construction. He didn’t want
federal support to advance international improvements. In other words, his views were
similar ideologically to the Tea Party crowd. Jackson made the error of not making an
adequate replacement of the Central Bank. His weaker replacement and other factors
influenced the recession of 1837. The deal was that Jackson issued the Specie Circular.
This required buyers of government lands to pay in specie or gold or silver coins. This
caused a huge demand for specie. Many banks didn’t have enough to exchange for their
notes. Then, these banks collapsed. This was a big cause of the Panic of 1837 that
caused a deep recession inside of America. It took years for the economy to recover
from the damage. The elite later used the Civil War to try to control America. Abraham
Lincoln before he died knew that if banking powers controlled our finances and
centralized wealth into a few hands, then the Republic would have a change of being
destroyed. There were depression from 1837, 1857, and the Great Depression of 1873.
This continued in 1893, 1907, 1919, and 1929. During these times, small businesses
suffered and the working people's fortunes came to the Astors, Vanderbilts,
Rockefellers, Morgans, etc. During the 1873 crisis, Carnegie was capturing the steel
market; Rockefeller was wiping out his competitors in oil. The recessions in these
periods caused the consolidation of power into the oligarchy.
I’ve look at the History International Channel on Andrew Jackson. This and other
motivating factors inspired me to write more about the man. Andrew Jackson lived a
controversial life and many people criticize him to this day. Andrew Jackson was
President from 1829 to 1837. Ironically, Thomas Jefferson as President allowed his
administration to subpoenaed Jackson to testify as an unindicted co-conspirator in the
treason trial of Aaron Burr. President Jackson witness the first and only time America
experienced no debt in U.S. history, which is fine. Yet, he broke down the nation’s
power over credit. He crushed tariffs protecting U.S. industries and wages and he
blocked national expansion of canals and railroads. He was a Tea Party man ideologically
before the Tea Party existed. The reason is that he wanted to crush the government in
an extremely small level. This is hard now since in the 21
st
century we live in a more
complex society. We don’t live in the 19
th
century anymore. After Jackson, the British
cotton owners and the plantation slaveholders promoted cheap labor and radical free
trade. Andrew Jackson was involved in the war of 1812 between the U.K. and America.
America was in defense or they used self defense when the British military burned down
large portions of Washington, D.C. The Western elites hated nationalism (or the building
of public education, the spreading of infrastructure, and the common peaceful relations
with fellow human beings). In those days of the 19
th
century, the oligarchy wanted
imperialism, racism, and stagnation. Bentham supported Andrew Jackson. Bentham
wrote in hatred of the July 4, 1776 Declaration of Independence, which deals with self
evident human rights. Georgia rowdies, up-and-coming Masons such as Howell Cobb,
demanded the Cherokees' land on the rumor that there was gold underneath it.
Georgia's governor ordered the arrest of U.S. government-financed Protestant
missionaries who were teaching the Cherokees mathematics, science, and literature.
Andrew Jackson supported the Cherokee to leave their lands and go into Oklahoma
(even when the Supreme Court confirmed the treaty rights of the Cherokee to have
their rights). Chief Justice Roger B. Taney was not only a bigot, but he was a covert anti-
Union agent. Taney worked constantly with pro-Confederate intriguers in Maryland,
although that state remained in the Union. He sought the arrest of U.S. military officers,
because they were obeying Lincoln's orders to stop saboteurs and spies, but could find
no one to serve his writs. Taney opposed John Quincy Adams’ run for President in 1824
and he backed Andrew Jackson. It would take the Civil War for legalized slavery to end.
The Andrew Jackson legacy is apparent. Numerous American nationalists (mostly from
Henry Clay’s Whig Party) fought to have internal improvements, construction projects
(via state governments to replace the missing federal support that was caused by
Andrew Jackson).



The Labor Movement during the 19
th
century
There were major events of the 19
th
century in upheavals that influenced the social
background of the 20
th
century in America. In the 19
th
century, there was the rise of
class and labor struggles in America, the powerhouse of the robber barons (like the
industrialists J.P. Morgan and John D. Rockefeller that even had state influence), etc.
New movements like Marxism and anarchism came about as well. After the American
Revolution (that was lead by the elite in the American colonies), a new working class
labor movement came about in the 1800's. From the 1830's onwards, there was a big
labor struggle in America. Eastern capitalists wanted to expand to the West. They
wanted to use the Manifest Destiny ethos to make the West under control and
unpredictable. They believe in monopolization instead of competition to have stability
and security in their prosperity. The state already by that time played a big role in
securing business interests (like the state legislatures giving charters to corporations,
granting them legal charters. From 1790 to 1860, 2,300 corporations were chartered).
During the early 1800's, economic conditions were bad. There were crowded cities, long
hours in factories, high prices, lost jobs, etc. There were a lack of food and water,
epidemics of diseases, children dying, and sporadic reactions from the poor. There were
freezing winters and the hot tenements in the summer. The anger (that reactionaries
had) was against black people, Catholics even, etc. In that time, there were nativists
against immigration, etc. These events lead into demonstrations and strikes. The 1830's
saw the rise of unions. Protesters in the 1800's grew because of economic crisis. The
1837 economic crisis was created by the banks and it raised prices. This allowed protests
like 20,000 people in Philadelphia. NYC had the Flour Riot in 1837. In that time 50,000
people were out of work (or 1/3 of the working population). Almost half of NYC's
500,000 people were in distress and thousands of protesters rioted. The police and the
troops were called to crush the protesters. There was a general strike in Philadelphia in
1835. There were fifty trade unions had organized in favor of a 10 hour work day.
Political parties began created divided between many people. Another economic crisis
took place in 1857, and in 1860, a Mechanics Association was formed, demanding
higher wages, and called for a strike. Within a week, strikes spread from Lynn,
Massachusetts, to towns across the state and into New Hampshire. Maine experienced
strikes, "with Mechanics Associations in twenty-five towns and twenty thousand shoe-
workers on strike," marking the largest strike prior to the Civil War. Europeans tried to
fight for economic justice a political democracy. Yet, American workers were divided by
class.







Abraham Lincoln (despite his apparent imperfections) worked
with others to directly introduce and fight for the Thirteenth
Amendment to free all the slaves in America.

The Civil War
The Civil War had some Europeans to try to control Americans politically. The Civil
allowed European financiers to fund both sides of the Civil War. The hostilities between
the North and the South were exacerbated by controversies in the antebellum period.
The Union commissioned Jay Cooke to act as selling agent for its bond issues and
Cooke arranged with August Belmont, the New York agent of the Rothschilds, to
sell Union bonds in Europe. In 1861 the Confederacy sent James M. Mason to
England and John Slidell to France to borrow money. Slidell was a nephew of
Belmont's wife. In Paris, John Slidell entered into negotiations with the Erlanger
company, confidential representatives of the Rothschilds. Slidell's daughter
married Erlanger's son. Even though most investors in confederate bonds lost
their shirt, the Erlangers reaped huge profits. August Belmont was the man who
formed a large bank in NYC and other state banks in the south to allow the
profits to benefit a select group of the wealthy elite. It’s ironic that the
Confederacy followed the radical free trade economic system along with its
support of slavery.The Industrial Revolution didn't make slavery profitable, so they
used the economics in the work to make people work productive for an agenda. Evil
draft riots existed in NYC, because economically terrible conditions existed in the North
(yet, black people were falsely made scapegoats for these events). Confederate
Conscription Laws were met in anti-draft riots in many Southern cities as well. The Civil
War ended in 1865. The 13
th
Amendment banned slavery. Abraham Lincoln made many
contributions in economic history. He started the transcontinental railway system. Labor
productivity increased in his time. Lincoln promoted the Land Grand College system to
promote free higher education all across the United States.Abraham Lincoln back in
1836-1837 desired to promoted canals in the Midwest. Later Abraham Lincoln wanted the
promotion of the dignity of labor and the insistence of universal education. He created the
Department of Agriculture in May 15, 1862. This was done to promote the advance use of
agriculture, to develop unique seeds plus plants, and to have scientific research into that
realm. The first scientist appointed by the department was Justus von Liebig’s student
named Charles M. Wetherill. He created the Homestead Act that gave to any head of a
family or to anyone 21 years of age, one-quarter square mile of free land for farming. For
the remainder of the century, the act transferred millions of acres of the public domain to
private ownership. With the first Lincoln-organized Pacific Railroad completed in 1869,
settlers poured into newly opened western lands. Between 1870 and 1880, some 128
million acres were added to U.S. farmland, 49 million acres between the Mississippi River
and the Rocky Mountains. The total amount of improved farmland increased 50%, from 189
million to 285 million acres. The economic growth in America increased after 1865 in a rapid
fashion.


Abraham Lincoln expressed his economic views in these terms:
“…The money powers prey on the nation in times of peace and
conspire against it in times of adversity. The banking powers
are more despotic than monarchy, more insolent than
autocracy, more selfish than bureaucracy. They denounce as
public enemies all who question their methods or throw
light upon their crimes.
I have two great enemies, the Southern Army in front of
me, and the bankers in the rear. Of the two, the one at my
rear is my greatest foe. As a most undesirable consequence of
the war, corporations have been enthroned, and an era of
corruption in high places will follow. The money power will
endeavor to prolong its reign by working upon the prejudices of
the people until the wealth is aggregated in the hands of a few,
and the Republic is destroyed…”
-Steve Bachman, “Unheralded Warnings from the
Founding Fathers to You”, Gather


The Yankees or the Union won the Civil War. I am glad that the Yankees defeated the
Confederacy. The Confederacy was based on intolerance, bigotry, and oppression. After
the war, many soldiers lived in squalor all over America. On April 22, 1866, Albert Pike
(he wrote the book called, “Morals and Dogma of the Ancient and Accepted Scottish
Rite”) was granted a full pardoned by his brother Freemason Andrew Johnson. Johnson
by 1867 was made a 32
nd
Degree of the Scottish Rite of Masonry in his bedroom at the
White House. Lincoln's successor reversed his policies and was impeached.
Andrew Johnson was an enemy of God and he was one of the most bigoted
Presidents in history other than Woodrow Wilson. Millard Fillmore, the thirteenth
president of the United States and a former Mason, said that: “[t]he Masonic fraternity
tramples upon our rights, defeats the administration of justice, andbids defiance to every
government which it cannot control.”A joint committee of theMassachusetts legislature
investigated Freemasonry in 1834 and concluded that Masonry was “adistinct
independent government within our government, and beyond the control of the laws ofthe
land by means of its secrecy.”

Even in NYC, over 100,000 people lived in slums. Corporate wealth grew at the expense
of the poor. This caused the rise of Marxists and anarchists in society. I don't agree with
Marxism and anarchism, but you have to know these views in order to get a clear
picture of fundamental economic history. So, the history of economics is very complex.
William McKinley wanted to build railways to South America even and other
infrastructure projects. He was assassinated by a radical anarchist.

The red-baiting reactionaries always talk about the Russian Revolution. They omit that
the Russian Bolshevik Revolution has been financially aided by Western banks (whose
members have been Bonesmen, Pilgrims, Masons, Papal agents, etc.).








THE FEDERAL RESERVE IS IN EXISTENCE IN WASHINGTON, D.C. WITH BRANCHES
ACROSS THE NATION



“…We must face the fact that the United States is neither omnipotent nor omniscient --
that we cannot impose our will upon the other 94 percent of mankind -- that we cannot
right every wrong or reverse each adversity -- and that therefore there cannot be an
American solution to every world problem.”
-President John F. Kennedy on November 16, 1961 in Seattle

“…The modern banking system manufactures money out of nothing.
The process is perhaps the most astounding piece of sleight of hand that
was ever invented. Banking was conceived in inequity and born in sin . .
. Bankers own the earth. Take it away from them but leave them the
power to create money, and, with a flick of a pen, they will create enough
money to buy it back again . . . Take this great power away from them,
and all great fortunes like mine will disappear, for then this would be a
better and happier world to live in. . . . But, if you want to continue to be
the slaves of bankers and pay the cost of your own slavery, then let
bankers continue to create money and control credit…”

- Sir Josiah Stamp, Director of the Bank of England, 1927


The Federal Reserve
The Federal Reserve existed back in the early 1900’s. Freemasonry and the rest of the
establishment had a keen involvement in its creation. The FED was created via the
Federal Reserve Act. 33
rd
Degree Freemason Carter Glass was the Secretary of the
Treasury under President Wilson. Glass was the U.S. Senator from Virginia. Freemason
Edward M. House advised President Woodrow Wilson to sign the Federal Reserve bill
into law. Now, the 1907 banking panic inspired the FED’s existence. Researchers
believed that the 1907 panic was instigated by J. P. Morgan. Of course, there was the
1910 secret meeting on Jekyll Island. The elite justified these actions as attempting to
manufacture a stable banking system. The 1910 meeting called for a National Reserve
group with 15 major regions that lend reserves to private banks and created money. The
modern day Federal Reserve design was created by many people like Paul M. Warburg
and other Pilgrims. Senator Nelson W. Aldrich (whose daughter married John D.
Rockefeller Jr. They keep their goals in the family literally) introduced legislation to form
this National Reserve Association. The ultimate legislation came about by the
Democrats not Aldrich and his allied Republicans. The Federal Reserve raised its own
revenue, operated its own budget, and never submitted to Congress even an audit. The
FED is basically an independent agency beyond the federal government. Early on,
critiques against the Federal Reserve existed. Even in the 1920’s, New York Mayor John
Hylan wrote that the giant banking octopus seized our legislative bodies, schools, courts,
newspapers, and every agency created for the public protection. Another critique of the
FED was Representative McFabben. He gave his famous speech addressed to the
House of Representatives on June 10, 1932. This speech exposed how the Federal
Reserve was made up of private credit monopolies that prey on the American people to
benefit their own interests. Here are some of his words:
“…Mr. Chairman, we have in this country one of the most corrupt institutions the world
has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks.
The Federal Reserve Board, a Government board, has cheatedthe Government of the United
States and the people of the United States out ofenough money to pay the national debt. The
depredations and iniquities of theFederal Reserve Board has cost this country enough money
to pay the nationaldebt several times over. This evil institution has impoverished and
ruined the people of the United States, has bankrupted itself, and has practically
bankrupted our Government. It has done this through the defects of the law under
which it operates, through the maladministration of that law by the Federal Reserve
Board, and through the corrupt practices of the moneyed vultures who control it. Some
people think the Federal Reserve banks are United States Government institutions.
They are not Government institutions. They are private credit monopolies which prey
upon the people of the United States for the benefit of themselves and their foreign
customers; foreign and domestic speculators and swindlers; and rich and predatory
money lenders. In that dark crew of financial pirates there are those who would cut a
man's throat to get a dollar out of his pocket; there are those who send money into
States to buy votes to control our legislation; and there are those who maintain
international propaganda for the purpose of deceiving us and of wheedling us into the
granting of new concessions which will permit them to cover up their past misdeeds and
set again in motion their gigantic train of crime…”




The Great Depression & the New Deal
The Great Depression in America from 1929 was an unfortunate part of economic history.
The Great Depression was caused by numerous factors. The Great Depression lasted from
1929 until the late 1930’s or the early 1940’s. It was the longest, deepest, and widespread
depression of the 20
th
century. It came as a result of the establishment and the banking elite
performing bad policies in America. According to Webster Tarpley, Sir Montagu Norman and
Benjamin Strong worked in various meetings to create the financial bubble of the 1920’s.
Benjamin Strong and Montagu Norman (the Governor of the Bank of England) wanted to
use the gold standard to be used via central banks without government interference at all.
Norman promoted a policy of easy money, low interest rates, other reactionary policies, and
a weak dollar. Strong in that time dominated the New York FED. The Federal Reserve was
independent of the United States government and the oligarchs hated an independent
government. So, the bankers wanted a bubble economy with new credit in leverage
speculative purchases of stocks. New credit was flowing into broker call loans. Strong was
able to obtain the policies requested by Norman and his European puppets. Norman & Co.
made a second pilgrimage to Wall Street between 28 June and 1 July 1927 to promote
American speculation and inflation. On this second lobbying trip, Norman exhibited grave
concerns about the economy because the first half of 1927 had witnessed a large
movement of gold into New York. Strong and his cabal immediately went into action. The
bubble was increased. John D. Rockefeller, J.P. Morgan, Joseph P. Kennedy, Bernard Baruch,
Henry Morgenthau, Douglas Dillon - the biographies of all the Wall Street giants at that time
boast that these men were "wise" enough to get out of the stock market just before the
Crash. All sides agree that deflation in assets, speculation, the crash of stocks, and other
reasons caused the Great Depression. Some blame the creation of the Smoot Hawley Tariff
of 1930 that contributed to the recession. Regularly, tariffs deal with regulation of
international trade. Some folks like Ian Fletcher disagree with that assumption. In reality,
the Depression’s cause was mostly monetary. The Federal Reserve allowed the money
supply to grow into a huge bubble with stocks piled up. Later, the FED panicked and allowed
the money supply to collapse by a third by 1933. The Smooth Hawley tariff was a very small
policy change since it only applied 1/3 of America’s trade (or about 1.3 percent of our GDP).
American tariffs were up in 1861, 1864, 1890, and 1922. The higher tariffs during those
years didn’t cause global depressions at all. Tariff increases never had anything to do with
the great recessions of 1873 and 1893. U.S. tariffs had little impact on American imports.
World trade has declined because of the Depression itself not because of higher American
tariffs. The decline in the values of the currencies of America’s major trading partners wiped
away much of the effect of the tariff anyway.
Even Milton Friedman and Paul Krugman deny that Smoot-Hawley caused the Great
Depression. Between 1929 and 1932, real GDP fell 17 percent worldwide, and by 26 percent
in the United States. Although, most economic historians now believe that only a miniscule
part of that huge loss of both world GDP and the United States' GDP can be ascribed to the
tariff wars. The official State Department report in 1931 admitted that trade discrimination
against American commerce (with France as an exception) was very slight. A large number
of nations didn't discriminate against the commerce of the United States in anyway.The
McCormack-Dickstein Committee confirmed some of Butler's accusations in its final report
(of a fascist coup plot against FDR being talked about and planned. This plan in Bulter’s mind
was supported by the big bankers in that time from Wall Street). The final report said that
following: "In the last few weeks of the committee's official life it received evidence
showing that certain persons had made an attempt to establish a fascist organization in this
country...There is no question that these attempts were discussed, were planned, and might
have been placed in execution when and if the financial backers deemed it expedient…”
Butler infiltrated a group of co-conspirators who wanted to kill FDR and institute a fascist
form of government in America. Butler told the public after he meet with the extremists.
Smedley Butler fought for veterans having the right to have benefits after wars occurred. He
was apart of the Veterans’ March in 1932. This was where 43,000 people (17,000 of which
were WWI veterans) protested to get compensation or bonuses for their work. On July 28,
army cavalry units led by General Douglas MacArthur dispersed the Bonus Army by riding
through it and using gas. During the conflict several veterans were killed or injured and Butler
declared himself a "Hoover-for-Ex-President-Republican. Smedley Butler was against war
profiteering.

It is true that the New Deal and WWII ended the Great Depression in the 20
th
century. The
New Deal is very controversial as economists and historians debate its effectiveness in the
USA. What is true is that the New Deal was an experimental event. Some programs of the
New Deal were legitimate and some parts of it had errors. The New Deal was right to create
social programs to prevent some elderly people from starving to death (like Social Security),
to build some infrastructure in America, and end the deflation policies that caused the
depression in the first place. Andrew Mellon was prosecuted by FDR. There was the Glass
Steagall Act that separated commercial and economic activities among banks. There were
the Percoa hearings to try to solve financial issues in America. The New Deal wasn’t perfect
of course. Yet, building roads, bridges, hospitals, helping elderly people form dying, giving
the unemployed food stamps, etc. are better than the status quo (or letting the free market
or private charity alone to solve the Great Depression). Many elite bankers hate
compassionvia public institutions sent or given to the poor.
President John F. Kennedy
That is why it isn’t a secret any longer that Western banks funded the dictatorships of
the Soviet Union and the Nazis during the 20
th
century.Dr. Carroll Quigley (a writer and
professor of history at Georgetown. He taught President Bill Clinton) admitted that the
global financiers want to in his own words want to: “…nothing less than to create a
world system of financial control in private hands able to dominate the
political system of each country and the economy of the world as a whole."
Only less than 3 percent of the U.S. money supply is made up of coins and dollar bills.
Now, the other 97 percent exist only as data entries on computer screens. This money is
created by banks in the form of loans. The banking elite create the money supply, making
it falsely appear to be created by the government. JFK in 1962 called for these reforms in
American society:
“…A strong America cannot neglect the aspirations of its citizens -- the welfare of the needy
-- the health care of the elderly, the education of the young. For we are not developing the
Nation's wealth for its own sake.Wealth is the means -- and people are the ends. All our
material riches will avail us little if we do not use them to expand the opportunities of
our people. Last year, we improved the diet of needy people -- provided more hot lunches
and fresh milk to school children -- built more college dormitories -- and, for the elderly,
expanded private housing, nursing homes, health services, and social security. But we have
just begun…To help those least fortunate of all,I am recommending a new public welfare
program, stressing services instead of support, rehabilitation instead of relief, and
training for useful work instead of prolonged dependency…To protect our consumers
from the careless and the unscrupulous, I shall recommend improvements in the Food and
Drug laws -- strengthening inspection and standards, halting unsafe and worthless
products, preventing misleading labels, and cracking down on the illicit sale of habit-forming
drugs…”As we can see, President Kennedy was a Dirirgist. A Dirigit is a person who wants
to mix government services and private services within one country. This populist approach
of dirigism has worked wonders in American history. Other Dirigists who were Presidents
were George Washington, John Quincy Adams, and Franklin Delano Roosevelt.


"...The world can ill afford his loss. That loss through assassination is one of the great
tragedies of history. But for us, now, it is something more. It is a great heart-breaking
personal tragedy. And there are millions of people tonight who throughout the world
will feel that they have lost a friend. President Kennedy was young. He was a man of
courage in war and in peace. He devoted himself to public service. He worked unselfishly
for the public good as he saw it. He has paid for his public service with his life. For the
president it was death on duty. When a free man falls courageously in action, all
freedom grieves, but courage is made easier for others...”
- PRIME MINISTER PEARSON OF CANADA (from 1963)
President John F. Kennedy, according to Gibson's research, wanted to have economic
development and economic planning in the Third World. He wanted Third World nations
to experience nationalism. John F. Kennedy's June 6, 1963 speech was when he
advocated civil rights legislation. There is legitimate criticism toward JFK in that he
was rather lukewarm in fighting against these reactionaries in the South in the early
1960’s. These reactionary extremists wanted to deprive human beings of their rights
because of their skin color. JFK ordered U.S. Marshals to protect Freedom Riders
in Alabama in 1961, called in the National Guard to ensure Jim Meredith's
enrollment at Old Miss in 1962. By 1963, JFK began to support more radical action
after pressure was sent unto him. JFK wanted to "split the CIA into a thousand
pieces and scatter it into the winds."He fired Director of CIA Allen Dulles, Deputy
Richard Bissell and others. He put them under the Joint Chiefs jurisdiction. He also had
Robert Kennedy to use the FBI to keep the Miami CIA people from running boat attacks
inside of Cuban waters. JFK was President for less than 3 years. He dealt with the steel
companies when they increased the price of steel. He signed the Test Ban Treaty which
saved our atmosphere. He put the Civil Rights bill in Congress and donated all his salary
to charity. No President has ever done that. President John F. Kennedy experienced a
long sustained economic growth during his Presidency. Some believed that he wanted a
silver backed currency independent of the private owned FED and of the banks. It is true
that President Kennedy authorized the Secretary of the Treasury to issue U.S. Treasury
silver certificates via the Executive Order 11110 (on June 4, 1963). He was the last
President to issue freely circulating United States Notes or Greenbacks. President John F.
Kennedy wanted industry to serve the Commonwealth not vice versa.
Economic History is readily known. President John F. Kennedy’s tax proposal decreased the
top marginal tax rate from 91 percent to 70 percent. Yet, he closed the tax loopholes that
allowed the super rich to avoid paying anything near the actual rate. By ending welfare and
loopholes for the wealth class he, in effect, RAISED taxes, or revenues. He spoke about this
“revenue increase” in his third debate with Nixon in the 1960 debates and again after he
was President in May of 1961 in front of a joint session of Congress. Also, lowering top
marginal rates to 71% at a time when the economy was growing a 4 to 5% a year is not
comparable to today’s lethargic growth. Kennedy was the first to advocate planned deficits
in a time of neither war nor economic emergency. The aim was for the tax cuts to stimulate
demand, driving the economy from the bottom up. JFK’s tax cuts caused the richest
Americans to pay more in taxes. This caused an increased in revenues, while Reagan and
Bush’s tax cuts resulted in huge deficits. JFK’s chief economic advisor John Kenneth
Galbraith wasn’t an Austrian, but he was more Keynesian. What we have now under the
Bush era tax laws isn't responsible tax policy. Clinton raised taxes by 8.6% in 1993 to 39.6%
& the economy boomed. So, JFK wasn’t totally conservative as he promoted Medicare years
before Lyndon Baines Johnson passed it in July 30, 1965. JFK wasn’t a supply side tax cutter.
President John F. Kennedy believed in tax cuts and spending increases to stimulate the
economy. He moved first on tax cuts because he thought that increased spending was not
initially politically viable. Yet, spending increases remained a large part of his agenda for
1964. "First we'll have your tax cut," he told chief economic adviser Walter Heller, 11 days
before his assassination, "…then we'll have my expenditures program." As he put it in his
first address as president: "If a free society cannot help the many who are poor, it cannot
save the few who are rich." Kennedy called for cutting tax preferences for the oil and gas
industries, saying in 1963 that, “while these are complex as well as controversial problems,
we cannot shrink from a frank appraisal of governmental policies and tax subsidies in this
area.” Kennedy wasn’t hawkish in 1963. He wanted détente, the gradual ending of the
Vietnam War, and he refused to invade Cuba.
There are more important the gives a detailed view of the JFK assassination. The fact is
that President John F. Kennedy had a contentious relationship with the CIA before he
was murdered. Kennedy fired the top level of the CIA after his investigation of the Bay
of Pigs revealed that the CIA lied to him. Then, President Kennedy would fire the three
top officers in the CIA. He issued NSAM’s 55, 56 and 57 to limit the power of the CIA,
issued orders that the ambassador in foreign countries, not the CIA station chief, should
control American policy. President John F. Kennedy created the Defense Intelligence
Agency to also give him advice. As Jim Douglass details at length, after the Missile Crisis,
Kennedy used several intermediaries as back channels to Castro in order to establish a
détente. (Kennedy often operated like this since he was at times in opposition to his
Cabinet, e.g., during the Missile Crisis, and in the genesis of his Vietnam withdrawal
plan.) In this instance, he used William Attwood, Lisa Howard, and Jean Daniel in order
for him to advance détente with Cuba. These negotiations went on for 11 months. And
near the end, plans were being set for a visit to Castro by Attwood as Kennedy’s
emissary. Discussions would center around removing Soviet influence on the island in
exchange for the beginning of the exploration of diplomatic relations. Castro was actually
shocked by how sincere Kennedy was about this. Castro said that John F. Kennedy
would be the greatest President since Lincoln since normalization of relations was
established between America and Cuba. Still, JFK adamantly opposed Communism as I
do. Even in November 14, 1963 (during his 64
th
Presidential conference), President
John F. Kennedy said the following about Communist China:
Question: Mr. Kennedy, what are the pre-requisites or conditions for resumption of some
form of trade with Red China?

JFK Answer: We're not planning to trade with Red China in view of the policy that Red
China pursues. When the Red Chinese indicate a desire to live at peace with the United
States and other countries surrounding it, then quite obviously the United States would
re-appraise its policy. We're not wedded to a policy of hostility to Red China. It seems to
me Red China's policies are what create the tension between -- not only the United
States and Red China -- but between Red China and India; between Red China and her
immediate neighbour to the south -- and even between Red China and other Communist
countries..."
Also, Diem was murdered by Henry Cabot Lodge and Lucien Conein. JFK was shocked
by Kennedy’s death and he was about to fire Lodge. He died before he would do it. The
plan for the Bay of Pigs invasion existed under Eisenhower back in 1960. JFK used RFK
to be a part time ombudsman over certain CIA operations. This angered certain Agency
officers according to David Corn’s “Blonde Ghost.” It’s way to see that President John
F. Kennedy was working for détente for Cuba and the USSR. This is documented in Jim
Douglass’ “JFK and the Unspeakable.” This policy would weaken greatly the military
industrial complex. Even Lyndon Johnson (by 1969) later believed that flaws existed in
the composition of the Warren Commission. John F. Kennedy presented a radical policy
change from Eisenhower, Nixon, and Johnson. For example, President Eisenhower and
the CIA Director Allen Dulles wanted to isolate Congo and have Patrice Lumumba
murdered. This would allow Congo to be partitioned and it wealthy mineral province or
Katanga to be dominated. Dag Hammarskjold and the U.N. opposed this policy. JFK
didn’t want Congo to be partitioned. He reversed Eisenhower’s policy by asking UN
control of all armies. JFK wanted the country to be neutralized to free of all political
prisoners including Lumumba. So, he wanted nationalism to exist in the Congo and
Algeria. After the JFK assassination, Lyndon Johnson ended Kennedy’s Alliance for
Progress plan and LBJ promoted anti-communist paranoia during the Cold War. JFK
and Rockefeller had antipathy toward each other.
*More history about the New Frontier era is coming out in the 21
st
century. JFK never
supported the coup d’état against João Goulart in Brazil. Kennedy wanted JoãoGoulart to
broaden the political spectrum of his government. The Rockefeller interests and McCloy
supported the coup against João Goulart instead in 1964. Kennedy support Juan Bosch
and his removal was done in September 1963 by reactionary forces in the Dominican
Republic. Kennedy ended all military and economic assistance personnel from the
Dominican Republic because of the coup. Johnson supported the military junta after JFK
was assassinated.



Dr. Martin Luther King Jr’s Campaign for Economic Justice
After Kennedy's assassination, Lyndon Johnson allowed the FED to have Federal
Reserve Notes without being redeemed in silver (to replace the U.S. Notes). This policy
was the beginning of the end of the Greenbacks. Dr. Martin Luther King desired social
justice in his own words: “…I think with all of these challenges being met and
with all of the work, and determination going on, we will be able to go
this additional distance and achieve the ideal, the goal of the new age,
the age of social justice…” Dr. King’s economic views are well known. He believed
in a guarantee annual income in order to fight against poverty. The reason is that past
efforts to solve poverty didn’t manifest into radicalimprovement in society. Dr. King
wanted the government to pay an active role in order to protect the poor and the most
vulnerable in the United States. In fact, Dr. King, before he was assassinated in 1968,
allied with striking sanitation workers in Memphis, Tennessee. Dr. King and civil rights
leader wantedto march in order for them to allow workers to receive a living wage& fair
jobs (including an union contract). We have a long way to go since 1 in 3 working
families nationally are low income according to the Working Poor Families Project via
the latest available Census data. So, it’s certainly morally correct to promote economic
empowerment & confidence for everyone.
Glen Beck has taken historical revisionism into another level. He denied that Dr.
Martin Luther King died fighting for labor rights. Beck tried to mock the AFL-CIO
President Richard Trumka for saying that Dr. Martin Luther King died while
fighting for public union workers, which he died. That is why Dr. King was shot
while in Memphis trying to support striking municipal workers and Benjamin
Mays (or King’s mentor and friend) spoke of King’s dedication to fight for a just
wage for workers.We judge a person on the content of their character and many
reactionaries lack character. April 4
th
is the 43
rd
anniversary of the day that Dr.
Martin Luther King was assassinated. He spoke on the behalf of black garbage
collecting in Memphis, Tennessee. King wanted the protesting workers to have a
decent wage and labor rights. In fact, his “I’ve Been to the Mountaintop” speech
delivered the day before his assassination wanted fair dealings with workers in
Memphis who were sanitation workers. Mayor Loeb didn’t want the workers to
have reformers until after Dr. King was murdered. All workers need better safety
standards and a decent wage. The union, which had been granted a charter by
AFSCME in 1964, had attempted a strike in 1966, but it failed, in large part because
workers were unable to arouse the support of Memphis's religious community or
middle class. Conditions for black sanitation workers worsened when Henry Loeb
became mayor in January 1968. Loeb refused to take dilapidated trucks out of
service or pay overtime when men were forced to work late-night shifts. Sanitation
workers earned wages so low that many were on welfare and hundreds relied on
food stamps to feed their families. This proves that all people should experience
justice including the poor. Glen Beck’s historical revisionism is nothing new, but his
anti-union rhetoric is old and tired. Without unions, we wouldn’t have the
minimum wage, improved workers conditions, and other real benefits that we
Americans take for granted constantly. Glen Beck is an intelligent man, so he might
ignore information in order to promote his agenda. I believe in collective
bargaining. I don’t believe unions are perfect at every single circumstance, but
union busting doesn’t solve our problems though. Dr. King was expanding his
mind in talking about other issues like health care, Vietnam, materialism, and other
foreign policy issues.








*Also, we should understand our heroes too. Dr. Martin Luther King lived a courageous life.
We ought to use his memory to advocate the legitimate goals of his life. He was right to
oppose discrimination and racism. He was right to disagree with imperialism and the
Vietnam War. Dr. King was correct to say that it is hypocritical for the government to spend
more money on military defense than on programs on social uplift (which is causing spiritual
death). He was never alone in his fight for human justice. He worked with countless
individuals (including numerous unsung heroes) as a means to fight the powers that be. He
reminds us that unjust laws should be opposed directly and firmly. He reminds us that just
because you follow nonviolence, doesn't mean that you are a coward (regardless if you accept
the tenet of nonviolence or not) and that self-determination is glorious. Yes, there is dignity
in LABOR. We are fighting for the establishment of the BELOVED COMMUNITY for our
black people where we are truly FREE. He was correct to say that Black is Beautiful and we
should struggle together for our rightful place of liberation for our people. WE HAVE THE
RIGHT TO EXPERIENCE LIBERATION. We should live our lives daily to understand the
struggle of our people and to do what is right for the betterment of all people. The inspiration,
the strength, and the massive resiliency of black people can never be stopped at all. We will
win.
1971
1971 was one year in economic history that people can't forget. From 1945 to 1971,
America had most of the world's gold reserves, a large industrial base, and a surplus of
dollars backed by gold. The U.S. could afford to spend moneys to Germany, Japan, etc.
to allow those nations to grow economically from the 1950's to the 1960's. There was
stability when the economies of Asia and Western Europe started to flourish as a counter
to communism. This caused an advantage to America. Vietnam came. By the late 1960's,
the Vietnam War led to a drain of U.S. gold reserves. America was spending more than it
had in its gold reserves. The drain was in huge level by 1968 when stagflation became a
reality. As foreign central banks holding dollars feared the US deficits would make their
dollars worthless, and preferred real gold instead. Let's be clear. The Bretton Woods
Agreement form 1944 fixed all exchange rates that allowed the dollar to be anchored by
gold (it didn't allow U.S. currency to have an explicit gold standard financially). The
agreement wasn't perfect, but it limited speculators from creating massive bubbles in the
economy. The Bretton Woods gold situation worked, because few countries converted
their dollars into gold. Richard Nixon in August of 1971 broke with the Bretton Woods
agreement. Nixon was inspired to take this route as early as 1968 by the economist
Milton Friedman. He didn't want dollars to redeem with gold. He wanted the dollar to be
fixed not on an ounce of gold, but on the printing press of the Treasury and the Federal
Reserve. The problem was that the dollar was based on fiat currency and fractional
reserve currency. This new dollarism policy (or floating exchange rates since 1971) was
worse than the Bretton Woods gold standard policy since multinational corporations can
just devalue national currencies in smaller nations by selling them short on the
international market. This caused financial markets to be deregulated, more controls
lifted, offshore banking, and unregulated hedge funds (plus financial derivatives to exist).
Washington and New York banks caused this to occur. Debt increased as well. Because
all key commodities, above all, oil, were traded globally in dollars, demand for dollars
would continue, even if the US created more dollars than its own economy justified. The
overreliance on the dollar by some nations existed to inflate their economics. There was
an economic crisis in Germany, Japan, and the world by 1973. In the years between 1945
and 1965, total supply of dollars grew a total of only some 55%. Those were the golden
years of low inflation and stable growth. After Nixon's break with gold, dollars expanded
by more than 2,000% between 1970 and 2001! The dollar is the mostly utilized global
reserve currency. The Euro exists now too. The dollar hegemony has caused many
problems indeed that we experience today in 2011. Gold is difficult to work in a domestic
standard since gold can fluctuate rapidly in its prices level, there is not enough gold in the
world to handle trade, and this policy can drain U.S. gold reserves.
The 1973 Oil Crisis
The oil crisis has a long history. The Yom Kippur war contributed to the extensive oil price
rises. The May 1973 Bilderberg Group meeting was famous. The meeting mentioned a 400%
increase in the price of oil was discussed and meeting participants were creating a plan about
how to manage the about to be created flood of oil dollars. Oil isn’t foreign issue of the
Bilderberg since the 1973 participants were CEOs of the Royal Dutch Shell, British
Petroleum or BP, S.A. ENI, Exxon, and other individuals to Baron Edmond de Rothschild
and David Rockefeller (plus the U.S. Secretary of State at the time who was Henry
Kissinger). In the Yom Kippur War, Nixon was in the middle of the domestic issue of
Watergate. Kissinger had huge power in the White House. Rogers resigned and Nixon
allowed Kissinger to be both National Security Advisor and Secretary of State. Kissinger
didn’t tell Nixon about the seriousness of King Faisal of Saudi Arabia’s intension of cutting
back oil supplies over U.S. policies in the Middle East. An oil embargo soon came about. In
1972, King Faisal of Saudi Arabia had “insisted that oil should not be used as a political
weapon.” However, “in 1973, Faisal announced that he was changing his mind about an oil
embargo.” Faisal held a meeting with western oil executives, warning them. Sadat told Faisal
of the plan to attack Israel, and Faisal agreed to help both financially and with the “oil
weapon.” Days later, the Saudi oil minister, Sheik Ahmed Yamani, “began dropping hints to
the oil companies about a cutback in production that would affect the United States.” The
Yom Kippur war occurred, America gave Israel arms. This allowed the Arabic OPEC
countries to have a 70 percent increase in the price of oil on October 16
th
, 1973 and an oil
embargo against the U.S. on the 17
th
. The Bilderbergers 5 months before planned on how to
manage the about to be created flood oil dollars. In 2001, the former Saudi representative to
OPEC, Sheik Ahmed Yamani, said, “'I am 100 per cent sure that the Americans were behind
the increase in the price of oil. The oil companies were in real trouble at that time, they had
borrowed a lot of money and they needed a high oil price to save them.” When he was sent
by King Faisal to the Shah of Iran in 1974, the Shah said that it was Henry Kissinger who
wanted a higher price for oil. An article in Foreign Policy, the journal published by the
Carnegie Endowment for International Peace, concluded from exhaustive research, that,
“Since 1971, the United States has encouraged Middle East oil-producing states to raise the
price of oil and keep it up.” This conclusion was based upon State Department documents,
congressional testimony and interviews with former policy-makers. The result of the oil crisis
of 1973 caused Japanese financial system to be more deregulation and it increased inflation.
The Growth of Neoliberalism

We know the economic crisis in America and some want an alternative to our neo-liberalism
situations. Others like Margaret Thatcher believe that there is no other alternative, but to accept
the system as it is. This isn't so. We have wars, plunder of the Earth ecological or otherwise, the
unfettered free market economy, and neoliberal globalization. Globalization is an economic
system that embraces radical free trade under the guise of technological development. Usually, it
or globalization can be cold and unforgiving in its way. Neoliberalism has its roots from Adam
Smith's invisible hand viewpoint. Neoliberalism was modernized in Chile in 1973. This was the
time of the coup against the democratically elected President. This coup was supported by
America and a military dictatorship came in its place. The economics of the military dictatorship
was the neoliberal models of Milton Friedman (and the Chicago Boys, who are students of
Friedrich von Hayek). Freidman followed monetarism. Monetarism is the belief that the
government should only slightly increase the money supply to handle inflation (or the increase
level of prices of goods and services in an economy over a period of time). Inflation is when the
quantity of money rises more rapidly than economic output too. One problem with monetarism is
that a cap on economic expansion can lead into deflation (or a contraction in money supply), a
decrease in living standards, etc.Neoliberalism deals with trying to have specialization and
replacement, ending public of state interference with market forces, and separating economics
from political systems. Some are so extreme that they mock altruism and help to others as a form
of responsibility. Some of them who support this idea reject the common good. They believe in
the freedom of corporations on bar with individual freedoms. To get the maximum profits in the
shortest time can cause speculation. Neoliberalism has spread global after WWII. Today, we
have big corporations completely against each other for a win instead of just small enterprises
have the freedom of the market. We have new market oligopolies and new monopolies. Today,
we have the market benefiting mostly the few and not for the many. Multinational corporations
now control the market, some of them go beyond anti-trust laws, and act as the real 'invisible
hand' that determines the rules of trade, prices, and legal regulations. Some in the public sector
(with usually for profit motive) is cut and some parts of the public sector are privatized to
corporations. When you have no public services, you only have private services.
Some private services are fine and some are not. That is why you need both
public and private services to help society. Then, social services decreased via
these neoliberal policies. Economic growth can't secure employment if economic growth is
accompanied by the mergers of business (when jobs are lost). Many women in the Third World
and men go throw low poor, environmentally bad conditions, and corporate exploitation.
Corporations go oversees to escape unions and labor standards. They exploit cheap labor in
order to make a profit in the EPZs or the Export Processing Zones. EPZs are in colonial
capitalists conditions. The technological areas aren't growing in America heavily. Neoliberalism
have many flaws and is a causing a neo-colonialism of the North (or the developed nations in the
Northern Hemisphere including Australia & New Zealand in economic terminology).


There is more influence about the Austrian school that few people know about. The
elite used and funded the Austrian school to promote anarchy beyond just private
enterprise. Many people have exposed this reality. Some have found Jesuit influence in
the Mises Institute. Back months ago, I have heavily criticized for this. Yet, now, Austrian
economics have been refuted so bad that my information has much more support than
even a year ago. Ron Paul and his crew have brainwashed many young people into
believing that cutting almost everything will grow the economy. Roman Catholic Lew
Rockwell is the Chairman of the Mises Institute. He has a degree in English from Tufs
University. He worked as Ron Paul's congressional chief of staff from 1978 to 1982. He
promotes anti-Lincoln articles. Roman Catholic Thomas E. Woods is a proponent of the
Confederacy. Walter Block is a member of the Ludwig von Mises Institute for Austrian
Economics. He met with Ayn Rand and is a devout atheist. Murray Rothhard is another
figure in that world as well. Some people have used this philosophy to promote a more
fascist ideology (in breaking down nationalism and numerous Austrians hate the
concept of nationalism or the nation-state). While the extremes of anarchy and
communism are promoted in society, real populist solutions are pulled under the rug.




"The real rulers in Washington are invisible, and exercise power
from behind the scenes."
-Judge Felix Frankfurter
The truth about Social Security

It's a part of Wall Street propaganda to blame Social Security for our deficit. In reality,
Social Security has not contributed one dime to our current fiscal woes, because that
money was contributed by America's workers over decades. The President's Fiscal
Commission is holding its 2
nd
public meeting today and when commission members say
everything is on the table, they are talking about Social Security and Medicare. The
commission was made by an Executive Order from President Barack Obama in February
of 2010. A commission with broader powers failed in the Senate. Dean Baker (the co-
director of the CEPR or the Center for Economic and Policy Research) said that
establishment conservative groups and Wall Street insiders have spent more than 1
billion dollars to try to cut Social Security and Medicare (in the lie that this is the only
way to protect our children and grandchildren from poverty). Deficit is the new buzz
words neo cons use in promoting austerity. Deficits and debts are words similar to
terrorism in that they words are utilized by the neo cons in promoting paranoia. The
truth is that Social Security now has a massive surplus that can rise from 2.5 trillion
dollars now to 4.3 trillion dollars by 2023. This vast wealth was collected over many
years from workers under the Federal Insurance Contributions Act (FICA) to pay in
advance for baby boom retirements. The money will cover all benefits until the 2040s–
unless Congress double-crosses workers by changing the rules. The non partisan
Congressional Budget Office said that most of the deficit over the next 10 years will
come from the Bush administration's tax cuts for the rich, the wars in Afghanistan plus
Iraq, the economy, and rising costs (that some believe will be rein it by the health care
reform law). The deficit crisis is largely a symptom of the jobs crisis. Barbara Kennelly.
President of the National Committee to Preserve Social Security and Medicare
(NCPSSM), says if the "commission's goal is to get our nation's fiscal house in order then
its attention should be on programs which contribute to our debt and the revenue
reforms necessary to improve the federal balance sheet." Deficit alarmists have existed
throughout human history. We should not follow their lead into austerity, but use
rational approaches in solving our real economic problems. Many of the richest
American corporations paid no income tax in 2009 like G.E. and Exxon. U.S. revenues
from corporate taxes as percentage of GDP are among the lowest in the world. When
Reagan cut corporate taxes in 1986 it did not improve the economy for middle class
Americans. The economy was already in high gear under a top marginal tax rate of 50%.
The lowest unemployment rate ever recorded, 2.5%, was in May-June of 1953 when the
top marginal tax rate was 91%. The period of the lowest tax rates of the last 97 years
was from 1925-1929 when the top rate started at 28% & by 1929 was down to 24%.
That brief period of record low taxes was followed by the Great Depression.







The modern reactionaries

A recap of exposing Ayn Rand is in order. Ayn Rand was a fictional writer in the 20th
century. Her real name was Alice Rosenbaum. She was born in 1905 in St. Petersburg,
Urssia. She left to America in 1926 to escape communist persecution. He wrote Atlas
Shrugged in 1957. She died in 1982 and promoted Objectivism. This philosophy
wants to view each individual as its own god individual. It places the interests of the
individual above responsibilities to help others. Her extreme libertarian views made her
loved by many conservatives worldwide. She didn't like any social welfare whatsoever.
She doesn't even believe that the government should help the poor and less fortunate
of society being a social Darwinist (allowing the so-called strong survives when many of
them surviving aren't really strong at all morally). Ayn Rand was paranoid in thinking
that government's only role was to oppress people. An U.S postage stamp supports her
when she promoted the evil virtue of selfishness instead of selflessness. She wanted
greed to be virtuous and hated charity. She was an atheist and viewed the concept of
God as degrading to a man when there has been conclusive evidence that God doesn't
exist at all. Ironically, Newt Gingrich, Ron Paul, Tom Delay, Ronald Reagan, Alan
Greenspan, and other have praised Ayn Rand. They love tax cuts for the wealthy and
some of this ilk wants to eliminate the minimum wage. Each of these individuals believe
that free markets are the primary key in solving our economic complications. If no one
controls the market (and the market had no boundaries in them), then the oligarchs will
control them. I don’t support the Federal Reserve at all, but it’s an absurd argument to
assume that any spending of money will automatically cause inflation.Neocons wrap
themselves in the American flag when promoting their views. Much of the U.S.
infrastructure hasn’t been updated since 1958 and some of these neo-cons want radical,
draconian cuts into our spending. They are deluded people indeed. There should be self
reliance, but also sacrifice, charity, love for the neighbor, and fighting against poverty.


Those conversant in economics know this image easily. This is the image of the
business cycle during the time of a recession and beyond. The peak is when there
is low unemployment. The trough is the worst part of the recession where
unemployment is high. The expansion comes with employment rates goes up
along with increases of GDP. The business cycle comes up and down with
exceptions of course.
Economic Information
There is the power of Congress to coin money, and to fix the standard of weights and measures.
This is found in Article 1, Section 8 of the Constitution. That is why many populists oppose
borrowing paper or gold (or silver) from private corporate entities in order to get rid of legal tender
laws to allow for competing currencies. National sovereignty is bigger than tyranny. Section 10
states that no state shall coin money or emit bills of credit. That is why people don’t want to put
debt or interest in our money supply. Most Americans own no gold. Debt free money can be done
in the repairing and building of our infrastructure. Deflation is worse than inflation. Deflation is the
prime cause of depression. The government can steal from the people just as easily under Gold
and Silver, and can even confiscate the Gold and Silver. Again, the bankers made their wealth
using the Gold and Silver standard. We should end the debt money system and begin a wealth
money system. The Republican austerity plan of cutting and gutting services is about protecting
the crooks on Wall Street and the bankers. The Austrian school is funded by the Mont Pelerin
Society and the right side of the Left/Right paradigm (including the Council on National Policy).
The Left paradigm wants to demonize any private imitative to strife private efforts to solve
problems. Likewise, the Right Paradigm demonizes even legitimate governmental actions in order
to allow the globalists to control us via the international banking cartel. The banking cartel used
deflation and other evil policies to cause recessions in world history. The phony left created the
problems to get our reaction, and the Austrian school, Von Hayek, Mises, Ron and Rand Paul,
Alex Jones, Schiff, Beck, Milton Friedman, etc, etc, are offering the solution, which will destroy
our sovereignty and independence by making it possible for the hidden-hands of global
governance to rule over our economy. Ron Paul wants austerity and no long term solution to our
economic system. (except a free market solution). So, the austerity evils don’t work to help us.

The Deficit hawks and the Tea Party crowd talk about inflation all the time. The deficit
hawks believe that the money supply is increasing that is causing the devaluing of
currency. Other people believe that we need more money in the economy to stimulate
productivity. The FED’s monetary policy turns on it and so does Congressional budget
policy. In 2009, inflation fears increased. This was because of the Fed policy of
quantitative easing (or effective money printing). The inflationists or the deficit hawks
believe that commodity prices shot up. The deflationists (or those who oppose deficit
hawk belief systems) point to the housing market, which has collapsed and taken prices
down with it. Prices of consumer products other than food and fuel were down. Wages
were stagnant, so higher food and gas prices would mean people have less money to
spend on consumer goods. The bubble in commodities according to the deflationists has
been trigged by their fear of inflation. Commodities attract hot money or investment
money racing from one hot investment to another. Money supply figures can deal with this
controversy. Although, the FED quite reporting on M3 back in 2006. M3 was the largest
measure of the money supply. M3 figures are still abilities. The Shadow Government
Statistics or SGS found that the M3 values were stable, increased, decreased rapidly from
2008 to 2010, and from 2010 to now, M3 numbers slightly increased. So, overall U.S.
money supply is shrinking even though the FED wants to inflate it with quantitative
easing. Japan had doing quantitative easing for a decade and the U.S. is stilling fighting
deflation (or the decrease of the value of money in the economy). M3 collapsing in 2008
dealt with the banking system like money market funds and repos. There is the non-bank
system where large institutional investors have substantially more to deposit than $250,000
(the FDIC insurance limit) park their money overnight. The financial crisis was dealing with the
panic where institutional investors and firms didn’t want to renew sale and repurchase
agreements (repo) short term, collateralized agreements that the FED rightly used to count as
money. Firms sold assets in the panic. This reduced bond prices and caused losses. So, credit
and lending must occur among traditional banks and the local economy in order for the economy
to grow or develop. Public debt can fill the void when private debt falls down. Public debt is not
the same as household debt, which debtors must pay off or face bankruptcy. The U.S. federal
debt has not been paid off since 1835. Indeed, it has grown continuously since then -- and the
economy has grown and flourished along with it. Congress not the FED has the policy to issue
currency to help the economy. This is why economic populists to have debt free money to prevent
the demands of private creditors, including austerity measures and privatization of public assets.
Far from inflation being the problem, the money supply has shrunk and we are in a deflationary
bind. The money supply needs to be pumped back up to generate jobs and productivity; and in
the system we have today, that is done by issuing bonds and using credit to build our nation up.
The elite are using these economic crashes to make a more centralized economic system. The
real super rich are not really effected by economic crises since they have trillions of dollars
already and they can steal billions of dollars from bailout taxpayer dollars. The elite have stolen
over 9 trillion dollars from the bailout alone. Even researchers have found the bailoutof AIG as
being immoral:

"Goldman's Lloyd Blankfein was the only CEO of a Wall Street firm who was present at
the New York Fed meeting when the AIG bailout was discussed. So let us not kid each
other: The $162 billion bailout of AIG is a nontransparent, opaque and shady bailout of
the AIG counter-parties: Goldman Sachs, Merrill Lynch and other domestic and foreign
financial institutions."
-Matthias Chang, "The Federal Reserve is Bankrupt," Global Research, 3/10/09

The World after the Modern Great Recession
The economic world today is slicker and more sophisticated. Groups like the Cato Institute are
now funding voucher initiatives, so American education can be totally privatized, which can lead
to total indoctrination of students into the establishment’s mindset. The Cato Institute is heavily
funded by the Scaife, Koch, Bradley, and Lambe Foundations. The complete privatization of
schooling is promoted by the Cato Institute as admitted by their own papers. Austerity is a real
threat in society as well. The big picture is that the Federal Reserve System since 1913 placed
our money into the hands of private financiers (using currency, credit, and loans). They were
instrumental in the 2007 prime mortgage swindle via Goldman Sachs and JP Morgan/Chase.
They looted taxpayer money to bail out banks touted as “too long to fail.” Ironically, some
Democrats are attacking unions. These acts are found in many blue states like Massachusetts,
Connecticut, Oregon, California, New York, Illinois, Washington, Hawaii, Minnesota, Maryland,
and New Hampshire. Some Democrats act in support of collective bargaining rights of union, but
they use other slick devices to make their agenda known. One example is the Democratic anti-
union governor of Connecticut wanting to demand a $1.6 billion in cuts from state workers. This
contract isn’t ratified yet, but Governor Malloy called the agreement as historical. The governor of
Washington State wants union salaries cut to. The anti-union governor of Oregon wants a 20 to
25 pay cut for state workers for the sake of promoting collective bargaining. There is nothing
wrong with collective bargaining, but we shouldn’t have austerity either. You will notice that super
elite will not make concessions at all. These concessions don’t involve taxing the super rich and
corporations. A real nation movement for fair treatment of workers and human rights is necessary
to make a real economic system in the USA (without soft demands).
The Deficit hawks and the Tea Party crowd talk about inflation all the time. The
deficit hawks believe that the money supply is increasing that is causing the devaluing
of currency. Other people believe that we need more money in the economy to
stimulate productivity. The FED’s monetary policy turns on it and so does
Congressional budget policy. In 2009, inflation fears increased. This was because of
the Fed policy of quantitative easing (or effective money printing). The inflationists
or the deficit hawks believe that commodity prices shot up. The deflationists (or
those who oppose deficit hawk belief systems) point to the housing market, which
has collapsed and taken prices down with it. Prices of consumer products other than
food and fuel were down. Wages were stagnant, so higher food and gas prices would
mean people have less money to spend on consumer goods. The bubble in
commodities according to the deflationists has been trigged by their fear of inflation.
Commodities attract hot money or investment money racing from one hot
investment to another. Money supply figures can deal with this controversy.
Although, the FED quite reporting on M3 back in 2006. M3 was the largest measure
of the money supply. M3 figures are still abilities. The Shadow Government Statistics
or SGS found that the M3 values were stable, increased, decreased rapidly from 2008
to 2010, and from 2010 to now, M3 numbers slightly increased. So, overall U.S.
money supply is shrinking even though the FED wants to inflate it with quantitative
easing. Japan had doing quantitative easing for a decade and the U.S. is stilling
fighting deflation (or the decrease of the value of money in the economy). M3
collapsing in 2008 dealt with the banking system like money market funds and repos.
There is the non-bank system where large institutional investors have substantially
more to deposit than $250,000 (the FDIC insurance limit) park their money
overnight. The financial crisis was dealing with the panic where institutional
investors and firms didn’t want to renew sale and repurchase agreements
(repo) short term, collateralized agreements that the FED rightly used to
count as money. Firms sold assets in the panic. This reduced bond prices and
caused losses. So, credit and lending must occur among traditional banks and
the local economy in order for the economy to grow or develop. Public debt
can fill the void when private debt falls down. Public debt is not the same as
household debt, which debtors must pay off or face bankruptcy. The U.S.
federal debt has not been paid off since 1835. Indeed, it has grown
continuously since then -- and the economy has grown and flourished along
with it. Congress not the FED has the policy to issue currency to help the
economy. This is why economic populists to have debt free money to prevent
the demands of private creditors, including austerity measures and
privatization of public assets. Far from inflation being the problem, the money
supply has shrunk and we are in a deflationary bind. The money supply needs
to be pumped back up to generate jobs and productivity; and in the system we
have today, that is done by issuing bonds and using credit to build our nation
up.

I think the brother Savant inspired me to embrace economic populist thought into the next
level. The evolution came after the recession hit in 2007. Then, my heart changed and now I
believe in exposing the evil corporate power structure. This is a weakness of the
Republicans since a high level of them refuse to expand any populist economic goals that
would benefit the poor human beings. This is why the Republicans don’t have a strong
constituency among the working class, oppressive racial minorities, and other minority
groups in America. The Republicans in large measure represent the interests of Main Street
that are in favor mostly with the agenda of Wall Street. The current economic system
exploits and oppresses people. The country is rapidly moving into a centrist or center-left
pro-corporate atmosphere. To this credit, President Barack Obama has spoken on behalf of
the workers’ collective bargaining rights being attacked in Wisconsin. Malcolm X once said
that the Right was like wolves, and liberals (among the establishment) like foxes. The wolf
was more or less OPENLY hostile to civil rights during the 1960s, while the smiling liberal fox
pretended to be a friend. But one had to struggle against the fox as well as the wolf if one
didn't want to be eaten alive. As decades come on, Malcolm X is proven right not only on
racial justice, but on economic issues or economic justice as well. Some want cooperatives,
infrastructure building, and other economic populist solutions in America. Either that or
Yankee anti-intellectualism will win and nihilism will harm people for decades to come.
Revolutions deal with transformation of society and values. It must be a transformation
from bigotry, militarism, and materialism into tolerance, peace, and human societal
development into a more tranquil world (and an unity among both educated people and
others who are grassroots individuals that haven’t received a mainstream education). Yet,
education in numerous forms is fine. Education can liberate human beings and create more
active power to make a real, logical change in the world. Freedom movements spanning
thousands of years expounded on education in order to create freedom more realistic. This
is why racist slaveholders back in the day forbid slaves from reading books or become
adequately literate. So, we shouldn’t dumb down education and glorify ignorance (that we
see in the 21
st
century. They or the establishment don’t want those with intellectual
strengths of a Dr. King, Mario Savio, Angela Davis, JFK, Einstein, etc. You don’t have to agree
with all of these human beings politically, but I do respect their intellectual growth).
Offshoring have destroyed much of the U.S. economy. Even Nobel economists Michael
Spence said that globalism is costly for Americans. Spence and Sandile Hlatshwayo, a
researcher at New York University made their research available. The two economists have
taken a careful empirical look at jobs offshoring and concluded that it has ruined the income
and employment prospects for most Americans Things can change though. The
establishment CFR published their research report entitled, “The Evolving Structure of the
American Economy and the Employment Challenge.” It’s easy to see that U.S. corporations
used by Wall Street (and other retailers like Wal-Mart) move offshore their production for
U.S. consumer markets. This moves offshore simultaneously U.S. GDP, U.S tax base, U.S.
consumer income, and other career opportunities for American citizens. Offshoring has
damaged upward mobility in America. This ruins income distribution and cause large budget
deficits, and the U.S. dollar as a reserve currency is in trouble. An economy to be moved
offshore and not being prosperous has been exposed by the following economic experts: Dr.
Herman Daly, a former World Bank economist and professor at the University of Maryland,
Dr. Charles McMillion, a Washington, DC, economic consultant, and Dr. Ralph Gomory, a
distinguished mathematician and the world’s best trade theorist. Other billionaires exposed
the dangers of offshoring in the American economy. One was Roger Milliken. He was the
late South Carolina textile magnate. He spent his time on Capitol Hill. The other billionaire
was the late Sir James Goldsmith. He made his fortune by correcting the mistakes of
America’s incompetent corporate CEOs by taking over their companies and putting them to
better use. Sir James spent his last years warning of the perils both of globalism and of
merging the sovereignties of European countries and the UK into the EU. Sir James wrote his
book called “The Trap” in 1993 and The Response too. He exposed free trade extremism
and warned about globalism. Both Sir James and Roger Milliken said that working and
middle classes in the Europe would be ruined by the greed of Wall Street and corporations
(this will boost corporate earning replacing their domestic work forces with foreign labor).
This replaces domestic work forces with foreign labor that would be paid a fraction of
labor’s productivity resulting in the foreign country’s low living standard and large excess
supply of labor. If there is an excess of supply of labor or the ability of corporations to pay
labor less than its productivity, the corporations bank the difference, the share prices ris,e
and Wall Street plus shareholders benefit financially. Many critiques of globalists like
Herman Daily, Ralph Gomory, Charles McMillion, etc. are caused protectionist. Yet, radical
free trade isn’t about comparative advantage, but absolute advantage braod in the lowest
factor cost. Some economists have been paid for in order for people to support the
corporate line. Globalism wants to have capital profits at the expense of labor wages. But
with engineering, design, and research jobs offshore, and with many of the jobs that remain
within the US filled by foreigners on HB-1 and L-1 visas, we now have the phenomenon of
American university and college graduates, heavily indebted with student loans, jobless, and
living with their parents, who support them. So, we should have populist economic
solutions.
Economic news is important to know about. People talk about monopolies of yesteryear,
but monopolies even exist now. For example, the Bank of America, JP Morgan Chase,
Citigroup, and Well Fargo according to Dean Henderson own numerous Big Oil
companies (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche
Bank, BNP, Barclays and other European old money behemoths. According to the company 10K
filings to the SEC, the 4 banks listed are among the top stock holders of every Fortune 500
corporation. The stockholders of these money center banks are important since stockholders are
more powerful than corporate executives. U.S. Trust Corporation was founded in 1853. It was
created to be a repository of the wealth of the global oligarchy that owns these bank holdings. A
recent US Trust Corporate Director and Honorary Trustee was Walter Rothschild. Other
directors included Daniel Davison of JP Morgan Chase, Richard Tucker of Exxon Mobil,
Daniel Roberts of Citigroup and Marshall Schwartz of Morgan Stanley. So, it’s easy to
see the Rothschilds, the Vatican/Jesuit networks, the Black Nobility bloodlines, and the
Pilgrims own most of the banking empire of the world. J. P. Morgan was one big banker
that worked for this network and promoted the railroad monopoly. He hated
competition. The House of Morgan was allied with the Kuhn Loebs, Warburgs, The
Windsor House, and the Italian House of Savoy. The Morgan banking empire spread to
promote imperialism and Iwasaki and Dan families - Japan’s two wealthiest clans - who
have owned Mitsubishi and Mitsui, respectively, since the companies emerged from
17th Century shogunates. When Japan invaded Manchuria, slaughtering Chinese
peasants at Nanking, Morgan downplayed the incident. Morgan also had close relations
with Italian fascist Benito Mussolini, while German Nazi Dr. Hjalmer Schacht was a
Morgan Bank liaison during WWII. After the war Morgan representatives met with
Schacht at the Bank of International Settlements (BIS) in Basel, Switzerland.
One of the biggest lies that reactionaries show is that they believe that Carter ruined the economy
and Reagan saved. The reality is that the Federal Reserve is largely responsible for the economic
downturn in the late 1970’s and the 1980’s not Carter. This inflation began to grow in 1965 for the
next 15 years because of the Vietnam War. The high inflation caused high oil prices in 1973 and
1979. Crop failures worldwide also influence the rise of prices of foods as well. During this time,
money inflation expanded and unemployment grew causing stagflation. The FED’s Volcker cut
the money supply in the nation during the early 1980’s and a recession came. Then, when the
threat of inflation ended in late 1982, Volcker cut interest rate and flooded the economy with
money. This caused the recession to end and fuel expansion for seven years. Carter and Reagan
didn’t have supreme control over the economy in those years. Unemployment in the final quarter
of 1982 was over 10 percent. Carter only rose federal taxes by a small 1.7 of the GDP (or the
Gross Domestic Product). Carter deregulated airlines and other industries in 1978. By 1980,
Carter was deregulating trucking, railroads, interest rates, and oil. Reagan of course ended many
government regulations, but worker productivity didn’t grow no faster in the 1980s than during the
late 1970’s. However, Reagan's tax cuts were passed in 1981, and were already in effect by 1982
-- but, as we have seen, 1982 was the year of the horrific recession. Tax cuts for the rich can’t
make strong economic growth since some of the rich just pocket the savings. During the New
Deal era (1933 to 1975), America experienced the greatest economic boom in history. The
laissez faire economic philosophy has caused a recession Great Depression. So, leaders came
to have a broad safety net for workers and the poor. Under FDR, the economic GDP grew in 5
out of 7 years from 1933 to 1940. America suffered no Great Depression from 1945 to 1975.
Even Republican presidents during the New Deal era promoted government activism in the
economy. President Eisenhower's interstate highway program connected an entire nation with
highways, and allowed middle class families to migrate from the cities to the suburbs. President
Nixon declared, "We are all Keynesians now," and created the Environmental Protection Agency,
the Food and Drug Administration, and the Occupational Safety and Health Administration. The
poverty rate by the 1950’s was in 20 percent and Johnson’s Great Society reduced it to an all
time low to 11.1 percent in 1973.







Greed was one motivating factor among some of the Wall Street crowd. Today, the
global elite use greed, violence, unjust hatreds, and tensions as their enduring agendas.
Their repeat of the 1929 economic crash that occurred in 2007 is causing new
challenging in the world. There are still workers dying, layoffs, income inequality, tax
dodges, currency inflation, war profiteering wars, and billion dollar bailouts for the
super rich. The U.S. corporations have taken in $1.659 trillion in the 3
rd
quarter of 2010.
This broke records according to a Commerce Department report. Still, the reactionaries
want to increase the military budget by $700 billion. They worship the military, the free
market, the flag, and stuff like that, but not the real Almighty God. As for me, I haveno
choice but to refuse to bow before Uncle Sam or Amerikkka. I don’t owe Uncle Sam a
single thing. Now, the elite used the Iraq War to steal Iraq’s oil, and the Patriot Act was
created to harm out Constitutional liberties. Now, some of meat, other types of foods,
and workers are poisoned by dangerous chemicals. Army units are being trained to
arrest American dissidents. Some oligarchs want to have a new world economic
structure. Fear mongering about terrorism, nuclear threats, and biological terrorist
attacks are coming onward in America too. Even the President pretends to call for
peace, yet he continues with the wars in Iraq, Afghanistan, military interventions (in
Pakistan, Libya, etc.), and the Pentagon budget has hugely grown. Constitutional
liberties in many circumstances have been obliterated. Also, the U.S. infrastructure is
being privatized in a rapid pace. War historically is one of the easiest ways for people to
get financial exploitation and war causes a huge profit making scheme among
international bankers. Scott Walker is engaging in class warfare on behalf of the rich, as
political sycophant of the Koch brothers. His attack on collective bargaining, and the
attacks of their reactionary political yes-men, is intended to erode the power of working
people to organize---an effort which, if successful, would leave the working people totally
at the mercy of the rich. No one is passing any laws preventing the rich from organizing.

The job crisis still exists in America. In America, we have the worse unemployment rate
since the 1930's. States now are cutting benefits to jobless workers. Cuts to unemployment
benefits are happening in Arkansas, Michigan, and Missouri. Florida, PA, and South Carolina
are prepared to do the same thing. Michigan and Missouri have cut the 26 usual weeks of
state financed unemployment payments down to 20. The Florida state legislature passed a
law that would cut benefits to as low as 12 weeks, which depends on the official
unemployment level in the state. These actions are evil, vindictive, and punitive measures.
They can threaten jobless families with destitution. This is a part of the global elite trying to
eliminate all social gains won by the working people of America. Austerity measures are
increasing in America like schools being closed, cuts to Medicare and Medicaid, the layoff of
hundreds of thousands of government employees on both the state and federal levels. This
can result even the most basic government assistance to cause people to be desperate to
get any job at any wage. 18 states and D.C. have an official jobless rate of 9 percent or more
in April. Real unemployment is much higher. 24 million people in America can't find work
or are working part time involuntarily. This is large than people in Chile, the Netherlands,
and twice the population of Cuba. About 5.8 million U.S. workers have been out of work
for over 27 weeks or more. Economists estimate that 1 million people lost all federal
unemployment benefits last year. This is after they have been unable to find work for 99
weeks. Almost 2 million people are among the 99ers. 58.5 percent of working age people is
employed. This is the lowest level since 1983. Unemployment have rise. We live in the post
war period. The gains we have had from since the Great Depression are in threat of being
gone like unemployment benefits, Social Security, etc. Domestic production of the economy
has decreased with globalization, and an increase of corporate profits. The elite don’t want
a real social program or efforts to end massive unemployment. This is why infrastructure
building, fairer tax laws that benefit especially the poor, and the ending of the war on terror
are keen solutions in order to get America on the right path of economic stability & political
improvements.
QE2 ended. QE stands for quantitative easing. It was the use of billions of dollars via
computer keystrokes to get long term government bonds. The government though
didn’t get the money. It went into the reserve accounts of banks where it is found today.
When it came into the reserve accounts of foreign accounts of banks, the Federal Reserve
is now paying 0.25 percent interest. There was QE1 before QE2. QE1 had the FED to buy
1.25 trillion in mortgage backed securities from the banks. This money too remained in
bank reserve accounts collecting interest and dust. The FED reported that the
accumulated excess reserves of depository institutions totally almost 1.6 trillion dollars.
The 1.6 trillion dollar figure is about the size of the federal deficit. This deficit is so huge
that some members of Congress want to force a default on the national debt if it’s not
corrected soon. So, the figure is equal to the federal deficit and it was created by the FED
being idle in bank reserve account. Ellen Brown believes that the quantitative easing
could stimulate economic growth if the money was earmarked for the purchase of
Treasuries that has been given directly to the Treasury (as it was done before 1935). The
law before 1935 was changed to require private bond dealers to be cut into the deal.
Brown believed that the QE2 reduced the interest tab on the federal debt. She mentions
that the long term bonds that the FED brought on the open market are interest free to the
government (since the FED rebates its profits to the Treasury after deducting its costs).
QE2 didn’t help the local credit market that smaller businesses rely.
These businesses have a huge role in building up new jobs. In a June 30 article in the
Wall Street Journal titled “Smaller Businesses Seeking Loans Still Come Up Empty,”
Emily Maltby reported that business owners rank access to capital as the most important
issue facing them today; and only 17% of smaller businesses said they were able to land
needed bank financing. The government could borrow directly from its own central bank
before the Banking Act of 1935. Other nations did the same like Canada, Australia, and
New Zealand. They prospered. After 1935, if the U.S. central bank desired to buy
government securities, it had to purchase them from private banks on the open market.
MarinnerEccels (a former FED Chairman) wrote that he wanted the requirement
removed that it was intended to keep politicians from spending too much. The law was
to give the bond dealer banks a cut as middlemen. The FED lost control of where the
money went. The FED used the money for its own purposes and the cash sat there
instead of the FED buying more bonds form the Treasury. The FED sold QE2 to the best
offers from U.S. based branches of foreign banks like BNP Paribas, Barclays, Credit
Suisse, Deutsche Bank, HSBC, UBS and others. Tyler Durden (a pseudonym) exposed
how foreign banks got the cash. The charts showed that after November 3, 2010, when
QE2 operations began, total bank reserves increased by $610 billion. Foreign bank cash
reserves increased in lock step, by $630 billion -- or more than the entire QE2. John
Mason (a Professor of Finance at Penn State University and a former senior economist at
the Federal Reserve) wrote that the monetary stimulus form the FED went into the
foreign Eurodollar market. To him, this is a carry trade. A carry trade dealt with foreign
branches of an American bank borrowing dollars from a home bank to create a
Eurodollar deposit. As a result, U.S. smaller banks have low cash assets. Smaller banks
are having trouble to loan credit to people. If little money is lent in American banks, then
the American economy will have difficulty growing. Foreign banks benefit foreign
economic domestic system. The velocity of money has imploded and there is a broken
money multiplier in America. Some people have used state owned banks in order to
create credit like the successful Bank of North Dakota (or BND). The BND services the
liquidity needs of local banks and allows credit to flow in the state. You need to
investment money to purchase goods and service to grow demand. Spending on goods
and services can grow jobs, create demand, and rebuild the tax base. Ron Paul wants the
FED to write off the federal securities purchased with funds created in its quantitative
easing programs. Some want the 1935 law repealed (this law forbids the FED to buy
Treasuries directly from the Treasury).
The era of President Barack Obama
What happened to President Barack Obama? He loved war mongering that lead into
killing mostly people of color worldwide (including black Africans by the so-called
“rebels” in Libya. The rebels are supported by the Euro/American imperialists of NATO).
He believes in compromises with reactionaries wolves. Also, even progressive voices of
dissent like Cornell West are being ostracized for their legitimate critiques of this man.
The President does nothing to fight against the evils of the Patriot Act, the USA Military
Commissions Act, the war on the Third World peoples (using drone attacks, torture aka
coercive interrogations, etc.), etc. He does little to nothing to address the same
neoliberal economic policies that he once condemned during his 2008 Presidential
campaign. He does nothing when the TSA is violating our rights, when Big Brother is
running amok in America, when population control measures transpire, and other
tragedies develop. Then, he expects us to support him like he’s a god. He is not God and
we have the right to dissent, to protest, and to advance real freedom (not some photo
op, bin Laden death parade being utilized to promote the Manifest Destiny 2.0 in
Amerikkka). Although, we shouldn’t slander or be very disrespectful towards President
Barack Obama though as the neo-cons have been doing for years. Slandering the
brother does nothing but to promote lies and make people to lie in the dirt of
deception. In other words, the truth speaks for itself and we should express it in a
cordial fashion. The only solution is the creation of a better system to benefit human
beings in general. We shouldn’t concern what the haters have the say or believe.
Certainly, we have to win the battle of economic warfare against us. If you want to win,
you have to use money, technology, and other real infrastructure to your advance. We
ought to only to do the right thing, treat human beings right, and live our lives
adamantly with zeal & vigor. Then, in the end, we will succeed and receive
our crowns.





It is easy to see that our immigration system needs to work for real and it needs to be
reformed. I agree with those that want real comprehensive reform and even some
Evangelical Christians are on the real immigration reform train. I oppose Arizona's
SB 1070. Obsolete immigration laws are not going to cut it in a demographically
diverse American society. Now, immigration reform should be strong and fair to all
human beings in America, especially citizens now living here that suffer
unemployment, poverty, and other socioeconomic hardships. This means that I
don't want undocumented workers to be placed in a superior economic and
political state in society as a naturally born American citizen. I don't believe in
immigration reform at the expense of workers here. The GOP is divided. Some
Republicans sincerely want a bipartisan immigration reform policy with compassion
and wise border security too. Others want the reactionary policy of self-deportation
and draconian laws that violate human civil liberties. I believe in compassionate
action toward immigrants whether they are U.S. citizens or not here (and have
legitimate border security in Canada and Mexico). It is important to help our
neighbor out and to assist foreign human beings since they are our neighbors too.
Immigrants now are from Africa, Asia, Europe, and throughout the Earth not just
from Mexico or Latin America. Illegal immigration has decreased radically since a
few years ago, so we don't have record illegal immigration in America at all now.
Tea Party members are divided on this issue. Some want immigration reform and
others don't. Wall Street Democrat and corporate Republicans are exploiting this
issue as a means to drive down domestic wages and weaken the trade political
union movement (instead of just focusing on giving human rights to immigrants).
Fundamentally, human beings need education and economic opportunities.
Xenophobia is out of the question when we deal with this complex issue. Without
immigration, America would surely have a huge demographic crisis as Japan,
Western Europe, Russia, and other parts of the world are experiencing in 2013. Real
immigration reform can cause America to meet the labor force necessary to handle
international economic growth in the 21st century.
There are an estimated 5 million children who were here and those under the real
parts of the Fourteenth Amendment would be U.S. citizens automatically. These are
the intended beneficiaries of the still-pending federal DREAM Act (Development,
Relief, and Education for Alien Minors), and of the twelve DREAM Acts which have
passed in states from Texas and California to New York and Maryland. This
legislation grants improved access to education and social services, and is long
overdue. There are millions of undocumented foreign workers in America now.
Those who are undocumented workers should have citizenship in a real process.
They can have access to social opportunities so national wealth can increase. This
can improve public health if they come out of the shadows and have checkups and
other forms of medical care. Politicians will protest about the short-term costs, but if
undocumented immigrants are kept marginalized, denied basic health care, shut out
from educational opportunity, and otherwise discriminated against, how can the
United States ever hope to keep pace on the world market? Yet, we still have
complex economic issues. We need an increased minimum wage that can benefit all
Americans.
Legalization will decrease the actions of corporate exploitation and harm if it is done
in the right fashion. The reactionaries are right that if a living wage won't occur in
conjunction to just legalization, then cheap labor, busting unions, and low wages
could increase. We had a peak of a federal minimum wage of about 12 dollars in
today's money in 1968. Many states have minimum wages which are already higher
than the federal norm, such as $8.60 per hour in Vermont, $9.19 per hour in
Washington, $8.50 per hour in Connecticut, and $8.00 per hour in California and
Massachusetts. Raising the federal minimum wage represents a decision to assign a
greater share of the national income to wages. The measures of immigration reform
and a national recovery program can do a lot to help all Americans. America is a
nation of immigrants. We have the right to be a high wage country. The GOP is
divided on this issue. Some Republicans sincerely want immigration reform. Other
Wall Street financiers want to use immigration as a means to drive down wages
and undermine collective bargaining. The more militant Republicans are filled
with the scapegoating or hatred of foreigners, which is called xenophobia. You
cannot solve this issue with self-deportation or domestic totalitarianism with police
state deportation by the police either. During recent years, the one million
deportations of immigration, the splitting up of families, etc. prove that the current
President is not for amnesty. The truth is that welfare is nearly destroyed by Bill
Clinton from 1996. We need to defeat poverty.








Words on African Leaders

There should be more great African leaders, but the question is what type of leaders should
they be? They should not be bourgeois puppets of Western imperialism. They should not
bow down before AFRICOM interests or the IMF (which loves parasitic capitalism). The evil
White House-backed, NATO war crimes in Libya (when terrorists killed black Libyan Brothers
and Sisters) show me how the Western political elite view Africa. So, Africans or any rational
human being should never ally with the agenda of imperialism. Real leaders ought to have
that revolutionary spirit like our ancestors had centuries ago. Historically, the revolutionary
African leaders decades ago fought European colonialism to gain their independence. Even
the Freedom Charter called for the fair redistribution of the wealth to help the poor and the
working class. A real leader would defend the aspirations and the rights of the poor, the
workers, and the oppressed without equivocation. Nelson Mandela was a freedom fighter.
He was jailed for his beliefs like Hano, Robert Mangaliso Sobukwe, and Steve Biko. Real
African leaders must also condemn neoliberalism & neocolonialism since those evil
philosophies are oppressive including exploitative. Therefore, real leaders (who are Brothers
& Sisters) must have the support of the masses of the people. Obviously, ebola is a deadly,
painful disease. Its first outbreak came about in 1976. This problem exists in multiple
nations, so African nations internationally should work together in containing the crisis.
Also, lax resources, lax infrastructure, and other issues are real in some parts of Africa. The
government of Liberia is dealing with a health emergency and that nation is doing what it
has to do in order for Liberia to protect lives basically. Therefore, mass poverty being
fought, the development of infrastructure, and the growth of medical treatment services
can contain the spread of the ebola crisis. I send my Kudos to Sheik Humarr Khan and other
leaders fighting back against the disease. RIP Sheik Humarr Khan.






















Appendix A: The Economic Crisis in Greece

Economics in 2011 deals with the revolt in Greece. The bankers have entrapped Greece with
debt and now the Papandreou government wants bailout help to pay bankers that have
entrapped them. Now some in Greece wants to raise taxes, sell off public land, ports, etc.
Greece’s land and facilities are being in risk of being sold. Greece is in the euro economic
system. Greece’s currency is devalued and exports are more competitive, have sovereignty over
its money to monetize its debt freely, and the EU can legislate fiscal policies to stimulate “growth.”
In May of 2010, the Papandreou agreed to austerity measures in return for loans. Now, the
government wants more authority or they will collapse the entire economy. This scheme was
done in Ireland and Portugal. It’s heading to Spain, a lot of Europe, and America. The deal is that
financial oligarchs want to use a financial coup d’état to control sovereign nations. Popular
opposition to these policies can make a difference not just street protests or short term strikes.
Former Wall Street broker, financial analyst, radio/TV host, and consummate critic Max Keiser
calls it “banker occupation.” The reason is that the bankers create the rules, set the turns, issue
the diktats, and bribe the governments to acquiesce, etc. The bankers burden households with
higher unemployment, higher taxes, and other austerity measures to benefit the oligarchs.
Hudson said that the European central planning concentrated financial power is in non-
democratic hands from inception under the ECB (or the European Central Bank). The 17
eurozone members have no elected government to levy taxes, the EU Constitution can’t bailout
government, and the IMF Articles of Agreement block it from giving fiscal support for budget
deficits. However, despite ample foreign exchange reserves, IMF loans are offered “because of
budgetary problems,” precisely what it’s not allowed to do. As a result, “when it comes to bailing
out bankers,” said Hudson, “rules are ignored” to save them and their counterparties from
incurring losses. And it works the same way in America under the Fed, dispensing open-
checkbook amounts to Wall Street on demand. This economic warfare by the big banks can get
land, infrastructure, wealth, etc. that will cause unemployment, poverty, demographic shrinkage,
capital flight, emigration, and lower life spans. Goldman Sachs in 2002 circumvented Euro zone
rules to borrow billions in return to mortgaging assets. They did derivatives too. The Papandreou
government had a 150 billion loan and they seek more austerity (like freeze pension, raise the
retirement age, cut bonuses, public sector 10 percent rate cuts, etc.). In fact, acting IMF
managing director John Lipsky (a former JP Morgan Investment Bank vice chairman) said no
opposition will be tolerated. So, people have the right to assert their national sovereignty against
privatization, austerity, and greater debt amounts.
The Greek Prime Minister George Papandreou falsely said that austerity is a patriotic duty. He
told his fellow countrymen that it’s their patriotic duty to accept the austerity plan cooked up by
the IMF and the EU. He said that Greece won’t get the fifth installment of an international bailout.
“I’m not asking you to listen to outside pressures, I ask that you listen to your soul and your
internal patriotic conscience,” Papandreou said. There are Greek opposition parties have rejected
demands by EU leaders for national unity on the prospect of unemployment, a lower standard of
living, and a massive giveaway of national resources. Alex Tsipras is the leader of the leftist party
called SYRIZA. He said that the Prime Minister can’t terrorize its MPs by referring to patriotism.
There is something that people should be proud of. In my mind, that is people in the streets
promoting real reforms. Opinion polls show that ¾ of the Greeks oppose tax rises, spending cuts,
and globalist privatization plus the selling off of national treasures. Greek union on Tuesday shut
down government services brought public transport to a standstill and grounded flights. Unions
have started their fourth general strike of the year at midnight. Greece’s biggest union is called
the General Confederation of Greek Workers. It has characterized the austerity measures as a
“mafia-style rescue.” “This proposed austerity package will only make things worse. It will mean
we are pushed deeper into recession and will never pay back our debts,” Zoe Lanara, the union’s
international relations secretary, told The Independent. Michael Hudson is a former Wall Street
economist. He said that the bailout will not help the Greek people, but the banks at the expense
of the people. “The Greek economy will not end up with the proceeds of any ECB ’bailout.’ The
banks will get the money. They would like to turn around and lend it out afresh to the buyers of
the land, monopolies and other properties that Greece is being told to privatize,” he writes. “Is this
not like military tribute? … The bankers are trying to get a windfall by using the debt hammer to
achieve what warfare did in times past.” Panpandreou and the political elite expect the Greek to
acquiesce and support the military attack on its country via the financial elite. Although, unions
and thousands of protests will close down the country and continue to resist euro zone
enslavement and the theft of their heritage by international finance.
*Many people have said that big banks are having warfare against human beings of the
world. This reality has been exposed by Michael Hudson. Hudson is a highly regarded
economist and is a distinguished research Professor at the University of Missouri,
Kansas City. He advised U.S., Canadian, Mexican, and Latvian governments plus the
United Nations Institute for Training and Research. He was a former Wall Street
economist at Chase Manhattan Bank. He set up the first sovereign debt fund. He said
that the European debt crisis is really financial warfare by the banks and the banks are in
warfare against the rest of society. He believes that what occurred in Greece will
happen to America in a couple of weeks. That remains to be seen. He is correct to
mention that the big banks are forcing their bad debts on governments and they want
to force governments to sell off national assets so the banks can install a neo-feudalism
(which Professor Carroll Quigley predicted in his literature). Professor Hudson said that
the elite banks want to get rid of New Deal Reform, Progressive Era legislation to cause
a feudal system (where regulatory agencies are gone and control of the world is done by
corporations, the wealthy, and city regions). Corrupt banks handed their toxic debt from
fraudulent act to nations and their people. The Big Banks looted wealth indeed. Even
trillions of the bailout went to the banks not Main Street and much of that wealth went
into foreign banks (just like most of the money from the 2
nd
round of quantitative
easing). Economic inequality contributed to the Great Depression. This economic
inequality is opposed by people from across the political spectrum.



Appendix B: The U.S. Debt Ceiling Issue

The debt ceiling crisis is still here. The President said that he won’t resort to other powers
open to him if the debt ceiling plan won’t go forward in compromise. This is strange since
you can’t leave troops unpaid and without supplies, Social Security checks can be unsent,
and the U.S. dollar could collapse. The credit rating of the U.S. can be destroyed if the status
quo remains. The 14
th
Amendment, national security directives, and executive orders are on
the books that can be used by President Obama to set aside the debt ceiling. These acts are
going on. Still, there are reactionaries that want cuts in the social safety net since they hate
it. Some fear that the President will compromise again and submit to the Republicans’
demands to have only cuts in Social Security and the social safety net (in exchange to fund
the troops). If he does this, he will say that he had no choice but to submit to the demands.
It is better to have the elderly with groceries than to have a war on terror. It is better to
fight against dollar devaluation than tax cuts for the rich solely. This circus is used by Tea
Party activists and numerous Republicans in order to get rid of the New Deal and the Great
Society (and use money to be spent on wars, bailouts, and tax cuts for the rich). On July 15
S&P put all AAA-rated insurance companies on CreditWatch citing ties to the US sovereign
credit rating. On July 25, the US dollar fell to a new low against the Swiss franc, and gold
reached a new high. Some more of this and the public will see benefit cuts as preferable to
economic Armageddon. There is still the August 2 deadline. We don’t need radical cuts to
Social Security, Medicare, and education, so Wall Street can privatize these entities. We
have to have policies that benefit the American people. The reactionaries omit how Iran
Contra, the war on Drugs, NAFTA/GATT, and other policies contributed to the economic
straights we witness today. That is why populists legitimately want to end all imperial wars,
end the bailouts for Wall Street, prosecute fraud and get their ill gotten gains, end the Bush
tax cuts (that Ronald Reagan’s budget director David Stockman even says was the worst
fiscal mistake in history), and cut spending (that relates to loopholes, some subsidies, and
anything legitimate that doesn’t directly harm the middle class and the poor). There should
be a jobs creation program, an infrastructure program, and other economically populists
policies as well.

The American Empire is falling. There has been hysteria over the debt crisis issue. The
mainstream media is promoting this hysteria constantly. America still has the largest nuclear
arsenal on Earth and this concerns people. Both parties have raised the debt ceiling in times
before. Now, it’s turned into a crisis that threatens the world financial system. The President can
fund wars with a Direction 51 to declare default a national emergency and set aside the debt
ceiling limit (and Congress’ power of the purse) to issue the debt. The economy isn’t rising. The
public debt is rising to fast against U.S. GCDP and this is below the percentages during WWII.
The problem is that the debt is rising relative to the economy because the economy isn’t rising
and war expenditures are. Our economy isn’t growing since our economy has been off shored to
foreign nations. U.S. GDP is growing more in China, Indonesia, and other nations (not that much
in Silicon Valley, Detroit, Gary, Indiana, St. Louis, and other U.S. places). Manufacturing, labor,
and professional services are hired below U.S. rates in foreign nation. Off shoring causes U.S.
GDP, consumer income, career opportunities, and the tax base to leave America. This is done
while corporate profits, bonuses, etc. grow due to lower labor costs. This existence is good for
Wall Street, corporate management, corporate shareholders. When the elite’s income goes up,
the GDP goes down along with the employment opportunities of Americans and the tax base for
government. The deregulation of our financial system is another destroyer of the American
economy. In our time, it’s been fully exposed that the markets aren’t self regulating and greed is a
problem. Greed was one contributing factor to our present recession. Some of these deregulation
policies have been promoted by Federal Reserve Chairman Alan Greenspan and the Wall Street
owned U.S. Treasury. There are people like Brooksley Born. He was empowered by U.S. law to
regulate derivatives. He was driven out of office by the Federal Reserve Chairman, the U.S.
Treasury Secretary, and the Securities and Exchange Chairman. Financial institutions freed from
Glass Steagall are freed from capital requirements (and oversight) immediately to the debt
leverage on unrealistic bets in big heights. When these acts failed, the FED lent the U.S. and
foreign banks 16.1 trillion dollars. This is equal to larger than the national debt and larger than the
U.S. GDP. A stroke of computers caused the FED to lend the 1.6 trillion dollars. The Federal
Reserve form 16.1 trillion dollars in new loans for private banks, they bailed out banks. These
same banks bulldoze the foreclosed homes of evicted Americans. Americans are thrown out of
their homes, so banks can be given bailouts. Americans are made homeless just like those in
Afghanistan, Pakistan, Iraq, Yemen, Somalia, and Libya via Western policies. The military and
security budget is now 75% of the U.S. budget deficit. The costs of these wars are more than the
planned future savings from the debt limit deal. The costs of wars are going up and it causes
homelessness. Republicans are not concerned about cutting back the 1.2 trillion dollar military
security budget or by even slighting raising the low tax rates on the super rich. The U.S. now is
going exercises near China, the Philippines, Eastern Europe, Africa, etc. We have economic
issues, so we shouldn’t have military exercises in Mongolia or Central Asia. We should solve our
poverty problems where without increasing massively military expenditures. Even Warren Buffet
said that his tax rate on his massive income is lower than the tax rate on his secretary’s income.
Some Republicans want to fund this war by cutting programs left and right. Even if all the cuts
actually happen, the weakening economy will result in new deficit projections that will wipe out the
expected savings from the debt limit agreement. The only solution is a restructuring of our
economic system to reward growing businesses here without outsourcing, a fair tax system,
ending the war on terror, and a progressive financial reality in America.



Appendix C: The 2012-2013 So-Called Fiscal Cliff

Now, the mainstream media is in league with the corporatists. Most of them want some
austerity measure under the guise of the so-called "fiscal cliff" (which some feel will
slowly increase taxes and cut spending automatically by 2013. It's not really a fiscal cliff, but
a gradual declining slope). This proves to me that the mainstream media is mostly reactionary on
economic issues. The fiscal cliff propaganda is utilized by some as a means for the establishment
to promote a Bowles-Simpson economic agenda. The good news is that we on our side have
anti-austerity groups nationwide. This anti-human agenda of austerity could potentially cut Social
Security, Medicare, Medicaid, and other enriching social programs that legitimately help the poor
in our society. The reality is that the "fiscal cliff" paranoia was created by the 1 percent as a
means to economically harm the middle class and the poor under the guise of fiscal
responsibility. Also, we have tried radical cuts for the wealthy and these plans don't work to
massively improve the economy at all. The Blue Dog Democrats are just as wrong as the extreme
Tea Party Republicans (who view even one cent of spending as a sin, which is a pure lie). The
next struggle in this human rights movement is to stop austerity once and for all. Taxing the
wealthy along with other solutions can help our economy indeed regardless of what CNN's
Costello says. Social Security has nothing to do with the deficit and Social
Security shouldn't be cut at all. Now, there are many alternatives to austerity. There is a
progressive, fair plan to grow our economy and handle our finances indeed.

Senator Bernie Sanders and others have proposed solutions like the following:

*We can repeal the Bush tax cuts for the rich
*We can establish a millionaires' surtax,
*We can end tax breaks for overseas outsources,
*Making our tax code more fair and more streamlined (or less complex)
*We can end Big Oil and gas tax breaks.
Other solutions are to:
*End the abusive offshore tax shelter
*We can establish a speculation fee for Wall Street (or a tax on Wall Street),
*There can be tax capital gains and dividends,
*We can create a progressive estate tax.
*There should be an end to wasteful Pentagon spending
*Medicare drug prices can be negotiated
*There can be a fee for currency manipulation and
*We can end all forms of government waste, fraud, and abuse.

We can do these things and more to close up to 5 trillion dollars in five years. Even something
simple like an emergency deficit reduction surtax on millionaires (or a tax on adjusted gross
income of more than 1 million dollars would raise over 383 billion over 10 years according to the
Joint Tax Committee). A February 2011 NBC/News Wall Street Journal poll said that 81 percent
of the American people support the creation of a millionaires surtax as a means to reduce the
deficit. The President is correct to promote higher taxes on the wealthiest Americans, but we will
see if he will compromise too much on other specifics. Now, regardless of what the reactionary
Mike Adams says, spending more than one cent that can be used for investment, technology,
helping the poor, building up our infrastructure, etc. is not immoral. Also, the tax and spend policy
of FDR created an economic boon that spread unto decades after the end of WWII. Real,
directed monetary spending is not evil at all. Free market fundamentalism doesn't work and we
have tried it before. Not every regulation is evil and we need some regulations to stop pollution,
handle diseases, and to end child labor. Most Americans reject that idea of Austrian economics.
It's not about big or small government. Private jobs and government jobs (in the realm of
education, health, public services, etc.) are beneficial as a means to grow the economy
irrespective the health writer Mike Adams proclaims. We live in new era where scapegoating the
poor and lusting for the bad old days is nonexistent. It's about us having the right to promote
efficient government that can protect individual freedoms and promote the general
welfare of society. Spending money is only part of the solution, but cutting necessary
spending is as evil as the military industrial complex. A Social Darwinist version of capitalism
is just as wrong as austerity too. That is the quintessential issue. We have to end the culture of
greed and promote a culture of tolerance & a concern for the general welfare of the people.

By Timothy

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