For the past few days, the Fed has been trying to avoid a financial tail spin in the stock markets as the real estate market continues to crash.
But, what really is going on?
It's not just a failure in the real estate market.
What we are witnessing is a systemic failure in our entire financial system.
WHY?
Quite simply -
And there never will be.
Because ours is a debt-based financial system PLUS interest.
And interest is NEVER issued.
It's only charged.
As a result, the Fed must continually pump "new money" into the economy just to keep it solvent.
Where does all that money go?
Into real estate.
Into stocks.
Into bonds.
Into all sorts of commodities.
Into ANY legal instrument concocted - no matter how exotic - that promises to "yield" a profit.
The trouble is - the more money they pump into the system, the higher the prices climb.
The higher the prices climb, the more money needs to be pumped into the system to keep it running - and to keep its "value" afloat (long enough for the kingpins to bail out, taking the value with them).
And so on and so forth until the whole system reveals itself for what it really is - a path to self-destruction.
Americans will never rid themselves of this financial tyranny until they learn how to pinpoint the source of the malignancy - interest and speculation (aka, usury and gambling) - fueled by a private banking cartel.
Those two practices have destroyed civilizations before us and they are destroying us now.
God warned us all about them - but, who will listen.
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RELATED: asking VAMPIRES to donate BLOOD
Submitted by qrswave on Fri, 2007-08-10 18:52
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Money is the root to ALL that is evil. We are like a dog eating its own leg.
This article on "The Secret World of Central Banks".
83-year old fiscal analyst Richard Russell's statement couldn't be truer:
Earlier this year, Ron Paul was bold enough to rebuke Federal Reserve chairman Ben Bernanke that the Federal Reserve amount to total fraud at the Congressional hearing. Very brave, we haven't seen such a courageous politician taking on the Fed since JFK when he signed E.O. 11110 which may have sealed his fate.
If Paul wins the GOP straw polls and primaries against the odd, he must increase security detail. Central bankers' collective ego is lust for control of credit as power brokers.
--
My blog Last Throes of US Empire
The statement is:
LOVE of money is the root of all evil. Not money itself.
The Chargers, The Glorious Quran
In the name of Allah, the Beneficent, the Merciful.
[100.1] I swear by the runners breathing pantingly,
[100.2] Then those that produce fire striking,
[100.3] Then those that make raids at morn,
[100.4] Then thereby raise dust,
[100.5] Then rush thereby upon an assembly:
[100.6] Most surely man is ungrateful to his Lord.
[100.7] And most surely he is a witness of that.
[100.8] And most surely he is tenacious in the love of wealth.
[100.9] Does he not then know when what is in the graves is raised,
[100.10] And what is in the breasts is made.apparent?
[100.11] Most surely their Lord that day shall be fully aware of them.
this is actually the story linked in the post above - "kingpins to bail out..."
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08/08/07 - 09:50 AM EDT [over a year ago!!!]
BOSTON -- Wall Street bank Bear Stearns (BSC Quote - Cramer on BSC - Stock Picks) is right at the heart of the subprime mortgage meltdown. It's reeling from massive, multibillion-dollar losses at two hedge funds.
And every investor who has watched the stock collapse from more than $172 to just $117.78 in a few months is probably kicking himself for not selling at least some back at the peak, before the crisis hit.
Four savvy investors did just that.
Step forward, Alan Greenberg, Sam Molinaro, James Cayne and Warren Spector.
Who are they?
Top honchos at ... Bear Stearns. (Or they were: Spector has now left in a management shake-up. The others remain.)
Between them, the four quietly cashed out more than $57 million worth of company stock before the crisis hit.
The executives saved themselves nearly $16 million by their astutely timed sales, which were disclosed in a series of public filings.
Those losses got passed on to the unlucky outside investors who bought the stock.
Bear Stearns declined to comment.
These executives did nothing wrong. Many of the stock sales were made as share options came due at the end of 2006. Certain executives had made similar big trades in previous years. The trades were made several months before problems surfaced at the company's hedge funds in May.
Furthermore, Bear Stearns executives are still holding plenty of stock in the company.
Nonetheless, their timing last winter was notable for its good fortune, if nothing else. Once again it shows that company insiders seem to prove pretty good at knowing when their own stock is overvalued and when the future risks do not justify the price.
read more... [warning: page is as slow as hell - that's why i copied and pasted first page - couldn't get to the second]
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"Money" has no value - people do.
That has always been the configuration of economics and will certainly, remain in a similar formulation for the forseeable future.
There is a lot to be said for those who call for workers to control the means of production and the cessation of the speculative arts - the gambit of their apparitions.
But please keep this between us and don't tell anyone I said these sanctimonious sacriligious utterances before I'm labelled, tried and convicted as a terrorist or even worse ridiculed as a bleeding heart liberal communist!