Ron Paul on Glenn Beck: Destruction of the dollar

Ron Paul: “Foreign policy is dictated by individuals who control both the Republican and the Democrat party”

The same individuals – the elite – who control the government also control Wall Street and the Federal Reserve. Obama is just a puppet:

“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honorable and incorruptible American president.”
– Franklin D. Roosevelt

“Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.”
– Andrew Jackson

“When the President signs this act [Federal Reserve Act of 1913], the invisible government by the money power — proven to exist by the Monetary Trust Investigation — will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”
– Charles A. Lindbergh, Sr.

“I am a most unhappy man. I have unwittingly ruined my country [by signing the Federal Reserve Act of 1913]. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”
– Woodrow Wilson

21. Januar 2009
Source: YouTube

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
– Henry Ford

“I believe that if the people of this nation fully understood what Congress has done to them over the last 49 years, they would move on Washington; they would not wait for an election… It adds up to a preconceived plan to destroy the economic and social independence of the United States!
– George W. Malone

“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, hereinafter called the FED. They are not government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers.”
– Louis McFadden

“It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. … The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.”
– Louis McFadden

“I am myself persuaded, on the basis of extensive study of the historical evidence, that… the severity of each of the contractions – 1920-21, 1929-33, and 1937-38 – is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements.”
– Milton Friedman

“The high office of the president has been used to foment a plot to destroy America’s freedom, and before I leave office I must inform the citizens of this plight.” (November 12, 1963)
– John F. Kennedy (Date of Kennedy Assassination : November 22, 1963)

“Capital must protect itself in every way… Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.”
– J. P. Morgan

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan

“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes

“Give me control of a nation’s money and I care not who makes the laws.”
– Mayer Amschel Rothschild

“I care not what puppet is placed on the throne of England to rule the Empire, … The man that controls Britain’s money supply controls the British Empire. And I control the money supply.”
– Baron Nathan Mayer Rothschild

“The best time to buy is when blood is running in the street.”
– Baron Nathan Mayer Rothschild

“What good fortune for governments that the people do not think.”
– Adolf Hitler

“I wouldn’t go to war again as I have done to protect some lousy investment of the bankers. There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights. War for any other reason is simply a racket.”
Major General Smedley Darlington Butler

“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul

Since the government cannot easily increase taxes indefinitely to finance the deficit, it will turn to the Fed, who will turn on the printing press to buy Treasuries. This will create pure inflation and the banksters call it quantitative easing.

So Obama is really the worst case scenario for the economy and the best friend of the banksters.

Jim Rogers: If Obamanomics happens it’s all over

Jim Rogers: Obama administration run by people who caused the latest financial problems

Paul Craig Roberts On The U.S. Leadership: “They Are Criminals” – The Potential Here Is Far Worse Than The Great Depression

‘Truth is treason in the empire of lies’
‘Let the revolution begin!’
– Ron Paul

Treasury secretary nominee Geithner apologizes for not paying taxes

Paul Craig Roberts On The U.S. Leadership: “They Are Criminals” – The Potential Here Is Far Worse Than The Great Depression

Jim Rogers: Obama administration run by people who caused the latest financial problems:
“These people don’t know what they’re doing,” he said.

Treasury secretary nominee Geithner apologizes for ‘avoidable mistakes’ on taxes

He provides more details on unpaid taxes to the Senate Finance Committee. A confirmation vote could come as soon as Thursday.

Reporting from Washington — President Obama’s Treasury secretary nominee, Timothy F. Geithner, apologized to senators Wednesday for failing to pay $34,000 in self-employment taxes while he was working at the International Monetary Fund.

“These were careless mistakes. They were avoidable mistakes, but they were unintentional,” Geithner told the Senate Finance Committee. “I should have been more careful. I take full responsibility for them.” Geithner paid the taxes after an Internal Revenue Service audit uncovered the omission.

The controversy, especially relevant because Geithner would oversee the IRS if confirmed as head of the Treasury Department, is unlikely to derail his nomination. As president of the Federal Reserve Bank of New York, Geithner worked closely with the Bush administration in dealing with the current financial crisis and is widely viewed by Republicans as well as Democrats as the most qualified candidate for the job.

A vote on his nomination could come as soon as today.

Read moreTreasury secretary nominee Geithner apologizes for not paying taxes

Global Economic Crisis Accelerating

Jim Rogers: ‘UK has nothing to sell’ (Financial Times):
“The City of London is finished, the financial centre of the world is moving east.”

Jim Rogers: Obama administration run by people who caused the latest financial problems (BBC News)

The Obama Stimulus Plan Won’t Work (Lew Rockwell)

(Even Mr. Ambrose Evans-Pritchard is now alarmed!)

King paves way to start Bank print presses (Times Online)

Sterling hits 23-year low against dollar (Financial Times)

Geithner pledges ‘dramatic’ action (Financial Times)

Portugal says S&P downgrade due to global crisis (Reuters)

Singapore Economy May Post Biggest Decline on Record (Bloomberg)

Emerging markets face $180 bn investment decline (Business Standard)

French government to pump €6bn into ailing car industry (Guardian)

Japan’s ‘Severe’ Recession May Last Three Years, Yoshikawa Says (Bloomberg)

BHP Billiton to cut 6000 jobs and close mine (Times Online)

Eaton to Cut 5200 Jobs in a 2nd Wave of Reductions (Bloomberg)

Record redundancies push unemployment to 1.92 million (Times Online)

Ecuador to Cut $1.5 Billion in Imports to Defend Use of Dollar (Bloomberg)

Ex-Scots bankers could face Holyrood inquiry (Times Online)

Ireland’s Banks Sink With Decline of ‘Celtic Tiger’ (Bloomberg)

Patrick Rocca, ‘poster boy’ of Ireland’s Celtic Tiger, kills himself (Times Online)

Bankers accused in crisis could face trials in US (Guardian)

Hedge Fund Run by Ex-Car Salesman Is Scam, SEC Says (Bloomberg)

Federal Home Loan Banks may have to borrow from US (Los Angeles Times)

Merrill Clients Pulled $10 Billion in Fourth Quarter (Bloomberg)

Standard Life investors demand compensation after ‘cash’ fund invests in toxic debt (Telegraph)

Toyota Tops GM in Global Car Sales in 2008 (Washington Post)

Citigroup Makes Stock Incentive Awards to Executives (Bloomberg)

Jim Rogers: Obama administration run by people who caused the latest financial problems

Obama’s economic team attacked

President Obama’s financial team face instant tough decisions

One of the world’s best known investors has attacked the record of President Obama’s nominee for Treasury Secretary, Timothy Geithner.

Jim Rogers, a former partner of George Soros, told the BBC that the new administration was “run by people who caused the latest financial problems”.

He said Mr Geithner and Larry Summers, due to head the National Economic Council, have been wrong for 15 years.

“These people don’t know what they’re doing,” he said.

Related article: Geithner pledges ‘dramatic’ action (Financial Times)

Mr Rogers is highly influential in the financial markets.

Read moreJim Rogers: Obama administration run by people who caused the latest financial problems

Max Keiser on the Obama economic team; Global Banking System is still on the cusp of a massive implosion

Max Keiser’s appearance on Aljazeera English on November 24, 2008 as Obama announces his economics team including Tim Geithner and Larry Summers.

Max discusses whether Obama can do anything to rescue the financial system that has already had $7 trillion showered on it. And whether or not the Chinese will continue to finance America’s increasing debt needs.

Finally, will there be a devaluation of the US dollar?

Source: YouTube

Billions more wiped off Citigroup shares

  • Market jumps on hopes of new treasury secretary
  • Boost fails to help US banking giant

Wall Street ended a volatile week with renewed confidence last night, after reports that Barack Obama has chosen Timothy Geithner, the head of the New York Federal Reserve, as his treasury secretary.

As speculation mounted over Geithner’s nomination, shares rebounded. The Dow Jones industrial average recorded a 494-point gain on the day as stocks surged by 6.5% to close above the psychologically important 8,000 level at 8046.42. It was still 5% down for the week, however, as worries persist about the global economic slowdown.

Geithner, 47, has always been a favourite to take the top job and his appointment is expected to be announced by the Obama camp in the next 24 hours.

Banking stocks still suffered, though, despite the market’s abrupt recovery.

Citigroup, once the world’s biggest banking group, saw another $5bn (£3.35bn)wiped off its value after an emergency board meeting failed to come up with any initiative to stem the unprecedented flight of investors. Shares fell to $3 after the bank’s chief executive, Vikram Pandit, ruled out selling its retail stockbroking arm, Smith Barney, in an attempt to stop the rout.

Shares in Citigroup have lost more than half their value this week since Pandit announced plans on Monday to sack 52,000 workers. Measures by the bank and its biggest investors to reverse the share price decline, from a level of $54 two years ago, have all failed.

However, a Citigroup source within Pandit’s inner circle, defended the bank last night, saying the sinking share price “has nothing to do with our viability”. The source added that it was of no consequence if the price fell to zero.
(Obviously an expert!…)

“This is all about market perception,” she said, claiming that the market was wrong. “We are the same as everybody else. Our stock price is declining but so is everybody else’s.”
(…and a great observer too!)

Read moreBillions more wiped off Citigroup shares

US will guarantee up to $1.4T in bank debt

WASHINGTON: Federal regulators will guarantee as much as $1.4 trillion in U.S. banks’ debt in a bid to get the distressed financial system pumping again. They also took steps to make it easier for private investors to buy failed banks seized by the government.

Against a bleak economic backdrop, news that New York Federal Reserve President Timothy Geithner is President-elect Barack Obama’s choice for Treasury secretary gave battered Wall Street a shot in the arm Friday. The Dow Jones industrials zoomed nearly 500 points as stocks erased roughly half the losses racked up the prior two days. Investors have been seeking a clear message from Obama on who will lead his economic brain trust during the financial crisis.

Directors of the Federal Deposit Insurance Corp. voted to approve the bank-debt guarantee program, which is part of the government’s financial rescue package. The FDIC program is meant to break the crippling logjam in bank-to-bank lending by guaranteeing the new debt in the event of payment default by the borrowing bank.

Some analysts have said that freeing up bank-to-bank lending with the guarantees won’t necessarily translate into a thaw in broader lending as banks are still wary of making loans to businesses and consumers.

Read moreUS will guarantee up to $1.4T in bank debt