by Jim Kirwan
The conspirators of Jekyll Island finally got the Meltdown that their secret
little meetings were created to achieve. The story is called "The
London Connection" by Eustace Mullins, and it is about how
"The FED" was very secretly created. (1)
What am I talking about?
The Federal Reserve Bank is not "Federal," it is
a privately held central bank; one of the twelve international private
central banks that now control the money supply for the planet. The recent
events that have "hit" the United States, were planned and carried out as
part of this takeover that was the reason the FED was created in the first
When the so-called government asked the FED to step in and takeover AIG,
they were actually inviting a private bank (masquerading as part of the
Federal government) to take 80% of the targeted Insurance giant' and in
exchange the Fed decided to dump the shareholders and save the gamblers that
created this mess in the first place. So the "banks" will get the profits
and the bailout while the public gets the shaft-again!
Washington Mutual and Wachovia are both up for sale and Morgan Stanley is
"having conversations," as of tonight! This financial tsunami is just
beginning, and the key player is still wearing its mask that is intended to
disguise its true purposes!
The real problem with all of this is that most Americans are still unaware
of the true nature of the Federal Reserve Bank and how it came to be called
by that name even though it prints our money; it is still not a part of the
On Democracy Now this morning:
As of this morning:
"The unprecedented run of events has altered
the shape of Wall Street and brings the total amount of government
rescue efforts to stabilize the financial system and housing market to
about $900 billion."
Nomi Prins, former investment
banker turned journalist. She used to run the European analytics
group at Bear Stearns and is now a senior fellow at Demos. She is
the author of two books: Other People’s Money: The Corporate Mugging
of America and Jacked: How Conservatives Are Picking Your Pocket.
"In AIG and in Lehman and with Merrill and
every other company on Wall Street that has faltered or is faltering,
it's about taking on too much leverage and borrowing to take on the risk
and borrowing again and borrowing again, twenty-five to thirty times the
amount of capital, the amount of money that they had to basically back
the borrowing that they were doing. Human regular borrowers cannot do
this. This is something that is an item only of the banking industry.
And not only was all that borrowing happening, but there was no
transparency to the Fed, to the SEC, to the Treasury, to anyone who
would have even bothered to look as to how much of a catastrophe was
being created, so that when anything fell, whether it was the subprime
mortgage or whether it was a credit complex security, it was all below a
pile of immense interlocked, incestuous borrowing, and that's what is
bringing down the entire banking system."
"You had at the beginning of the show, McCain saying that this is the
result of fraud and incompetence. The government has now bailed them
out. But by bailing them out-Wall Street was coming to terms with the
bad debts. When Bear Stearns went under and when Lehman Brothers went
under, this began to wipe away the bad debts. And when the debts exceed
the ability to pay, there's only one thing any economy can do, and
that's wipe them out.
Instead, the government is trying to keep the fiction alive. And what
Paulson did yesterday, in bailing out AIG, was to try to lock in whoever
is the next president not only to further bailouts of Wall Street,
ostensibly to protect the public money, but to make it impossible to
write down the debts of the four million homeowners that are expected to
default this year, impossible to write down the debts of companies that
have issued junk bonds, impossible for the country to get rid of this
excess of debts that can't be repaid.
And you're having really a war now of
creditors against debtors. And this is what Wall Street has been
preparing for. It needed an emergency to do it. It's really not an
emergency at all. This has been building up for many years. Everybody
And breathlessly now, the Secretary of
Treasury has done it."
Michael Hudson, President of
the Institute for the Study of Long-Term Economic Trends,
Distinguished Research Professor of Economics at the University of
Missouri, Kansas City, and author of Super-Imperialism: The Economic
Strategy of American Empire. He is the chief economic adviser to
Rep. Dennis Kucinich.
"The government has no adequate statistics
on what the value of real estate is; what the amount of debt is, because
if it did have statistics - it would show that the volume of debt is far
in excess of the debtors (ability) to pay and when you have that, you
have to do something about it!
Graham (Senator Phil Graham, McCain's top advisor) has
said 'don't collect statistics because if you know how these guys are
making money they are going to pay taxes on it; and if you don't look at
what they're doing - if you let them do it through offshore vehicles -
and you let them all bury everything then they're not going to be taxed
and that is his (Graham's) constituency: Untaxed, financed and then to
shift it all to labor and industry. (2)
Democracy Now - The AIG Collapse
The major media outlets are minimizing the
costs (lying about the true costs), and attempting to paint this as just
another two minute story. The world markets are reacting, Russia's
exchange did not open today because it lost 17% of its value yesterday,
and the rest of the planet is beginning to reflect what is going on here
because the central banks are controlling what is beginning to happen
If this outrage doesn't get the attention of all those slumbering
yuppies and yahoos in America that can't be bothered with "politics"
then maybe they ought to begin sleeping in their coffins so that when
the time comes their loved ones can just nail the lid shut and be done
Remember, according to McCain 'this
election is not about issues, it's about personalities.'
I don't know about you but between the eight years of illegal wars that
have killed millions of people, the total failure of the thugs in power
to control any aspect of this government or our policies anywhere hell
they can't even run rescue efforts during national disasters, just ask
anyone that's been affected-plus the fact that they have yet to keep a
single promise they ever made to any of us about anything.
So 'let's not talk about the issues,' let's
just ignore politics a bit longer until there is nothing left to
discuss-the Meltdown will take care of everything else..."
The London Connection Eustace
Democracy Now Sept. 17, 08
Russia's Micex Index Falls Most Ever;
Exchanges Suspend Trading