Mar 10 2012

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Fraudsters and Banksters


“It is well that the 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

“For more than a century, ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure – one world, if you will. If that is the charge, I stand guilty, and I am proud of it.” — David Rockefeller – From Rockefeller’s “Memoirs”

“The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the government ever since the days of Andrew Jackson, and I am not wholly excepting the administration of W.W. (Woodrow Wilson.) The country is going through a repetition of Jackson’s fight with the Bank of the United States only on a far bigger and broader basis.” Franklin D Roosevelt

As the year 2010 began, citizens around the world were still in shock and anger, appalled at the arrogance and collusion of their government leaders and the audacity and greed of the world Banksters, as bonuses in excess of 100 million dollars were given to several Wall Street executives and their subordinate employees, who were responsible for the economic collapse of 2009. These bonuses were paid for by the American taxpayers. Employees of Goldman Sachs, who were the greatest culprits in the fraud of the Sub Prime Mortgage Backed Securities fraud were so frightened by threats of hatred from the American People towards them that extra security measures were taken at the firm and employees were advised to buy weapons. The U.S Congress in its fear of bodily threats from their constituents, once the bonuses were announced by the media, called for a Claw Back Bill that would tax all Wall Street bonuses at 90%. This bill never cleared the House or Senate and was quashed by the Obama Administration due to the great influence of Goldman Sachs, who’s former CEO and the creator of the Sub Prime Mortgage Backed Securities and Derivatives Plan which caused the collapse was none other than Hank Paulson, G.W Bushs Secretary of the Treasury. Also Goldman Sachs was the largest individual donor to the Obama Presidential Campaign and many of Obamas chief financial advisors were and are former Goldman Sachs executives and lobbyists with large financial stakes in the continued solvency of Goldman Sachs. Americans were outraged over the fraud involved in the financial bailouts of major banks and corporations in the U.S and Europe, that supposedly protected the collapse of the world economy, and nationalized the ownership of several of Americas largest corporations, AIG, General Motors and Chrysler. The fraud involved with TARP has been proven by numerous financial and legal experts, news reports and a newly released highly acclaimed, independent documentary entitled “Inside Job”. Allen Greenspan the former chairman of the Federal Reserve has gone on record as stating that a great fraud was committed by the Wall Street banking and investment community. Bankster executives from Goldman Sachs, JP Morgan, Bear Sterns, Merrill Lynch, Lehman Brothers and many others of their ilk were found guilty of, but not punished for outright fraud, by investing against the exact same investments they were selling to the general public.

Instead of legal prosecution and punishment, they were given a congressional slap on the wrist and kissed with trillions of dollars of taxpayer money, awarded to them by TARP and the financial rigging by the Federal Reserve with their lending 3.3 trillion dollars of U.S dollars to foreign banks without the approval of Congress. The following excerpt is from an article published by Financial Times on 12/12/10. By Robin Harding and Tom Braithwaite in Washington and Francesco Guerrera in New York

“European banks took big slice of Fed aid”Foreign banks were among the biggest beneficiaries of the $3,300bn in emergency credit provided by the Federal Reserve during the crisis, according to new data on the extraordinary efforts of the US authorities to save the global financial system. The revelation of the scale of overseas lenders borrowing underlines the global nature of the turmoil and the crucial role of the Fed as the lender of last resort for the worlds banking sector.

However, news that banks such as Barclays of the UK, Switzerlands UBS and Dexia of Belgium borrowed billions of dollars at favourable terms from US authorities may further anger critics already enraged about the Feds rescue of Wall Street&. When Ben Bernanke, Federal Reserve Chairman, was brought before a televised congressional hearing to answer for his rash actions, he stated that he could not tell anyone where the money was sent to for fear of a worldwide financial collapse. The Congressional Finance Committee reluctantly accepted his answer and no more was said about the theft of two trillion U.S dollars. Banksters around the world received extraordinary bonuses by the Federal Reserves theft of the U.S taxpayers. Also the TARP Bill passed by the House and Senate and approved by then President G.W Bush and President Elect Barack Obama did not stipulate who the recipients would be of the TARP monies or declare what the money they received was to be used for. It was later discovered that over one billion dollars was awarded in bonuses to Wall Street banksters. A law suit was filed by Bloomburg in 2008 for full disclosure of the TARP recipients, so far as of 11/2010 there has been no formal mention of the status or outcome of that law suit. The estimated cost of the entire financial bailout as of July 21, 2009 reported by the Associated Press and MSNBC .com was 24 trillion dollars. It was also reported in an article by Paul Watson on Prisonplanet.com that Henry Hank Paulson G.W Bushs Treasury Secretary was, &one of the chief architects of the bailout and the man who committed financial terrorism by threatening the Congress with martial law and food riots if they didnt pass the initial TARP package, brazenly pockets $200 million in Goldman Sachs profits tax free while handing out billions in ill-gotten gains to his bankster buddies, all this after he pulled a bait and switch by changing the entire focus of the bailout from buying up toxic debt to giving money directly to financial institutions.

As a Congressional comeback to this outrageous action Congressman Ron Paul a Republican from Texas submitted to the 111th Congress H.R. 1207: Federal Reserve Transparency Act of 2009, amending title 31 of the U.S Code to allow a full audit of the Federal Reserve. This bill is still in the House and has gained substantial support, however it has not been officially voted on. In an article by Raw Story.com posted by Daniel Tencer on 7/25/2009, he states The Federal Reserve- the quasi-autonomous body that controls the USs money supply is a Ponzi scheme that created bubble after bubble in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney general of New York. Eliot Spitzer was also quoted as stating, ” The most poignant example for me is the AIG bailout, where they gave tens of billions of dollars that went right through conduit payments- to the investment banks that are now solvent. We (taxpayers) didnt get stock in those banks, they didnt ask what was going on- this begs and cries out for hard, tough examination.

Other countries economic collapses have been staved off or are eminent. In 2010 Greece, Spain, Ireland and Portugal have been placed on the IMF watch list for insolvent nations, as was Iceland in 2009 when the Icelandic government resigned. In 2010 France imposed severe austerity measures, which caused a nationwide strike by its unions whose members wages and pensions were threatened, and their retirement age was raised from 60 to 62. In England it was reported in 2010, that the Queen of Englands housing allowance for Buckingham Castle and her many other estates was cut by the British Parliament. Reports from several of England’s newspapers stated that the Queen was closing some of her estates and keeping the temperature in Buckingham Palace as low as possible, causing the Queen and her family the inconvenience of wearing sweaters. British newspapers and the BBC have reported numerous violent protests by the British people and especially students, who oppose the tripling of college tuitions. The European Union is coming unglued as country after country is facing severe austerity measures and high unemployment, and the Euro currency is becoming destabilized due to the near insolvency of so many European countries. As we enter a new year and decade more financial and political bad news is expected by all international economic forecasters. Some forecasts are expecting a complete global economic collapse that will cause total worldwide financial devastation, great food shortages, wars and marshal law instituted in many now democratic countries throughout the world. The price of gold and silver have sky rocked to over 1200 dollars per ounce with expert predictions of gold reaching over 2000 dollars per ounce in 2011 as the devaluation of all nations fiat currencies tumble into worthlessness.

Unleashing of a Financial Nuclear War author Mathias Chang writes; “Let us be very clear about the impact of the coming massive Quantitative Easing (QEII) by the FED, the financial bully of Wall Street. It is the unleashing of a financial nuclear weapon! The Financial media is portraying this process as a a war of survival between America and the rest of the world. This is a war waged by Wall Street. Its main instrument is a Global Ponzi Scheme.”

Mathias Chang also quotes a statement made by Martin Wolf a writer for the Financial Times one of the major voices for the financial establishment. To put it bluntly the US wants to inflate the rest of the world, while the latter is trying to deflate the US. The US must win, since it has infinite ammunition: there is no limit to the dollars the Federal Reserve can create. What need to be discussed are the terms of the worlds surrender.”

I am not a financial expert, nor do I make any claims at being one. I am a concerned citizen and a broadcaster who has reported on all of the issues and events for the last ten years that I have mentioned in this book. I cannot standby indifferently as a mannequin or crash dummy as so many Americans do, accepting whatever they are told as the politically correct acceptable fashion, or be driven into a brick wall to see how hard their head hits the windshield at 100 miles per hour. Wake up Americans, before you are driven into a brick wall, or over a cliff.

L.A. Steel

Permanent link to this article: https://lasteelshow.org/main/?p=564



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