The Greatest Debt Crisis The World Has Ever Seen Is Coming

By Michael Snyder

The largest mountain of debt in the history of the world just continues to grow even larger, and everyone knows that this colossal debt spiral is not going to end well.  But we all keep playing along because nobody wants the party to end.  Right now, there is an unprecedented ocean of red ink covering the planet.  Globally, governments have never been in so much debt, corporations have never been in so much debt and consumers have never been in so much debt.  But every time someone suggests that this is a problem and that we should at least try to get debt levels to settle down a bit, people start screaming that “austerity” will hurt the global economy.  And of course it will.  But we can’t continue to live way, way above our means indefinitely.  Well, we can try, but at some point this entire house of cards is going to come crashing down and we are going to be facing the greatest economic crisis the world has ever seen.
It is kind of like watching a slow-motion train wreck that you have no chance of possibly stopping that you know will end up killing lots of innocent people.  This debt crisis is going to end up destroying the global financial system, but there is not a thing that you or I can do to prevent it from happening.  The unprecedented debt binge that we are witnessing right now is going to continue until someday we hit a brick wall of financial disaster.  We can yell and we can scream, but it isn’t going to stop what is happening.
As the Telegraph recently noted, even the Bank for International Settlements is warning that debt levels are way too high.  According to the BIS, total public and private debt levels are now 30 percent higher than they were in 2008…

“This looks like to me like 2007 all over again, but even worse,” said William White, the BIS’s former chief economist, famous for flagging the wild behavior in the debt markets before the global storm hit in 2008.
“All the previous imbalances are still there. Total public and private debt levels are 30pc higher as a share of GDP in the advanced economies than they were then, and we have added a whole new problem with bubbles in emerging markets that are ending in a boom-bust cycle,” said Mr White, now chairman of the OECD’s Economic Development and Review Committee.

The BIS can see the disaster coming, but even they have no chance of preventing it.
For the rest of this article, I am going to focus on government debt, but please keep in mind that corporate debt and consumer debt are also totally out of control globally.  It would be very hard to overstate the nightmare that we are facing.
But of course national governments are the biggest offenders when it comes to debt…
Asia
Japan now has a debt to GDP ratio of more than 211 percent, and as Simon Black of the Sovereign Man blog recently detailed, they are rapidly heading toward a national financial meltdown…

Looking purely at the numbers, Japan’s medium-term fundamentals are among the bleakest in the world.
Total government debt amounts to over 200% of the country’s entire GDP– a figure so large that the Japanese government spends 51.5% of the 43 trillion yen ($430 billion) they collect in tax revenue just to pay interest!
Perhaps even more astounding is that ‘primary balance expenses,’ i.e. normal government expenditures, totaled 70.3 trillion yen, or 163% of tax revenue.
The only way they’ve managed to stay afloat is by issuing more debt, which makes the problem even worse. In fact, 46% of the 2013 budget is being financed by debt.
These guys are running out of rope. And fast.

China is facing a different sort of a problem.  In that nation, the growth of private domestic debt is wildly out of control.
According to a recent World Bank report, private domestic debt in China has grown from 9 trillion dollars in 2008 to 23 trillion dollars today.
There is no way that is sustainable, and at some point that massive bubble is going to burst.
Europe
Even though some European nations have supposedly implemented “austerity measures” in recent years, debt levels continue to rise rapidly.  The following are some numbers that were recently released which show that government debt to GDP ratios for some of the most financially troubled nations in Europe are absolutely soaring…

• Euroarea: 92.2%, up from 88.2% a year ago
• Greece: 160.5%, up from 136.5% a year ago
• Italy: 130.3%; up from 123.8% a year ago
• Portugal: 127.2%, up from 112.3% a year ago
• Ireland: 125.1%, up from 106.8% a year ago
• Spain: 88.2%, up from 73.0% a year ago
• Netherlands: 72.0%, up from 66.7% a year ago

Anyone that tells you that the crisis in Europe is “over” is lying to you.  The debt crisis is getting worse, not better.
The United States
The biggest mountain of debt of all can be found in the United States.
30 years ago, the national debt was a little bit above a trillion dollars.
Today, it is rapidly approaching 17 trillion dollars.
At this point, the U.S. already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.  And since Barack Obama entered the White House, the debt to GDP level has soared to unprecedented heights…

Sadly, this is just the beginning.
One reason for this is that the U.S. is facing some tremendous demographic challenges in the years ahead.
In other words, our population is getting older.
It is being projected that the number of Americans on Social Security will rise from 57 million today to more than 100 million in 25 years.
How in the world are we possibly going to pay for that?
Already, we are very heavily dependent on foreigners to pay our bills.
According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollarsof our debt at this point.
China and Russia account for about one-fourth of that total.  Right now, China owns approximately 1.275 trillion dollars of our debt, and Russia owns approximately 138 billion dollars of our debt.
So what would happen if we went to war with Syria and they decided to quit borrowing from us and they started dumping our debt instead?
That is a very good question.
And actually, according to Zero Hedge foreigners have already started to dump a little bit of our debt…

Today’s TIC data showed something disturbing: for the fourth month in a row, foreigners were net sellers of US Treasury paper in July, as total foreign holdings declined from $5.600 trillion to $5.590 trillion which represents 49% of total marketable debt (including the debt owned by the Fed of course). In other words, since peaking at $5.724 trillion in March, foreign-held debt has declined by $134 trillion, at a time when yields have surged on fears the Fed’s tapering of its own purchases of bonds will mean less Fed frontrunning opportunities.

We certainly cannot afford for that to continue, because we desperately need other nations to finance our reckless spending.
Our debt is wildly out of control, and the only way we can keep the entire system from collapsing is to go into even more debt.
As I noted recently, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.
That is a whole lot of money.
But most Americans do not consider it to be a problem because disaster has not struck yet.
Unfortunately, they simply don’t understand how quickly an exponential problem can overwhelm you.  I think that the following illustration from Simon Black is particularly helpful…

Let’s say you’re at a party in a small apartment that’s about 500 square feet in size. Then suddenly, at 11pm, a pipe bursts, starting a trickle into the living room.
Aside from the petty annoyance, would you feel like you were in danger? Probably not. This is a linear problem– the rate at which the water is leaking is more or less constant, so the guests can keep partying through the night without worry.
But let’s assume that it’s an exponential leak.
At first, there’s just one drop of water. But each minute, the rate doubles. So by 11:01pm, there’s 2 drops. By 11:02, 4 drops. And so forth.
By 11:27pm, there’s only six inches of standing water. Yet by 11:31pm, just four minutes later, the entire room is under nearly 8 feet of water. And the party’s over.
For nearly half an hour, it all seemed safe and manageable.People had all the time in the world to leave, right up until the bitter end. 11:27, 11:28, 11:29. Then it all went from benign to deadly in a matter of minutes.

By the time that our politicians and the talking heads on the mainstream media admit that we have a debt emergency on our hands, it will probably be far, far too late.
The greatest debt crisis the world has ever seen is coming, and there is nothing that anyone can do to stop it.
But you can take measures to get prepared for it.
Please get prepared while you still can.
About the author: Michael T. Snyder is a former Washington D.C. attorney who now publishes The Truth. His new thriller entitled “The Beginning Of The End” is now available on Amazon.com.

OWS Anniversary – 99 percent vs. 1 percent fight continues

As the Occupy Wall Street movement marks it’s 2nd anniversary on Sept. 17th 2013, RT’s Anastasia Churkina catches up with occupiers, acitivists and independent journalists who’ve been covering the movement to discuss what it has meant for the U.S., and where Occupy stands two years on.

Tuesday marked the two year anniversary of Occupy Wall Street. Two years ago protesters hit the street in mass numbers to show their disdain for the economic state of the country and their anger towards the US government for bailing out the big banks. So what has changed in the last couple years? Occupy activists Sam Jewler, Mike Perlman and Ilana Alazzeh join us to give us an update on the movement.

10 Things That Preppers Get Right

Gaye Levy

Activist Post

Everyone likes to read about someone else’s mistakes so that they can learn from them. When you think about it, that is a great way to avoid common pitfalls and to save yourself some of the grief and set-backs that are bound to occur along the road to preparedness.

As useful as that might be, I started giving some thought not to the mistakes that Preppers make but to the things that they get right. And there are a lot of them.

Today I share with you my take on ten things that Preppers get right. I list them in no particular order although I tend to think the first and last might be the most important.

10 Traits of the Successful Prepper - They...

1. Have the Will to Live

Prepper’s approach long term survival with gusto. As busy as they might be with job and family obligations, they are laser-focused on insuring that they will be safe for the long term. They want to live and want to enjoy the bounty of life itself. To that end, they are prepared to endure hardships and are prepared to defend what is theirs. They want to live, no matter what, and want to be a productive member of society.

2. Thirst for Knowledge

There is always something new to learn and to keep the Preppers brain engaged. There is never a time when they say "enough." As difficult as it may be at times to grasp the truth, Preppers seek knowledge and truth and relentlessly pursue just one more skill and one more fact that will help them prevail if their world goes to heck.

3. Believe in Family Values

The family as a social unit is important – whether it is a family of two or a family of twenty. Preppers know that and embrace and protect the family unit because it provides a sense of belonging is well as an environment for honesty and respect. However the family unit is defined (and each of us may define “family” in different terms), the core ideals remain the same: responsibility, accountability and love.

4. Possess the MacGyver Instinct

Every Prepper is a handyman. We fix stuff. We make things work by cobbling together odd bits and pieces into something newly purposed. We throw away nothing, lest it have some useful purpose down the road. We strive to jerry-rig our way out of just about anything sometimes with only some paracord and duct tape. The words “I can’t make it work” do not exist in the Prepper’s vocabulary.

5. Have Compassion for Others

Wikipedia defines compassion as “the emotion that we feel in response to the suffering of others that motivates a desire to help." The so-called survivalists of old were stereotyped as loners. These days, most Preppers understand the value of being around others and feel a strong emotional connection to helping those that are unable to help themselves.

This is not to say that we as a group are a bunch of bleeding hearts that will give away our hard-earned preps to anyone who comes asking. Quite the contrary. What it does mean is that we show compassion for those that are disabled, elderly, ill or simply lack the financial means to do more than a modicum of preparations. From these individuals we will seek knowledge and skills rather than physical possessions.

6. Stay Physically and Mentally Fit

To stay on top of the game, we must be able to move around freely and in an unencumbered manner. This means we must get regular exercise now so that we will be physically fit if we ever have to face an evacuation of bug-out situation. We must also stay nimble of mind so that rational decisions can be made quickly under the most adverse of circumstances.

Most Preppers know this and work toward a goal of physical and mental fitness each and every day of their lives.

7. Are Critical Thinkers

Critical thinking is the ability to think clearly and rationally. For some this comes naturally, but for most, this is an acquired skill that is honed by the thoughtful examination of risks and rewards before coming to a logical and decisive solution to a problem. By considering various catastrophic scenarios in advance, Prepper’s make plans for dealing with the risks most inherent to their geographical location and personal circumstances.

8. Know How to Drive a Hard Bargain

With very few exceptions, the Preppers I know live within the confines of a budget. In addition to funding their daily life and daily activities, they must fund the acquisition of supplies, outdoor gear, water storage facilities and extra food. They do this by shopping for bargains, searching for used items at thrift stores and garage sales, and by trading those items they no longer need for items they do.

They practice the skill of bartering services for goods and goods for services. By doing so, they are able to acquire what they need not only for now, but for long-term survival.

9. Understand the Value of Networking

Preppers understand that not everyone knows everything and not everyone has every single skill they will need to prevail. For that reason, they surround themselves with other forward thinking and like minded individuals. Some of these individuals may be local and others may only be accessible virtually over the Internet.

Regardless of where they are located, the vast majority of Preppers seek others in a respectful and open-minded manner. They know that when the going gets tough, they will have someone to share with and together they will watch each other’s backs.

10. Have Faith

Having faith and having optimism go hand in hand. Whether that faith is tied to organized religion or not, it is there none the less. Coupled with the will to live, having faith is what keeps us going. It allows us to put one foot in front of the other and to keep moving forward, one baby step at a time. Some will pray while others will quietly reflect in their own manner.

Faith is important and most if not all Preppers have faith.

The Final Word

It took me awhile to come up with this list. I pondered the top traits of the Preppers I know while taking a quiet hike along the trails near where I live. I thought about the hundreds if not thousands of emails I have received these past few years and boiled down the experiences that have been shared with me into these ten things that Preppers simply get right.

Chances are that you possess a majority of these traits. In fact, you may claim ownership of these traits and not even know it. Today I would like to challenge you to look at this list and to evaluate your own top Prepper traits. Celebrate those that you have and work on those that may need work. At the end of the day, if the world goes to heck, you will find that having these traits will allow you to prevail if not in comfort, than in safety.

I invite you to share any traits I may have missed in the comments area below. And blessings to all of you in your pursuit of preparedness.

Read other articles by Gaye Levy here.

Enjoy your next adventure through common sense and thoughtful preparation!

Gaye started Backdoor Survival to share her angst and concern about our deteriorating economy and its impact on ordinary, middle-class folks. She also wanted to become a prepper of the highest order and to share her knowledge as she learned it along the way. She considers her sharing of knowledge her way of giving back and as always, we at Activist Post are grateful for her contributions.

If you would like to read more from Gaye Levy, check out her blog at http://www.backdoorsurvival.com/.  You can also visit her Facebook page or sign up for updates by email by clicking on Backdoor Survival Updates.

Obama supporters Sign Petition Banning Gold Coins & Confiscating Coins From Safe Deposit Boxes to Help the Economy

U.S. debt now about 73% of GDP, CBO says

By Robert Schroeder

WASHINGTON (MarketWatch) - The U.S. national debt is now about 73% of gross domestic product, the Congressional Budget Office said Tuesday. The percentage of debt is higher than any point since around World War II, and twice the percentage it was at the end of 2007, the nonpartisan agency said in its long-term budget outlook. If current laws stay in place, debt will decline "slightly" relative to GDP over the next few years, the agency said. But it warned that growing future deficits will push the debt to 100% of GDP 25 years from now.

Read the full story:
CBO issues fresh long-term debt warning

A road to unsustainable debt: CBO reports that US is on unsustainable budget course as spending exceeds revenues.

A recent CBO report came out with a rather sobering outlook of our governmental spending habits.  The word “unsustainable” is probably not something you want uttered in a report about meeting a budget.  Yet that has been our recent trajectory when it comes to spending.  The massive financial crisis and subsequent bailouts have resulted in a titled economy favoring a small group of people.  The same engine that led us into this problem is still humming along and the too big to fail have now become the way too big to fail banks.  So unsustainability is the spine fueling the current recovery.  Debt upon debt only works until you reach tipping points.  US households hit that point a few years ago as the housing bubble imploded.  To think that this path of acquiring debt upon debt to pay for expenditures is sustainable is going to cause deeper instability into an already shaky system.

CBO report
The CBO report of course has some dramatic changes occurring in the near term:

What is interesting is pre-crisis, Federal Debt held by the public was under 40 percent.  Today it is at 80 percent and keep in mind this is much higher since other parties like foreign nations are now a larger owner of this debt (i.e., China).  The path forward is not going to be easy.  Yet the need to spend more is only going to accelerate with an aging population that is simply unprepared to face the financial challenges of retirement.
In the next decade we are going to see some major growth in where our spending goes to:

Costs like net interest, Social Security, and Medicare are going to consume a larger percentage of our spending.  This is why our total public debt outstanding is enormous and is going to hit another debt ceiling in only a few weeks.
Debt to the Penny
Total public debt outstanding is now above $16.73 trillion:

By the way, the latest GDP figure is around $16.6 trillion so we now owe more money than we produce in one year.  Is this problematic?  It was for households when they reached this level.
Households already reached unsustainable levels
U.S. Households seemed to reach a tipping point when their debt levels reached 100% of total annual GDP:

This actually makes sense on a very practical level.  People were simply spending more than they were bringing in.  Beyond that, many were spending money they didn’t even have by going into debt via mortgages, credit cards, auto loans, and the young through student debt.  At a certain point, even servicing the debt was problematic.
The CBO report is sobering because it comes from the government itself.  And you know this is a conservative estimate.  Keep in mind these are rosy assumptions based on the current bull stock market and what appears to be an investor spurred boom in real estate.  How sustainable are those trends?
Consumption as share of GDP
Consumption is still a large part of GDP:

As we have noted, household incomes in the US have not kept up in the last decade.  Over 50 percent of income went to the top 10 percent in 2012, the biggest gap in income disparity ever recorded for the US.
People need to keep spending to keep consumption going.  If income is going to a smaller group, the economy is going to have a smaller group of people to depend on.  There are only so many yachts you can purchase.  A robust middle class is the backbone of a strong overall economy.  The CBO report simply ties in with other unsustainable paths we are following.  Do not be surprised when another financial crisis hits because as the report noted, this is simply unsustainable.  And by definition, something that is unsustainable at some point will need to reverse and correct.

ECOtality fatality: Green company files for bankruptcy after 115M stimulus funding granted

PHOENIX (CBS5) – ECOtality, the electric car-charging company that operates more than 600 charging stations in Arizona, may be about to close its door. Last month, the company disclosed a myriad of problems with the SEC. In that filing, ECOtality released the following statement: “Although the Company is currently exploring options for a restructuring or sale of the entire business and/or assets of the Company, the Company may need to file a petition commencing a case under the United States Bankruptcy Code as part of any such process or otherwise in the very near future.” ECOTality was heavily involved in the federal government’s EV Project, sponsored by the Department of Energy. The goal of that program was to install charging stations and electric vehicle infrastructure throughout the United States. In all, ECOtality says it installed more than 13,000 home and commercial charging units. The EV Project reimbursed the company for many of those installations, paying out nearly $100 million. In the filing, the ECOtality says the DOE stopped making payments to the company. It also claims that its charging stations are not making a profit. Additionally, the report says ECOtality has had trouble finding additional funding. It has also had to pay $855,000 in back wages and damages to settle Labor Department claims that it violated the Fair Labor Standards Act and Davis-Bacon Act. A spokesperson for the company says no final decision on its future has been decided, but that could happen in the next 10 days. ECOtality was based in Arizona until 2010, and is now headquartered in San Francisco.

Keiser Report: CIA, NSA & Economic Espionage (E498)

Behind the Ethanol Scandal

NEW YORK (TheStreet) -- Something about this decade's economic assumptions has never made sense to me.
The idea that you can anticipate a high and rising price for fuel, regardless of demand, never made sense to me.
What I was taught in economics class was that demand encouraged supply, and at some point the two would balance.
That's what seems to be happening. Shale oil, shale gas, and new strikes around the world are dramatically increasing gas supplies and proven reserves, to the point where one-third of natural gas being pumped in North Dakota's Bakken is being flared, burned away, $100 million in gas a month.

Read: Ex-JPMorgan Traders Could Face 20 Years in Prison

North Dakota's Department of Mineral Resources explained this happens only when the oil flow from a well is being tested. Or, if a producer determines it "is not economically feasible" to connect the gas in a well to a pipeline, they may "seek relief" from paying taxes and royalties on it.
If something is not "economically feasible," doesn't that mean the market has cleared at a price below the cost to bring on production? At its current price of $3.67/MCF, according to the latest report on Investing.com, it's still not economically feasible.
Prices below production costs have long been the problem with ethanol. The Renewable Fuel Standard was created to bridge this gap, enabling production. The idea that traders may be exploiting this program is separate from the question of supply and demand. You wanted supply and you got it. Genetic engineering is coming to the rescue of fuel prices.
A bumper corn harvest, driven by genetically engineered seeds, is driving ethanol prices below those for unblended gasoline. This pressure is going to increase next year.

Read: Stop Blaming Lehman and Banks, Congress Created the Collapse

Ethanol Producer writes that cellulosic alcohol projects, which don't require food crops as fuel, are starting to come on-stream.
Science & Enterprise writes that non-fuel crops like castor beans, genetically engineered to be used as fuel, are also heading to market.
Venture-funded start-ups like Midori Renewables are preparing new catalysts that get even more fuel sugar from existing feedstocks.
So the only recourse left to oil advocates is to attack the the Renewable Fuel Standard that created all this abundance. Take away the bridge, chop off ethanol supplies at the source, and the price pressure on refiners and oil producers may abate.
Issues that appear political are often just economic, and that's the case here. Ethanol, with government aid, is now putting downward pressure on gasoline prices, and the producers of that fuel are howling about unfair competition.
But take away the market pressure of ethanol, do away with the Renewable Fuel Standard, flare enough gas in enough fields, and the market clears at the higher prices fossil fuel producers have built into their own economic models.

Read: Our 401(k)s Show We're Not Taking Investor Confidence Seriously

The lesson should be clear. The economic assumptions of this decade are wrong. There is a limit to how high natural gas and gasoline prices can rise before the market bites back. Now that this has happened, producers are squealing like stuck pigs.
Is the answer to give the old-line producers the political power they need to drive new supplies from the market so that they can keep raising costs and prices? Or is it to see that squealing as a victory and increase the pressure, forcing a permanent re-examination of the fuel industries' cost structures?

The answer to that one, I think, is obvious. The war against oil is being won, and now is the time to go in for the kill.

At the time of publication, the author owned no ethanol stocks.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

The Treasury Secretary on How Unstable U.S. Government Finances Are

Source: EPJ


Treasury Secretary Jack Lew made the following statement during remarks today before the Economic Club of Washington D.C.:

[W]e are relying on investors from all over the world to continue to hold U.S. bonds.  Every Thursday, we roll-over approximately $100 billion in U.S. bills.  If U.S. bond holders decided that they wanted to be repaid rather than continuing to roll-over their investments, we could unexpectedly dissipate our entire cash balance. 

Median Household Income Has Fallen For FIVE YEARS IN A ROW

By Michael Snyder

If the economy is getting better, then why do incomes keep falling?  According to a shocking new report that was just released by the U.S. Census Bureau, median household income (adjusted for inflation) has declined for five years in a row.  This has happened even though the federal government has been borrowing and spending money at an unprecedented rate and the Federal Reserve has been on the most reckless money printing spree in U.S. history.  Despite all of the “emergency measures” that have been taken to “stimulate the economy”, things just continue to get worse for average American families.  Americans are working harder than ever, but their paychecks are not reflecting that.  Meanwhile, the cost of everything just keeps going up.  The Federal Reserve insists that inflation is “low”, but anyone that goes grocery shopping or that stops at a gas station knows that is a lie.  In fact, if inflation was calculated the exact same way that it was calculated back in 1980, the inflation rate would be somewhere between 8 and 10 percent right now.  Paychecks are being stretched more than ever before, and that is probably the reason why about three-fourths of the entire country is living paycheck to paycheck at this point.
According to the Census report, the high point for median household income in the United States was back in 1999 ($56,080).  It almost got back to that level in 2007 ($55,627), but ever since then there has been a steady decline.  The following figures come directly from the report, and as you can see, median household income has fallen every single year for the past five years…
2007: $55,627
2008: $53,644
2009: $53,285
2010: $51,892
2011: $51,100
2012: $51,017
How far does that number have to go down before we admit that we have a major problem on our hands?
The new Census report also revealed that 46.5 million Americans are living in poverty.  As CNSNews.com noted, this is far higher than when Barack Obama first entered the White House…

During the four years that marked President Barack Obama’s first term in office, the real median income of American households dropped by $2,627 and the number of people on poverty increased by approximately 6,667,000, according to data released today by the Census Bureau.

So why does Obama continue to insist that things are getting better?
Right now, one out of every five households in the United States is on food stamps.
One out of every five.
How bad does it have to get before we acknowledge that what we are doing economically is not working.
Will half of us eventually end up on food stamps?
In addition, the new Census report also says that 48 million Americans are currently without any kind of health insurance whatsoever.
The biggest culprit for this is the stunning decline of employment-based health insurance.  Back in 1999, 64.1 percent of all Americans were covered by employment-based health insurance.  Today, only 54.9 percent are covered by employment-based health insurance.
And of course as I noted yesterday, even more companies are going to be dumping health insurance plans because of Obamacare.
All in all, what we have been witnessing over the past decade and a half is the systematic evisceration of the middle class.
After accounting for inflation, right now 40 percent of all U.S. workers are making less than what a full-time minimum wage worker made back in 1968.
Over the years, our incomes have certainly gone up, but inflation has increased even faster.
Back when I was growing up, $50,000 a year sounded like a whole lot of money.  I thought that anyone should be able to live a very comfortable lifestyle on that amount of money.
Unfortunately, $50,000 a year doesn’t go nearly as far as it once did.
If you take the current median household income ($51,017) and divide it up by 12 months, it comes to just a little bit more than $4000 a month.
And as I noted last year, it is not easy for the average American family to do everything that it needs to do on $4000 a month…

So can an average family of four people make it on just $4000 a month?
Well, first of all you have got to take out taxes.  After accounting for all forms of taxation you will be lucky if you have $3000 remaining.
With that $3000, you have to pay for all of the following…
*Housing
*Power
*Water
*Food
*Phone
*Internet
*At Least One Vehicle
*Gasoline
*Vehicle Repairs
*Car Insurance
*Health Insurance
*Dental Bills
*Home Or Rental Insurance
*Life Insurance
*Student Loan Debt Payments
*Credit Card Payments
*Furniture
*Clothing
*Pets
*Entertainment (although it is hard to imagine any money will be left for that)
Have I left anything out?
The truth is that $3000 does not go as far as it used to.
No wonder American families are feeling so stretched financially these days.

The new Census report also noted that the gap between the wealthiest Americans and the rest of us continues to grow.  There is certainly nothing wrong with making money, but if the economy was working properly all Americans should be able to have the opportunity to better themselves.
According to CNBC, the 400 wealthiest Americans now have more money than the poorest 50 percent of all Americans combined.
So why is this happening?  Well, certainly there are a lot of reasons, but in recent years quantitative easing has definitely played a role.  As I noted in my recent article about the Federal Reserve, quantitative easing has been incredibly good for those with stocks and other forms of financial investments.  All of that liquidity has juiced the financial markets, and the extremely wealthy have been loving it.
Meanwhile, things just continue to get even tougher for most of the rest of the American people, and the frightening thing is that the next major wave of the economic collapse has not even hit us yet.
How bad will things be for average American families once that happens?
And there are certainly lots of troubling signs as we get ready to head into the fall season…
-Total mortgage activity has dropped to the lowest level that we have seen since October 2008.
-One of the largest furniture manufacturers in America was just forced into bankruptcy.
-According to the Wall Street Journal, the 2013 holiday shopping season is already being projected to be the worst that we have seen since 2009.
Hopefully the slow and steady economic decline that we have been experiencing will not accelerate into a full-blown avalanche any time soon.
But I would definitely get prepared just in case.

The Fed’s Double-Bind – The Fed will blow up the economy if it continues money-pumping, but it will choke off the fragile recovery if it cuts back its money-pumping

by Charles Hugh-Smith of OfTwoMinds blog,
he Fed will blow up the economy if it continues money-pumping, but it will choke off the fragile recovery if it cuts back its money-pumping.
The Federal Reserve is in a classic double-bind: as its policies to boost growth bear fruit, interest rates rise, threatening the very recovery the Fed has lavished trillions of dollars of quantitative easing (QE) to generate.
Higher growth naturally leads to higher interest rates, which then choke off growth.
The Fed’s goal was a self-sustaining recovery, in which growth reaches “escape velocity,” i.e. is strong enough to support higher interest rates.
But the pursuit of that goal via trillions of dollars of asset purchases has inflated asset bubbles in stocks and real estate. The Fed’s goal was to push speculative and institutional money into risk assets such as stocks, generating a “wealth effect” that was supposed to spill over into the real economy via higher borrowing and spending.
The pursuit of “the wealth effect” via inflating asset bubbles has created another double-bind: now that markets have become dependent on Fed money and liquidity pumping, the Fed cannot reduce its QE money-pump (currently $1 trillion a year) without tipping the stock market into free-fall.
If the Fed continues its massive monetary easing programs, asset bubbles will only inflate to speculative extremes, to the point where violent bursting becomes a matter not of “if” but of “when.” (This is also known as “the music stopping.”)
If the Fed cuts back its money-pumping and asset purchases, interest rates will rise, as interest rates will seek a market level that isn’t pushed to near-zero by the Fed’s financial repression.
Higher rates will choke off tepid Fed-induced growth. We already see home refinancing rates plummeting to 2009 recessionary levels.
So the Fed risks blowing asset bubbles that will devastate the economy if it continues the QE pumping, but it risks killing the tepid recovery if it cuts back its pumping. Darned if you do, darned if you don’t.
Put another way: if growth is needed to boost corporate sales and profits, but growth leads to higher interest rates and reduced central-bank suppport of markets, this is a double-bind with no exit.

Living wage advocates rally as DC Council votes on LRAA veto override

On the 17th of September, supporters of the Large Retailer
Accountability Act gathered in front of the Wilson Buildoing for an
attempt to stiffen coucilmember's backbones.
Mayor Gray has chosen Wal-Mart over low income workers and good jobs
by vetoing the bill, as this is written it is yet to be seen if the
Coucil will have the backbone to override.



Many speakers warned that "their next mayor" supports the LRAA, meaning
that the councilmembers who are running for Mayor lose their votes
unless they vote to override the Mayor's Wal-Mart ordered veto of the
LRAA.

City crews clear parks in more homeless sweeps

By Ian Scheuring - bio | email

 

HONOLULU (HawaiiNewsNow) - City crews removed tents and other belongings in a series of homeless sweeps from Honolulu parks early Tuesday morning.
Operations started around 2 a.m. at Thomas Square and A'ala Park, wrapping up several hours later.
The city has been conducting sweeps since Bill 7, which allows authorities to clear sidewalks without notice, went into effect in July.
Copyright 2013 Hawaii News Now. All rights reserved.

Are We Rome? Ben Powell Compares the U.S. with the Roman Empire

The typical American family makes less than it did in 1989

By Neil Irwin, 

The Census Bureau is out with the annual report on incomes and poverty. And while you might think that after years of stagnant incomes and elevated poverty rates, we would be inured to the depressing facts contained therein, it still somehow has the power to shock.
For my money, the most depressing fact about the economy is not the fact that household incomes were basically flat in 2012 (the real median household income was down to $51,017 from $51,100 in 2011, a statistically insignificant change). It wasn't even the fact that 15 percent of the U.S. population was living in poverty, according to the official, flawed definition of the term.
Nah, the most depressing result comes when you look at the longer view of household incomes in the United States. This chart shows real median household income over the past 25 years; that is, the money earned, in inflation-adjusted dollars, by the family at the exact middle of the income distribution.

Source: Census Bureau

Headlines about these numbers tend to focus on how we have now experienced a lost decade for the middle-class American family, with incomes back to their late 1990s level. But as the chart shows it's really worse than that.
In 1989, the median American household made $51,681 in current dollars (the 2012 number, again, was $51,017). That means that 24 years ago, a middle class American family was making more than the a middle class family was making one year ago.
This isn't a lost decade for economic gains for Americans. It is a lost generation.

COMER VS BOC (Canadians taking the bank to court)

This is an update to the COMER vs The Bank of Canada. Round two starts with an appeal. In 1974 The Government turned the power to create our money to the private banking system. This is an attempt to get control back in the hands of the people.

More on this case: PRESS CONFERENCE DEC 21, 2011
Canadian constitutional lawyer, Rocco Galati, on behalf of Canadians
William Krehm, and Ann Emmett, and COMER (Committee for Monetary and
Economic Reform) on December 12th, 2011 filed an action in Federal Court,
to restore the use of the Bank of Canada to its original purpose, by
exercising its public statutory duty and responsibility
 

ABORTING THE "END GAME" OF The Treasury official playing the bankers' secret End Game was

PUBLIC NEED TO KNOW:
Hopefully this will be the aborting of the scheduled take-down of the United States Dollar backed by Durham (Intl. Ltd;)Holding Trust, Tias 12087. It is unfortunate Mr. W.J. Clinton, Robert Rubin, Timmothy Giethner, Alan Greenspan, G.H.W. Bush, G.W. Bush, James Brady III, the U.S. Treasury, Bank of England, U.S. Federal Reserve Bank, World Bank, International Monetary Fund, World Trade Organizations, Al Gore using The Enviormental Protection Agency, the United Nations and etals for such a horrific violation of HUMAN RIGHTS creating global wars to cover their rumps as explained below. V.K. Durham, CEO, Durham Holding Trust Tias 12087
========================================================================================================= ABORTING THE "END GAME" OF The Treasury officials playing the bankers' secret End Game was Larry Summers. Today, Summers is Barack Obama's leading choice for Chairman of the US Federal Reserve, the world's central bank. If the confidential memo is authentic, then Summers shouldn't be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.

The memos are authentic.  http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/#more-8455
Which confirms CEO, V.K.Durham, Durham (Intl. Ltd;) Holding Trust, Tias 12087 [including why those involved denied the marriage of V.K. Durham and Russell Herman][they forged the wrong signature i.e., Russell Herman's] that which is contained herein.

The following article posted by VeteransTodayNews.com was in error in some vital information to which corrections are made by the CEO, V.K. Durham, Durham (Intl. Ltd;) Holding Trust, Tias 12087.

Sunday, November 11, 2012
 link to beforeitsnews.com

 http://www.veteranstoday.com/2012/01/28/heres-the-deal-fixing-america/
 http://wtsnb.blogspot.com/

CORRECTIONS to the above article:

From: "V.K.Durham" < v.k.durham@comcast.net>
To: "V. K. Durham"  v.k.durham@comcast.net,
Sent: Friday, September 13, 2013 8:50:00 AM
Subject: THE TRUTH ABOUT 9/11, WHAT IS BELIEVED TO BE MR. PUTIN'S "PUT UP OR SHUT UP" POSITION; IT'S ALL ABOUT MONEY!

Fellow "victims" of this financial nightmare corruption imposed on the global community of mankind which includes Americans also; It is believed based on the information contained formerly made public by VeteransTodayNews November 11, 2012 article the true reason Obama and Putin, China and others are jousting over Syria which is a portion of the Mid East as we are aware which is all over money! Money directly connected with the 1991 Banking Frauds. Russia's involvement? TERM OF CONTRACT 10 YEARS scheduled to pay out on or about 9/11/01.

** There was involvement, at that time with a HAMILTON & HYUN Investment Corp. (Korean) further involved with USSR GOVERNMENT LOAN FACILITY, TRANSACTION CODE - TBC: 11AM/WS/9102 further identifying;
1. Prime Minister of Yakutsko, Mr. K. Ivanov,
2. Deputy P.M. of Yakutsko, Mr. D. Popov,
3. Bank of Foreign & Economic Affairs, Moscow, Mr. E. Sadovsky,
4. Prodintor for Yakutsko (Buying Arm), Mr. Ermilin.

If I am reading these transactions carefully [I've been at this since 1962] this latest show of backside of the U.S. Corporate Executive indulging in calling Mr. Putin a Jackass and a Dick.. was brought on by the position of Russia, China and other Mid East Nations telling Mr. O. to pay up or shut up regarding all the Financial Espionage, Financial Aggression, Financial Frauds and Global Economics Crisis brought about by the 1991 $240 Billion Dollars [two $120 Billion's, one aimed at the Japanese Yen the other through the Deutch Mark, both used by the U.S. Federal Reserve banking to bring down the U.S. Dollar. Why? The Federal Reserve Bank's "receivership" on the united States was running out. The Council on Foreign Relations containing such members as G.H.W. Bush, William J. Clinton and many other recognizable names [representing the U.S. HOUSE and SENATE] was to foam the runway so to speak with the Global Banking of the IMF and WB.

These GLOBAL SETTLEMENTS are part of the Keys to all of this! Why do you think the DINAR has not paid? Why do you think none of the other victim nations currency has been RV'd or Revalued?! Putin simply said [in essence] the world is tired of the Federal Reserve's funny money.. Our Gold Reserves were stolen. Other nations Gold Reserves were stolen and we would not have known about it has the representatives of the White House, Timmothy Giethner, Jamie Diamon and etals offered V.K. Durham, CEO, Durham (Intl. Ltd;) Holding Trust, Tias 12087 $40 Billion Dollars Gold Bullion if she would underwrite the two $120 Billion Dollar Transactions [$240Billion total] of the 1991 Transaction. V.K. Durham, CEO agreed to accept with the caveat emptor "all the gold bars must be core drilled, assayed, recertified and delivered to Durham's Bank of Choice."

That was when China, Russia and the entire world discovered their Gold reserves were nothing more than gold plated tungsten. I stand by my statement: Mr. Putin put it to Mr. Obama "pay up or shut up" regarding this Black Ops Syrian Situation.

Friday, 13-Sep-2013 06:35:08 Benjamin Fulford interviewed by Aaron Wilson on 9/12/13 appears to have knowledge of what is contained in V.K. Durham's, Thursday, September 12, 2013 corrections of information formerly made public by VeteransTodayNews November 11, 2012 article to which I responded with corrections view BF Video  http://youtu.be/70nI1gwxAHI

--------------------------------------------------------------------------------


From: "V.K.Durham" < v.k.durham@comcast.net>
To: "V. K. Durham" < v.k.durham@comcast.net>, "Veterans Network" < gm@veteranstodaynetwork.ccsend.com>
Sent: Thursday, September 12, 2013 7:38:42 PM
Subject: Sunday, November 11, 2012. VETERAN'S TODAY NEWS ARTICLE "CORRECTIONS" IN RE: PROJECT HAMMER, RUSSELL HERMAN INVOLVEMENT WITH BUSH OPERATION OF DESTRUCTION OF PAPER TRAILS 9/11/01

Statements need correction. Russell Herman owned no part, nor participated in any 1991 Transactions involving G.H.W. Bush and others. Herman's name is not contained nor evidenced on any "Collateral Property." See: DOCUMENTATION/VALIDATION OF
Durham (Intl. Ltd;) Holding Trust, Tias 12087 Documents of Recorded Record  http://www.theantechamber.net/Vk2009/DocumentationValidation.htm

This comes from the parallel "Project Hammer" of the Bush transaction stating: These Russian loans were facilitated by Enron, starting in August of 1993, and very possibly were part of the Project Hammer takeover of Soviet industry.

In regards to Project Hammer see: HOW DID "PROJECT HAMMER" GET IT'S NAME?  http://portland.indymedia.org/en/2013/06/423875.shtml

In all fairness; Not a single man involved in all of this Banking fiasco wants anyone to know "A Woman Controls the Bonus Commodity Contract 3392 and Certificate of Indebtedness of Peru, May 1, 1875. Number 181 which is held in Trust."

In regards to the articles statements.. here are the account numbers and aba's of the banks involved.

THE COMMODITY CONTRACT BONUS 3392-181 is; A Duly Constituted Sovereign Commodity Contract of the Republic of Peru of April 27, 1875, sold in the United States May 1, 1875 it is a DEBT of the United States.

December 2, 1989. Document Recorded of Public Record in it's requirement of TWO SIGNATURES & TWO SEALS "regarding transferring of any of the 24% GOLD COLLATERAL INTEREST IN COSMOS SEAFOOD ENERGY MARKETING LTD;. The 24% interest GOLD COLLATERAL accrued on BONUS 3392-181 taken out of COSMOS SEAFOOD ENERGY MARKETING, LTD. This was at the NOTICE of Chief of Operations, Fraud Division, Chief Gammlesgarrd informing the Corporate Officers, Russell Herrman and V.K. Durham "TOO MANY COSMOS CORPORATIONS were pretending to be "Us."

1991. Sept. 12. A transaction consisting of 120B$ GOLD was put down through TRANS TECH INTERNATIONAL at this address MOSHAV YISHI 68, ISRAEL.
This Israel operation took this down through :001 & :002 (U.S. DEPT OF THE TREASURY & U.S. FEDERAL RESERVE BANK) in 30 BILLION DOLLAR USD INCREMENTS.

A. This involved the JAPANESE YEN and DUTCH MARK
a. TRANSACTION CODE: 091291/JY/USD/30B/001 [001 UST] and 091291/DM/30B/002 [002 Federal Reserve Bank]
"four of these transactions went down."

b. Provisions of the Agreement(s) (not signed or authorized by the Signatories of Bonus 3392-181) "Transactions to continue until the U.S. DOLLAR WAS EXHAUSTED." (Interpol has the Agreement, and the PAYOUT ORDERS on these transactions) (as does the U.S. Security Exchange, Washington, DC Offices), and

c. TERM OF CONTRACT 10 YEARS scheduled to pay out on or about 9/11/01.

** There was involvement, at that time with a HAMILTON & HYUN Investment Corp. (Korean) further involved with USSR GOVERNMENT LOAN FACILITY, TRANSACTION CODE - TBC: 11AM/WS/9102 further identifying; [02 Federal Reserve Bank]

1. Prime Minister of Yakutsko, Mr. K. Ivanov,

2. Deputy P.M. of Yakutsko, Mr. D. Popov,

3. Bank of Foreign & Economic Affairs, Moscow, Mr. E. Sadovsky,

4. Prodintor for Yakutsko (Buying Arm), Mr. Ermilin.

PAYORDER'S on THE DEUTCH MARK and JAPANESE YEN (EACH); PROVIDERS TRANSACTION CODE: 09/1291/DM/USD/30B/002;

09/1291/DM/USD/30B/001 [Dutch Mark/US DOLLAR through UST]

and 09/1291/JPY/USD/30B/001 [Japanese Yen/US DOLLAR through UST]

and 09/1291/JPY/USD/30B/001 [Japanese Yen/US Dollar through UST] and

09/1291/DM/USD/30B/002 [Dutch Mark/US Dollar through Federal Reserve]

to which the payorder identifies the following accounts:
THE SECOND PARTY (ref: pg. 1)

Name: Trans Tech International
Address: Moshav Yishi 68, Israel
Represented by: Jonathan Tiede

BONUS BANKING (ref. pg. 3):

Bank Name: Security Pacific Bank
Address: 26929 102 NW

Stanwood, WA 98292
Routing ABA: 125000037
Account No. 1530113241
Bank Officer: Don Swanson
Phone No. (206)629-2141

JAPANESE YEN PROVIDER BANKING COORDINATES (ref:pg. 3):

Bank Name: Chase Manhattan Bank, NYC, New York
Address: Main Office
Account Name: DFG, Inc-Palm Springs Stars Baseball Club, Inc.
(** DFG, Inc-Palm Springs Stars Baseball Club, Inc, associated through NEAL BUSH, NSA, NASA & HUDD -JACK KEMP, NICHOLAS BRADY, ALAN GREENSPAN, ARIEL LIFE SYSTEMS affiliated with NASA.)
Routing ABA: 0210-0021 F/A GOLDMAN SACHS A/C 930-1-011-/183,
Account No. FCC TO DFT, INC. A/C 027-020882039
Federal Tax Id: 33-0457266
Transaction Code: 09/1291/DM/USD/30B/002
SECURITY CODE: CSEMLTDRHVKDJFDPGC3392-181

US DOLLAR PROVIDER BANKING COORDINATES (Ref:pg. 4)

BANK NAME: CHEMICAL BANK
Address: 55 Water Street

New York, NY
c/o Sherson Lehman Brothers
Account No: 02100128 for the account number 066027209

Further credit to Daryl Pennington & Assoc.

Account No. 673155413201

COSMOS SEAFOOD ENERGY MARKETING LTD:-181 BANKING COORDINATES

Federal Tax ID:S 88-02443380
Corp. ID No. 1707-85
Bank Name: Boatman's National Bank of Belleville, IL
Address: 23 Public Square

Belleville, Illinois
Routing ABA: 081001413
Account No. 011503029697-0407 Russell Herman & V.K. Durham as individuals

***Note No. 1. All four transactions went down through the same Banks & Brokerage Houses facilitated by the U.S. Dept. of the Treasury (001) and the U.S. Federal Bank (002).

Note No. 2. November 18, 1991; V.K. DURHAM was ordered off the BOATMEN'S BANK ACCOUNT by THE DEPARTMENT OF HEALTH AND HUMAN SERVICES (?) Even though, Mr. Herman gave written letter stating "HE WAS GOING BLIND" and "could not see to do his banking and other business affairs".

Note No. 3. V.K. DURHAM was subsequently, as of June 1992, identified in the DEPARTMENT OF HEALTH AND HUMAN SERVICES AS "DECEASED."

 http://www.theantechamber.net/V_K_Durham/TexasTwoStep7.html

=============================================================


OCTOBER SURPRISE
(aborted?)
By V.K. Durham
10/27/04

This has most certainly been an 'unusual' year with the 'planned' collapse of the U.S. Treasury and U.S. Fed. R. Banking Systems and the "taking of the global banking, financing and economics hostage with fabricated-forged financial instruments backed only by the forged signature of a murdered man.

This HEDGE FUND (Counterfeit Bonus Certificate 3392-181) OCTOBER SURPRISE collapse of the U.S. Treasury & U.S. Fed. R. Banking Systems was planned by the Council on Foreign Relations during the Clinton Administration with the 'authorizing of the agreement' by Lawrence Sommers, Former Goldman Sachs Rubin Sec. of Treasury currently with CITIGROUP-CitiBank, and Russell Munk of the U.S. Treasury, and Alan Greenspan of the U.S. Fed. R. These are the individuals who are being blackmailed in the PUBLIC NOTICE at
 http://www.theantechamber.net/VkDocuments/DocGroupG/Gpage4.html .

CLINTON'S HEDGE FUND & JUNK BOND dealer Mark Rich along with the investigations involving CitiGroup's CITI-BANK dealings with CHINA, JAPAN etc has caused quite a furor within THE ORGANIZATION OF AMERICAN STATES who have, along with Russia, China, Cuba etc decided "They can no longer allow their Central Banks to deal with the U.S. Banking Systems of the U.S. Fed. Government due to the CORRUPTION & ORGANIZED CRIME throughout the entire system which is interfering with, and attempting to take over THE INFRA STRUCTURES of the NATIONS involved in the OAS."

The Central Banks involved in this 'No longer supporting the U.S. Dollar" such as China, Russia etc., found themselves confronted holding WORTHLESS BANKING PAPER in the form of $400 Trillion Dollars "U.S. DEBT" COUNTERFEIT FABRICATED Bank Instruments which, believe it or not goes all the way back to 1991-93 then the Blackmailing begins in 1997-98 and the Banking commences going through HELLENIC EXPRESS INTERNATIONAL LTD. a Greek Registered Corporation also registered in Nevada owned by E.J. Ekker and a Doris J. Eloise - Ekker formerly from Texas, Tehachapi Cal., Las Vegas NV and currently MAKITA CITY PHILIPPINES which tied in with the IRAN BANKING then on to SAUDI BANKING SYSTEMS and on to CHINA, JAPAN, RUSSIA and so forth.

POSSIBLE "CIA FLU"..read
 http://www.nationalenquirer.com/stories/feature.cfm?instanceid=62632 ... Its possible; CENTRAL BANKS refusing to deal with U.S. DOLLAR...knowing many of them were on a SNIPE HUNT holding the BAG on close to $400 Trillion Dollars in what they thought were U.S. DEBT DERIVATIVES , HEDGE FUNDS along with a few JUNK BONDS... Remember; THIS ALL WAS AUTHORIZED BY THE CLINTON ADMINISTRATION & THE COUNCIL ON FOREIGN RELATIONS1997-98.

U.S. Security Exchange Commission Chairman William Donaldson (Bloomberg.com) won his fight to extend SEC oversight to hedge funds, passing regulations opposed by the $866 billion industry and his two Republican commissioners.

The SEC Orders Hedge Funds to Register (Oct. 26, 04) under a new Rule approved on Tuesday in a 3-2 vote by the market-policing agency.

This should effectively STOP the OCTOBER SURPRISE by acknowledging this alleged external U.S. DEBT OF $400 TRILLION DOLLARS is 98% FRAUD fabricated back in 1997-98 in the GUILARMI HOTEL in Makita Philippines. What was intended by the
 http://www.billionaireboysclub.com
or  http://www.google.com/search?as_q=&num=50&hl=en&ie=ISO-8859- 1&BtnG=Google+Search&as_epq=BILLIONAIRE+BOYS+CLUB
(TYPED IN) "BILLIONAIRE BOYS CLUB" and see what you get. The CLINTON DEMOCRATS and COUNCIL ON FOREIGN RELATIONS fully intended to take down the U.S. Banking and the Presidency via the JUNK BONDS & HEDGE FUNDS in CHINA'S BANKING should be successfully neutralized or we are hoping this is the instance, and further explained in the 285 page FBI investigation papers recently exposed on
 http://www.rumormillnews.com

"DISCOVERED PAPERS: HANOI DIRECTED KERRY!!!"
( http://www.rumormillnews.com/cgi-bin/forum.cgi?read=57877
which can be also accessed at
 http://www.rumormillnews.com/cgi-bin/forum.cgi?read=57946
article by PRAVDASEEKER Tuesday, 26, October 04.

Can we be assured the OCTOBER SURPRISE IS ABORTED? I can only say at this time: Its going to be nip and tuck.
Thanks to the men and women and Little Fox's at globemaster for "monitoring" my phones and computers. Hopefully WE GOT THE JOB DONE.

V.K. Durham, CEO

 http://www.theantechamber.net/V_K_Durham/OctSurpriseAbort.htm

-------------------------------------------------------------------------------------------------------------------------------


FINAL "INTERNATIONAL BANKING, FINANCING & ECONOMIC "HOSTAGE" TAKE DOWN
(read:  http://www.theantechamber.net/V_K_Durham/AbusingTheCodeOfSilence.html and listen to both recordings)
By: V.K. Durham


THE WORLDS BIGGEST TRIPLE CROSS came into full play when THE U.S. FED. R./US TREASURY cut a deal with GLOBAL ALLIANCE INVESTMENT ASSOCIATION, E.J. Ekker and Doris J. (Eloise) Ekker to "Fabricate" the BONUS CERTIFICATE 3392-181 "Counterfeit Prime Bank "Gold" Collateral Instruments" which was not to be interfered with by THE COUNCIL OF FOREIGN RELATIONS. The evidence is at  http://www.theantechamber.net/VkDocuments/DocGroupG/Gpage4.html . It is suggested you read the MEMORANDUM.

The Al Quad has since become a global "hate the U.S. organization" all operating under the same Al Quad, but under sound alike (idem sonans) names such as The Al Qaeda, The Al Quayeda, ALL KADA, MLIF, Abbu Sayeff and on down.

DEALING WITH NATIONS UNDER SANCTION; THE FIRST "TRIP(s)" 1997-98 made by Rick Martin (the one to whom Russell Herman allegedly assigned his interest") was as a JOURNALIST FOR THE "CONTACT NEWS PAPER (one of its many names) to IRAN, LYBIA, BRUNEI,INDONESIA, MALAYSIA, S. AFRICA etc to "THE AL QUAD" members.

THE GAIA OPERATION-EKKER'S TOOK THEIR ASSIGNMENT WITH THE AL QUAD "14 years prior to 1998." This is their published statement, not mine.

CHAPTER EIGHT listed at  http://www.theantechamber.net/V_K_Durham/ChapterEight.html
tells it all. [Our President "bows" to the King of Saudi Arabia, after] they "took a bullet to the ears of Congress" which, in essence is BUYING OF CONGRESSIONAL SILENCE through Bribery, Coercion, Intimidation..to cover up the "murder" of U.S. Coast Guard/U.S. Naval Intelligence/U.S Treasury Agent, CEO of Cosmos Seafood Energy Marketing, Ltd; Russell Herman.

The evidence is documented in the form of PHOTOS of his body taken by THE CORONER September 5, 1994. Look carefully at the photos at  http://www.theantechamber.net/V_K_Durham/VkPublicNotice.html .

To this very day [09/16/13]; ALL INVESTIGATIONS are STOPPED at WASHINGTON LEVELS OF CONGRESS.
See  http://www.theantechamber.net/V_K_Durham/UsHasBeenHijacked.html .

THE BANKING CARTELS now know the "quasi" U.S. Federal Reserve & U.S. Foreign Federal Reserve Banking Systems (QUASI. A legal term which is used in legal phraseology to indicate that one subject resembles another, with which it is compared, in certain characteristics, but that there are intrinsic and material differences between them) have "operated as a FEDERAL U.S. GOVERNMENT CORPORATION, in VIOLATION of the Acts of Congress (out of session in both instances) mandates "Must at all times act in compliance with law."

THE FEDERAL RESERVE is neither FEDERAL, nor is it a RESERVE.

THE OBJECTIVE OF THE AL QUAD was to "get to know the Laws of the United States, turn the law around and use it against the United States." This is a quote from GAIA-EKKERS in public print.

THE BRETON WOOD AGREEMENT/GATT/IMF/WORLD BANK (Bank Reconstruction Act Number One)(1945-47)was finalized. There were original members totaling around 145 member nations. Today there are approximately 175. Each of these nations have CENTRAL BANKS. Each Central Bank has accounts of THE U.S. FED R. CORPORATIONS which holds approximately (1994) $200,000,000. GOLD BULLION (Fort Knox U.S. Treasury Gold Reserve).

MULTIPLY $200,000,000. X's 175... This is where the Ft. Knox Gold Reserves of the U.S. Treasury "went." It went into the Fed. R. Corporations accounts in the Central Banks of these nations. This is why THE GAO (government accounting offices) have been REFUSED to be allowed to AUDIT the Fed. R. Banking Corporations.

MAY 21, 2003 $6.5 TRILLION DOLLAR DEBT OF THE U.S. & CONTINENTAL DEBTS WERE PAID.

TWO $6.5 TRILLION DOLLAR GOLD "EQUITY COLLATERAL" INSTRUMENTS were issued. One for the U.S. and Continental Debt. The other for GLOBAL HUMANITARIAN NEEDS.

THE US DEBT & CONTINENTAL DEBT PAYMENT was never credited back to THE U.S. DEPT OF THE TREASURY. By June 16th, 2003, it was being used to JACK UP THE STOCK MARKETS around the world.

After the acceptance of the $6.5 Trillion Debt's.. We were asked if we would underwrite the EXTERNAL U.S. DEBT of $400 Trillion Dollars.
COUNTERFEITING and UNAUTHORIZED GOLD INSTRUMENTS have by now, created a U.S. External Debt of approximately $858 Trillion Dollars. [2013. $102 QUADRILLION]

NOW YOU KNOW WHAT HAS GONE ON.

The party representing CLEAR STREAM (Fed. R. operation) a Mr. Kamalurzaman Bin Annuar..Was caught by the OTHER BANKING CARTELS with his FED. R. BANKING SYSTEMS "CLEAR STREAM" OPERATION.

THE TRIPLE CROSS of the AL QUAD known as GAIA [ONI/UST AGENT E.J. EKKER] was to "Fabricate the gold instruments, and take the entire global Banking, Financial and Economics "hostage".. It is on the recording of their meeting at the Guilarmi Hotel in Makita City Philippines and posted at
 http://www.theantechamber.net/V_K_Durham/AbusingTheCodeOfSilence.html. Open it up and Listen to the recordings.

THE FED. R. BANKING SYSTEMS entered into this agreement
 http://www.theantechamber.net/VkDocuments/DocGroupG/Gpage4.html
which was intended to collapse the other BANKING CARTELS GOLD BANKS with the "fabricated" instruments.

THE OTHER BANKING CARTELS turned the entire situation around ON THE FEDERAL RESERVE BANKING SYSTEMS. In other words "THEY REVERSED THE CHARGE/ACTIONS" and let it fall on the U.S. Fed.R./U.S. Treasury.

Snow Requests Meeting With Fed

(Conspiracy Nation, 3/17/04) -- According to a report at The Daily
Reckoning web site (www.dailyreckoning.com), Treasury Secretary John Snow
has apparently requested a meeting with all 12 "Federal" Reserve governors.
("Standing On Tiptoes and Using the Hubble Telescope -- Where's the Value?"
by Richard Daughty)

Daughty is uneasy, and wonders, "What are they up to?" This sudden meeting
"cannot be good news, and you can take it to the bank, no pun intended, that
they are going to cook something up to screw us over, in spades, as they have
no options left," warns the "Mogambu Guru."

The Daily Reckoning is one of several economically oriented web sites
tending to have gloomy assessments about the U.S. and global economy. Few,
if any, business web sites are very optimistic these days, but reports from
the independent analysts are especially blunt.

Wondering about the sudden Snow/Fed meeting, Daughty gives informed speculation
as to what it's about: Is there concern that foreign countries will decide not to loan the
U.S. more money?

Is Japan about to curtail her purchases of U.S. dollars?

Is it that Fannie Mae is over $900 billion in debt?

Is it because global derivatives total $208 trillion, more than 700
percent of global gross domestic product?

Is it because "US bonds, which are paying negative real interest rates,
are now so overvalued that there is no way that anyone holding American debt
can even SEE value, even standing on tiptoes and using the Hubble telescope"?

Is it about "the Peak Oil thing, which is that the oil reserves of
the world are peaking, or have peaked"?

In "U.S. Rates Chart a Course in Japanese History" (TheStreet.com), Howard
Simmons notices how the "Japanese experience with the 1980s bubble and its
subsequent collapse holds an eerie and even morbid fascination for American
analysts." In the 1980s, Japan was "the miracle economy" -- until the bubble
burst. Then, the Bank of Japan lowered interest rates to almost nothing --
to no avail. Simmons prognosticates based on U.S. parallels with 1980s-1990s
Japan that "we could see a spectacular selloff in bonds in the near future,
followed by a long and enduring descent to yields now unimaginable." Is this
part of the reason for Snow's reported sudden request to meet with the "Federal"
Reserve governors?

Is it because we are at a "turning point," according to an article in the
U.K. Independent? Is that why what looks like an emergency meeting is scheduled?
In the last two months, Bank of Japan intervention in propping up the U.S.
dollar has been especially "massive," writes Jeremy Warner. ("Outlook: The
Fed Can't Afford To Hold On Much Longer," independent.co.uk, March 17, 2004)
"The upshot of all this may be that the turning point, both for interest rates
and the currency markets, may already be quite close... The tectonic plates
are beginning to shift once more."

In February 1929, the public was not informed about a sudden secret meeting
between the Bank of England's Montagu Norman, "Federal" Reserve officers,
and U.S. Treasury Secretary Andrew Mellon. Author G. Edward Griffin surmises
that the banksters "had come to the conclusion that the [global financial]
bubble was probably going to rupture very soon." (The Creature From Jekyll
Island American Media, 1998. ISBN: 0-912986-21-2) Do you think they'd
tell us what was happening? Or would they keep things quiet and allow the
Insiders to quietly abandon a sinking ship?

 http://www.rumormillnews.com/cgi-bin/forum.cgi?read=46104


------- Conspiracy Nation. Think outside the box.
=============================================================================================
IT IS THOUGHT: THE INTERNATIONAL FINANCIAL SYSTEM IS FINISHED  http://www.rumormillnews.com/cgi-bin/forum.cgi?read=46124 .
NOT SO! THERE IS THE "FORCE MAJUER"of THE ONE TIME ONLY BONUS 3392 COMMODITY CONTRACT of April 27, 1875 which "Remains in effect until Paid" which is a DEBT assumed by the U.S. and later assumed by the FED. R. BANKING SYSTEMS.IF THE "FIRST ASSUMPTOR FAILS"AND THE ASSUMPTION OF "DEBT" IS ASSUMED BY A SECOND PARTY, AND THAT "ASSUMPTOR FAILS" the DEBT FALLS BACK ON THE ORIGINAL "ASSUMPTOR"...THE "VICTIM" BANKS ARE FULLY AWARE OF THIS "RULE" OF LAW...NO LEGISLATIVE ACT can repudiate the CREDITOR'S POSITION. They may AVOID DEBT PAYMENT, but they cannot ABSOLVE THEMSELVES OF THE "DEBTORS POSITION."ONLY THE CREDITOR IS IN THE POSITION TO DECIDE WHAT TO DO WITH THE "DEBTOR POSITION." That is the Rule of Law.HAVE A NICE DAY.Signed: V.K. Durham, CEO-Signatory of the Durham Holding Trust aka THE CREDITOR.


===========================================================================


Larry Summers and the Secret "End-Game" Memo
In the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3% unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.

The Treasury official playing the bankers' secret End Game was Larry Summers. Today, Summers is Barack Obama's leading choice for Chairman of the US Federal Reserve, the world's central bank. If the confidential memo is authentic, then Summers shouldn't be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.

The memo is authentic.  http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/#more-8455

CRIMINAL CONSPIRACY CURRENT FINANCIAL CRISIS AND ILLEGALLY HYPHOTICATED PROPERTY; JP Morgan Chase financial crisis

Let's take a look at some maneuvering behind the scenes by former CITIBANK officer Jamie Diamon who played the ' deceptive insider games' by being a 'background quarterback' for CITIBANK and LaSALLE BANKING GROUP/First Chicago Corp in Chicago.

Re: LaSalle Banking. [quote] Mr. Steans' 1987 deal to sell his group of local lenders to Detroit-based NBD Bancorp for $250 million in stock, at the then-unheard-of valuation of 3.3 times book value, remains legendary. Many still recall the scene when, days after the deal was announced, Mr. Steans received a spontaneous standing ovation at a meeting of the Chicago Assn. of Bankers.

"Every banker in the room was penciling his own financial statement," says Bryan Daniels, then a lender at American National Bank & Trust and now a principal of private-equity firm Prairie Capital L.P., an investor in Cole Taylor.

Mr. Steans jumped back into banking in the mid-1990s, investing in a $60-million-asset Florida lender that he built to $700 million and sold at more than four times book value in 2004 — three years before the housing bust decimated that state's economy. Mr. Steans also ran LaSalle National Bank in the 1970s, until it was sold to Dutch bank ABN Amro for $82 million in 1978.

Twenty years ago, Mr. Steans launched a family foundation focused on improving housing and education and tackling other social ills in a single city neighborhood — North Lawndale on the West Side. The Steans Family Foundation made more than $31 million in grants in the past decade and has $23 million in assets.

Family matters a great deal to Mr. Steans, a father of three successful women. In addition to Jennifer, his business partner, there's Heather Steans, a state senator from the North Side, and Robin, executive director of the non-profit Advance Illinois.

A Steans family office operates like a private-equity fund, managing $725 million in investments, mostly concentrated in five holdings — Cole Taylor, Florida-based USAmeriBancorp Inc., a Tampa, Fla.-based mortgage servicing outsourcer, Mr. Daniels' Prairie Capital and a real estate fund managed by Chicago-based Laramar Group.

The bank investments are clearly what energize Mr. Steans. He spends much of his time at Cole Taylor calling the strategic shots and scouring for deals to bulk up the $4.5-billion-asset lender's deposit base and vault it into the informal race among mid-sized local commercial banks to succeed the old LaSalle Bank (now part of Bank of America Corp.) as lead business bank in town.

Mr. Steans and Cole Taylor Bank CEO Mark Hoppe have held merger talks with troubled banks including Melrose Park-based Midwest Banc Holdings Inc. and Chicago-based Park National Bank, according to people familiar with the discussions. Both potential deals, which would have roughly doubled Cole Taylor's size, foundered in part on regulators' concerns that Cole Taylor isn't ready to deal because of its continuing loan losses. Midwest Banc is still searching for capital, while Park National was seized recently by federal regulators and sold to Minneapolis-based U.S. Bank.  link to www.chicagobusiness.com

AMB AMRO? - Feb 1, 2013 ... ABN Amro was nationalised following its abortive takeover by an international banking ... Today a dutch bank goes bust and state takes over.  http://www.dutchnews.nl/news/archives/2013/02/the_netherlands_nationalises_f.php

Apr 15, 2013 ... The largest Dutch bank, ABN AMRO, defaults on physical gold ... bank is 100% owned by the state, though as we know states also go bankrupt.

Over the past two months, there has been a concerted action by several institutions to bring down the price of gold and silver, even as other central banksfrom countries such asRussia, Iran, and China continue to accumulate the physical metal in large quantities at now "subsidized" prices. But as stated in my previous article, in the end the physical will win from the paper despite the fact that the paper market is roughly 100x bigger than the physical market. For general information the London gold market is the physical market whilst the NY market is the paper market, where most of the manipulation takes place. You have a big paper problem if people don't sell their gold despite much lower prices because ultimately the shorts have to buy their contracts back!!!! Especially if delivery is requested through the futures and if the Comex has to call a force majeure and pays in cash because there is not enough physical gold to meet the delivery requests people should pay attention! In terms of silver it looks like JP Morgan has another "Whale" in the closet because investors keep scooping up physical silver hence why delivery times are increasing. Anyway the market is definitely tightening, look at delivery times are doing and look at "Force Majeures a la ABN AMRO".

What is happening to the meaning of certain well-anchored concepts following the Cyprus affair?

What is the definition of "to save": to rescue from loss; to keep safe, intact, or unhurt; safeguard; preserve, to keep from being lost. Well ask the Cypriots if they still think that this is true! We are undermining the fundamentals on which the financial system is based: the sanctity of ownership. When politicians and (central) bankers believe they can steal your savings in order to clean up the mess they created there is something terribly wrong! Financial institutions have a special task in economies and therefore should act much more prudent with other people's money. Are they? The Troika that sanctioned the confiscation of course also supervises deposit accounts in the other European countries! So don't exclude anything!

What is the definition of property/ownership rights: The ultimate and exclusive right conferred by a lawful claim or title, and subject to certain restrictions, to enjoy, occupy, possess, rent, sell, use, give away, or even destroy an item of property. Anyway as described here above that sanctity of an ultimate and exclusive right is being challenged by the Cyprus situation and could have far reaching consequences in case of other bank or sovereign defaults. Basically the trust in the financial system has been put on a slippery slope. Politicians and banks, the creators of money, can't be trusted any longer (we knew this already for a long time) to safeguard and protect your money! Anyway the banks have become the thieves! So what does that tell you about the storage value function of money that basically is a derivative of the trust in the financial system? source  http://www.321gold.com/editorials/groenewegen/groenewegen041513.html

Jul 19, 2013. Second Dutch Bank to Follow ABN Amro, Close Gold Accounts ...

 http://www.silverdoctors.com/second-dutch-bank-to-follow-abn-amro-close-gold-accounts / -

Jul 19, 2013 ... Rabobank has just followed in the footsteps of ABN Amro which effectively ... Americans don't exactly tend to know what's going on outside America... hehe ...
As Beurs reports (via google translate), Rabobank has given no explanations for the move, simply stated that customers can no longer acquire precious metals after September 1st, and will have up to 1 year to transfer open accounts to another institution:
Rabobank grabs the slump in the gold and silver market to get rid of accounts linked to these precious metals. It follows in the footsteps of ABN AMRO that made ​​possible the delivery of physical gold and silver a few months ago. It is striking that another Dutch bank takes a decision that the liquidity of physical gold and silver limited.

August 1, 2013 By The Doc 9 Comments

The figure for custodial gold held at the BOE was reported by the BOE in June to be 4,977 tonnes "at least 400,000 400-ounce bars" taken from tour-note 2 of the new virtual tour of the gold vaults on the BoE's website. Tour-note 3 gives us the date the information was collated as June this year.
This compares with the figure at February 28 from the BoE's Annual Report of the equivalent of 505,117 bars. So it appears that at least 100,000 bars have disappeared in about four months.
Is the difference of 100,000 bars a mistake? The wording suggests not. The Bank appears to have thought that if it said in the virtual tour, "over 400,000 bars in custody" it would be sufficiently vague to be without meaning; but it is so much less than the figure in the Annual Report dated only four months earlier that it is unlikely to be a mistake.
We must therefore conclude that they meant what they said, and that some 1,300 tonnes of gold has left the vault since March 1st!


CRIMINAL CONSPIRACY CURRENT FINANCIAL CRISIS AND ILLEGALLY HYPHOTICATED PROPERTY; JP Morgan Chase financial crisis

Many years ago my dear friend told the People of the united States:
"Ask not what your Country can do for you! Ask what you can do for your Country!

September 14, 2013 I ask of you the same asked by my friend president John Fitzgerald Kennedy those many years ago. WHY!? Our Country and many other Countries stand in imminent peril of being put into Harms Way if we sit idle and do nothing about the deliberate destruction of Global Monetary Systems created by Acts in Color of All Law, alleging to be "clothed with federal powers" while violating the very laws which were put into Acts of Congress, Acts of Parliament, International Law of Nations. What are those Laws?

ASK YOURSELVES: Has there been an ongoing Federal Reserve Banking Conspiracy involved in all of this Global Financial Hostage taking?

ASK YOURSELVES AGAIN: When will the HOUSE AND SENATE STEP UP AND DO THEIR SWORN DUTY in regards to matters "Not in Compliance With Law?" OR! will these PREDATORY BANKING PRACTICES be allowed to continue Regarding the Federal Reserve and The act originally granted a charter for twenty years, to be renewed in 1933. Fortunately for the Federal Reserve System, this clause was amended on February 25, 1927 to extend the act, "To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law."[18

Do you have an idea as to the meaning of the crime of CONSPIRACY?

What is CONSPIRACY?
In criminal law. A combination or confederacy between two or more persons formed for the purpose of committing, by their joint efforts, some unlawful or criminal act, or some act which is innocent in itself, but becomes unlawful when done by the concerted action of the conspirators, or for the purpose of using criminal or unlawful means to the commission of an act not in itself unlawful. Pettibone v. U. S., 148 U. S. 197, 13 Sup. Ct. 542, 37 L. Ed. 419; State v. Slutz, 106 La. 182, 30 South. 298; Wright v. U. S., 108 Fed. 805, 48 C. C. A. 37; U. S. v. Benson, 70 Fed. 591, 17 C. C. A. 293; Girdner v. Walker, 1 Heisk. (Tenn.) 186; Boutwell v. Marr, 71 Vt. 1, 42 Atl. 607, 43 L. It. A. 803, 76 Am. St. Rep. 746; U. S. v. Weber (C. C.) 114 Fed. 950; Comm. v. Hunt, 4 Mete. (Mass.) Ill, 3S Am. Dec. 340; Erdman v. Mitchell, 207 Pa. 79, 56 Atl. 327, 63 L. R. A. 534, 99 Am. St. Rep. 7S3; Standard Oil Co. v. Doyle, US Ky. 602, 82 S. W. 271, 111 Am. St. Rep. 331. Conspiracy is a consultation or agreement between two or more persons, either falsely to ac cuse another of a crime punishable by law; or wrongfully to injure or prejudice a third person, or any body of men, in any manner; or to commit any offense punishable by law; or to do any act with intent to prevent the course of justice; or to effect a legal purpose with a corrupt intent, or by improper means. Hawk. P. C. c. 72,

Law Dictionary:  http://thelawdictionary.org/conspiracy/#ixzz2esaGzmeg

Anyway lets figure out what exactly the crime is that has been committed by the Federal Reserve Banks against the depositors or holders of physical gold "justifying" confiscation.

Confiscation of gold in 1933 by Franklin D. Roosevelt by Executive Order 6102. On April 5, 1933, during the Great Depression, President Franklin D. Roosevelt signed Executive Order 6102 "forbidding the hoarding of gold coins, gold bullion, and gold certificates within the continental United States". Roosevelt based his executive order on the 1933 Emergency Banking Relief Act, which gave the president power to curb gold hoarding in any "declared national emergency". The order was rationalized on the grounds that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse. This is reverse psychology in my point of view, you mess up and then you blame people that acted correctly in order to preserve their capital. The order criminalized the possession of monetary gold by any individual, partnership, association or corporation. Americans were forced to surrender their gold in exchange for U.S. paper currency. So people that had been frugal and saved had to pay for the mistakes of people that were irresponsible, reckless and wasteful. The people that surrendered their gold later discovered that not only would they never get their gold back, but those paper dollars would be devalued far below the intrinsic value of the confiscated gold ("L'histoire se repete?"). By the way most citizens who owned large amounts of gold had it transferred to countries such as Switzerland. But as we know the Swiss don't want to do any business with Americans any longer! The price of gold from the Treasury for international transactions was after the confiscation raised from $20.67 to $35 an ounce ($587 in 2010 dollars) resulting in an immediate loss for everyone who had been forced to surrender their gold (how much can you trust the Government?). The resulting profit that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.

This price remained in effect until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value (the French were exchanging all their dollars for gold), thus abandoning the gold standard for foreign exchange.  http://www.321gold.com/editorials/groenewegen/groenewegen041513.html

When the Southern states walked out of Congress on March 27, 1861, the quorum to conduct business under the Constitution was lost. The only votes that Congress could lawfully take, under Parliamentary Law, were those to set the time to reconvene, take a vote to get a quorum, and vote to adjourn and set a date, time, and place to reconvene at a later time, but instead, Congress abandoned the House and Senate without setting a date to reconvene. Under the parliamentary law of Congress, when this happened, Congress became sine die (pronounced see-na dee-a; literally "without day") and thus when Congress adjourned sine die, it ceased to exist as a lawful deliberative body, and the only lawful, constitutional power that could declare war was no longer lawful, or in session. :

Foreword to the Report states in part - on the National Emergency in the United States of America

Senate Report 93-549

War and Emergency Powers Acts,
Executive Orders and the New World Order

"Since March 9, 1933, the United States has been in a state of declared national emergency. In fact, there are now in effect four presidentially proclaimed states of national emergency: In addition to the national emergency declared by President Roosevelt in 1933, there are also the national emergency proclaimed by President Truman on December 16, 1950, during the Korean conflict, and the states of national emergency declared by President Nixon on March 23, 1970, and August 15, 1971.

These proclamations give force to 470 provisions of Federal law [hundreds more since 1973, particularly in the Clinton administration since Jan 21, 1993]. These hundreds of statutes delegate to the President extraordinary powers, ordinarily exercised by the Congress, which affect the lives of American citizens in a host of all-encompassing manners. This vast range of powers, taken together, confer enough authority to rule the country without reference to normal Constitutional processes.

Under the powers delegated by these statutes, the President may: seize property; organize and control the means of production; seize commodities; assign military forces abroad; institute martial law; seize and control all transportation and communication; regulate the operation of private enterprise; restrict travel; and, in a plethora of particular ways, control the lives of all American citizens." continued  http://www.barefootsworld.net/war_ep.html

You need to read the following. Researching the re-admission of the Southern Confederate States into the Union as sitting members of the U.S. House and Senate.

The Confederate States of America, or the Confederacy, was the government created by the 11 Southern states of the United States after they seceded from the Union. The Union refused to recognize the Confederacy. Jefferson Davis of Mississippi and Alexander H. Stephens of Georgia served as president and vice president, respectively, of the Confederacy. Four other slave states—Delaware, Maryland, Kentucky, and Missouri—remained in the Union. The latter two were actually represented on the Confederate flag, [a star for every state choosing the Xth Amendment Right chose the X [ V.K.D.] which, like the Stars and Stripes, featured a star for every state.  http://www.factmonster.com/ipka/A0194016.html

The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. ch. 3) is an Act of Congress that created and set up the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue Federal Reserve Notes (now commonly known as the U.S. Dollar) and Federal Reserve Bank Notes as legal tender. The Act was signed into law by President Woodrow Wilson.

For nearly eighty years, the U.S. was without a central bank after the charter for the Second Bank of the United States was allowed to expire. After various financial panics, particularly a severe one in 1907, some Americans became persuaded that the country needed some sort of banking and currency reform that would,[1] when threatened by financial panics, provide a ready reserve of liquid assets, and furthermore allow for currency and credit to expand and contract seasonally within the U.S. economy.

Some of this was chronicled in the reports of the National Monetary Commission (1909-1912), which was created by the Aldrich-Vreeland Act in 1908. Included in a report of the Commission, submitted to Congress on January 9, 1912, were recommendations and draft legislation with 59 sections, for proposed changes in U.S. banking and currency laws.[2] The proposed legislation was known as the Aldrich Plan, named after the chairman of the Commission, Republican Senator Nelson W. Aldrich of Rhode Island.

The Plan called for the establishment of a National Reserve Association with 15 regional district branches and 46 geographically dispersed directors primarily from the banking profession. The Reserve Association would make emergency loans to member banks, print money, and act as the fiscal agent for the U.S. government. State and nationally chartered banks would have the option of subscribing to specified stock in their local association branch.[2] It is generally believed that the outline of the Plan had been formulated in a secret meeting on Jekyll Island in November 1910, which Aldrich and other well connected financiers attended.[3]

Since the Aldrich Plan essentially gave full control of this system to private bankers, there was strong opposition to it from rural and western states because of fears that it would become a tool of certain rich and powerful financiers in New York City, referred to as the "Money Trust".[4] Indeed, from May 1912 through January 1913 the Pujo Committee, a subcommittee of the House Committee on Banking and Currency, held investigative hearings on the alleged Money Trust and its interlocking directorates. These hearings were chaired by Rep. Arsene Pujo, a Democratic representative from Louisiana.[5]

In the election of 1912, the Democratic Party won control of the White House and both chambers of Congress. The party's platform stated strong opposition "to the so called Aldrich bill for the establishment of a central bank." However, the platform also called for a systematic revision of banking laws in ways that would provide relief from financial panics, unemployment and business depression, and would protect the public from the "domination by what is known as the Money Trust."[6]

The Act[edit source | editbeta]
The plan adopted in the original Federal Reserve Act called for the creation of a System that contained both private and public entities. There were to be at least eight, and no more than 12, private regional Federal reserve banks (12 were established) each with its own branches, board of directors and district boundaries[9] and the System was to be headed by a seven member Federal Reserve Board made up of public officials appointed by the President and confirmed by the Senate (strengthened and renamed in 1935 as the Board of Governors of the Federal Reserve System with the Secretary of the Treasury and the Comptroller of the Currency dropped from the Board).[10] Also created as part of the Federal Reserve System was a 12 member Federal Advisory Committee[11] and a single new United States currency, the Federal Reserve Note.[12]

In the Federal Reserve Act, Congress provided that all nationally chartered banks were required to become members of the Federal Reserve System. The Act required these banks to purchase specified non-transferable stock in their regional Federal reserve banks, and to set aside a stipulated amount of non-interest bearing reserves with their respective reserve banks. Since 1980, all depository institutions have been required to set aside reserves with the Federal Reserve. Such institutions are entitled to certain Federal Reserve services.[13] State chartered banks were given the option of becoming members of the Federal Reserve System and in the case of the exercise of such option were to be subject to supervision, in part, by the Federal Reserve System.[14] Member banks became entitled to have access to discounted loans at the discount window in their respective reserve banks, to a 6% annual dividend in their Federal Reserve stock, and to other services.[15]

Section 15 of the Act also permitted Federal Reserve banks to act as fiscal agents for the United States government.[16]

Section 25 allowed banks to establish foreign branches. Citibank became the first to do so with a branch in Buenos Aires.[17]

Subsequent Amendments[edit source | editbeta]
The act originally granted a charter for twenty years, to be renewed in 1933. Fortunately for the Federal Reserve System, this clause was amended on February 25, 1927 to extend the act, "To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law."[18] (12 U.S.C. ch. 3. As amended by act of Feb. 25, 1927 (44 Stat. 1234)). By 1933 the US was in the throes of the Great Depression and public sentiment with regards to the Federal Reserve System and the banking community in general had significantly deteriorated. Given the political context, including the presidency of Franklin D. Roosevelt and the New Deal, it is uncertain whether the Federal Reserve System would have survived in its current form.

In the 1930s the Federal Reserve Act was amended to create the Federal Open Market Committee (FOMC), consisting of the seven members of the Board of Governors of the Federal Reserve System and five representatives from the Federal reserve banks (Section 12B). The FOMC is required to meet at least four times a year (the practice is usually eight times) and is empowered to direct all open-market operations of the Federal reserve banks.

During the 1970s, the Federal Reserve Act was amended to require the Board and the FOMC "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."[19] Also in that decade, the Act was amended so that the member governor proposed by the President to be Chairman would have a four-year term as Chairman and would be subject to confirmation by the Senate (member governors per se each have 14 year terms, with a specific term ending every two years) (Section 10). The Chairman was also required to appear before Congress at semi-annual hearings to report on the conduct of monetary policy, on economic development, and on the prospects for the future.[20]

The Federal Reserve Act has been amended by some 200 subsequent laws of Congress.[21] It continues to be one of the principal banking laws of the United States.

First lets take a look a look into our past regarding JP MORGAN and Wall Street Bankers. The report identified over $22 billion in resources and capitalization controlled through 341 directorships held in 112 corporations by members of the empire headed by J.P. Morgan.[

The Pujo Committee was a United States congressional subcommittee which was formed between May 1912 and January 1913 to investigate the so-called "money trust", a community of Wall Street bankers and financiers that exerted powerful control over the nation's finances. After a resolution introduced by congressman Charles Lindbergh Sr. for a probe on Wall St. power, Arsène Pujo of Louisiana obtained congressional authorization to form a subcommittee of the House Committee on Banking and Currency.

Despite the fact that lead attorney Samuel Untermyer had predetermined that no money trust would be found as part of the Investigation because "There is no agreement existing among these men that is in violation of the law" [1] and despite of the refusal of aid by the Comptroller of the Currency, the failure of the Senate pass the bill to amend section 5241 of the Revised Statutes and the lack of any authoritative decision by the courts sustaining the committee's right to access the books of the national banks, the Pujo Committee Report concluded in 1913 that a community of influential financial leaders had gained control of major manufacturing, transportation, mining, telecommunications and financial markets of the United States. The report revealed that no less than eighteen different major financial corporations were under control of a cartel led by J.P Morgan, George F Baker and James Stillman. These three men, through the resources of seven banks and trust companies (Banker's Trust Co., Guaranty Trust Co., Astor Trust Co., National Bank of Commerce, Liberty National Bank, Chase National Bank, Farmer's Loan and Trust Co.) controlled an estimated $2.1 billion. The report revealed that a handful of men held manipulative control of the New York Stock Exchange and attempted to evade interstate trade laws.

The Pujo Report singled out individual bankers including Paul Warburg, Jacob H. Schiff, Felix M. Warburg, Frank E. Peabody, William Rockefeller and Benjamin Strong, Jr.. The report identified over $22 billion in resources and capitalization controlled through 341 directorships held in 112 corporations by members of the empire headed by J.P. Morgan.[2]

Although Pujo left Congress in 1913, the findings of the committee inspired public support for ratification of the Sixteenth Amendment in 1913, passage of the Federal Reserve Act that same year, and passage of the Clayton Antitrust Act in 1914. They were also widely publicized in the Louis Brandeis book, Others People's Money--and How the Bankers Use It.[citation needed]

House of Morgan partners blamed the April 1913 death of J.P. Morgan on the stress of testifying in the Pujo hearings, though other health factors were certainly involved.[citation needed]  http://en.wikipedia.org/wiki/Federal_Reserve_Act#cite_note-H-Rept-6

15 USC § 19 - Interlocking directorates and officers | Title 15 ...

 http://www.law.cornell.edu/uscode/text/15/19 - 36k
(A) engaged in whole or in part in commerce; and ... of operation, competitors, so that the elimination of competition by agreement between them would constitute a violation of any of the antitrust laws; ... 323, § 8,38 Stat. ... References in Text.
15 USC § 19 - Interlocking directorates and officers
Current through Pub. L. 113-31. (See Public Laws for the current Congress.)

(a)
(1) No person shall, at the same time, serve as a director or officer in any two corporations (other than banks, banking associations, and trust companies) that are—
(A) engaged in whole or in part in commerce; and
(B) by virtue of their business and location of operation, competitors, so that the elimination of competition by agreement between them would constitute a violation of any of the antitrust laws;
if each of the corporations has capital, surplus, and undivided profits aggregating more than $10,000,000 as adjusted pursuant to paragraph (5) of this subsection.
(2) Notwithstanding the provisions of paragraph (1), simultaneous service as a director or officer in any two corporations shall not be prohibited by this section if—
(A) the competitive sales of either corporation are less than $1,000,000, as adjusted pursuant to paragraph (5) of this subsection;
(B) the competitive sales of either corporation are less than 2 per centum of that corporation's total sales; or
(C) the competitive sales of each corporation are less than 4 per centum of that corporation's total sales.
For purposes of this paragraph, "competitive sales" means the gross revenues for all products and services sold by one corporation in competition with the other, determined on the basis of annual gross revenues for such products and services in that corporation's last completed fiscal year. For the purposes of this paragraph, "total sales" means the gross revenues for all products and services sold by one corporation over that corporation's last completed fiscal year.
(3) The eligibility of a director or officer under the provisions of paragraph (1) shall be determined by the capital, surplus and undivided profits, exclusive of dividends declared but not paid to stockholders, of each corporation at the end of that corporation's last completed fiscal year.
(4) For purposes of this section, the term "officer" means an officer elected or chosen by the Board of Directors.
(5) For each fiscal year commencing after September 30, 1990, the $10,000,000 and $1,000,000 thresholds in this subsection shall be increased (or decreased) as of October 1 each year by an amount equal to the percentage increase (or decrease) in the gross national product, as determined by the Department of Commerce or its successor, for the year then ended over the level so established for the year ending September 30, 1989. As soon as practicable, but not later than January 31 of each year, the Federal Trade Commission shall publish the adjusted amounts required by this paragraph.
(b) When any person elected or chosen as a director or officer of any corporation subject to the provisions hereof is eligible at the time of his election or selection to act for such corporation in such capacity, his eligibility to act in such capacity shall not be affected by any of the provisions hereof by reason of any change in the capital, surplus and undivided profits, or affairs of such corporation from whatever cause, until the expiration of one year from the date on which the event causing ineligibility occurred.  http://www.law.cornell.edu/uscode/text/15/19

Let's take a look at some maneuvering behind the scenes by former CITIBANK officer Jamie Diamon who played the ' deceptive insider games' by being a 'background quarterback' for CITIBANK and LaSALLE BANKING GROUP/First Chicago Corp in Chicago.

Re: LaSalle Banking. [quote] Mr. Steans' 1987 deal to sell his group of local lenders to Detroit-based NBD Bancorp for $250 million in stock, at the then-unheard-of valuation of 3.3 times book value, remains legendary. Many still recall the scene when, days after the deal was announced, Mr. Steans received a spontaneous standing ovation at a meeting of the Chicago Assn. of Bankers.

"Every banker in the room was penciling his own financial statement," says Bryan Daniels, then a lender at American National Bank & Trust and now a principal of private-equity firm Prairie Capital L.P., an investor in Cole Taylor.



Mr. Steans jumped back into banking in the mid-1990s, investing in a $60-million-asset Florida lender that he built to $700 million and sold at more than four times book value in 2004 — three years before the housing bust decimated that state's economy. Mr. Steans also ran LaSalle National Bank in the 1970s, until it was sold to Dutch bank ABN Amro for $82 million in 1978.



Twenty years ago, Mr. Steans launched a family foundation focused on improving housing and education and tackling other social ills in a single city neighborhood — North Lawndale on the West Side. The Steans Family Foundation made more than $31 million in grants in the past decade and has $23 million in assets.

Family matters a great deal to Mr. Steans, a father of three successful women. In addition to Jennifer, his business partner, there's Heather Steans, a state senator from the North Side, and Robin, executive director of the non-profit Advance Illinois.

A Steans family office operates like a private-equity fund, managing $725 million in investments, mostly concentrated in five holdings — Cole Taylor, Florida-based USAmeriBancorp Inc., a Tampa, Fla.-based mortgage servicing outsourcer, Mr. Daniels' Prairie Capital and a real estate fund managed by Chicago-based Laramar Group.

The bank investments are clearly what energize Mr. Steans. He spends much of his time at Cole Taylor calling the strategic shots and scouring for deals to bulk up the $4.5-billion-asset lender's deposit base and vault it into the informal race among mid-sized local commercial banks to succeed the old LaSalle Bank (now part of Bank of America Corp.) as lead business bank in town.

Mr. Steans and Cole Taylor Bank CEO Mark Hoppe have held merger talks with troubled banks including Melrose Park-based Midwest Banc Holdings Inc. and Chicago-based Park National Bank, according to people familiar with the discussions. Both potential deals, which would have roughly doubled Cole Taylor's size, foundered in part on regulators' concerns that Cole Taylor isn't ready to deal because of its continuing loan losses. Midwest Banc is still searching for capital, while Park National was seized recently by federal regulators and sold to Minneapolis-based U.S. Bank.  link to www.chicagobusiness.com

AMB AMRO? - Feb 1, 2013 ... ABN Amro was nationalised following its abortive takeover by an international banking ... Today a dutch bank goes bust and state takes over.  http://www.dutchnews.nl/news/archives/2013/02/the_netherlands_nationalises_f.php

Apr 15, 2013 ... The largest Dutch bank, ABN AMRO, defaults on physical gold ... bank is 100% owned by the state, though as we know states also go bankrupt.

Over the past two months, there has been a concerted action by several institutions to bring down the price of gold and silver, even as other central banksfrom countries such asRussia, Iran, and China continue to accumulate the physical metal in large quantities at now "subsidized" prices. But as stated in my previous article, in the end the physical will win from the paper despite the fact that the paper market is roughly 100x bigger than the physical market. For general information the London gold market is the physical market whilst the NY market is the paper market, where most of the manipulation takes place. You have a big paper problem if people don't sell their gold despite much lower prices because ultimately the shorts have to buy their contracts back!!!! Especially if delivery is requested through the

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