Friday, February 22, 2013

40% of Americans Now Make Less Than 1968 Minimum Wage

You may have seen charts like the one to the right from the Economic Policy Institute, showing how working people’s wages stopped going up along with productivity gains.
This means the gains went…somewhere else. See if you can guess who got them? (Hint: it’s the 1 percent; this is one driver of the terrible income and wealth inequality.) This breakoff of wages from productivity growth is partly the result of trade agreements that pit Americans against exploited workers in non-democracies. This weakened the bargaining power of unions, moved factories and industries out of the country, devastated entire regions of our country — and gave the giant multinational corporations, Wall Street and the billionaires the leverage they needed.
Economist Dean Baker describes one effect of this in Minimum Wage: Who Decided Workers Should Fall Behind?
“If the minimum wage had risen in step with productivity growth [since 1968], it would be over $16.50 an hour today. That is higher than the hourly wages earned by 40 percent of men and half of women.”
The minimum wage would be $16.50 an hour — $33,000 a year — if it had kept up with the growth of productivity since 1968. To put the effect of this a different way, 40 percent of Americans now make less than the 1968 minimum wage, had the minimum wage kept pace with productivity gains.
To put this even another way, the average American’s living standard would be much, much higher today if wages had not decoupled from productivity gains – with the gains all going to the 1 percent instead of being shared by workers. If wages had kept pace we wouldn’t feel the terrible squeeze that everyone in the middle class is feeling.
This is one more way to understand the effect of income and wealth inequality on each of us. The 1 percent versus 99 percent thing is real. When you hear that the 6 Walmart heirs have more wealth than a third of all Americans combined, it is real. When you hear that the people on the Forbes list of the 400 wealthiest Americans have more wealth than half of all Americans combined, it is real.
And the effects on the rest of us are real.
This seems like a good time to drag out the old post, Nine Pictures Of The Extreme Income/Wealth Gap, which puts pictures on what this kind of wealth means. (This post, by the way, first explained that 400 people have as much wealth as half of all Americans combined. Michael Moore picked that up and talked about it in Madison, Wisconsin, and it rippled out from there.)
Here is another relevant post: Tax Cuts Are Theft, explaining how cutting taxes on the rich siphons off public wealth.
And of course this one: Reagan Revolution Home To Roost — In Charts.
Here are some posts on the trade deficit:
Fix The Trade Deficit, Fix The Economy.,
Yet another report is out showing how the trade deficit is costing us millions of jobs and hurting our economy. This report has specific numbers: between 2.2 million and 4.7 million U.S. jobs, between 1 percent and 2.1 percent of the unemployment rate and a gross domestic product increase of between 1.4 percent and 3.1 percent.
These are real numbers that were carefully calculated. This is a real problem that is hurting people, hurting small and mid-sized companies, hurting communities, hurting our tax base and hurting our ability to make a living in the future. And there are real solutions available to fix the problem.
Does Trade Deficit Drive Inequality?:
Job Fear From Trade Deficit Is What Happened To Jobs And The Middle Class,
The middle class is disappearing. Our economy is “hollowing out” because the money goes to the top and the people fall to the bottom. This is because we allow American companies to close factories here and open them there, shipping the same goods back here to sell in the same stores, costing jobs, companies, industries and our economy. This makes us afraid for our own jobs and afraid to make waves. By helping a few at the top get fabulously rich, China has essentially recruited our own businesses leaders to fight against our own government – and us.
Trade Deficit – One Root Of Many Problems,
You buy things till your wallet is empty. So you raid the savings account to buy more stuff. Then you get a loan, and buy more stuff. Another loan, another, you keep buying stuff… Finally you’re selling off the tools you had used to make a living. That’s where the country is now because of the huge imbalance in our trade relationships. We buy more from them than they buy from us and we have let this go on and on and on. This is the deficit we should be worried about.
The Root
Pick a national problem, and the odds are that our trade imbalance is aggravating it. Our trade deficits literally suck money out of the country. When looking up the numbers I had to double check, our annual trade deficits are so huge. In the chart below that first line under the dates represents $100 billion. Look at what happened in the late 90s, when we opened the China floodgates. (Click to enlarge):
Dave Johnson is a fellow at at the Campaign for America's future, and has more than 20 years of technology industry experience including positions as CEO and VP of marketing. His earlier career included technical positions, including video game design at Atari and Imagic. And he was a pioneer in design and development of productivity and educational applications of personal computers. More recently he helped co-found a company developing desktop systems to validate carbon trading in the U.S.

The Big Dogs On Wall Street Are Starting To Get Very Nervous, Insider Stock Sales Hit 2-Year High on Share Prices, 12 Sells To Every Buy!

by Michael
The Big Dogs On Wall Street Are Starting To Get Very Nervous - Photo by Elf at the English language Wikipedia
Why are some of the biggest names in the corporate world unloading stock like there is no tomorrow, and why are some of the most prominent investors on Wall Street loudly warning about the possibility of a market crash?  Should we be alarmed that the big dogs on Wall Street are starting to get very nervous?  In a previous article, I got very excited about a report that indicated that corporate insiders were selling nine times more of their own shares than they were buying.  Well, according to a brand new Bloomberg article, insider sales of stock have outnumbered insider purchases of stock by a ratio of twelve to one over the past three months.  That is highly unusual.  And right now some of the most respected investors in the financial world are ringing the alarm bells.  Dennis Gartman says that it is time to “rush to the sidelines”, Seth Klarman is warning about “the un-abating risks of collapse”, and Doug Kass is proclaiming that “we’re headed for a sharp fall”.  So does all of this mean that a market crash is definitely on the way?  No, but when you combine all of this with the weak economic data constantly coming out of the U.S. and Europe, it certainly does not paint a pretty picture.
According to Bloomberg, it has been two years since we have seen insider sales of stock at this level.  And when insider sales of stock are this high, that usually means that the market is about to decline…
Corporate executives are taking advantage of near-record U.S. stock prices by selling shares in their companies at the fastest pace in two years.
There were about 12 stock-sale announcements over the past three months for every purchase by insiders at Standard & Poor’s 500 Index (SPX) companies, the highest ratio since January 2011, according to data compiled by Bloomberg and Pavilion Global Markets. Whenever the ratio exceeded 11 in the past, the benchmark index declined 5.9 percent on average in the next six months, according to Pavilion, a Montreal-based trading firm.
But it isn’t just the number of stock sales that is alarming.  Some of these insider transactions are absolutely huge.  Just check out these numbers
Among the biggest transactions last week were a $65.2 million sale by Google Inc.’s 39-year-old Chief Executive Officer Larry Page, a $40.1 million disposal by News Corp.’s 81- year-old Chairman and CEO Rupert Murdoch and a $34.2 million sale from American Express Co. chief Kenneth Chenault, who is 61. Nolan Archibald, the 69-year-old chairman of Stanley Black & Decker Inc. who plans to leave his post next month, unloaded $29.7 million in shares last week and Amphenol Corp. Chairman Martin Hans Loeffler, 68, sold $27.5 million, according to data compiled by Bloomberg.
Google Chairman Eric Schmidt, 57, announced plans to sell as many as 3.2 million shares in the operator of the world’s most-popular search engine. The planned share sales, worth about $2.5 billion, represent about 42 percent of Schmidt’s holdings.
So why are all of these very prominent executives cashing out all of a sudden?
That is a very good question.
Meanwhile, some of the most respected names on Wall Street are warning that it is time to get out of the market.
For example, investor Dennis Gartman recently wrote that the game is “changing” and that it is time to “rush to the sidelines”…
“When tectonic plates in the earth’s crust shift earthquakes happen and when the tectonic plants shift beneath our feet in the capital markets margin calls take place. The tectonic plates have shifted and attention… very careful and very substantive attention… must be paid.
“Simply put, the game has changed and where we were playing a ‘game’ fueled by the monetary authorities and fueled by the urge on the part of participants to see and believe in rising ‘animal spirits’ as Lord Keynes referred to them we played bullishly of equities and of the EUR and of ‘risk assets’. Now, with the game changing, our tools have to change and so too our perspective.
“Where we were buyers of equities previously we must disdain them henceforth. Where we were sellers of Yen and US dollars we must buy them now. Where we had been long of gold in Yen terms, we must shift that and turn bullish of gold in EUR terms. Where we might have been ‘technically’ bullish of the EUR we must now be technically and fundamentally bearish of it. The game board has been flipped over; the game has changed… change with it or perish. We cannot be more blunt than that.”
That is a very ominous warning, but he is far from alone.  Just the other day, I wrote about how legendary investor Seth Klarman is warning that the collapse of the financial markets could happen at literally any time

“Investing today may well be harder than it has been at any time in our three decades of existence,” writes Seth Klarman in his year-end letter. The Fed’s “relentless interventions and manipulations” have left few purchase targets for Baupost, he laments. “(The) underpinnings of our economy and financial system are so precarious that the un-abating risks of collapse dwarf all other factors.”
Other big hitters on Wall Street are ringing the alarm bells as well.  For example, Seabreeze Partners portfolio manager Doug Kass recently told CNBC that what he is seeing right now reminds him of the period just before the crash of 1987…
“I’m getting the ‘summer of 1987 feeling’ in the U.S. equity market,” Kass told CNBC, “which means we’re headed for a sharp fall.”
And of course the “perma-bears” continue to warn that the months ahead are going to be very difficult.  For instance, “Dr. Doom” Marc Faber recently said that he “loves the high odds of a ‘big-time’ market crash“.
Another “perma-bear”, Nomura’s Bob Janjuah, is convinced that the stock market will experience one more huge spike before collapsing by up to 50%
I continue to believe that the S&P500 can trade up towards the 1575/1550 area, where we have, so far, a grand double top. I would not be surprised to see the S&P trade marginally through the 2007 all-time nominal high (the real high was of course seen over a decade ago – so much for equities as a long-term vehicle for wealth creation!). A weekly close at a new all-time high would I think lead to the final parabolic spike up which creates the kind of positioning extreme and leverage extreme needed to create the conditions for a 25% to 50% collapse in equities over the rest of 2013 and 2014, driven by real economy reality hitting home, and by policymaker failure/loss of faith in “their system”.
So are they right?
We will see.
At the same time that many of the big dogs are pulling their money out of the market, many smaller investors are rushing to put their money back in to the market.  The mainstream media continues to assure them that everything is wonderful and that this rally can last forever.
But it is important to keep in mind that the last time that Wall Street was this “euphoric” was right before the market crash in 2008.
So what should we be watching for?
As I have mentioned before, it is very important to watch the financial markets in Europe right now.
If they crash, the financial markets in the U.S. will probably crash too.
And the financial markets in Europe definitely have had a rough week.  Just check out what happened on Thursday.  The following is from a report by CNBC’s Bob Pisani
Italy, Germany, France, Spain, U.K., Greece, and Portugal all on track to log worst day since Feb. 4. European PMI numbers were disappointing, with all major countries except Germany reporting numbers below 50, indicating contraction.
What does this mean? It means Europe remains mired in recession: “The euro zone is on course to contract for a fourth consecutive quarter,” Markit, who provides the PMI data, said. A new insight is that France is now joining the weakness shown in periphery countries.
You’re giving me agita: Italy was the worst market, down 2.5 percent. The CEO of banking company, Intesa Sanpaolo, said Italy’s recession has been so bad it could cause a fifth of Italian companies to fail, noting that topline for those bottom fifth have been shrinking 35 to 45 percent. Italian elections are this weekend.
It wasn’t any better in Asia. The Shanghai Index had its worst day in over a year, closing down nearly three percent.
And the economic numbers coming out of the U.S. also continue to bequite depressing.
On Thursday, the Department of Labor announced that there were 362,000 initial claims for unemployment benefits during the week ending February 16th.  That was a sharp rise from a week earlier.
But I am not really concerned about that number yet.
When it rises above 400,000 and it stays there, then it will be time to officially become alarmed.
So what is the bottom line?
There are trouble signs on the horizon for the financial markets.  Nobody should panic right now, but things certainly do not look very promising for the remainder of the year.
Big Dog

Will Americans Soon Not Be Able To Buy, Sell Or Get A Job Without A Global ID Card?

by Michael
Global ID Card - Photo by Technocracy Inc.
A plan being pushed in Congress right now by senators from both major political parties would force all Americans to get a biometric national ID card.  It is being promoted as a key “immigration reform” measure, but the truth is that a national ID card is much more about the government’s endless appetite for more control over the American people.  If this national ID card plan is passed by Congress, you will not be able to get a job without one.  So how are you going to survive if you can’t work?  In addition, this national ID card would undoubtedly soon be used to identify us for all sorts of other purposes.  For example, have you tried to open up a bank account lately?  They make you jump through all sorts of hoops to prove that you are who you say that you are.  So what would happen if the government decided to require you to show your national ID card before opening up a bank account?  If you refused to get a card, how would you be able to function in society without a bank account?  Would you try to conduct all of your transactions in cash only?  That might work for a while.  And of course you would not be able to drive or get on a plane without your national ID card.  So forget about going anywhere.  Are you starting to get the picture?  Unfortunately, the push for a national ID card in the United States is only a small part of the overall push toward a “global ID card” that is happening all over the planet.  The eventual goal is to have a “universal ID” that every man, woman and child on the planet will be forced to take.
That is why it is so important for the American people to speak up about this.
Right now, all of the big mainstream media outlets are lining up on the side of a national ID card.  For instance, just check out this short excerpt from a recent Washington Post article entitled “The case for a national ID card“…
An effective solution would be to issue tamper-proof, biometric ID cards — using fingerprints or a comparably unique identifier — to all citizens and legal residents. Last week, bothPresident Obama and a bipartisan group of eight senators seeking immigration reform urged something along those lines, without calling it a universal national identity card. That’s a major step forward.
And of course the Wall Street Journal is reporting on this too…
Key senators are exploring an immigration bill that would force every U.S. worker—citizen or not—to carry a high-tech identity card that could use fingerprints or other personal markers to prove a person’s legal eligibility to work.
The idea, signaled only in vaguely worded language from senators crafting a bipartisan immigration bill, has privacy advocates and others concerned that the law would create a national identity card that, in time, could track Americans at airports, hospitals and through other facets of their lives.
According to investigative reporter James Tucker, there are those in the Obama administration that are optimistic that they will be able to get a national ID card through Congress now that Ron Paul has left the House of Representatives…
At a recent reception in Washington, D.C., an AMERICAN FREE PRESS source overheard Thomas E. Donilon, a White House national security advisor and past Bilderberg member, speaking of Paul’s retirement and the good chance that the global card could now be shepherded through Congress. Paul’s son, Senator Rand Paul (R-Ky.), would not object to the plan, added the individual with whom Donilon was talking. He was referring to the fact that Senator Paul has backed off from the strong pro-nationalist positions of his father because he is fantasizing about being elected president in 2016.
So will anyone in Congress step up and fight this on behalf of the American people?
Let’s hope so.
But of course there are many other large nations that are actually far ahead of the United States when it comes to implementing this global ID card scheme.
Just check out what is going on in Indonesia
Since the start of the government of Indonesia’s multi-modal biometrics-based National Electronic ID Card (e-KTP) program in August 2011, record enrollments are being achieved across the country’s population of 172 million ID-eligible residents.
More than 103 million people have been enrolled and de-duplicated in one year with 80% or 140 million residents of the eligible population already enrolled and 85% already processed. Statistics show that over 1 million de-duplication transactions are being achieved in a single day in the data center and 600,000 enrollments being achieved in a single day in the field. In addition 60 million ID cards have been printed.
And India is currently collecting biometric information on more than a billion people…
In India, a massive effort is underway to collect biometric identity information for each of the country’s 1.2 billion people. The incredible plan, dubbed the “mother of all e-governance projects” by the Economic Times, has stirred controversy in India and beyond, raising serious concerns about the privacy and security of individuals’ personal data.

The plan is moving ahead at a clip under the auspices of the National Population Register (NPR) and the Unique ID (UID) programs, separately governed initiatives that have an agreement to integrate the data they collect to build the world’s largest biometric database. Upon enrollment, individuals are issued 12-digit unique ID numbers on chip-based identity cards. For residents who lack the necessary paperwork to obtain certain kinds of employment or government services, there’s strong incentive to get a unique ID. While the UID program is voluntary, enrollment in the NPR program is mandatory for all citizens.
Are you starting to understand what is happening?
This is a global effort.
At this point, there are approximately 100 countries that now issue mandatory ID cards, and undoubtedly this campaign to gather the biometric information of every person on earth will continue to spread.
In fact, soon you may not even be able to log in to your favorite Internet sites without a fingerprint or an iris scan.
Does that sound crazy to you?
It doesn’t sound crazy to the major technology firms that are a part of the Fast Identity Online Alliance
Imagine logging on to your eBay account with your fingerprint. Or perhaps accessing your Facebook account via an iris scan.
It might seem a bit much for the average computer user, but it may not be that far off if an initiative is successful.
The use of biometric data as an added security measure is just one of the solutions being proposed by a consortium of firms who have come together to form the Fast Identity Online (FIDO) Alliance.
We live in a world that has become obsessed with information and obsessed with security.
At first, we may all just be forced to carry around ID cards, but eventually cards will not be considered to be good enough.
Cards are easily lost, they can be stolen, and they can be forged.
But what about an electronic tattoo?
Wouldn’t that be much more secure?
That is the argument that will be made.
And the advancements that have been made in the field of electronic tattooslately have got a lot of scientists very excited…
Temporary electronic tattoos could soon help people fly drones with only thought and talk seemingly telepathically without speech over smartphones, researchers say.
Does that sound “cool” to you?
That is how these changes will be marketed to the public.  They will be sold as the “hip” and “cool” things to do.
But the truth is that these electronic tattoos are incredibly dangerous.  They can receive electrical signals from your brain, and they can also send electrical signals to your brain…
The devices are less than 100 microns thick, the average diameter of a human hair. They consist of circuitry embedded in a layer or rubbery polyester that allow them to stretch, bend and wrinkle. They are barely visible when placed on skin, making them easy to conceal from others.
The devices can detect electrical signals linked with brain waves, and incorporate solar cells for power and antennas that allow them to communicate wirelessly or receive energy. Other elements can be added as well, like thermal sensors to monitor skin temperature and light detectors to analyze blood oxygen levels.
This is very frightening stuff.
But most people just do whatever the “authorities” tell them to do without thinking about it.
So will you take a national ID card if Congress requires you to?
Will you take an electronic tattoo on your hand or your forehead someday if the authorities require it for “security” reasons?
The control freaks that run things just love to find new ways to watch us, track us and control us.
For example, just check out what is going on in New York City.  The following is from a recent article in the Telegraph
Created by Microsoft and the New York Police Department, the Domain Awareness System, known as “the dashboard,” is state-of-the-art crime fighting technology.
“The dashboard,” instantaneously mines data from the NYPD’s vast collection of arrest records, emergency 911 calls, more than 3,000 security cameras, license plate readers and portable radiation detectors and aggregates it into a user-friendly, readable form in the control room.
Eventually, that data will be able to be seen in real time by officers on laptops in their squad cars and on mobile devices as they walk their beat.
Could you imagine how much more intrusive such a system would be if “national ID cards” were constantly feeding information about all of us into their computers?
But the “authorities” insist that all of this “security” is making life so much “better” and “safer” for all of us.
Well, what about for 3-year-old Lucy Schulte?
She is a sweet little disabled girl in a wheelchair that has Spina bifida.  Recently she was getting ready to get on a plane to go to Disney World, but TSA workers decided that she was a potential terrorist and so they manhandled her and confiscated her stuffed toy.
You can see very disturbing video of this incident below…

Is this really want we want America to become?
For much more on how America is being transformed into a Big Brother police state, please see the following article: “29 Signs That The Elite Are Transforming Society Into A Total Domination Control Grid“.
So what do you think about all of this?
Do you believe that a global ID card is a good idea or a bad idea?
Would you take a national ID card if Congress made it mandatory?
Please feel free to post a comment with your thoughts below…

Heinz Insider Trading Came From Goldman Sachs Account

Another black eye for Blankfein.
Suspicious Heinz Trading Came From Goldman Sachs Account
The SEC on Feb. 15 sued “unknown” traders over suspicious trading of Heinz’s options through an account at Goldman Sachs.  The New York-based bank told SEC senior counsel Megan Bergstrom that the account holder is a Zurich private wealth client.
The unidentified traders are “foreign traders and trade through a foreign account."
U.S. District Judge Jed Rakoff, who is presiding over the case, temporarily froze the assets in the account on Feb. 15 at the SEC’s request.
The SEC yesterday asked Rakoff to keep the assets frozen until the case is resolved, saying there is a “serious risk that the substantial proceeds from the defendants trading will leave the jurisdiction of the U.S. courts in the next few days and may never be recovered,” according to a court filing.
The defendants, using the Goldman Sachs account, invested almost $90,000 in option positions the day before the deal was announced, the SEC said. As a result, their position increased to more than $1.8 million, a rise of almost 2,000 percent.
The SEC said that the traders had advance material nonpublic information about the impending deal when they used an omnibus account in Zurich to buy 2,533 out-of-the-money June call options, which had a strike price of $65 on Feb. 13. Shares closed that day at $60.48.
Continue reading...

This week's Barron's Cover by William Banzai7...

Paper Money Kaput? Gold rush on rise as Europe crisis deepens


Schiff spent millions to help the Communists takeover Russia.
In a speech before the Chamber of Commerce, Zionist banking mogul and Rothschild ally Jacob Schiff warns:
"Unless we have a Central Bank with control of credit respources, this country is going to undergo the most severe and far reaching money panic in its history." (here)
Panic and bank runs in New York!
The big New York Bankers have artificially inflated the stock market with easy loans. When lending is suddenly tightened, the bubble bursts. Stocks crash 50% and bank runs follow. The Zionist New York Times and the Wall Street bankers use The Panic of 1907 to make their case for a European style Central Bank (as Karl Marx envisioned)
Senator Owen smelled the rat!
Four years after the 07 Panic, Senator Robert Owen of Oklahoma will demand an investigation into the sudden crash. He insists that the Panic was deliberately engineered:
"(The Panic) was brought about by a deliberate conspiracy for the enrichment of those who engineered it....I regard it as treason against the United States....a few men control the power of expanding or contracting credits. This unrestrained power means the power to create panics and coerce this country politically."
TR was a blustering loudmouth tool of the Banksters.
Zio sock puppet - President Theodore Roosevelt, appoints a "bi-partisan" National Monetary Commission to study the causes of the Panic and to make suggestions. The Chairman of the Commission is Senator Nelson Aldrich (who's daughter will one day be the mother of the 5 Rockefeller sons, David, John III, Nelson, Winthrop, & Lawrence)
Senator Aldrich was an in-law of the Rockefellers. Grandson David ran Trilateral Commission and CFR.
The main recommendation of Aldrich's National Monetary Commission is to establish a Central Bank with monopoly control of credit and currency issue. The privately owned Bank would create money out of thin air and lend it local banks and the government at interest.
Paul Warburg; Father of The Fed; America's Central Bank.
Aldrich, Paul Warburg, and other agents of the Rockefeller & Rothschild dynasties meet secretly at JP Morgan's private club in Jekyll Island, Georgia. One of the conspirators, Frank Vanderlip, will, years later, reveal to The Saturday Evening Post:
"There was an occasion, near the close of 1910, when I was as secretive, indeed, as furtive as any conspirator. ... We were trying to plan a mechanism that would correct the weaknesses of our banking system as revealed under the strains and pressures of the Panic of 1907. I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System. … Discovery, we knew, simply must not happen, or else all our time and effort would be wasted. If it were to be exposed publicly that our group had gotten together and written a banking bill, that bill would have no chance whatever of passage by Congress."
2010: Greenspan & Bernanke visit Jekyll Island on the 100th anniversary of the meeting!
The Bansters OPENLY celebrate the 100th anniversary of the conspiratorial meeting at Jekyll Island. Fed Chairman Ben Bernanke and Ex Chairman Alan Greenspan are both in attendance at the conference entitled "A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve" - held exactly 100 years after the original 1910 meeting, and in the exact same building.

Charles Lindbergh Sr. and his famous son.
Senator Aldrich introduces a bill to establish a Central Bank (The Aldrich Bill). The scheme (hatched at Jekyll Island) is transparent, and Aldrich's name is too closely linked to the Money Masters of New York. Congressman Charles A Lindbergh Sr. (father of the famous aviator) declares:
The Aldrich Plan is the Wall Street Plan. It means another panic, if necessary, to intimidate the people. Aldrich, paid by the government to represent the people, proposes a plan for the trusts instead.”
Opposition to Aldrich's scheme is so strong, that the bill to create a Central Bank is never even brought to the floor for a vote.
An anti Central Bank cartoon from 1912!
A few cosmetic changes are made to the old Aldrich Bill and the bill is renamed 'The Federal Reserve Act'. Congresman Lindbergh is not fooled:
“This is the Aldrich Bill in disguise ....This Act establishes the most gigantic trust on earth. When the President signs this bill, the invisible government by the Monetary Power will be legalized. The people may not know it immediately, but the day of reckoning is only a few years removed. The worst legislative crime of the ages is perpetrated by this banking bill.”
The bill passes anyway, on Decemeber 23, after many Senators and Congressmen had left town for Christmas Break! Puppet President Woodrow Wilson quickly signs the bill creating the privately owned Federal Reserve System. Weeks earlier, Wilson had already enacted the nation's first Income Tax (needed to pay interest to the bankers after they set up their Central Bank!)
The counterfeiting, insider trading, loan sharking, Globalist Money Masters now control America, and have ever since. To better understand how 'The Fed' rapes America, read the ENTERTAINING allegorical tale entitled: .
THE GREAT TOMATO BUBBLE .....and PLEASE support the continued publication and distribution of our work with whatever donation you can afford.