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governmnet reform

Great Depression and socialism

When Big Government Saved America


"Irving Fisher, advocated the stamp-scrip (demurrage) system as the way out of the Great Depression: "The correct application of stamp scrip would solve the depression crisis in the US in three weeks!"

Other economists agreed, but pointed out to Treasury Undersecretary Dean Acheson possible decentralizing political effects.

Roosevelt responded by banning all emergency currencies, choosing instead the centralized solution of the New Deal." - Charles Eisenstein


1903  Tax exempt foundations begin pushed the ideology of socialism.

1928   FDR selected governor of New York.

Many of the worst banking scandals occur under FDR's governorship.





"In practice, the Federal Reserve Bank of New York became the fountainhead of the system of twelve regional banks, for New York was the money market of the nation.

The other eleven banks were so many expensive mausoleums erected to salve the local pride and quell the Jacksonian fears of the hinterland.

Benjamin Strong, president of the Bankers Trust was selected as the first Governor of the Federal Reserve Bank of New York.

Adept in high finance, Benjamin Strong for many years manipulated the country's monetary system at the discretion of directors representing the leading New York banks.

Under Benjamin Strong, the Reserve System was brought into interlocking relations with the Bank of England and the Bank of France.

Benjamin Strong held his position as Governor of the Federal Reserve Bank of New York until his sudden death during a Congressional investigation of the secret meetings in 1928 between Reserve Governors and heads of European central banks which brought on the Great Depression of 1929-31." - Ferdinand Lundberg


October 29, 1929

Share prices on the New York Stock Exchange collapse.

Milton Friedman and Anna Jacobson Schwartz argue in, "A Monetary History of the US," the single biggest cause of the Great Depression was that the Federal Reserve let the money supply fall by one-third, causing deflation.

"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it." - Ben Shalom Bernanke, 2002 birthday tribute to Milton Friedman

Banks are allowed to fail in the same way that Lehmann Brothers was allowed to fail September 15, 2008 causing a credit crisis.

"It was not accidental. It was a carefully contrived occurrence. The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all." - Louis T. McFadden


1931   Gerald Swope, an avid reader of Edward Mandell House, presents a proposal for recovery, the "Swope Plan".

Swope's plan becomes Roosevelt's "New Deal".

Backed by the same industrialists the New Order of Adolf Hitler is the same as Roosevelt's New Deal - plans for a corporate state.

Gerard Swope*, Owen Young, and A. Baldwin of General Electric in the US were directors of AEG.

General Electric helps finance the Bolshevik Expansion.

Executive offices of General Electric are at 120 Broadway, New York.

When FDR is working on Wall Street, his address is 120 Broadway.

The Roosevelt Warm Springs Institute for Rehabilitation and the Franklin D Roosevelt Foundation is located at 120 Broadway.

The most prominent financial backer of an earlier Roosevelt Wall Street venture from 120 Broadway is Gerard Swope of General Electric.



Three New Deals: Why the Nazis and Fascists Loved FDR



1933 "The smart thing to do would be to go off the Gold Standard a little farther than England has done." - Henry Agard Wallace, January 31, 1933

Roosevelt takes office, defaults on the debt and takes the US off the Gold Standard.

"By February 19, gold withdrawals from banks increased from five to fifteen million dollars a day.

In two weeks $114,000,000 of gold was taken from banks for export and another $150,000,000 was withdrawn to go into hiding.

The infection of fear was everywhere.

Factories are closing.

Unemployment is rising rapidly.

Bank closings multiplied daily." - John T. Flynn


Gold confiscation order pays Americans $20.67 an ounce.

The world price of gold has been set since 1810 in the private bank of NM Rothschild & Sons in London, at 11:00 a.m., on a daily basis.

Paul Warburg and his partners put their money into gold at $20.67 before the stockmarket crash and ship it to London.

The official price of gold is then raised to $35 per ounce.

They then ship it back and sell it to the US Government for the new higher price of $35 per ounce for a profit of $14.33 on every ounce.

(Baron David de Rothschild withdrew NM Rothschild from the gold market in 2005 shortly after this posting.)

Americans with gold were paid $20.67 per ounce and those that refused to surrender their gold were given a ten year prison sentence.

To store the confiscated gold Fort Knox is built.

German General Electric (Deutsche Edison-Gesellschaft für angewandte Elektrizität) is a prominent financier of Adolf Hitler and the Nazi Party both directly and indirectly through Osram.

International General Electric in New York is a major participant in the ownership and direction of both AEG and Osram.

"I regard the condition of the country the most serious in its history. The mere talk of inflation retards business. If you start talking about that you would not have a nickel's worth of gold in the Federal Reserve the day after tomorrow." - Bernard Baruch, February 11, 1933


"One of the key Roosevelt advisors is Bernard Baruch, a power in the Wilson Administration." - Jewish Examiner of Brooklyn, October 20, 1933

June

Climax with the enactment of the National Industrial Recovery Act in the first 100 days of presidency.

Hugh S. Johnson, Raymond Moley, Donald Richberg, Rexford Tugwell, Jerome Frank, and Bernard Baruch - key Roosevelt advisors - claimed unrestrained competition caused the Great Depression.

They claimed the government had a critical role to play through national planning, regulation, the fostering of trade associations, support for "fair" trade practices and support for "democratization of the workplace".

The New Deal - a program of central control, collectivism, similar to fascism, communism and corporatism - is accepted by the American people as a viable alternative to the rugged individualism of early Americans.

Roosevelt institutes a disastrous legacy of agricultural subsidies and seeks to cartelize industry.

"It was a crime against our civilization to pay farmers in two years $700,000,000 to destroy crops and limit production. It was a shocking thing to see the government pay one big sugar corporation over $1,000,000 not to produce sugar." - John T. Flynn

Roosevelt took steps to strengthen unions and to keep real wages high.

This helped workers who had jobs, but made it much harder for the unemployed to get back to work.

One result is unemployment rates remained high for the duration of the New Deal period.

Under Herbert Hoover and continuing with Roosevelt, the federal government increases income taxes, excise taxes, inheritance taxes, corporate income taxes, holding incorporation taxes and "excess profits" taxes.

The New Deal, "new economic order," is not a creature of classical liberalism but a creature of corporate socialism or corporatism.

Big business, as reflected in Wall Street, strived for a state order in which they could control industry and eliminate competition.

This is the core of the New Deal.

No one knows who was responsible for the gold confiscation order.

No Congressman ever claimed having written it, Franklin Delano Roosevelt stated he had not written it, nor had he even read it.

Secretary of the Treasury, William H. Woodin, claimed he'd never read it either. It was, he stated, "What the experts wanted."





1934   Retired Marine Corps Major General Smedley Butler testifies before the Congressional McCormack-Dickstein Committee that Wall Street bankers including Guaranty Trust director Grayson Murphy, JP Morgan, DuPont, Remington Arms, and other interests are plotting to create a fascist veterans' organization with Butler as its leader to use in a coup d'état to overthrow FDR.

1935   Supreme Court unanimously declared the National Recovery Administration unconstitutional.

The National Recovery Administration is headed by Hugh Johnson a business associate of Bernard Baruch - a financial supporter of Red Zionism.

The National Recovery Administration allowed industries to create "codes of fair competition" set minimum wages and maximum weekly hours while also allowing industry heads to collectively set minimum prices.

"The National Recovery Administration worked by fostering giant cartels, which made products artificially expensive and punished small business trying to compete against big business. The general lesson is that government sponsored cartels don't help the economy as a whole. " - Robert P. Murphy

1937   FED increased reserve requirements for banks, thereby curbing lending and moving the economy back to dangerous deflationary pressures.

Henry Wallace becomes Secretary of Agriculture in Roosevelt's cabinet.

Wallace orders the slaughtering of pigs and plowing up of cotton fields in rural America to drive up the price of these commodities.

"The American fascist would prefer not to use violence. His method is to poison the channels of public information." - Henry Agard Wallace

September 2, 1939   Whittaker Chambers informs Adolf Augustus Berle, Jr. that several senior government officials, including Alger Hiss are members of a Soviet "apparatus" designed to influence US policy and pass classified documents and information to the Soviets.

Adolf Augustus Berle, Jr. told Chamber's that he and journalist, Isaac Don Levine, met with Roosevelt and conveyed what Chambers told them, but Roosevelt unequivocally refused to take any action.

Alger Hiss remains at the State Department throughout WWII in positions as Roosevelt's principal adviser on Soviet affairs at the Yalta conference, as a delegate to the Dumbarton Oaks Conference and as Secretary General of the San Francisco conference establishing the United Nations.

1941   Roosevelt names Henry Agard Wallace chairman of the Board of Economic Warfare (BEW) and of the Supply Priorities and Allocations Board (SPAB).

1944   Henry Agard Wallace is wined and dined in Siberia by Sergei Goglidze and Dalstroi director Ivan Nikishov, both NKVD generals.

Henry Agard Wallace becomes a staunch supporter of the Soviet Union.

Wallace is endorsed by the Communist Party (USA).

Subsequent refusal to publicly disavow any Communist support costs him the backing of anti-Communist liberals in the 1948 presidential election.

"I reached a conclusion, under no circumstances, have any business dealings with him." - Henry Agard Wallace after getting to know FDR

"The outright ownership of farms ought to be greatly restricted.

Under intelligent state control it should be possible to introduce a planned flexibility into the congestion and rigidity of our outmoded system." - Rexford Tugwell Undersecretary of Agriculture



executive order 9066

Japanese-American Internment in WWII

Hitler's American Business Partners

Dorothea Lange’s Censored Photographs

The Best Enemies Money Can Buy
-- Soviet Russia and Nazi Germany --
Antony Sutton




impressive


"I know of no severe depression, in any country or any time that was not accompanied by a sharp decline in the stock of money, and equally of no sharp decline in the stock of money that was not accompanied by a severe depression." - Milton Friedman


May 2007 Federal Reserve reports assets of about $836 billion, 92% of them are the marketable securities.

By the spring of 2008 the values of marketable securities had dropped to $500 billion and total asset value had remained level until September of 2008.

September 2008 The Federal Reserve allows the Monetary Base to increase from $836 billion to $1,479 billion.


By December 2008 95% of the Federal Reserve "assets" are toxic collateralized debt obligations.


December 16, 2008

Federal Reserve cuts interbank lending rate to a range of 0% to .25%.


"The banks have exchanged $2 trillion in toxic debt consisting of Asset-Backed Securities in sub-prime mortgages, stocks and other high-risk credits in exchange for cash and US Treasury bonds.

The Federal Reserve is holding some $2 trillion in toxic debt.

Any release of information is opposed as that might signal 'weakness' and spur short selling or a run by depositors.

The Federal Reserve does not want to discuss this.

That is clearly also behind their blunt refusal to reveal the nature of their $2 trillion assets acquired from member banks and other financial institutions.

Simply put, were the Fed to reveal to the public precisely what 'collateral' they held from the banks, the public would know the potential losses that the government may take." - F. William Engdahl 12/17/08


The interest tab to finance federal government expenditures is $412 billion in fiscal year 2008, or about one-third of the federal government total income from personal income taxes which was $1,220 billion.



fungible assets


"The Fed Open Market Committee authorized $300 billion in purchases of long term treasury bonds for six months.

The central bank's latest efforts may help swell its balance sheet to more than $4 trillion this year." - Scott Lanman, March 25, 2009

"The Federal Reserve, like other regulators around the world, did not do all that it could have to constrain excessive risk-taking in the financial sector in the period leading up to the crisis." - Ben Salom Bernanke Sunday, November 29, 2009

January 2009 Federal Reserve reports assets of $2.1 trillion, an increase of $1.2 trillion from September 2008.

That represents loans worth $1.2 trillion - a startling increase more than doubling the size of the Monetary Base during the last quarter of 2008.

Ben Gisin, a former banker tracking statistical releases, says he has never seen anything like it.

Fungible assets magically appeared on the balance sheet of the Federal Reserve.

The Federal Reserve is paying out roughly $400 million a year for "research" - much of it to outside economists who then advocate for the Federal Reserve agenda without disclosing their Federal Reserve ties.

Seven of the eight economists on a 2009 anti-oversight letter to Congress failed to note they are or were on the payroll of the Federal Reserve.

The Federal Reserve "so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the economic profession."



faux economic theories


"Under a misguided set of international rules that took hold late 1990s, banks were allowed to set their capital requirements." - Joe Nocera


"To understand the real cause of the credit crisis and how it can be reversed, we first need to understand credit itself what it is, where it comes from, and what the real tourniquet is that has limited its flow.

Banks actually create credit; and if private banks can do it, so could public banks or public treasuries.

The crisis is not one of "liquidity" but of "solvency."

It has been caused, not by the banks' inability to get credit (something they can create with fungible accounting entries), but by their inability to meet the capital requirement imposed by the Bank for International Settlements, the private foreign head of the international banking system.

What actually constrains bank lending is the capital adequacy requirement, something that is imposed not by our own central bank but by the Bank for International Settlements.

Called "the central bankers" central bank, the BIS pulls the strings of the private international banking system from Basel, Switzerland." - Ellen Brown


"The Federal Reserve does not need slinky women in plunging necklines to peddle money.

All it needs is low interest rates.

When rates are pushed lower than the rate of inflation, the Fed provides a subsidy for borrowing.

If I offered to give you $1.00 for every 90 cents you gave me in return, you would buy as many dollars from me as you could.

The Fed operates the same way.

It generates market activity by creating incentives for borrowing.

Borrowing leads to speculation, and speculation leads to steadily rising asset prices or asset price inflation.

The Fed is not an unbiased observer of free market activity.

The Fed drives the market by fueling speculation and controlling investment behavior by fixing interest rates.

The Fed IS the market, which is why it is foolish to talk about a "recovery".

The idea of recovery implies a free-standing system based on supply and demand.

The bottom line, is that the current financial architecture is not designed to work; it is designed to make a handful of speculators very rich.

These speculators own congress, the White House and the financial media, which is why there has been no meaningful change in regulations." - Mike Whitney



Inflation: It's A Wealth Redistribution Scheme


"The Federal Reserve will ask a US appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in US history." - David Glovin 01/11/10

Freedom of Information Act requires federal agencies to make government documents available to the press and public.

US District Judge Loretta Preska notes in her August 24, 2009 ruling that loan records are covered by Freedom of Information Act and rejected the claim that their disclosure might harm banks and shareholders.

"The Fed speculates on how a borrower might enter a downward spiral of financial instability if its participation in the Federal Reserve lending programs were to be disclosed. Conjecture, without evidence of imminent harm, simply fails to meet the board's burden of proof." - US District Judge Loretta Preska

In its appeal, the Board of Governors of the Federal Reserve System argued that disclosure of "highly sensitive" documents, including 231 pages of daily lending reports, threatens to stigmatize lenders and cause them "severe and irreparable competitive injury."



eurozone foreclosures


"The stock of money, prices and output was decidedly more unstable after the establishment of the Federal Reserve than before.

Any system which gives so much power and so much discretion to a few men is a bad system. " - Milton Friedman

"The outbreak of the current crisis and its spillover in the world have confronted us with a long-existing but still unanswered question, i.e., what kind of international reserve currency do we need to secure global financial stability and facilitate world economic growth, which was one of the purposes for establishing the International Monetary Fund?

There were various institutional arrangements in an attempt to find a solution, including the Silver Standard, the Gold Standard, the Gold Exchange Standard and the Bretton Woods system.

The above question, however, as the ongoing financial crisis demonstrates, is far from being solved, and has become even more severe due to the inherent weaknesses of the current international monetary system.

Theoretically, an international reserve currency should first be anchored to a stable benchmark and issued according to a clear set of rules, therefore to ensure orderly supply; second, its supply should be flexible enough to allow timely adjustment according to the changing demand; third, such adjustments should be disconnected from economic conditions and sovereign interests of any single country.

The acceptance of credit-based national currencies as major international reserve currencies, as is the case in the current system, is a rare special case in history.

The crisis again calls for creative reform of the existing international monetary system towards an international reserve currency with a stable value, rule-based issuance and manageable supply, so as to achieve the objective of safeguarding global economic and financial stability.

Issuing countries of reserve currencies are constantly confronted with the dilemma between achieving their domestic monetary policy goals and meeting other countries' demand for reserve currencies.

On the one hand, the monetary authorities cannot simply focus on domestic goals without carrying out their international responsibilities, on the other hand, they cannot pursue different domestic and international objectives at the same time.

They may either fail to adequately meet the demand of a growing global economy for liquidity as they try to ease inflation pressures at home, or create excess liquidity in global markets by stimulating domestic demand.

The Triffin Dilemma, i.e., the issuing countries of reserve currencies cannot maintain the value of the reserve currencies while providing liquidity to the world, still exists.

The frequency and increasing intensity of financial crises following the collapse of the Bretton Woods system suggests the costs of such a system to the world may have exceeded its benefits.

Nixon Ends Bretton Woods International Monetary System

The desirable goal of reforming the international monetary system is to create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies.

The International Monetary Fund creates the Special Drawing Rights when the defects of the Bretton Woods system initially emerge to mitigate the inherent risks sovereign reserve currencies cause.

A super-sovereign reserve currency managed by a global institution can be used to both create and control global liquidity.

When a country's currency is no longer used as the yardstick for global trade and as the benchmark for other currencies, the exchange rate policy of the country would be far more effective in adjusting economic imbalances.

This will significantly reduce the risks of a future crisis and enhance crisis management capability.

Special consideration should be given to giving the Special Drawing Rights (SDR) a greater role.

The SDR has the features and potential to act as a super-sovereign reserve currency.

Moreover, an increase in SDR allocation would help the Fund address its resources problem and the difficulties in the voice and representation reform.

Therefore, efforts should be made to push forward a SDR allocation.

The scope of using the SDR should be broadened, so as to enable it to fully satisfy the member countries' demand for a reserve currency.

The SDR, which is now only used between governments and international institutions, could become a widely accepted means of payment in international trade and financial transactions.

The allocation of the SDR can be shifted from a purely calculation-based system to a system backed by real assets, such as a reserve pool, to further boost market confidence in its value.

Entrusting part of the member countries' reserve to the centralized management of the IMF will not only enhance the international community's ability to address the crisis and maintain the stability of the international monetary and financial system, but also significantly strengthen the role of the SDR.

With its universal membership, its unique mandate of maintaining monetary and financial stability, and as an international "supervisor" on the macroeconomic policies of its member countries, the IMF, equipped with its expertise, is endowed with a natural advantage to act as the manager of its member countries' reserves." - Zhou Xiaochuan, governor of the People's Bank of China 03/23/09





unique library index

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This website defines a new perspective with which to engage reality to which its author adheres. The author feels that the falsification of reality outside personal experience has forged a populace unable to discern propaganda from reality and that this has been done purposefully by an international corporate cartel through their agents who wish to foist a corrupt version of reality on the human race. Religious intolerance occurs when any group refuses to tolerate religious practices, religious beliefs or persons due to their philosophical ideology. This web site marks the founding of a system of philosophy named The Truth of the Way of the Lumière Infinie - a rational gnostic mystery religion based on reason which requires no leap of faith, accepts no tithes, has no supreme leader, no church buildings and in which each and every individual is encouraged to develop a personal relation with the Creator and Sustainer through the pursuit of the knowledge of reality in the hope of curing the spiritual corruption that has enveloped the human spirit. The tenets of The Truth of the Way of the Lumière Infinie are spelled out in detail on this web site by the author. Violent acts against individuals due to their religious beliefs in America is considered a "hate crime."

This web site in no way condones violence. To the contrary the intent here is to reduce the violence that is already occurring due to the international corporate cartels desire to control the human race. The international corporate cartel already controls the world central banking system, corporate media worldwide, the global industrial military entertainment complex and is responsible for the collapse of morals, the elevation of self-centered behavior and the destruction of global ecosystems. Civilization is based on coöperation. Coöperation does not occur at the point of a gun.

American social mores and values have declined precipitously over the last century as the corrupt international cartel has garnered more and more power. This power rests in the ability to deceive the populace in general through corporate media by pressing emotional buttons which have been preprogrammed into the population through prior corporate media psychological operations. The results have been the destruction of the family and the destruction of social structures that do not adhere to the corrupt international elites vision of a perfect world. Through distraction and coercion the direction of thought of the bulk of the population has been directed toward solutions proposed by the corrupt international elite that further consolidates their power and which further their purposes.

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