Uploaded by YouAskedAZ on Feb 26, 2011
‘’What’s happening as the congress raises the debt ceiling explained in a very easy to understand and short video. Congress will consider rasing the debt ceiling on our borrowing streak for the 78th time in less than a hundred years and as the debt goes up so does the interest on the debt. No one in their right mind would do this, but Congress does because it’s not their personal money or debt and it allows them to continue to spend and remain in power.’’
THERE IS MORE..
Years ago I read William Greider’s excellent book published in 1987 on how the US Federal Reserve System works. It was detailed and explicit and makes wonderful and informative reading, except for the solution he suggests to a huge problem. His was far too timid. This article proposes a much different one. Greider called his book Secrets of the Temple with a sub-title: How the Federal Reserve Runs the Country. A better sub-title might have been how the Fed (and other key central bankers) runs the world. This article attempts to summarize what it does, how it does it, for whose benefit and at whose expense. For those who don’t know, prepare for some stunning information and commentary.
Let’s be clear at the outset. The US Federal Reserve, Bank of England, Bank of Japan and the European Central Bank (for the 12 European countries that adopted the single euro currency in 1999) are institutions with enormous power far beyond what most people everywhere can imagine. These most dominant of all central banks, as well as most others, have a powerful influence on the financial conditions in virtually all countries including their own, of course, in an increasingly borderless financial world where a significant economic event in one nation can affect most others for better or worse.
One other powerful bank is also part of today’s financial world. It needs mentioning because of its importance, even though it requires a separate article to explain how it works more fully. It’s the secretive, inviolable and accountable to no one Bank of International Settlements (BIS) founded in 1930 and based in Basle, Switzerland. This bank most people never heard of is the central banker to its member central banks – a sort of banking “boss of bosses” equivalent to what apparently exists in the shadowy world of Mafia dons. Like most other central banks, including the Federal Reserve (explained below), it’s privately owned by its members.
It’s believed by some academicians and others who’ve studied the BIS that the ruling elite of financial capitalism established this bank of banks to be the apex of power to exercise authority over a world financial system owned and controlled by them. It’s thought their plan was to use this bank to dominate the political system of every country and control the world economy in a feudalistic fashion. In a word, the thinking goes that these super-elite want to rule the world by controlling its money, and they set up this supranational all-powerful bank of banks to do it. As important as that is, that discussion remains for another time as the intent of this article is to focus solely on the US Federal Reserve.
MORE TO READ AT..
AUSTRALIA HAS ITS OWN HEIST
‘’There is clear and ample evidence, prima facie evidence, that corruption is widespread in Australia’s leading banks. In several cases it has been condoned and even aided and abetted at the highest level of the Australian government. Those ministers in authority, who were responsible for action against criminal activity, have ignored potent evidence when it has been put before them. They are now, intentionally or unintentionally, part of a huge conspiracy of silence which when it breaks will reveal indifference, cronyism, corruption and moral weakness on a grand scale.’’
This Blogger Welcomes Comments…