https://www.youtube.com/watch?v=M905sWCMEEA
PEOPLE LIKE SCHIFF & RON PAUL WANT TO BLAME THE GREEK PEOPLE FOR THEIR FINANCIAL CRISIS, BUT THE TRUTH IS MUCH MORE SINISTER: THE CONFIDENTIAL MEMO AT THE HEART OF THE GLOBAL FINANCIAL CRISIS
The Memo confirmed every conspiracy freak’s fantasy: that 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.
The Treasury official playing the bankers’ secret End Game was Larry Summers.
The memo is authentic.
I had to fly to Geneva to get confirmation and wangle a meeting with the Secretary General of the World Trade Organisation, Pascal Lamy. Lamy, the Generalissimo of Globalisation, told me,
“The WTO was not created as some dark cabal of multinationals secretly cooking plots against the people… We don’t have cigar-smoking, rich, crazy bankers negotiating.”
Then I showed him the memo.
It begins with Larry Summers’ flunky, Timothy Geithner, reminding his boss to call the Bank bigshots to order their lobbyist armies to march:
“As we enter the end-game of the WTO financial services negotiations, I believe it would be a good idea for you to touch base with the CEOs…”
To avoid Summers having to call his office to get the phone numbers (which, under US law, would have to appear on public logs), Geithner listed the private lines of what were then the five most powerful CEOs on the planet. And here they are:
Goldman Sachs: John Corzine
Merrill Lynch: David Kamanski
Bank of America: David Coulter
Citibank: John Reed
Chase Manhattan: Walter Shipley
The year was 1997. US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks. That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks. It was like replacing bank vaults with roulette wheels.
Second, the banks wanted the right to play a new high-risk game: “derivatives trading”. JP Morgan alone would soon carry $88 trillion of these pseudo-securities on its books as “assets”.
Deputy Treasury Secretary Summers (soon to replace Rubin as Secretary) body-blocked any attempt to control derivatives.
But what was the use of turning US banks into derivatives casinos if money would flee to nations with safer banking laws?
The answer conceived by the Big Bank Five: eliminate controls on banks in every nation on the planet — in one single move. It was as brilliant as it was insanely dangerous.
How could they pull off this mad caper? The bankers’ and Summers’ game was to use the Financial Services Agreement (or FSA), an abstruse and benign addendum to the international trade agreements policed by the World Trade Organisation.
The new FSA pulled the lid off the Pandora’s box of worldwide derivatives trade. Among the notorious transactions legalised: Goldman Sachs (where Treasury Secretary Rubin had been co-chairman) worked a secret euro-derivatives swap with Greece which, ultimately, destroyed that nation. Ecuador, its own banking sector de-regulated and demolished, exploded into riots. Argentina had to sell off its oil companies (to the Spanish) and water systems (to Enron) while its teachers hunted for food in garbage cans. Then, Bankers Gone Wild in the Eurozone dove head-first into derivatives pools without knowing how to swim – and the continent is now being sold off in tiny, cheap pieces to Germany.
Rubin was named director, then Chairman of Citigroup – which went bankrupt while managing to pay Rubin a total of $126 million.
Then Rubin took on another post: as key campaign benefactor to a young State Senator, Barack Obama. Only days after his election as President, Obama, at Rubin’s insistence, gave Summers the odd post of US “Economics Tsar” and made Geithner his Tsarina (that is, Secretary of Treasury). In 2010, Summers gave up his royalist robes to return to “consulting” for Citibank and other creatures of bank deregulation whose payments have raised Summers’ net worth by $31 million since the “end-game” memo.
(The Fed Reserve, not only works hand and glove with the bankers, it is owned by them):
#7 It was not an accident that a permanent income tax was also introduced the same year when the Federal Reserve system was established. The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.
#8 Within 20 years of the creation of the Federal Reserve, the U.S. economy was plunged into the Great Depression.
#9 If you can believe it, there have been 10 different economic recessions since 1950. The Federal Reserve created the “dotcom bubble”, the Federal Reserve created the “housing bubble” and now it has created the largest bond bubble in the history of the planet.
#10 According to an official government report, the Federal Reserve made 16.1 trillion dollars in secret loans to the big banks during the last financial crisis. The following is a list of loan recipients….
#11 The Federal Reserve also paid those big banks $659.4 million in fees to help “administer” those secret loans.
#12 The Federal Reserve has created approximately 2.75 trillion dollars out of thin air and injected it into the financial system over the past five years. This has allowed the stock market to soar to unprecedented heights, but it has also caused our financial system to become extremely unstable.
#13 We were told that the purpose of quantitative easing is to help “stimulate the economy”, but today the Federal Reserve is actually paying the big banks not to lend out 1.8 trillion dollars….
“http://michaelsnyder.mensnewsdaily.com/2013/09/25-fast-facts-about-the-federal-reserve-please-share-with-everyone-you-know/
(Documented Federal Reserve Complicity in purposely created financial crisis):
The US Congressional report provides evidence of major securities fraud in the embezzlement of as much as $16 trillion by the Federal Reserve and its bankers. Securities fraud and embezzlement are both felony criminal offenses.
During the financial crisis, at least 18 former and current directors from Federal Reserve Banks worked in banks and corporations that collectively received over $4 trillion in low-interest loans from the Federal Reserve.
$16 trillion is 10 times more than what the U.S. Congress authorized and Bush ($700 billion) and Obama ( $787 billion) signed off on. The Federal Reserve was only authorized by Congress to disburse $1.487 trillion in federal tax dollars in bailouts and financial aid, not $16 trillion. The Federal Reserve embezzled (to appropriate fraudulently to one’s own use) another $14.5 trillion.
The Congressional report determined that the Fed secretly hid most of the embezzled money into their own banks. The rest the Fed unilaterally transfered trillions of dollars to foreign banks (Federal Reserve Bank of New York Primary Dealers) and corporations from Canada to the UK, from the UK to EU banks and corporations and as far away as South Korea. Foreign banks and corporations which the Federal Reserve bankers had a personal financial interest or stake in.
The Federal Reserve Bank of New York (Timothy Geithner) embezzled and money laundered US tax dollars to the following US Federal Reserve Banks and foreign “Central” banks. This list is a list of co-conspirators in the Federal Reserve Bank orchestrated US and EU financial Crisis. The money they stole and laundered caused the US and EU financial crisis. Their illegal activity created the Greece debt crisis (Goldman Sachs), the France debt crisis, the Spain debt crisis and the Italy debt crisis.
The Fed (Timothy Geithner) outsourced virtually all of the operations of their $16 trillion embezzlement scheme to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo. For their part the same firms also received trillions of dollars in Fed (Timothy Geithner) loans at near-zero interest rates. Morgan Stanley helped the Federal Reserve banker (Timothy Geithner) launder embezzled $trillions into AIG. Geithner and Henry Paulson used the bail out of AIG to money launder the US tax dollars.
Did you know that the $trillion the Federal Reserve embezzled (US Congress only authorized $1.487 trillion) could pay off the entire U.S. national debt. The U.S. government need only to seize the assets of the Federal Reserve banks (the big six U.S. banks collectively hold about $9.399 trillion in assets) and get back the $trillions that the Federal Reserve illegally embezzled and money laundered to their foreign banks and corporations.
The U.S. government can recover $trillions from the Federal Reserve and their banks through asset forfeiture. Crimes committed by the Federal Reserve banks against the United States and its people include; conflict of interest, securities fraud, embezzlement, fraud, money laundering, hoarding, profiteering, larceny, racketeering . . .
http://www.morningliberty.com/2012/12/10/forfeiture-of-fed-franchise-big-banks-big-crimes-fiscal-cliff-consequences/
The purpose of this financial crisis is to take down the United States and the U.S. dollar as the stable datum of planetary fiancé and, in the midst of the resulting confusion, put in its place a global monetary authority – planetary financial control organization ‘to ensure this never happens again.”
This purpose has now been accomplished.
The dollar, the former king of currencies, now goes begging in the pant-suited persona of Hillary Clinton to our creditors at the Chinese Communist Party.
http://crisisbydesign.net/bonusG/CrisisByDesign-eBook-nonsecure.pdf John Truman Wolfe
http://www.parenting-healthy-children.com/News3.html