“…in every major US financial panic since at least the Panic of 1835, the titans of Wall Street – most especially until 1929, the House of JP Morgan – have deliberately triggered bank panics behind the scenes in order to consolidate their grip on US banking. The private banks used the panics to control Washington policy including the exact definition of the private ownership of the new Federal Reserve in 1913, and to consolidate their control over industry such as US Steel, Caterpillar, Westinghouse and the like. They are, in short, old hands at such financial warfare to increase their power.
Now they must do something similar on a global scale to be able to continue to dominate global finance, the heart of the power of the American Century.
That process of using panics to centralize their private power created an extremely powerful concentration of financial and economic power in a few private hands, the same hands which created the influential US foreign policy think-tank, the New York Council on Foreign Relations in 1919…” (emphasis added) – F. William Engdahl, October 10, 2008 (1)
As Engdahl points out, the evidence is increasing that the recent financial panic and economic distress is and has been planned as a part of Cartel Strategy to increase power and, in our view, to implement its “End Game.” - DEEPCASTER (2)
These are excerpts from:
Protecting Democracy & Profits from The Globalist Threat
First posted on August 10, 2012
The Implication for Investor-Citizens, as well as Citizens, should be clear: the typical member of the Regionalist (i.e. Globalist) Elite acts in their own interest (which is to say the interest of the Mega-Bank Cartel (…) Not only are the typical Globalist Cartel leaders anti-democratic Globalists, they also prefer to conduct their Affairs in secret. (…)
The refusal (in the midst of the 2008-2009 Financial Crisis) of the private-for-profit U.S. Federal Reserve to identify the recipients of over $2 trillion in loans funded and/or authorized by the U.S. Congress, “courtesy” of U.S. Taxpayers, serves to re-emphasize the Grave Threat which The Fed-led Cartel poses to democracy.
The Modus Operandi continues to this day – the U.S. Taxpayer continues to borrow money (and pay interest on it) from The Fed which prints it for free out of thin air. (…)
This loss in Purchasing Power may be appropriately called The Fed’s ongoing (since the Fed’s Founding in 1913) “Inflation Tax.”
The “Inflation Tax” works like this: every dollar the Fed prints in excess of GDP growth makes every dollar each of us holds worth less than before in Purchasing Power terms. Indeed, over 95% less since The Fed’s founding. But, today, there is no real U.S. GDP growth (see Note 2 below) and there has not been for many months. (…)
To understand the Cartel’s likely “End Game” we must understand the Root Cause.
The Root Cause of The Systemic Threat to Democracy and Investor Profits
The root cause of The Threat lies in the structure, functioning and policies of the private-for-profit “U.S.” Federal Reserve.
Various international private banks, several of which are headquartered in Europe, own the “United States” Federal Reserve Bank.
These International Mega-Bankers, acting through their “U.S.” Fed, make money by creating money out of “thin air” as eloquently described by the Dean of the Newsletter Writers, Richard Russell:
“I still can’t get over the whole Federal Reserve racket.”
Consider the following – - let’s take a situation where the U.S. government needs money. The U.S. doesn’t just issue United States Notes, which, of course it could. These notes would be dollars backed by the full faith and credit of the United States. No, the U.S. doesn’t issue dollars straight out of the U.S. Treasury.
This is what the U.S. does – - it issues Treasury Bonds. The U.S. then sells these bonds to the Fed. The Fed buys the bonds. Wait, how does the Fed pay for the bonds? The Fed simply creates money “out of thin air” (book-keeping entry) with which it buys the bonds. The money that the Fed creates from nowhere then goes to the U.S. The Fed holds the U.S. bonds, and the unbelievable irony is that the U.S. then pays interest on the very bonds that the U.S. itself issued. (With great profit to the private owners of The Fed – - Ed. Note) The mind boggles.
The damnable result is that the Fed effectively controls the U.S. money supply. The Fed is …not even a branch of the U.S. government. The Fed is not mentioned in the Constitution of the United States. No Constitutional amendment was ever created or voted on to accept the Fed. The Constitutionality of the Federal Reserve has never come before the Supreme Court. The Fed is a private bank that keeps the U.S. forever in debt – - or I should say in increasing debt along with ever rising interest payments.
How did the Fed get away with this outrage? A tiny secretive group of bankers sneaked through a bill in 1913 at a time when many in Congress were absent. Those who were there and voted for the bill didn’t realize (as so often happens) what they were voting for (shades of the shameful 2002 vote to hand over to President Bush the power to decide on war with Iraq).” – Richard Russell, “Richards Remarks,” dowtheoryletters.com, March 27 2007
After President Wilson signed the Federal Reserve Act into law in 1913, he reportedly said, “I am a most unhappy man, I have unwittingly ruined my country…a great industrial nation is now controlled by its system of credit…the growth of the nation, therefore, and all of our activities are in the hands of a few men…” Certainly, an early statement about the threat to “democracy” occasioned by The Fed. (…)
A Solution Which Addresses Current Realities
Rather, and as an alternative to The Cartel’s planned “End Game,” the U.S. Treasury could begin to function as it is constitutionally authorized to do, as The United States National Bank issuing United States Notes (as President J.F. Kennedy briefly authorized the Treasury to do before he was killed) at least partially backed by Real Assets such as the Monetary Metals, Gold and Silver. (…) Complete article HERE
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