Archive for the ‘Geithner’ tag
Ben provides a wealth of information related to several recent posts here (see this post, and that post). Continuing the theme of arrests, this report gives more detail into what is occurring behind the scenes. He states that even Silvio Berlusconi was arrested, but I have found no news sources that have reported that. [Someone found one: Silvio Berlusconi Trial: Prosecutors Seek 5-Year Term ]
- Prince Harry has been in touch with the group and has agreed to take over control of the British Royal family from Queen Elizabeth.
- There are signs, such as the resignation of over a dozen senior bankers and the announcement of a $15 trillion fraud in the UK and a $6 trillion fraud in Italy, that these warnings have been taken seriously.
- Ireland, Portugal, Greece and Spain have all told the banks they are not going to pay back any of their loans because the loans were made illegally… these countries are going to “default,” and for a change it will be the bankers and not the average citizens, who will pay the price.
- The resignation of the heads of the World Bank, Credit Suisse, the Bank of India and “planned resignation” of the head of Goldman Sachs is just the beginning of a complete dismantling of the Khazarian banking monopoly.
- The $6 trillion fraud case in Italy is noteworthy because it is the one of the first such cases major corporate propaganda media outlets have reported worldwide.
- This means that people who were hitherto above the law and above institutions like the Vatican and the UN are no longer immune from arrest.
- The announcement in the UK Upper House by Lord Blackheath that $15 trillion had been stolen from a member of the “Indian-Chinese” royal family by [FRB’s] Bernanke… Geithner and “Yusuke Horiguchi”… is a another sign of big change.
- …“Lord Sassoon.” The Sassoons are one of the families that profited from both the Opium wars and the colonization of Japan… He is expected to be arrested and questioned soon.
- Particular attention is going to be directed at the Pharmaceutical and chemical companies as well as satanic corporations like Microsoft and Monsanto, according to the Pentagon sources.
- Rahm Emmanuel, Karl Rove, Paul Wolfowitz, Donald Rumsfeld, J. Rockefeller, the Bushes and the various “Neocons,” are also due for arrest, according to multiple sources.
- The top power brokers in Japan have decided that a revolution will take place… This will not be allowed to happen.
- There is much more this writer knows but has been asked to remain silent about.
by Benjamin Fulford
The group that claims to have started the American, French and Russian revolutions state they have issued a March 31st deadline to the committee of 300, according to their spokesman “Alexander Romanoff.” In addition, Prince Harry has been in touch with the group and has agreed to take over control of the British Royal family from Queen Elizabeth. There are signs, such as the resignation of over a dozen senior bankers and the announcement of a $15 trillion fraud in the UK and a $6 trillion fraud in Italy, that these warnings have been taken seriously. The Italian case is especially noticeable because one of the people arrested was former Prime Minister Silvio Berlusconni. In addition a meeting is scheduled this week between a White Dragon Society representative and a representatives of the dragon family in mainland Asia to discuss the creation of a meritocratically staffed economic planning agency.
It can also now be disclosed that Ireland, Portugal, Greece and Spain have all told the banks they are not going to pay back any of their loans because the loans were made illegally. This is one of the reasons why Moody’s downgraded 114 financial institutions including Citibank, Goldman Sachs, Bank of America, Deutschebank etc. These are the institutions that own the Federal Reserve Board and the Federal Reserve Board is going to be shut down soon, according to Pentagon sources. In other words these countries are going to “default,” and for a change it will be the bankers and not the average citizens, who will pay the price.
The resignation of the heads of the World Bank, Credit Suisse, the Bank of India and “planned resignation” of the head of Goldman Sachs is just the beginning of a complete dismantling of the Khazarian banking monopoly. All money created through fraud is now going to be deleted from the global financial computer systems, according to officials involved in the take-down.
by Karl Denninger
We as a society must stop pretending. Most of us think that we still have money in the bank to protect, so we go along with the game of extend and pretend. For some of us, the game has already ended. The rapacious zero interest rate policy that I call Bernankecide has already robbed millions of savers of their life savings. This is the reality that has yet to hit home for many Americans who are content to wallow in the status quo. Unfortunately, the longer it takes for them to wake up, the worse their, and our, fate will be.
It is not just “money to protect.” It is also unpayable political promises, most-particularly the concept of unlimited health care spending for seniors. The tab for this is somewhere around $50 – 70
My mother and millions of other senior citizens are among the victims of the game that policy makers and those who empower them are playing. Their life savings are gone because Bernankecide, the financial genocide of the elderly, forced them to spend their principal. Now the government is indirectly confiscating 8% of my income because I must support my mother. That percentage is likely to grow as her health deteriorates.
Or worse, take “more risk.” This of course means you might earn a return, but you might also make a loss. The former is ok, the latter ruinous. Neither should be happening but both are, and we the people are to blame. We vote for people who promise us ponies, whether we can fund them or not. But we also demand “cheap” credit which inherently means we will subsidize losses, since nobody in private business will
Millions of other boomers are in the same boat. They are forced to pay this immoral hidden tax because Ben Bernanke decided that the innocent must pay for the sins of the guilty. While Bernanke’s ZIRP goes on allowing the banksters to continue to collect their fat bonuses, it steals the savings of millions of Americans, eliminates their disposable income, and cuts the spending power of millions of others who must now support those rendered destitute. The guilty benefit, and the innocent are punished.
Bernanke knows that, yet he continues to side with the criminal bankers in support of the financial genocide of the super elderly, and their children, the baby boomers who must increasingly support them.
Yep. Those who did the right thing are being destroyed. I see it daily around me, and yet I also see rampant consumerism still running amok. The drunks are still boozing it up; we the people continue to play the “aspirational consumption” game even though we cannot cash the checks we write. Then, when the chickens come home to roost, we watch as the banksters get bailed out and continue on their way, and we refuse to rise, in no small part because if we do the credit cards will be cut off and we refuse to accept that just as a drug habit requires both a pusher
Among the OWS protesters are those calling for forgiveness of student loans. They may be acting in their own self interest, but it is a just cause, and must be a part of the cleansing of the system. The student loan thing is a long running racket that preys on the inexperience of children and young people just starting out in life.
Here I disagree. Students should be able to go
The student loans are the tip of the iceberg. Bankers have made and sold trillions of dollars worth of loans that they knew, or should have known, could not be repaid. That’s fraud. It must be prosecuted. Today, central bankers and governments are refunding those loans, knowing that a substantial portion of them cannot be repaid. Worse, they are buying them above par because of today’s fake low interest rates. Then they guarantee them by obligating us and future generations to repay them. This is criminal.
Yes it is. And the stooges such as Obama, Geithner and the rest (including Congress) are the reason it’s happening. Were
Read the rest folks. It’s worth it. Lee points out what I’ve been saying for a long time: We are quickly coming to the end of the line for this process to be carried out and remedied via reformation – that is, peaceful, lawful means.
The other possibilities are all ugly, and they’re approaching – quickly.
It was only last April when DHS issued a report that classifies most of the people on this site as potential terrorists. That was the first glimpse of what the Federal Government is preparing for. Now they are running military exercises across the country. For what? Are we worried that Canada is going to invade and steal our iPads? The first 3 links I clicked to access the actual report no longer worked. Very interesting. But I eventually tracked down a link to the actual report. If you want to be disgusted, read it.
Our economic situation is much worse than the public knows. Look at the bags under Geithner’s eyes when he is interviewed. If he was connected to a lie detector during these interviews the machine would be smoking. Those in power know that collapse is coming. They are panicked and are preparing to put down any resistence when the time comes.
This Norway incident now gives those in power the storyline to use when conducting these military exercises. They are doing it to keep us safe. Don’t believe it. If you do not own a firearm today, I would recommend that you purchase one in the near future. It is better to be safe than sorry.
July 26, 2011
Lyndon LaRouche today called for the immediate jailing of Federal Reserve Chairman Ben Bernanke, Treasury Secretary Timothy Geithner and President Barack Obama for their role in a massive theft of taxpayers money, in the 2008 bailout of Wall Street and London, and the ongoing pledge to continue the bailout of the hopelessly bankrupt European Monetary Union and Wall Street.
LaRouche made the demand after reviewing the July 2011 Government Accountability Office (GAO) audit of the Federal Reserve, which is the first installment of a larger audit to be completed by October of this year. The preliminary audit revealed a trail of criminal action on the part of Bernanke and Geithner. In March 2008, Fed Chairman Bernanke fraudulently invoked an emergency clause in the Federal Reserve Act, claiming that on the basis of “unusual and exigent circumstances,” the Fed could issue emergency loans to nondepository institutions for the first time since the Great Depression. As the result, the Fed issued more than $16 trillion in emergency loans to Wall Street and foreign banks. Furthermore, most of the fraudulent “emergency lending” was outsourced to private contractors, led by JP Morgan Chase, Morgan Stanley and Wells Fargo, in no-bid contracts that totalled $660 million in fees. Numerous officials of the Fed and the outside contractors were given blanket waivers, allowing them to act despite clear conflicts of interest. The Fed audit cited the case of William Dudley, a former chief economist of Goldman Sachs, who is now the Chairman of the New York Federal Reserve, who was given a conflict-of-interest waiver to retain his stocks in AIG and General Electric at a time when he was authorizing hundreds of billions of dollars in fraudulent “emergency” loans to these firms. In another example of the rampant conflict of interest, the CEO of JP Morgan Chase was allowed to remain on the board of directors of the New York Federal Reserve Bank while his firm received $390 billion in loans, and functioned as a major clearinghouse for the entire Federal Reserve emergency loan program.
The GAO audit was conducted under an amendment to the Dodd-Frank bill that was introduced by Sen. Bernie Sanders (I-Vt.), over strenuous objections.
Lyndon LaRouche today demanded that Bernanke, Geithner and President Obama be immediately sent to prison for their role in this fraudulent theft of taxpayer’s money. “There never was an emergency warranting $16 trillion in bailout to Wall Street and foreign banks,” LaRouche declared. “There was always an alternative, which I spelled out clearly in my 2007 Homeowners and Bank Protection Act (HBPA), an alternative thoroughly in keeping with the U.S. Constitution. I called for the immediate reinstatement of the Glass Steagall Act and a freeze on all home foreclosures for the duration of the bankruptcy reorganization of the entire Federal Reserve System. It was a high crime to bail out Wall Street and London’s gambling debts, and Bernanke’s declaration of emergency, unleashing $16 trillion in Fed funds to bailout gambling debts that can never be paid, was a criminal fraud. President Obama has furthered that criminal fraud, by pledging that the U.S. Federal Reserve and Treasury would be the lenders of last resort for the European Monetary Union. The President made that illegal promise as recently as last week, during a telephone conversation with German Chancellor Angela Merkel.”
LaRouche concluded: “There is only one appropriate course of action. Send Bernanke, Geithner and Obama to prison right now. The idea that the American people should be held responsible for bailing out tens of trillions of dollars in fraudulent, worthless, unpayable debt, is unforgivable, and must be punished by criminal prosecution and hard jail time. Public officials elected or appointed to high office in our Federal government must be held accountable for their crimes, or else our entire Constitutional system is worthless. I know the American people are with me, and that there can be no delay. The GAO is the official investigative arm of the U.S. Congress. They have provided their findings in a 239 page audit report. The facts speak for themselves.”
For those foolish enough to fall for the government propaganda that a recovery is underway, caution and reconsideration are in order. All that governments have left is to promote the illusion of a recovery. They have exhausted their money, creditability and citizens’ patience.
Gerald Celente described their actions:
From the onset of the financial crisis that began in August 2007, and through the ensuing Panic of ’08, Washington, the Federal Reserve and central banks have managed to forestall a Great Depression-grade meltdown by way of a variety of multi-trillion dollar rescue packages, bailouts and stimulus programs. For three years the programs were able to induce an illusory and superficial recovery that, barring a major external geopolitical jolt, might have continued to run its course until the inevitable denouement.
Governmental attempts were doomed from the beginning. All that is left now is duplicity designed to buy time. A collapse is inevitable, all as a result of government economic interventions. Continued interventions provide no hope of avoiding the inevitable. They merely represent an attempt to push off Cairo or Tripoli type demonstrations from coming to the streets of America. Deferral may be possible; avoidance is not.
Bill Bonner ridicules this charade and Tim Geithner in particular:
Now, how did that work again? The banks were shown to be insolvent during the crisis of ’07-’09. They had too much bad debt and not enough capital. And now they’re healthy, right?
Well, what happened to the bad debt? Most of it was backed by real estate. Did real estate go up? It didn’t?
Then, what happened to make the bankers rich again?
The Fed bought their bad debt – about $1.25 trillion worth. But not only did it relieve the banks of their mistakes, it also connived with the US Treasury, now run by the aforementioned Geithner, to make sure the bankers made a lot of money. The Fed lent to them at next to zero interest rate. Then, the US Treasury borrowed the money back at 4%. Even a banker could make money with that deal.
But wait, there’s more…
Government deficits and money printing may mean eventual ruin to a nation’s finances, but they do wonders for the financial sector.
Bonner, in an attempt to educate Geithner (and Bernanke) cites Ludwig von Mises:
Credit expansion cannot increase the supply of real goods. It merely brings about a rearrangement. It diverts capital investment away from the course prescribed by the state of economic wealth and market conditions. It causes production to pursue paths which it would not follow unless the economy were to acquire an increase in material goods. As a result, the upswing lacks a solid base. It is not a real prosperity. It is illusory prosperity. It did not develop from an increase in economic wealth [i.e. the accumulation of savings made available for productive investment]. Rather, it arose because the credit expansion created the illusion of such an increase. Sooner or later, it must become apparent that this economic situation is built on sand.
Timing may be uncertain, but the end result is not. I believe that we are nearing the end, but institutions like countries, governments and the like take longer to die than logic suggests. Bells are not rung providing a warning when the unthinkable is about to happen. The 1987 stock market crash came out of nowhere as did the dot-com and housing collapses. So did events in the Middle East and Africa. When conditions change, they do so at dramatic pace.
No one can predict timing with reasonable accuracy. Yet things don’t feel right and Celente warns: “Be prepared conditions are spinning out of control.”
Is Wisconsin the trigger or will something else start the avalanche?
Geithner Says Not To Worry About Surging Oil Prices: “Central Banks Have A Lot Of Experience In Managing These Things”
You really can’t make this shit up: “The economy is in a much stronger position to handle” rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.” We are, all of us, now doomed.
Bloomberg‘s account of one lunatic’s daily ramblings in a collapsing world:
U.S. Treasury Secretary Timothy F. Geithner said the economic recovery has put the world on a better footing to withstand the increase in oil prices caused by turmoil in the Middle East.
“The economy is in a much stronger position to handle” rising oil prices, Geithner said today during a Bloomberg Breakfast in Washington. “Central banks have a lot of experience in managing these things.”
Political turmoil in Libya, holder of Africa’s largest oil reserves, will add “stagflationary winds” to the global economy, according to Mohamed El-Erian, chief executive officer at Pacific Investment Management Co. Protests in Libya pose more “systemic” risk to the global economy than the upheaval in Egypt and Tunisia, El-Erian said in a Bloomberg Television interview yesterday.
Geithner also said the U.S. financial system is in better shape than before the recession and is able to provide the funding needed for the expansion.
“The core of the American financial system is in a much stronger position than it was before the crisis,” he said. “We’re way ahead of any other major economy.”
And if the confirmation that we have a lunatic in charge was not enough, here is the punchline:
“The economy is gradually getting stronger,” Geithner said today, adding “I wouldn’t get carried away with it.”
Don’t worry TurboTax, you will get carried away… by a mob of unruly protestors who finally realize that Libya was not an isolated incident.