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Exclusive public outlet for documentation and notices from The Original Jurisdiction Republic 1861 circa 2010.
The video starts out with some content from obamasnippets.com, which, of course is contrived. And yet, there seems to be a synthetic truth about what the president says. Is he "natural born" according to the Constitution? No. The requirement is that BOTH parents need to be U. S. Citizens. Two U. S. Citizen parents produce a "natural born" citizen. It's likely that Mr. Obama was REGISTERED in Hawaii, therefore he has a COLB from Hawaii. The truth may well be he was born in Kenya; that is where we believe his "long-form" birth certificate was issued. Nevertheless, "natural born" indicates, and speaks to the fact that BOTH parents have to be U. S. Citizens. His father WAS NEVER a U. S. Citizen, therefore, Barack Hussein Obama is NOT a "natural born" Citizen of the United States, thus he is in violation of Amendment 14, and Article II, Section 1, Paragraph 5 of the United States Constitution
So NOW ... we see that EVEN the videos we see are contrived! Click on the link below ... watch it ... then notice the text below it!
PLEASE DELETE EMAIL ADDRESSES BEFORE FORWARDING
Subject: just doesn't seem to matter....most Americans don't even know it's a law, or even care. fl
Obama Admits Birth Place.
Wow! It appears he really is admitting this.
See for yourself. I didn't know this information was available. Why haven't we been able to review this data previously?
Obama admits not being born in Hawaii ..
Can one doubt his own admission? Where is Sixty Minutes?
Who would believe Obama is actually on this video admitting
He was not born in Hawaii but was born in Kenya and is not
Even a citizen. Obviously he made these statements because
He did not know at that time that a President must be a
"natural born" citizen. OOOPS!
Circulate this before they yank it from the Internet.
Will some one tell me why this guy is not being impeached??
If you just watch the first 30 sec. Your mouth will drop open.
Obama admits he is not a citizen
Hmmm...maybe the "birthers' are on to something....
Judge Reid in Indiana granted Taitz motion for removal of Obama from the ballot.
Attorney Orly Taitz will be challenging Obama in two states in two days: September 24 MS and September 26 in IN. Other states to follow at later dates.
Posted on | September 8, 2012 | 5 Comments
Press release
Law offices of Dr. Orly Taitz
Honorable Sherry K. Reid granted a motion by Attorney Orly Taitz to conduct an emergency hearing for injunction preventing Candidate for the U.S. President in 2012 Barack Hussein Obama to be on the ballot in the State of Indiana due to fraud committed by Obama and due to his use of forged IDs.
Barack Hussein Obama, aka Barack (Barry) Soetoro, aka Barack(Barry) Soebarkah, a citizen of Indonesia and possibly still a citizen of Kenya, committed fraud by submitting his candidacy to be on the ballot in Indiana and other states, as he is using a forged birth certificate, forged Selective Service certificate and a stolen Connecticut Social Security number 042-68-4425 as a proof of his identity.
Hearing in Indiana is scheduled only 2 days after a hearing in Jackson, Mississippi before federal judge Henry Wingate. It is expected that the hearing in Indiana will be more fruitful, as there is still a question of jurisdiction of Federal court in Mississippi and legitimacy of removal of the case from the Supreme Court of Mississippi to the Federal court by the defendants Democratic party of Mississippi and Secretary of State of Mississippi. While the decision of Judge Wingate in MS might be limited to jurisdiction of the Federal court (as there was a stay on Plaintiff’s filing on other issues) there is expected to be a ruling on preliminary injunction in Indiana. Judge Reid is asked to bar/block/ prevent placement of Obama’s name on the ballot in general election due to Obama’s use of forged IDs or temporary block placement of his name until valid original IDs are provided to overcome a mountain of evidence of fraud. Fraud and forgery were detected in his alleged birth certificate, Selective Service certificate and Social Security number.
Additionall,y in MS Plaintiff Taitz sought sanctions and an evidential hearing against attorneys Sam Begley and Scott J. Tepper, who submitted to court Obama’s alleged copy of birth certificate, seeking judicial notice, de facto legitimization of it, while they had in their possession evidence pointing to forgery in that certificate. California bar responded to a complaint by attorney Taitz regarding breach of ethics by attorney Scott J.Tepper, who is a CA attorney, representing the Democratic party of MS under pro hac vice. Ca Bar stated that alleged forgery of Obama’s birth certificate is a matter of National security and needs to be resolved by the trial court and law enforcement. Criminal complaints were submitted to the Attorney General of MS, District Attorney of Hinds County MS, District Attorney of Los Angeles County and Orange County CA, as well as MS bar. There was no response from them yet.
Currently Attorney and Doctor Orly Taitz is making arrangements to fly to MS and from there to Indiana.
Taitz is asking supporters to be there in court to support her and donate for her work and for the expenses of these cases and other cases currently in different stages in TX, CA and other states.
A CASE FOR MORTGAGE DEBT FORGIVENESS: Norway Writes Down 90% Of Populations Mortgage Debt / When Debt Is Fraud / IMF: Debt Reduction Policies Work / Debt Jubilee – The Concept
In 1997, Norway instituted Debt Forgiveness and “Wrote Down” 90% of the Countries Mortgage Debt.
It’s been done, documented, and completely hidden from the World, through the World Media, until 19 April 2012.
Complete and Total Censorship of anything Debt Forgiveness Related, World Wide.
IMF SAYS TARGETED DEBT REDUCTION POLICIES CAN WORK
The IMF has said that targeted household debt reduction policies can deliver significant economic benefits.
Latest IMF report notes link between high levels of household debt and the effect on economic recovery
The IMF has said that targeted household debt reduction policies – including mortgage write-downs – can deliver significant economic benefits.
The International Monetary Fund made the comments in its latest World Economic Outlook.
The IMF said such policies can substantially mitigate the negative effect of household deleveraging on economic activity.
The report noted the well established link between high levels of household debt run up during a housing boom, and the effect of a high debt overhang on economic recovery.
It found that countries, like Ireland, that saw house prices and household borrowing skyrocket, saw a longer than average period of recession after the bursting of the housing bubble.
A large part of this protracted recession it said is due to households trying to reduce their debt levels, which in turn leads to less spending in the economy, driving the recession deeper and further.
“Because debt is acting as a brake on economic growth, it is important to unstick the brake” said the report’s author Daniel Leigh.
The IMF has studied the response of a number of countries to situations where large parts of the population are burdened with high mortgage debt in a recession, and finds that such programmes can help prevent self-reinforcing cycles of falling house prices and lower aggregate demand.
“Such policies are particularly relevant for economies with limited scope for expansionary macroeconomic policies and in which the financial sector has already received government report”, notes the conclusions. Ireland meets both these criteria.
The report highlighted what it calls the “bold ” household debt reduction programmes implemented in the US in the 1930′s and in
Iceland in this crisis, which it said can “significantly reduce the number of household defaults and foreclosures and substantially reduce debt repayment burdens”.
It contrasted these examples with others that have not been successful, such as the current response to the crisis in the US and Hungary, and the policies pursued in Colombia and the Scandinavian countries in the 90′s.
As well as the “bold” approach, it said that ensuring a strong banking sector is crucial during the period of household deleveraging. It stated that the policies in Colombia and Hungary were not a success as they placed too much burden on an already fragile banking sector.
It also said the policies must be designed to have incentives for both banks and borrowers to participate, notably by offering a viable alternative to default and foreclosure.
The IMF noted that government support for household debt restructuring programmes involves clear winners and losers. “The friction caused by such redistribution may be one reason why such policies have rarely been used in the past, except when the magnitude of the problem was substantial and the ensuing social and political pressures considerable”,’ it stated.
It cited another study which found that political systems tend to become more polarised in the wake of financial crises, and raised the question of collective action problems – that distressed mortgage borrowers may be less politically organised than banks – and this can hamper efforts to implement household debt restructuring.
In the US in the 1930′s the Roosevelt administration introduced the Home Owners Loan Corporation, which bought distressed mortgages from banks with government bonds, with federal guarantees on principal and interest. It then restructured these mortgages to make them more affordable to borrowers.
80% of the restructured loans (some 800,000) were protected from repossession by the measure, and the mortgages were subsequently sold on over time for a nominal profit at the time the programme was brought to an end in 1951. The mortgage purchases amounted to 8.4% of 1933′s GDP in the US.
The IMF said “a key feature of the HOLC was the effective transfer of funds to credit constrained households with distressed balance sheets and a high marginal propensity to consume, which mitigated the negative effects on aggregate demand” caused by the recession and need for household deleveraging.
The main mechanism to make loans more affordable was to extend the term of the mortgage – sometimes doubling the term – and converting it from a variable to a fixed rate. In a number of cases the HOLC also wrote off part of the principal to ensure that no loans exceeded 80% of the appraised value of the house.
In the case of Iceland the situation was more difficult, due in part to the much bigger proportion of the population that was affected, and to the wide presence of foreign currency mortgages.
The government and the newly constructed Icelandic banks developed a template to be used in case by case restructuring discussions between borrowers and lenders. The templates facilitated substantial debt write-downs designed to align secured debt with the supporting collateral (i.e bring the loan into line with the value of the house) and align debt service with the ability to repay.
The IMF found that such case by case negotiations safeguard property rights and reduce moral hazard, but they take time. As of January of this year, only 35% of the case by case restructuring applications had been processed. To speed things up, Iceland has introduced a debt forgiveness plan which writes down deeply underwater mortgages to 110% of the households’ pledgeable assets.
It noted that only when a comprehensive framework was put in place and a clear expiration date for relief measures announced that debt write-downs finally took off. As of January 2012, 15 to 20% of all Icelandic mortgages have been or are in the process of being written down.
However, it said the jury is still out on Iceland’s plans, and said the extent to which Iceland can put its citizens back on their feet and minimise moral hazard remains to be seen.
WHEN DEBT IS FRAUD, DEBT FORGIVENESS IS THE LAST AND ONLY REMEDY – Zeus Yiamouyiannis, Ph.D.
Endgame: When Debt Is Fraud, Debt Forgiveness Is The Last And Only Remedy
Charles Hugh-Smith from Of Two Minds.
Today I present an important guest essay by long-time contributor Zeus Yiamouyiannis, who suggests that when debt is essentially fraudulent, then debt forgiveness is both the logical and the only remedy.
Endgame: When Debt is Fraud, Debt Forgiveness is the Last and Only Remedy, by Zeus Yiamouyiannis, Ph.D., copyright 2011.
Introduction
Finally serious economists are considering a position I have been maintaining and writing about since the 2008 financial meltdown. Whatever its name— erasure, repudiation, abolishment, cancellation, jubilee—debt forgiveness, will have to eventually emerge forefront in global efforts to solve an ongoing systemic financial crisis.
“On a grand scale the only way to erase counterfeit money and (counterfeit) assets of hundreds of trillions of dollars is to erase the debts associated with those fake assets. (Let me underscore again, these are not “toxic” assets, they are fake assets.)… Forgiveness in general, and forgiveness of debt in particular, stand as virtues if they free us up to acknowledge, address, and learn from our culpability, start anew, and create forward.” (The Big Squeeze, Part 3: The Quiet Rebellion: Civil Disobedience, Local Markets, and Debt Erasure (January 29, 2011)
Debt forgiveness, therefore, accomplishes two important things. It eliminates the increasing and outsized portion of productive enterprise to pay off unproductive obligations, and it clears the ground for new opportunities, new thinking, invention, and entrepreneurialism. This is why the ability to declare bankruptcy is so essential in the pursuit of both happiness and innovation.
Currently we are mired in a “new normal” and calls for “austerity” which are nothing more than the delusional efforts of a status quo to avoid the consequences of its own error and fraud and to profit evermore. So bedazzled by the false wealth created by debt multiplication and its concomitant fantasy of ever-higher returns, this status quo continues to be stupidly amazed that people are not spending and that the economy is not picking up. But how could it be otherwise?
Productive wealth has been trapped in a web of parasitic theft, counterfeiting, liability evasion, non-regulation, and prosecutorial non-accountability. All the fundamental attributes of a functioning exchange economy have been warped to reward creative criminals. I spoke extensively about this in my posts from 2008. (Imaginary Worth, Empire of Debt: How Modern Finance Created Its Own Downfall (October 15, 2008)
The unsustainable nature of debt
Two observations: 1) Fabricated/parasitic so-called “wealth” destroys value by diluting the value of productive wealth. 2) Debt/credit that cannot be paid back is never an asset and is always a hot-potato liability (needing to be foisted to a greater fool to garner “profit” and transaction fees):
“The models [modern debt are] based upon had no contact with reality. They assumed unlimited growth and ability to pay. When matched against the reality of people paying ten times their salary for mortgages that actually added more money owed to their principal (i.e. with negative amortization), required no money down, and set up “balloon payments,” large step-ups in payments after a few years) there is no possible way they could NOT default in a predictable span of time.” (Part II: How the Credit
Default Swap Scam Works (October 13, 2008)
Systemically, all debt that charges a percentage (“usury”) originates in delusion. Debt grows exponentially indefinitely, growth (income and otherwise) cannot. This leads to a widening condition where the fruits of productive “growth” devoted to interest payments increase until those fruits are entirely consumed. (The Elephant In The Room: Debt Grows Exponentially, While Economies
Only Grow In An S-Curve (Washington’s Blog)
Once this happens, stores of wealth (hard assets) begin to be cannibalized to make up for the difference. You see this in Greece with its sale of public assets to private companies, and in middle-class America where people are liquidating retirement accounts to pay for their cost of living.
This problem is compounded by a private Federal Reserve that lends money into circulation at interest, and then allows the multiplication of this consumer debt-money liability through fractional reserve banking. The money in circulation today could pay only a small fraction of the total private and public debt. That fact alone is evidence of a kind of systemic fraud. “If you just work hard enough, save, and make sensible decisions, you can get out of debt” could only physically work for a bare fraction of the population, given the money-to-debt ratio. The rest would have to simply default to clear the boards.
This is why debt forgiveness makes not only moral but rational, mathematical sense. Finances require balancing to be coherent.
There must be some way to redress systemic imbalance. One has to be able to “zero the scales” to get an accurate weight of value and to re-establish healthy value creation.
Voices in the debate
Some analysts are beginning to see the forest through the trees in terms of debt forgiveness. Steve Keen, Australian economist and current deflationist, and Michael Hudson, American economic contrarian and prescient essayist, are both using clear-sighted reality-based financial analysis to debunk accounting games that obscure the untenable debt situation and to call for debt forgiveness.
How can selling sovereign assets and imposing austerity on Greek citizens (taking money out of their hands through higher taxes and lower benefits) do anything other than hollow out value and contract the Greek economy in the face of a deep global recession? Michael Hudson: It can’t. Greece’s debt needs to be written off.
“It seems unreasonable and unrealistic to expect that large sectors of the New European population can be made subject to salary garnishment throughout their lives, reducing them to a lifetime of debt peonage… (T)he only way to resolve it is to negotiate a debt write-off…” (The Coming European Debt Wars: EU Countries sinking into Depression (Michael Hudson, Global Research, April 9, 2010)
(“[We’ll Have] a Never-Ending Depression Unless We Repudiate the Debt, Which Never Should Have Been Extended In The First Place” (Washington’s Blog)
Why isn’t “quantitative easing” and flooding the U.S. economy with debt-money working to prime borrowing and lending? Steve Keen: Because the money is going into deleveraging in a time of overextension:
“Bernanke is throwing (a) trillion dollars into the system. Rather than that leading to ten trillion dollars of additional credit money, creating the inflation people are expecting, that trillion dollars is all that goes in, and people deleveraging actually reduce their level of spending by more than a trillion dollars by trying to pay their debt down, and it cancels out what the government is trying to do… We need a 21st century jubilee.” (On the Edge with . . . Steve Keen (Max Keiser, video)
Other well-known commentators are not seeing the debt forest at all. In their contentious debates over deflation and inflation, neither Rick Ackerman nor Gonzalo Lira seem to be aware of the overwhelmingly fraudulent nature of present global debt– including the 600 to 1,000 trillion dollars of fabricated notional wealth represented by the derivatives markets, fraudclosure, and a host of other sources.
Rick Ackerman: “’Ultimately, every penny of every debt must be paid — if not by the borrower, then by the lender.’ Inflationists and deflationists implicitly agree on this point… and we differ only on the question of who, borrower or lender, will take the hit.” (Let’s Think This Through Together….)
I posted a pithy response in the comment section:
“Both Rick and Gonzalo left out the obvious third way–debt forgiveness. No… debt does not have to be paid by someone; it can be absolved, especially debt created upon fraudulent and/or counterfeit-ridden practice… (D)erivatives are not real wealth, and neither was the ostensible climb in the values of housing resting in large part on those phony-wealth derivatives.
The only “real wealth” here revolves around ability to produce real and needed goods (to allow us to survive), and the ability to create something that increases one’s quality of life (to promote our thriving). Precious little of the present global economy involves either one of these. Yeah, if we use FASB standards and Goldman Sachs accounting, we can pretend our worthless junk is
all really simply very rare, “unique condition” collectibles worth trillions of dollars.
I’ve got a better idea. Take our financial junk out of the global attic in boxes, put them out on the front lawn, and see if
anyone wants to pay a few bucks for the various items, give away the leftovers to anyone interested passing on the sidewalk, and recycle, donate, or dispose of the rest. It’s a moving sale, and if our economy is going to get moving, maybe we ought to have one.” (Zeus Yiamouyiannis April 6, 2011 at 4:11 pm)
How it might play out
This subtle debt extortion creates a system of never-ending debt-slavery for a vast majority of the population. When this “manageable” slavery is aggravated by a desire to use hardship to extort ever greater assets from the overburdened at ever cheaper prices (what Naomi Klein calls “disaster capitalism”), by open and unapologetic widespread fraud, and by the unjust offloading of risk and liability to taxpayers who had nothing to do with poor decisions of private banks, then the systemic abuse is revealed in the daily lives of citizens.
Debt creates scarcity, which stimulates fear, which drives manic competition, which favors opportunism, collusion, and concentrations of power, which translates to abuse, which results in a collapse of legitimacy for the economic system. Overreach causes a breaking point, and we are getting close to it. Will the response be warfare, taxpayer revolt, political upheaval, mass default, debt forgiveness, something other, some combination? I have predicted pockets of violence would be mixed with some softer combination of taxpayer revolt, mass default, political upheaval, and debt forgiveness, along with a return to community exchange to meet basic needs. (The Big Squeeze, Part 3: The Quiet Rebellion: Civil Disobedience, Local Markets, and Debt Erasure
(January 29, 2011)
This possibility of epic reprisal may very well compel banks to come to the table around debt forgiveness to avoid violent backlash and criminal prosecution, even over preserving their gravy train companies. The bitter irony of these companies and their galloping greed is that they ended up victimizing each other by selling junk to each other and extracting all the real value in salary and bonuses. Their assets rest on notional values, that when unmasked would drive each into immediate insolvency. They have simply been scam artists, producing little value and extracting mountains of money.
What might this look like? Looking at present trends and using the very useful framework of Kubler-Ross’s stages of grief, it might go something like this…
Average debtor:
1) Denial: Liquidate savings to pay for over-priced house and cost of living.
2) Anger and fear: Exhaust resources, experience want, compounded by austerity measures.
3) Bargaining: Attempt to negotiate with bank through HAMP and other mechanisms to lower payments. Banks don ‘t bite and even
have incentives to foreclose.
4) Depression: Lose/default on the house and move in with family or cheap rental.
5) Find out life is better without being a debt slave and spend more time with community and the ones you love.
Bankers:
1) Denial: Collect 144 billion in bonuses after financial collapse and laugh as not a single trading day loss arises for zombie TBTF banks completely subsidized by governments.
2) Anger: Express false righteousness, indignation, and hubris over even modest/toothless demands/regulations attempted to be placed on them by governments. Exhibit sadistic zeal at being able to simply claim you own and liquidate properties they have no clear title to.
3) Bargaining: Experience dawning awareness that may have just cooked your own gooses as strategic defaults skyrocket, populist demands to prosecute fraudclosure gain traction, and quantitative easing ad infinitum dwindles and fails to keep stock prices artificially aloft. Improvise panicked attempts to “be reasonable” and actually negotiate, once the asset and money flow well runs dry.
4) Depression: Contemplate and realize possible bankruptcy by big banks. Retreat to the Hamptons to hire criminal defense lawyers, contemplate empty life, and shoulder the abuse of media and contempt of a global citizenry.
5) Acceptance: Trying to regain “good guy” status and avoid criminal prosecution by agreeing to be part of debt forgiveness.
Once defaults happen in increasing numbers and certain asset prices plunge (i.e. real estate), what will initially look like a bonanza for capitalist parasites could easily get out of hand, with people either unable or unwilling to buy inventory even at greatly reduced prices. Profits would tank at banks, liabilities would skyrocket even with most of it transferred to government guarantee. Because no one plays the game anymore, banks could go under as well, as people rise to vote out bank-friendly politicians and simply refuse to pay. This unraveling could easily force exposure of the notional value of derivatives in banks as worthless, meaning they are as bankrupt as the people they exploited. At this point, there will be a common desire and need to simply “forgive” the debts and try to find some way to distribute these empty homes.
Conclusion
Debt forgiveness simply calls out either the inherent systemic inability to make good on debts or the recognition that debt was produced through fraudulent means. In the present situation, both conditions obtain. There has likely been no point in world history where debt forgiveness has been so comprehensively merited. The only speculation from my point (barring world-wide global feudalism and eternal debt slavery) is whether we will initiate such forgiveness or be forced into it.
Thank you, Zeus, for this prescient and insightful analysis of debt and debt renunciation.The Kondratieff Cycle can only turn to Spring after debt renunciation completes the Winter cycle. Let’s stop pretending we’re still in Summer, and that the Fed’s puny “quantitative easing” and monetary cargo-cult machinations can reverse the seasons.
***
A two part column/exposition on the concepts of a Debt Jubilee and Public Credit
Stephen Keys
April 13, 2012
Debt Jubilee for New Zealand – The Great Reset
Australian economist Steve Keen is amongst a growing group of economic renegades who believe things are so far gone with the global economy that a debt jubilee and a total reset of the financial system is required. He proposes nationalizing the banks and wiping the slate clean because he contends that it is now mathematically impossible for most countries to repay the combination of their sovereign and private debt. He also contends along with economic historian Michael Hudson that the mortgage and consumer credit that western banks have extended is verging on odious, lent recklessly for short term gain by banks more concerned about their profits from the resultant interest and fees than the effect it would have on not just individual consumers but also the nations they are citizens of. As Hudson says,
“This is why relinquishing policy control to a creditor class rarely has gone together with economic growth and rising living standards. The tendency for debts to grow faster than the population’s ability to pay has been a basic constant throughout all recorded history. Debts mount up exponentially, absorbing the surplus and reducing much of the population to the equivalent of debt peonage.”
Even Alan Bollard admitted in his book Crisis that banks may extend more credit than is good for individuals and nations. Have banks and the rest of the financial sector so grossly distorted capitalism that it is on the point of collapse?
The concept of a debt jubilee is not new. It dates back to biblical times and the Book of Leviticus where the Hebrews would every 50 years free slaves, prisoners and forgive debts. In modern times the concept of jubilee has been applied to the debt of third world nations. If Keen and other proponents are correct the time has arrived for a general debt jubilee to be applied to western democracies including New Zealand.
But why should people be absolved from mistakes in their personal financial decisions? What about the prudent amongst us who have paid off their debt or refused to accumulate any of it at all? Surely you cannot reward the reckless, for what kind of message does this send to people and how does it distort future behaviour if everyone thinks they will be bailed out at some point down the track.
These are all valid points and not without irony given the biggest opponents to jubilee would probably be the big creditors like the banks who have had the same criticisms leveled against their own bailouts. What the jubilee does is give the money to the debtor to repay their debt rather than to the creditor to maintain the debt. One is consumer/citizen friendly, the other bank friendly.
The way Keen gets around the moral hazard problem is to give everyone a large chunk of cash whether they have debt or not. The proviso is that anyone with mortgage, student, consumer or personal debt would have to have the money applied towards that debt. They would remove or radically reduce their debt and thus free up more of their current earnings for consumption or savings. They could not use their money to leverage more debt or speculate. There would be no incentive to load up on debt before a jubilee. The people without debt would be able to use their unencumbered money to spend or invest in the economy immediately, unlike borrowed credit with no interest attached, jump starting economic activity again. Keen doesn’t mention a figure but consider how your own and the nation’s situation would change if say every adult over eighteen got $100-200 000.
This leads to the other major criticism of this jubilee concept, that it would be hyper inflationary. After all we are talking in New Zealand’s case about the government creating hundreds of billions of dollars out of thin air. This would not necessarily be inflationary if a number of other things were done concurrently. The idea isn’t just to pay off debts and restart the current credit system – it is to completely reform and re-regulate credit to prevent the same lunacy of the GFC happening again.
Keen talks about nationalizing the banks. The government would use its newly “printed” money to expunge debts it had assumed in the nationalization. Debts wiped out are deflationary rather than inflationary given that in the current system the vast majority of all “money” in the system comes into being from the banks as interest bearing credit. One would cancel out the other so in the case of the indebted the new money cannot increase the money supply.
Nationalisation might not be necessary. As debts were paid off the private banks would either shrink dramatically or withdraw from the market without needing to be taken over. They are not being forced to take a loss on their loans, only having their future income stream from interest radically reduced. Yes there would be large job losses in the banking sector but people would in theory be reabsorbed by a newly stimulated low debt economy.
Of course the people without debt would now have much greater spending capacity and this would be potentially inflationary without strict regulation. Keen’s suggestion is that the level of all types of credit available to the economy from the reset point be reduced by an amount equal to or greater than the new money created. There would be no getting your cake and eating it too.
For instance taking this idea further, Loan to Value Ratios on property might decrease dramatically, almost certainly below 80%. Commercial banks remaining could still lend but only at 100% reserve and depositors chasing interest with them would do so at their own risk. Customers would have government guaranteed current accounts held by the banks at the Reserve Bank. These would not be part of the banks balance sheet and non interest bearing. If a bank failure happened, current accounts and the payments system would be unaffected.
Hey folks, we are so close to meeting the required signatures for ET Disclosure petition on the White House.gov website. If you have not signed the petition please do your part and click on the link and help take us over the 25,000 mark. I signed it over a year ago. If we can get over the 25,000 signatures before October 09, 2012 the galactics can’t say we failed to do our part of petitioning the government. –B
In response to an earlier petition: “The U.S. government has no evidence that any life exists outside our planet or that an extraterrestrial presence has contacted or engaged any member of the human race.”
Due to national security, the U.S. should conduct an investigation. Transparently review the National Space Council 1989 - 1993 with access to classified documents, the power to call witnesses and grant immunity, publicly presenting findings. Gain Self-Disclosure from our elected government representatives re: images of ET/UFO activities and conflicts between Ex-NASA Chief and the President. None ever shared publicly the details with a budget in the billions
It's up to you to build support for petitions you care about and gather more signatures. A petition must get 150 signatures in order to be publicly searchable on WhiteHouse.gov.
Over time, we may need to adjust the petition signature thresholds, but we'll always let you know what the thresholds are.
Signatures needed by October 09, 2012 to reach goal of 25,000
Hello All: Bix Comments on the federal reserve. God Bless Love to all
From: bix@roadtoroota.com
Date: Thu, 13 Sep 2012 13:37:38 -0400
Subject: ALERT: Gold & Silver Go Parabolic as Fed Announces QE to INFINITY!
LET'S THE GAMES BEGIN!
The Fed announced the beginning of QE3 with $40B in purchases of Mortgage Backed Securities PER MONTH without stating any end date or dollar amount. Here is the statement:
"the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month."
"If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability. "
No limits. No end date. This is QE to INFINITY!
Make no mistake...this is all on purpose. This is the END GAME and the blame for the global meltdown will be placed, rightfully, on the shoulders of the Federal Reserve.
Basically, the Fed has chosen to FALL ON IT'S OWN SWORD!
The Gold and Silver move upward has caught all the shorts off guard. The Bad Guys are in deep, deep trouble as they took their cues from the likes of Jeffrey Christian and Jon Nadler who were advising EVERYONE to short gold and silver.
Now it gets exciting!
PS - Ron Paul just happens to be speaking tomorrow night at the Liberty Political Action Conference...if you think that is a coincidence then I have some lovely swamp land to sell you in Florida!
The Federal Reserve announced plans to unleash more stimulus Thursday, in its third attempt at a controversial program to rev up the U.S. economy.
The policy, known as quantitative easing and often abbreviated as QE3, entails buying $40 billion in mortgage-backed securities each month. The end date remains up in the air, as the Fed will re-evaluate the strength of the economy in coming months.
The Fed is wasting no time. The purchases begin Friday and are expected to total about $23 billion over the remainder of September.
In addition, the Fed also indicated that it plans to keep interest rates at "exceptionally low levels" until mid-2015. Previously, the Fed had forecast rates would remain low until late 2014.
The central bank's main objective is to lower interest rates and mortgage rates in particular. By keeping rates low, the Fed hopes to fuel more spending and eventually, more hiring.
The policy "should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative," the Fed's official statement said.
Meanwhile, the Fed will continue its existing policy known as Operation Twist. Together the two programs will add $85 billion in long-term bonds to the Fed's balance sheet each month.
Read more: http://money.cnn.com/2012/09/13/news/economy/federal-reserve-qe3/index.html
Thomass is in contact with the Sasquatch and other interdimensional beings. He also has the ability to communicate with most life forms. Here he discusses what he has learned about this transition over the next 18 months.
In the past Dinar Recaps was the website I referred the group to for information. In the past month there has been an ongoing situation and controversy about Hammerman
which I did not share or address because I could see no value in spreading it around.
However, with Dinar Recaps posting Hammerman I have revised my thinking because without
all the knowledge you don't have the full picture.
Blaino at Planet Dinar had originally funded Hammerman's website, dinarian.com Recently, Blaino found out Hammerman was soliciting from his chat members for operating capital and other expenditures. This was confirmed because Hammerman told Blaino he would refund some of the subscription money and several of Blaino's friend did not get a refund. On top of this Blaino questioned the intel Hammerman was reporting so Blaino then had Hammerman banned from the Planet Dinar site and the dinarian.com site.
Since then, many people have been solicited and have gone to Reno to meet with so called agents to get a preferred rate. They either turned their dinars over to someone and never heard from them again or there was no agent there and they, having gone out of desperation, were left stranded in Reno with no back up resources.
Blaino has reported that Hammerman was involved with the Reno scam also, along with another woman. Last name Masters I think. Additionally, from the very first time Hammerman showed up on the Dinar scene, BMW at 3sintel would not let him post there. He never went into details but Hammerman was banned from that site right at the get go.
Hammerman had started another site after being banned at dinarian.com and now it seems his mods on that site are saying he lied to them and they have now banned him from it.
So, I say all this so when you see him giving out information on Dinar Recaps you will question what your reading. Remember, anybody can call themselves a Guru and send in a posting or info to the Dinar Recaps website. The only policing, credentialling of anyone involved with Dinars is by the Dinar/VND currency community itself.
Always be wary and DO NOT give your Dinars or VND to anyone else.
I challenge you to read this and NOT have the will to pass it on.
No one has been able to explain to me why young men and women serve in the U.S. Military for 20 years, risking their lives protecting freedom, and only get 50% of their pay on retirement. While Politicians hold their political positions in the safe confines of the capital, protected by these same men and women, and receive full-pay retirement after serving one term. It just does not make any sense.
If each person who receives this will forward it on to 20 people, in three days, most people in The United States of America will have the message. This is one proposal that really should be passed around.
Proposed 28th Amendment to the United States Constitution: "Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives; and, Congress shall make no law
that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States ."
I am getting several reports, some of which has been posted on chat rooms ----- That foreclosure folks have been and are getting letters that there mortgages are getting paid in full by the WORLD GLOBAL SETTLEMENTS. In short DEBT FORGIVENESS has started! WOW!
Don't know the details yet and waiting for more information. When I get it --- it be posted here!
Now let me see --- wasn't Debt Forgiveness part of the NESARA PLAN ---- nay --- couldn't be that this Nesara thing is for real!!!
Posted on September 13, 2012 by lucas2012infos | 1 Comment
According to British Intelligence sources, the recent killing in France of Saad Al-hilli and his family was carried out because his company manufactured equipment capable of detecting nuclear weapons from the air. It was his equipment that allowed for the detection and prevention of the recently planned nuclear terror attack on the London Olympics. He was killed in order to pave the way for future nuclear terror attacks by the fascist P2 Freemason lodge that is seeking to create mayhem before offering a fascist solution to the problem they created.
——————————————
Mandela
Hello Gail,
The Knights of Malta are not all part of this and I never meant to imply that a great man like Mandela was part of the Nazi cabal. I also understand that Freemason lodges come in many varieties
and they are often opposed to each other. The Scottish Rite Freemasons are in opposition to the Monte Carlo P2 freemason lodge. The Grande Lodge De L’Orient or the franco-freemasonry are also
a separate group.
The problem as I see it is that the Catholic Church is a schizophrenic organization. There are the good Catholics and Catholic charities that help the poor and the needy. Then there are the military
wings of the Catholic church who want a fascist world government and believe the means justify the end.
The murder of the US ambassador in Libya, the staged flag raising at the US embassy in Egypt etc. are all fake incidents being run by the Nazi New World Order faction who are trying to provoke
Christians and Muslims into fighting each-other before merging them into one group and using them to invade Asia and set up a world fascist government. It is their problem/reaction/solution
formula that they have used time and time again. We are demanding that they cease and desist such anti-social and evil behaviour and allow the world peace we all strongly desire.
Benjamin Fulford www.benjaminfulford.typepad.com
Submitted by Tyler Durden on 09/12/2012 22:43 -0400
Back in January, Pulitzer winning journalist Chris Hedges sued President Obama and the recently passed National Defense Authorization Act, specifically challenging the legality of the Authorization for Use of Military Force or, the provision that authorizes military detention for people deemed to have "substantially supported" al Qaeda, the Taliban or "associated forces."
Hedges called the president's action allowing indefinite detention, which was signed into law with little opposition from either party "unforgivable, unconstitutional and exceedingly dangerous."
He attacked point blank the civil rights farce that is the never-ending "war on terror" conducted by both parties, targeting whom exactly is unclear, but certainly attaining ever more intense retaliation from foreigners such as the furious attacks against the US consulates in Egypt and Libya.
He asked "why do U.S. citizens now need to be specifically singled out for military detention and denial of due process when under the 2001 Authorization for Use of Military Force the president can apparently find the legal cover to serve as judge, jury and executioner to assassinate U.S. citizens."
A few months later, in May, U.S. District Judge Katherine Forrest ruled in favor of a temporary injunction blocking the enforcement of the authorization for military detention. Today, the war against the true totalitarian terror won a decisive battle, when in a 112-opinion, Judge Forrest turned the temporary injunction, following an appeal by the totalitarian government from August 6, into a permanent one.
From Reuters: The permanent injunction prevents the U.S. government from enforcing a portion of Section 1021 of the National Defense Authorization Act's "Homeland Battlefield" provisions.
The opinion stems from a January lawsuit filed by former New York Times war correspondent and Pulitzer Prize winner Chris Hedges and others. The plaintiffs said they had no assurance that their writing and advocacy activities would not fall under the scope of the provision.
Government attorneys argued that the executive branch is entitled to latitude when it comes to cases of national security and that the law is neither too broad nor overly vague.
"This court does not disagree with the principle that the president has primacy in foreign affairs," the judge said, but that she was not convinced by government arguments.
"The government has not stated that such conduct - which, by analogy, covers any writing, journalistic and associational activities that involve al Qaeda, the Taliban or whomever is deemed "associated forces" - does not fall within § 1021(b)(2)."
What is ironic, is that in the ongoing absolute farce that is the theatrical presidential debate, there hasn't been one word uttered discussing precisely the kind of creeping totalitarian control, and Orwellian loss of constitutional rights, that the bi-party-supported NDAA would have demanded out of the US republic. Why?
Chris Hedges said it best:
The oddest part of this legislation is that the FBI, the CIA, the director of national intelligence, the Pentagon and the attorney general didn’t support it. FBI Director Robert Mueller said he feared the bill would actually impede the bureau’s ability to investigate terrorism because it would be harder to win cooperation from suspects held by the military. “The possibility looms that we will lose opportunities to obtain cooperation from the persons in the past that we’ve been fairly successful in gaining,” he told Congress.
But it passed anyway. And I suspect it passed because the corporations, seeing the unrest in the streets, knowing that things are about to get much worse, worrying that the Occupy movement will expand, do not trust the police to protect them. They want to be able to call in the Army. And now they can.
He is 100% correct, and today, if it weren't for his lawsuit, the saying that someone, somewhere in the world might possibly "hate America for its liberties" would have been the biggest lie conceivable.
Also, the total fascist takeover of America would now have been a fact.
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