Saturday, July 25, 2009

Organized crime ring.

Other than humanism in general, IE mans revolt against Gods revealed word, the Federal reserve is enemy number one. An Organized crime syndacate.
This is from Gary Norths member's side.

Bernanke's Nightmare: A Bureaucratic Bloodhound Named Barofsky
....Bernanke Caught Swapping Currencies
On the same day Barofsky was briefing Congress on his 250-page report, a film clip on YouTube showed Congressman Alan Grayson grilling the Federal Reserve's Ben Bernanke, who admitted to swapping $500 billion of US funds to central bankers in Europe in one day (this represents 25% of what the US collects in taxes in an entire year), in what appears to have been an attempt to alter the value of the US dollar and to influence the price of oil and the value of stocks. (Bernanke's testimony can be viewed here: YouTube - Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."

Federal Reserve Operates Out A Hidden Entity
Financial commentator Karl Denninger writes that Federal representatives may have opened multiple undisclosed-type accounts thru an entity known as State Street Global Advisors, located in Boston, over the past few months.

All of these accounts are allegedly handled by one single trader, writes Denninger, a trader "who is cocooned and isolated from interaction with other partners."

Denninger writes: "If, indeed, the Federal Reserve or other derivatives of the administration, are now directly involved in trading, managing repo terms, stock lending, collateral distribution and other liquidity-crucial aspects of what was once an efficient market, then indeed this recent stock market rally could be written off not merely as the biggest short covering rally of all time, but one that has been explicitly orchestrated by those who should be most impartial to an efficiently working market."

Denninger goes on to say that the Federal Reserve is explicitly barred from buying into anything that doesn't have the full faith and credit of the US government behind it (Federal Reserve Act Sections 13 & 14). This means the Fed's purchase of Fannie Mae and Freddie Mac paper are also outside the law.

Furthermore, the Fed's charter and operations manual state that liquidity operations are to be performed solely through the New York Fed's dealing desk so as to maintain transparency. The use of State Street Global Advisors in Boston would be outside that mandate.

The Fed Crushes American's Personal Investments
By examining activity at the New York Fed's dealing desk, Denninger detected a huge decline in liquidity of the stock market on September 24 of 2008, three days before the equity markets collapsed. Bernanke orchestrated this collapse via huge withdrawals of liquidity at the New York Fed dealing desk. This appears to have been an attempt to pressure Congress which was deliberating the TARP economic bailout package at that very moment in time.

By withdrawal of massive amounts of liquidity from the banking system, The Federal Reserve caused a 30% decline in the value of IRA and 401k accounts owned by millions of Americans.

The S&P 500 dropped from 1185 to 747.

Limitless Liquidity, Limitless Power

Denninger asks: "Do we want the Federal Reserve operating with essentially limitless liquidity to game the markets any time they'd like in violation of the law?"

If there is no transparency, and the Federal Reserve is working discretely through a sole agent (State Street Global Advisors), Denninger maintains that the Fed should be dissolved and criminal prosecution should follow.

Sunday, July 19, 2009

Big money and government sitting in a tree....

Glenn Beck is doing a nice job these days. The link takes you to Chalcedon where you can see the 9 minute you tube of Beck making some connections between the fed and Goldman Sachs.

Good. He makes the point that this business has captured part of the government. Gary North would correct him and say the Fed was from day one, set up to benefit big banking institutions. In this case it is one banking institution that will be favored above all others.

http://www.chalcedon.edu/blog/2009/07/goldman-sachs-are-they-american.php

Playing with the numbers all over the place...

HT to Gary North.

After awhile one starts to wonder if there is any area of life where the government is truthful with us.
FDIC Insurance Fund - It Doesn't Actually Exist
By Vernon Hill

When FDIC head Shelia Bair says her agency might have to bolster the FDIC's insurance fund with Treasury borrowings to pay for the new spate of bank failures, a lot of us, this 40-year banking veteran included, assumed there's an actual FDIC fund in need of bolstering.

We were wrong. As a former FDIC chairman, Bill Isaac, points out here, the FDIC Insurance Fund is an accounting fiction. It takes in premiums from banks, then turns those premiums over to the Treasury, which adds the money to the government's general coffers for "spending . . . on missiles, school lunches, water projects, and the like."

The insurance premiums aren't really premiums at all, therefore. They're a tax by another name.

Actually, it's worse than that. The FDIC, persisting in the myth that its fund really is an insurance pool, now proposes to raise the "premiums" it charges banks to make up for the "fund's" coming shortfall. The financially weakest banks will be hit with the biggest tax hikes...

Sunday, July 12, 2009

A Reason to party

What do you take note of, and commemorate within your houshold? Our culture has made a science of commemorating the trivial...celebrities.

Douglas Wilson had a great idea today for Calvins birthday....So those of you who were thinking ahead last week saved some of your best fireworks for this evening's celebration, and you still have time to get some really fine chocolates to give to all the kids this evening.....

Help fashion a biblical culture within your family,one that will last and help your childrens, children, be ready for what ever direction God wants to take history 200yrs from now. My kids barely know of Michael Jackson. They know of Calvin, Tyndale, Knox, Cranmer, Machen, etc.

Those names of today, that my kids know of, Phillips, Wilson, Rushdoony, Bahnsen, etc are all men who appreciated and were pushing forward what the earlier names from christianity were doing. This form of Christianity is about the Lordship of Jesus over all of life and not just, Lord of our hearts . These types of men have been deliberately ignored by the likes of "Christianity Today".

Let the dead bury the dead. Will your future offspring relate to ideas from the reformation and biblical Christianity? Or will they be comfortable sitting amonst the dead?

Just gave Nathan a toy dump trunk from goodwill. Told him it was part of celebrating Calvins birthday. No he doesnt "get it".

Its important that I "get it".

Ice cream tonight.........