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dimanche 9 décembre 2007

Émission de L'Autre Monde du 9 décembre 2007: Système bancaire, inflation et monnaie de papier, NORFED et Liberty Dollars, économie






Émission de L'Autre Monde du 9 décembre 2007: Système bancaire, inflation et monnaie de papier, NORFED et Liberty Dollars, économie


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- Nous décorticons l'histoire du système fractionnaire bancaire et monétaire, la création de la monnaie de papier, l'inflation. Nous abordons aussi le cas de la NORFED qui a été saisie par la FED par le FBI.

- Il est aussi question cette semaine de la tactique vieille comme le monde de lier la dissidence politique au terrorisme et l'ennemi qui est de plus en plus ouvertement utilisée en amérique.

- Et bien sûr la cyber revue de presse de la semaine et la bonne musique!


Voici les liens et sources des sujets de l'émission d'aujourd'hui:






- Le système bancaire

The Nature of Money

Where it came from - Where it's going


Banks Gone Wild

The answer, of course, is that they were high on the usual drug — greed. And they were encouraged to make socially destructive decisions by a system of executive compensation that should have been reformed after the Enron and WorldCom scandals, but wasn’t.

Folks, this is a rep[eat of the S&L debacle of the 1980s. and, it is worth recalling that the taxpayers were forced to pick up the tab for that mess, while a lot of the insiders got very, VERY rich.

A Bush was President for both disasters, and I no longer believe in coincidences.

I think We The People are about to get screwed again.


The Crash of 2008?

When Wall Street crashed, there came a run on the banks by men who had bought on margin, a depositors' stampede, a bank collapse, a wipeout of uninsured savings and the loss of a third of the money supply, lifeblood of the economy. The Fed never gave the nation the needed transfusions. Hoover and FDR, misdiagnosing the crisis, raised taxes and wrote up new regulations, which was like putting a body cast on a patient in shock from the loss of a third of his blood.


Florida Just First to Face National Run on the Bank

The investment pool, which contained $27 billion this summer, now has $14 billion, the result of withdrawals by municipalities with keenly developed senses of self- preservation. On Nov. 29 the board told the remaining participants they couldn't withdraw any more money from the pool.


88% EROSION OF PURCHASING POWER - AND CONTINUING


Thank you, Federal Reserve.


2-Important Questions


1. Is the U.S. a Free-Market Economy?
2. How can it be free if there is a federal reserve bank manipulating the money supply?

And the answer is > "To the extent that there is a central bank governing the amount of money in the system, that is not a free market," said former Federal Reserve Chairman Alan Greenspan said in September 2007 (on T-V to Jon Stewart)
There you have the answer to our questions > This is not a free market.

What will today's 12 cent dollar be worth when our grandchildren enter the work force? What will it be worth when they retire?

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit (debt creation)." by Allan Greenspan (#8) in The Objectivist newsletter published in 1966, reprinted in Ayn Rand's Capitalism: The Unknown Ideal.

With those soaring prices, let us now look at what happened to the purchasing power of a single dollar - - from 1950 to today > >

88% Decline of a Dollar's Purchasing Value since 1950

This chart shows an 88% reduction in the value of a dollar (its internal purchasing power) since 1950, where a dollar of 1950 is worth but 11.9 cents today - based on the consumer price index. Restated, an average cpi item costing $10 in 1950 costs $88 today.

It takes $10,000 cash today to purchase that which $1,190 would purchase in 1950. And with higher combined federal & state/local tax rates today compared to then, it takes even more. Typical example: you need 39 cents as of 2006 to purchase the same stamp that cost just 3 cents in 1950 - - a 1,300% price increase - - and nobody dare claim any quality improvement for that increase.

Who benefits from this performance? Answer: the financial sector and governments at all levels (and proponents of big government over families), as revenue streams are accelerated by both tax bracket creep, extending the caps for social security taxes, property taxes, and sales taxes. Inflation camouflaged government growth, as it expanded to consume and control a larger share of the economy.


Big Question: What is the reason for this horrendous erosion of the purchasing power of a dollar?
Answer: The chart at the top of this page argues that the cause is due to the creation of the Federal Reserve (in 1913), followed by the absence of a gold standard (since 1933) to restrain this Federal Reserve, allowing the Federal Reserve's banking system to create piles of new dollars and debt out of thin air. For proof of this answer, see the following statements of Federal Reserve chairman Alan Greenspan >

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. The abandonment of the gold standard made it possible for welfare statists to use the banking system as a means to an unlimited expansion of credit (debt creation)" - Alan Greenspan (#8), 1966

"It was the case that the price level in 1929 was not much different, on net, from what it had been in 1800. But, in the two decades following the abandonment of the gold standard in 1933, the consumer price index in the United States nearly doubled. And, in the four decades after that, prices quintupled. Monetary policy, unleashed from the constraint of domestic gold convertibility, has allowed a persistent over issuance of money. As recently as a decade ago, central bankers, having witnessed more than a half-century of chronic inflation, appeared to confirm that a fiat currency was inherently subject to excess." -


Chairman Alan Greenspan Before the Economic Club of New York, December 19, 2002 "Issues for Monetary Policy" (http://www.federalreserve.gov/boarddocs/speeches/2002/20021219/)

Read that last quote again. It states there was zero inflation for 129 years from 1800 to 1929. But, once the gold standard was abandoned there was no restraint on the creation of money and debt out of thin air by the banking system - - and inflation soared, as shown by the charts above. Additionally, as the first chart shows, there was next to zero inflation for 113 years from 1800 to 1913 before the Federal Reserve was created. It appears government and the financial sector wanted inflation to replace stable prices (zero inflation), and the Federal Reserve was created and soon after the gold standard was eliminated to accomplish same.

"Inflation is always and everywhere a monetary phenomenon. To control inflation, you need to control the money supply." Milton Friedman, Nobel Laureate in Economics.

As money supply exploded 3,000% - -

The dollar's purchasing power collapsed 85%,

- - as proven by this chart.

The left chart compares growth of the broad money supply M3 (red curve) with the the shrinking value of a dollar as determined by the cost of living index (cpi-all items) - blue curve.

The rising red curve shows growth of the money supply since 1959, the value of which is shown on the left axis in billions of dollars - from $302 billion in 1959 to $11.5 trillion in 2006. ( M3 data: economagic.com).

(the 'broad' money supply is defined by economists as the 'M3' of money, being the sum of all cash, checking and savings accounts, small and large time deposits and money market funds).

The declining blue curve (taken from the chart at the top of this page) represents the falling buying value of a 1950 dollar, per the right axis shrinking from a value of 83 cents in 1959 to 11.8 cents in 2006 - representing 88% loss in purchasing power since 1959. (based on cpi data: table B-60, 2004 President's Economic Report).

This chart certainly appears to validate Dr. Friedman's above statement > "Inflation is always and everywhere a monetary phenomenon. To control inflation, you need to control the money supply."





- NORFED et Liberty Dollars








Unfair seizure of coins

The company has been in business for 10 years and they have not been targeted by the U.S. government until now. In fact, both the United States Mint and the Federal Reserve have admitted that what the company was doing was perfectly legal.

What is the reason for the raid by the FBI if the company had been operating lawfully for nearly 10 years?

Earlier this year the company began minting two new coins, the 2008 "Peace Dollar" with the words "STOP THE WAR" on the reverse side and the 2008 coin commemorating the presidential campaign of Ron Paul. The Feds just have to stop Representative Ron Paul somehow, since he is the only presidential candidate who is pro-liberty.


If the FBI are busting the Liberty Dollars, why aren't they busting THESE guys!


The Phoenix Dollar

Here is yet another alternative currency company, offering silver dollars made of real silver. And no FBI raid.

I am beginning to think that Liberty Dollar was taken down because Bush was jealous over the Ron Paul dollar.

I am really pissed at myself I didn't get my order in for a Ron Paul dollar in time.


The Precedent for the Ron Paul Dollar

The details of the case are complicated, but there are two issues that I can address without going into all the claims and counterclaims. How is it that the US government has the power to prohibit people from using alternative forms of money (i.e., the first provision), and how is it that the coins of NORFED resemble those of the United States (the second)?


A Bright Shiny Lesson in Government Theft: How the Feds Seized My Silver Dollars




-L'économie et le crash qui s'installe


Innovating Our Way to Financial Crisis

How bad is it? Well, I’ve never seen financial insiders this spooked — not even during the Asian crisis of 1997-98, when economic dominoes seemed to be falling all around the world.


Chinese TV: Dump the Dollar

Chinese lunchtime television on Friday gave ordinary people a basic tip on how to play the currency markets: sell the dollar!

This is not good.


House prices seen falling 30 pct

Housing markets from Punta Gorda, Florida, to Stockton, California, will crash and suffer price drops of more than 30 percent before the housing crisis is over, a report from Moody's Economy.com said on Thursday.

You will start hearing the phrase "negative equity" more and more often.


Crime scene: foreclosure

Cleveland's mortgage meltdown has sparked a crime wave in the nation's hardest hit area for troubled homeowners.


OECD Says U.S. Subprime Losses May Reach $300 Billion


Price tag in mortgage crisis is looking like real money

The mortgage meltdown is taking a rising toll on the broader economy, increasing pressure on the Federal Reserve to slash interest rates for a third time next month in hopes of averting a recession.

Homeowners will see their property values sink by $1.2 trillion next year, and 524,000 fewer jobs will be created -- both a result of the trouble caused by loan defaults and rising foreclosures, according to a report released this week for the U.S. Conference of Mayors.


Japanese shift cash out of U.S. investments

Many in Japan are starting to speak of "quitting America," but they are not talking about a rise in anti-American political fervor. Rather, they mean a move away from American investments that is altering global capital flows and helping to weaken the dollar.


Oil leaders' private debate televised by mistake

'Kill the cable, kill the cable,' shouted the security guard as he burst through the double doors into the media room at the Intercontinental Hotel in Riyadh, followed by Saudi police. It was too late.

...

On Friday night, during what the participants thought were private talks, Venezuela's oil minister Venezuela Rafael Ramirez and his Iranian counterpart Gholamhossein Nozari, argued that pricing - and selling - oil using the crippled dollar was damaging the cartel.


More bad news for the dollar as the UAE gets ready to dump it


Don't look now: Here comes the recession

The cash registers were ringing on Black Friday, but make no mistake: American consumers are jittery, and seem all but certain to push the U.S. economy into recession.

Sure, blame the ordinary Americans for not borrowing and spending more to keep things going!

Let us not mention the out-of-control government debt that has choked out economy with higher taxes and reduced benefits.

Let us not mention the tax cuts for the rich which were promised to stimulate job creation but which in fact accelerated the flow of higher paying manufacturing jobs to foreign shores, aided by yet more tax incentives.

Let us not mention how Bush's war spending has drained the wealth of the nation and put it into the pockets of a select few while the product of our labors lies rusting in the deserts of Iraq alongside the pale forms of our dead children.

Let us not mention the Federal Reserve as it pumps billions and billions of worthless phantom dollars into the banks to spare them from the effects of their reckless sub-prime follies.

Let us not mention the billions of tax dollars sent to Israel while American men and women sleep in the alleys and eat out of trash bins.

Let us not mention any of these things at all. Let us, as always, place the blame on the consumers who fail to buy what they are told to buy.


Foreclosures up 165 percent in Florida

Foreclosure fallout: Renters forced out of lost homes

In most states, when a bank forecloses on a landlord, the tenant has no guarantee of being allowed to stay in the property. In addition, neither the bank nor the landlord has any legal obligation to inform the tenant of the foreclosure. Often, the renter first learns of the foreclosure when he or she is being told to vacate the property within a few days or weeks.

U.S. incomes fall, spending flat in October

Inflation eats away at modest gains in wages and salaries.

Forecast: U.S. dollar could plunge 90 pct

A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."

Don't say you weren't warned!

Canned foods and shotguns, people. Canned foods and shotguns.

Shadow Mortgage Bailout Already in Progress

The majority of Americans are against a government sponsored mortgage bailout for borrowers and lenders, but that hasn't stopped the government from working behind the scenes to carry out several plans meant to transfer risk and responsibility to the public.

Policymakers have very carefully orchestrated a shadow mortgage bailout.

Treasury Sec Paulson Expects Tidal Wave of Mortgage Problems; and One Republican Senator is blocking Major Interventions

While all the signs of a perfect economic storm are registering more and more clearly, Bush admin is waffling and barely waking up, while a single lone Republican senator is blocking even minimal intervention.

The goal of any government is to extract the greatest amount of work product from the population with the lowest cost of upkeep. The problem with capitalism, from the government's point of view, is that the population always demands a higher and higher lifestyle for their labor. At some point, the government, in order to keep its power and authority over the people, in order to sustain the enforced wealth differential without which capitalism cannot function, must have an "impoverishment mechanism" and when taxes are not sufficient to keep the majority of people too poor to quit working without triggering a revolution, then some other mechanism that the government can deny responsibility for must be created.

We may be seeing that right now.

Crude oil prices break $99

Crude oil prices rose above a record $99 per barrel Wednesday as worries about inadequate winter supplies in the Northern Hemisphere and news of refinery problems stoked bullish sentiment.

The declining U.S. dollar and speculation that the U.S. Federal Reserve will again cut interest rates also boosted prices. Some investors put their money into oil contracts, betting that gains in their price will offset dollar weakness. "The market is now really looking at $100 a barrel as the next target to hit," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "The fact that we are having this surge in pricing in this short trading week underscores the strength of this bull run for oil."

Freddie Mac Loses $2B, Seeks New Capital

Freddie Mac, the nation's No. 2 buyer and guarantor of home loans, lost $2 billion in the third quarter and said Tuesday it must raise fresh capital to meet regulatory requirements. Its shares fell 25 percent.

Dollar stays weak as Iran joins fray on greenback weakness

The dollar's woes continued for yet another day with Iran's call for oil cartel OPEC to recognise the currency's relentless falls highlighting just how far sentiment on the greenback has deteriorated.

****Is China Blackmailing America?

China now controls 44% of America's foreign debt. (Over the last couple of years Russia, Japan, Saudi Arabia, Kuwait and our other allies around the world stopped buying our debt bond issues. China stepped up to the plate and bought when everyone else was selling. Almost single-handedly China has kept the dollar solvent in order to protect their balance of trade.) Beijing's threat to dump debt bonds was as much a threat to the tough talk from Sen. Hillary Clinton and the Democratic Party as it was to the Bush Administration to keep the Federal Reserve and the US Treasury in check.

Fed makes biggest temporary injection since '01

The Fed injected $47.25 billion in temporary reserves, its biggest combined daily infusion since September 19, 2001, to calm a rise in overnight interbank lending rates.

Florida Holds $2.2 Billion of Debt Cut to Junk Status

The Florida agency that manages about $50 billion of short-term investments for the state, school districts and local governments holds $2.2 billion of debt that was cut below investment grade.

U.S. Production Unexpectedly Falls Most Since January

Industrial production in the U.S. unexpectedly dropped in October as slowing sales prompted factories to make fewer automobiles and appliances.

Goldman Sachs Betting Crisis Going On

Goldman Sees Subprime Cutting $2 Trillion in Lending

The slump in global credit markets may force banks, brokerages and hedge funds to cut lending by $2 trillion and trigger a ``substantial recession'' in the U.S., according to Goldman Sachs Group Inc.

Losses related to record home foreclosures using a ``back- of-the-envelope'' calculation may be as high as $400 billion for financial companies, Jan Hatzius, chief U.S. economist at Goldman in New York wrote in a report dated yesterday. The effects may be amplified tenfold as companies that borrowed to finance their investments scale back lending, the report said.

So, if we work this through,. it appears that the ONLY way business gets done in the US is through borrowing. No borrowing; expect hard times.

Foreclosures nearly double from year ago: report

Overall, residential foreclosure filings nearly doubled in the third quarter from a year earlier, RealtyTrac reported earlier this month.

HSBC to take $3.4 billion charge over U.S. loan losses

HSBC Holdings on Wednesday said it would have to write off a further $3.4 billion from its U.S. business during the third quarter, but said profit before tax will increase because of strong growth from Asia and the Middle East.

The lender, one of the first to report the damage from U.S. subprime mortgages, said it's taking a $3.4 billion loan-impairment charge in its U.S. consumer finance business during the third quarter, which it said was $1.4 billion higher than would have been implied by extrapolating first-half trends.

BofA to take $3 billion writedown

Recession fears grow as inventories swell

Unsold goods are piling up in warehouses as the housing meltdown and soaring oil prices strain consumers, raising fears that already glum fourth-quarter growth prospects may tip toward recession.

Federal Reserve Chairman Ben Bernanke warned last week that economic growth would slow from the third quarter's surprisingly strong 3.9 percent annual rate. But recent data on inventories suggests the slowdown may be even more severe than the central bank has anticipated.

Home Foreclosures ... Credit Crunch ... Trouble Brewing for U.S. Economy

In late October, Merrill Lynch reported $2.2 billion in net losses. Citigroup reported $11 billion losses and a 57% decline in profits for the third quarter amidst serious volatility in the stock market.

The present credit crisis is the result of a partial deflation of the housing bubble in the U.S. and other debt bubbles that developed as a result of the slashing of U.S. interest rates from 2002 to 2005. The global financial system is now facing a serious threat.

'Sub-prime black hole is getting scarier'

Blackstone's president warned that the sub-prime crisis on Wall Street was getting "deeper, darker and scarier" yesterday as the US private equity firm posted a loss for the third quarter, hit by a fall in real-estate revenues and charges related to its initial public offering.

Shares in Blackstone fell 8.3 per cent as it revealed a net loss of $113m55m) for the three months to the end of September, under the impact of $803m of non-cash charges related to its IPO on the New York Stock Exchange in June. The real-estate division, where quarterly revenues were down by 44 per cent, came under pressure from the sub-prime mortgage crisis. In contrast, the firm reported net income of $372.5 m last year.

Dollars no good for the Taj Mahal

Foreign tourists to many of India's most famous landmarks will no longer be able to pay the entrance fee in dollars, the government says.

The ruling is aimed at safeguarding tourism revenues following the recent falls in the dollar.

Until now, foreign tourists to sites such at the Taj Mahal have had the option of paying in dollars or rupees.

The ruling will affect nearly 120 sites of interest run by the Archaeological Survey of India (ASI).

Of these, at least 27 are World Heritage sites, including the Taj Mahal.

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