What do you get when you cross a Dumbo with a Jackass? Answer: You get a dumb-ass, overweight US politician with a sterile mind who executes every order that comes from our Shadow Government like some sort of mindless automaton. In fact, we no longer have even a bogus two-party system with Dumbos and Jackasses. We note that there was never a dime's bit of difference between the two parties in any case (ask Herbert Hoover), but that is even more true today than it was during Hoover's administration, as the one world agenda, which both parties subscribe to, moves forward with lighting speed. Since we really only have one party now, we thought that we should take this opportunity to dub it the "Dumb-ass" party, seeing as how this party is now hell-bent on destroying our country, and themselves with it. If we are now starting to sound like the Mogambo Guru, so be it.
Case in Point: The Obama-Dodd-Frank Frankenstein Fed Big Bankster Bailout Bill (hereinafter referred to as the ODFFFBBBB). We thought that we would give credit for this toxic legislation to the three people most involved in sponsoring this bill who also happen to be three of the highest paid politicians in terms of their bankster-gangster campaign contributions. So we have Obama," Dodd, the whipping boy, gopher and yes-man for Wall Street who has never seen a bill that favored big bankster-gansters that he didn't like, and Frank, who compete's with Dodd for the post of top Wall Street whipping boy. What a motley crew (with no offense intended to the heavy metal band "Motley Crue," who are paragons of virtue compared to this group of miscreants).
So, the Dumb-ass party calls the ODFFFBBBB the much-needed financial reform that Main Street has been yearning for in the aftermath of the ongoing financial criminality being used to economically destroy not only our country, but also countries around the world, in order to pave the way for a one world Orwellian police state of feudality. Obviously, nothing could be further from the truth. There was nothing wrong with the old system up until Glass-Steagall was removed and the Commodity Futures Modernization Act implemented. Even after G-S was repealed and the CFMA passed (thanks Bill Clinton, Alan Greenspan, Robert Rubin and Larry Summers), there were still plenty of rules and regulations that very well could have prevented many of the current ongoing financial debacles. The problem was that no one used them. That is because they were instructed not to by our Shadow Government. So instead, our so-called regulators sat around watching porn as Rome burned. And if any of the states started to investigate due to the complete inaction of the federal regulators, their investigators ended up in a "honey pot" scandal like former NY Governor Elliot Spitzer, or were threatened with such, or were bought off.
The penultimate example of inaction was, of course, the Madoff Ponzi scheme, which, despite numerous warnings, continued to be uninvestigated or under-investigated as the New York Fed wire-transferred Madoff's investor's funds to Israel to help fund Illuminist off-shore retirement accounts. The losses were bogus, and the books were kept in a shambles, to obfuscate what was really a direct theft of funds by various Illuminist operatives with connections to Israel. You'll find many of these miscreants smoking cigars on the beach at Tel-Aviv after our country finally implodes and civil unrest ensues. But the inaction on Madoff was just the tip of the iceberg. You had the subprime debacle where politicians, borrowers, appraisers, ratings agencies, loan originators, investment bankers, brokers, Fed-heads and lawyers all lied through their teeth to keep the fraud going while regulators picked their noses. Then there were the astonishingly fraudulent activities that led to the municipal bond and municipal bond insurer meltdowns, the AIG debacle, the Lehman Brothers debacle, the Bear Stearns debacle, the LTCM and Enron debacles, and on, and on, and on.
There were plenty of statutes, rules and regulations that could have been, and should have been, used to stop these ongoing frauds. But the underlings made sure they did nothing as ordered. If they had attempted to do otherwise, they might lose their cushy job where they were paid big bucks to watch porn all day. Why would any Illuminist henchman-miscreant pass up on that opportunity? If our regulators did anything, it was the opposite of regulation, namely, they engaged in the whitewashing of criminal activity with totally bogus investigations, diminutive fines and no jail time, ever, for any Illuminists.
The system was never really broken, although weakened by the repeal of G-S and the passage of CFMA. The regulatory system does not therefore have to be fixed except to undo the repeal of G-S and to implement the regulation of OTC derivatives which were deregulated by the CFMA. Instead, the fix being suggested by the ODFFFBBBB is, in reality, even more toxic than the current system has become due to the complete lack of action by our regulatory authorities. This legislation is intended to create a Fearsome Frankenstein Fed, elevating it from a mere parasitical ghoul to a murdering, infamous monster, when it was the Fed that led the charge for deregulation. The fox will now guard the henhouse, and make the rules besides? Surely, you're joking, Mr. Obama, Mr. Dodd and Mr. Frank.
What is broken is not the system, but the morality of the people who run it. The system is owned by the Illuminati. If we don't oust the Illuminati by buying gold and silver by the truckload and by ousting all the incumbents and their ingrained corruption, the system will never be fixed, but will become ever more corrupt so that Illuminist cronyism and power consolidation can continue unabated until we are in bondage to a financial juggernaut which we have termed the Fearsome Frankenstein Fed.
We note that G-S, which we have used to denote Glass-Steagall, is also used sometimes to refer to the investment banking firm turned bank holding company, Goldman Sachs, aka the Vampire Squid. We find this rather interesting as these two name pairs with the same initials represent philosophies that could not possibly be more contrasting and opposite.
Let's take a look at the members of the new proposed Financial Stability Oversight Council (the FSOC). First, we have the Secretary of the Treasury (meaning the latest implant from the Fed or Goldman Sachs, in this case Tiny Tim Turbo Tax Geithner), who is also the Chairperson of the Council. Then we have Chairman of the Board of Governors of the Federal Reserve (Buck-Busting Ben, the fox who will watch the henhouse). Next we have the Comptroller of the Currency (John "I love GHW Bush" Dugan, who helped preside over the last culling of the small fry during the S&L Crisis as part of Bush Sr.'s Treasury Department), the Director of the Bureau of Consumer Financial Protection, who will be an Obama appointee (aka "consumer protection czar"), Chairman of the SEC (Mary "Jump Them Goldie Bones" Shapiro), Chairman of the FDIC (Sheila "Let No One Ever Be Held Accountable" Bair, aka Sheila "Let the Large Insolvent Banks Absorb the Small Ones" Bair, aka Sheila "Shotgun Bank Weddings" Bair), Chairman of the CFTC (Gary "Strong Dollar Policy by Gold Suppression" Gensler, aka Gary "Silver Fraud, What Silver Fraud?" Gensler, aka Gary "What Do We Need G-S and OTC Derivative Regulation For Anyway?" Gensler, Director of the Federal Housing Finance Agency (Edward "Hide Those GSE Losses" DeMarco, who will also come to be known as Edward "We Love to Eat Toxic GSE Waste from the Fed" DeMarco). Finally, we have a Presidential Appointee with some insurance expertise ("insurance czar") - hey Obama, how 'bout Hank Greenberg, former Chairman and CEO of AIG - he would be perfect!
As you can see, the entire Council is made up of nothing but Illuminist marionettes. Our nefarious Shadow Government wiggles their strings and they do their deceitful little tricks. Every one of them is an Illuminist automaton. So how on earth could you possibly expect these people to in any way improve our financial regulatory structure in a way that is going to benefit Main Street, other than by throwing us a few bones here and there to gain some credibility.
Then there is the new concept of the "non-bank financial company." This is how they intend to get all the major financial companies under the tentacles of the Fed. Who decides what a non-financial company is? Why the Fed does, of course, by making up its own regulations for making that determination. And who decides whether any specific non-bank financial company will get to be regulated by the Fed? Why its the Financial Stability Oversight Council, of course, by two thirds vote, which must include the Chairperson's yes vote, meaning former NY Fed President Tiny Tim Turbo Tax Geithner. Since the FSOC, aka Council of Illuminist Automatons, aka the new "CIA," are little more than Illuminist marionettes and the Chairperson is the former President of the NY Fed, well, we guess you get the picture by now. This is how the Fed will gain control over all the major banks, bank holding companies, investment banks, commodity brokers, broker-dealers, insurance companies, hedge funds, pension funds, and licensed lenders. Anyone big enough to threaten the system with a meltdown, especially those who could impact large Illuminist institutions, will be brought under the tentacles of the Fearsome Frankenstein Fed. We also note that the Council of Illuminist Automatons can only make recommendations to the Fed regarding its regulatory oversight, meaning that in the final analysis, the Fed can do whatever it wants to.
So now, if you are a threat to the Illuminati, they can regulate you out of existence, or arrange to have you eaten up or absorbed by larger Illuminist institutions. And if you want to be able to play with the big boys in the international financial markets, you had better do as the Fed says, and play by Illuminist rules, or you will be crushed. You either become a member of the Fed Crony Club, or you become a member of the Fed's Bankruptcy Club. The Fed will be able to enforce draconian regulations against institutions that do not play by their rules, while these regulations are never used against any Fed-friendly institutions, who will be able to do as they please just as they did before the Council of Illuminist Automatons was formed. All regulatory agencies will now do as the Fed instructs them, which means doing nothing, except where the Fed wants to crush a non-Illuminist institution. Illuminist institutions will continue to get diminutive fines and zero jail time. So much for financial reform.
Then there is the issue of bailouts and institutions that are too-big-to-fail. Illuminist institutions will still get bailouts, and the ODFFFBBBB sets up a 50 billion dollar fund to force the healthy non-Illuminist banks to pay for the losses suffered by the large Illuminist legacy banks on account of their rampant, ongoing financial fraud which these large bankster-gansters are using to destroy the US and world financial systems to make way for the global Orwellian police state envisioned by the New World Order. And only non-Illuminist banks will be deemed too-big-to-fail, except where the Illuminati have to break up one of their own to lend legitimacy and credibility to what they are doing. Yes, they will sometimes use their own as sacrificial lambs to gain credibility in the eyes of the public, as the current dog-and-pony show of regulatory teeth-baring with the Vampire Squid, aka Goldman Sachs, amply demonstrates.
In the end, however, remember that the plan is to destroy the world financial system, and many Illuminist banks will be destroyed financially, and be in need of a bailout, including the Fed. Not to worry, because the ODFFFBBBB has a stealth bailout provision. When the FDIC, as principal receiver and liquidator pursuant to the ODFFFBBBB, liquidates a failed institution under the ODFFFBBBB, they can use FDIC funds to pay off claimants in an amount equal to the failed institution's cash and cash equivalents, PLUS 90% OF THE "FAIR VALUE" OF ITS ASSETS that are available to be liquidated to wind down the failed institution. But since all the Illuminist, and many non-Illuminist, institutions alike are marking their assets to model instead of to market, the FDIC will be allowed to overpay the Illuminist claimants of any failed institution just as Tiny Tim Geithner overpaid Goldman Sachs on their AIG insured Lehman bonds. This is just a codification of previous shenanigans! First, the non-Illuminist institutions, banks and non-banks alike, will be forced to fail by the Fed which, pursuant to its new regulatory authority, will force them to mark their assets to market, forcing them into failure (unless they have large Illuminist claimants, in which case other reasons will be used to put the institution under while maintaining mark to model fantasy values so the Illuminist claimants can get paid in full). This will be done so the Illuminist institutions can scarf them up for pennies on the dollar. And if any Illuminist institutions might be negatively affected by any such liquidation, there is a special failsafe provision in the ODFFFBBBB that will allow them to get more than what they would get in straight liquidation as discussed later below.
This process of controlled destruction with the Fed acting as a god-like institution with the power to destroy or save any given financial institution is called culling out the small fry or eliminating the competition as was done in the S&L Crisis, yet another contrived Illuminist hit on the non-Illuminist savings and loan institutions. This legislation is also about enabling and empowering the Fed to punish any non-Illuminist bank or non-bank financial company that does things they disapprove of, like making large investments in gold and silver, for instance.
Once the small fry have been thoroughly culled, the Fed will decide which Illuminist institutions will survive and which will be allowed to fail to keep the rip-off of taxpayer funds and monster salaries and bonuses going. The surviving Illuminist institutions will be overpaid on their claims against other failing Illuminist institutions based on the government-sanctioned, bogus mark to model accounting, so that taxpayers, via the FDIC, will be left with assets that are worth a small fraction of the money that was used to pay off the Illuminist claimants involved in the liquidation. This is similar to what the Fed plans to do by having the GSE's buy back their toxic GSE waste based on bogus mark to model values to give the taxpayers yet another screwing. Mark to model fantasies are what the Illuminati like to call "fair value" these days.
This corrupt process will continue for as long as the Illuminati can keep the system going so that they can keep paying out outrageous salaries and bonuses to Illuminist henchmen courtesy of US taxpayers. When only a few major Illuminist institutions are left standing, these humongous institutions will be destroyed by the Quadrillion Dollar Derivative Death Star as planned in a worldwide economic destruction of the old nation-state economic system, where the Illuminati hope to force governments around the world to step in and create a one world system out of the remnants of the large Illuminist institutions which will all get bailed out under threat of a global depression. These remnants will be combined to form a new global financial system with unlimited diabolical power over all of mankind which the Illuminati plan to use to replace the old nation-state system which they are in the process of destroying as we speak. This "creative destruction," as Alan Greenspan, aka "Mr. Bubbles," likes to call it, is how we will get to the Mark of the Beast scenario from the book of Revelation.
As an aside, note the deafening silence in the media and newsletters concerning the Quadrillion Dollar Derivative Death Star. That is because if people truly understood the implications, they would be buying gold and silver by the truckload, along with their related shares, which together comprise your only salvation at this point. If you think a meltdown of the Euro zone electrified the gold market, the public's realization that the Quadrillion Dollar Derivative Death Star is on the verge of imploding would be like a million lightning bolts hitting the gold market all at the same time. In the eyes of investors around the world, gold would become as bright as the ensuing supernova from the gravitational collapse of the Quadrillion Dollar Derivative Death Star.
Note that the FDIC, which is the main regulatory authority charged with conducting liquidations of failed institutions of all kinds under the ODFFFBBBB bill, must liquidate commodity brokers and non-SPIC insured broker-dealers in the same fashion as firms that are liquidated pursuant to normal bankruptcy laws. This means that when all the commodity exchanges go down as the gold and silver Ponzi scheme frauds are unveiled, all the boneheads who invested in these gambling casinos will get vaporized. Not so with other institutions, where normal bankruptcy rules are suspended, meaning that many Illuminist claimants will not necessarily be cut off if the FDIC deems it necessary to pay them more than their fair liquidation share if necessary to minimize the FDIC's losses as receiver from the orderly liquidation of the failed institution. This can only be done with the consent of the Treasury Secretary, Tiny Tim, who will of course rubberstamp all requests favorable to Illuminists. Translation: If an Illuminist claimant of the failed institution is also insured by the FDIC, and that claimant might suffer losses or even go under as a result of getting only the normal liquidation payout amount, then the FDIC could give them more than they would normally get to prevent the FDIC from having to liquidate the claimant as well, thereby suffering further losses in a chain reaction of failures. Once again, this is another codification of ongoing shenanigans. So now Goldman Sachs or J P Morgan can get paid in full, or more than their fair share, for their Lehman bonds even if AIG goes under and the bonds are marked to market as long as they are insured by the FDIC and the FDIC would be putting them in harms way by paying only the usual liquidation amount. It's just another excuse for a taxpayer-funded bailout.
Now here's the kicker. The original Obama financial reform bill talked about the Fed working hand in hand with the FDIC in terms of figuring out how to fund the liquidation plans of failed institutions. In other words, the Fed would arrange to provide the funds necessary to pay off claimants while the FDIC was in the process of selling off assets in an orderly fashion. The Fed would put up the money based on the cash plus 90% formula so that the assets did not have to be sold off in fire sales for far less than they were prospectively worth. What this really means of course is that when an institution with big Illuminist claimants fails, the Illuminist claimants of the failed institution will get their claims paid based on mark to model fantasy values for the failed institution's assets. That way, when the assets are sold later on for far less than their mark to model fantasy values, the taxpayers will get stuck with the bill, not the Illuminist claimants. And here is where it gets interesting in the ODFFFBBBB version. In the ODFFFBBBB version, all talk about the Fed working with the FDIC is removed. Instead, the bill obfuscates this issue by stating that the FDIC may issue obligations to the Secretary of the Treasury to help fund the "orderly liquidation" (i.e. to fund the payment of claims filed by large Illuminist institutions). But where then does the Treasury get the money to be doled out to the FDIC in return for the FDIC's obligation to the Treasury? The money is created by the Fed out of thin air, of course, as only the Fed has the monopolistic privilege of creating paper or digital counterfeit money out of thin air, at interest to taxpayers no less. So the Fed will of course be involved all along the way, but they don't want you or Congress to know that, since the Fed has become very unpopular as of late, with much of that unpopularity arising in connection with the Fed's involvement in many of the big bailouts that have incensed the public on account of the cronyism and accounting frauds that have come to light. So all we get from the ODFFFBBBB is the same old, same old. Once again, so much for financial reform.
Then we have the creation of the Office of Financial Research. This is a euphemism for a Fed spy agency that will be created and empowered to snoop among Fed-regulated banks and non-bank financial companies so the Fed can investigate and get the goods on non-Illuminist financial institutions. That way, the Fed will know their weaknesses so they can extort them, punish them or put them under at will. This will also provide the Fed with oodles of insider trading knowledge which they can pass on to their various operatives. How do you think that Goldman, JP Morgan and Bank of America can go an entire quarter with no trading losses. They are front-running trades, and working hand in hand with the PPT as it manipulates world markets 24/7. And now they will have yet more tools at their disposal. Their perfect trading records for Q1 of 2010 tell you in spades that the system is rigged against non-Illuminist investors. This totally blatant and arrogant criminality is simply unprecedented.
Most importantly, the bill to audit the Fed has been gutted from a full audit to a disclosure about who the Fed doled out money to in the aftermath of the 2007 credit crunch and subprime debacles. This is better than nothing and could lead to a more complete audit if the findings warrant it, but this buys the Fed a lot more time to milk the system for all it is worth before the Big Takedown is executed and everything is destroyed. Then the audit will be of little use other than for a revenge vendetta against the Fed. With the world financial system in shambles, the Fed hopes that people will be too preoccupied with their own problems to worry about the nefarious dealings of the Fed that have gone on now for almost a century.
If Congress really wanted reform, they would reinstate Glass-Steagall, regulate the OTC derivatives market, thoroughly audit and terminate the Fed while transferring its powers to the Treasury Department, terminate and disband the PPT, implement the "Volcker rule" against proprietary trading by banks, require that the FASB (Financial Accounting Standards Board) enforce mark to market rules for financial reporting, stop all black box front-running trading activities, fire and investigate for fraud and obstruction of justice virtually all of the regulatory heads who fiddled and watched porn while Rome burned, expand the funding and manpower available to all regulatory authorities, encourage the state regulatory agencies to intervene wherever and whenever they desire, insist on thorough policing of the system with full accountability for regulatory failure, and thoroughly investigate and punish all past financial crimes, with plenty of jail time and humongous fines to be doled out to provide a deterrent against future criminality. And most of all, require full accountability for losses without so much as another dime going to bail out financial criminal fraudsters.
Did we get any of that in this bill? Not a freaking one! This shows you in no uncertain terms that your Congress has no intention whatsoever of implementing any meaningful financial reform whatsoever. All the ODFFFBBBB does is it allows the criminals at the Fed, and that run the large Illuminist financial institutions, to continue to game the system with even greater power than they already have. This bogus, so-called reform bill creates a systemic monstrosity with god-like powers that will be used to suck up all the wealth from taxpayers and non-Illuminist financial companies as by a parasite's proboscis, siphoning their lifeblood upward to the Illuminist players at the top of the financial food chain. Everyone but the Illuminati will be abjectly impoverished as the old nation-state economic system is destroyed. The Illuminati want everyone to be as vulnerable as possible when they take the system down, to bring them to their knees so they will accept a one world government. Any Congressional miscreant who votes for this bill should be thoroughly punished in November. Voting lists will be provided so you can show your "heartfelt appreciation" for our "beloved" Congress's ongoing slime-ball activities this November.
The import price index reached 0.9% in April compared to 0.5% in March, however failed to match analysts’ predictions of 1.0%. Over the year, the import price index registered 11.1% in April compared to 11.3% at last reading.