14 September, 2008

The Illusionists’ Bubble

Posted by Socrates in Big Finance, economy, Federal Reserve system, jewed finance, Socrates at 7:32 pm | Permanent Link

The Jewish money-magicians are no doubt fretting as their magic act – which has been performed continuously since 1913 – faces an uncertain future:

[Article] (note that von Mises himself was a Jew).


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    6. 18 Responses to “The Illusionists’ Bubble”

      1. Olde_Dutch Says:

        Oh. So now the jews and shabbos goy at the von Mises Institute are re-inventing themselves on China PNTR & trade with China in general.

        Back in ’99 none of these “libertariantards” had anything bad to say about China PNTR—which was an investment treaty that took the brakes off of any control of the China trade. PNTR was a blank check given to China by our Congress.

      2. Olde_Dutch Says:

        I really find it hard to believe that corrupt self-interest is behind the various moves the Fed & the banking industry has been making since the repeal of the Glass-Steagal Act—but—at this point that’s the only explanation that makes sense!

        Watch the jews and their shabbos goyim re-invent themselves…

      3. Zarathustra Says:

        As the former Pope of Money for the Jewish Central Bank, Allen Greenspan is largely to blame for the current banking/loan/mortgage crisis. He repeatedly slashed interest rates and pumped huge amounts of worthless paper dollars into the global economy in order to forestall the inevitable economic collapse. But he is still feted in the Jewsmedia as a hero.

      4. Olde_Dutch Says:

        All of these big name college geniuses have their fingerprints all over this financial crime spree. Will they pled ignorance or stupidity?

        Like Linder has pointed out all of the big name law schools are jewed; I’m sure you would find the finance & mba programs are too.

      5. Olde_Dutch Says:

        All of these big name college geniuses have their fingerprints all over this financial crime spree. Will they plead ignorance or stupidity?

        Like Linder has pointed out all of the big name law schools are jewed; I’m sure you would find the finance & mba programs are too.

      6. Z.O.G. Says:

        Who Controls the Federal Reserve System?

        The Federal Reserve System is divided into two parts: the Federal Reserve Board of Governors, located in Washington DC, and the Federal Reserve District Banks, located throughout the United States. Here is the official website of the Federal Reserve Board of Governors:

        http://www.federalreserve.gov/aboutthefed/default.htm

        If you examine this page, you will see that there are five members of the Federal Reserve Board of Governors. You will also see that all five(5) of the board members are Jewish. This is a numerical representation of 100%. Why is this important? It’s important because Jews only constitute about 2% of the United States population*. So the odds that all five members of the Federal Reserve Board of Governors would be Jewish are infinitesimally small. Here are the five members of the Federal Reserve Board of Governors:

        Benjamin S. Bernanke – Jewish
        Donald L. Kohn – Jewish
        Kevin M. Warsh – Jewish
        Randall S. Kroszner – Jewish
        Frederic S. Mishkin – Jewish

        Now, if you examine the presidents of the twelve Federal Reserve District Banks, you will discover a similar pattern of Jewish over-representation. Here is the section of the Federal Reserve Board of Governors’ website that lists the twelve Federal Reserve District Banks and their respective presidents:

        http://www.federalreserve.gov/aboutthefed/bios/banks/default.htm

        If you examine this section, you will see that there are twelve Federal Reserve Bank presidents. You will also see that nine(9) of the twelve presidents are Jewish. This is a numerical representation of 75%. Again, this is important because Jews only comprise about 2% of the United States population*, so the chances that nine of the twelve Federal Reserve Bank presidents would be Jewish are incredibly miniscule. Here are the twelve presidents of the Federal Reserve District Banks:

        FRB of Boston: Eric S. Rosengren – Jewish
        FRB of New York: Timothy F. Geithner – Jewish
        FRB of Philadelphia: Charles I. Plosser – Jewish
        FRB of Richmond: Jeffrey M. Lacker – Jewish
        FRB of St. Louis: James B. Bullard – Jewish
        FRB of Minneapolis: Gary H. Stern – Jewish
        FRB of Kansas City: Thomas M. Hoenig – Jewish
        FRB of Dallas: Richard W. Fisher – Jewish
        FRB of San Francisco: Janet L. Yellen – Jewish
        FRB of Cleveland: Sandra Pianalto – White European
        FRB of Atlanta: Dennis P. Lockhart – White European
        FRB of Chicago: Charles L. Evans – White European

        This extreme numerical over-representation of Jews among the members of the Federal Reserve Board of Governors and the Federal Reserve District Bank presidents cannot be explained away as a coincidence or as the result of mere random chance. You must ask yourself how such an incredibly small and extremely unrepresentative minority ethnic group that only represents about 2% of the American population could so completely dominate the highest levels of the United States Federal Reserve System.

        * Jewish Population of the United States by State:
        http://www.jewishvirtuallibrary.org/jsource/US-Israel/usjewpop.html

      7. Z.O.G. Says:

        Who Controls The World Bank, The International Monetary Fund, and the Bank for International Settlements?

        The World Bank
        President: Robert B. Zoellick – Jewish
        http://go.worldbank.org/IHDUWCAI20

        The International Monetary Fund
        Managing Director: Dominique Strauss-Kahn – Jewish
        http://www.imf.org/external/np/omd/bios/dsk.htm
        First Deputy Managing Director: John Lipsky – Jewish
        http://www.imf.org/external/np/omd/bios/jl.htm

        The Bank for International Settlements
        Chairman, Board of Directors: Jean-Pierre Roth – Jewish
        Vice-Chairman, Board of Directors: Hans Tietmeyer – Jewish
        http://www.bis.org/about/board.htm

        Jews comprise less than 1% of the population of the Western world*. So the probability that the heads of the World Bank, the International Monetary Fund, and the Bank for International Settlements would all be Jewish is infinitesimally small. You must ask yourself how such an incredibly small and extremely unrepresentative minority ethnic group could control all three of these important and influential international banking institutions.

        * The Jewish Population of the World
        http://www.jewishvirtuallibrary.org/jsource/Judaism/jewpop.html

      8. Z.O.G. Says:

        I see that no one on this site ever mentions the basic problem with modern monetary systems, the fact that they are interest based and debt based.

        Quick, here’s a pop quiz. When a bank makes a loan, the bank creates the money for the principal portion of the loan, but the bank does NOT create the money for the interest that is charged on the loan. So where does the money come from to pay the interest on the loan? See if you guys can figure this one out. It’s quite a brain teaser. :-)

      9. Z.O.G. Says:

        I also never see anyone mention the distinction between private money and public money. Right now we have private money. Our money supply is created by commercial banks, which are private corporations. But it doesn’t have to be like this. The United States Treasury Dept. has the Constitutional authority to create an unlimited amount of money and credit, INTEREST FREE AND DEBT FREE. In fact, all sovereign national governments have this right. But no sovereign national governments on this planet actually create their own money supply. In every nation in the world, the money supply is created by private commercial banks, and this private money is all interest based and debt based. Why is that? Do you know?

      10. Zarathustra Says:

        No long, elaborate explanations are required to discern the root causes of our economic problems. All that need be said is that we have let the International Jew seize control of our banks and economy. The Constitution may say this or that, it doesn’t matter any more. We now have no choice but to destroy the present system and build a new one.

      11. olde_dutch Says:

        “In fact, all sovereign national governments have this right. But no sovereign national governments on this planet actually create their own money supply. In every nation in the world, the money supply is created by private commercial banks, and this private money is all interest based and debt based. Why is that? Do you know?”

        Because communism was a failure. LOL

      12. Olde Douche Sucks Says:

        Because communism was a failure.

        Communism failed because it was designed to fail, Olde Douche.

      13. Z.O.G. Says:

        olde_dutche,

        Did you know that government of Nazi Germany under Hitler was created money that was INTEREST FREE AND DEBT FREE and that this was the reason that Hitler was able to take Germany out of a severe economic depression and turn it into the greatest industrial power in the world in just a few short years? Did you know that this was most likely one of the main reasons for WWII in the first place? The Jewish commercial bankers and central bankers did not want this competing money system to be adopted by other Western nations and so NS Germany had to be destroyed along with its money system. The reason the Jewish bankers cannot allow national governments to create their own money INTEREST FREE AND DEBT FREE is because this type of system eliminates the Jewish private commercial banker middlemen and their source of parasitic control over a nation’s money and banking system, namely a PRIVATELY CREATED MONEY SUPPLY AND THE INTEREST AND DEBT THAT IS CONNECTED WITH IT.

        You consider yourself a White Nationalist and you don’t even know these basic facts about National Socialist Germany and its innovative monetary system? That’s pretty sad, but not unusual. I have noticed that few WN’s have any idea about the importance of monetary systems and what NS Germany was doing in this area. Here, read this:

        THINKING OUTSIDE THE BOX:
        HOW A BANKRUPT GERMANY SOLVED ITS INFRASTRUCTURE PROBLEMS

        http://www.webofdebt.com/articles/bankrupt-germany.php

      14. old dutch sucks the big one Says:

        “Communism failed because it was designed to fail, Olde Douche.”

        Is this why jews make everything they touch shit? They can’t even produce watchable TV shows, movies or “comedians.” they cannot even make watchable porn (I do not jerk off to this, I just notice how badly done jew porn is, it is not even worth looking like it, like a car wreck THEY KIKES CANNOT EVEN MAKE EROTICA)

        Do jews do it because they are sadists, and producing quality entertainment would give the people joy they believe they should be deprived of? Is this why so much jewish comedy is “anti funny.” (not that I reiley on TV for my amusement – it’s just that jewish comedians and the trend they set are SOOOO unfunny)

        They have set an extremely low, intellectually void tone in this nation. Where weak egos and instant gratifiction replace actual acievements, including intellectual ones. Is it because they are liberal shitheads themselves, all a bunch of immature hippy like cunts, or is it deliberate. Is it just backbite from their own poison visited upon their children? Why they produce such little talent?

        Do the Rothschilds and Learned Elders put them in positions of power, because they know they will make everything they touch turn to shit? Is it all part of some diabolical plan? There are passages in the Protocols about deliberately making things worse and more incompetently run. Jews are shitheads.

        Jews are such persistent poop pushers, because it is all they are capable of producing is shit. That is another reason they hate the Aryans so. They also don’t care about quality or not. They have absolutely no values. Jews cannot compete with whites so they destroy all around them. That is why they are the originators of liberalism.

        More about the deliberate Homer-Simsonization of society

        http://dhost.info/rahowa14/holy_books/2Natures_Eternal_Religion/ner1-20.html

      15. Z.O.G. Says:

        THINKING OUTSIDE THE BOX:
        HOW A BANKRUPT GERMANY SOLVED ITS
        INFRASTRUCTURE PROBLEMS

        Ellen Brown, August 9th, 2007
        http://www.webofdebt.com/articles/bankrupt-germany.php

        “We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every mark that was issued we required the equivalent of a mark’s worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank.”

        – Adolf Hitler, quoted in “Hitler’s Monetary System,” http://www.rense.com, citing C. C. Veith, Citadels of Chaos (Meador, 1949)

        Guernsey wasn’t the only government to solve its infrastructure problems by issuing its own money. (See E. Brown, “Waking Up on a Minnesota Bridge,” http://www.webofdebt.com/articles/infrastructure-crisis.php, August 4, 2007.) A more notorious model is found in post-World War I Germany. When Hitler came to power, the country was completely, hopelessly broke. The Treaty of Versailles had imposed crushing reparations payments on the German people, who were expected to reimburse the costs of the war for all participants — costs totaling three times the value of all the property in the country. Speculation in the German mark had caused it to plummet, precipitating one of the worst runaway inflations in modern times. At its peak, a wheelbarrow full of 100 billion-mark banknotes could not buy a loaf of bread. The national treasury was empty, and huge numbers of homes and farms had been lost to the banks and speculators. People were living in hovels and starving. Nothing quite like it had ever happened before – the total destruction of the national currency, wiping out people’s savings, their businesses, and the economy generally. Making matters worse, at the end of the decade global depression hit. Germany had no choice but to succumb to debt slavery to international lenders.

        Or so it seemed. Hitler and the National Socialists, who came to power in 1933, thwarted the international banking cartel by issuing their own money. In this they took their cue from Abraham Lincoln, who funded the American Civil War with government-issued paper money called “Greenbacks.” Hitler began his national credit program by devising a plan of public works. Projects earmarked for funding included flood control, repair of public buildings and private residences, and construction of new buildings, roads, bridges, canals, and port facilities. The projected cost of the various programs was fixed at one billion units of the national currency. One billion non-inflationary bills of exchange, called Labor Treasury Certificates, were then issued against this cost. Millions of people were put to work on these projects, and the workers were paid with the Treasury Certificates. This government-issued money wasn’t backed by gold, but it was backed by something of real value. It was essentially a receipt for labor and materials delivered to the government. Hitler said, “for every mark that was issued we required the equivalent of a mark’s worth of work done or goods produced.” The workers then spent the Certificates on other goods and services, creating more jobs for more people.

        Within two years, the unemployment problem had been solved and the country was back on its feet. It had a solid, stable currency, no debt, and no inflation, at a time when millions of people in the United States and other Western countries were still out of work and living on welfare. Germany even managed to restore foreign trade, although it was denied foreign credit and was faced with an economic boycott abroad. It did this by using a barter system: equipment and commodities were exchanged directly with other countries, circumventing the international banks. This system of direct exchange occurred without debt and without trade deficits. Germany’s economic experiment, like Lincoln’s, was short-lived; but it left some lasting monuments to its success, including the famous Autobahn, the world’s first extensive superhighway.1

        Hjalmar Schacht, who was then head of the German central bank, is quoted in a bit of wit that sums up the German version of the “Greenback” miracle. An American banker had commented, “Dr. Schacht, you should come to America. We’ve lots of money and that’s real banking.” Schacht replied, “You should come to Berlin. We don’t have money. That’s real banking.”2

        Although Hitler has rightfully gone down in infamy in the history books, he was quite popular with the German people, at least for a time. Stephen Zarlenga suggests in The Lost Science of Money that this was because he temporarily rescued Germany from English economic theory — the theory that money must be borrowed against the gold reserves of a private banking cartel rather than issued outright by the government.3 According to Canadian researcher Dr. Henry Makow, this may have been a chief reason Hitler had to be stopped: he had sidestepped the international bankers and created his own money. Makow quotes from the 1938 interrogation of C. G. Rakovsky, one of the founders of Soviet Bolsevism and a Trotsky intimate, who was tried in show trials in the USSR under Stalin. According to Rakovsky, Hitler had actually been funded by the international bankers, through their agent Hjalmar Schacht, in order to control Stalin, who had usurped power from their agent Trotsky. But Hitler had become an even bigger threat than Stalin when he had taken the bold step of printing his own money. Rakovsky said:

        [Hitler] took over for himself the privilege of manufacturing money and not only physical moneys, but also financial ones; he took over the untouched machinery of falsification and put it to work for the benefit of the state . . . . Are you capable of imagining what would have come . . . if it had infected a number of other states . . . . If you can, then imagine its counterrevolutionary functions.4

        Economist Henry C K Liu writes of Germany’s remarkable transformation:

        The Nazis came to power in Germany in 1933, at a time when its economy was in total collapse, with ruinous war-reparation obligations and zero prospects for foreign investment or credit. Yet through an independent monetary policy of sovereign credit and a full-employment public-works program, the Third Reich was able to turn a bankrupt Germany, stripped of overseas colonies it could exploit, into the strongest economy in Europe within four years, even before armament spending began.5

        In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:

        Germany issued debt-free and interest-free money from 1935 and on, accounting for its startling rise from the depression to a world power in 5 years. Germany financed its entire government and war operation from 1935 to 1945 without gold and without debt, and it took the whole Capitalist and Communist world to destroy the German power over Europe and bring Europe back under the heel of the Bankers. Such history of money does not even appear in the textbooks of public (government) schools today.

      16. Z.O.G. Says:

        Another Look at the Weimar Hyperinflation

        What does appear in modern textbooks is the disastrous runaway inflation suffered in 1923 by the Weimar Republic (the common name for the republic that governed Germany from 1919 to 1933). The radical devaluation of the German mark is cited as the textbook example of what can go wrong when governments are given the unfettered power to print money. That is what it is cited for; but in the complex world of economics, things are not always as they seem. The Weimar financial crisis began with the impossible reparations payments imposed at the Treaty of Versailles. Schacht, who was currency commissioner for the Republic, complained:

        The Treaty of Versailles is a model of ingenious measures for the economic destruction of Germany. . . . [T]he Reich could not find any way of holding its head above the water other than by the inflationary expedient of printing bank notes.

        That is what he said at first. But Zarlenga writes that Schacht proceeded in his 1967 book The Magic of Money “to let the cat out of the bag, writing in German, with some truly remarkable admissions that shatter the ‘accepted wisdom’ the financial community has promulgated on the German hyperinflation.”6 Schacht revealed that it was the privately-owned Reichsbank, not the German government, that was pumping new currency into the economy. Like the U.S. Federal Reserve, the Reichsbank was overseen by appointed government officials but was operated for private gain. What drove the wartime inflation into hyperinflation was speculation by foreign investors, who would sell the mark short, betting on its decreasing value. In the manipulative device known as the short sale, speculators borrow something they don’t own, sell it, then “cover” by buying it back at the lower price. Speculation in the German mark was made possible because the Reichsbank made massive amounts of currency available for borrowing, marks that were created with accounting entries on the bank’s books and lent at a profitable interest. When the Reichsbank could not keep up with the voracious demand for marks, other private banks were allowed to create them out of nothing and lend them at interest as well.7

        According to Schacht, then, not only did the government not cause the Weimar hyperinflation, but it was the government that got it under control. The Reichsbank was put under strict government regulation, and prompt corrective measures were taken to eliminate foreign speculation, by eliminating easy access to loans of bank-created money. Hitler then got the country back on its feet with his Treasury Certificates issued Greenback-style by the government.

        Schacht actually disapproved of this government fiat money, and wound up getting fired as head of the Reichsbank when he refused to issue it (something that may have saved him at the Nuremberg trials). But he acknowledged in his later memoirs that allowing the government to issue the money it needed had not produced the price inflation predicted by classical economic theory. He surmised that this was because factories were sitting idle and people were unemployed. In this he agreed with John Maynard Keynes: when the resources were available to increase productivity, adding new money to the economy did not increase prices; it increased goods and services. Supply and demand increased together, leaving prices unaffected.

      17. Z.O.G. Says:

        THINKING OUTSIDE THE BOX:
        HOW A BANKRUPT GERMANY SOLVED ITS INFRASTRUCTURE PROBLEMS

        Ellen Brown, August 9th, 2007
        http://www.webofdebt.com/articles/bankrupt-germany.php

        “We were not foolish enough to try to make a currency [backed by] gold of which we had none, but for every mark that was issued we required the equivalent of a mark’s worth of work done or goods produced. . . .we laugh at the time our national financiers held the view that the value of a currency is regulated by the gold and securities lying in the vaults of a state bank.”

        – Adolf Hitler, quoted in “Hitler’s Monetary System,” http://www.rense.com, citing C. C. Veith, Citadels of Chaos (Meador, 1949)

        Guernsey wasn’t the only government to solve its infrastructure problems by issuing its own money. (See E. Brown, “Waking Up on a Minnesota Bridge,” http://www.webofdebt.com/articles/infrastructure-crisis.php, August 4, 2007.) A more notorious model is found in post-World War I Germany. When Hitler came to power, the country was completely, hopelessly broke. The Treaty of Versailles had imposed crushing reparations payments on the German people, who were expected to reimburse the costs of the war for all participants — costs totaling three times the value of all the property in the country. Speculation in the German mark had caused it to plummet, precipitating one of the worst runaway inflations in modern times. At its peak, a wheelbarrow full of 100 billion-mark banknotes could not buy a loaf of bread. The national treasury was empty, and huge numbers of homes and farms had been lost to the banks and speculators. People were living in hovels and starving. Nothing quite like it had ever happened before – the total destruction of the national currency, wiping out people’s savings, their businesses, and the economy generally. Making matters worse, at the end of the decade global depression hit. Germany had no choice but to succumb to debt slavery to international lenders.

        Or so it seemed. Hitler and the National Socialists, who came to power in 1933, thwarted the international banking cartel by issuing their own money. In this they took their cue from Abraham Lincoln, who funded the American Civil War with government-issued paper money called “Greenbacks.” Hitler began his national credit program by devising a plan of public works. Projects earmarked for funding included flood control, repair of public buildings and private residences, and construction of new buildings, roads, bridges, canals, and port facilities. The projected cost of the various programs was fixed at one billion units of the national currency. One billion non-inflationary bills of exchange, called Labor Treasury Certificates, were then issued against this cost. Millions of people were put to work on these projects, and the workers were paid with the Treasury Certificates. This government-issued money wasn’t backed by gold, but it was backed by something of real value. It was essentially a receipt for labor and materials delivered to the government. Hitler said, “for every mark that was issued we required the equivalent of a mark’s worth of work done or goods produced.” The workers then spent the Certificates on other goods and services, creating more jobs for more people.

        Within two years, the unemployment problem had been solved and the country was back on its feet. It had a solid, stable currency, no debt, and no inflation, at a time when millions of people in the United States and other Western countries were still out of work and living on welfare. Germany even managed to restore foreign trade, although it was denied foreign credit and was faced with an economic boycott abroad. It did this by using a barter system: equipment and commodities were exchanged directly with other countries, circumventing the international banks. This system of direct exchange occurred without debt and without trade deficits. Germany’s economic experiment, like Lincoln’s, was short-lived; but it left some lasting monuments to its success, including the famous Autobahn, the world’s first extensive superhighway.1

        Hjalmar Schacht, who was then head of the German central bank, is quoted in a bit of wit that sums up the German version of the “Greenback” miracle. An American banker had commented, “Dr. Schacht, you should come to America. We’ve lots of money and that’s real banking.” Schacht replied, “You should come to Berlin. We don’t have money. That’s real banking.”2

        Although Hitler has rightfully gone down in infamy in the history books, he was quite popular with the German people, at least for a time. Stephen Zarlenga suggests in The Lost Science of Money that this was because he temporarily rescued Germany from English economic theory — the theory that money must be borrowed against the gold reserves of a private banking cartel rather than issued outright by the government.3 According to Canadian researcher Dr. Henry Makow, this may have been a chief reason Hitler had to be stopped: he had sidestepped the international bankers and created his own money. Makow quotes from the 1938 interrogation of C. G. Rakovsky, one of the founders of Soviet Bolsevism and a Trotsky intimate, who was tried in show trials in the USSR under Stalin. According to Rakovsky, Hitler had actually been funded by the international bankers, through their agent Hjalmar Schacht, in order to control Stalin, who had usurped power from their agent Trotsky. But Hitler had become an even bigger threat than Stalin when he had taken the bold step of printing his own money. Rakovsky said:

        [Hitler] took over for himself the privilege of manufacturing money and not only physical moneys, but also financial ones; he took over the untouched machinery of falsification and put it to work for the benefit of the state . . . . Are you capable of imagining what would have come . . . if it had infected a number of other states . . . . If you can, then imagine its counterrevolutionary functions.4

        Economist Henry C K Liu writes of Germany’s remarkable transformation:

        The Nazis came to power in Germany in 1933, at a time when its economy was in total collapse, with ruinous war-reparation obligations and zero prospects for foreign investment or credit. Yet through an independent monetary policy of sovereign credit and a full-employment public-works program, the Third Reich was able to turn a bankrupt Germany, stripped of overseas colonies it could exploit, into the strongest economy in Europe within four years, even before armament spending began.5

        In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:

        Germany issued debt-free and interest-free money from 1935 and on, accounting for its startling rise from the depression to a world power in 5 years. Germany financed its entire government and war operation from 1935 to 1945 without gold and without debt, and it took the whole Capitalist and Communist world to destroy the German power over Europe and bring Europe back under the heel of the Bankers. Such history of money does not even appear in the textbooks of public (government) schools today.

      18. Z.O.G. Says:

        Oops, sorry for the double post. :-)

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