Against the Theft of a Nation: Five Steps to Solvency

For the United States. What Was Needed Earlier Is Even More Needed Now!

The follow-up to ‘Getting Rid of the Fed’, published on October 31, 2008 and printed in the The World Is Turning … You can check out the piece between Pages 323 and 327 in the PDF of the book that’s offered on the Ur1Light.com website.

Please remember always: You ARE that Light!

AGAINST THE THEFT OF A NATION: FIVE STEPS TO FREEDOM AND SOLVENCY

(October 31, 2008)

BACKGROUND

The first two weeks of October 2008 have seen the most bare-faced and brazen, yet sly and and secretive, theft of a nation proceed, robbing the public of the United States of both rights and posterity.

Never before has so much money and means been taken from a supposedly sovereign citizenry in so little time as here in the U.S. since October 3, 2008.

On October 15 mainstream commentators tallied the amounts taken so far, a total that adds more than $1.1 trillion to the national debt for the current fiscal year.

•$700 billion for the original "Bail-out Bill" unveiled by Treasury Secretary Henry Paulson and Federal Reserve System Chairman Ben Bernanke after the failures of bettor/debtor speculators Fannie Mae/Freddie Mac, Lehman Brothers, and the American International Group (AIG) in September;

•$130 billion added on by the U. S. Senate and House of Representatives to the Bill that became law on October 3;

•$200 billion separately devoted to sustaining Fannie Mae and Freddie Mac;

•Over $100 billion already allocated to sustaining AIG.

Beyond this $1.130-trillion total are unknowable and 'unlimited' expenditures that the powers given to the Treasury and to the Fed by the vote on October 3 have opened up:

•Lending and credit without check, cap or oversight to the United States' most major, surviving commercial Banks (which now include the former investment-banks Goldman Sachs and Morgan Stanley;

•Lending and credit without check, cap or oversight to "foreign" commercial and central Banks.

That last new means and power given to the Treasury and Fed deserves an exclamatory pause, then scrutiny, then it deserves any resort to rejection that we can raise against it.

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Now, you see, the Treasury Department (headed by "Hank" Paulson, former $37-million-a-year CEO of Goldman Sachs) and the Federal Reserve System (that private consortium of Banks that allies and/or relatives of the Rothschild and Rockefeller families manipulated into control of the U.S. money-supply just before World War I, its majority ownership and subsequent hundreds of billions in profits held by European financial interests, most of them based in the City of London) can give unlimited amounts of fiat money and credit to Germany's Deustche Bank, to Holland's Fortis Bank, to the Bank of England, to the Bank of France, to the Hong Kong and Shanghai Banking Corporation

How is this happening?

Well, now, you see, the Fed, whose "war-chest" of $800 billion for ailing Banks and other Corporations is essentially tapped out by 2008's failures, can receive BONDS from the U.S. Treasury, (BONDS whose fiat value is created simply by computer key-stroke, please remember, though U.S. tax-papers remain ultimately liable for every penny of their nominal value) and then count them as funds which it can then distribute to any needy Bank or Corporation, regardless of said supplicant's nominal nationality, so long as the supplicant is doing business somewhere in the 50 United States.

And the Federal Reserve System and Treasury Department can exercise this new and marvelous form of charity without check, cap or oversight, thanks to 74 Senators and 263 Representatives, despite the vehement opposition by a vast majority of these politicians' constituents to such obvious devaluation of the U.S. Dollar, impoverishment of our children's futures, and certain bankruptcy of the nation.

Across every map of the United States should now be stamped: Owner, as of October 3, 2008, the City of London.

We can, however, regain control of this nation. We can reject the destructive nonsense that's now imposed on us. We can throw off the vampire/zombie Banks now stuck on our backs and necks. We can simply repudiate the hundreds of trillions of dollars of debt these gamblers have assumed through "derivatives." We can go back to a real economy that produces goods for people's needs and prosper as never before through a true globalism that employs 21-century technology and perceptions.

We can take five direct steps toward rationality and justice, solvency and freedom, personal independence and collective responsibility.

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FIVE STEPS

1. Replace the Federal Reserve System with a PUBLICLY OWNED National Bank that Issues Interest-Free Funds for Operation of the United States.

The privately owned Fed is now as it has been since its covert creation in 1913: a drain on the nation's resources, a guarantor that no Commercial Bank shall fail despite whatever excesses in speculation that the Bank commits, and a means of yoking people and businesses to unnecessary debt (sometimes called " 'credit' ") that intrinsically produces inflation and consequent, de facto devaluation of the U.S. dollar.

The Fed is the central vampire that allows insolvent or "zombie" Banks to survive, drawing from workers' collective and personal wealth so that obviously bankrupt bettor/debtor Banks and other Corporations live on.

In 2005 $352 billion of the $927 Individual Income Tax paid by workers in the U. S. went to to the Fed's consortium of private Banks as interest.

Also, the FRS and the IRS both violate the U.S. Constitution.

Article 1, Section 8 of the U. S. Constitution states that Congress alone shall have the power 'to coin money'. In 1910, three years prior to legalization of the FRS, the U.S. debt was $1 billion, or $12.40 per citizen, according to Pastor Sheldon Emry's Billions for the Bankers, Debts for the People. By 1920 the amounts were $24 billion and $228 respectively. By October 2008 the amounts are over $10 TRILLION and over $33,000 respectively (not counting, of course, individual consumers' and home-buyers' debts).

2. Replace all international Commercial Banks with local, cooperative institutions that supply funds to the public without usurious interest and without 'fractional reserve-lending' that allows Commercial Banks to lend at least 7 1/2 times the amount of their Assets.

According to the Insurance Information Institute, at the end of 2004 the 'book-value' (assets minus liabilities) of ALL U.S. Commercial Banks was $850 billion.

In her book The Web of Debt Ellen Hodgson Brown generously gives a double value to these Banks in advancing her solution to them: that 'around $1.7 trillion might be enough to purchase the whole U.S. commercial banking industry.'

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Now, YOU, or anyone with your common sense, might ask: HOW have the sum-total of the United States’ Commercials Banks, with their combined ‘book-value’ of $850 BILLION, by 2008 gotten into a $180-TRILLION (yes, $180 TRILLION) total amount of DEBT … MERELY from their Speculating in their Member-Only Casino ‘Derivatives’? Yes, that’s right: $180 TRILLION in DEBT solely from their Shared Speculating in ‘Derivatives’.

The largest of the Privileged Dealers—sharing, too, Special Drawing Rights from the Fed’s operational Lender, the Federal Reserve Bank of New York—these Privileged Few being J.P. Morgan Chase, Citigroup, and Bank of America—now possess Assets worth 40, or 50, or MORE Multiples TIMES LESS than the DEBT that they own through speculating in ‘Derivatives’? Humongous Things! $180 TRILLION Tall.

What are these ‘Derivatives’? One Professor calls them “side-bets”,

We look to an Establishment source. On CBS --60 Minutes-- of October 5, 2008, interviewer Steve Kroft asks University of California San Diego professor Frank Partnoy how this year’s stupendous "crisis" and "collapse" came to be.

Professor Partnoy answers: "It's the side-bets, it's the side-bets."

By "side-bets" Professor Frank Partnoy means the unregulated "Credit Default Swaps" through which AIG, Bank of America, Citigroup, JP Morgan Chase et cetera have assumed nominal responsibility for highly risky "sub-prime mortgages" … that these Banks and other Speculating Institutions—AIG is known as an Insurance Company—THEMSELVES previously packaged as ‘Securities’ … before they among THEMSELVES chose to treat these ‘Securities’ as "Swaps" … that they then further exchanged at Hugely Leveraged Profitability—as much as $40 of nominal Profit against $1 of nominal Investment … Such a Game, such a Scam, of course must arrive at Reckoning. mong themselves and their global brethren.

The Surpranational Gamblers seek to escape their Reckoning. They’re “too big to fail.” They expect our Government to again bail them out.

Instead, we should take them over.

We can liquidate them and their liabilites as judiciously as possible. We can replace them with local institutions operated and overseen by their/our communities.

We pay $850 billion in ‘book value’—or even Ellen Brown’s generous $1.7 trillion—and we lose our yoke to $180-TRILLION-AND-MORE in DEBTS. We chase Counterfeiters from our Stores. We pull the plug on Dealers peddling Credit that addicts and cripples Generations. We end the Crooked Game

3. After replacing the Federal Reserve System, we the public should assume control of all Institutions that currently OWE MORE to the FEDERAL RESERVE SYSTEM than they hold in ASSETS.

As you can see in the chart below, Henry Paulson's former firm, Goldman Sachs, began the 21st century with Assets of nearly $600 billion against borrowings, or 'Bank Credit', of about $240 billion from

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the Federal Reserve System. By end of 2007, however, Goldman Sachs had assets of about $815 billion against Bank Credit of over slightly more than $850 billion. That is, the firm accumulated a net deficit of about $400 billion in the eight years 2000 to 2007.

As you can see, borrowing was especially heavy during Paulson's term as CEO 2004-2006--when Goldman, Sach borrowed about $230 billion from the Fed and yet grew its assets little more than $20 billion, a net drain on the nominally Federal agency of more than $200 billion.

The average annual bonus of a Goldman, Sachs partner in the 21st century is $5 million. Henry Paulson received $37 million in compensation 2005 as Goldman, Sachs' CEO..

4. The hundreds of billions that we the public save through replacing the Fed, substituting local cooperatives and credit-unions for bettor/ debtor Commercial Banks, and assuming control of firms that already owe more to our Government's nominal lending agency (the Fed) than they are contributing to our economy, can be spent on society's urgent needs.

Rebuilding infrastructure with 21st-century technology is one urgent need. […} Health-care and education equal to other nations' and equal for all are also urgent and possible. […]

Before and above anything else, however, our savings from being rid of the Fed and its leading bettor/debtor, zombie/vampire Banks should go to assure that those made homeless or threatened with foreclosure by criminally structured loans have the opportunities to regain or keep their homes.

5. At the same time, we should live apart from Big Government as much as possible.

The great lie of "de-regulation" and a "free market" is now exposed within the U.S., just as it's been exposed for decades in countries that the Western world has exploited throughout the "Third World."

Banks in particular of supranational Corporations favor "deregulation" and a "free market" only when they hold ABSOLUTE CONTROL over access to funds. HENCE they control livelihoods and indeed life.

We can can get along real well without such supranational Banks and their like.

We can substitute local cooperatives and credit-unions for supranational loan-sharks

[ … ]

We can control our Nations' economies so that we can control our destinies.