Sunday, 15 January 2012

The World in a weird place or ( The Truman Show)

The world is in a very weird place. 

After having read some research ( about how we have all been hoodwinked by the US Fed to the tune of $26trn ( yes  -  that is trillion not billion ) I am beginning to wonder whether we aren’t all on the set of some giant Truman Show (without the great weather and white picket fences !) 

So according to this research,  which I would have dismissed as some kind of latter day Zeitgeist conspiracy theory if I had not clicked through some of the links and seen an article written by a US Senator ( not that that should somehow give it legitimacy given the intimate role of members of the US Govt in this tragedy),  economic power globally rests in the hands of a very tightly knit group of corporations and institutions – mainly banks.   Hence the bailouts.    Believe me TARP was a tip of the ice-berg.  That was like Sunday School collection money.  

So in brief the Federal Reserve ( a private company independent of the US Govt ) prints money and lends it to the US Treasury for use as currency and charges interest.  It also prints the money and then lends it to foreign banks.   
Now I bet you didn’t know that. 

In fact since 2008 to the tune of $16 trillion.   To the likes of Barclays, Deutsche, RBS, UBS plus of course the usual suspects like Goldmans,  Citi,  BOA, Morgan Stanley  and  Merril Lynch who each received over $1trn.  In fact it is all well documented in an audit ( of the Fed conducted by the GAO ( General Accountability Office) which is the first time the Fed has ever been audited.   
Bet you didn’t know that either !

“  The GAO audit also revealed that many of the people who serve as directors of the 12 Federal Reserve Banks come from the exact same financial institutions that the Fed is in charge of regulating.

Further, the GAO found that at least 18 current and former Fed board members were affiliated with banks and companies that received emergency loans from the Federal Reserve during the financial crisis.

In other words, the people "regulating" the banks were the exact same people who were being "regulated." Talk about the fox guarding the henhouse!...

For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed….

Getting this type of disclosure was not easy. Wall Street and the Federal Reserve fought it every step of the way. “ 

And you wonder why the Occupy movement is so popular? 

So who is right ?    The 99% who want the 1% to pay a fair tax rate.   Or the 1% who want to maintain their Uber wealth by keeping their tax rates low.   The problem is -  it is the 1% who control the economic power and hence the media and hence the politicians.    Make your own deductions how this election is going to go.   That is of course unless the common man stands up and makes his voice heard and his vote count.  It happened in North Africa and the Middle East.   Maybe it will start happening in the most unlikely places.  

The White House has woken up to SOPA.  Is it because Schmidt can muster more resources than Murdoch?  Or has sense finally hit home.   

So as I was saying the world is in a very weird place.  

They are even talking about war with Iran.    Who are the new Cheneys,  Rumsfelds and Wolfowitz’s.  
Better pray that they had no heirs. 

Was that Jim Carrey I just saw… 

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