Nationalize the Federal Reserve? The Bailout Bill? Or do an Article V? Opinion.

WaMu bankruptcy caused by Federal Reserve? Or is JPMorgan not a part of the Federal Reserve? (From here, it looks like WaMu fell to a Federal Reserve "setup.") Maybe that is "just" an appearance?

By Les Porter

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Who Caused the Commercial Credit Crunch? For WaMu according to a story on several TV networks, they were suddenly stopped from borrowing money from the Fed Discount Window, and seized by the FDIC.

http://www.associatedcontent.com/article/1065481/washington_mutual_seized_by_federal.html
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Was it Wall Street? Or was it those leveragers of insurance for credit defaults, the Credit Default Swaps?

Okay. JPMorgan Chase (is/was/might be?) a member bank of the (hidden) private group that owns the Federal Reserve. (There are probably people that Andrea Mitchell and husband Alan Greenspan know, and can name, involved.) The FDIC, with Sheila Bair, a Bush appointee in charge, seizes and immediately sells the "assets" of WaMu to JPMorgan et al., and covers the rest -- but what kid of a deal is this?

The Fed closes the discount window to WaMu and the FDIC seizes assets of WaMu but sells (gives?) them to JPMorgan? At what discount? And the FDIC covers everything else including what is bad? WaMu savings and loan association had $310 billion in assets and $188 billion in deposits. JPMorgan Chase, acquires the WaMu assets for $1.9 billion, and reports it plans to write off $31 billion in bad loans.

Looks like a manipulation by the Federal Reserve to cause the failure, with old time membership money..

JPMorgan Chase is pretty old money, comparatively -- you know, robber barrons and all..

The "Real" Bailout?

If it were to be done, it has to be "bubble up;" it cannot be "trickle down."

We all know "growth" must be grassroots; from the bottom up. Things that "grow" expand from something "small" to something "large." Cancer is that way, too.

If you were to depend on the "charity" or the "fiscal interests" of the trickle-downers, you would find it doesn't work that way. It is the longest deception in human "civilization." The concept of "ownership" leveraging.

How you can make people work for you without being an admired capable and real leader? Be a skimmer! Like the manipulations by Warren Buffet. GE and Goldman Sachs will produce Buffett some $20 Billion soon -- and I have no idea how much of this comes from the "bailout."

Jobs and Credit.

Would someone "hire or employ" you to do a job? If you now have a job, how long will your current job last?

Even with a "good" job, are you living hand-to-mouth? If you need a loan, "who you gonna call"?

Just who is going to loan money to you? Yes, your credit card "bank?"

Who is "freezing" the credit? Who is freezing your credit?

Do you need credit? Maybe you can do some things "without" credit.

The Federal Reserve is a privately owned and operated bank. To keep the citizens of the US from realizing this was a private corporation, Paul Warburg, suggested the name "Federal Reserve," and to support the illusion that this was not a single "Central Bank" located in New York, the Regional Federal Reserve Banks (facilities) were erected. The Fed and the Regional Federal Reserves are the "front" for a profit making cartel of private banks, whom, from their planned formation on Jekyll Island, have made possible wars and expansions of American power for nearly 100 years.

Most of the "international money" that was joined to the Robber Baron's money is money bloodied by hundreds of years of feudal fighting and juggling of bloodline fortunes through wars and conquests.

The history of "Banking" goes back to the development of cities -- which are not possible until "agriculture" is invented and developed to feed a bunch of people living together in some degree of concentration.

Banking is done by people who are intent on skimming the work and production of others -- and in the beginning of banking the skimming was of food and agriculture production that supplies a "city" or "town." At some point, solid things, like gold, became the markers for the good's a city-state or village produced. Artisans were freed from being tribal hunter-gatherers, and some were to do farming or other works, like artsy things, and others made stay-at-home wares like cookware or tools. (Yeah, man is a toolmaker. We even make tools to eat with.) When tribal "villages" became cities or city states a great many avocations evolved.) All could be skimmed!

Of course, money developed as means of keeping score, of keeping a balance. It is a long way from Hammurabi and Babylonian banking to the Knights Templar and the current international banking system, but some of the "fortunes" population growth and skimming make possible are reflected across time, something that is a financial link between now and then. Old "money".

Originally, the Rothschilds via Nelson Biddle, attempted to create a private central bank that would dominate the young United States, this bank sought a renewed charter to operate the second version of the "Bank of the United States" which was abolished by President Andrew Jackson, when the Senate sent for him to signature the Bank's charter, due to expire in 1836, asking for another 15 years of existence, five years ahead of time. (You know, early version of "futures.")

Is the Fed going to loan you money? Think about the Federal Reserve. From where does "their" money come? What has value? The illusion of money? Insurance? Americans strongly resisted the formation of a central private bank. . . as below links.

http://www.neh.gov/news/humanities/2008-01/KingAndrewandtheBank.html

Referring to the attempt of Nelson Biddle in 1829, from a visit with Jackson, wherein a re-charting of the bank would have made vast and instant money and credibility for it's private shareholders, Jackson shut it down.

"The bold effort the present bank has made to control the government, the distress it had wantonly produced...are but premonitions of the fate that awaits the American people should they be deluded into a perpetuation of this institution or the establishment of another like it." -- Andrew Jackson, President, 1832.

Earlier, Thomas Jefferson, also a "Democrat," (probably among the first of the Democrats) had warned, "A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army... We must not let our rulers load us with perpetual debt."

Hamilton, and the Federalists may not have realized the danger of a central bank the government forced its citizens to use -- and from which a skim was made. Hamilton may have liked the idea, however -- of a permanent "income" generating scheme for the lucky, giving therm privilege.

Jefferson warned of the things that we face continually (now) since the Federal Reserve was created and the present time is a time when we are facing the raw front policies of the Federal Reserve. That is, "they" set the interest rates. The federal reserve collects interest on the money loaned -- and if there is any fault in the tightening of credit, or it's freezing -- look to those who have set the interest policy at the lowest monetary level. The Fed. Don't worry. They won't let you take it with you when you pass.

George Bush, et al., has certainly helped load us with a national debt of nearly astronomical proportions. The overload of National Debt has occurred via the latest administrations spending efforts and war along with the abandonment of usury laws. Ron Paul would rather regulate the Federal Reserve, and let the Markets take care of themselves. Paul is likely correct -- but they have sooooo much money they buy and sell nations, and congressmen, senators, and presidents

Make no mistake, this current "credit collapse" hinges on what the Fed has done, encouraged, or skimmed. The US Gold Reserves were turned over to the Fed, and then used to base money sent to other other nations. (war debt to be paid with interest to the "investors" -- in this sense foreign bank's money.)

In the last few days the Federal Reserve has injected $630 billion dollars into credit markets (this is not without interest) -- but with the Treasury Secretary asking for taxpayer funds amounting to $700 billion the whole thing is $1.4 trillion.

According to a story by Irene Shen, for Bloomberg, Frank Gong, JPMorgan Chase & Company's Chief "China Economist" in Hong Kong, says, If China doesn't move actively, the Global Recession would be deeper. Absolutely, Shen intimates, China's central bank welcomes the US rescue plan, and offers it's cooperation. http://www.bloomberg.com/apps/news?pid=20601080&sid=akO3ktmnUkyQ&refer=asia

Fun with Money: How "Much" is $700 Billion.

What "kind" of money is this $700 billion? We know it is a substantial quantity of money -- and the Bush Administration initially wanted you to just "give" it to them. Transparency?

Below, I reference an earlier Xombyte, wherein I compare the stacks of money in pennies and the stack of paper bills equivalent to $516 Trillion in derivatives. That $516 trillion was the Bank of International Settlements (BIS) value of derivatives in early 2007. The value is now $596 trillion in derivatives.

Our US currency is pretty slick stuff. And, despite the denomination, Thousand-Dollar-bills are the same thickness as One Dollar bills, so 100 bills of either denomination are the same thickness -- a bit over a centimeter. (Yes. A fistful of Fifties still feels like handful of Tens.)

Yeah, yeah. Years back, I went to a Bank to get a couple of $500 bills once -- when I had some money. I got them. I took them and bought something and was given change. Yes this was a long time ago. Probably before many of you were born or old enough to carry money like that. Several years later I went to a bank to shrink several fistfuls of Hundreds ($100-dollar bills). And was laughed at. They quit using anything larger than $100 in 1969 or so. I was told that the banks themselves still used them but only bank to bank. I imagine even that is now not the case. Bearer bonds, anyone?)

It takes 10 "paper" bills of United States currency of any denomination to make a stack 1 millimeter thick (that is, each bill is 0.0109 mm in thickness. So to make a stack of 100 bills means a stack of money 1 centimeter high. (1.09 cm actually.) But let's stack $700,000,000,000 dollars in $1 dollar bills to its full height. (I'll use the 0.0109mm thickness) $700 billion dollars makes a stack 7,630,000,000 millimeters tall. Or a tight stack of dollar bills 7,630 kms tall (4741 miles).

The denominations of a stack of U.S. currency could be any of the bills in circulation. Suppose we printed and stacked "Thousand-Dollar" bills? Then our stack of money (700,000,000 one-thousand-dollar bills) would only be 7.63 kilometers tall! (4.7 miles tall)

But if we chose Pennies? If we stamped 70,000,000,000,000 (70 trillion pennies, $700 billion dollars worth) a stack of 70 trillion pennies would be 67,418,774.357 miles tall) Now maybe that would be worth something!

http://www.xomba.com/the_fine_art_of_stacking_coins_and_paper_money_in_very_tall_stacks

Article V is a part of the structural law of the Constitution. Article V is on the same level of "power" and legitimacy as the other Articles of the Constitution which establish the branches of government (Article II, executive; Article III, Legislative (congress); Article IV: Judicial (the courts), Article V the mechanism which reinforces the power of the people, the true owners of this governmental experiment.

The people need to re-assert their power and use it. Right now it is limited to a rigged voting system, a single voice of the Corporate world, through their ownership of the officials (Judges, Congress and the Executive through financial manipulations.) Article V can totally end the corporate power concentration in Washington: that is Article V can end the power concentration in Washington. But more than that, Article V can end the stranglehold of Banks and Corporations who think they own and direct the course of the human structure on this planet.

If corporations had to buy off all the "state" legislators, and the "state" electorates in each of all 50 states -- maybe the corporations could become entities beneficial to mankind? You know, as a class. . .

Article V The Bloodless Revolution and Hamilton's lie.

A peremptory denied.

See www.article5.org and www.foavc.org

Alexander Hamilton, in writing Federalist # 85 with the reference to the "plan" being in fact, The Constitution of the United States, wrote:

+++++++++++++++++
------" By the fifth article of the plan, the Congress will be obliged "on the application of the legislatures of two thirds of the States [which at present amount to nine], to call a convention for proposing amendments, which shall be valid, to all intents and purposes, as part of the Constitution, when ratified by the legislatures of three fourths of the States, or by conventions in three fourths thereof." The words of this article are peremptory. The Congress "shall call a convention." Nothing in this particular is left to the discretion of that body. And of consequence, all the declamation about the disinclination to a change vanishes in air." -----

Note, in Hamilton's view, the Congress has no choice or discretion in the matter. This is what he used to convince the delegates that they could throw off the chains of a "federal" power structure, as they had the "George" of England.

And yet, 202 years after the death of Alexander Hamilton, in the duel with Aaron Burr his argument is as powerful and clear as it once was when he made it to convince the states to Ratify the Constitution. But more than that, the meaning of the words of the constitution have been muddled and muddied by both the Congress, which is denied discretion in the matter, and the US Court which denied Walker and the people standing -- and shredded the intent of the Constitution and Article V. What was peremptory is shrugged off. What could be a bloodless change steps ever closer to a new American Revolution -- one which flows blood of the betrayers, of the people elected, of the corporations lobbies, and eventually the skims of the financial systems rulers -- private feudal banks.

When Hamilton wrote Article V and helped to phrase the Constitution, There was no such thing as a Congress -- Congress was an idea. There was no such thing as a President, or a Supreme Court. These were ideas, all revocable and still able to be revoked and changed with Article V. The courts, the executive, and the congress -- the elected and appointed have betrayed the promise.

Hamilton never feared the federal government, because he had written the tool to correct its abuses.

Hamilton further argued eloquently and honorably that rather than the Central Power, those in the all-powerful Federal Government being reluctant or disinclined to give up power and allow the constitution to be amended, that the difficulty would not be in the Federal Government, but rather in the States. . .

Again, from Federalist # 85, Hamilton writes:

-----" Nor however difficult it may be supposed to unite two thirds or three fourths of the State legislatures, in amendments which may affect local interests, can there be any room to apprehend any such difficulty in a union on points which are merely relative to the general liberty or security of the people. We may safely rely on the disposition of the State legislatures to erect barriers against the encroachments of the national authority. "

Hamilton was wrong. He did not know of Banks and international corporations linkages and purchasing power -- or perhaps he might have written a stronger tool.

-----

+++++++++++++++++++++++++ Some of the above is excerpted from my Xombyte:
http://www.xomba.com/the_fifth_article_the_bloodless_revolution_the_undiscovered_country_article_v_0

(Through no fault of mine, Xomba had this indexed wrong and I had to repost it. Sorry.) But, think about Hamilton's promise rolled into the fifth article! And think about it used as the tool it was meant to be, used to fix what has gone wrong in our current situation and the corporate owned Federal apparatus.
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Via Article V, it is possible to end the Fed's manipulation of the US and World economy. And maybe we get a better congress! Maybe better courts and President.

The roots of our current and past financial problems have to do with our legislative and financial underpinnings, . First, we need to refer to the “structural law” of the constitution. You know them as the “Articles” and attendant to them, nearly as afterthoughts, the Amendments, initially such a thing as the “Bill of Rights”. Who wrote the constitution which turned this nation from a confederation to a federal state. Most of the delegates strongly participated and argued during the construction of the document. Hamilton, the New York Lawyer wrote and presented his version of the nation’s future – much of which was politely listened to and quietly rejected via vote of the delegates. The delegates were not ready to create another British form of government, similar to that they had just defeated in the revolutionary war.

Madison, Jay, and Hamilton all wrote under the pseudonym, Publius – the long dead Roman whose name is incorporated in the term “republic,” (the form of government Publius helped implement in Italy more than 2000 years ago) as they argued for a strong centralized federal government – a republic, where the people were represented by proxy, through elected community members.

Alexander Hamilton, the first "federalist" to put his lie in print, was opposed by Jefferson. It is unfortunate that Jefferson was not present for the writing and framing of the Constitution. Had Jefferson been present, Article V would have been structured differently and the lie it encompassed, which is maintained today by the Congress and the two-party system, would have already been implemented. Thomas Jefferson, the earliest Democrat to reach the Presidency, would today be appalled to see what has happened to the United States.

Article V is the bloodless revolution. All 50 states have requested an amendatory Constitutional Convention to fix the national woes. These woes have been a result of an executive, congressional, and judicial failure, most recently coupled with the machinations of the international central banking cartel fronted by the privately owned and operated Federal Reserve. You know what OPEC is; the Fed is the same kind of critter – except they control money and they skim from the process. OPEC manipulates the production and sale of oil, the Fed manipulates the manufacture of credit and money. One skims from the artificial production set price of the commodity, and the other skims the money from the presses which print the symbol of value.

Basically, Article V is the tool of the people (citizens) of the nation to recover the power taken from them by centralizing government in Washington -- where control and privilege is sold to the highest corporate bidder. The State Delegate Signers of the Constitution were lulled by Alexander Hamilton’s lie. They signed approval of the constitution, thinking Article V would save the people from a King George kind of bureaucratic rule if needed. The hope was that Article V would be invoked by the people, by 2/3 of the states, and the constitution could be rewritten, amended, or completely scrapped or altered.

Newt Gingrich pointed out that the Republicans, when given the Congress in 1994, (sworn in 1995) actually considered obeying the constitution’s structural law, and holding an Article V amendatory constitutional convention. One can imagine that under a new writing and approval of the constitution, there would be no place for the Cartel of Banks – the Fed.

Maybe we need to protect ourselves from the multinational corporations and the Fed and the bloodline banks, (you know, the "old" money, like the Royal component of the Bank of England), and the Bank of International Settlements – those guys who think they rule the world. They believe “money” can buy all principles and ideals, subsume character and essentially you can mortgage your very soul. ANd they will hold the paper for you. If you believe them, and their rules, then you (we) are pretty-well doomed.

The influence of the Fed can be ended. Really. Painful as some might find it, it can be ended. The link from the Fed to the U.S. Treasury and the branch of printing and engraving (they who press run money) can be severed. The “interest” we pay the Fed (the Cartel) is at the root of the manipulations of the world wide economy. . .and John Hussman’s analysis of the Bear-Stearns rescue shows new-broken ground, which the Fed is party to, a signal of what is happening in the “Bailout.” A cartel of "money changers" simply protects its skim from world markets; it exists for protecting bank profits.

http://www.hussmanfunds.com/wmc/wmc080324.htm

See also:

http://www.marketoracle.co.uk/Article4175.html

Some people think this is a means of bailing out the "Federal Reserve" (private Bank) – at least the US portion of the international cartel, but I see it as a scam to make the Fed more money and manipulate the treasury, the congress, the president -- and provide some cover for Paulson, et al.

That is part of the reason I would like it decoupled, totally, from monetary policy and directly from the treasury -- and shut down.

But the other option, the one I might rather see engaged, is Nationalization.

Honest nationalization of the U S Federal Reserve would change the direction of the planetary economic systems. The government would move the private companies out, allowing them a small shareholder portion of ownership. (Ron Paul and Ralph Nader, likely would be of great help on this.) Instead of the Federal Reserve attempting to garner profits for the "shareholders" or the CEO's everyone in the nation would be a shareholder, and everyone would be paid dividends directly from the treasury, the bank. The investments would be as singleminded as the profits. And with everyone as a shareholder. . .every citizen wins. Yeah, sounds like socialism. Sharing the assets. Standard of living rising for everyone. The pretend-conservatives would die at the idea. Nothing is "equal" in their version of the law of creation.

Taking another look, can JPMorgan or Bank of America undermine the American economy? You bet. That is one of the things that has happened. JPMorgan was able to unload a lot of real estate exposure that looked solid and even paid the insurance premium promising the new purchaser of the asset that it would perform, shifting the coverage or insuror to a party selling the concept of insurace. . . It began really easily for AIG to furnish insurance for the assets since they were rated so nearly as bulletproof. It looked like easy money, and it was for a while. Then the sub-prime default. . . and the Credit Card over-extention that poor people could not payback. . .

If you look at this as an attempt to financially overpower the United States, as if an outside force might invade the nation -- this withholding of liquidity and credit allows JPMorgan and Goldman Sachs to gobble-up smaller banks, or collections of investors. The Credit Default Swap designed and implemented by JPMorgan was a brilliant scam to shift the default of ARM's or under-performing Sub-Prime rate mortgages to those borrowers of holders of equity in dealings with JPMorgan and they were packaged and sold -- to remove the burden of their inclusion on the balance sheets -- freeing the "money reserves" for more "work." Once they are sold they are removed from the balance sheet and a small insurance fee is paid to some gullible insurer, like AIG, the top insurer in the business.

Those that normally try to figure out a sidestepping "legal" skim to make themselves and their buddies heaps of cash, hit the paydirt far more lucratively than Neil Bush and his good fortune when the S&L's were allowed to be just like banks - - but without the need for collateral from the borrower when money was loaned out to your friends. The Credit Default Swaps are even better! And the thought that W, of the Bushes is involved again. . . I'm sure there is another shoe to drop.

There are solid solutions.

An Article V can easily decouple the Fed . . . and return control of the nation to the people, with interest. But the power of the people might be challenged by congress -- just like ignoring their constituents in the bailout vote.

Article V could do anything that makes good economic sense -- and seizing the Federal Reserve might help immensely.

Nationalize the Federal Reserve and regulate the fundamental basis rates. In the original version of the bank of the united states, with the attempt to charter the second bank Andrew Jackson "killed the bank." Could the Republican's resist that? Or the Democrats?

I know this from my queries of them. They are all afraid of the citizenry; and they are afraid of an Article V convention -- especially if held away from Washington, or distributed amongst the states via communications. The corporate expense in buying thousands of times more people than they buy in Washington now, would be tough!

Congress doesn't want an Article V.