In my last post, I reposted Alan Greenspan’s now famous 1969 piece, in which he clearly lays out for all to see, the tactics that the International Bankers have used to wrest control of this planet for their own ends.
The methods and tactics used over two centuries to move the people of the world into a giant supra-national state, owned by this banking Cabal, for the benefit of the bankers have been stealthy, and protracted. Each world citizen, will be essentially a slave, and those that can’t or won’t work will be used to wrack up debt, which the rest of society will be obliged to pay for, in ever higher taxation. The increasingly controlled health systems will be controlled by Mega Pharmaceutical, and Bio-Technical Corporations. Taking care of your own health via use of natural remedies, and food supplements to prevent ailments, will be increasingly not only frowned upon but illegal. (CODEX ALIMENTARIUS – 2001 in Europe, began this process)
As to claims regarding silver supply/demand fundamentals, worldwide demand has been at best steady, and supply has been robust, though longer term, demand is set to rise, as more and more electronic devices will use increasing amounts – Think: Munitions, Aircraft, Cars/Electric Vehicles, Solar Panels, Wind Turbines, Medicine, and Personal care products for silver’s Anti-viral/fungal/bactericidal properties, as well as Wearable Devices, and Silver Nano-fibres in clothing, Catalysts in chemical processes, and in plastics and paints – And the list goes on.
Whilst the high price in 2011 did indeed encourage higher production, as has been stated, some specialist pure silver mines and mostly silver mines (i.e. silver is the predominant ore in the body) with lead, zinc, plus other trace metals ( Gold, Uranium, etc et-al) increased production. BUT, If 70% of production is secondary (as a result of demand for industrial metals) and industrial metals demand is in a collapse, then this will therefore affect supply, and will over the next 2-3 years lead to a serious supply shortage especially IF the silver stackers continue their stacking, and the Apples and Googles of this world continue their technical developments, which should underpin price above the $12.50/oz level and more likely circa $13.50(ish) because production costs for all but the cheapest miners are in the $15-18 range.
Price has levelled out over the last six months after falling briefly to the $13.60 area (under £10) and leaving aside the price fix the other day, that took the silver fix price 84 cents lower than the spot price, leaving many commentators aghast, as it began rising to the current $14.20-$14.50 range, and is set to rise modestly until circa 2018/19 (IMHO), when I believe it WILL then begin to rise exponentially, as the supply glut diminishes, and the demand rises, working its way through the market. But also because of policies discussed below.
In the 1970s, the same thing happened over a shorter time frame… What was driving the markets then? DEMOGRAPHICS – just as today. The only thing then was most retirees only lived on average circa 3-5 years post-retirement. Those who worked in nice well-paid office jobs might have lived 20 years post-retirement, but your average factory worker didn’t. Those retirees, were born during the Edwardian period, i.e. 1901, to 1910.
These days, WE baby-boomers will last 30+years post-retirement (money & health care costs willing) That means any retirement monies, will need to fight inflation for at least that length of time.
Think back 30years, and try to remember what prices were like then… In Britain, an average week’s wage for a low level worker was about £60. ($150ish at exchange rates then) Today, even with average wages falling, the low wage workers are earning circa £300-£400 per week for a full week’s work of circa 35-40 hours. ($650ish)
So in 30 or so years, time your money will need to have 5-6x its current value to maintain purchasing power parity assuming similar inflation rates – Like YEAH, that’s gonna happen with $4trillion printed in the U.S. alone.. With negative interest rates in Japan introduced this week, and several Euro-land Central Banks doing the same over the last year, how long will your cash-pile last? It’s like Electronic Coin-clipping, which ultimately led to the decline and fall of the Roman Empire, as the Roman Guard, were paid in debased coinage as silver was removed little by little, making the coins less valuable over time.
And today, I heard of the final insanity. Central Bankers in Switzerland, are now considering the ultimate ignominy of paying everyone in the economy a monthly sum of money, as a supposed antidote to deflation. The Swiss are discussing paying $2,500 to every adult, and $750 to every child direct into their bank account. Keynes thought this might be the ultimate solution to the problem, of deflation. In fact, Ben Bernanke who reputedly said that in the final analysis…
…the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation…
and that is how he got his nickname – “Helicopter Ben” for his allusion to dropping money from helicopters. This madness will not end well.
As Prime Minister and subsequently – Lady – Thatcher so eloquently put it – “Eventually, you run out of other people’s money”, but the plan as mad as it sounds, echoes what Mike Maloney has said in several videos available on You-tube, when he said that the Central Banks, would do a “Helicopter drop” to attempt to kick-start the economy, when all it does is create ever bigger debt loads, which have to keep growing – until they don’t – and then the sky falls in. You can read a piece that explains it in more detail HERE.
So the answer is easy… Keep Stacking…
To all my readers, this is my first real re-assessment of global matters this year. So a belated Happy New year.
Just prior to Christmas, Janet Yellen – Fed Chairperson, announced a 25 basis point rise in interest rates. Since then, a sell-off has occurred in markets both near and far. The NYSE is down from its recent 18,000 high to circa 16,400 as I write. The LSE (FT Index) is down from close to 7,000 to a little under 6,000 – no problems here?
In China, the Shanghai A Shares market fell from 5,400 in mid-June 2015, to 3,087 as I write – close to a 45 percent fall, in 6 months, as those leveraged souls sold off their holdings to meet margin calls, and this in itself forced another round of selling, which created a need for more collateral, which forced others into selling to meet margin calls, which… (ad-nauseum) you get the idea…
Of course the Chinese Government had pulled out a sticking plaster to paper over the cracks by inserting automatic trading gates when markets fell which automatically closed to halt trading for the day. And a day or so ago, I learned that employees of large Chinese corporations expecting annual bonuses in their end of year pay packets, are being required to buy their company’s shares, and are unable to sell them for six months or even a year.
They also instigated legislation to limit large holders over a certain per-centage from selling within 6 months of purchase, stopping large holders from unduly influencing key corporations’ prices. All of which suggests not all is well in the netherworld on the far side of our planet.
This steadied the markets a little, as also some good news came out of Britain and America, a few days ago, who are still the most important world economic barometer.
Meanwhile, in his Farewell State of the Union speech, President Obama, sounded a bullish note, that all was right with the world. The U.S. was still the most powerful country in the world, far above the rest in terms of influence, economic and military power, and the sheeple can all sleep snugly, safe in the knowledge that he has got their back…
He touched on the shortcomings (as he saw them) of other politicians who made swipes at other religions (no names mentioned – but it was obvious who, he meant), and he covered the new compact between those signatories to the Trans Pacific Partnership (TPP), which is making its way through the corridors of power in those 18 nations who have or will sign up to it – it will protect corporate jobs in America he stated, but at whose cost? (We will have to come back to this particular topic in the future as it is too big to cover here – but you can make your own judgement here —->>> https://www.eff.org/issues/tpp)
So, this brings me to yesterday’s news, that the oil price has dropped further and went below $30 per barrel. This may on the surface appear good news for consumers, as diesel and petrol (Gasoline) will be cheaper, making the journey to work a little less costly, and provide those who can’t afford to live in the city or town of their employment for cost or availability reasons, a little comfort. But the downside to this is ominous. Most oil producers in western nations are producing oil at circa $40-60 barrel, depending on wages, and source rocks. Those under water will require perhaps as much as $80/barrel to break-even, meaning those who work in the North Sea fields are a little nervous about their employment prospects in that area. Those oil co’s with fracked wells rely on cheap finance to drill for new reserves, and need high prices to pay off their previous borrowings on existing fracked wells. The cheap finance that allowed these wells is drying up as interest rates rise, and oil prices tell their own story.
Oil is though, the engine of the world economy, as it is the most widely used commodity on the planet, and goes into more products and services than any other – plastics, chemicals, transport, energy production, glass production, paints, road maintenance – you get the picture.
So, as to the title of this piece, Ms Yellen raised her interest rate by 25 basis points – one quarter of one per-cent – and was/is hoping to raise them in small baby steps over the coming year, but it is increasingly likely that further falls in world stock markets will risk them falling off a cliff, if rates rise any further. This may happen anyway as it is now 8 years since the last market correction meaning we are long overdue. Some pundits are predicting a March-May sell-off as the next rate rise takes effect, but China’s problems of keeping their economy afloat may be the petrol, that is thrown onto this slow-burning peat-moor fire – For those not familiar, with these, in the UK., they are famous for slow burning moorland fires that last weeks, or longer as the heat gets transferred to the root system, and the ground is so dry, that nothing short of exploding bombs can put a stop to it or it burns itself out.
Jim Rickards, Bill Bonner, and many others have been predicting this slow motion car-crash for what seems like ages, and many will be feeling like these are just doom-mongers or like the boy who cried “Wolf” because nothing seems to happen. Harry Dent – like myself has suggested we face deflation more than inflation, but where Harry and I differ is that I expect, the period from 2018-2020 to be a critical one from an economic perspective. Given the birth rates after the second world war, which peaked in the end of the fifties (at least in America), those births fuelled the growth in jobs, and the economy from 1947, through to the recessions of the early 70s to 80s, as they at first grew up, bought their first flats, and then their starter homes and then during the early 80s started their own families.
In the late 90s and early noughties, the baby-boomers spending and their desire for retirement income, fuelled the web explosion and the housing boom, as lowering interest rates meant it was expedient to buy buy-to-let property in the late stages of the interest rate reduction lifecycle. Their offspring meanwhile were buying their first flats and starter homes, and if my eyes don’t deceive me, their tiny Tims and Jessica’s are now part of the new baby-boom that will fuel the next music revolution. Whether that is more Punk, than Cool Britannia will depend to a large extent on what happens with the economy, which tends to change every seven years as teenagers become twenty-somethings, and their younger peers seek to distance themselves from those that went before, until 30-40 years later, it all comes round again… Just like in the financial and economic world. The recessions of the 70s, the Oil price spike in 73, the rise of Islamic Fundamentalism, all re-runs, and the worst of it is, every two generations the world has the big one… Think 2008 was the big one? Think again. Prepare for it. Here —>>> FREE Crypto-currency or Here —>>> Silver Coins and Bars
Over the last few years, I have studied the role of money and Bankers I have reached the conclusion, that the subject should be compulsory study for all, so that we understand the control that they exert over the nation, and thus we might watch them for their connivances…
Thomas Jefferson wrote this in a letter to the Secretary of the Treasury, Albert Gallatin, in 1802:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them, will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.”
“All the perplexities, confusion and distress in America rise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation”.
– John Adams, in a letter to Thomas Jefferson in 1787
“I believe that banking institutions are more dangerous to our liberties than standing armies”.
– Thomas Jefferson
“I consider the foundation of the Constitution as laid on this ground that all powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are preserved to the states or to the people.”
” … To take a single step beyond the boundaries thus specially drawn around the powers of Congress is to take possession of a boundless field of power, no longer susceptible of any definition. The incorporation of a bank, and the powers assumed by this bill (chartering the first Bank of the United States), have not, been delegated to the United States by the Constitution.”
-Thomas Jefferson – in opposition to the chartering of the first Bank of the United States (1791).
“If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”
– Samuel Adams, speech at the Philadelphia State House, August 1, 1776.
“The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the International bankers (moneychangers) was the PRIME reason for the Revolutionary War.”
-Benjamin Franklin, from his autobiography.
President James Madison (4th President) stated:
“History records that moneychangers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”
“Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.”
– President Andrew Jackson, upon evicting a delegation of international bankers from the Oval Office
“A central bank is a curse to a Republic; in as much as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberty of the country.”
– Andrew Jackson
Senator Daniel Webster read this into the Congressional Record on March 4, 1846:
“A disordered currency is one of the greatest political evils. It undermines the virtues necessary for the support of the social system, and encourages propensities destructive to its happiness. It wars against industry, frugality and economy, and it fosters the evil spirits of extravagance and speculation. Of all the contrivances for cheating the laboring classes of mankind, none has been more effectual than that which deludes them with paper money.”
“I see in the near future a crisis approaching. It unnerves me and causes me to tremble for the safety of my country… the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war.”
– Abraham Lincoln – In a letter written to William Elkin just after the passage of the National Banking Act of 1863 and less than five months before he was assassinated.
“The money power preys on the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes.”
– Abraham Lincoln
“Whoever controls the volume of money in any country is absolute master of all industry and commerce.”
– President James A. Garfield
“Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the U.S., in the field of commerce and manufacturing, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.”
– Woodrow Wilson – In his book entitled The New Freedom (1913)
“The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements….The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States….The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.”
– Rep. Louis McFadden – (Chairman of the House Committee on Banking and Currency) quoted in the New York Times (June 1930)
“The Federal Reserve (Banks) are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this Nation is run by the International Bankers.”
– Rep. Louis McFadden
“(The Great Depression resulting from the Stock Market crash) was not accidental. It was a carefully contrived occurrence….The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.”
– Rep. McFadden testified in Congress (1933).
There were at least two attempts on his life by gunfire. He died of suspected poisoning after attending a banquet.
“The real truth of the matter is, and you and I know, that a financial element in the large centers has owned the government of the US. since the days of Andrew Jackson. History depicts Andrew Jackson as the last truly honorable and incorruptible American president”.
– President Franklin Delano Roosevelt, November 23, 1933 in a letter to Colonel Edward Mandell House
“Give me control over a nation’s currency and I care not who makes its laws”
– Baron M.A. Rothschild (1744 – 1812)
“The few who can understand the system (Federal Reserve) will either be so interested in its profits, or so dependent on its favors, that there will be no opposition from that class, while on the other hand, the great body of the people, mentally incapable of comprehending the tremendous advantages that capital derives from the system, will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests”. [As they say, “Ignorance is bliss!”]
– John Sherman, protege of the Rothschild banking family, in a letter sent in 1863 to New York Bankers, Morton, and Gould, in support of the then proposed National Banking Act
“Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits.”
– Sir Josiah Stamp – President of the Bank of England in the 1920’s, and the second richest man in Britain.
“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose”.
– John Maynard Keynes, economist and author of “The Economic Consequences Of The Peace”
“Historically, the United States has been a hard money country. Only [since 1913] has the United States operated on a fiat money system. During this period, paper money has depreciated over 87%. During the preceding 140 year period, the hard currency of the United States had actually maintained its value. wholesale prices in 1913… were the same as in 1787”.
– Kenneth Gerbino, former chairman of the American Economic Council
These statements were made during hearings of the House Committee on Banking and Currency, September 30, 1941.
Note: Members of the Federal Reserve Board call themselves “Governors”.
Governor Eccles was Chairman of the Federal Reserve Board at the time of these hearings.
* Congressman Patman: “How did you get the money to buy those two billion dollars worth of Government securities in 1933?”
* Governor Eccles: “Out of the right to issue credit money.”
* Patman: “And there is nothing behind it, is there, except our Government’s credit?”
* Eccles: “That is what our money system is. If there were no debts in our money system, there wouldn’t be any money.”
* Congressman Fletcher: “Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?”
* Governor Eccles: “Never, not in your lifetime or mine.”
Congressman James Traficant, Jr. read this into the Congressional Record on March 17, 1993:
“Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913) “hypothecated” all property within the federal United States to the Board of Governors of the Federal Reserve, in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their “subjects”, the 14th Amendment U.S. citizen, to the Federal Reserve System.”
“In return, the Federal Reserve System agreed to extend the federal United States corporation all of the credit “money substitute” it needed. Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan.
Since the federal United States didn’t have any assets, they assigned the private property of their “economic slaves”, the U.S. citizens as collateral against the un-payable federal debt. They also pledged the unincorporated federal territories, national parks, forests, birth certificates, and non-profit organizations (all 501c3 church’s), as collateral against the federal debt. All has already been transferred as payment to the International bankers (moneychangers).”
“Unwittingly, America has returned to its pre-American Revolution feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, “We the People” are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. “We the People” have exchanged one master for another.”
Congressman Ron Paul read this into the Congressional Record on June 5, 2002:
“Gold is history’s oldest and most stable currency. Central bankers and politicians hate gold because it restrains spending and denies them the power to create money and credit out of thin air. Those, who promote big government, whether to wage war and promote foreign expansionism, or to finance the welfare state here at home, cherish this power.”
Richard Russell stated in “The Daily Remarks” on August 21, 2006:
“Under the current system with a central bank creating and controlling our money, you are guaranteed to lose purchasing power two different ways – via taxes and via inflation. The central bank system is the greatest scam ever perpetrated on an ignorant public. The eternal enemy of every central bank is – gold.”
“Don’t get suckered into black vs. white, Democrat vs. Republican, free markets vs. regulated ones, Moses vs. Muhammad, etc… Its all about the control of the issuance of currency. Everything else is a big huge fancy production put on the stage to distract the audience from the fact that the ticket sales booth register is empty, the theater doors have been locked from the outside, and the lobby is burning…”
I have been following the economic woes of Britain and the U.S. now for 15 years, ever since I first began reading up on money, and at how money has been usurped by currency, to the economic benefit of the few families who own the Federal Reserve. Those same Bankers and their coterie, also own Britain’s wealth too. And the above quotations were made by men who realised at the time, what would happen, and as we now know… it HAS.
However, much currency the Fed injects into the economy, the over $20 Trillion has had little effect. As Peter Schiff of Euro-Pacific Capital stated recently, the economy in the U.S. has barely budged into positive territory as figures get revised perhaps one or two months after their initial release, and in most cases, they are revised downwards.
And RT in its Boom Bust programme, stated, 95% of American economists feel that the Fed is due to raise interest rates, yet Peter Schiff disagrees, and has steadfastly stated that the Fed will not raise rates this year, suggesting that the economy is far from rosy. The labour rates released are backwards looking, i.e. at events as they have been, whilst there have been some recent improvements in the jobs numbers, these are temporary jobs, in many cases, and/or part-time service sector, providing little scope for increased consumer spending. Britain too is following the American lead, though, figures have been better, the demographics have been distorted in recent years by mass immigration of people from Europe, who for the most part are in the prime consuming years of their lives.(25-47 age range).
The Financial Times today (31/12/15) announced that the end of Banker Bashing is here as the FCA suspended Banker reviews…
But, if after reading the above quotations by some of America’s foremost and most far-reaching thinkers, you still feel that Banker Bashing should end, then I despair for your critical thinking capabilities.
Until we as a society, take back control of our money, those who control the nation’s Banks, will control the Nation’s Politicians, and control the Nation’s economy. And investments where they will create most value to the people will be lost.
Just 5 months after President John Fitzgerald Kennedy issued executive order 11110, allowing the Treasury to issue silver certificates, diminishing the ability of the Bankers to control money, he was shot and killed in Dallas Texas… Where the two things connected? I’ll let you decide, but it is common knowledge, he despised the powers behind the throne, and believed that secrecy in public policy matters was in his word – “repugnant”.
If you think that is the correct state of affairs, then you must also believe that Josef Stalin, Vladimir Lenin, Adolf Hitler, Benito Mussolini, General Pinochet, Pol Pot, General Franco and Chairman Mao Tse-Dong all did the right thing by their people.
And you can help yourself, by following the links above right, and help us, by liking us or posting links to spread the word – to your Facebook page, your twitter account, or similar…