» Fractional Reserve Poverty Reaches New High

September 13, 2011

According to the Census Bureau, nearly 1 out of 6 Americans now live in poverty. From the Associated Press today: The Census Bureau’s annual report released Tuesday offers a snapshot of the economic well-being of U.S. households for 2010, when joblessness hovered above 9 percent for a second year. It comes at a politically sensitive time for President Barack Obama, who has acknowledged in the midst of a re-election fight that the unemployment rate could persist at high levels through next year….

Measured by total numbers, the 46 million now living in poverty is the largest on record dating back to when the census began tracking poverty in 1959. Based on percentages, it tied the poverty level in 1993 and was the highest since 1983.

In fact, the real unemployment figure is 22.8%, according to John Williams’ Shadow Stats. During the last Great Depression, the unemployment rate peaked at 25 percent in 1933.

The current boss of the Federal Reserve, Ben Bernanke, has admitted that the Federal Reserve engineered the Great Depression and future Federal Reserve chairmans – if we don’t get rid of them – will probably admit the current Greatest Depression was created by the banksters.

Both unemployment and poverty are created by the fractional reserve system and its expansion of the money supply.

“Poverty can be caused by real economy, that is to say, by the lack of supply of real things,” writes economics professor Ahamed Kameel Mydin Meera.

It can also be caused by the monetary system. In a modern capitalist economy, the creation of abundance of money that accrues very unevenly in the hands of individuals can aggravate poverty. Milton Friedman, a well-known monetary economist, says that inflation is predominantly a monetary phenomenon. If this is the case, the worsening of the global poverty problem can be significantly pointed at the institutions that are responsible for the creation of fiat money.

In the United States, that institution – not federal, as claimed, but owned by a cartel of bankers – is the Federal Reserve.‪

Alex Jones: Total Economic Implosion and Bondage by Design‬. See the rest on the Alex Jones Channel.

via » Fractional Reserve Poverty Reaches New High Alex Jones Infowars: Theres a war on for your mind!.

Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other

September 3rd, 2011
By David DeGraw

Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:

As I reported last week:

Collapse Roundup #5: Goliath On The Ropes, Big Banks Getting Hit Hard, It’s A “Bloodbath” As Wall Street’s Crimes Blow Up In Their Face

Time to put your Big Bank shorts on! Get ready for a run… The chickens are coming home to roost… The Global Banking Cartel’s crimes are being exposed left & right… Prepare for Shock & Awe…

Well, well… here’s your Shock & Awe:

First up, this shockingly huge $196 billion lawsuit just filed against 17 major banks on behalf of Fannie Mae and Freddie Mac. Bank of America is severely exposed in this lawsuit. As the parent company of Countrywide and Merrill Lynch they are on the hook for $57.4 billion. JP Morgan is next in the line of fire with $33 billion. And many death spiraling European banks are facing billions in losses as well.

FHA Files a $196 Billion Lawsuit Against 17 Banks…

via Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other | AmpedStatus.

Why An Income Tax is NOT Necessary to Fund the U.S. Government

Why an Income Tax is Not Necessary to Fund the U.S. Government

Also available on audio for free; click here.
Download to a CD or IPod and help get the truth to family and friends

Devvy Kidd

Originally published and copyrighted in June 2001
Changes in text (c) 2005

“Can this statement possibly be true? In order to answer this question, Americans must first understand what is the source of the money that funds the government and where it goes. Contrary to the sound bites issued by the two mainstream political parties, the reality of how the system actually works will not only open your eyes, but hopefully stimulate the American people to demand that the thievery underway come to an end.

Where do your “income” tax dollars go?

The best place to look for an answer to this question would be a government report, so let’s take just one at random:

President’s Private Sector Survey On Cost Control
A Report to The President (Reagan)
January 15, 1984. Available from the Congressional Research Service.

[…]

Resistance to additional income taxes would be even more widespread if people were aware that:

With two-thirds of everyone’s personal income taxes wasted or not collected, 100% of what is collected is absorbed solely by interest on the Federal Government contributions to transfer payments.

In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their government.” [emphasis added]

So what we have is a central bank issuing worthless paper “money” that controls our economy, our lives and our future. This private banking cartel was unconstitutionally granted this power by a devious, scheming group of senators back in 1913. In essence what they did was place the American people into indentured servitude by forcing The People to pay usury on worthless fiat currency (paper money created out of nothing), not to fund the government, but to enrich the bankers and fund wars in which America should never be involved. This system exists not to fund the government, but to allow the U.S. Congress carte blanche power to continue funding unconstitutional agencies and programs by providing them with a bottomless source of worthless ink.

[…]

Sometimes it’s difficult to be the messenger of news that people would rather not hear.

However, Americans can no longer remain in their comfort zones because the message isn’t what they want to hear. If your house is on fire, you don’t sit and continue to watch the television set, you call the fire department. America: Our house is on fire and it is the obligation of every American to safeguard the liberties and freedoms given to us by those who paid the ultimate price. Please join the growing numbers of millions who are ready to take back our country and stop the assault on our rights.”

via Why An Income Tax is NOT Necessary to Fund the U.S. Government.

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