Thursday, November 15, 2012

A textbook primer on How simple Elitist PROPAGANDA is: video narrator rattles off lies, half-truths, and fallacies in a short video about the so-called 'Federal' Reserve....


The below video, purporting to be 'a primer' on the Fed, is actually a textbook example of propaganda lies, fallacies,  and misdirection,  masquerading  as authoritative,  simple  facts:


Episode 11 - Whats The Big Deal About The Federal Reserve? from Minute MBA by OnlineMBA.com on Vimeo.


If you're looking for a good (get drunk fast) drinking game, just have a shot for every trite obfuscation, fallacy, and misdirection the female script-reader rattles off in this video as authoritative fact!  


Where do we start?   

"In 1913, the 'Federal' Reserve was created to HELP STABILIZE the monetary system..."  

   "The typical criticism of the Fed is that it is a PRIVATE CORPORATION partially RUN BY THE BANKS it is SUPPOSED TO regulate.  THIS MISCONCEPTION...."           !!!  



So - Jamie Dimon, who was and is the CHAIRMAN of JP Morgan/Chase PRIVATELY OWNED New York based mega-BANK, 
was NOT "run[ning] the Fed"... when HE WAS CHAIRMAN & CEO of the NY Fed BOARD of DIRECTORS ???!!  
http://www.newyorkfed.org/aboutthefed/org_nydirectors.html  



And what is with EVERYONE GIVING the 'Fed' a FREE PASS, for LANDING AMERICA in THE GREATEST DEPRESSION in our entire U.S.A. history, barely a decade after the Fed was instigated by that Christmas eve legislative coup ("The Creature from Jekyll Island") Dec. 1913, at the behest of Warburg, Schiff, and other FOREIGN (European) bankers, based on their  LYING PROMISE to "stabilize" the American economy,         and provide for the twin purported Fed "mandates" 
of  FULL EMPLOYMENT and PRICE STABILITY?   


  - The Great Depression of course saw the Fed preside over the DIAMETRICAL OPPOSITE of "full employment and price stability":   MASSIVE UNEMPLOYMENT approaching what in real-life was 50%+...  and MASSIVE PRICE DEFLATION, because in typical Rothschilds "pump & dump" market manipulation fashion
(the intentional  CRASHING of  rival firms stock, rival bond issues through market manipulations.. even entire currencies and national economies destroyed,  in order for the hyper-wealthy banking cartel to pick up the ruined pieces for pennies-on-the-dollar) 


  ...the Fed had CONTRACTED the CREDIT-SUPPLY  =  "money supply
," 

   and PRICES DEFLATED because there was NO MONEY IN CIRCULATION, after the Fed's titanic pump-and-dump, for people to buy anything! 


 ( 1920s credit expansion >  credit bubble > business failures & bankruptcies > Fed instigated CREDIT CONTRACTION > wholesale economic contraction (even healthy businesses  could not find customers who had money to spend!) > GREAT DEPRESSION > hyper-wealthy bankers now preside like ruthless medieval kings over the tattered remains of U.S. and world economies...  ) 

The stock-market crash didn't come until Oct. 1929,   just a short decade-and-half after the Fed's inception;  but in that era America was over a 50% rural, agricultural nation... and The Depression had actually  long set in among farming communities  (over 50% of the U.S. population at the time),  
   because farmers  had taken loans out to EXPAND their production to supply hungry Allied armies during WWI... only to have those government contracts, and thus demand, drop off a cliff after the war... while the bankers,  who profited from the war, began taking possession, for pennies on the dollar of CALLED IN LOANS,    on  those very farms that had powered the Allied armies to victory in WWI.   
         The above ruthless foreclosure on America's hard-working farmers,   by the direction
 and 
with the instigation & complicity of the evil New York & overseas  Fed bankers.   


And how about the Fed's CLAIMED responsibility to "REGULATE" banks? 

 Look at wikipedia's propagandistic  entry on the subject:  

 "Between 1929 and 1933 40% of all banks (9.490 out of 23.697 banks) went bankrupt.[35] Much of the Great Depression's economic damage was caused directly by bank runs.[36]"    
http://en.wikipedia.org/wiki/New_Deal#Banking_reform

  Hmmm... 
   "much of the Great Depression's economic damage was caused directly by bank runs..."  


  This misleading sentence implies that it was Americans who pulled their savings from banks who were responsible for the "economic damage"...   but why would people pull their savings from a "safe" bank account?   

 - ans:  because maybe their money wasn't  so "SAFE" in those POORLY REGULATED banks!   


   Sure enough,  President Roosevelt & Treasury Secretary, Henry Morganthau's  "SOLUTION" CONFIRMED THE FEARS of those who had been lucky enough to pull their savings from suspect banks,  because Roosevelt & Morganthau CLOSED ALL BANKS in the infamous "banking holiday",  and "PRESTO!"  when they reopened, why, some banks  did NOT reopen... those who had their life savings stashed in those banks, LOST EVERYTHING!     

 

Indeed, even the despicably elitist/authoritarian wikipedia can't hide the whole truth, because there it is, just 2 sentences ahead of our above highlighted sentence:  

   "At the beginning of the Great Depression the economy was destabilized by bank failures followed by credit crunches. The initial reasons were substantial losses in investment banking, followed by bank runs." 

http://en.wikipedia.org/wiki/New_Deal#Banking_reform

     
 Note how innocuous the second sentence sounds; the "initial reasons" were "substantial losses in INVESTMENT BANKING."   


   This is PURE wiki PROPAGANDA, DOWNPLAYING the REAL cause of the Great Depression - MASSIVE LOSSES by wealthy speculators at "investment banks" 

that drove their banks into insolvency  - and trying to blame mom & pop savers for herd-like "panic" withdrawing their money from banks that had GONE BANKRUPT... because  horrific  'Fed' Reserve oversight, meaning NO real regulation,    had ALLOWED those speculators at the top of the banking hierarchy to DRIVE THEIR BANKS INTO THE SEWER of BAD DEBTS and bankruptcy with speculative lending and highly 'leveraged' stock speculation  !!!  


      The dirty secret of American finance, is that "INVESTMENT BANKS" are not like ordinary banks,  they are essentially GAMBLING OPERATIONS with cash put up by the wealthy;   as Americans came to understand during the high-flying "dot-com" bubble-and-bust days.     

   Wealthy investors in hedge-funds and at  big "investment banks" in New York and elsewhere, would buy shares in, or extend loans (buy bonds) to HIGH RISK new companies, hoping they had an idea or product that would go mega... like Microsoft, Apple, CISCO, or other companies that weren't even around 3 decades ago.   

     Now if the start-up company becomes a titanic success, the "INVESTMENT BANKERS" and hedge-fund boys made millions... but if the start-up company FAILS to become a monster hit, the "investors" - NOT the American public - should be the ones to take the losses.   

  So we can quickly see that THIS economic crisis, 2007-2013, is almost exactly like the Great Depression:  the  BIG BOYS, the "investment" banks and hedge-funds on Wall Street, made BAD BETS gambling with their money... but instead of taking the losses, they SHAFTED THEIR LOSSES on to the American public and taxpayers, in the form of BRIBING & EXTORTING Con-gress to give them tens of billions (upon trillions) of dollars in "bailouts"!   

  ----------------------------------------------------------------------------- 


 When Roosevelt & his Treasury Secretary Henry  Morganthau declared that "BANKING HOLIDAY," it was Americans who lost THEIR LIFE SAVINGS in POORLY REGULATED BANKS who took the hit... the Fed bankers, who did so horribly in "regulating" those banks, came out smelling like roses, they still had the MONEY PRINTING power, and, with everyone else impoverished, the hyper-wealthy behind the big-banks  became that much wealthier and more powerful.  


   The above to mention just THREE fallacies, and  miserable failings and/or intentional financial sabotage,  of the Fed banksters leading to the Great Depression...

  ...and we haven't even mentioned Morganthau's DESPICABLE wealth-seizure, the GOLD CONFISCATION of 1933,  where Roosevelt's so-called "liberal Democrat" Treasury Secretary reverted to OLD WORLD,  Divine Right of Kings power to CONFISCATE "subjects'" wealth, by mere DICTATORSHIP DECREE,   Roosevelt's  so-called "executive order"

In March 1933 President Roosevelt signed Executive Order 6102 criminalizing the possession of monetary gold by any individual, partnership, association or corporation[3][4] and Congress passed a similar resolution in June of 1933.[5]
http://en.wikipedia.org/wiki/Executive_Order_6102  



   Just 80 years after the 1849 CALIFORNIA GOLD RUSH  showed that average Americans could  potentially become wealthy by digging gold out of the hills and streams of America,   New York & Washington's  elitist,   "modern"   "FINANCIAL LEADERS" had  CRIMINALIZED AMERICAN OWNERSHIP OF GOLD... .blaming middle-class American "hoarders" for the ECONOMIC sabotage &  DESTRUCTION wrought by the financial elites and their  so-called 'Federal' Reserve bankers!!  

    Executive Order 6102 had almost NO impact on WEALTHY Americans...  they had the resources to build their own private, unaudited vaults, or, more likely, simple ship their gold to London, Switzerland, or Canada where they could sell it on world markets at fair prices at any time.

   Exec Order 6102 was PURE EVIL SCAPEGOATING - Morganthau and Roosevelt SCAPEGOATING middle-class Americans who had the FORESIGHT to AVOID the ATROCITY of the so-called 'Federal'  Reserve criminally run banking system as "HOARDERS,"  when in fact it was the FED that was HOARDING the world's gold!


    The Fed banksters in the late 1920s held most of the world's gold, because they had financed Britain and France's titanic World War I  munitions (weapons), food, and supply purchases during those deadly war years,  when the British and French governments had long ago spent all their savings and cash supplying their huge armies, and soon thereafter had to ship their gold to New York as down-payments (or "reserves") on titanic war loans.

      In addition, Germany's debilitating post- World War I  reparations payments (punishment payments dictated to Germany by the Versailles Treaty of 1919) flowed straight through France and England... to those big banks on Wall Street... that own 'the Fed'!


   In just a few short paragraphs, above, we have DEMOLISHED FOUR specific  major misconceptions, or outright lies, about the Fed's duplicitous,  "have it both ways" role in the American economy -

  1.     they claim that they will provide an orderly, REGULATED banking system, then blame American families for withdrawing their funds from banks that have been RUN INTO THE SEWER by UNREGULATED 'elite' management; 
  2.  they CLAIM they will provide "full employment & price stability" when, WHADDA YA KNOW?!  a mere dozen+ years after they were created, the  evil Fed banksters PRESIDE OVER the GREAT DEPRESSION, with titanic unemployment and massive price deflation..
  3.  they  IMPLY that they are part of the U.S. government (see the awful wikipedia use of the great seal of the United States, to IMPLY that 'the Fed' is part of the U.S. government!)  and acting as "responsible citizens" when they ARE   WHOLLY OWNED by the banks... and loyal only to their hyper-wealthy owners (American peons damned)!
anyone stupid enough to believe that the above hyper-wealthy bankers (and their hired/co-wealthy senators & politicians)  give a rat's ass about America's unemployed workers...  much less those poor Americans on edge of malnutrition and starvation - practically DESERVES to see their families dispossessed by rotchilds modeled central banker "pump & dump" economic sabotage..
 


  As  our final mention of the Roosevelt/MORGANTHAU  GOLD CONFISCATION  'executive order'  also illustrates,    while  President Franklin Roosevelt and Henry Morganthau are PRESENTED to the American public as being "LIBERAL,"  even "socialist,"
 their financial policies were actually RADICAL RIGHT-WING REACTIONARY,

 the very real threat of  a throwback to MEDIEVAL TORTURE DUNGEONS  (being sent to brutal 1930s era prisons) for those who didn't turn over their wealth to the king  Fed banksters in these specific examples
 (or  the "banking holiday,"  where those families that lost their savings HAD NO RECOURSE).

    The WPA, CCC, and other aspects of Roosevelt's "New Deal" presidency may indeed have been 'liberal,'  progressive, populist, or even "socialist"
(note:   every military, in every modern nation, is 100% 'socialist' - the government owns everything!)
 
   - but the CORE of Roosevelt's New Deal, as presided over by Treasury Secretary Henry Morganthau,  was actually completely in line with the financial extortion policies of the REACTIONARY right-wing FED BANKERS...

    ...who HOARDED THE NATION's REAL WEALTH,  leaving productive assets sitting idle -  as MILLIONS of Americans faced abject poverty, malnutrition, dire economic times, and soaring suicides and decreased life expectancy.

  ...Which is why America didn't really pull out of the Great Depression until the World War II years created FULL EMPLOYMENT in wartime factories;   MANDATORY RATIONING (that's  "socialism" on steroids!), and a sense of SHARED NATIONAL COMMITMENT... a notion that today's hyper-wealthy, wallowing in their ill-gotten "BAILOUTS" loot,  sneer at.