The Money Machine $5
All the things we talked about in this series of articles are historic and history can be a great teacher. Two events happened over the weekend. One was a reflection on Ireland’s independence and we celebrated the 92nd anniversary of the Easter Uprising, the other event is current and history in the making. This second matter concerns the Bear, Stearns & Company bailout and the fact that the Federal Reserve, or the Central Bank for America, will interject $30 billion into the company, additionally candidate Clinton is asking the Fed to "make available" a further $30 billion to the public sector to help with the mortgage crisis. Before we continue, have a quick look at this post by Purple Frog to see what a billion really is! You’ll be amazed!
There were patriotic speeches made from Dublin this weekend and one quoted the words of the men of the 1916 Uprising, that they wanted "…a Sovereign and Independent Free State…" for Ireland. Little did those courageous men know that within one life-time Ireland would choose to give up this sovereignty and independence voluntarily for a new master. No control of currency, no control of borders, laws and leadership transferred off the island, and Ireland’s ability to take it’s place in the world usurped by strangers in Brussels who rule the European Union. The petty squabbles about the right-to-life and neutrality issues pale in comparison to the economic ramifications of the Lisbon Treaty for once the absolute control of wealth is handed over to Brussels we will follow the Pied Piper of Profit like good little mice. Within the Lisbon Treaty there is no provision that guarantees that the European Central Bank will remain independent of political control! President Sarkozy of France has criticized this independence and wishes to change it’s mandate.
Ireland has forfeited it’s right to control her own economic future. Previously in this series we mentioned Central Banks, these are institutions that control the ebb and flow of available currencies either by sovereign governments or agencies contracted by these governments. Ireland’s founding fathers freed us from being subjects of the Crown; but, now we have become subjects of the Coin. The European Coin. The European Central Bank.
Technically the European Central Bank is not a member of the International Monetary Fund, it doesn’t have to be, all it’s member states are. We saw, that in order to be a member of this elite banking club, all members must base their currency valuations on fiat currency, the taxabilty of it’s population, a.k.a. slavery to debt. Ireland’s population, and the States’ ability to extract taxes from them, gave Ireland’s currency a value when we surrended our Punts for Euros. In order to maintain these levels the ECB will insure that the rate of tax collected remains at these transition levels. Although England is a member of the European Union it was smart enough not to give up it’s sovereignty as regards to it’s economic freedom. The Bank of England is also a central bank; but, it is one that is owned and under control of the government. The Federal Reserve System is a consortium of twelve banks, owned privately, and under contract to the US government to provide an economy by which the politicians can conduct foreign and domestic policy.
President John F. Kennedy, who was a great student of history and an admirer of Thomas Jefferson and Benjamin Franklin, tried to give back to the American people the right to control their own destiny. In June 1963 he signed Executive Order Number 11110 which would take back the power of the Federal Reserve System and restore true "freedom and democracy" to the government "of the people" after it was taken away 50 years prior. He was killed within five months, draw your own conclusions. That Executive Order is still awaiting Presidential implementation for the brave soul who, while occupying the Oval Office, will dare to confront the Money Machine.
The ECB is currently fighting the temptation to lower interest rates and thus expanding the M1 money supply. It is under pressure from the US Central Bankers who are continually lowering theirs while they are printing all this new money for Bear Stearns and the mortgage bailout if Hillary has her way. This is a battle within the Money Machine that the ECB will lose. All these billions that the Fed is interjecting into the economy costs the tax slaves dearly, the combination of lower interest rates and more money in the system is hyperinflation which is expanding the money supply thus lowering values. The world economy has only one way to go, down.
In conclusion of this series we know what we have always known, that people are the true wealth of the world, and that there are those out there who are trying to steal this wealth. In simple terms we can fight this Money Machine by staying out of debt, vote NO to the Lisbon Treaty, be informed…be aware…be alert…help one another…and question everything!
Wow! This is a very powerful and passionate blog! I love it greatly!
Because our own economic system has been on the decline here in the US of late, I can honestly say that my mind has been “right here at home” and I haven’t ventured much into world economics. I do agree with you though that people should vote “no” on the Lisbon Treaty there in Ireland. I believe it’s important for Ireland to retain its right to control its own economic freedom - along with all other freedoms. The cost of freedom comes at too high a price to take it lightly.
You’re very wise to advise people to stay alert - stay out of debt - and to help each other. We are living in a world of change right now, and even bigger changes are on the horizon in the very near future. Transitional periods can be rather unsettling for us all and we need to reach out to and support each other in ANY ways possible. We are no longer a divided Earth, but a global community via modern technological advances.
Thank you for sharing your thoughts!
Comment by kimbathewhitelioness — March 25, 2008 @ 3:38 pm
Thank you Kimba for your lovely comment!
Indeed we are no longer a divided earth, there are no borders for the money machine, and we are all in this together!
Comment by Administrator — March 25, 2008 @ 3:50 pm
Cao - Regarding Ireland, I took the liberty to expand the discussion with these excerpts and links …
Ireland is currently in a state of boom, boasting one of the fastest-growing economies in the European Union, which is one of the best-performing in the industrialised world. This can partially to attributed to the injection of billions of pounds worth of European structural funds and the efficient management of the National Debt.
Also on January 1, 1999, control over Irish monetary policy, including setting interest rates and regulating the money supply, was transferred from the Central Bank of Ireland to the European Central Bank (ECB) which is responsible for all monetary policies of the European Union.
Meanwhile, previously run-down areas have been transformed into popular residential areas,
and in rural areas, EU structural funds have vastly improved the infrastructure. Construction is at an all-time high with the most intensive building works taking place in the Dublin area.
About Ireland
Ireland and Spain have had economic miracles with extraordinary growth rates that I think have been caused by access to the European Union. So if they will have economic difficulties, they can hardly complain if the ECB does not deal with their problems.
Monetary Injections
Also see …
EU99
The Morning After
Euro/Dollar
Euro sinks the dollar
Structural Funds
Structural Funds : Success Or Failure?
Comment by EuroYank — March 25, 2008 @ 5:14 pm
Wow Euro! The depth of your resource abilities knows no bounds! Yes indeed, Europe has pumped the Irish standard of living far from where it used to be. We are now approaching a par with the rest of the EU countries; but, we had large gains to be made just to get even. The boom has ceased, the money is gone, and we have been bought out lock, stock, and barrel by the EU at a cost of our natural and personal resources. Right now it is as good as it gets, in the future we will be surviving on any handouts from Europe that they see fit to toss our way.
Thanks for the links! Cheers!
Comment by Administrator — March 25, 2008 @ 6:14 pm
Excellent. I will be citing your series of posts here at the start on a little series of my own. Mine will be a little less well structured, deliberately so, and will start will my views on the phrase “conventional wisdom” which, I think, will have some resonance with this post. I hope you enjoy it as much as I’ve enjoyed yours, and feel free to call me a gobshite if I’m talking through my hat (how else will I learn?).
Comment by Thriftcriminal — March 25, 2008 @ 8:45 pm
Thanks TC, I look forward to reading your views!
Comment by Administrator — March 25, 2008 @ 9:07 pm
BTW this book covers some of this in an hilarious manner:
Making Money
Comment by Thriftcriminal — March 26, 2008 @ 7:00 pm
I followed the link, the book sounds real interesting!
Comment by Administrator — March 26, 2008 @ 8:52 pm
Fakey put me on to this:
Article
Comment by Thriftcriminal — March 29, 2008 @ 9:33 am
Thanks for that link TC. Sach’s writes a great analysis of the current situation and Kennedy’s words at the end were prophetic, is there anyone listening?
Comment by Administrator — March 29, 2008 @ 12:32 pm
I can’t believe I did that much reading before my second cup of coffee! You certainly know how to take the boredom out of economics. Thank you for these well worked posts. I will be passing it around!
Comment by www.bkroads.com — April 1, 2008 @ 10:57 am
Thanks bkroads, glad you liked it!
Comment by Administrator — April 1, 2008 @ 11:15 am