THE NEW AMERICAN REVOLUTION: BREAK THE BANK
Joan Veon – 2008-09-28
ONE MORE CHANCE FOR LIBERTY DEPT.
Rep. Ron Paul of Texas once again is offering the American people a chance to overcome the financial choke-hold of the New World Order. See the story and legislation below. But does the American people have the knowledge and willpower to demand a reshuffling of our economy and a cessation of the deprivations of the Federal Reserve System, which is not a federal government agency nor does it have any reserves.
THE NEW AMERICAN REVOLUTION: BREAK THE BANK
By Joan Veon
The New American
September 28, 2008
THIS IS A CALL TO ARMS – NOT WITH GUNS AND BULLETS – BUT WITH THE TELEPHONE, WITH EMAILS, WITH YOUR SACRED HONOR AND PERSONAL ASSETS.
In 1913, at 11:45 p.m., on the eve of Christmas, a group of powerful men came together to form a private corporation, designed to control the monetary system of our country. They moved with a calculated craftiness and deceit to pass legislation that would enslave every American as a debtor to their corporation.
To give you an idea as to where our country is with debt, as of September 2008, the U.S. federal debt totaled approximately $9.7T, or $31,700 per person. However when the unfunded liabilities such as Social Security, Medicare, and other social programs are added in, our total debt grows to $59.1T or $516,348 per household. In 2005, the total personal debt, consisting of mortgages and consumer loans was estimated at $11.4T, with total U.S. household assets, including real estate, totaling $62.5T. (Wikipedia, United States public debt). This leaves approximately a $3T difference between our liabilities and our assets.
Why it is Americans can’t forgive themselves the interest on the debt? We don’t owe it to “we the people,” we owe it to the Federal Reserve and to foreign governments in the form of U.S. Treasury bills, notes, and bonds. Currently the top four foreign owners of our debt include: Japan at $592.2B, China at $502B, United Kingdom at $251.4B, and oil exporters at $153.9B. Other countries include Brazil, Caribbean Banking Centers, Luxembourg, Hong Kong, Russia, Norway, Germany, Taiwan, and Switzerland.
We are told that there are a number of reasons for the financial crisis we are in today. One is the passage of the Home Ownership Equity Protection Act of 1994, whereby the Federal Reserve was given authority to issue regulations and interest rates over mortgages and home equity lending. As a result, its enactment led to a sharp increase in home equity lending accompanied by a sharp boost in the subprime mortgage market, from 80,000 subprime loans in 1993 to 790,000 by 1998. Another is the passage of the 1999 Gramm-Leach-Bliley Act, removing all the protection put in place following the 1929 stock market crash, which allowed foreign banks, brokerage firms, and insurance companies to buy American owned banks, brokerage firms and insurance companies. Additionally, this increased a risk to our economic system by easing regulations on monetary policy. The 45-year low interest rates in 2001-2002 to stimulate the economy following 9/11 exacerbated the stress on our economy.
In short, we have been set up! Laws were designed and passed to specifically get us into this position! We are the sheep, but our shepherd is not Moses, King David or the Great Shepherd. Now many of the career-congressmen who supported passage of the above laws are the same people who will push through legislation so they can recess to go home and campaign for re-election. Their misplaced priorities have created the emotionally charged environment under the threat to “get it done, now” by the Federal Reserve’s transfer agent, Treasury Secretary, Hank Paulson, investment banker extraordinaire.
Unless you know the chicanery of how the Federal Reserve Act was passed in 1913, unless you understand the central banking system that runs almost all the countries of the world and their history of manipulation, deceit, deception, and distortion, you will not be able to hear, see, and understand what is happening under your nose. In July, Congress gave Hank Paulson a blank check, with his promised that he would not use it unless he needed to. Congress went home for summer recess and Paulson found a reason to use it; rescue Fannie and Freddie to the tune of $5.3T.
What do you think is going to happen when they get the new Resolution Trust Corporation and their hands on the purse of America? We will have several days of peace in the market and then the pattern will start all over again because the next project is to pass the Treasury’s Blueprint For A Modernized Financial Regulatory System, The Blueprint is designed to transfer to the Federal Reserve, power over all savings and loans, credit unions, thrifts, state chartered banks, the entire insurance industry, mortgage industry, the U.S. Payment and Settlement System, and to make the Federal Reserve the Market Stability Regulator. Following this current round of volatility, we can expect more peaceful days in the market then, bang! The attack will shift to the personal savings, 401Ks, pension plans, and commercial mortgages. This is a complete restructuring of the American economy around the Federal Reserve. At this point, congress will be rendered powerless because they chose to “get it done fast” and voted away ALL of their power. As we go to press, the futures at 12 midnight are down 179 points-all because Congress did not agree on a bill on Thursday.
Let me give you an example of unbridled power. It is called “Market based Democracy.” It was at a Group of Seven Finance Ministers meeting in Florida that then Treasury Secretary John Snow used the phrase “market based democracy.” After doing a fair amount of research, I realized that Wall Street had transferred all tangibles into the bond, stock, commodities, or currency market. There is not one investment or asset that we own that cannot change in value due to markets, trends, or the power of the market. If you remember the Asian Currency Crisis, the currencies of five Asian countries fell to horrendous lows when they refused to sign on to the World Trade Organization Financial Services Agreement. To punish them, their currencies were sold. So much for thinking your savings and purchasing power were safe. The banks have made out like bandits. They have not retained ANY risk for the loans they make. If they make a mortgage, they can sell it on the secondary mortgage market and then that mortgage can be packaged into tranches and sold to investors worldwide; if you have an auto loan or credit card debt, it too can be sold to investors in the form of bonds; if you have certificates of deposit, they can be sold to money market funds or through brokerage firms, etc. What I am pointing out is that the system is already in place whereby the value of any asset can drop substantially and without warning because of market-based democracy. We have no control whatsoever.
Once the Federal Reserve is given unbridled power over all the valuables of America, like a pirate they will seize whatever they can, for whatever reason and we will have absolutely no recourse-that is unless YOU ARE WILLING TO STAKE YOUR SACRED FORTUNE FOR THE FREEDOM OF YOUR CHILDREN AND GRANDCHILDREN AND FOR THE PEOPLE AROUND THE WORLD WHO HAVE STOPPED LOOKING AT AMERICA FOR ANSWERS WHEN WE ARE THE PRIME REASON FOR THE PROBLEMS IN THE WORLD.
I PROPOSE THAT YOU DEMAND OF YOUR CONGRESSMEN AND SENATORS NOT TO VOTE FOR THE PROPOSED “BAILOUT” FOR FANNIE AND FREDDIE. LET THEM GO BELLY UP, LET THE STOCK MARKET DROP TO 3 FROM 11,000; LET THE TREASURIES GO BUST AS GOVERNMENTS AROUND THE WORLD GO BELLY UP FROM JAPAN, TO CHINA, TO THE UNITED KINGDOM, TO THE CARRIBEAN BANK CENTERS AND BRAZIL.
LET US BREAK THE HOLD AND BONDAGE THAT THE FEDERAL RESERVE HAS ON AMERICA! LET US DO WHAT WILSON, ROOSEVELT, TRUMAN, EISENHOWER, KENNEDY, JOHNSON, NIXON, FORD, CARTER, REAGAN, BUSH l, CLINTON, AND BUSH II have not done. LET US CALL FOR THE BREAKING OF THE FEDERAL RESERVE BY SAYING NO. We then absolve ourselves of the $51.9T which is owed to the Federal Reserve. What freedom. We will be dirt poor but we will have overcome a noose around the neck of every American citizen. This is really OUR MOMENT OF OPPORTUNITY TO SET AMERICA FREE FROM BONDAGE!!! Lastly, vote out your current Congressman or Senator if they vote for the proposed bailout.
If we fail in convincing our lawmakers, then after the Blueprint is passed we can expect a new currency, the Amero and a 50% devaluation of the dollar as it is merged with Canada, Mexico and other countries in this hemisphere. If that is not enough, the coming tax on services to pay for all the bailouts will add to our misery. Will you be able to afford or stay in your home then? It will be too late. Now is the time to BREAK THE BANK!
Ron Paul’s Federal Reserve
Abolition Act – HR 2755
If you agree, call your Congressman today…
Federal Reserve Board Abolition Act (Introduced in House)
HR 2755 IH
H. R. 2755
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
June 15, 2007
Mr. PAUL introduced the following bill; which was referred to the Committee on Financial Services
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act , and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Federal Reserve Board Abolition Act’ .
SEC. 2. FEDERAL RESERVE BOARD ABOLISHED.
(a) In General- Effective at the end of the 1-year period beginning on the date of the enactment of this Act , the Board of Governors of the Federal Reserve System and each Federal reserve bank are hereby abolished.
(b) Repeal of Federal Reserve Act – Effective at the end of the 1-year period beginning on the date of the enactment of this Act , the Federal Reserve Act is hereby repealed.
(c) Disposition of Affairs-
(1) MANAGEMENT DURING DISSOLUTION PERIOD- During the 1-year period referred to in subsection (a), the Chairman of the Board of Governors of the Federal Reserve System–
(A) shall, for the sole purpose of winding up the affairs of the Board of Governors of the Federal Reserve System and the Federal reserve banks–
(i) manage the employees of the Board and each such bank and provide for the payment of compensation and benefits of any such employee which accrue before the position of such employee is abolished; and
(ii) manage the assets and liabilities of the Board and each such bank until such assets and liabilities are liquidated or assumed by the Secretary of the Treasury in accordance with this subsection; and
(B) may take such other action as may be necessary, subject to the approval of the Secretary of the Treasury, to wind up the affairs of the Board and the Federal reserve banks.
(2) LIQUIDATION OF ASSETS-
(A) IN GENERAL- The Director of the Office of Management and Budget shall liquidate all assets of the Board and the Federal reserve banks in an orderly manner so as to achieve as expeditious a liquidation as may be practical while maximizing the return to the Treasury.
(B) TRANSFER TO TREASURY- After satisfying all claims against the Board and any Federal reserve bank which are accepted by the Director of the Office of Management and Budget and redeeming the stock of such banks, the net proceeds of the liquidation under subparagraph (A) shall be transferred to the Secretary of the Treasury and deposited in the General Fund of the Treasury.
(3) ASSUMPTION OF LIABILITIES- All outstanding liabilities of the Board of Governors of the Federal Reserve System and the Federal reserve banks at the time such entities are abolished, including any liability for retirement and other benefits for former officers and employees of the Board or any such bank in accordance with employee retirement and benefit programs of the Board and any such bank, shall become the liability of the Secretary of the Treasury and shall be paid from amounts deposited in the general fund pursuant to paragraph (2) which are hereby appropriated for such purpose until all such liabilities are satisfied.
(d) Report- At the end of the 18-month period beginning on the date of the enactment of this Act , the Secretary of the Treasury and the Director of the Office of Management and Budget shall submit a joint report to the Congress containing a detailed description of the actions taken to implement this Act and any actions or issues relating to such implementation that remain uncompleted or unresolved as of the date of the report.
H.R.2755 Title: To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes. Sponsor: Rep Paul, Ron [TX-14] (introduced 6/15/2007) Cosponsors (None) Latest Major Action: 6/15/2007 Referred to House committee. Status: Referred to the House Committee on Financial Services.