Ellen Brown: Fed’s Dramatic About-Face [Robert Steele: Nationalize the Fed, Announce a $3 Trillion Domestic Debt Jubilee, & Carry On…]

03 Economy, 09 Justice, 10 Transnational Crime, 11 Society, Commerce, Corruption, Ethics, Government
Ellen Brown

The Fed’s Dramatic About-Face

The Fed is realizing that it cannot bring its balance sheet back to “normal.” It must keep pumping new money into the banking system to avoid a recession.

Extracts, Comment, Links below the fold.

Loans create deposits, and deposits make up the bulk of the money supply. Money today is created by banks as a debt on their balance sheets, and more is always owed back than was created, since the interest claimed by the banks is not created in the original loan. Debt thus grows faster than the money supply.

However, the money created through QE to date has not gone to the consuming public, where it must go to fill this gap. Rather, it has gone to the banks, which have funneled it into the speculative financialized markets. Nomi Prins calls this “dark money”—the trillions of dollars flowing yearly in and around global stock, bond and derivatives markets generated by central banks when they electronically fabricate money by buying bonds and stocks.

In antiquity, as professor Michael Hudson observes, debts were routinely forgiven when a new ruler took the throne. The rulers and their advisers knew that debt at interest grew faster than the money supply, and that debt relief was necessary to avoid economic collapse from an overwhelming debt overhang. Economic growth is arithmetic and can’t keep up with the exponential growth of debt growing at compound interest.

A regular injection of money into personal bank accounts has been called a “universal basic income,” but it would be better to call it a “national dividend”—something all citizens are entitled to equally, without regard to economic status or ability to work. It would serve as a safety net for people living paycheck to paycheck, but the larger purpose would be as economic policy to stimulate demand and productivity to keep the wheels of industry turning.

Read full article.

Robert David STEELE Vivas

ROBERT STEELE:  I hold Ellen Brown (and Wayne Jett and Edgar Feige) in the very highest regard. She appears loath to deal directly with the fact that the Federal Reserve is the thief-in-chief against the American economy, and must be nationalized.  This is not negotiable as we go into the next Presidential election cycle. Nor is the recovery of the $43 trillion (including accumulated interest) stolen from the US economy by the Fed and its banksters negotiable. The work of Professor Mark Skidmore and his team at Michigan State University in finding $21 trillion (now up to $43 trillion including interest) is worthy of a Presidential Medal of Freedom.

Although I have no direct access I believe that President Trump is about to pump a trillion dollars into the US economy through agents that have been in training and number between 5,000 and 10,000. This is not the basic income or “national dividend” (an idea I like very much) that Ellen refers to but it should have a salutory effect if combined with:

01 Nationalization of the Federal Reserve

02 $3 trillion debt jubilee (student debt, elderly health debt, small business and family credit card debt.

If I were President I would also be nationalizing health and life insurance to include long-term disability care.  The insurance industry is a scam — a cash cow that is a variation on the lottery that strips money from the poor without giving back in full for the simple reason that most people end up either not needing the coverage or they stop payments and lose all the “equity” they have in the insurance program.

We may or may not see a gold-backed dollar but I believe we will.  I have been asked repeatedly where the gold is to be found.  I will now answer that for the first time.

01 We are on the trail of the trillions in gold that GHW Bush and Dick Cheney stole from the Philippines and elsewhere, some of it buried in Wyoming and Montana, and when that gold is re-captured, it will make a difference.

02 In combination, the indigenous Elders and the Asian and Russian hereditary families, appear ready to blow the whistle on the banks and their fake set of books.  The gold-based accounts appear to have been frozen some years ago – the banks lost the ability to move true gold-backed money around — so they create a fake set of books that pretended they still had access to the codes and carried on.  This is under investigation. I expect it to “pop” by Monday 1 April 2019, the same day the truth channel opens for business, and this will be the lead story.  Watch for a spike in banking leader suicides. The gold is still in the caches in Korea, Indonesia, and the Philippines (less  what was stolen by the USA or recovered by China through various “mining exploration missions” and this gold is NOT under the control of the Central Banks.

Somewhere in here the President is going to have to come to grips with the fact that under GHW Bush (January 1976-January 1977) elements of the CIA were turned into a global criminal network that have since far out-paced the drug-running, gun-smuggling, and money-laundering CIA of the Viet-Nam era.  I believe Professor Peter Dale Scott is absolutely correct in his speculative but informed judgment that the Continuity of Government (COG) program has been turned into the backbone of the Shadow Government that underlies the Deep State (and uses NSA, CIA, and the FBI to bribe and blackmail Members of Congress and the media as well as judges and prosecutors and governors and so on). I believe that Dick Cheney, as Secretary of Defense and then as Vice President, has created a global crime network that uses all of our military bases as lily pads for the smuggling of drugs, guns, gold, cash, and small children. I consider it imperative that the President reduce the secret intelligence  community by up to 70% while closing all our bases overseas and also doing a serious audit on all the offshore bank accounts.  He cannot do that without unleashing Bill Binney’s Thin Thread into every financial account in America going back 20 years.

We have the data.  We lack the integrity.

See Especially:

Review: Gold Warriors–America’s Secret Recovery of Yamashita’s Gold UPDATE to Add Links to CDs

Review: Edward Lansdale’s Cold War (Culture, Politics, and the Cold War) (Paperback)

Review: The Devil’s Chessboard – Allen Dulles, the CIA, and the Rise of America’s Secret Government

Review: The Fruits of Graft

Review: Griftopia–Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

Fred Burks: Memorandum for the President: Evidence 9/11 Used to Launder $240 Billion in Covert Securities in a Covert Economic War (Gold War) Against Russia

Yoda: The Secret Gold Treaty – How the Cabal Got It All….

Is Our Government Intentionally Hiding $21 Trillion In Spending?

MSU scholars find $21 trillion in unauthorized government spending; Defense Department to conduct first-ever audit

The Automated Payment Transaction Tax

Balanced Budget And Comprehensive Tax Reform Made Simple ? The Automated Payment Transaction Tax

Robert Steele: Meet Judy Shelton, Trump Advisor on Gold-Backed Dollar UPDATE 1: Trump On the Record / Global Currency Reset

William Binney: Thin Thread – Signals Intelligence Within the Rule of Law

Robert Steele: Concept for a Post-Western Economic and Engineering Paradigm — How Putin-Modi and Xi-Trump Can Save Humanity with Open Source Everything Engineering (OSEE)

See Also:

APT Tax @ Phi Beta Iota

Debt @ Phi Beta Iota

Deep State @ Phi Beta Iota

Federal Reserve @ Phi Beta Iota

Gold @ Phi Beta Iota

Gold War @ Phi Beta Iota

Rothschild @ Phi Beta Iota

Vatican @ Phi Beta Iota

Wall Street @ Phi Beta Iota