- Jul 2, 2003
Hodee, this is a fascinating post, with all its frightening implications. And KPITRL, your experience is very illustrative of how morally bankrupt our economic system is.
Frankly, I don't know diddly about finance, which may be why I am not financially "sound," as we like to say. Of course, I've never wanted to be wealthy. And guess what? I'm not.
Global Research based in Montreal, Canada, is one of my favored alternative news sources. In one, Ellen Brown writes how "The Global Banking Game Is Rigged." I thought I had saved another of her articles where she questions whether the private banking cartels are even Constitutional.
A separate article on Global Research asks, "Did the Federal Reserve Launder $141 Billion Dollars Through Belgium to Hide a Massive Increase in Quantitative Easing." Hell, I don't even know what quantitative easing is? But it refers to Former Reagan Assistant Treasury Secretary and Wall Street Journal Editor Paul Craig Roberts who asserts the Fed taking covert action to hide a massive dumping of US bonds.
From that Global Research report:
From November 2013 through January 2014 Belgium with a GDP of $480 billion purchased $141.2 billion of US Treasury bonds. Somehow Belgium came up with enough money to allocate during a 3-month period 29 percent of its annual GDP to the purchase of US Treasury bonds.
Certainly Belgium did not have a budget surplus of $141.2 billion. Was Belgium running a trade surplus during a 3-month period equal to 29 percent of Belgium GDP?
No, Belgium’s trade and current accounts are in deficit.
Did Belgium’s central bank print $141.2 billion worth of euros in order to make the purchase?
No, Belgium is a member of the euro system, and its central bank cannot increase the money supply.
So where did the $141.2 billion come from?
There is only one source. The money came from the US Federal Reserve, and the purchase was laundered through Belgium in order to hide the fact that actual Federal Reserve bond purchases during November 2013 through January 2014 were $112 billion per month.
In other words, during those 3 months there was a sharp rise in bond purchases by the Fed. The Fed’s actual bond purchases for those three months are $27 billion per month above the original $85 billion monthly purchase and $47 billion above the official $65 billion monthly purchase at that time.
Why did the Federal Reserve have to purchase so many bonds above the announced amounts and why did the Fed have to launder and hide the purchase?
Some country or countries, unknown at this time, for reasons we do not know dumped $104 billion in Treasuries in one week.
The implications are frighting. Interesting is this was written in 1837 and it has all of the corrupt elements and warnings contained in his speech playing out.