Saturday, September 20, 2008

The Treasury's latest scam to mug us is nothing new..

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If you've read the previous posting by Phaedrus below, you will probably - as a decent, hard-working, human being - not be acquainted with the fact that the government's purchase of irredeemable debt at OUR expense is in reality just a variation of an old fraud that was hugely popular for a while during the 1970s.

The scam worked like this...

It required someone placed in what is known in financial circles as the "back office" - these are the clerks that don't do any deals themselves, but keep the books in order and simply ship the securities for those that DO – the Big, Swinging Dicks who constitute the highly-paid hot-shots of the "front office" - the guys with two phones in each ear; a plethora of screens before them and the obligatory Ferrari parked out front.

The scam as it was then is no longer operable in quite the same form today. It was eventually rumbled, and stricter procedures were introduced to ensure it couldn't be worked again - not at employee level, anyway. The only victims of it, by the way, at THAT time, were the stockholders of the individual banks and investment brokerages directly concerned. It had no 'macro-adverse-effects' on the broader economy - nor even the banking sector.

In those far off days, it was permissible for a trader to execute different trades both for himself (as a perk of his job) AND (separately) for his employer, by maintaining two entirely SEPARATE account record books. The trader would enter his own, personal dealings records in one book, and his employer's (the bank's) dealings in another book solely for that purpose. In this way, the trader could follow his hunches and take positions with his OWN money along side of dealing for his firm with their money on their behalf.

Such was the dealing-room scene in those distant days. TRUST was granted without question as a matter of course (and had been for centuries). On the dealing floor of the London Stock Exchange, for example, they had a time-honored Latin maxim for it: "dictum meum pactum meum" - "my word is my bond" - and the whole show was operated around (and depended upon) a man's integrity and honesty to stick by every deal he made and never fail to deliver on time the purchase monies or the stock as appropriate. To accuse a dealer of wrongdoing or bad faith was an unforgivable slight on his character, if such could not be quickly proven beyond doubt.

This paper-based system was open to exploitation, not surprisingly, by the dishonest. These a-moral con-artists would keep the two sets of books as required, but neglect to fill in certain particulars at the time the deal was done – most importantly the contract dates - until AFTER it became clear whether the deal in question had turned a profit or not. Back then, unscrupulous traders had SEVERAL WEEKS in which to complete their books. If their deals came good, there was the temptation to accredit the bargain to the trader's PERSONAL account. On the other hand, if the deal turned out badly, the dealer could escape personal losses by marking the bad deal down to the bank's own account book. No supervisor ever made a day-by-day audit to check!

Young dealers today would marvel at the opportunities to make illicit profits if they knew how loosely things were run in the old days when TRUST was implicit and regulation and oversight virtually non-existent, nor even necessary when a man's word alone was so completely trusted.

So this classic malpractice has today become the model by which the plutocratic Jewish financiers (who discovered its weakness and ruthlessly exploited it) have shafted us into buying garbage 'assets.' The original scam is the inspiration and basic methodology behind what is being done to us right now. You are probably already seeing the light, but let me spell it out, anyway: the old scam has broadened: the individual rogue trader has become the bank or investment brokerage itself. The individual commercial bank has become the conglomerate, corrupt merchant bank, and the (collective bank) losses are now having to be borne by the taxpayer thanks to the illegal actions of a traitorous government which pathetically cries out, "it's the only way to stave off global economic collapse!"

In short, it is nothing new. The only difference is in its SCALE. This is the essence of Corporate Communism: it heaps financial losses onto the masses whilst keeping any gains for itself. We the People are the ultimate 'lender of last resort' through our tax contributions, NOT the Fed. There really is virtually no difference between the two forms of this old CON beyond the sheer SCALE it is now being worked. And as any reasoning person will surely accept, unchallenged thieves will only grow more emboldened until they finally wind up hanging themselves through their own naked greed and the inability to know when they have pushed people that bit too far. Jews have abused the trust that gentiles unwisely granted them when they began dealing with these vermin in the mid 1600s.
The question is, when are these blatant thefts from his pocket going to hurt Joe Public sufficiently to sting him into action? How much more can the Jews feasibly get away with??

4 comments:

Greg Bacon said...

Hey, I know!

Why don't we use all of that gold we have in Ft. Knox to pay off the con artists that are ransacking Wall and Main Street?

Just because that gold hasn't been audited by an independent, outside firm since the late 1950's doesn't mean it's not there, does it?

Or has it been shipped off to that SLC on the eastern shores of the Mediterranean, where it has been turned into trinkets and jewelry that is adorning hairy chests?

And also turned into money clips for the men.

Hungry America?

Congress, the Fed and the US Treasury hears your stomach growling and we've made a nice, fat shit sandwich for you to swallow.

Only we can't afford any bread for the sandwich.

Enjoy!!

Greg Bacon said...

How much of the 700 BILLION dollar slush fund given to the Treasury Department will wind up in Tel Aviv?

A slush fund that starts at 700 BILLION, and there's NO LIMIT.

Maybe this is the "Clean Break: Securing the Realm" scenario talked about where Israel gets some type of outside money to permanently prop up that racist and apartheid, Jews only state.

A document written by some of the same thugs that lied the US into the Iraq War.

Thugs like, David Wurmser, Doug Feith and Richard Perle.

The Clean Break document here, says that "...[financial] self-reliance will grant Israel greater freedom of action and remove a significant lever of pressure used against it in the past."

In other words, if Israel was able to secure a line of financing independent of the US Congress, where occasionally, embarrassing questions about Israel's brutal ethnic cleansing campaign against the Palestinians and the Lebanese get asked, then with that independent financing, Israel could murder and steal to it's hearts content.

Congress is being asked and told to hurry, hurry, hurry, push this thru NOW, don't ask any questions, especially about the part that will give US money to foreign interests, as shown here

Why?

Is it because one or more of those foreign interest are banks in Tel Aviv or banks directly related to Israel? And why does this whole bill sound like a "Get out of Jail" free card to the con artists and hustlers who helped tank the US economy to begin with?

This is equivalent to seeing a thief ransacking your house and pointing out to him where your kid's piggybank is located.

If this whole damned deal is such a good thing, then why this portion?

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

They've already changed the provisons several times, how many more changes before this load of manure gets shoveled down our throats?

The legislative outline that went to Capitol Hill at 1:30 a.m. Saturday had said that an eligible financial institution had to have “its headquarters in the United States.” That would exclude foreign-based institutions with big U.S. operations, such as Barclays, Credit Suisse, Deutsche Bank, HSBC, Royal Bank of Scotland and UBS.

But a Treasury “Fact Sheet” released at 7:15 Saturday night sought to give the administration more flexibility, with an expanded definition that could include all of those banks: “Participating financial institutions must have significant operations in the U.S., unless the Secretary makes a determination, in consultation with the Chairman of the Federal Reserve, that broader eligibility is necessary to effectively stabilize financial markets.”


From the always on the ball blog at American Everyman

***UPDATE*** It’s interesting that CBS is trying to sell this plan to it’s viewers as “the Lesser of Two Evils” quoting “some sources say…”. This article doesn’t mention the fact that the $700 billion isn’t an overall price, just a cap on how much can be outstanding at one time, meaning it will be much more in overall cost to the taxpayers. Nor do they mention the complete and unchallengeable control that one person would have over that immense sum of money. Instead they just parrot the usual cliche that people are expected to buy these days when having to suck-it-up and accept something they don’t really want; “the lesser of two evils“. I certainly hope you “progressive” sites out there take note.

Within the $700 billion dollar Bailout Bill, there lies some very interesting clauses. The most striking of which is Section 8

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