One of the world's leading economists said Wednesday that the very structure of the Federal Reserve system is so fraught with conflicts that it's "corrupt."
Nobel laureate Joseph Stiglitz, a former chief economist at the World Bank, said that if a country had applied for World Bank aid during his tenure, with a financial regulatory system similar to the Federal Reserve's -- in which regional Feds are partly governed by the very banks they're supposed to police -- it would have raised alarms.
"If we had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure," Stiglitz said during a conference on financial reform in New York. "It's time for us to reflect on our own structure today, and to say there are parts that can be improved."
More Here.
Errrrr, it takes a Nobel laureate to finally figure out the FED IS CORRUPT?? Where the hell has he been? Most that post on this board had that figured out years ago.
ReplyDelete4:44 He has not been hiding. He finally went down to his local Wal Mart store, went over to Isle 3 and brought himself a backbone. You see he has been spineless all of his adult life. We need more spineless a$$h#^% to step up to the plate
ReplyDeleteWe have to audit because we can't fix it when we are not allowed to know how it is broken. I have a feeling even the sheeple would riot in the streets if they new what is going on.
ReplyDeleteThe president needs to forget health care for 5 minutes and have the marines surround all of those freaking buildings and go in before they can delete documents and audit it. Stop the madness.
ReplyDelete7:15
ReplyDeleteFrom APFN
By Cedric X
11-20-3
Executive Order 1110 gave the US the ability to create its own money backed by silver. ...
http://www.john-f-kennedy.net/executiveorder11110.htm
On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.
With the stroke of a pen, Mr. Kennedy was on his way to putting the Federal Reserve Bank of New York out of business. If enough of these silver certificats were to come into circulation they would have eliminated the demand for Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. Executive Order 11110 could have prevented the national debt from reaching its current level, because it would have given the gevernment the ability to repay its debt without going to the Federal Reserve and being charged interest in order to create the new money. Executive Order 11110 gave the U.S. the ability to create its own money backed by silver.
After Mr. Kennedy was assassinated just five months later, no more silver certificates were issued. The Final Call has learned that the Executive Order was never repealed by any U.S. President through an Executive Order and is still valid. Why then has no president utilized it? Virtually all of the nearly $6 trillion in debt has been created since 1963, and if a U.S. president had utilized Executive Order 11110 the debt would be nowhere near the current level. Perhaps the assassination of JFK was a warning to future presidents who would think to eliminate the U.S. debt by eliminating the Federal Reserve's control over the creation of money. Mr. Kennedy challenged the government of money by challenging the two most successful vehicles that have ever been used to drive up debt - war and the creation of money by a privately-owned central bank. His efforts to have all troops out of Vietnam by 1965 and Executive Order 11110 would have severely cut into the profits and control of the New York banking establishment. As America's debt reaches unbearable levels and a conflict emerges in Bosnia that will further increase America's debt, one is force to ask, will President Clinton have the courage to consider utilizing Executive Order 11110 and, if so, is he willing to pay the ultimate price for doing so?
"It's time for us to reflect on our own structure today, and to say there are parts that can be improved."
ReplyDeleteLooks like he's talking shit because the Federal Reserve is to be replaced with the honest World Bank model????
ONE WORLD CENTRAL BANK to monitor all of us naughty Nation-States!!! He's another shrill for the NWO talking crap to push the financial world into their own agenda... Centralized banking for all.
Joseph Stiglitz, a former chief economist at the World Bank
ReplyDelete"It's time for us to reflect on our own structure today, and to say there are parts that can be improved."
Looks like he's talking shit because the Federal Reserve is to be replaced with the honest World Bank model????
ONE WORLD CENTRAL BANK to monitor all of us naughty Nation-States!!! He's another shrill for the NWO talking crap to push the financial world into their own agenda... Centralized banking for all.
The Federal Reserve owns the WORLD BANK, just change the name and voila!
ReplyDeleteya think?
ReplyDeleteAfter AIG got the bailout money and then started to write bonus checks and schedule corporate parties, the sheeple got pissed. Many AIG employees were scared to go to work. The Executives were asking cops to follow them home. I recall someone posted a list of the names and home addresses of these crooks.
ReplyDeleteI'd say it's time for common people to start scarring the crapola out of Big Ben and his merry men. This guy and Timmy G, should not be allowed to continue to do any more damage.
THE BANKS ARE GOING TO BANKRUPT EVERYONE AND BRING IN THEIR NEW WORLD GOVERNMENT AND NEW ELECTRONIC MONEY, THEY WILL HAVE A BANK HOLIDAY, RELEASE NO MONEY AND THEN DEVALUE THE CURRENCY BY HALF, THE ONLY WAY TO BEAT THIS IS TO BUY PHYSICAL GOLD, SILVER, PALLADIUM, PLATINUM, COPPER AND LEAD!
ReplyDelete