Can Kucinich Drive A Stake Through the Zombie Heart of the Fed? (Part 1-Return to Jekyll Island)
Stop talking about Kucinich and the olive pit. Forget about the ride on Air Force One.
Kucinich has positioned himself to plunge a stake through the zombie heart of the arch enemy of American well being, The Federal Reserve Bank.
WE HAVE GOT TO HELP HIM AND PAY ATTENTION. The Bank Mafia of America has captured the minds, hearts and souls of almost all of our amoral leadership in the administration and Congress who have to a grotesque degree stopped watchdogging our rights and needs for a stunning amount of time now.
Abandon all hope that Obama or the legacy Democratic Party will rally to save Americans from economic terrorism. In fact, trust that they will rally to enable the economic terrorists.
We’ve got Dennis Kucinich. We’ve got Ron Paul. We’ve got the Green Party. We’ve got those citizens finally rising above the media-inflaming Blue v. Red, divide-up-and-conquer hype that is earnestly trying to distract America from its economic raping, from facing down the real enemy of Americans, the oligarchs.
I made up a riddle the other day. What’s the difference between a Republican and a Democratic politician? Answer: Whether the knife goes into your front or your back.
Kucinich’s bill, H.R. 2424, resonates Green Party values. It would bring sanity and wholesome, citizen-nurturing solvency to America. It requires our massive support and attention right now.
Ralph Nader asked the bottom line ultra-sensible question about the insurance industry capture of America during Obama’s, Congress’s and the media’s magnificent health care betrayal kabuki last year. Why are the “vendors” allowed to create the terms of American healthcare, terms that have destroyed, are destroying and will continue to destroy the well-being of most Americans?
Banks should also be providing a very much humbler role as “vendors” but are another cabal of profit-over-people monsters impacting more and more people with, again, let’s call it what it is, ECONOMIC TERRORISM.
At a Manhattan Greens forum last Wednesday, guest speaker Sue Peters laid out the incredible and enraging history of how a tiny but obscenely wealthy crew of the bankster mafia in America in 1910 managed to successfully capture the monetary system of America right under the clueless noses of the public.
Consider this quote shared by Ms. Peters:
"Whoever controls the volume of money in our country is absolute master of all industry and commerce...when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." — James A. Garfield
According to Ms. Peters and some further revelations from Wikipedia, in November 1910, 7 men, a senator (majority leader of the Senate, Nelson Aldrich) and the assistant Secretary of the Treasury Dept. (A. Piatt Andrew) along with 5 of the countries’ leading financiers who represented 1/4 of the world’s wealth arrived at the “Jekyll Island Club” on Jekyll Island off of Georgia ("jackal" would be more appropriate in hindsight) to discuss the American banking system and monetary policy. This meeting would draw up the blueprint for the Federal Reserve System. The creation of a U.S. central bank. Senator Aldrich’s participation guaranteed that parts of the draft would be DIRECTLY incorporated into the 1913 Federal Reserve Act.
Wikipedia, btw, also reveals that Ben Bernanke stayed on Jekyll Island last year for two days in November, the same month of the original plotting, to commemorate the 100th year anniversary of that fateful meeting.
Forbes magazine founder Bertie Charles Forbes wrote:
Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written... The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York's ubiquitous reporters had been foiled... Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry... Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality.
The meeting had to be clandestine since the mood of people, in fact, internationally, was anti-bank, anti-Wall Street, especially after the Panic of 1907. It was vital for the banksters to devise a highly slick program to seduce a country of citizens mandating quite the opposite of their scheme, that Congress shore up the checks and balances system in terms of the economy. Checks and balances? The banksters willed to dismantle them entirely and deliver the monetary system entirely into their unscrupulous, forever-profits-over-people control.
And so it happened. The same banker-prepared bank plan was presented to Congress by the head of the National Monetary Commission, Senator Aldrich.
This is yet another chapter beyond the Thomas Jefferson and Alexander Hamilton scenario. The power struggle between a citizens’ republic and a banking oligarchy.
Again, the public wanted sane and equitable monetary reform. What did Congress give them? Full out capture by the banksters and pretended it was reform. Sound familiar? The right to private ownership of the national treasury. Hello? Private individuals who thereafter controlled the nation’s money and credit. It was unconstitutional but, hey, look at the allergic to accountability, legality and all that is constitutional Obama administration.
Back then some very serious, resourceful, brave and noble farmer and small business populists fought hard against the travesty, but with a captured Congress and an obtuse and/or passive citizenry, what was to be done?
So the proverbial songs and dances of disinformation happened back then, similar to the ones now. They confused America and allowed Congress to totally defy the mandate of the people.
First, the pretense that the Federal Reserve Bank was to be controlled by Congress, even though the directors were to be chosen by the bankers at least indirectly under the auspices of the executive branch NOT the Congress. The “Federal Advisory Council” would then be chosen by the appointed directors of the 12 Federal Reserve Banks and these council members would remain UNKNOWN to the American people.
A second stage in the song and dance routine was to set up the pretense that the banking system was multi-branched and sole domination would not come from the New York cabal of bankers alone. Appearance vs. reality. Farmers, small businesses, their needs and the needs of other regions of the countries would not ever be a priority. The needs of the Eastern gated-community elite would always prevail. Class war it was and still is.
It is time to restore the American monetary system to its original and legitimate form. Ms. Peters reminded us that when Canada restructured their banking system for the citizenry not the profiteers, universal health care became a natural reality. Universal health care, in shameful, hold out America, is never going to happen with its present, debilitating debt-based economy.
A lot of other restorative things won’t happen here and a lot of worsening things will until the Bank Mafia is defeated and the banking industry is returned to limited and legitimate vendorship and not racketeering.
Kucinich has the answer -- THE RESCUE -- all typed up and entered into Congress. But we know what happened to Ron Paul’s efforts on this score, to disempower the Fed. If we don’t cover Kucinich’s back and DEMAND the legitimate return of the US monetary system to the control of a Congress serving the citizenry and not corporatist pirates, and that will take massive vigilance on our parts, we are dooming our country and future generations to third world serfdom to oligarchs.
The amiable Obama mouthing double-sided song and dance bipartisanship bullshit is desperately trying to keep the economy from foundational recovery as is most of Congress, beholding to the avaricious banksters. I agree with Glen Ford of Black Agenda Report. Obama is an “inside man” for the oligarchy. Some believe he is not that intentionally craven. Okay, maybe Obama with the corporatist elite is more like one of those doomed, delusional love addicts who believes it is possible to get “love from a psychopath.” Whatever. It still dooms us, doesn’t it? Chris Floyd christens Obama the “Continuer in Chief”. Absolutely! Where’s the change? Obama is the king of “shining on” the citizenry. And unbelievably too many keep showing up for another game of Lucy and the football. He talks about “puddles in heaven,” science fairs and a faster internet as the country descends into a quicksand of profound and multiple crises.
The citizenry is confused and betrayed by him and the disinformation campaigns of both legacy parties and the pimped out media continuously guaranteeing that Americans won’t recognize who the true villains are to their own demise. The pragmatic faux-progressives stridently battle fellow victims of the banksters. And then there are the fools who tilt at the non-malignant windmills of a non-existent specter of socialism. All this as soft fascism keeps on hardening in America. It would all be laughable if it weren’t so Orwellianly tragic.
The Kucinich bill could pull America out of its quicksand if we could collectively grasp it, literally and figuratively. Can we? What kind of a tipping point do we need? What kind of a “bottom” must America plunge to until it wakes up and acknowledges the enormous dysfunction of its governance. We can’t rely on a Congress to do the right thing by us on its own.
Robert Malin writes about Dennis Kucinich and his bill:
“As the nation struggles with long-term unemployment at rates not seen in generations, contracted credit and the hoarding of public dollars by the banks, Congressman Kucinich (D-OH) today introduced a dramatic new proposal to establish fiscal integrity, reassert Congressional sovereignty and regain control of monetary policy from private banks. The National Emergency Employment Defense Act of 2010 would allow the federal government to directly fund badly-needed infrastructure repairs and fund education systems nationwide by spending money into circulation without increasing the national debt. The bill would end the current practice of fractional reserve lending, whereby the economy depends upon private financial institutions to lend money into circulation.
Congressman Kucinich stated, “The staggeringly bad employment and economic numbers represent a massive problem which cries out for bold action. Rather than crossing our fingers and hoping that banks will finally lend some of the billions of public dollars they haven’t thus far seen fit to lend, we can take action. My bill would replace the Federal Reserve System’s dependence on private banks to create credit. In its place, a Monetary Authority under the Treasury Department would directly inject liquidity into the economy by purchasing much needed public infrastructure repair. Today, we have idle capital, millions of able-bodied but unemployed workers, unused equipment, and record low interest rates. These conditions are the best possible time to make a long-term investment in our nation’s infrastructure. My bill would do exactly that.”
This is was part of a Kucinich press release about the Federal Reserve Bank in May of 2009:
"The Federal Reserve has been operating in a governmental netherworld, free from scrutiny or oversight. We know the Fed has printed and loaned trillions of dollars, but we don't know where the money went. This bill will finally provide some transparency," said Kucinich."
"Traditionally the Federal Reserve has limited itself to setting the federal funds rate target (the overnight interest rate that banks charge each other) by purchasing government securities. Since August 2007, the Fed has drastically expanded its role in our economic stability by enacting programs to print and lend trillions of dollars directly into the economy."
"Despite the fact that the Fed's actions are a centerpiece of our nation's response to our economic recovery, we know almost nothing about how the Federal Reserve has addressed the crisis. It's time investors and taxpayers obtained a clear picture," added Kucinich.
The Fed has enacted several new programs to address the financial system's crisis including the Term Asset-Backed Securities Loan Facility (TALF), the Mortgage Backed Securities Purchase Program, and a number of other emergency lending programs that are not subject to Congressional oversight.”
Robert Malin does an excellent job explaining Kucinich’s Bill to Restructure the Federal Reserve.
“Dennis Kucinich has prepared a bill that will return control of the monetary system to Congress as it is clearly stated in the constitution. This presents an opportunity for Libertarians led by Ron Paul to get "Constitutionalists" on board with the Progressive Caucus to end the mismanagement of our currency by a banking monopoly, and to reinvest that money into America to repair the damage that the the "Federal Reserve" has done to the economy. We need to move away from a debt based monetary system.”
From the bill:
17) The authority to create money is a sovereign power vested in the Congress under Article I, Section 8 of the Constitution.
(18) The enactment of the Federal Reserve Act in 1913 by Congress effectively delegated the sovereign power to create money, to the Federal Reserve system and private financial industry.
(19) This ceding of Constitutional power has contributed materially to a multitude of monetary and financial afflictions, including—
(A) growing and unreasonable concentration of wealth;
(B) unbridled expansion of national debt, both public and private;
(C) excessive reliance on taxation of citizens for raising public revenues;
(D) inflation of the currency;
(E) drastic increases in the cost of public infrastructure investments;
(F) record levels of unemployment and underemployment; and
(G) persistent erosion of the ability of Congress to exercise its Constitutional responsibilities to provide resources for the general welfare of all the American people.
Malin quoting Kucinich:
“Banks pyramided their value by spending money into existence, greatly inflating the value of bank holdings, inflating the value of their asset bases, enticing unknowing investors to participate in financing schemes like the bundling of subprime mortgages, and ultimately bringing undercapitalized banks and the entire financial system to the edge of ruin, creating circumstances where the taxpayers of the United States were called upon to save the banks from their own imprudent money-issuing practices, misspending and mis-investments. The banks’ ability to create money out of nothing ultimately became the taxpayers’ liability, and raises a fundamental question about a practice of money creation which threatens the wealth of the American people.”
End of Part 1 of 2