by Paul Craig Roberts

The election of Republican Scott Brown to the U.S. Senate by Democratic voters in Massachusetts sends President Obama a message. Voters perceive that Obama’s administration has morphed into a Bush-Cheney government. Obama has reneged on every promise he made, from ending wars, to closing Gitmo, to providing health care for Americans, to curtailing the domestic police state, to putting the interests of dispossessed Americans ahead of the interests of the rich banksters who robbed Americans of their homes and pensions.

But what can Obama do other then spout more rhetoric?

The Democrats were destroyed as an independent party by jobs offshoring and so-called free trade agreements such as NAFTA. The effect of”globalism” has been to destroy the industrial and manufacturing unions, thus leaving the Democrats without a power base and source of funding.

Obama and the Democrats cannot be an opposition party, because Democrats are as dependent as Republicans on corporate interest groups for campaign funding.

The Democrats have to support war and the police state if they want funding from the military/security complex. They have to make the health care bill into a subsidy for private insurance if they want funding from the insurance companies. They have to abandon the American people for the rich banksters if they want funding from the financial lobby.

Now that the five Republicans on the Supreme Court have overturned decades of U.S. law and given corporations the ability to buy every American election, Democrats and Republicans can be nothing but pawns for a plutocracy.

Most Americans are hard pressed, but the corporations have only begun to milk them.

Wars are too profitable for the armaments industry to ever end. High unemployment is now a permanent state in the U.S., thus coercing job seekers into military service.

The security industry profits from the police state and regards civil liberties as a hindrance to profits. By announcing that he intends to continue the Bush policy of indefinite detention, a violation of the Constitution and U.S. legal procedures, Obama has granted the Democratic Party’s consent to the Republicans’ destruction of habeas corpus, the main bastion of individual liberty.

Jobs offshoring is too profitable for U.S. corporations for Obama to be able to save American jobs and restart the broken economy.

Americans are being squeezed out of health care not only by the loss of job benefits, but also by corporate takeover of medical practice from physicians. Today medical doctors are wage slaves of corporate health providers that leverage doctors by turning them into supervisors of physician assistants, lower-paid people without medical degrees who perform the services that doctors once provided. As neither doctor nor physician assistant has any independence, there is no one to represent the patient’s care against the profits of the corporation.

Even environmental concerns are being used to create ”cap and trade” rights to buy and sell the ability to pollute. Wall Street is licking its lips over a new source of leveraged derivative instruments.

The American public cannot even get reliable information about their plight as the ”MainStream Media” has been concentrated into a few corporate hands that do not permit independent reporting. The media is as dependent on corporate money as are politicians.

How can President Obama restart an economy that has been moved offshore? Millions of manufacturing jobs are gone, as are millions of jobs for college graduates, such as software engineering, Information Technology–indeed, any intellectual skill the product of which can be conveyed via the Internet. Even those intellectual skill jobs that do remain in the U.S. are filled increasingly by foreigners brought in on work visas.

The wipeout of blue collar and middle class job growth has stopped the growth of American incomes except, of course, those of the super rich. For a decade American consumers substituted increased personal indebtedness for income growth. In order to maintain and to increase their consumption, Americans consumed their assets, such as their home equity. Americans reached their maximum debt load just as the real estate bubble burst and just as the banksters highly-leveraged, toxic financial instruments brought down the stock market and the values of Americans’ pensions.

The enormous damage done to the U.S. economy by jobs offshoring, work visas, and financial deregulation cannot be offset by government stimulus plans, which expand the debt burdens that are crushing Americans. The federal government’s massive budget deficits and the Federal Reserve’s easy monetary policy are setting the stage for an inflationary depression to follow a deflationary depression.

The Federal Reserve chairman says not to worry about inflation, because the Fed can take the money back out of the economy. But can the Fed take the money out without contracting the economy?

The Federal Reserve says not to worry about financing the federal budget deficit. Banksters are buying the Treasury bonds with the proceeds from their sales of their toxic derivatives to the Fed.

So what is happening to the Federal Reserve’s balance sheet? And when will the Fed have no recourse but to print new money in order to finance the federal deficit?

How long can the dollar retain its reserve currency role in such circumstances, and how does the U.S. pay for its imports when this role is lost?

Don’t look to Washington for answers to these questions.

by RBN

“Money is Power”, or shall we say, “The Monopoly to Create Credit Money and charge interest is Absolute Power”. (Alex James)

Amsel (Amschel) Bauer Mayer Rothschild, 1838:

“Let me issue and control a Nation’s money and I care not who makes its laws”.

Letter written from London by the Rothschilds to their New York agents introducing their banking method into America: “The few who can understand the system will be either so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while, on the other hand, that great body of people, mentally incapable of comprehending the tremendous advantage that Capital derives from the system, will bear its burden without complaint and, perhaps, without even suspecting that the system is inimical to their interests.”

Nathan Rothschild said to the Commons Secret Committee on the question early in 1819: “In what line of business are you? – Mostly in the foreign banking line. “Have the goodness to state to the Committee in detail, what you conceive would be the consequence of an obligation imposed upon the Bank [of England, which he owned] to resume cash payments at the expiration of a year from the present time? – I do not think it can be done without very great distress to this country; it would do a great deal of mischief; we may not actually know ourselves what mischief it might cause. “Have the goodness to explain the nature of the mischief, and in what way it would be produced? – Money will be so very scarce, every article in this country will fall to such an enormous extent, that many persons will be ruined.”

The director of the Prussian Treasury wrote on a visit to London that Nathan Rothschild had as early as 1817: “.., incredible influence upon all financial affairs here in London. It is widely stated.., that he entirely regulates the rate of exchange in the City. His power as a banker is enormous”.

Austrian Prince Mettemich’s secretary wrote of the Rothschilds, as early as 1818, that: “… they are the richest people in Europe.”

Referring to James Rothschild, the poet Heinrich Heine said: “Money is the god of our times, and Rothschild is his prophet.”

James Rothschild built his fabulous mansion, called Ferrilres, 19 miles north-east of Paris. Wilhelm I, on first seeing it, exclaimed: “Kings couldn’t afford this. It could only belong to a Rothschild!”

Author Frederic Morton wrote that the Rothschilds had: “conquered the World more thoroughly, more cunningly, and much more lastingly than all the Caesars before…”

As Napoleon pointed out: “Terrorism, War & Bankruptcy are caused by the privatization of money, issued as a debt and compounded by interest “- he cancelled debt and interest in France – hence the Battle of Waterloo.

Some writers have claimed that Nathan Rothschild “warned that the United States would find itself involved in a most disastrous war if the bank’s charter were not renewed.” (do you see the similarities here? If you don’t play the game an economic disaster will fall on you and you will be destroyed.)

“There is but one power in Europe and that is Rothschild.” 19th century French commentator.

Lord Rothschild (Rockefellers and Rothschilds’ relatives) in his book The Shadow of a Great Man quotes a letter sent from Davidson on June 24, 1814 to Nathan Rothschild, “As long as a house is like yours, and as long as you work together with your brothers, not a house in the world will be able to compete with you, to cause you harm or to take advantage of you, for together you can undertake and perform more than any house in the world.” The closeness of the Rothschild brothers is seen in a letter from Soloman (Salmon) Rothschild to his brother Nathan on Feb. 28, 1815, “We are like the mechanism of a watch: each part is essential.” (2) This closeness is further seen in that of the 18 marriages made by Mayer Amschel Rothschild’s grandchildren – 16 were contracted between first cousins.

“Centralisation of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” The Communist Manifesto. In the case of the Bolshevik revolution, Rothschilds/ Rockefellers’ Chase Bank owned the state. In the US, the FED owners “own” the state.

Rothschilds’ favorite saying who along with the Rockefellers are the major Illuminati Banking Dynasties: “Who controls the issuance of money controls the government!”

Nathan Rothschild said (1777-1836): “I care not what puppet is placed on the throne of England to rule the Empire. The man who controls Britain’s money supply controls the British Empire and I control the British money supply.”

Rockefeller is reported to have said: “Competition is a sin”. “Own nothing. Control everything”. Because he wants to centralize control of everything and enslave us all, i.e. the modern Nimrod or Pharaoh.

The Rothschild were behind the colonization and occupations of India and the Rothschild owned British Petroleum was granted unlimited rights to all offshore Indian oil, which is still valid till this day.

“Give me the control of the credit of a nation, and I care not who makes the laws.” The famous boastful statement of Nathaniel Meyer Rothschild, speaking to a group of international bankers, 1912: “The few who could understand the system (cheque, money, credits) will either be so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The boastful statement by Rothschild Bros. of London.

These people are the top masterminds and conspired for the creation of illegal FEDERAL RESERVE BANK in 1913: Theodore Roosevelt, Paul Warburg – Representative Of Rothschild, Woodrow Wilson – U.S. President Signed FED Into Act, Nelson W. Aldrich – Representative Of Rockefeller, Benjamin Strong – Representative Of Rockefeller, Frank A. Vanderlip – Representative Of Rockefeller, John D. Rockefeller – Rockefeller Himself, Henry Davison – Representative Of J. P. Morgan, Charles Norton – Representative Of J. P. Morgan.

In the last century, members of the British Fabian Society dynastic banking families in the City of London financed the Communist takeover of Russia. Trotsky in his biography refers to some of the loans from these British financiers going back as far as 1907. By 1917 the major subsidies and funding for the Bolshevik Revolution were co-ordinated and arranged by Sir George Buchanan and Lord Alfred Milner. [no doubt using money from Cecil Rhodes' South African gold and diamond legacy - Ed] The Communist system in Russia was a “British experiment” designed ultimately to become the Fabian Socialist model for the British takeover of the World through the UN and EU. The British plan to takeover the World and bring in a “New World Order” began with the teachings of John Ruskin and Cecil Rhodes at Oxford University. Rhodes in one of his wills in 1877 left his vast fortune to Lord Nathan Rothschild as trustee to set up the Rhodes Scholarship Program at Oxford to indoctrinate promising young graduates for the purpose, and also establish a secret society [Royal Institute of International Affairs RIIA, which branched into the Round Table, the Bilderbergers, the CFR, the Trilateral, etc -- Ed] for leading business and banking leaders around the World who would work for the City to bring in their Socialist World government.

Rothschild appointed Lord Alfred Milner to implement the plan.

Benjamin Freedman (Friedman) said this in 1961, Washington (he was a millionaire insider in international Zionist organizations, friend to 4 US presidents, and was also part of the 117-man strong Zionist delegation at the signing of the Treaty of Versailles in 1919 where Germany was forced into bankruptcy to the Zionist BankLords and social chaos): “Two years into WW1, Germany, which was then winning the war, offered Britain and France a negotiated peace deal, but German Zionist groups seeing the opportunity made a deal with Britain to get the United States into the war if Britain promised to give the Zionists Palestine.”

In other words, they made this deal: “We will get the United States into this war as your ally. The price you must pay us is Palestine after you have won the war and defeated Germany, Austria-Hungary, and Turkey.” They made that promise, in October of 1916. And shortly after that — I don’t know how many here remember it — the United States, which was almost totally pro-German because the newspapers and mass communications media here were controlled by the Zionist bankers who owned the major commercial banks and the 12 Federal Reserve Banks (the original Stockholders of the Federal Reserve Banks in 1913 were the Rockefeller’ s, JP Morgan, Rothschild’s, Lazard Freres, Schoellkopf, Kuhn-Loeb, Warburgs, Lehman Brothers and Goldman Sachs, all with roots in Germany’s Zionists like the British Royal family, J.P. Morgan, Carnegie, Bush, Rumsfeld, Clintons, the Nazis that were brought into the CIA, etc. http://land.netonecom.net/tlp/ref/federal_reserve.shtml ) and they were pro-German because they wanted to use Germany to destroy the Czar of Russia and let the Communists whom they funded take over. The German Zionist bankers — Rothschilds, Rockefeller, Kuhn Loeb and the other big banking firms in the United States refused to finance France or England to the extent of one dollar. They stood aside and they said: “As long as France and England are tied up with Russia, not one cent!” They poured money into Germany, fighting with Germany against Russia, to lick the Czarist regime. The newspapers had been all pro-German, where they’d been telling the people of the difficulties that Germany was having fighting Great Britain commercially and in other respects, then after making the deal with the British for Palestine, all of a sudden the Germans were no good. They were villains. They were Huns. They were shooting Red Cross nurses. They were cutting off babies’ hands. And they were no good. The Zionists in London sent cables to the US, to Justice Brandeis: “Go to work on President Wilson. We’re getting from England what we want. Now you go to work, and you go to work on President Wilson and get the US into the war.” And that did happen. Shortly after President Woodrow Wilson declared war on Germany.

The power of the Rothschild family was evidenced on 24 Sept 2002 when a helicopter touched down on the lawn of Waddedson Manor, their ancestral home in Buckinghamshire, England. Out of the helicopter strode Warren Buffet, – touted as the second richest man in the World but really a lower ranking player- and Arnold Schwarzenegger (the gropinator), at that time a candidate for the Governorship of California. Also in attendance at this two day meeting of the World’s most powerful businessmen and financiers hosted by Jacob Rothschild were James Wolfensohn, president of the World Bank and Nicky Oppenheimer, chairman of De Beers. Arnold went on to secure the governorship of one of the biggest economies on the planet a year later. That he was initiated into the ruling class in the Rothschilds’ English country manor suggests that the centre of gravity of the three hundred trillion dollar cartel is in the U.K. and Europe not the U.S.

A recent article in the London Financial Times indicates why it is impossible to gain an accurate estimate of the wealth of the trillionaire bankers. Discussing the sale of Evelyn Rothschild’s stake in Rothschild Continuation Holdings, it states: …[this] requires agreement on the valuation of privately held assets whose value has never been tested in a public market. Most of these assets are held in a complex network of tax-efficient structures around the World.

Queen Elizabeth II’s shareholdings remain hidden behind Bank of England Nominee accounts. The Guardian newspaper reported in May 2002 … “the reason for the wild variations in valuations of her private wealth can be pinned on the secrecy over her portfolio of share investments. This is because her subjects have no way of knowing through a public register of interests where she, as their head of state, chooses to invest her money. Unlike the members of the Commons and now the Lords, the Queen does not have to annually declare her interests and as a result her subjects cannot question her or know about potential conflicts of interests…” In fact, the Queen even has an extra mechanism to ensure that her investments remain secret – a nominee company called the Bank of England Nominees. It has been available for decades to the entire World’s current heads of state to allow them anonymity when buying shares. Therefore, when a company publishes a share register and the Bank of England Nominees is listed, it is not possible to gauge whether the Queen, President Bush or even Saddam Hussein is the true shareholder.

By this method, the trillionaire masters of the universe remain hidden whilst Forbes magazine poses lower ranking billionaires like Bill Gates and Warren Buffett as the richest men in the World. Retired management consultant Gaylon Ross Sr, author of Who’s Who of the Global Elite, has been tipped from a private source that the combined wealth of the Rockefeller family in 1998 was approx (US) $11 trillion and the Rothschilds (U.S.) $100 trillion. However something of an insider’s knowledge of the hidden wealth of the elite is contained in the article, “Will the Dollar and America Fall Down on August 19?..” on page 1 of the 12th July 2001 issue of Russian newspaper Pravda. The newspaper interviewed Tatyana Koryagina, a senior research fellow in the Institute of Macroeconomic Researches subordinated to the Russian Ministry of Economic Development (Minekonom) on the subject of a recent conference concerning the fate of the U.S. economy:

Koryagina: The known history of civilization is merely the visible part of the iceberg. There is a shadow economy, shadow politics and also a shadow history, known to conspirologists. There are [unseen] forces acting in the World, unstoppable for [most powerful] countries and even continents.

Ashley Mote (EU): “Mr President, I wish to draw your attention to the Global Security Fund, set up in the early 1990s under the auspices of Jacob Rothschild. This is a Brussels-based fund and it is no ordinary fund: it does not trade, it is not listed and it has a totally different purpose. It is being used for geopolitical engineering purposes, apparently under the guidance of the intelligence services.” “I have previously asked about the alleged involvement of the European Union’s own intelligence resources in the management of slush funds in offshore accounts, and I still await a reply. To that question I now add another: what are the European Union’s connections to the Global Security Fund and what relationship does it have with European Union institutions? “Recently, Ashley Mote of the European Union (EU) asked this volatile question in a public EU meeting, a question never answered, as Mr. Mote, merely by asking this question, was immediately scratched from the White House Christmas card list and placed on its top ten hit list. The Illuminati’s cash cow, grazing freely on the World wide pasture of greenbacks, isn’t called “Elsie” but instead is called the Global Security Fund, a name actually meaning in the secret cult’s language Global Terrorist Fund. In simple terms, it’s a gigantic illegal trust fund, estimated by undercover overseas financial investigators at 65 trillion dollars, set-up for “Illuminati rainy days” and established when it is desperately needed in a pinch for bribery, assassinations and sponsoring World wide terrorist activities to divert attention from their banking mafia. Although the fund is cloaked in secrecy and made possible by the Western civilization’ s Federal Reserve banking system, investigators trying to pry into the Illuminati’s secret treasure trove have uncovered some interesting facts.

by J. Speer-Williams, Rense

Lynchpins hold the various elements of a complex structure together.

America’s intelligence agencies are the lynchpins, used by the International Monetary/Banking Cartel to enforce their various agendas on the US government.

Decades ago, Congress lost control of our intelligence agencies, making a parody of the system of “checks and balances” envisioned by our founding fathers. Today, the foreign Monetary Cartel  controls all three of our branches of government through their ownership of what has never  really been “our” intelligence services.

Meanwhile, the Cartel’s mass media deflects our attention away from the unconstitutional and secret powers of the underground intelligence community with petty exposes of how the K Street gang of lobbyists buy off our elected and appointed officials.

Do they really expect us to believe that what is reported on during the light of day exceeds thatwhich transpires during the dark of night?

The usual tools of enforcement used by intelligence agents on our elected officials and appointed bureaucrats are various, depending on what’s needed: Fixing elections, bribes, blackmail, and assassinations are their usual instruments of forcing compliance from our national leaders.

Subvert a nation’s intelligence services and you’re one step from subverting a nation’s government, something long ago accomplished by the International Monetary/Banking Cartel in America.

The thousands of outrageous and unconstitutional governmental orders, directives, laws, judicial interpretations, and actions taken by our federal government has made America no better than any other Banana Republic in history; for some time, we’ve been ruled by a self-appointed, corrupt and exceedingly small group of private financial oligarchs through their control of intelligence agencies. And as long as Americans continue to believe they live in a democracy, the longer this foreign Monetary Cartel will have their way with us.

The very first realization the majority of people must have to regain control of their respective nations is coming to know with certainty that the private Monetary/Banking Cartel, not only controls the central banks of the world, they own them. This ownership allows – probably no more than a few hundred financial capitalists – to create money, of any country, out of the thinest of airs, control all credit, and to then enforce into indebtedness all nations and peoples of the world.

Such edification, however, may prove to be difficult in a world wherein its super-power – the USA – is largely composed of people who believe the Cartel’s US central bank – the Federal Reserve System – is a American federal government institution. The American government has more control over Federal Express than it does over the Federal Reserve System.

And before the American government can issue its own currency and credit (without debt), she must defang its intelligence community of sixteen bloated intelligence and security agencies, starting with the CIA, FBI, and National Security Agency; but doing so will not be easy or without danger.

Toward the end of his term as president, John F. Kennedy swore he was going to tear the CIA into a thousands pieces: He paid the ultimate price for his patriotic intention. Disempowering US intelligence agencies will not be an easy job, as they have never been more powerful.

And under the cover of the “national security” ruse, intelligence agencies have grown even more influential and authoritative, as they turn us into a rogue nation, intent on destroying all of our liberties at home, while expanding our terrorist attacks on innocent people abroad, complete with the torture of our fellow human beings. One can only hope that the majority of Americans will stop opting for security over their freedoms.

Ben Franklin wrote, “They who give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.”

But ironically, the so-called “national security” and “consumer protection” measures taken by the US government have made our country more insecure than ever before in our history. From a plummeting economy, to wide-open borders, to dangerous full-body scanners, to poisonous vaccines, to chemtrails, to GMO foods, to the loss of habeas corpus, to the bombing of women and children, to the depleted uranium poisoning of our own troops (and the entire world), Americans have never been so insecure, all thanks to the ruling moneychangers of our world and their covert use of national intelligence  agencies.

Robber barons have thrown us back into the Middle Ages and into a neo-feudalism, all superimposed with poisons, radiation, and a fascistic government, largely in the name of “national security.”

But if we can defang the intelligence agencies, we will have defanged the nemesis of mankind – the alien, archfiends of the International Monetary/Banking Cartel. Intelligence agencies are their Achilles’ heel – perhaps a small, but a potentially mortal weakness.

by Bill Sardi

The public may have casually become aware of recent news announcements about an agreed upon goal between bankers to reach an 8-percent cash reserve requirement in their institutions. A list was recently published showing few banks currently have reached this reserve requirement. This list was obviously issued to apply public pressure via the public’s ability to direct their deposits to more stable banks, thus nudging other banks to increase their reserves.

Banks deploy depositors’ money into interest-bearing loans in order to generate profits and keep a portion in reserve to meet depositors’ immediate needs. Recall that withdrawal of $16.7 billion in cash from Washington Mutual bank over a 9-day period is what drove that bank into insolvency even though it had $307 billion of (over-valued) assets and deposits of $188 billion at the time. So cash reserves are of greater importance into today’s unstable financial environment.

It all sounds so collegiate – a bunch of the world’s bankers have agreed to stabilize their institutions so as to better withstand current economic challenges and create greater public confidence in banks. News reports make it sound like bankers are cooperative. But in reality, there is a war going on between bankers, in particular central bankers, those bankers who supply money to depository banks where the public banks their money.

First shots fired

The first shots in this war were apparently fired by banks in Japan a number of years ago. This dispute between bankers is what has led to the current worldwide financial crisis.

Bruce Wiseman makes us aware of this war in his report A Look Behind The Wizard’s Curtain: The Financial Crisis: The Hidden Beginning. Wiseman’s upcoming book and movie on this topic are scheduled for release in 2010.

Wiseman reports that the top ten banks in the world in the 1970s were American banks. But in the 1980s six Japanese banks rose into the top-ten ranking. Wiseman explains this sudden rise, which was said to shift the center of world banking from New York to Tokyo, was due to the low reserves (said to be as low as 3%) kept by bankers in Japan.

With lower reserve requirements, Japanese banks had more available funds to loan than competing banks throughout the globe. These Nippon bankers could establish branch banks throughout the world and dominate the world’s financial markets.

The 8-percent reserve requirement agreed upon in the Basel I agreement, named for the location of its signing at the Bank of International Settlements in Basel, Switzerland, is intended to put the world’s banks on a level playing field when it comes to doing business outside their own countries.

Wiseman says this low-reserve requirement practiced by banks in Japan was perceived as drawing a samurai sword against the rest of the world’s bankers and this didn’t rest well with Alan Greenspan, then chairman of the US Federal Reserve Bank and Board Member of the International Bank of Settlements, a bank for the world’s central bankers headquartered in Basel, Switzerland. Something had to be done about unfair competition in the banking arena.

Bankers in Japan were informed via the Bank of International Settlements, the “central bankers’ bank,” that they would not be allowed to continue their operations in major foreign markets unless they agreed to a minimum reserve requirement – the 8% rule. Japanese bankers were coerced to agree to what has become known as the Basel I accord which was signed in 1988.

Foot dragging over reforms

But it’s now 21 years later, and bankers are still dragging their feet to comply with a stability measure that, had it been implemented, may have staved off part of the current economic crisis long before it occurred.

Don’t get a false impression that Japanese banks are solely to blame for bank instability. Five investment banks in the U.S. (Goldman Sachs, Lehman Brothers, Bear Stearns, Merrill-Lynch and Morgan Stanley) appealed to the Securities Exchange Commission (SEC) and won the privilege to carry a 20-to-1 or even 30-to-1 ratio of capital to loans (not the same as cash reserves, as mentioned above).

For example, instead of these investment banks employing a more traditional capital-to-loan ratio of 10-to-1 (let’s say $1 billion of capital to issue $10 billion in loans), they were given the green light to loan at the ratio of 20-to-1 or even 30-to-1 ($1 billion of capital to issue $20 billion or even $30 billion in loans). This was a conscious decision by the SEC that probably was coerced by political influence.

Basel II spawns real estate bubble

This bankers’ war continued over the following decade and a half, culminating in Basel II in 2004, another agreement between banks to standardize reporting requirements for credit worthiness and capital that each depository bank holds. This is when the so-called “mark-to-market” rules were established. The Bank of International Settlements is attempting to get banks to value their real estate assets on real market value and to reveal all of the non-performing loans (foreclosures) they have on their books. Such revelations and transparency would doom many banks, including some of the world’s largest banks.

Basel II also made provision for reduced reserve requirements for mortgage-backed home loans. This made home loans more profitable and is set off the explosive false growth in residential real estate and created the financial bubble that finally popped in 2008. Central bankers are to blame for setting off this wild fire in the real estate market.

How many banks intend to comply?

A recent survey conducted by the Financial Stability Institute attempted to determine how many banks in 115 jurisdictions in less developed nations in Africa, Asia, Latin America and the Middle East intend to comply with Basel II. The survey was not sent to banks in Japan, possibly for good reason. The 2004 survey revealed 95 countries currently plan to comply with Basel II reporting requirements, and even more countries said they intended to comply with Basel II in a 2006 survey.

However, according to a report in Risk Magazine, the banking industry is fighting finalized reforms in the Basel II mandates, claiming the amount of capital required cannot be raised within the allotted time framework. Finance ministers and central bank governors of the 20 leading economies (called the Group of 20) wants full implementation by 2012.

Prudent banking

Prudent banking is not beyond the capability of bankers. For example, according to a Wall Street Journal article, while Basel II requires a capital to loan ratio of 9%, banks in India are required to have a 12% standard.

Bankers in China have been even more prudent. Chinese banks adhere to a cap on loan-to-deposit ratios of about 75% (the actual ratio is more like 67%), and leverage ratios (capital-to-loan ratios) in the single digits – considerably below what the big U.S. banks have been allowed to accumulate. Furthermore, in China, home buyers can only borrow up to 70% of the value of their property (60% if it’s a second purchase).

Fang Xinghai, director-general of Shanghai’s financial-services office, recently described the difference between the Chinese and U.S. approaches to bank regulation in the Wall Street Journal: “In the U.S., the regulators don’t believe in regulation to begin with,” he said, and pointed a finger at former Federal Reserve Chairman Alan Greenspan’s belief that the Fed’s job wasn’t to prevent or deflate assets bubbles, but to “deal with the consequences.”

The Wall Street Journal report goes on to say that bankers in Spain certainly incurred exposure to an overbuilt real estate market (an estimated 1.2 million unsold new homes), but they avoided further trouble by consolidating all their assets, even non-performing home loans, onto their balance sheets. For comparison, “Special investment vehicles,” employed by American banks, “cooked the books” and keep risky debt off of bank ledgers.

Resorting to the unthinkable

Unable to create a level competitive field for banking, the bank reform effort has now shifted away from cooperation to a master plan to take down the world’s economies and exercise complete control in the aftermath by introduction of a master plan to control banking and currency.

According to Wiseman, the plan underway now is to intentionally “take down the United States and the U.S. dollar as the stable datum of planetary finance and replace it with something called a Global Monetary Authority” that will issue a single global currency via the world’s central bankers, who in turn distribute money to depository and investment banks.

What Wiseman is talking about here is that a small group of less than a dozen central bankers are likely to rule the world via control of currency.

As confirmation of Wiseman’s claim, the call for a “global monetary authority” was echoed by a Yale professor in theFinancial Times in 2008.

What looms is a single global currency, probably issued by the International Monetary Fund (IMF), which will then exert control over the world’s banks. A more complete picture of what is likely being planned is provided here andhere.

The intentional take-down of the world’s economies and establishment of a world currency will be spawned out of planned chaos which would provoke the planet’s masses to beg for relief. The new currency and its new central bank will be offered up as the quickest solution to the world’s economic turmoil.

But will world control be lost?

However, the bankers and elites risk losing control of the world that they now hold. As investigative journalist Daniel Estulin reports, “One of Bilderberg’s primary concerns accordingly is the danger that their zeal to reshape the world by engineering chaos in order to implement their long term agenda could cause the situation to spiral out of control and eventually lead to a scenario where Bilderberg and the global elite in general are overwhelmed by events and end up losing their control over the planet.” (The Bilderberg Group, comprised of over 100 influential people, meets annually to discuss issues of world concern.)

Yet central bankers and elitists plod ahead, all the while attempting to tighten their grip on the masses. Following the G20 (20 leading countries of the world) meeting at the beginning of April, 2009, it was reported that, “The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.” A communiqué released by the G20 leaders stated that, “We have agreed to support a general standard drawing rights (SDR) allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,” and that, “SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.” Essentially, “they are putting a de facto world currency into play. It is outside the control of any sovereign body.”

IMF plants an agent in our midst

The IMF has the right man in place to do the job in the U.S. Timothy Geithner, U.S. Treasury Secretary, was director of the Policy Development and Review Department (2001–2003) at the IMF. Geithner is also well connected in other circles. He was also part of a consulting firm in the 1980s owned by former Secretary of State Henry Kissinger. Furthermore, Geithner was also president of the Federal Reserve Bank of New York and a staffer at the Council on Foreign Relations.

Geithner, as U.S. Secretary of the Treasury, apparently sees no conflict between his duty to uphold the U.S. Constitution and a one-world currency. He goes along with the agenda to abolish the US dollar in favor of a global medium of exchange. Geithner was quoted to say: “Our hope is that we can work with Europe on a global framework, a global infrastructure which has appropriate global oversight.”

What lies ahead

Foot dragging by the world’s bankers to comply with banking standards and the intentional collapse of world economies to force bank reform has dragged the world into a quagmire that could lead to mass starvation, suicide and even war. A former top British bank regulator recently called for the formation of an international bank police agency to bring the bankers into line. But such an idea appears to be too late. Efforts to usher in an IMF-issued currency appear to be steaming forward.

Such plans, to usher in a one-world government and a single currency, were made decades ago by elitists and central bankers, but they were waiting for world events to be engineered in a manner to create the perfect storm that would cause Americans to give up their sovereignty, and their greenbacks, in exchange for a new type of play money and subservience to another rule of law outside the U.S. Constitution. Professor Carroll Quigley described this covert plan in the 1960s in his book entitled Tragedy and Hope: A History Of The World In Our Time. Another broad description of this plan is found here.

World control

Few Americans catch on to the fact that central bankers, not elected representatives, have controlled America for some time now. It was the British banker Mayer Amschel Bauer Rothschild who said in 1791: “Allow me to issue and control a nation’s currency, and I care not who makes its laws.”

The world exists for the central bankers to plunder, and no one else. What is good for the central bankers is good enough for the rest of the world. It’s like the world is a tiger that is being slung around by its tail. If central bankers aren’t paid their dues, the world must suffer. Yet the bankers must not be deprived of their seven, eight and even nine-figure commission checks amidst the turmoil. The world is being slung into economic chaos over a long-standing war between central bankers. If the masses only knew.

Great video looking at the average American and how/why we’re zombified by the NWO elitists.