The Best Explanation of the Federal Reserve & Money Supply

The Biggest Scam In The History Of Mankind – Who Owns The Federal Reserve? Hidden Secrets of Money 4.  Inflation, the IRS, the debt ceiling, and the personal income tax are covered as well. Bonus Presentation here: http://www.hiddensecretsofmoney.com Who owns the Federal reserve? You are…

The Big Four that Rule the World: State Street, Vanguard, BlackRock and Fidelity

From 4th Media

The Large Families that rule the world. Some people have started realizing that there are large financial groups that dominate the world. Forget the political intrigues, conflicts, revolutions and wars. It is not pure chance. Everything has been planned for a long time.

Some call it “conspiracy theories” or New World Order. Anyway, the key to understanding the current political and economic events is a restricted core of families who have accumulated more wealth and power.

We are speaking of 6, 8 or maybe 12 families who truly dominate the world. Know that it is a mystery difficult to unravel.

We will not be far from the truth by citing Goldman Sachs, Rockefellers, Loebs Kuh and Lehmans in New York, the Rothschilds of Paris and London, the Warburgs of Hamburg, Paris and Lazards Israel Moses Seifs Rome.

Many people have heard of the Bilderberg Group, Illuminati or the Trilateral Commission. But what are the names of the families who run the world and have control of states and international organizations like the UN, NATO or the IMF?

To try to answer this question, we can start with the easiest: inventory, the world’s largest banks, and see who the shareholders are and who make the decisions.

The world’s largest companies are now: Bank of America, JP Morgan, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley.

Let us now review who their shareholders are.

Bank of America:

State Street Corporation, Vanguard Group, BlackRock, FMR (Fidelity), Paulson, JP Morgan, T. Rowe, Capital World Investors, AXA, Bank of NY, Mellon.

JP Morgan:

State Street Corp., Vanguard Group, FMR, BlackRock, T. Rowe, AXA, Capital World Investor, Capital Research Global Investor, Northern Trust Corp. and Bank of Mellon.

Citigroup:

State Street Corporation, Vanguard Group, BlackRock, Paulson, FMR, Capital World Investor, JP Morgan, Northern Trust Corporation, Fairhome Capital Mgmt and Bank of NY Mellon.

Wells Fargo:

Berkshire Hathaway, FMR, State Street, Vanguard Group, Capital World Investors, BlackRock, Wellington Mgmt, AXA, T. Rowe and Davis Selected Advisers.

We can see that now there appears to be a nucleus present in all banks: State Street Corporation, Vanguard Group, BlackRock and FMR (Fidelity).

To avoid repeating them, we will now call them the “big four”

Goldman Sachs:

“The big four,” Wellington, Capital World Investors, AXA, Massachusetts Financial Service and T. Rowe.

Morgan Stanley:

“The big four,” Mitsubishi UFJ, Franklin Resources, AXA, T. Rowe, Bank of NY Mellon e Jennison Associates. Rowe, Bank of NY Mellon and Jennison Associates.

We can just about always verify the names of major shareholders. To go further, we can now try to find out the shareholders of these companies and shareholders of major banks worldwide.

Bank of NY Mellon:

Davis Selected, Massachusetts Financial Services, Capital Research Global Investor, Dodge, Cox, Southeatern Asset Mgmt. and … “The big four.”

State Street Corporation (one of the “big four”):

Massachusetts Financial Services, Capital Research Global Investor, Barrow Hanley, GE, Putnam Investment and … The “big four” (shareholders themselves!).

BlackRock (another of the “big four”):

PNC, Barclays e CIC.

Who is behind the PNC? FMR (Fidelity), BlackRock, State Street, etc.

And behind Barclays? BlackRock

And we could go on for hours, passing by tax havens in the Cayman Islands, Monaco or the legal domicile of Shell companies in Liechtenstein. A network where companies are always the same, but never a name of a family.

In short: the eight largest U.S. financial companies (JP Morgan, Wells Fargo, Bank of America, Citigroup, Goldman Sachs, U.S. Bancorp, Bank of New York Mellon and Morgan Stanley) are 100% controlled by ten shareholders and we have four companies always present in all decisions: BlackRock, State Street, Vanguard and Fidelity.

In addition, the Federal Reserve is comprised of 12 banks, represented by a board of seven people, which comprises representatives of the “big four,” which in turn are present in all other entities.

In short, the Federal Reserve is controlled by four large private companies: BlackRock, State Street, Vanguard and Fidelity. These companies control U.S. monetary policy (and world) without any control or “democratic” choice. These companies launched and participated in the current worldwide economic crisis and managed to become even more enriched.

To finish, a look at some of the companies controlled by this “big four” group

  • Alcoa Inc.
  • Altria Group Inc.
  • American International Group Inc.
  • AT&T Inc.
  • Boeing Co.
  • Caterpillar Inc.
  • Coca-Cola Co.
  • DuPont & Co.
  • Exxon Mobil Corp.
  • General Electric Co.
  • General Motors Corporation
  • Hewlett-Packard Co.
  • Home Depot Inc.
  • Honeywell International Inc.
  • Intel Corp.
  • International Business Machines Corp
  • Johnson & Johnson
  • JP Morgan Chase & Co.
  • McDonald’s Corp.
  • Merck & Co. Inc.
  • Microsoft Corp.
  • 3M Co.
  • Pfizer Inc.
  • Procter & Gamble Co.
  • United Technologies Corp.
  • Verizon Communications Inc.
  • Wal-Mart Stores Inc.
  • Time Warner
  • Walt Disney
  • Viacom
  • News Corporation
  • CBS Corporation
  • NBC Universal

The same “big four” control the vast majority of European companies counted on the stock exchange. In addition, all these people run the large financial institutions, such as the IMF, the European Central Bank or the World Bank, and were “trained” and remain “employees” of the “big four” that formed them. The names of the families that control the “big four”, never appear.

For more on the specific families that are behind these institutions, read “Big Oil and Their Bankers in the Persian Gulf” by Dean Henderson.

If you would like the original scientific study about the network that rules the world, look here.

Permanent Damage Has Been Done To The US Economy

From Zerohedge:

Most people that discuss the “economic collapse” focus on what is coming in the future.  And without a doubt, we are on the verge of some incredibly hard times.  But what often gets neglected is the immense permanent damage that has been done to the U.S. economy by the long-term economic collapse that we are already experiencing.  In this article I am going to share with you 12 economic charts that show that we are in much, much worse shape than we were five or ten years ago.  The long-term problems that are eating away at the foundations of our economy like cancer have not been fixed.  In fact, many of them continue to get even worse year after year.  But because unprecedented levels of government debt and reckless money printing by the Federal Reserve have bought us a very short window of relative stability, most Americans don’t seem too concerned about our long-term problems. 
They seem to have faith that our “leaders” will be able to find a way to muddle through whatever challenges are ahead.  Hopefully this article will be a wake up call.  The last major wave of the economic collapse did a colossal amount of damage to our economic foundations, and now the next major wave of the economic collapse is rapidly approaching.
#1 Employment
The mainstream media is constantly telling us about the “employment recovery” that is happening in the United States, but the truth is that it is just an illusion.  As the chart below demonstrates, just prior to the last recession about 63 percent of all working age Americans had a job.  During the last wave of the economic collapse, that number dropped to below 59 percent and stayed there for a very long time.  In the past few months we have finally seen the employment-population ratio tick back up to 59 percent, but we are still far, far below where we used to be.  To call the tiny little bump at the end of this chart a “recovery” is really an insult to our intelligence…
Employment Population Ratio 2014
#2 The Labor Force Participation Rate
The percentage of Americans that are either employed or currently looking for a job started to fall during the last recession and it has not stopped falling since then.  The labor force participation rate has now fallen to a 36 year low, and this is a sign of a very, very sick economy…
Labor Force Participation Rate 2014
#3 The Inactivity Rate For Men In Their Prime Years
Some blame the decline in the labor force participation rate on the aging of our population.  But it isn’t just elderly people that are dropping out of the labor force.  In fact, the inactivity rate for men in their prime working years (25 to 54) continues to rise and is now at the highest level that has ever been recorded…
Inactivity Rate Men 2014
#4 Manufacturing Employees
Once upon a time in America, anyone that was reliable and willing to work hard could easily find a manufacturing job somewhere.  But we have stood by and allowed millions upon millions of good paying manufacturing jobs to be shipped out of the country, and now many of our formerly great manufacturing cities have been transformed into ghost towns.  Over the past few years, there has been a slight “recovery”, but we are still well below where we were at just previous to the last recession…
Manufacturing Employees 2014
#5 Our Current Account Balance
As a nation, we buy far more from the rest of the world than they buy from us.  In other words, we perpetually consume far more wealth than we produce.  This is a recipe for national economic suicide.  Our current account balance soared to obscene levels just prior to the last recession, and now we have almost gotten back to those levels…
Current Account Balance 2014
#6 Existing Home Sales
Our economy has never fully recovered from the housing crash of 2007-2008.  As you can see from the chart below, the number of existing home sales is still far below the level that we hit back in 2006.  At this point we are just getting back to the level we were at in 2000, but our population today is far larger than it was back then…
Existing Home Sales 2014
#7 New Home Sales
Things are even more dramatic when you look at new home sales.  This is an industry that have been absolutely emasculated.  The number of new home sales in the United States is just a little more than half of what it was back in 2000, and it isn’t even worth comparing to what we experienced during the peak of 2006.
New Home Sales 2014
#8 The Monetary Base
In a desperate attempt to get the economy going again, the Federal Reserve has been wildly printing money.  It has been so reckless that it is hard to put it into words.  When I look at this chart, the phrase “Weimar Republic” comes to mind…
Monetary Base 2014
#9 Food Inflation
Thankfully, much of the money that the Federal Reserve has been injecting into the system has not made it into the real economy.  But enough of it has gotten into the system to force food prices significantly higher.  For example, my wife went to the store today and paid just a shade under 10 bucks for just four pieces of chicken.  And as you can see from the chart below, food prices have been steadily going up in America for a very long time…
Food Inflation 2014
#10 The Velocity Of Money
One of the reasons why we have not seen even more inflation is because the velocity of money is extraordinarily low.  In general, when an economy is healthy money tends to flow through the system rapidly.  People are buying and selling and money changes hands frequently.  But when an economy is sick, money tends to stagnate.  And that is exactly what is happening in the United States right now.  In fact, at this point the velocity of the M2 money stock has dropped to the lowest level ever recorded…
Velocity Of Money 2014
#11 The National Debt
As our economic fundamentals have deteriorated, our politicians have attempted to prop up our standard of living by borrowing from the future.  The U.S. national debt is on pace to approximately double during the Obama years, and it increased by more than a trillion dollarsin fiscal year 2014 alone.  Despite assurances that “the deficit is under control”, the federal government borrows about a trillion dollars a year to fund new spending in addition to borrowing about 7 trillion dollars to pay off old debt that is coming due.  What we are doing to future generations of Americans is absolutely criminal, and it is just a matter of time before this Ponzi scheme totally collapses…
National Debt 2014
#12 Total Debt
Of course it is not just the federal government that is gorging on debt.  When you add up all forms of debt in our society (government, business, consumer, etc.) it comes to a grand total of more than 57 trillion dollars.  This total has more than doubled since the year 2000…
Total Debt 2014
If you know anyone that believes that we are in good economic shape, just show them these charts.
The numbers do not lie.  Our economy is sick and it is getting sicker by the day.
And of course the next major financial crisis could strike at any time.  U.S. stocks just experienced their worst week in three years, and if cases of Ebola start popping up around the country the fear that would cause could collapse our economy all by itself.
The debt-fueled prosperity that we are enjoying today is not real.  We are living on the fumes of our past, and every single day our long-term problems get even worse.
Anyone with half a brain should be able to see what is coming.
Sadly, most Americans will continue to deny the truth until it is far too late.

Is the Fed Preparing To Asset-strip Local Government? Bizarre New Rules

From Web of Debt Blog
Posted on  by Ellen Brown

In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks. Municipal bonds, long considered safe liquid investments, have been eliminated from the list of high-quality liquid collateral. assets (HQLA). That means banks that are the largest holders of munis are liable to start dumping them in favor of the Treasuries and corporate bonds that do satisfy the requirement.
Muni bonds fund the nation’s critical infrastructure, and they are subject to the whims of the market: as demand goes down, interest rates must be raised to attract buyers. State and local governments could find themselves in the position of cash-strapped Eurozone states, subject to crippling interest rates. The starkest example is Greece, where rates went as high as 30% when investors feared the government’s insolvency. Sky-high interest rates, in turn, are the fast track to insolvency. Greece wound up stripped of its assets, which were privatized at fire sale prices in a futile attempt to keep up with the bills.
The first major hit to US municipal bonds occurred with the downgrade of two major monoline insurers in January 2008. The fault was with the insurers, but the taxpayers footed the bill.  The downgrade signaled a simultaneous downgrade of bonds from over 100,000 municipalities and institutions, totaling more than $500 billion. The Fed’s latest rule change could be the final nail in the municipal bond coffin, another misguided move by regulators that not only does not hit its mark but results in serious collateral damage to local governments – maybe serious enough to finally propel them into bankruptcy.
Why this unprecedented move by US regulators? It is not because municipal bonds are too risky, since corporate bonds with lower credit ratings are accepted under the new rules. Nor is it that the stricter standard is required by the Basel Committee on Banking Supervision (BCBS), the BIS-based global regulator agreed to by the G20 leaders in 2009. The Basel III Accords set by the BCBS are actually more lenient than the US rules and do not include these HQLA requirements. So what’s going on?
From the Inscrutable, Unaccountable Fed
The rule change was detailed by Pam Martens and Russ Martens in a September 4th article titled “The Fed Just Imposed Financial Austerity on the States.” They write that on September 3rd:
The Federal regulators adopted a new rule that requires the country’s largest banks – those with $250 billion or more in total assets – to hold an increased level of newly defined “high quality liquid assets” (HQLA) in order to meet a potential run on the bank during a credit crisis. In addition to U.S. Treasury securities and other instruments backed by the full faith and credit of the U.S. government (agency debt), the regulators have included some dubious instruments while shunning others with a higher safety profile.
Bizarrely, the Fed and its regulatory siblings included investment grade corporate bonds, the majority of which do not trade on an exchange, and more stunningly, stocks in the Russell 1000, as meeting the definition of high quality liquid assets, while excluding all municipal bonds – even general obligation municipal bonds from states with a far higher credit standing and safety profile than BBB-rated corporate bonds.
This, rightfully, has state treasurers in an uproar. The five largest Wall Street banks control the majority of deposits in the country. By disqualifying municipal bonds from the category of liquid assets, the biggest banks are likely to trim back their holdings in munis which could raise the cost or limit the ability for states, counties, cities and school districts to issue muni bonds to build schools, roads, bridges and other infrastructure needs. This is a particularly strange position for a Fed that is worried about subpar economic growth.
Not Sufficiently Liquid?
In a September 3rd press release, Federal Reserve Governor Daniel K. Tarullo stated that while “most state and municipal bonds are not sufficiently liquid to serve the purposes of HQLA in stressed periods . . . the liquidity of some state and municipal bonds is comparable to that of the very liquid corporate bonds that can qualify as HQLA.” [Cite] Criteria were being developed, he said, for considering these assets. But “it is important to get this final rule adopted now, so that the largest banks can begin to prepare for its implementation on January 1.” In the meantime, muni bonds are in limbo, and it appears that most will still not be accepted as HQLA.
The regulators consider stocks to be more liquid than muni bonds because they are readily traded on the stock market. But as the Martens’ note, stock markets can be quite inaccessible in a crisis. Quoting from the Fed’s own archives on the crash of 1987:
Market makers in the over-the-counter market were not obligated to maintain an orderly market and many withdrew from trading. Delays in processing trades resulted in investors receiving prices very different from what they expected. Many brokers did not answer their phones, leaving investors unable to reach them. Erratic price movements and quotes resulted in frequent lock-ups in the electronic trading system used in the over-the-counter market.
In any case, switching the banks’ holdings from muni bonds to corporate bonds or Treasuries is liable to have little effect in a crash. The stricter rules are supposed to be a defense against bank runs; but in a major derivatives bust and bail-in, the available collateral will go first to the derivatives claimants, through a massive concession to financial institutions in the Bankruptcy Reform Act of 2005. (See my earlier article here.) The FDIC and the depositors are both liable to be out of luck, no matter what form the collateral takes.
The Martens’ conclude:
That the Fed and its regulatory cohorts have to resort to this implausible plan – which crimps the ability of states and localities to raise essential funds to operate – in a strained effort to pretend that they’ve found a means of avoiding another massive bailout of Wall Street in a crisis, is just further proof that the only way to seriously deal with too-big-to-fail banks is to restore the Glass-Steagall Act and break up these complex creatures before they strike again.
Gordon Gekko Goes Muni?
The rule change may not have much effect in a crash, but where it will have a major effect is on the cost of credit, which will increase for municipal governments and decrease for corporate and financial institutions. The result will be to further shift power and financial resources from the public sector to the private sector.
Why would regulators dangerously jeopardize state and local government budgets in this way? Skeptical observers speculate that the intent is to Detroit-ize municipal governments, so that assets can be stripped as is being done in that imperiled city. The international bankers got away with asset-stripping Greece. Why not make the US itself a wholly-owned subsidiary of private banking interests?
If that seems far-fetched, consider what is happening with Argentina, which has been forced into bankruptcy by a US court to satisfy the exaggerated claims of certain hold-out vulture funds. IMF regulators have discussed establishing an international bankruptcy court that could strip a country such as Argentina of its assets, including prime sections of real estate, to pay off the nation’s creditors.
In the US, there is already a trend to force state and municipal governments into austerity measures, if not outright bankruptcy, in order to eliminate labor unions, pension obligations and social services. Bankruptcies can be involuntary, forced by the creditors who caused them. Detroit is the US model. Michigan’s Constitution protects pensions, so the emergency manager appointed by the governor could not unilaterally cut those funds. But in a municipal bankruptcy, a judge would decide the fate of city workers’ pensions, making it an attractive option for banking interests. The oligarchs have long had their eyes on the massive sums represented by the pension funds.
Public Banks to the Rescue?
Whatever the explanation for the Fed’s game-changing move, the vulnerability of state and local governments to unpredictable and unaccountable federal regulators is another strong argument in favor of forming publicly-owned banks. Why be under the thumb of an erratic privately-owned central bank manipulated by Wall Street megabanks now caught in multiple frauds?
Like Eurozone countries, US states cannot print their own currencies. But unlike Eurozone countries, they can borrow from their own public banks, which can create money as credit on their books just as private banks do.
At least, they could if they had their own banks. Only one state – North Dakota – has currently taken advantage of that option. North Dakota is also the only state to have escaped the 2008 credit crisis, sporting a budget surplus every year since then. It has the lowest unemployment rate in the country, the lowest default rate on credit card debt, and one of the lowest foreclosure rates.
True, North Dakota also has oil. But the 2008 crisis happened before oil and gas had made a significant impact on state revenues; and the state was posting a budget surplus all during that period. Other oil and gas states are not doing so well.
Globally, 40% of banks are publicly owned; and they are largely in the BRIC countries – Brazil, Russia, India and China. These countries also escaped the credit crisis largely unscathed.
If state and municipal governments want to protect themselves from the fate of Greece and Detroit, they would do well to follow North Dakota’s lead and form their own publicly-owned banks. And time is of the essence, if they hope to beat the rush before the first US Cyprus-style bail-in consumes the collateral that local governments are counting on to protect their multi-billions in deposits.
_________
Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books, including the best-selling Web of Debt. In The Public Bank Solution, her latest book, she explores successful public banking models historically and globally. Her 200+ blog articles are at EllenBrown.com.

The Bank of International Settlements; The Shadow Government of Central Banks

The article below is an excellent summary of modern central banking and it’s involvement with economic wars.  It leaves out some very important facts about its origins, which go back to Hjalmar Schacht, President of the Reichsbank and Minister of Economics under Adolph Hitler.  The BIS was used to handle all the gold and assets stolen from pillaged countries, but I digress.

Written by Bruno de Landevoisin of  the STEALTHFLATION blog.
The Bank for International Settlements, otherwise known as the BIS, should more aptly be named the Bank for International division and domination.  It’s clearly an institution with global reach, whose hidden covert purpose is to impose the financial globalist’s agenda on all sovereign nation states.  The luminous photo below is of their luxurious Headquarters.
Ten times a year, once a month except in August and October, a small group of well dressed men arrives in Basel, Switzerland. Carrying elegant overnight bags and stylish brief cases, they discreetly check into the Euler Hotel, across from the railroad station.  They come to this quiet city from places as disparate as Tokyo, Paris, Brasília, London, and Washington, D.C., for the regular meeting of the most exclusive, secretive, and powerful supranational club in the world.
Each visiting member has his own office at the club, with secure telephone lines to his home country.  These elite international bankers are fully serviced by a permanent staff of about 300, including chauffeurs, chefs, guards, messengers, translators, stenographers, secretaries, and researchers. Also at their disposal are a brilliant research unit, well equipped medical facility and deep underground bunker, as well as a secluded country club with tennis courts and a swimming pool, a few kilometers outside of Basel.
Undoubtedly, we have all heard of this all important international organization, but how many of us really know much about it, or even understand its intended purpose.  The only thing that I knew about this powerful global entity was that it is often described as the Central Bank of Central Banks.  Clearly, we all need to know more, let’s constructively begin with some benign elementary historical background transcribed from Investopedia, and also lay out the venerable institution’s specific functions & mission statement, directly from the BIS website itself.images (2)
Founding and brief History of the BIS:
 Founded in 1930, the Bank for International Settlements is the oldest global financial institution and operates under the auspices of international law. But from its inception to the present day, the role of the BIS has been ever-changing, as it adapts to the dynamic global financial community and its needs. The BIS was created out of the Hague Agreements of 1930 and took over the job of the Agent General for Repatriation in Berlin. When established, the BIS was responsible for the collection, administration and distribution of reparations from Germany – as agreed upon in the Treaty of Versailles.
After World War II, the BIS turned its focus to the defense and implementation of the World Bank’s Bretton Woods System. Between the 1970s and 1980s, the BIS monitored cross-border capital flows in the wake of the oil and debt crises, which in turn led to the development of regulatory supervision of internationally active banks. More recently, it has concentrated its efforts on the global financial stability and capital reserve requirement accords. The BIS has also emerged as an emergency “funder” to nations in trouble, coming to the aid of countries such as Mexico and Brazil during their debt crises in 1982 and 1998, respectively. In cases like these, where the International Monetary Fund is already in the country, emergency funding is provided through the IMF structured program.

The BIS has also functioned as trustee and agent. For example, from 1979 to 1994, the BIS was the agent for the European Monetary System, which is the administration that paved the way for a single European currency. Today, the BIS has become the central bank of central banks. The Bank now represents the interests of nearly all of the world’s central bank institutions, and manages a significant share of their reserves, including gold holdings. The organization now serves and presides over 60 central banks worldwide. Accordingly the BIS requires the capital/asset ratio of central banks to be above a prescribed minimum international standard, for the protection of all central banks involved.
2014-08-02_1054
In broad outline, the BIS pursues its mission by:
  • Promoting discussion and facilitating collaboration among central banks.
  • Supporting dialogue with other authorities that are responsible for promoting financial stability.
  • Conducting research on policy issues confronting central banks and financial supervisory authorities.
  • Acting as a prime counterparty for central banks in their financial transactions.
  • Serving as an agent or trustee in connection with international financial operations.   
Der-BIZ-Turm-in-Basel-Hauptquartier-der-Bank-fuer-internationalen-Zahlungsausgleich-Archiv-
Now that we are up to speed on the BIS’s alleged “raison d’etre”, and fully indoctrinated in the organization’s whitewashed history, self proclaimed mission statement and assumed functions, let’s expose the true nature of this supposedly benign bastion of banking balance.  Trust me, they are anything but the modest measured men of monetary moderation and management they purport to be.  This odious institution is nothing but a conceited cunning cabal of carnivorous cannibals bent on global financial domination, who deftly deploy dreaded debt disbursements the world over. They will stop at nothing to achieve their ends, absolutely nothing.
To fully comprehend the self-serving nature of the BIS, one has to understand that it is an autocratic institution run by a very select group of the highest ranking bankers on the planet, representing both private banking interests, as well as those of the vast worldwide network of central banks that are ultimately owned by those same private commercial & financial interests.  It is important to note that these top flight international bankers have intentionally organized themselves, so as not to be directed by their own national governments for the crucial decisions and actions they take.  In effect, they are a supranational organization, controlled by an elite group of men, who preside over most of the world’s financial and monetary systems of exchange which regulate and facilitate most of the globe’s commerce.
The supreme inner club is made up of the half-dozen powerful central bankers at the apex of a privately devised international monetary system.  Their dictate, which enshrines the inner club from the rest of the lessor BIS members, is the firm belief that central banks should act independently of their home governments.  Their controlling organization is at the epicenter of global finance, and has inherently become increasingly connected and indispensable over time by design.  A glaring early example of their self-serving grandiosity can be found in their despicable double dealings before the outbreak and during the hostilities of the World Wars.
The following passage, by well-respected financial historian Adam LeBor, details the nefarious activities of Thomas McKittrick, a former president of the BIS:
The BIS was founded in Basel in 1930, where it is still headquartered today. Ostensibly set up as part of the Young Plan to administer German reparations payments for WWI, its real purpose was detailed in its statutes: to “promote the cooperation of central banks and provide additional facilities for international financial operations.” The establishment of the BIS was the culmination of the central bankers’ decades-old dream to have their own bank powerful, independent, and free from interfering politicians and nosy reporters.
Under the terms of the founding treaty, the bank’s assets could never be seized, even in times of war. Most felicitous of all, the BIS was self-financing and would be in perpetuity. Its clients were its own founders and shareholders, the central banks. The BIS, boasted Gates McGarrah, an American banker who served as its first president, was “completely removed from any government or political control.” McKittrick’s involvement with the BIS began in 1931, when he joined the German Credits Arbitration Committee, which adjudicated disputes involving German commercial banks. One of the other two members was Marcus Wallenberg, of Sweden’s Enskilda Bank, who taught McKittrick about the intricacies of international finance. Marcus and his brother Jacob were two of the most powerful bankers in the world. During the war, the Wallenberg brothers used Enskilda Bank to play both sides and harvest enormous profits.

2011-07-16180202In May 1939 McKittrick was offered the position of president of the BIS, which he readily accepted. As head of the BIS, headquartered in Basel, from 1940 to 1946, McKittrick played a crucial role in abetting Hitler’s war—and, at the same time, in revealing details about his Nazi colleagues to his friends in Washington, D.C. On McKittrick’s watch, the BIS willingly accepted looted Nazi gold, carried out foreign exchange deals for the Reichsbank, and recognized the Nazi invasion and annexation of conquered countries. By doing so, it also legitimized the role of the national banks in the occupied countries in appropriating Jewish-owned assets. Indeed, the BIS was so indispensable to the overall Nazi project that the vice-president of the Reichsbank, Emil Puhl, who was later tried for war crimes, once referred to the BIS as the Reichsbank’s only “foreign branch.” In the closing months of the war, as American GIs fought their way across Europe, McKittrick was arranging deals with Nazi industrialists to guarantee their profits after the Allied victory.
Additionally, the following indictment from Wikipedia:
As a result of Nazi collaboration allegations, at the Bretton Woods Conference held in July 1944, Norway proposed the “liquidation of the Bank for International Settlements at the earliest possible moment”. This resulted in the BIS being the subject of a disagreement between the American and British delegations. The liquidation of the bank was supported by other European delegates, as well as the United States (including Harry Dexter White, Secretary of the Treasury, and Henry Morgenthau),[6] but opposed by John Maynard Keynes, head of the British delegation. Fearing that the BIS would be dissolved by President Franklin Delano Roosevelt, Keynes went to Morgenthau hoping to prevent the dissolution, or have it postponed, but the next day the dissolution of the BIS was approved. However, the liquidation of the bank was never actually undertaken.[7] In April 1945, the new U.S. president Harry S. Truman and the British government suspended the dissolution, and the decision to liquidate the BIS was officially reversed in 1948.
Fast forward to Today.  Would the very same elite banking interests not be behind the destabilization and financing of multiple military conflicts sprouting up all over the globe?  After all, the U.S. just finished squandering over $3 trillion endlessly tussling with a fanatical bunch of burka wearing nomads in the sparse mountains of Afghanistan for well over a decade.  In the end, what, and who the hell was all of that money really for?  Might it be supranational bank financing concerns funneling their central bank issued easy money government treasury funding directly into the military industrial complex.
MENA, after years of relative calm imposed by despotic regimes often legitimized by Western commercial interests, suddenly, all at once, seemingly out of nowhere, rose up in a spontaneous combustion of political awareness, the so called Arab Spring, which has brought as much disillusionment as promise.  What was really behind this?  While Syria, on the other hand, has been in a perpetual state of war due to ISIS insurgents supported by the U.S., Saudi Arabia, and Israel.  Iraq is on the verge of complete disintegration as the same western organized ISIS move in on Baghdad.  Libya is erupting, with American, British and French embassy’s being swiftly evacuated.  What gives?  Are all of these simultaneous regional conflicts simply a sheer coincidence? Further war financing requirements perhaps.
The Hamas / Israel connection has certainly duped many, even though it is historical fact that the creation of Hamas itself was funded and supported by covert elements of the Israel government.  Why did Israel put money and arms at the disposal of Muslim extremist groups like Hamas and ISIS, only to enter into brutal conflict with them later?  Again, are the international bankers involved here as well?  Why bother with inflation when you can create DeathFlation!
The Ukraine crisis is only further intensifying after the attack on Malaysian flight MH17. In just the past week, the EU has instituted serious economic and financial sanctions, fighting has become even more fierce in the ethnic Russian speaking regions, and Russia itself has been accused of firing heavy artillery into the war zone.Ukraine-Protest_Horo-1-e1392750277144 Moreover, the U.S. now claims that Russia has demonstrably violated the terms of the Intermediate Range Nuclear Forces treaty.  Astonishingly, assistant Secretary of State, Victoria Nuland recently proudly trumpeted that U.S. sponsored NGOs (Non Governmental Organizations) had spent over $5 billion fomenting political protest on the ground in Kiev, in order to destabilize and ultimately overthrow the former president of Ukraine, Victor Yanukovych.  Again, who or what institution actually facilitated the financing of such an excessive amount of funds, and why?
Is it simply the usual bane of proxy war profiteering which is underway, or is something more sinister also a foot here.  Is the western central bank hegemonic monetary system attempting to further assert itself on the arising and defiant BRICS?  Moreover, since all out military conflict is no longer a viable option, due to assured mutual destruction from imposing nuclear arsenals, another most effective avenue for global domination would be via strategic financial and economic power.  Is this what the international banking cabal is now seizing upon?
21aPic1B2102124325_zz_anthems-cover-2007-smallA significant example of a BIS sponsored strategic global economic initiative, orchestrated by its self-serving megalomaniac banking power brokers, was its behind the scene’s role in devising and pushing forward the concept for a European Union with a single common currency.   It established a new role for itself in the postwar world, first as the financial mechanism for American efforts to rebuild Europe, and then for the accelerating project of European unification.  Some believe that the trans-national vision of a modern Europe ruled by mandarins in Brussels and Basel was originally hatched and concocted in a secret meeting held at the Bank for International Settlements.
Clearly, the driving force behind the financial engineering ambitions of the elite global bankers at the BIS has always been the same.  Namely; to further establish themselves as the indispensable international financial body, whose ultimate authority supersedes any national jurisdiction, thereby interminably dismantling and diminishing the sovereignty of the individual nation states.  In other words, they consolidate their subjugation of the local citizenry by championing the benefits of economies of scale which only globalization can achieve, and, of course, that only their financial frameworks can administer.
The UN, EU, NAU, IMF, WBC, CFR, NATO, WTO, OECD, WHO, and a myriad other IGOs (Intergovernmental organizations), all use much the same modus operandi as the BIS to expand their dominion.  In the end, it’s mostly about their self-seeking interests, entitled importance and institutional aggrandizement.  Throughout history, elite groups of men have always attempted to subjugate the masses, this is no different.  The once magnificent self determined Republic of the United States, for the people of the people, must stop these globalists dead in their tracks, before their self-serving hubris and unrelenting drive for hegemony brings unsuspecting Americans down to their knees.
Carroll Quigley, the renown academic historian, in his monumental tome Tragedy and Hope published in 1966, clearly identified the underlying scheme of this scourge. images (1) Having studied the rise and fall of civilizations, Quigley found the explanation of disintegration in the gradual transformation of social “instruments” into “institutions”, that is, transformation of social arrangements functioning to meet real social needs into social institutions serving their own purposes regardless of real social needs.
Many discerning Americans are certainly aware of the prevalence of the false Left/Right paradigm in American politics which is clearly driven by the buying off of politicians via an army of private lobbyists on behalf of avaricious corporate institutions and demanding special interest groups.  There is also a solid case to be made that our multinational banking institutions directly serve to promote this debilitating duplicitous demagoguery.  The once esteemed news networks have also degenerated into a cronyism cesspool of unabashed corporatism, no longer reporting news, but rather dishing out distilled disinformation and various valueless vicissitudes. Institutional disintegration indeed, Mr. Quigley was flat out dead right back in 66′!
Professor Carroll Quigley directed his poignant prescient prose specifically at the Bank for International Settlements:
“The Power of financial capitalism had a far reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalistic fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks, which were themselves private corporations. Each central bank sought to dominate its government by its ability to control treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence co-operative politicians by subsequent rewards in the business world.”
banksters6The ominous premise of this lengthy piece is precisely why the United States should become increasingly alarmed as these globalists continue to extend their supremacy.  Just as the once proud independent self governing sovereign nation states of Europe have become subservient to an autocratic international banking class, which promptly imposed a common currency, and is now actively crafting a fiscal union to complete its ascendancy and authority, the United States also is a prime target in the cross hairs of these very same avaricious financial oligarchs.
Make no mistake, the likes of the BIS, IMF, IFC, OECD and the World Bank are on a maniacal maraudering mission to subvert the existing U.S. monetary system, via a crafty and cunning central bank, in our very own complicit Federal Reserve.
In my view, this is the only valid explanation as to why we are systematically being driven off a fiscal and monetary cliff, almost as if we were preforming a national financial and economic Hari Kari ritual.  At this point, they have mandated a market cataclysm and deliberately determined the dollar’s demise. To be sure, the BIS and IMF are waiting in the wings with a new global means of exchange based on an archetype of the presently established SDR mechanism.
Why else would the BIS be stating the following today regarding the FED’s current monetary measures?
“The temptation to postpone adjustment can prove irresistible, especially when times are good and financial booms sprinkle the fairy dust of illusory riches. The consequence is a growth model that relies too much on debt, both private and public, and which over time sows the seeds of its own demise. To return to sustainable and balanced growth, policies need to go beyond their traditional focus on the business cycle and take a longer-term perspective – one in which the financial cycle takes centre stage…They need to address head-on the structural deficiencies and resource misallocations masked by strong financial booms and revealed only in the subsequent busts. The only source of lasting prosperity is a stronger supply side. It is essential to move away from debt as the main engine of growth.”
images (3)Ask yourselves, if Janet Yellen sits on the Board of Directors of the BIS, why have she and all her 21st century predecessors been conducting a brazen, unproven, uncharted and surely precarious monetary policy with complete abandon, that totally contradicts the sage and proven advice, judiciously laid out above, by the very institution which is central to monitoring, regulating and advising on global central bank direction.
Something stinks here, it just doesn’t add up. Is our Federal Reserve, whose top leadership also happens to be elite members of the BIS banking cabal club, actually double dealing here?  Setting us up for a great fall, so the financial globalists can come sweeping in to our rescue, installing themselves as our monetary overlords?  Far fetched, you say? Remember, this is well within their past predatory precepts, and typical of their self-serving Modus Operandi!
If  we can’t convince you, perhaps the view of billionaire hedge-fund legend Paul Singer will:
We were astounded to learn that the board of the BIS is comprised of none other than the heads of the major central banks of the developed world! Yes – Yellen, Draghi, et al! So, these central bankers are simultaneously failing to tell their respective governments that (1) monetary policy has done enough; (2) monetary policy is causing massive risks and distortions; and (3) political leaders must grab the reins and make structural changes, these same central bankers are authorizing BIS reports that will enable them to say, after the coming multifactor crisis, that they told us about the risks. 

president-andrew-jackson

We wonder who from the Fed authorized the report, and why they haven’t shared these harsh views of Fed policy in the FOMC meeting minutes or the endless public speeches by Fed officials. It is duplicitous for the Fed to authorize the views in the BIS report yet keep quiet about them elsewhere. But then, the Fed has never accepted much responsibility for the 2008 crisis, despite its decisions to keep interest rates artificially low for an extended period of time, to do a poor job of regulating the banking system and to abet Fannie and Freddie in their utter irresponsibility. History rhymes. The Fed has created the fuel for another crisis, seems to know it judging by the BIS report, and yet is covering itself with an “I told you so” report from the BIS rather than changing course.
In closing, the following list identifies the current Board of Directors who preside over the Bank for International Settlements today, see if you recognize any of these supranational scoundrels.
The BIS Board of Directors:
Chairman: Christian Noyer, Paris Mark Carney, London Agustín Carstens, Mexico City Luc Coene, Brussels Jon Cunliffe, London Andreas Dombret, Frankfurt am Main Mario Draghi, Frankfurt am Main William C Dudley, New York Stefan Ingves, Stockholm Thomas Jordan, Zurich Klaas Knot, Amsterdam Haruhiko Kuroda, Tokyo Ann Le Lorier, Paris Stephen S Poloz, Ottawa Raghuram Rajan, Mumbai Jan Smets, Brussels Alexandre A Tombini, Brasília Ignazio Visco, Rome Jens Weidmann, Frankfurt am Main Janet L Yellen, Washington Zhou Xiaochuan, Beijing
Banking-Elite-infograph

  The Globalists are indeed on the move……………

All the Presidents Bankers by Nomi Prins

This will be my next read for sure!  Listen to the Jack Blood show interview.  In the 2nd half he interviews Nomi Prins.  Amazing amount of information is covered in less than 1 hour.

 Buy on Amazon

The Jack Blood Show – April 14 2014

April 14, 2014 by   
Filed under Archive

Who rules America?

All the Presidents’ Bankers is a groundbreaking narrative of how an elite group of men transformed the American economy and government, dictated foreign and domestic policy, and shaped world history.

Culled from original presidential archival documents, All the Presidents’ Bankers delivers an explosive account of the hundred-year interdependence between the White House and Wall Street that transcends a simple analysis of money driving politics—or greed driving bankers.

Prins ushers us into the intimate world of exclusive clubs, vacation spots, and Ivy League universities that binds presidents and financiers. She unravels the multi-generational blood, intermarriage, and protégé relationships that have confined national influence to a privileged cluster of people. These families and individuals recycle their power through elected office and private channels in Washington, DC.

All the Presidents’ Bankers sheds new light on pivotal historic events—such as why, after the Panic of 1907, America’s dominant bankers convened to fashion the Federal Reserve System; how J. P. Morgan’s ambitions motivated President Wilson during World War I; how Chase and National City Bank chairmen worked secretly with President Roosevelt to rescue capitalism during the Great Depression while J.P. Morgan Jr. invited Roosevelt’s son yachting; and how American financiers collaborated with President Truman to construct the World Bank and IMF after World War II.

Prins divulges how, through the Cold War and Vietnam era, presidents and bankers pushed America’s superpower status and expansion abroad, while promoting broadly democratic values and social welfare at home. But from the 1970s, Wall Street’s rush to secure Middle East oil profits altered the nature of political-financial alliances. Bankers’ profit motive trumped heritage and allegiance to public service, while presidents lost control over the economy—as was dramatically evident in the financial crisis of 2008.

This unprecedented history of American power illuminates how the same financiers retained their authoritative position through history, swaying presidents regardless of party affiliation. All the Presidents’ Bankers explores the alarming global repercussions of a system lacking barriers between public office and private power. Prins leaves us with an ominous choice: either we break the alliances of the power elite, or they will break us.

#AuditTheFed Close to Majority in the House

As we push to pass 200 and get a majority (218) to sign on the bill once again, I hope you’ll sign your petition to your U.S. Representative today. 

The House version of Audit the Fed (H.R. 24) stands at 195 cosponsors, just 23 short of a majority.

If you’ve already signed it, please forward it to family and friends so we can mobilize as many Americans as possible and keep building our momentum! 

For more information on why our nation can’t afford to wait any longer to Audit – and then END – the Fed, please see my original email below. 

In Liberty,

Ron Paul 
Chairman 



Campaign for LibertyDear Andrew,

“Monetary morphine.” 

That’s how some are now referring to the Fed’s risky and unprecedented print-now, ask-questions-later policies. 

As a doctor, I can tell you morphine is one of the most dangerous and addictive substances known to man. First, just a little of the opiate masks a patient’s pain. But then, addicts crave more and more until overdoses result in death.

Andrew, the Fed has tried hard to mask many of our economic problems for years now. But today, the first cracks are starting to appear in what I believe will be nothing less than a Federal Reserve-created, global financial meltdown

And every second Congress waits to finally audit and EXPOSE the Federal Reserve – the first step toward finally ENDING the Fed once and for all – the problems get bigger and bigger

That’s why it’s critical you sign your Audit the Fed petition right away. 

As you’ll see, this petition urges your U.S. Representative to do everything in their power to achieve a standalone, roll call vote on the Audit the Fed bill (H.R. 24), including cosponsoring it if they haven’t yet done so. 

As Senate Majority Leader Harry Reid showed us during Fed Chair Janet Yellen’s confirmation fight – when he blatantly broke Senate rules rather than allow so much as a vote on Audit the Fed – he’ll resort to any dirty trick in the book to stop you and me

But the truth is, there’s never been any defense in Washington, D.C. against a tidal wave of angry Americans DEMANDING political action – or politicians’ hides. 

That’s exactly why I’m counting on your action today to help me create that tidal wave of outrage before it’s too late



You see, just recently, news broke that Wall Street bigwigs, including George Soros’ investment firm, held off-the-record private meetings with Fed officials, where they urged a new round of Fed “intervention” to prop up Europe. 

Apparently, the TRILLIONS in bailouts and secret loans the Fed has issued to overseas banks in recent years aren’t working. 

Now, some foreign banks are fearing old-fashioned panics and demanding depositors show proof of need just to withdraw “large amounts” of their own money! And I’m afraid it’s only a matter of time until this madness reaches our shores. 

Today the U.S. dollar acts as the world’s “reserve currency” – the currency most often used in international trading. 

This has encouraged our federal government’s monetary morphine high, enabling Congress to spend like drunken sailors as U.S. dollars – even when printed out of thin air – stay in demand around the globe

But as foreign economies crumble and stop needing U.S. dollars – and the Federal Reserve continues to print money like there’s no tomorrow – I truly fear an all-out, global financial catastrophe resulting in the collapse of the U.S. dollar

And our massive and growing $17.3 TRILLION national debt could end up wiping out every last shred of American wealth.

That’s why your action today is so critical



If you and I can FORCE Congress to Audit the Fed, the American people will finally see that the Federal Reserve System leads to: 

*** Ever-expanding Big Government boondoggles like “ObamaCare.” 

Now that politicians have figured out the Fed will just create money out of thin air to pay the bills if taxing and borrowing can’t make ends meet, the floodgates are wide open for even more of the statists’ utopian plans; 

*** Constant economic crises

The housing crisis and the resulting chaos is just one example of an economic bubble created by centrally planned interest rates and money manipulation; 

*** The destruction of the middle class

As fuel, food, housing, medical care, and education costs soar, everyone who is NOT on the government dole is forced to make do with less as the value of their money sinks; 

*** Currency destruction

History shows us that riots, violence, and full-scale police states can result when people finally realize their money isn’t worth the paper it’s printed on and REFUSE to accept it. 

That’s why it’s so important you help me turn up the heat on Congress today

I know that despite an outpouring of action by the American people during Janet Yellen’s confirmation hearing, Senator Reid flat-out REFUSED to allow a vote on Audit the Fed

But luckily for him, my ability to participate in the fight was limited by federal law. 

As a former Member of Congress, I was restricted on what I could say and do regarding legislation and grassroots mobilization for one year after leaving office. For example, I couldn’t even directly ask you to call Congress for or against a piece of legislation. 

But those restrictions were lifted on January 4. 

And with so much at stake, I’m more determined than ever to FORCE Congress to act on auditing the Federal Reserve

Without an audit, I’m afraid there could be no stopping the economic calamity you and I both sense roaring at us like a freight train. 

The good news is your action is proven to work. 

Just ten years ago, discussion of the Federal Reserve was limited almost solely to libertarian academics and a few of us in Congress. 

Today, it’s a MAJOR national political issue – one supported by nearly 75% of the American people. 

And it’s your action in support of Campaign for Liberty that put it there



Thanks to your help, my Audit the Fed bill passed the U.S. House with an incredible bipartisan three-fourths majority in 2012. And if you and I can create another massive tidal wave of action in 2014, I’m convinced there will be no stopping us

But there’s no time to waste. You and I have a LOT of work to do. 

And it all starts in the House. 

Today, the House version of Audit the Fed (H.R. 24) stands at 195 cosponsors, just 23 short of a majority

If you and I can pressure a majority of House members to cosponsor Audit the Fed, pressure will dramatically increase on the House Leadership to schedule a vote. 

I’m confident, once a vote is scheduled, the bill will sail through the House yet again. 

At that point, will Senator Reid and President Obama really be able to say “NO” to holding a vote? 

Well, 2014 is an election year. 

As I mentioned earlier, Audit the Fed is supported by nearly 75% of the American people. 

“Thanks” to ObamaCare, NSA spying, and a host of other issues, the political winds are already blowing against President Obama and Senator Reid. 

If they want to add Audit the Fed to the mix, it’ll be their political funeral in 2014

The American people are FED UP with Big Government politicians trying to run their lives. 

And more and more now understand Federal Reserve banksters aren’t running our economy anywhere but into the ground. 

That’s why it’s so important you sign your petition IMMEDIATELY

My hope is to contact up to 12 million Americans from coast-to-coast to generate additional petitions to Congress. 

That alone will dramatically turn up the heat on Congress to take action. But I’m not going to stop there. 

In fact, I’ve instructed Campaign for Liberty staff to craft a $500,000 Internet, email, and TV mobilization campaign. 

Not only that, but it seems just about every other day, I get a call from another news network asking for an interview. 

Now that my restrictions have been lifted, I’m going to come after the Fed with everything I have

But I’m just one man. And I know what it’s like to stand alone. 

For almost 40 years, I’ve fought to restore constitutional principles in America. 

I’ve warned about the dangers of the Fed. 

Today, as much as I hate to see it, my predictions are coming true

But I know I’m not alone any more. The support of good folks like you who are willing to take action to save our beloved Republic gives me hope. 

So won’t you please sign the petition to your U.S. Representative at once



And, if you can, please agree to your most generous contribution

Campaign for Liberty doesn’t have the money in the bank to fund everything that needs to be done. 

And I know without money, all our best-laid plans are nothing but words on paper. So I’m counting on you to help me turn up the pressure on Congress. 

Won’t you please agree to a generous contribution of $30

I know I’m asking you to stretch. 

But I also know you understand just how important it is we finally Audit the Fed and FORCE our federal government to give up its addiction to “monetary morphine.” 

Of course, if $30 is just too much, please give what you can. 

Perhaps you can give $20 or $10? 

Regardless of what you can give, please act right away. 

Please sign your petition and agree to your most generous contribution of $30, $20, $10, or whatever you can afford IMMEDIATELY

In Liberty,

Ron Paul 
Chairman 

P.S. Every second Congress waits to finally audit and EXPOSE the Federal Reserve – the first step toward finally ENDING the Fed once and for all – the problems get bigger and bigger

Now that my legal restrictions have been lifted, allowing me to turn up the pressure on Congress higher than ever,Campaign for Liberty is doubling down on its efforts to Audit the Fed before the Federal Reserve destroys every last shred of American wealth

That’s why it’s critical you sign your petition to your U.S. Representative and make your most generous contribution of $30, $20, or at least $10 TODAY

The Federal Reserve Has Destroyed America

There are hundreds of whistleblowers out there screaming at the top of their lungs trying to tell the world what is going on inside the banks and the Federal Reserve.  Very few are listening.  Isn’t time you heard the evidence?

Obama’s #SOTU speech tonight may talk about Treasury IRA’s, another way to get your money locked up to pay for government debt.

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Wondering who will take over the mantle of Treasury bond buyer now that the Fed is stepping away? Curious of the government’s next steps towards repression and control of wealth? Wait no longer. As the AP reportsPresident Obama will unveil a new retirement savings plan tonight that allows first-time savers to buy US Treasury bonds tax-deferred for retirement. Of course, this is not the mandatory IRA that remains somewhat inevitable (as the muddle-through fails) but is certainly a step in the direction we alerted readers to a year ago by which thegovernment generously offers to help manage your retirement savings. Two words spring to mind… remember Poland.
Eager not to be limited by legislative gridlock, Obama is also expected to announce executive actions on job training, retirement security and help for the long-term unemployed in finding work.
Among those actions is a new retirement savings plan geared toward workers whose employers don’t currently offer such plans.
The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into a traditional IRAs, according to two people who have discussed the proposal with the administration. Those people weren’t authorized to discuss it ahead of the announcement and insisted on anonymity.
Of course, this is not what the CFPB suggested a year ago… We’re sure the government is just trying to protect your retirement account from terrorists. From Bloomberg:
The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.
The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

Presenting: the MyRA, and since it offers “guaranteed return and no risk” we now know where all the Fed’s bond trades will go to work once QE ends.

From the president:
Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRAIt’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can
Or put another way – if you like your retirement account you can keep your retirement account.
And just like that, the “automatic” continuity to the Fed’s Quantitative Easing is ensured.