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CRISI DEL SISTEMA MONETARIO: LE NOSTRE PROPOSTE

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 Non pagare il pizzo del signoraggio è una questione d'onore

e di dignità.

Attualità: SCEC news - CSM news - Altre news
Petizioni

Appuntamenti
Riassunto del sistema




Attualità      
(Lo sapevate che il petrolio costa oggi meno che negli anni 1980? Chi sta barando sul prezzo della benzina?)
See also: Oil Aid, tracking subsidies to the international oil industry: ITALY
dollars euros oil and gold 
ms08 SCEC NEWS maggio 2008:



Napoli: giovedì 29 maggio, alle 20.30 a piazza Bellini, sotto la statua, apre per la serata la "BANCA DELLO SCEC", una banca dove chi entra ne esce più ricco, più libero, e più consapevole

Il futuro è nella spesa a km. Zero e nello “sconto che cammina” - Diario di Castrovillari, pag.3, 10 maggio 2008
SCEC al Comune di Castrovillari: martedì 13 maggio in Consiglio comunale - Giornale di Calabria
Il comune di Castrovillari (CS) ha poi deliberato, all'unanimità, la partenza del progettoSCEC

Progetto SCEC: terza puntata  sul canale STUDIO 1 (video youtube) -
mercoledì 28 maggio 2008, dalle 18.30 alle 19.10
Studio 1 - seconda puntata
Da sinistra, il conduttore Martinelli, Saba e Tomaselli

Aprilia: In città presto la moneta di «solidarietà» - Il Tempo, 27 maggio 2008

Mostra-Convegno 23-25 maggio "Terra Futura" a Firenze: Presso l'attico del Padiglione Spadolini sarà presente ArcipelagoSCEC Toscana che illustrerà il progetto SCEC ai visitatori raccogliendo adesioni e distribuendo i buoni

Buoni Locali di Solidarietà a Brescia - 25 maggio 2008
BLS a Brescia

Incontro col Sindaco di Bergamo, Avv. Roberto Bruni - 24 maggio 2008
Roberto Bruni
Pagine Auree di Arcipelago SCEC Umbria - 22 maggio 2008
Arcipelago Umbria

Lo Scec, vantaggi per negozianti (video YouTube) - Arcipelago Toscana, 20 maggio 2008

Incontro con l'assessore al Bilancio, Tributi e Politiche Fiscali del Comune di Verona - 15 maggio 2008
Pier Luigi Paloschi
Incontro con i commercianti associati al Circuito SCEC presso IntraMoenia, Piazza Bellini, Napoli - Giovedì 15 maggio ore 20
Scec, un miracolo possibile - Giuseppe Punzi, Parvapolis, 15 Maggio 2008
Arriva il "Talento", la moneta di Beppe Grillo - Andrea Gatta, TorinoCronaca, 14 maggio 2008
Arcipelago Valsesia: OGNI MERCOLEDI' ALLE 19 IN ONDA SU TELEMONTEROSA IL PROGETTO ARCIPELAGO SCEC IN VALSESIA - 12 Maggio 2008
Progetto SCEC: seconda puntata  sul canale STUDIO 1 di Treviglio (video, 240MB) -
lunedì 12 maggio 2008, dalle 18.30 alle 19.10
HaAtzmaut
Scambio di SCEC durante Yom HaAtzmaut - Castello Sforzesco, Milano, 11 maggio 2008
Conferenza dell'economista Nino Galloni sul signoraggio bancario e sull'utilizzo di buoni locali (video) - Caltanissetta 11 maggio 2008
FALSI INCUBI - Pierluigi Paoletti, Centrofondi, 09 maggio 2008
Commercio tra PMI: Proposta di una Piattaforma per un Sistema Econometrico Comunitario - Marco Saba, Centro Studi Monetari, 8 maggio 2008
Da Napoli a Trento: SCEC, lo Sconto ChE Cammina - Armando C. Tavano , Corriere dei Caraibi, 04.05.08
Progetto SCEC: prima puntata  sul canale STUDIO 1 di Treviglio (video) - 24 aprile 2008, dalle 18.30 alle 19.10
COMUNE DI TRENTO: ORDINE DEL GIORNO RELATIVO AI PROVVEDIMENTI DI SOSTEGNO ECONOMICO PER LA POPOLAZIONE DEL COMUNE DI TRENTO: PROGETTO SCEC, UN BUONO LOCALE DI SOLIDARIETA' ALTERNATIVA/SOSTITUTIVA L'EURO - 23 aprile 2008



CSM NEWS maggio 2008:                              IL NUOVO SITO DEL CASO "FORD CONNECTION"

Denis Robert e Marco Saba, a Lecco
Nino Galloni: Ma che crisi è? (audio) - Nudo e Crudo, Radio Rai1, 22 maggio 2008
Real-world economics review (Formerly the post-autistic economics review) - Issue no. 46, 20 May 2008

Bancopoli: conti correnti, facciamo il punto - a cura di Marco Saba, Centro Studi Monetari, 18 maggio 2008
Nino Galloni da Corrado Augias: Le ragioni della crisi finanziaria e i dubbi circa la questione mutui (video) - Le Storie, RaiTre, 6 maggio 2008
Galloni da Augias


Altre News maggio 2008:               (Nel 2007, il tasso medio di occupazione Ue è stato meno del 66% - Fonte: Rinascita)


The Great Oil Swindle: How Much Did The Fed Really Know? - By Mike Whitney, 5-31-8

The Dawn Of American And World Freedom Is Close - By Benjamin Fulford, Exclusive to Rense.com, 5-31-8

Monnezzopoli/2 - Beppe Grillo, 31 Maggio 2008

Offshore-Banken: Der Fall Moonstone Trust - Von Gian Trepp, WOZ vom 15.05.2008

Politicians: Corporate Courtesans - By Deanna Spingola, May 31, 2008

[Clearstream] La SCIENTOLOGIE et son HYDRE: "WISE" - LePost, 31/05/2008
Quelle est l'influence de la scientologie dans la mondialisation? A quel niveau répand- elle son POUVOIR? Niveau politique, économique, social, culturel et spirituel? Comment s'étend-elle de manière insidieuse et affable, d'abord, pour convaincre et persuader, afin, ensuite d'étendre sa sphère d'influence et, alors, de mettre les structures et les hommes sous sa coupe?

Nicola Bravetti, le banquier des Berlusconi, arrêté par la DIA - par Raphaël Gardel, Mondialisation.ca, Le 27 mai 2008
C'est bien auprès du siège milanais de la Arner Bank que Marina et Piersilvio Berlusconi, la fille et le fils du président du Conseil italien, ont déposé et confié en gestion quelque trente-sept millions d'euros en provenance de leurs holdings personnel
Nicola Bravetti
Nicola Bravetti

Financial Crash Will Dominate Election - by Lyndon H. LaRouche, Jr., Executive Intelligence Review, May 30, 2008
By the time of the Summer Democratic Party convention, the reality of this global financial and economic catastrophe will be clear to all, and will be the dominant issue in the minds of all American citizens

REVOLUTION AND MARKET CYCLES - by Clif Droke, Financial Sense, May 30, 2008
Typical bombast from the lunatic fringe,” is how some have responded to the sudden appearance of revolutionary furor. In view of the market cycles, however, the longer-term implications behind this kind of talk can’t be so easily dismissed

Chinese Secret Society Warns US, EU - By Benjamin Fulford, rense.com, 5-30-8

Pietro Modiano, direttore generale della banca INTESA SANPAOLO, new entry nella Commissione Trilaterale
The Trilateral Commission — one of the three most powerful globalist groups in the world — held closed-door meetings right here in Washington, D.C. from April 25 to 28. True to form, those members of the media who knew about the meeting — or were themselves participants in the proceedings — refused to discuss what went on inside or report on the attendees
Ex pari opportunità
Barbara Pollastrini, moglie di Modiano ed ex ministro delle pari opportunità...

Irish referendum could scupper EU treaty - By Gordon Rayner, Telegraph, 31/05/2008
Most tellingly of all, the new Irish premier, Brian Cowen, has admitted he hasn't read all of the 287-page treaty, and nor has Ireland's EU Commissioner, Charlie McCreevy, who said no sane person could read it from cover to cover

Saudis Agree with Paulson on Keeping Dollar Peg - John Brinsley, Bloomberg, May 31, 2008
U.S. Treasury Secretary Henry Paulson and Saudi Arabian Finance Minister Ibrahim Al-Assaf agreed that the Gulf kingdom benefits from keeping its currency pegged to the dollar... Ha ha ha ha ha !!! Too much, give us a break

Kohn Signals Wall Street May Get Permanent Access to Fed Loans - By Scott Lanman and Anthony Massucci, Bloomberg, May 30, 2008
Wall Street may get permanent credit line at Fed and central banks are reported to be negotiating to accept each other's junk collateral

Bankitalia, Berlusconi: in discorso Draghi opinioni mie - Reuters, 31 Maggio 2008
Ora basta nazionalizzarla, imputando allo Stato la vera rendita monetaria, ed il gioco è fatto: 100 miliardi di euro risparmiati
Berlusconi

Considerazioni finali del Signor Mario Draghi sul 2007 - 31-05-2008

EADS: Forgeard, gros porteur en examen - ALEXANDRA SCHWARTZBROD, Libération, 31 mai 2008
Aéronautique. Après l’ex-patron d’EADS, une quinzaine de dirigeants sont dans le viseur des juges

Dossier Banque et Caisse d'Epargne de l'Etat Luxembourg : la banque de tous les scandales - L’investigateur 432 du 30 mai 2008
Jean-Claude Finck collectionne les postes dans les conseils d’administration comme d’autres personnes les timbres. C’est de la folie : le chef de la BCEE gagne au moins 500 000 euros par mois.
-Juncker doit faire le ménage devant sa propre porte
-Salaire de base + salaire de direction + dividendes + frais professionnels
-Œuvres d’arts et gérants déchus
-Faux pas des dirigeants
-Drôles de méthodes
-Champions des cumuls
-Relations particulières
-Projet saboté
-Des tableaux de grande valeur
-Quand Madame fait des affaires avec Monsieur
-Népotismes
-Audits familiaux
-C’est le bordel dans les agences
-Primes d’assurance mirobolantes
-Refus de crédits suspects
-Des WC pour 20 000 euros
-etc,etc, etc…
Dossier BCEE

Shakeup at Morgan Stanley sparks analyst resignations - Dow Jones Newswire, 30 May 2008
Following a sweeping round of stock-analyst layoffs at Morgan Stanley, the company's two associate directors of U.S. research have resigned

BNP Paribas custody chief wants half the world - Ben Wright, Financial News, 30 May 2008
Jacques-Philippe Marson, chief executive of BNP Paribas Securities Services, is quick to point out that neither he nor his company is as French as their names suggest they are

THE ECONOMY WILL COLLAPSE THIS SEPTEMBER 2008!!! (VIDEO PART 1)
THE ECONOMY WILL COLLAPSE THIS SEPTEMBER 2008!!! (VIDEO PART 2)
THE ECONOMY WILL COLLAPSE THIS SEPTEMBER 2008!!! (VIDEO PART 3)

05/30/08 - A Worrisome Economic Understatement - by The Mogambo Guru
"Monetary policy is so loose that real interest rates (the nominal interest rate less the rate of inflation) are less than zero, and they think it is 'worrying'? Hahahaha! Talk about British reserve and understatement! Hahahaha! Wow!"
Inflation Adjusted Oil Price
Due dollari al barile!

TEX AND THE CITY - di Eugenio Benetazzo, 30 maggio 2008
Tex vive in camper da quasi due mesi: la banca per la quale lavorava, un colosso del sistema bancario mondiale, soffre, sta male, vacilla, è in agonia finanziaria ed ha per questo iniziato a ristrutturarsi per ottimizzare i costi di gestione industriale al fine di sopportare l'implosione del più grande bubbone finanziario della storia economica, che presto affosserà per sempre i già malconci bilanci bancari

Cayne apology marks the end of Bear Stearns - The Wall Street Journal, 30 May 2008
Bear Stearns, a powerhouse on Wall Street for nearly nine decades, on Thursday ceased to exist in a meeting that lasted about 11 minutes

Ex-UBS private banker to plead guilty in US tax-evasion case - The Wall Street Journal, 30 May 2008
Bradley Birkenfeld, a former UBS private banker facing prosecution for participating in a US tax-evasion scheme, is scheduled to enter a guilty plea next month in federal court, and sources said the banker will aid a US Justice Department probe aimed at the Swiss-based bank

Former E&Y partner charged with insider trading - The New York Times, 30 May 2008
James Gansman, a former partner at Ernst & Young, was on Thursday charged with insider trading, accused of tipping off a friend about pending deals involving the firm’s clients, including the $17.6bn (€11.4bn) buyout of Freescale Semiconductor led by Blackstone

Top financing bankers exit Morgan Stanley - Harry Wilson, Financial News, 29 May 2008
Three of Morgan Stanley's most senior leveraged finance bankers are understood to have left as the US bank becomes the latest to scale back lending activity following a collapse in deal activity in the past nine months

La carota detronizza l'euro - Michele Serra, L'Espresso, 16 maggio 2008

IS OUR ACCOUNTING SYSTEM FLAWED? It may be insensitive to capital destruction - Antal E. Fekete, May 23, 2008
It is clear that the recent “sub-prime crisis” is a delayed effect of the unwarranted relaxation of accounting standards back in 1914

05/29/08 - The Dollar Aligned Dollar - by The Mogambo Guru
"And in case you want to know if the dollar is aligned with the dollar, then - Hahaha! - yes, the dollar is most certainly aligned with the dollar, and therefore, as the Economist magazine says, we well see 'the biggest price rises.'"

Fed governor resigns to pursue academic interests - The Boston Globe, 29 May 2008
Federal Reserve governor Frederic Mishkin, one of chairman Ben S. Bernanke's chief supporters for the steepest interest-rate cuts in two decades, resigned to return to Columbia University

Fink to quit Man Group as deputy chairman - Financial Times, 29 May 2008
Stanley Fink, who headed Man Group for seven years, is set to leave his position as deputy chairman in July, the hedge fund management group declared on Thursday

Petrolio: l'Indonesia esce dall'Opec - Corriere della Sera, 28 maggio 2008
Per poter aumentare la quantità offerta ed abbassare i prezzi sui mercati mondiali

IL CASO DEGLI ASSEGNI SOCIALI: Pensioni gratis agli stranieri, è boom - Pier Luigi Salinaro, Gazzetta di Modena, 21 maggio 2008
Senza aver mai versato contributi incassano 7.156 euro l’anno

05/28/08 - Fiat Ruination - by The Mogambo Guru
"As the solid foundation of your True Mogambo Enlightenment (TME), you have the fact that not once in the 4,000-year history of man and money has this 'fiat money' crap NOT led to total ruination. Not once. Not even close."

The Shell Game - By : Darryl Robert Schoon
Modern economics is not raket science. In fact, it’s not science at all. It’s a game, a confidence game...

Il dovere delle Istituzioni - Antonio Di Pietro, 28 maggio 2008
"...si affidano a una società di capitali le sorti del bilancio dello Stato, senza operare alcun controllo, senza che lo Stato intervenga! Alcun organo dello Stato: né il Parlamento, né il Governo, né gli organi di controllo come la Corte dei conti o la Ragioneria dello Stato, che pure dovrebbero apporre il visto; nulla di tutto ciò viene fatto e una società di capitali non fa altro che decidere a chi dare in concessione un bene non suo, ma dello Stato, di cui essa è concessionaria!"

Weimar Inflation in America - James Turk, May 26 2008
recessione

More people are selling bling to pay bills - KERRY HALL, The Charlotte Observer, May. 28, 2008

EVEN THE MEDIA IS LAUGHING - by Monty Guild & Tony Danaher, Guild Investment Management, May 27, 2008
U.S. INFLATION WAS REPORTED AT 0.2% FOR APRIL... EVEN MAINSTREAM COMMENTATORS ARE LAUGHING AT THE U.S. GOVERNMENT STATISTICS

Morgan Stanley equities chief quits - Phil Craig, Financial News, 27 May 2008
The head of Morgan Stanley Investment Management’s London equities team, which is responsible for at least $40bn (€25bn) of client assets, has resigned

05/27/08 - All Sell and No Buy - by The Mogambo Guru
"I can see by the look of horror on your face that you have heard enough today. We'll take it up again tomorrow, or whenever I sober up after hearing this Awful, Awful News (AAN) myself. Brrr! The blood runs cold!"

05/26/08 - Inflationary Tortillas - by The Mogambo Guru
"Consumers are suffering because the stupid European governments boosted spending for a decade or more, the money financed by debt, and it is all of this spending that has made the purchasing power of the euro to fall."

[Clearstream] Une pensée Bibi - 27.5.08

Former fund manager convicted of fraud commits suicide - Chicago Tribune, 27 May 2008
Kirk Wright, a former hedge fund manager convicted in a multi-million dollar investment fraud whose victims included professional football players, has committed suicide in jail, an official said on Sunday

Asset Management: CSX case likely to plug hedge fund disclosure loophole - New York Post, 27 May 2008
A looming decision in a heated lawsuit brought by railroad giant CSX Corp could shut down a loophole used by activist hedge funds to hide their stake from the market

Buffet see US already in recession - New York Post, 27 May 2008
Former fund manager convicted of fraud commits suicide - Chicago Tribune,
Kirk Wright, a former hedge fund manager convicted in a multi-million dollar investment fraud whose victims included professional football players, has committed suicide in jail, an official said on Sunday

Rising Ripoffs: Thefts of manhole covers increase as metals prices soar - Jamie Reno, Newsweek, May 19, 2008
In the last year a staggering 600 manhole covers have been swiped by thieves in Philadelphia


U.K. May House Prices Fall for an Eighth Month, Hometrack Says - By Brian Swint, Bloomberg, May 26, 2008
...and will probably drop further

Too Late To Stop Bank Failures - Mish's Global Economic Trend Analysis, May 25, 2008
If the current economic slowdown deteriorates into a recession on the scale of those from the 1980s and early 1990's, the number of failures will be much higher this time around -- probably as high as 300 of them

Basic Income: Namibians line up for free cash - By Frauke Jensen, BBC, 23 May 2008
If the pilot project succeeds within the next two years, BIG could become a national provision for all people under the pension age of 60

Comunicato politico numero dodici: il delirio - Beppe Grillo, 24 maggio 2008
delirio

Ora, tutti un po’ tremontisti. Senza dirlo. - Maurizio Blondet, Effedieffe, 24 maggio 2008

Message non personnel - Denis Robert, 23.5.08

Book: Kralievstva kazara, by Dejan Lucic, 2008
The leading banks, such as Banca Intesa, Credit  Agricole, Unicredit group, Societe Generale are controlled by the Rothshilds

US traders prefer to keep their dark pools in the shadows - Eugene Grygo, Financial News, 23 May 2008
The number of dark pools of non-displayed liquidity is growing, reflecting the popularity of these venues for anonymous block trading that sidesteps market impacts

La grande depressione in USA: 7 milioni di morti - Maurizio Blondet, Effedieffe, 23 maggio 2008

It's not an Oil Crisis it's a Dollar Crisis - Peter Schiff, 321gold, May 23, 2008
The collective belt tightening is simply the down payment on the Government's massive bailout of Wall Street investment banks and mortgage lenders. As the Fed creates money to buy bad mortgages and other shaky securities held by banks and brokerage firms, the value of the savings and wages of everyone on Main Street will continue to fall

Nation's Poorest 1% Now Controls Two-Thirds Of U.S. Soda Can Wealth - The Onion, Issue 44/21, May 23, 2008
The vast disparity in can-wealth distribution is difficult to understand for many Americans. Most people, according to the report, cannot relate to the lifestyles of the super-poor, who never have to go to work, pay a mortgage, or struggle to find money for rent
Soda Can Wealth

Former hedge fund manager convicted of fraud - The New York Times, 23 May 2008
Kirk Wright, a former hedge fund manager, was convicted on Wednesday of leading an investment scheme that caused clients, ranging from former NFL players to his mother, to lose millions of dollars

Silver manipulation: Ted Butler Interview - By: Theodore Butler & James R. Cook,  SilverSeek, 20 May, 2008

05/23/08 - Screwed Out of Buying Power - by The Mogambo Guru
"But maybe bondholders are so used to being screwed out of buying power that they don't even notice anymore. Or they are all taking drugs and don't realize that they are being screwed out of buying power."

05/22/08 - Applauding the Ridiculous - by The Mogambo Guru
"'For 25 years, the Fed has kept inflation at an average of 3.2 per cent a year - that should be applauded'! Hahaha! You will go a Long, Long Time (LLT) long time before you hear something so ridiculous! Hahahaha! Applauded! Hahahaha!"

Scandali finanziari - Di Solange Manfredi, 22 maggio 2008
Si è soliti pensare che il denaro, soprattutto quello virtuale, quello dei computer delle banche, non lasci traccia e sfrecci, alla velocità della luce, da un conto ad un altro, da un paradiso fiscale ad un altro senza lasciare traccia dei suoi passaggi. E’ falso

[survival kit] Start a self-sufficiency garden even in a cramped apartment - By Nancy Wolcott

Antonveneta: a processo Fazio e altri 17, patteggiano in 64 - Reuters, 23 maggio 2008

Antonveneta: Antonio Fazio rinviato a giudizio al 23 ottobre - Il Sole 24 Ore Radiocor, 23 maggio 2008
il Gup di Milano ha disposto il rinvio a giudizio dell'ex governatore di Bankitalia Fazio con l'accusa di aggiotaggio. A processo il prossimo 23 ottobre anche il neo presidente della commissione lavori pubblici del Senato, Grillo, l'ex numero uno della Popolare di Lodi, Fiorani, l'ex Ad di Unipol, Consorte, e altre 13 persone

Il "preambolo" del rinvio a giudizio di Fazio, Fiorani e Consorte - Il Foglio, 23 maggio 2008
In procura a Milano non nascondono il timore che l'ex governatore Bankitalia possa essere assolto

Bilderberg meeting at the luxurious Westfields Marriott resort at Chantilly, Va., near Washington’s Dulles International Airport - from Thursday, June 5, to Sunday, June 8, 2008

Ancora online tutti i redditi del 2005 (che sono solo serviti per pagare il signoraggio) - 23 maggio 2008

Obama’s Secret War Profiteering Tax - By Greg Palast for TomPaine.com/OurFuture.org, May 22, 2008

EU-wide 'super regulator' poses threat to City of London - By Ambrose Evans-Pritchard, Thelegraph, 22/05/2008
The financial world has accumulated a massive amount of fictitious capital, with very little improvement for humanity
Nicolas Sarkozy and Angela Merkel have called for measures to clamp down on 'speculation'

The Battle for America Has Begun - By Richard C. Cook, Strategic Forecasts, May 14, 2008
Extraordinary Times, Intentional Collapse, & Takedown Of The U.S.A. - By Richard C. Cook, rense.com, 5-1-8

Immoral Hazard - By Stephen Lendman, rense.com, 5-22-8

The Sad Tale of Lewis Ranieri and Franklin Bancorp - The Institutional Risk Analyst, May 22, 2008
The stock is trading < $1 vs. $21 a year ago and appears to be headed for a delisting, thus adding yet another name to the dozens of smaller banks delisted over the past year

Corruption in Australia - Tony Lee
Circa 1986, a hike of interest rates to 17.5 per cent by Hawke ~ Keating ~ Dawkins and Button saw many farmers kill their families before turning the gun on themselves ~ having lost the family farm which had been theirs for generations

Julius Baer International shuffles management - William Hutchings, Financial News, 22 May 2008
Julius Baer International, a UK asset management subsidiary of the Swiss private bank, has promoted two staff and hired a third into its most senior positions as the chief executive steps aside, 16 months after taking on the role

Top consumer banker quits Citigroup - Harry Wilson, Financial News, 22 May 2008
Citigroup has lost one of the most senior bankers in its UK business and the head of its consumer investment banking operation to Credit Suisse

FBI says more arrested In stock-lending case - Dow Jones Newswires, 22 May 2008
The Federal Bureau of Investigation on Thursday arrested four more individuals charged in an ongoing probe into alleged improper activity in connection with stock lending on Wall Street, a spokesman said

1932-1933: Famine Killed 7 Million People in USA - by Dmitry Lyskov, Pravda, 19.05.2008
People starve in the streets against the background of stores selling a variety of foodstuffs. At the same time, the US government tried to get rid of redundant foodstuffs, which vendors could not sell. Market rules were observed strictly: unsold goods should always be categorized as redundant and they could not be given away to the poor because it could cause damage to businesses

Bernard Baruch's hidden role in major events of the 20th Century, as discussed on the Jeff Rense program with guest Dick Eastman - February 21, 2007

China's Economic Conditions - Wayne M. Morrison, CRS Report for Congress, May 13, 2008

Mutui, consumatori: l'accordo non farà risparmiare - IlSole24Ore, 22 maggio 2008

GATA appeals Fed's denial of access to gold records - Gata.org, May 22, 2008

Europe deserves much better than the Lisbon Treaty - by Susan George, Spectrezine, May 22, 2008

Breaking the Chains - by Nick Dearden, Spectrezine, May 22, 2008
Ten years after landmark anti-debt protests at the G8, Nick Dearden explains why the fight must go on

Oil hits $135 a barrel on new supply concerns - PABLO GORONDI, The Huffington Post, May 22, 2008

Our money, their pockets - Beppe Grillo's Blog, 21 May 2008

Canadian court blocks $35.1bn BCE buyout -
Los Angeles Times, 22 May 2008
The sale of BCE, parent of telecommunications company Bell Canada, on Wednesday hit a snag when an appeals court sided with BCE bondholders who wanted to stop the $35.1bn (€22.2bn) takeover by a group led by Ontario Teachers Pension Plan

CLIMATE CHANGED - John Hepburn, Znet, May 18, 2008
The thing that both nuclear power and so-called 'clean coal' have in common is that they are both technological solutions that employ the same 1950's style, centralised, linear thinking that has got us into the problem in the first place. Dig it up, burn it, bury the waste and shift the problem to future generations. The flipside of this paradigm is the continued failure to understand and embrace renewable energy

Fed minutes reveal stagflation worries -
The Wall Street Journal, 22 May 2008
Federal Reserve officials acknowledge that they are fighting a difficult, two-front war against slow economic growth and high inflation fed by soaring commodity prices, minutes of the US central bank's April 29-30 policy meeting have revealed

Citigroup veteran quits after hedge fund losses - 22 May 2008
Reaz Islam, the manager of two Citigroup hedge fund families that have imploded in recent months, is leaving the company, an internal Citigroup memo revealed

Leading banks propose alternative to 'fair value' accounting - Financial Times, 22 May 2008
The world’s leading banks have stepped up pressure to relax controversial accounting rules with a new plan aimed at breaking the “downward spiral” of huge writedowns, emergency fundraisings and fire-sales of assets

05/21/08 - Banking on Incompetence and Theft - by The Mogambo Guru
"I will point out that you can make an argument that the corporate motto of 'No refunds for any reason, including incompetence and theft!' is not even original, as that is the whole attitude of the banks in general and the Federal Reserve in particular: incompetence and theft!"

CFR official: Gold is the world currency of the future - Gata.org, May 21, 2008
Benn Steil, senior fellow and director of international economics for the Council on Foreign Relations, predicted that gold may return as the international currency...

UBS suffers mass defection of wealth advisers - Mike Foster, Financial News, 21 May 2008
Eighteen UK-based private bankers have resigned from UBS to join a new business backed by Goldman Sachs and run by a former executive from the Swiss bank

SEC litigators extend reach to UK and Italy - William Hutchings, Financial News, 21 May 2008
The long arm of US securities law has stretched, for what SEC staffers believe to be the first time, to the UK and Italy, with legal actions against alleged hedge fund fraud and insider trading

Finmeccanica-Drs: Sec e Consob indagano sull'insider trading di un ex stagista - di Simone Filippetti e Morya Longo, IlSole24Ore, 18 Maggio 2008

Greenberg likely to face SEC civil charges over General Re fraud - The Wall Street Journal, 21 May 2008
The Securities and Exchange Commission has told Maurice R. "Hank" Greenberg, former chief executive of American International Group, that he may face civil charges for his alleged role in an effort to improperly boost the insurer's financials through fraudulent transactions with General Re


Morgan Stanley's head of structured credit quits - Duncan Kerr, Financial News, 21 May 2008
The global head of structured credit at Morgan Stanley has resigned some five months after the business was folded into a new unit in the wake of billion dollar losses on investments linked to US sub-prime mortgages

05/20/08 - Relishing a Golden Experience - by The Mogambo Guru
"Soon everything you love will be gone, and then you will appreciate the wry humor of the expression 'Experience is what you have left when everything else is gone.' Hahahaha!"

Analysts warn of trouble ahead for CDO managers - Phil Craig, Financial News, 20 May 2008
Trouble at French investment bank Calyon’s structured finance subsidiary Omicron Investment Management is symptomatic of wider problems for collateralized debt obligations

Moody's Error Gave Top Rating to Debt Products - By Sam Jones, Gillian Tett, and Paul J. Davies, Financial Times, London, May 20, 2008
Yeah, right! Moody's blames computer error for A ratings on junk !

Paper money unfair to blind - court - By Jessica Dickler, CNNMoney.com, May 20, 2008
Federal appeals court says Treasury Department is violating the law by keeping dollars the same size and feel

Rapport UE : au Luxembourg, de nouvelles initiatives pour accroître le taux d'emploi des travailleurs âgés et combattre le chômage des jeunes sont nécessaires - L'investigateur, 20/05/2008

Managers call in the private investigators - Cardiff Garcia, Financial News, 20 May 2008

New York to lose 17K securities industry jobs - Stephanie Baum, Financial News, 20 May 2008
New York City’s securities industry sector is expected to lose 17,300 jobs from the last quarter of 2007 through the first half of next year, as the sector reels from the credit crunch, according to the mayor's city budget office

MF Global Fraud: Alleged trading scandal forces MF Global to shut branch offices - The Wall Street Journal, 20 May 2008
MF Global is shutting the branch-office network that left the futures brokerage vulnerable to a trading scandal in February

The Economy: Another Casualty of War - Ron Paul, May 19, 2008

Caprotti (Esselunga) contro le Coop: secondo tempo - Panorama economia, 9 Maggio 2008

What’s next for the economy? Look at California - By James Saft, Reuters, May 19, 2008
Tough times in world's seventh largest ecomomy: consumer spending down, unemployment up, municipalities going bust

Ma guarda un po' che fatalità! C'é una nuova banca in Italia! E di chi sarà? - Marco Calì, 14 maggio 2008

Lehman Brothers hit by asset management departures - Johanna Symmons, Financial News, 19 May 2008
The head of distribution for Europe, the Middle East and Africa, and the head of institutional sales and client servicing for the UK and Ireland at Lehman Brothers’ asset management arm have both left the firm

Morgan Stanley culls 30 top-level staff - William Hutchings, Financial News, 19 May 2008
Morgan Stanley has cut up to 31 managing and executive directors globally from its payroll as it tries to reduce its costs in response to difficult circumstances

[EUROin addiction] Jean Claude Trichet warns of 'very significant market correction' - Miles Costello, Times Online, May 19, 2008

Does Price Transparency Improve Market Efficiency? Implications of Empirical Evidence in Other Markets for the Health Sector - CRS Report for Congress, April 29, 2008

[Clearstream] On n'arrête pas le progrès - 19.5.08

State Secrecy on Energy - Beppe Grillo's Blog, 19 May 2008
”Information, news, documents, official paperwork, activities, locations and things related to the matter being referred to can be covered by State Secrecy.” Article 261 of the Penal Code says that anyone revealing a State Secret will have a sentence of not less than 5 years in prison

05/19/08 - 'Oil Bust' Headline Makes a Good Punch Line - by The Mogambo Guru
"Perhaps part of the humor is that this comes at the same time as the price of gasoline went up 3 cents to another record high of an average of $3.70 a gallon. This is up 22% from this time last year! 22 percent! 22! Hahahaha!"

Grain Markets Panic Buying, Export Controls, and Food Riots - By: Joseph_Dancy, May 18, 2008

[Clearstream] Denis Robert - Eclectik, Radio France, samedi 17 mai 2008

Inflation appears tame, but you're paying more - By Martin Crutsinger, Associated Press via Houston Chronicle, May 18, 2008
How can government data say inflation seems tamer when milk and gas both cost almost $4 a gallon? Wednesday's Consumer Price Index showed overall prices edging up a smaller-than-expected 0.2 percent even though food prices shot up by 0.9 percent, the biggest one-month gain in nearly two decades

Merk Market Outlook: On Inflation and The Fed - By Joseph Brusuelas, May 16, 2008

[raw manipulation] Jason Hommel: A further warning to the CFTC - Gata.org, May 16, 2008
Silver market is manipulated: Hommel's reply refutes two central assertions of the CFTC report and mentions GATA's work

Zimbabwe bank issues $500m note - BBC News, 15 May 2008
The central bank has issued a 500m Zimbabwe dollar banknote, worth US$2, to try to ease cash shortages amid the world's highest rate of inflation

Dolce & Gabbana soupçonnés d’avoir dissimulé 260 millions au Luxembourg - L'Investigateur, 18/05/2008

JAK Bank: Per un modello finanziario sostenibile libero dal concetto di usura - Giorgio Simonetti, 2008

Banche; Deutsche Bank, Ackermann: crisi credito vicina alla fine - APCOM, 18 maggio, 2008
Per amministratore delegato, i mercati non rischiano il tracollo. Certo, pagheranno i contribuenti...

EU treaty opponents eye Irish vote - Henry McDonald, The Observer, May 18 2008
High Court review to start on UK referendum over Lisbon reforms as Ireland prepares to go to the polls

Chart of who "owns" the Federal Reserve - Committee on Banking, Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976
Chart 1 reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York...

The Whole World in Debt Chains - Major C. H. Douglas in "Manchester Despatch" (1920s)

Il grande spreco - Maurizio Blondet, Effedieffe, 18 maggio 2008

FAO June Food Summit: Showdown over Gorey/WTO Plans To `Let Them Starve' (PDF) - by Marcia Merry Baker, EIR, May 16, 2008

WHY THE PHILIPPINES IS STARVING: How Shultz and the WTO Destroyed the Philippines Green Revolution - by Mike Billington, Executive Intelligence Review, May 16, 2008

FDIC sees another wave of U.S. credit stress coming - Reuters, 05.16.08

[Bancopoli] Debito dello Stato ed Emissione monetaria - Armando C. Tavano, Corriere dei Caraibi, 11.05.08

The Challenge Of Modern Slavery - By Loretta Napoleoni, ICH, 07/05/08

G. Edward Griffin guest on Carl Wilson show: Topic, Federal Reserve system, money, and how the people are being lied to (mp3) - KAJO Radio

Contrarian Chronicles: How the government manufactures low inflation - By Bill Fleckenstein
Some government data suggest computer and car prices, among many other things, are falling. But when was the last time you paid less for a car? Heres why you should be concerned

ECB Concerned Over Swap-O-Rama Exit Strategy - Mish's Global Economic Trend Analysis, May 16, 2008
The garbage being pawned off on the ECB is expanding: Spanish, Dutch, and UK housing, but more amazingly, securitisation of Australian motor loans

California Leads Way To Consumer Bust - Michael Shedlock, May 16, 2008
"The Arnold" is going to have to renege on his promise of not increasing taxes. Furthermore, he is going to have to make huge budget cuts as well. This will throw more Californians into the ranks of the unemployed and reduce discretionary spending by the amount of increased taxes as well

[Bancopoli] Perché la Lega voleva salvare il governatore Fazio - Antonio Di Pietro, 16 maggio 2008

Government Inflation data at Odds with Reality - Gary Dorsch, Global Money Trends magazine, May 16, 2008

ICE halts trading for three hours - Luke Jeffs, Financial News, 16 May 2008

05/16/08 - The Earthling Economics Experiment - by The Mogambo Guru
"Why don't they do what they know they should, especially since the freaking Constitution of the United States of America requires that money be only of only silver and gold, so that a fiat currency would be impossible?"

[Euroina] Crisi: Bce e Eurostat iniettano fiducia - Marzio P. Rotondò, Rinascita, 16 Maggio 2008

Ai Comuni l'abolizione dell'Ici costa 2 mld di euro - Sabrina Lauricella, Rinascita, 16 Maggio 2008

Venezuela Stops Open-Pits and Gold Mines - By Ana Isabel Martinez, Reuters, May 15, 2008

ECB Concern Over Liquidity Scheme - By Paul J. Davies, Norma Cohen, and Anousha, Financial Times, May 15, 2008
ECB affects surprise that banks dump their junk on it

Recession danger is real, warns Mervyn King - By Robert Winnett, Telegraph, 15/05/2008

Fed's Direct Loans to Banks Climb to Record Level - By Christopher Anstey and Steve Matthews, Bloomberg, May 15, 2008

US foreclosure filings surge 65 percent in April - By ALEX VEIGA, AP, May 15, 2008

Top manager for Legg Mason subsidiary takes medical leave - Cardiff de Alejo Garcia, Financial News, 15 May 2008

US to seek client names from UBS in tax case - The Wall Street Journal, 15 May 2008
US prosecutors are expected to confront Swiss banking giant UBS with a broad subpoena for the names of wealthy American clients who may have used its services to avoid income taxes, according to lawyers and others involved in the case

Tremonti: sgravi fiscali in agenda già mercoledì. Nessun problema di copertura - Diana Pugliese, Rinascita, 15 Maggio 2008

05/15/08 - The Economic Sky Has Fallen - by The Mogambo Guru
"I naturally jump to the conclusion that this is the worst inflation in U.S. history, and that it is time to seal myself into the Impregnable Mogambo Bunker (IMB) and shoot at anything that moves because the economic sky has fallen…"

Food Shortage Nearing Crisis - The Onion, Issue 44•20, May 14, 2008

Morgan Stanley lays off senior analysts - Dow Jones Newswires, 14 May 2008
The New York investment bank earlier this month said it will eliminate another 1,500 jobs throughout the company, bringing the total number of cuts since last June to 4,500, or just under 10% of the company's 47,000 employees

Una peste del grano. Anzi due. - Maurizio Blondet, Effedieffe, 14 maggio 2008

Everything Falling Apart, Reports Institute For Somehow Managing To Hold It All Together - The Onion, Issue 44•20, May 14, 2008

05/14/08 - A Shrinking Trade Deficit is Still a Deficit - by The Mogambo Guru
"So the total swing from a monthly surplus of $63 to a deficit of $58 billion has been a staggering $121 billion! You can probably tell by the way my eyes spin comically in my head that this is a Big Freaking Change, and it scares the hell out of me."

Interim CEO to guide Calpers through turmoil - Cardiff de Alejo Garcia, Financial News, 13 May 2008
The California Public Employees’ Retirement System, the largest US public pension scheme with about $245bn in assets under management, has appointed an interim chief executive as it seeks a permanent replacement for Fred Buenrostro, who stepped down last month in the wake of two other high-profile departures from the scheme

Avremo la depressione, senza nemmeno la deflazione - Maurizio Blondet, Effedieffe, 13 maggio 2008

05/13/08 - Chicken Feed on Increased Food Prices - by The Mogambo Guru
"And regardless of how many 'nightmares' anybody's lawyer says his client has had as a result of an alleged 'hostile work environment', the real nightmare is knowing that inflation in prices generally follows inflation in the money supply."

JPMorgan Chase CEO: Recession Just Beginning - MoneyNews, May 13, 2008

Mémoires d'un affranchi - par Fanny Menceur, Technikart, le Mardi 13 Mai 2008

Not-So-Safe-Deposit Boxes: States Seize Citizens' Property to Balance Their Budgets - By ELISABETH LEAMY, ABCnews, May 12, 2008

Angle mort - Denis Robert, 12.5.08

Calyon may oust chief over sub-prime losses - Tom Fairless, Financial News, 12 May 2008
The chief executive of Calyon, the investment banking arm of France's Crédit Agricole, could reportedly be forced to step down after just nine months in the role as anger grows over the extent of the group's exposure to the credit crisis.

05/12/08 - Government Approves 'Unemployed' as Job Description - by The Mogambo Guru
"Maybe this 'recession' thing is why the Labor Department reported that the U.S. lost another 20,000 jobs in April. In fact, the economy has shed 260,000 jobs since New Year's Day!"

Federal Reserve: la crisi delle tesorerie - Fulvia Novellino, Rinascita, 11 Maggio 2008

05/09/08 - Stranger than Fictional Balance Sheets - by The Mogambo Guru
"I am curious as to what 'lowering assumptions' means to these S&P people, as I have recently been told by my family that they have 'lowered' their assumptions again, too, and that they now collectively assume that I have hit bottom…"

05/08/08 - The REAL Reason Everything Costs So Much - by The Mogambo Guru
"So where is that other $49 billion, if they borrowed it but did not add it to reserves? Who the hell knows? Gaaahh! My head is spinning! I cannot even understand this new corrupt crap anymore!"

Sub-prime fiasco claims Moody's Investors president - The Wall Street Journal, 08 May 2008
Brian Clarkson, the driving force behind Moody's Investors Service's push into lucrative but riskier businesses, is stepping down as president and chief operating officer of the oldest bond-rating firm, the company announced Wednesday.

05/07/08 - A Fear of Falling Fed Credit - by The Mogambo Guru
"As I was contemplating how my blood got suddenly colder, I was taking a long pull from a bottle of really cheap tequila to try and calm my ragged nerves about this lack of additional TFC thing."

Cosa ha deciso la Trilaterale - Maurizio Blondet, Effedieffe, 07 maggio 2008

05/06/08 - Higher Prices for Smaller Portions - by The Mogambo Guru
"The result is that the price of packaged food is going up by more than the rise in the underlying commodities would suggest, which (according to government statistics) is at least 20% in the last year, and often much, much more."

05/05/08 - The Magic of 'Product Substitution' - by The Mogambo Guru
"It is this last fraud that has been used to such success by Mogambo Inter-Planetary Industries (MIPI), by which we commit an as-yet legalized extortion by utilizing the word 'improved'."

Perhaps 60% of today’s oil price is pure speculation’ - by F. William Engdahl, Global Research, May 2, 2008

05/02/08 - Gold Price Suppression Scheme - by The Mogambo Guru
"And as to the notion that the Fed has sold half of our nation's gold, I think that is being generous as hell, as I see no reason why the Fed would stop at only half…"

Global Famine - by Michel Chossudovsky, Global Research, May 2, 2008

05/01/08 - The Velocity of Floral Inflation - by The Mogambo Guru
"But after all of this, you suddenly realize that the money that was taxed away comes roaring back into the economy as government spending, making a mockery of the whole thing, and then there is inflation to consider…"



Petizioni

Shut Down The Federal Reserve System (sign the petition)
Costituzione italiana - Art. 1 [in lettere, per le banche: "articolouno"] La sovranità appartiene al popolo.
Petition: Transatlantic Seigniorage Dialogue - Petizione: per un dialogo Transatlantico sul Signoraggio


 

 

Appuntamenti


- AMI 2008 Monetary Reform Conference at Roosevelt University in Chicago, Sept. 25-28, 2008
- 314° anniversario del signoraggio il 27 - 7 - 2008
(anno sabbatico) - 314th seigniorage anniversary (anno Templare 890)

- COME DIFENDERSI DALLE BANCHE E FARE LORO CAUSA - Eugenio Benetazzo, Sala Congressi Pittarini, Biblioteca Civica di Sandrigo (Vicenza), Mercoledì 28 Maggio 2008, ore 21:00



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Riassunto del Sistema

Qual'è il confine tra il disimpegno e la complicità? Tra l'inettitudine e la collusione?
Ron Paul 1979
DENNIS KUCINICH ON MONETARY REFORM (AUDIO)
I flussi internazionali del denaro - capitolo del libro "O LA BANCA O LA VITA", di Marco Saba, Arianna Editrice, 2008
11 settembre, Torre 1 (Torre Nord): perché non è indicato il numero del piano degli uffici della CEDEL BANK poi diventata CLEARSTREAM BANK ?
911 Cedel Bank

La posizione della Mobil Oil Corporation in merito alla supervisione sulla Federal Reserve:
MOBIL Corp. on the Federal Reserve
"E si osserva anche ciò che meglio di ogni altra cosa può dare la misura della situazione attuale: il dilagare del "metodo mafioso" a tutta la società, la penetrazione progressiva del modello del ricatto, della minaccia, dell'avvertimento. La scomparsa progressiva della "giustificazione", che lascia il posto alla pura forza. Al fondo di ogni trauma, di ogni episodio di terrorismo organizzato, di ogni manovra di potere o di corruzione politica, scavando, si trova uno sportello bancario."
- Lombard, "Soldi Truccati", ed. Feltrinelli, 1980, pag. 11


U.S. Congressional Record - House, September 29, 1941:
THE NATIONAL DEBT

SPEAKER. Under previous order of the House, the gentleman from Texas [Mr. Patman] is recognized for 15 minutes.

WILL COST GOVERNMENT $100,000,000,000 TO PAY DEBT OF $50,000,000,000

Mr.PATMAN. Mr. Speaker, our Government debt at this time is approximately $50,000,000,000. By the time that is paid it will aggregate $100,000,000,000. When we talk about a debt of a certain size we should double the amount if we want to keep in mind what will actually have to be paid before the debt is liquidates. This amount of 100 percent is due to the interest charges. I am not opposed to individuals and corporations paying interest. They should pay interest for the use of money that they hire from other people, but when our Federal Government, that has the eexclusive power to create money, creates that money and then goes into the open market and borrows it and pay interest for the use of its own money, it occurs to me that that is going too far. I have never yet had anyone who could, though the use of logic and reason, justify the Federal government borrowing the use of its own money. For the first 125 years of our country's existence the national debt was small. It was only about $3,000,000 a year - very small. The interest charges amounted to a very insignificant sum, excepting during the War between the States, when the national debt ran up to twenty-five or thirty million dollars. But that was only for 2 or 3 years, and it was small in comparison. However, since the World War in 1917-18, our natinal debt has been large, and today we are paying at the rate of $1,300,000,000 a year interest on our Government obligations.

GOVERNMENT SHOULD NOT ISSUE INTEREST-BEARING BONDS

It is true that if we contract a debt we should pay it. If the Government sells bonds, the Government should pay those bonds. If the Government promise to pay interest at a certain rate on those bonds, the Government should carry out its obligations. It is not only wrong: it is extravagant. It is not only extravagant, it is wasteful. It is absolutely unnecessary. Two days ago Mr. Morgenthau, Secretary of the Treasury, was on the witness stand before the Committee on Banking and Currency on the price control bill. I asked him questions about this. It is in the hearings, commencing at page 1005. Mr. Morgenthau admitted in this testimony that if the Government were to issue $1,000,000 in bonds and sell those bonds which are non-interest-bearing and delivered those bonds to the 12 Federal reserve banks and received credit for them, that he, as Secretary of the Treasury, could then issue the same kind of checks against that money, and the people receiving the checks would receive the same kind of money as if he had issued a million dollars in bonds and sold them to the commercial banks of the country and agreed to pay the commercial banks a certain rate of interest. It would not increase the money supply one penny. Anyone who argues that it is inflationary does not know what he is talking about. It is not inflationary. It is not nearly as inflationary as our present system of selling bonds and paying interest as much as you pay principal.
I have in my possession a letter from the Secretary of the Treasury, Mr. Morgenthau, in reply to a letter I had written to him, I asked him how much the Government would pay in interest charges on the $758,900,000 4 1/4-percent treasury bonds that are payable in 1947 to 1952. His reply was that the amount would be about $967,700.000. Now, mind you, that is where we issued those bonds during the World War, amounting to $758,000,000, and we are paying in interest on those bonds, in addition to the principal, $967,700,000.
Now, take the Panama Canal bonds. They amounted to a little less than $50,000,000 - $49,800,000. By the time they are paid the Government will have paid $75,000,000 in interest on bonds of less than $50,000,000. So the Government is paying out $125,000,000 to obtain the use of $49,800,000. That is the way it has worked all along. That is our policy. That is our system. The question is, Should that policy be continued? Is it sane? Is it reasonable? Is it right or is it wrong? If it is wrong, it should be changed.

Mr. VOORHIS of California. Mr. Speaker, will the gentleman yeld?

Mr. PATMAN. I would rather the gentleman wait until I have finished. Now. I believe the system should be changed. The Constitution of the United States does not give the banks the power to create money. The Constitution says that Congress shall have the power to create money, but now under our system we will sell bonds to commercial banks and obtain credit from those banks. We do not receive money form the bonds. The banks create credit, and, as Mr. morgenthau said in reply to my question, they create the money in that way, and they have already created $20,000,000,000 and bought $20,000,000,000 of Government bonds. Therefore, if we do not change that system we are, in effect, farming out the credit of this Nation and paying a bonus or tribute to people who do not have anything in the world to offer us. They have nothing to give us that we do not already have, and yet here we are paying over a billion dollars a year for the use of it.

IDIOTIC SYSTEM

I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with this Congress for sitting idly by and permitting such an idiotic system to continue. I make that statement after years of study. I have talked to the Secretary of the Treasury and members of the federal reserve Board and other people who are supposed to know about the money system of our country. They know this can be done easily and conveniently, and it will save money; but their one reply is, "It will have a bad psychological effect." Well, I do not think it would have a bad psychological effect to save the people over a billio dollars a year of interest. I do not think it would. It would certainly have a bad effect on the people who are collecting interest on the Government's money.

FEDERAL RESERVE PRIVATELY OWNED

We have what is known as the Federal Reserve Bank System. That system is not owned by the Government. Many people think that it is, because it says "Federal Reserve."
It belongs to the private banks, private corporations. So we have farmed out to the Federal Reserve Banking System that is owned exclusively, wholly, 100 percent by the private banks - we have farmed out to them the privilege of issuing the Governemt's money. If we were to take this privilege back from them we could save the amount of money that I have indicated in enormous interest charges. We have today about $23,000,000,000 in gold. This gold is, of course, owned by the Government - title to it is in the Government. Many people say the Federal Reserve banks own it, but they do not own it. Congress passed a law saying that the right, title, and interest in and to that gold is in the Government, but for convenience and in order to carry out this present monetary policy, the Treasury has issued what is known as gold certificates and has turned over to the Federal Reserve banks these gold certificates. So today we hold about $23,000,000,000 in gold. Under the old system of issuing $2.50 in currency to every $1 of gold on the theory that a 40-percent gold base would always be safe, you could take that $23,000,000,000 of gold and issue two and one-half times that much money under our present system. This would amount to fifty-seven or fifty-eight billions of dollars that could be issued on that gold; and then the banks receiving the money could issue all the way from 7 to 10 to 1. You can thus see what a great potential threat of inflation is there if it were exercised, but it will not be exercised, because the people who have charge of the monetary system will not permit it to be exercised. The point I want to try to make is that the 12 Federal Reserve banks have in their custody these gold certificates which are used the same as gold, which are sufficient to more than pay off the entire national debt. I am not advocating that this be done quickly or suddendly. I am not advocating that any change like this be made quickly, for it would probably be disturbing to the country; but if the Government owned these 12 Federal Reserve banks, as it should - they should be just as much a part of this Government as the Treasury itself - then eventually the national debt could be absorbed by them and this interest burden could be taken off our shoulders.


JESÚS HUERTA DE SOTO (in: MONEY, BANK CREDIT, AND ECONOMIC CYCLES, Ludwig von Mises Institute, 2006):
"Until specialists and society in general fully grasp the essential theoretical and legal principles associated with money, bank credit, and economic cycles, we may realistically expect further suffering in the world due to damaging economic recessions which will inevitably and perpetually reappear until central banks lose their power to issue paper money with legal tender and bankers lose their government-granted privilege of operating with a fractional reserve."

scec

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