News
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
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

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

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
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
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

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

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…

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!"

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

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

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

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

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
ARCHIVIO
NEWS
2008
APRILE 2008
MARZO 2008
FEBBRAIO 2008
GENNAIO 16-31 2008
GENNAIO 1-15 2008
2007
DICEMBRE 2007
NOVEMBRE 2007
OTTOBRE 16-31 2007
OTTOBRE 1-15 2007
STTEMBRE 16-30 2007
SETTEMBRE 1-15 2007
AGOSTO 2007
LUGLIO 2007
GIUGNO 2007
MAGGIO 2007
APRILE
2007
MARZO
2007
FEBBRAIO
2007
GENNAIO
2007
2006
DICEMBRE
2006
NOVEMBRE
2006
OTTOBRE
2006
SETTEMBRE
2006
AGOSTO
2006
LUGLIO
2006
GIUGNO
2006
APRILE-MAGGIO
2006
FEBBRAIO
- MARZO 2006
DICEMBRE
2005 - GENNAIO 2006
2005
OTTOBRE-NOVEMBRE
2005
AGOSTO-SETTEMBRE
2005
APRILE-LUGLIO
2005
Qual'è il confine tra
il disimpegno e la
complicità? Tra l'inettitudine e la collusione?

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 ?

La posizione della Mobil Oil
Corporation in merito alla supervisione sulla 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."

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