02-17-2012: 2008 Progressive Financial Tragedy = Conservative Scapegoat For 2012

Posted: February 17, 2012 in Weekly Constitution Watch

If we care anymore about having a future of freedom, safety, abundance and generosity – it is critical that we as individual people begin paying attention to what our proposed leaders are “doing”, not “saying”.  We must vote only for those candidates who aggressively support and have the personal courage to actively articulate and fight for our Constitutionally recognized freedoms regardless of political party.  We must vote for candidates committed to getting our over-reaching government out of our lives.  These candidates will never be associated with the Progressive Left  or the Establishment Right, which are just two rhetorical sides of the same unconstitutional coin.  You will not hear these candidates mentioned in any positive way by the international, Elite controlled media.  You must find them on your own.  Jon Stewart, Bill O’Reilly, Wolf Blitzer and other media figures cannot and will not help you.  Intentions aside, they are largely lost within the narrow confines of their study group world view.  They do not spend much time in the real world.

The sycophant, state controlled, liberal U.S. media with Media Matters at its White House connected, Soros (read elite) funded core would have the uninformed voter believe that whatever course we choose in dealing with the current U.S. financial bankruptcy, we must not return to the policies of the Bush years that brought us to the brink of disaster.  Really?  The entire scope of the problem is limited to a ranch in Crawford, Texas?  Seriously?  Al Gore, Jon Stewart and Chris Matthews may swallow that.  1600 Watch will not.

First of all, the financial meltdown of late 2008 was caused by nothing more than an old fashioned,  well executed Islamic bear raid on financial firms such as United Airlines, American Airlines, Merrill Lynch, Bear Stearns, Lehman Brothers, Fannie Mae, Freddie Mac and others.  It’s called FINANCIAL TERRORISM, though our own thoroughly gelded, politically correct government officials won’t say it.  The weapon of financial destruction employed, is referred to as “naked short selling” by industry market makers.  It is a viciously destructive tool and can only be used when regulatory restrictions against this practice are lifted or are unenforced as our conflict-of-interest prone government agencies chose to do.

The engine of doom known as naked short selling has not been available on Wall Street for quite some time…since the 1930’s as a matter of fact, when a regulatory framework was put in place to prevent a recurrence of the crash leading to the Great Depression.  This protective framework was removed by our dumb elected Representatives and their even dumber SEC appointees, which beautifully and gullibly set the stage for the incredible bear raid of 2008.  Mr. Kevin Freeman describes this scenario in great detail throughout his fascinating newest book, Secret Weapon, published by Regnery Publishing in 2012.

The first step in setting the stage for our 2008 financial meltdown was the Community Reinvestment Act of 1977 (CRA) signed into law on October 12, 1977 by vacuous Trilateral Commission pawn, President Jimmy Carter.  This socialist act and its later enforcement by subsequent CFR selected Presidents and their corrupt Administrations basically coerced banks to stop the practice of “redlining” and lend money to poor people who had no hope of paying back the loans.  This liberal Democrat lunacy led directly to the now infamous economic tragedy known as  “subprime”, which destroyed the good faith and credit of thousands of uninformed decent folks who made the mistake of trusting their bank, which was lying in an incestuous unmade bed with their corrupt government, just like HIV infected crack whores.  This short sighted government policy also served as powerful motivation for big banks to defend themselves and creatively turn lemons into lemonade through the creation of untraceable new financial derivative instruments such as mortgage backed securities, credit default swaps, etc.

The second step in decorating the stage for a predictable financial fiasco was the partial repeal of the Glass-Steagall Act in 1999 – while who was President?  Oh – Mr. William Jefferson Clinton with Mr. Robert E. Rubin as Treasury Secretary.  Rubin fought tenaciously for repeal of the Glass-Steagall Act under the 1999 Financial Services Modernization Act.  This permitted commercial banks to foolishly conduct business and take on risks previously limited to  investment banks – a REALLY BAD IDEA.

It was Citigroup who in 1998, prior even to repeal of Glass-Steagall, led the charge in creating new financial instruments such as the now infamous mortgage backed securities.  Who was a former CEO of Citigroup?  Oh – that would be Robert E. Rubin, Mr. Clinton’s Treasury Secretary.  No inbreeding here, huh?

The next big mistake occurred in 2004, when the SEC abolished the rule requiring broker-dealers never to leverage borrowing against assets by more than 12 to 1.  The five biggest banks to quickly jump into this abyss were Bear Stearns, Goldman Sachs, Merrill Lynch, Morgan Stanley and Lehman Brothers.  No 2008 problems there?  Actually by December of 2008, Mr. Freeman informs us, all five of these firms were either bankrupt, absorbed by other firms or received generous tax payer funded bailouts via the privately owned, taxpayer backed, Federal Reserve. (My somewhat incendiary words, not Mr. Freeman’s.)

By 2008 other dubious credit derivatives such as credit default swaps were endemic.  From 2001 through 2007 the credit default swaps (CDS) market grew from $1 trillion to more than $62 trillion or about five times U.S. annual GDP.  Did I mention that these credit derivatives are 100% unregulated.  No transparency what-so-ever.  Did I mention that Robert E. Rubin,  along with Federal Reserve Chairman Alan Greenspan and SEC Chair Arthur Levitt, fought voraciously against any and all regulation of these untraceable derivatives?  Our incestuous global elite banking masters had seriously figured out how to capitalize on stupid government policy with maximum profit while simultaneously transferring all risk to the uninformed tax payer, who ignorantly jumped for joy at the prospect of cheap loans for anybody.  Life was good.

Commodity Futures Trading Commission (CFTC) Chair Ms. Brooksley Born fought a lonely battle in favor of regulating these instruments.  Ms. Born was a brave voice in the soon to be bloody, shark patch battling with common sense against these elitist pawns, but unfortunately for we the people,  lost every battle.  Suddenly, Main Street citizens were reduced to chum for the hungry elitist sharks.  When Mr. Larry Summers was crowned Treasury Secretary, he too, jumped on the band wagon against financial derivative regulation and was powerfully seconded by Mr. Greenspan.

Peruvian economist Hernando De Soto wrote in the Wall Street Journal, “these derivatives are the root of the credit crunch”.  Mr. De Soto in case you don’t know, is an economist who regularly has to deal with death threats by communists for openly discussing the fact that poverty throughout the world is generally driven or exacerbated by the lack of private property rights.  He and his colleagues calculate the amount of “dead capital” in untitled assets held by the world’s poor as “at least $9.3 trillion“—a sum that dwarfs the amount of foreign aid given to the developing world since 1945.  You won’t get this information from Paul Krugman, Bill Maher or Michael Moore – ever.  It doesn’t match their indoctrinated world view.

Mr. Freeman goes on to explain in Secret Weapon that one reason these derivatives are so dangerous is that they are not required by law to be recorded.  Therefore they are not tracked and are not tied to the assets they represent.  In short Mr. Freeman tells us “Nobody knows precisely how many there are, where they are and who is finally accountable for them”.  As we all now know, this is precisely why uninformed U.S. tax payers pay billions of dollars every year to fund the Securities and Exchange Commission (SEC) to not keep track of anything important – like say $62 trillion dollars of financial securities brokered by firms under their regulatory over sight.

The final cog in the Islamic financial attack machinery was jacking oil prices from around $50 per barrel in 2007 to nearly $150 per barrel by late 2008, thereby weakening the American and world economies considerably.  Islamic market makers speculated within wholly nontransparent, so-called “black markets” along with tail gaiters like George Soros, all of whom profited enormously in the oil run up preceded in planned series by the 2001 Twin Towers attack and later by the orchestrated 2008 Wall Street meltdown.  All together this amounted to a decade long financial terror attack on U.S. and world markets mounted by Islamic extremists, supported by their hateful governments, aided by foolish Sharia compliant western banks, compounded by Western speculators like insider thug, George Soros and apparently missed completely by our complacent – or perhaps compliant – I’m not sure which – irresponsible political leadership and negligent, possibly corrupt regulatory agencies.

We can safely and confidently say, at this point,  that our Federal government is too big to succeed.  Can we stop making it unconstitutionally larger and even more clumsy?  Can we consider making it 43% smaller to fit its own cash flow or as lying government enablers would say, budget?  You know?  The one the Obama Administration hasn’t produced for three years so we the people can’t see in writing, the treasonous financial destruction being wrought by our own nontransparent, bankrupt government.  Do any of you still believe any of this idiocy is an accident?  Do you not yet suspect that perhaps Barrack Hussein Obama, whom we know virtually nothing factual about – ought to at least be investigated as a potential Islamic / Marxist co-conspirator in the obvious attempt to weaken America?  What little we do know regarding Barack Obama and his life long associates suggest we at least ask a question or two in our own defense.

This is the incestuous stupidity that weakened the overall U.S. financial markets and set the stage for the Islamic naked short selling weapon of financial destruction to do its thing.  The United States now has an interlocking marriage of government with multinational corporations working against we the people instead of for we the people.  This parasitic relationship is fostered by both the Marxist Left and Establishment Right working along separate, but united rhetorical paths.  The Obama Administration is now treasonously working to coerce religion into this incestuous fold.  History tells us that whenever government becomes married to both private business and religion – the near future can be described using terms such as doom, catastrophe,  calamity, pain, disaster, tragedy, meltdown, shock, collapse and struggle.

If we care at all about our kid’s futures we must make the effort to obtain truthful information.  We must realize that our entire press corp is now an elite Pravda style propaganda machine.  Some of it is Establishment Right;  some of it Marxist Left;  virtually none of it is true.  All of it is caught up in a strategy to destroy America’s middle class via a wealth transference program to the world’s multinational elite.  Do your own research.  Reach your own conclusions.  Cast your own vote.

Our failure to wake up and hunt down the simple truth in today’s virulent political world, is tantamount to willingly purchasing our own slavery, by the pound, from the elite slave master’s auction block; such slavery obscenely offered as security, but in fact, serving as the unbreakable manacles of spiritual destitution and economic collectivist poverty.  The U.S. financial quagmire and dire threat to liberty has not in fact been caused by George W. Bush.  It has been caused by decades of complacent voter ignorance, leading to Presidential candidates limited to and supplied by the international elite, along with unqualified, self serving elected officials of both the Democrat and Republican Parties,  few of whom recognize a conflict of interest; who in turn appoint corrupt agency staffers and political hack court justices who illegally legislate from the bench;  and all of this paid for and tolerated by the uninformed voter against his or her own best interest.

We citizens of America cannot and will not remain free at our current level of economic illiteracy and political gullibility.


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