I don't see where Walter Burien has adequately argued against the state bank system. ND's state bank was a progressive movement against the corporate banker. It puts the control of the state's budget and finance into the people's power and not the bond holder, out of state banker, or federal reserve.
If you don't like what your state bank has done to your money, then go to the governor's house and hang 'em by his nuts. That's far easier than trying to find out the nameless faceless bureaucrat from Washington or NY that screwed you over.
Ellen Brown's work, the Webt of Debt goes into quite a bit about the creature from Jekyll Island and to her the state bank is way to get out of that web.
I can't speak for Walter, but I would guess that the state is no better than the feds in that corruption can rear its ugly head anytime there is a substantial amount of cash involved or powr or both....
That doesn't mean state bank isn't any good, it just means that they are subject to the same failing and corruption that Fed banks are.
September 15, 2010 at 9:58:00 PM MDT
Vatic Note: Please, please read this as its critically important we become very informed about all of this with respect to the extraction of the wealth of this nation and how its being done. This is an excellent response to Ellen Browns article in Global Research which many of you know I perceive to be a neocon publication, so do not be surprised that I am putting up this response to the article "A Solution to the Federal Debt Crisis?". Walter beautifully sails through the issue with the clarity of a magnifying glass and the brutal honesty of a man of integrity and courage. Give this your most intense attention and keep it for future reference since this scam has been going on for a very long time and we will need to revisit it again down the road and probably not that far away either. Governments have investments with the international bankers that consist of our tax dollars funded project and activities. Thus when the international bankers go belly up, its actually our government that the bail out is bailing out. That is the scam.
Just a reminder, in reading his work, keep in mind what government has turned out to be...... a system of power controlled by very few men and most of them insiders to international bankers, corporate businesses and energy companies. So of course its the vehicle to be coopted to use to control and wield that power with the billions if not trillions of dollars at their disposal of taxpayer money. What better way to have someone literally finance the enemies demise, simply by taking over that government, using the taxpayer revenues it collects and spending it on technology, military and other expensive ventures that one could not otherwise afford as an individual or even as a corporation. To literally coup a country and have their citizens pay for it. Very damn clever indeed. Just keep it in mind.
CAFR1 on State Run Banks
by Walter Burien
09/12/10
~~~~~~~ In response to the email below
Fri, 9/10/10, Ellen H Brown wrote:
From: Ellen H Brown
Subject: latest article -- "A Solution to the Federal Debt Crisis?"
Date: Friday, September 10, 2010, 6:06 PM
Best wishes,
Ellen Brown http://www.webofdebt.com/
_____________________________________________________________ IN REPLY TO THE ABOVE ARTICLE Speaking in Plain language for all to understand:
Ever hear of the NWO? A NWO primarily run by corporatist government attorneys.
Government is the NWO. The NWO is not coming from the outside, it is home grown by institutionalized government finance right here.
Over the last seven decades government investments have quietly taken it all over. The mortgage bailout mentioned in the article I am replying to where 1.25 T was used to buy distressed mortgage bonds at the end of 2008 in reality was used: To bail out government's own investments to keep themselves in the black.
The 7 T mortgages held through investment were primarily government's own investment capital invested with the banks; mortgage; and insurance industry. Even China admitted to having 350 B invested. To view the bank mortgage holding report (6.5 T) as of June 2008 that show 3% default and 10% delinquent - http://CAFR1.com/STATES/US-TreasuryReports/MortgageJune08.pdf
I note that the economy collapse at the end of 2008 was specifically due to a forced market free fall as derivatives were used primarily through the offshore institutional government accounts being strategically positioned in advance through derivatives initiated, placed within the stock index; interest rate; precious metals; currency; and energy markets.
Here they aggressively shorted several of the domestic and International markets in preparation for the planned bubble bursting in the housing market and then as the bubble burst they perpetuated the collapse through the selling of physical assets held.
As trillions were lost in market value of physical holdings those short derivative positions sucked over 25 T of wealth out of the world populations pockets.
They did it so fast (over two months) that it destabilized the playing field and in consideration for just having stolen 25 T+ the government rams through using a trillion here and a trillion there of "tax payer revenue" to shore up defaults from the intended marks that were created and thus stabilizing there own stealing grounds.
So what is this presentation for state run banks?
ANS: The next step in the ability to steal massive wealth as the public is treated as 100% intentionally uninformed idiots. The federal reserve was created as a centralized valve for constraining or releasing dollars whereby the economy was controlled; wealth transfer was consistently accomplished to its primary investor "government". Collective governments being the primary investor with the Federal Reserve banks gave the definition to the "silence is golden rule".
So now that the grand theft has taken place at the end of 2008 phase two goes into operation: "Cut out the middle man and hold the bags of cash yourself". Disengage from the federal reserve that has always been in your pocket since day one and do it yourself from this point forward through a conglomerate of state run banks who exercising the blatant greed and ability for theft already firmly established within their own persona, expands the ability to apply fractional reserve banking and do so up front and personal thus expanding their already over bloated own wealth bases.
If done as planed things would appear to smooth out for a few years as the balance sheet numbers massively expanded within local governments for the final phase of grand theft that was set into play. Done now on the local government level.
When that balloon of State run fractional reserve banking burst, you can kiss the United States goodbye. During the interim their would be much money changing hands greasing the skids of perpetuation and the economy would appear to be recovering.
The international cartels depending; promoting; and joyously awaiting the application of the states greed to expand their own internal empires would know definitively that when that bubble burst, of which I am sure they would arrange for, they could then walk in and buy (steal) it all at 5c on the dollar.
Tankers full of cash (wealth transfer) would change hands making the derivatives phase of theft used at the end off 2008 look like chump change.
NWO signed sealed and delivered.... The wealth of an entire nation stolen and stolen just with the carrot of greed dangled.
It really gets me pissed when I see an article as I am replying to that through misplaced good intentions or the alternative, butters the bread for all to eat (cyanide pill) eaten by one-sided promotion of a brighter day for all.
I note that the article starts out with how trillions were used and not applied for the purpose intended. WRONG! The purpose of the "under the sheets intent" was to shore up government institutional investments and not to in primary application help the population. The majority of the funds were used to shored up government institutional investments that the public is and was intentionally kept oblivious to in the first place. Then the article shifts into the play of setting up the structure for the final grand theft to go into motion: State run banks.
Contrary to clarity, the holding grounds for the trillion dollar "International" government investments / derivative managed accounts is not at all transparent for view. But even though government off-shored investment holdings starting in the 80's many government institutional investment accounts are still managed in the US.
As an example JP Morgan Chase Bank is a primary clearing operation for government investments. At the end of 2008 being that derivatives were used as the theft tool, looking at the bank derivative holdings report going into the end of 2008 is very revealing (March 2008) http://CAFR1.com/STATES/US-TreasuryReports/BankDerivativesMarch08.pdf
In this bank derivative holdings report on page one it notes that five commercial banks were responsible for over 97% of all derivative activity from all banks and the banks at large 93% of all activity totals. JP Morgan as noted 2/3rds down in the report in "TABLE 1" their notional derivative position was 90 T (Trillion dollars).
How much of that position was being cleared for government institutional accounts for government institutional investment funds for local governments in NY, CT, MA, NJ, PA, FL, CA, IL, etc.? The Lion's share is the answer to that question.
Transparency can be forced on this issue if the public in unified legal and regulatory action mandated disclosure. By no means would government do it themselves and in fact throw up as many road blocks as possible. That would be like the very fat fox helping the farmer find out who ate all of his chickens. I note it would be a good idea to force a look at the same positioned holdings around the 09/11/01 period also.
The bottom line here is: Stop being entertained by chatter and masterfully presented distraction and focus a cognitive thought on the "basic" core reality of how and who is walking with the percentage of wealth by orchestrated theft.
The two check list dates of this decade starts with 09/11/01 and then 05/15/08 (The start of the international positioned short plays) that stole massive wealth from the pockets of an entire world as we all were spoon fed to be masterfully entertained as the planed transfer of wealth took place unabated.
The North Dakota State run bank established was the testing grounds used. Is North Dakota having a budget crunch? No, they have created debt revenue at a guaranteed profit for themselves out of thin air placed on the backs of its population. They are now the first test model in line for the next intended future bubble that will finalize the grandest of all thefts..
How are the local governments baited? Greed. How is the population baited? Through the 1st line buttering the bread and dangling the carrot of greed reinforced by the self created desperation of a population to comply.
Government wishes to consolidate ownership into their accounts. I wish to consolidate ownership to the People's account, TRF and in doing so eliminate all taxation. Who would your great, great, grandfather be behind with clarity of force and conviction in the choice between these two polarized in opposition ventures?
Truly yours and sent FYI from,
Walter Burien - CAFR1
P. O. Box 2112
Saint Johns, AZ 85936
Tel. (928) 445-3532
Websites: http://CAFR1.com and http://taxretirement.com/
The article is reproduced in accordance with Section 107 of title 17 of the Copyright Law of the United States relating to fair-use and is for the purposes of criticism, comment, news reporting, teaching, scholarship, and research.
"CAFR1 on State Run Banks"
2 Comments -
I don't see where Walter Burien has adequately argued against the state bank system. ND's state bank was a progressive movement against the corporate banker. It puts the control of the state's budget and finance into the people's power and not the bond holder, out of state banker, or federal reserve.
If you don't like what your state bank has done to your money, then go to the governor's house and hang 'em by his nuts. That's far easier than trying to find out the nameless faceless bureaucrat from Washington or NY that screwed you over.
Ellen Brown's work, the Webt of Debt goes into quite a bit about the creature from Jekyll Island and to her the state bank is way to get out of that web.
September 15, 2010 at 8:16:00 PM MDT
I can't speak for Walter, but I would guess that the state is no better than the feds in that corruption can rear its ugly head anytime there is a substantial amount of cash involved or powr or both....
That doesn't mean state bank isn't any good, it just means that they are subject to the same failing and corruption that Fed banks are.
September 15, 2010 at 9:58:00 PM MDT