Showing posts with label Central Banks. Show all posts
Showing posts with label Central Banks. Show all posts

Thursday, May 16, 2013

How did we become the Evil Empire?

I received this essay a few days ago. I have edited the text for readability, and corrected the English idioms and expression, English is not the author's first language, but it remains essentially as given in the narrative.  I think you can feel the love of the writer for his flawed and well meaning father who thought he was doing his patriotic duty for his country but awakened too late to realize he was working for corrupt bankers and business interests.  Particularly interesting is how his father's love for his son caused him to confess the true nature of his work and that kept his son from following in the same awful footsteps.  I apologize for the quality of the black and white photos, if I get better versions I will update them.  Perhaps its just as well we can't see all the carnage that is in the photos. The photos below have never been published before, the photo above is a stock photo of the invasion of Iwo Jima.  -AK

How did we become the Evil Empire?
by "A light warrior"
editing and photo enhancement by AK

How did we become the Evil Empire? How did it come to this? The following story it is based in true facts, which I have decided to share with all of you because it is time to spread the truth to the four winds.

Human liberation is at stake.  Every single human being who has information needs expose the iron hands behind the curtains.  This will help end the tyranny we all have been subject to for so long.

You should feel obligated to do so NOW!  The "real truth" if you do not know it by now, is that we have been lied to, duped, used, abused, mind controlled, poisoned and mass murdered for millenniums. Most of us now know our lives are illusion!  It’s an illusion of the most nightmarish kind. So lets all start speaking hard and loud until the veil of ignorance completely falls.

This story is based on my fathers life experiences, his entire life history, the challenges, accomplishments and discoveries throughout his entire life ... an entire lifetime window of wisdom is now opening with the writing of this letter.

I choose to keep his name a mystery because I know he would have liked it that way. I will refer to him as "FATHER".  I know he would have approve of me sharing of this information with you today because he could have not done it itself while alive.  He had "fear" due to his secrecy vows and especially after all he had witnessed through out his military career years. He was constantly tortured by daunting weekly sweating nightmares, which I had to shake him real hard to wake him from.  It seem he was having convulsions while he slept.  He would just say "bad dreams"!

Father never had the opportunity to see how far down the rabbit hole goes. My commitment to my father in his last days was to always tell the truth and be an honorable man! I think father would be proud of me today.  I have seen how deep the rabbit hole goes thanks to him, so here is the "TRUTH" being presented to you today .

Father was a WWII veteran, fought all the way island hoping from the Philippines to Okinawa Japan, he also participated in the Korean war as part of the psychological warfare unit, a unit that secretly experimented on prisoners of war.

Among the experiments he was involved in was finding ways of keeping them complaint and docile while the prisoners were being kept in concentration camps under horribly inhumane conditions.
Our government during this heinous period perpetrated many war crimes, but that is another story in itself.

Monday, October 22, 2012

SLATE: Central Banks Canceling Debt Wouldn't Necessarily Change Anything but Might Be a Good Idea Anyway

Central Banks Canceling Debt Wouldn't Necessarily Change Anything but Might Be a Good Idea Anyway

By Matthew Yglesias
Posted Monday, Oct. 22, 2012, at 1:14 PM ET

Treasury Secretary Timothy Geithner (right) and Federal Reserve Chairman Ben Bernanke in October
Photo by Prakash Singh/AFP/Getty Images.

Central banks have been buying up government debt lately, and they could, in principle, engage in the digital equivalent of setting the bonds on fire. Lately speculation about this has been making the rounds on Wall Street, and I got two emails this morning asking me about it.

This is one of these cases where the economics of the situation look different from the political economy of the situation. According to the up-to-date models I'm familiar with, the Federal Reserve burning its Treasury bonds should have no impact at all on anything. If you recall your equation of exchange:

M • V = P • Y

In other words, the money supply [M] times the velocity of money [V] equals the price level [P] times the output level [Y]. You'll see that bond burning has no impact on either M or V and thus has neither real nor nominal impact. Indeed, the argument is simply the converse of the traditional argument that quantitative easing doesn't do anything other than add to banks' inert excess reserves. The size of the central bank balance sheet per se doesn't matter.

What does matter? Expectations. Bond burning paired with a promise to never, ever, ever let inflation go above 2 percent won't do anything because you'd be keeping expectations anchored. Conversely, bond burning paired with a clear statement of greater inflation tolerance would have a very meaningful impact—because of the inflation tolerance not because of the bond burning.

So might this be a good idea anyway? Yes.

For one thing, while I don't think it's currently true that central banks have a credibility problem when trying to raise nominal expectations, the worry that they might have such a problem is perfectly coherent, and bond burning might be a way out of it. It also might impact fiscal policy indirectly. An awful lot of pixels and column-inches have been spilled on the obviously false (somehow by coincidence the threshold is invariably found to be a round number in a base-10 system, presumably the economics of Tau Alpha C, [WTF?? Did I just read that in Slate? LOL!!! -AK] where people have three fingers on a hand work differently) idea that there's some magic debt-to-GDP ratio threshold at which point economic growth slows. Bond burning would put us further away from the arbitrary threshold and thus perhaps increase political tolerance for budget deficits. Alternatively, right now expansionary monetary policy often faces a lot of political resistance, some of which may be due to the opaque nature of its operations. Direct monetization—Fed gives Treasury money in exchange for bonds, Treasury gives money to taxpayers, Fed burns the bonds and says the point is to raise present and expected nominal income levels—might be a clearer way of communicating to nonspecialists what's going on and why it's supposed to work.

Sunday, October 21, 2012

IMF's Epic Plan to Conjure Away Debt
and Dethrone Bankers

An interesting article considering the timing. I've always wondered why governments haven't done this long before now, but I half wonder if its not an attempt to forestall impending events driving by the holders of gold in Asia. It comes from the IMF, wasn't Hilary Clinton desirous of  a position at the IMF's sister organization The World Bank? This seems to imply the FED would still be in be operation, they are not the same thing as the US Treasury. The FED IS A PRIVATE BANK and is  the largest creator of fiat money!  I think this is worthy of some thought, it needs some enhancements, but  perhaps a good starting point? I still think gold needs to be involved to bring credibility to any western government finances. Curious this post was 1111th post on American Kabuki.... -AK

IMF's epic plan to conjure away debt and dethrone bankers

So there is a magic wand after all. A revolutionary paper by the International Monetary Fund claims that one could eliminate the net public debt of the US at a stroke, and by implication do the same for Britain, Germany, Italy, or Japan.

By Ambrose Evans-Pritchard 2:31PM BST
21 Oct 2012

One could slash private debt by 100% of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.

The conjuring trick is to replace our system of private bank-created money -- roughly 97% of the money supply -- with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.

Specifically, it means an assault on "fractional reserve banking". If lenders are forced to put up 100% reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.

The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. Accounting legerdemain will do the rest. That at least is the argument.

Tuesday, October 2, 2012

China Just Killed All "China Bails Out Europe"
Rumors For Good

Tyler Durden's pictureChina Just Killed All "China Bails Out Europe" Rumors For Good

Just in case there are still any hopes that the FT, or any other credible media outlet, may come up with a story, like it used to do almost daily back in 2011 and early 2012, that China, whose stock market continues to plumb 3 year lows, has some capacity to inject cash (that it doesn't have) into a broke continent (which would never repay said cash even if it existed), here comes none other than China's Sovereign Wealth Fund to make sure there is never again a rumor that China will bail out Europe. From Reuters: "China would be interested in buying into a Eurobond backed by core euro zone countries and considers investment in bonds issued by heavily European countries unrealistic, a senior official with China's $480 billion sovereign wealth fund said.

Jin Liqun, chairman of the supervisory board of the China Investment Corporation (CIC), said until fundamental problems of fiscal, social and monetary policies in euro zone countries burdened by debt are solved, there could be no investment." 

They never will be so scratch that possibility out. Now we can limit the universe of idiotic Europe is saved (it isn't - it is only a matter of time now before the ship sinks) rumors to at least one less.

And some more:
"It's not realistic to expect any Chinese investor, CIC included, to buy the bonds, which are not safe," Jin, a former vice finance minister of China, told Reuters on the sidelines of VTB Capital investment conference in Moscow on Tuesday.

"If the euro zone would issue a Eurobond backed by all of the (core) countries - it is more attractive to international investors."

It is, however, realistic to expect entities which are also "unsafe" to dodecatuple down on said "unsafe" bond purchases. Such as all Italian and Spanish banks, as well as all central banks, which have now become toxic bondohazard repositories of only resort.

That said, thank you China for your honesty.

Thursday, March 8, 2012

Former Director of Haiti's Central Bank Slain!

Former director of Haiti's Central Bank Slain

Wednesday, March 07, 2012

PORT-AU-PRINCE, Haiti (AP) — A prominent Haitian banker has been killed in the capital of Port-au-Prince.

A spokesman for Haiti's police force said Wednesday that Venel Joseph was fatally shot while at the wheel of his car. Gary Desrosiers said police have not arrested anyone and do not have any more details about Tuesday's killing.

Joseph served as director of Haiti's Central Bank during former President Jean-Bertrand Aristide's second term from 2001 to 2004.