A little off topic, but once you understand the banking systems you'll have some idea what is going on and it is not nice.
Ben Bernanke said:
Bernanke is particularly interested in the economic and political causes of the
Great Depression, on which he has written extensively. On
Milton Friedman's ninetieth birthday, Nov. 8, 2002, he stated: "Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve.
I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again." [7] [8] [9]
In 2002, when the word "
deflation" began appearing in the business news, Bernanke gave a speech about deflation. In that speech, he mentioned that the government in a
fiat money system owns the physical means of creating money. Control of the
means of production for money implies that the government can always avoid deflation by simply issuing more money. (He referred to a statement made by
Milton Friedman about using a "
helicopter drop" of money into the economy to fight deflation.) Bernanke's critics have since referred to him as "Helicopter Ben" or to his "helicopter printing press". In a footnote to his speech, Bernanke noted that "people know that
inflation erodes the real value of the government's debt and, therefore, that it is in the interest of the government to create some inflation."
[10]
Since the dollar, for now, is the world's currency, let's look at how it works in the US. This may come as a shock to some, but the "
Federal Reserve System" is NOT Federal and it is not a Reserve System. The Federal Reserve is a system of private banks and wealthy elites, with family going back to Europe, who formed the system in 1913 at Christmas time when the nations attention was diverted, and they lend money to the US government at interest. In order to collect that interest, the Federal Tax system was set up and the IRS was formed as a means of collecting that tax and making sure it is paid. Nearly 100% of your Federal with holding tax goes to pay the debt to these wealthy elites and none of it is used for the country itself. There are other taxes for that. Today, there is still no law on the books saying one has to pay income tax and neither was the ammendment to the constitution ever ratified by the states. But just try and not pay and see what happens.
The wiki link provided is not 100% accurate in that the entire truth is not being told, but enough was said to warrant a link. Look at the names of those that designed the system, follow their liniage to the past and into the present and you will understand who really runs the country and the world today. If you naievly think it is just market forces causing recessions and such you are sadly mistaken and uninformed.
Since the US dollar was taken off the gold system there is NOTHING to back it up. Zero, nada. The USD is a fiat currency as well as are most major currencies in the world today. The Federal Reserve can print up as much money as they desire. The Federal Reserve decides when there will be a recession and when there won't by the setting of their interest rates.
Just look at how the world reacts when The Fed chairman speaks. Just the other day Fed Chairman Bernanke said that the sub-prime mortages in the US may be in trouble. Then Countrywide Mortage (The largest in the US) said they were in trouble and the market tanked over 400 points in three days with repurcussions around the world. Today it is down another 100 as I write.
One of reasons the United States is not bankrupt today is because of the Fed's easing of requirements for borrowing which has kept the US economy afloat these past several years, but it is coming back to bite them with the huge forclosures of these sub-prime mortgages that allowed those without the sufficient income to get adjustable rate mortgages at rediculously low rates 3 years ago. The same holds for those that used their home as an ATM and received home equity loans Those rates are now climbing and people are seeing their mortgages/home equity loans go up several hundred dollars per month which they cannot afford. In yesterdays LA Times it was announced that forclosurers are up 800% over last year.
Sadly, the US is a debtor nation with the average American being over $112,000 in debt including their mortgage, and the average Amereican having over $8,500 in credit card debt for which they make minimum payments at an average of 18% interest. They are just following in the footsteps of the government which now has the greatest debt and trade deficit the world has ever seen.
Another reason the US is not bankrupt is the $3 billion/day of US Treasury bills that China and Japan buy each day!
The same goes for Europe and their Central Bank. It is all a game these people play an we are the pawns.
It's the major banks and The Wall Streets of the US and Europe that run the world and NOT the president or Prime Ministers. They too are pawns and do the bidding of these elites.
Is it not strange that the Secretary of the US Treasury and the head of Japan's Finance system both worked for Goldman Sachs?
Therefore, in keeping with the topic of this post, when "THEY" want the yen to be strong, it will be so. When they decide it shopuld be weak, it will be so. The same for the pound and the Euro.
Before you go flaming me on how crazy I am, do your homework first because I have the ammo and 15 yrs research to back me up. For starters you should read "
The Mythology of Money-The Story of Power" and "
Rule By Secrecy". If these two books don't give you the info you need and prove that everything you have been taught and "know"" is a lie then there is no convincing you and you can join the other sheeple of the world.
"Permit me to control the money of a nation, and I care not who makes its laws." –
Mayer Rothschild, Patriarch of the Rothschild family.
Google it!
I would be much obliged.
