Friday, October 29, 2010

Stuck On Stupid Energy Policy

More than 127 million gallons of crude spilled into The Gulf of Mexico, thanks to a negligent BP who continued to push the Deepwater Horizon project forward, which was falling further behind schedule, despite some obvious procedural irregularities. Much like the oil soaked birds on the Gulf shores, our energy policy is starting to weight us down into an economic and moral swamp. Instead of just the numbers at the pumps, here's a few statistics to wrap your minds around: $900 billion US taxpayers funds were approved to go to the Iraq war in 2010, $1 billion has gone missing in Iraq and $10 billion was wasted according to a 2007 congressional hearing. More on the Iraq war later.

These statistics on just one oil spill and one war should be enough to motivate us to change energy policy but, it's the intangible things that are most worrisome. What about the cost of a spill to an entire ecosystem or, the fishing families who may possibly suffer an entire cultural identity loss, many of whom have yet to recover from Hurricane Katrina? What about the costs of a war to an entire nation of people who did not have weapons of mass destruction? They are now left with the task of trying to rebuild a secure government, basic social stability and infrastructure. How can we possibly calculate those numbers with the writing of a check?

But those are the things we know about, we hear the numbers on the news at night and some of us even manage to remain aghast, although the numbers are so huge its hard to even imagine what they actually mean. We hear about a stalled energy policy in the Senate and hear about BP as it threatens our government with blackmail on pay outs if we won't give them additional contracts for more drilling. In BP's mind, when you owe someone for damaging their land and livelihoods you should hire them again, or else. I guess we are supposed to hold our breath and hope that nothing else will go wrong while they drill more holes into our offshore sands. They have already had more accidents since The Gulf, one in Alaska and another one off Vermilion Bay. Personally, I won't be holding my breath for common sense drilling practices with BP.

Many of us know these things and we also know that something has got to change and we like to bicker among partisan lines about carbon credits, or potential job loss, or whether global warming is real, or a possible conspiracy and meanwhile nothing changes. We like to think that nothing changes because of our partisan debates, or maybe because Big Oil has some heavy hitting lobbyists and they dole out huge sums of cash for campaigns and they stop meaningful reform. To a certain degree these issues are relevant but, what we never hear about is how oil backs our money.

In 2000, Saddam Hussein threatened to no longer support the US dollar before our attack on Iraq. He issued a serious threat, one which could not be ignored by us. He no longer wanted to support the money of his 'enemy' and wanted to accept payment for Iraqi oil with the EURO. What exactly does this mean to the dollar?

All nations protect the value of their money by keeping foreign currencies in a central bank. This is done so that if your money becomes attacked by speculators, you can intervene to support the foreign exchange rates. For example, speculators start to dump your greenbacks, you can use foreign currency to buy up dollars and drive the value back up. Foreign countries tend to save in dollars, because oil is sold in dollars. In other words, the reason foreign countries save US dollars the most, is because of oil. Any oil producing nation which threatens to sell their oil in any other currency literally is threatening to devalue our money.

And now we get to the actual issue at hand; if our dollar's value is based upon oil, how can we possibly stop using it? We would devalue our own money. How are we ever going to get the oily albatross from around our necks? We can continue to bicker amongst ourselves about partisan 'green policy' but, until we get our currency dilemma figured out, we will have to keep running on high octane until the gas runs out, or a new global currency is born.

Saturday, April 11, 2009

Ownership of the Federal Reserve

Many think that the Federal Reserve, is a Federal Bank, which it is not. It is considered a quasi enterprise. I would like to take a moment and address the ownership of The Federal Reserve, and speak about how members of this bank often move into: The World Bank, the IMF, and the US Treasury Department. Further, I will explore how these ties influence banking policy.

The Federal Reserve Bank has ties to many banks to include: The London Bank (Rothschilds), JP Morgan, Lehman Brothers, Chase Bank among others. See a complete list provide by the link below.

Paul Volkner is on President Obama's economic team as the "Economic Advisor" and his former ties to both The Federal Reserve and Chase.

" became president on August 1, 1975, at the age of 47. As president, he also served as vice chairman of the FOMC. Previously he served in a variety of positions with the Treasury, Chase Manhattan Bank, and the New York Fed."

Also on Obamas team we have Larry Summers, who was tapped as the "Head of the Economic Council" and worked for The World Bank. It is important to note that among his bragging rights, in accordance to his bio are that his: "work with the International Monetary Fund contributed to a more effective surveillance of financial vulnerabilities, greater transparency in the international financial system, the introduction of new lending facilities to deal with capital account crises, and improvements in IMB lending practices".

We also have the now famed, Timothy Geithner, who was tapped as the "Treasury Sectary". He also served as the President of The Federal Reserve Bank, and also worked closely with Mr. Summers prior to his appointment in the Treasury department.
As a point of interest, he also has ties with the IMF (from his bio) "He was director of the Policy Development and Review Department at the International Monetary Fund from 2001 until 2003. Before joining the Treasury, Mr. Geithner worked for Kissinger Associates, Inc".

If you are starting to see a "boys club" emerge from these ties, than you may want to consider that this has been the norm in the US for generations, and that this is not an policy tied exclusively to President Obama. The clearly defined fundamental pattern that is emerging, is one of "musical chairs". We have the rise of a few powerful men, within banking, that maintain key powerful positions on a national and international front. These men are able to forge policy through these key positions. An important final note, one should watch where the men from the last administration land...I bet, like cats, it will be on their feet.

Thursday, March 19, 2009


The World Bank requested all stimulus bills passed, allocate 7% of said monies, to developing countries. I suggested that some questions be addressed first, in order to further understand how theses monies would be utilized.

This report, will explore the IMFs involvement in Iraq, and the subsequent riots that ensued. In December 2005 the IMF issued a 685 million dollar loan to Iraq. Extortion soon followed (The Progressive below)

In December, the International Monetary Fund, in exchange for giving a loan of $685 million to the Iraqi government, insisted that the Iraqis lift subsidies on the price of oil and open the economy to more private investment.

As the IMF said in a press release of December 23, the Iraqi government must be committed to “controlling the wage and pensions bill, reducing subsidies on petroleum products, and expanding the participation of the private sector in the domestic market for petroleum products.”

The impact of the IMF extortion was swift and brutal.

The ultimate result was a price hike on gasoline from around 5 cents per gallon to around 65 cents per gallon.

Not surprisingly, these enormous price hikes have led to riots around the country, with police firing on 3,000 protesters in Nassiryeh, according to an account on Daily Kos.,

Both, the World Bank and the IMF, have been accused of economic terror acts, which come by the way of "loans". When countries accept these needed loans: for roads, schools, utilities; can not afford to pay them back, natural resources vital to a "developing country" are then taken. These same resources,if utilized properly, are the very things needed to provide economic security to such an impoverished country. Instead, we see the resources plundered by a "supposed" benign International group, that was created under the pretense of assisting countries in economic distress. It is my intent to report further on such stories.


While nations across the globe try to pass stimulus packages into faltering economies, one request for capital may surprise even those that are attentive to the mounting financial difficulties of our times. The World Bank has called for "wealthier" countries to include 7% of their passed stimulus packages to go to them, in order to help less developed countries. The sum of the total amount from such a proposal would amount to between 10 - 12 billion, according to The World Bank.

While this suggestion may initially sound reasonable, and even palatable, it is important to note that the monies requested have debt attached from contributing countries. A larger issue, perhaps, is how will the monies be allocated, and under what terms? Furthermore, how will this indebtness affect the countries that accept the finiancial support? Will those countries have to give up natural resources in order to pay back debt? Before we support such a "blind" cause, there are many questions to still be answered.


It comes as no surprise, to most following banking news, that The Rothschild's family has been, an influential force within the world of banking for over two centuries. In recent years, The Paris banking cartel has reemerged with the London cartel, and the buck doesn't stop there. A more recent merger has taken place with the Bank of China as well. These ties also merge with, The Bank of China's, recent 30 % buy into Swiss-based Heritage Fund Management SA.

According to International Herold Tribune:

"With the rapidly growing global demand for wealth management services, private banking and asset management are becoming increasingly important parts of the Chinese financial services industry," the statement said.

Bank of China said it hoped the deal would strengthen its presence in Europe. China's top banks are among the world's largest in financial terms but inexperienced at consumer services. They have formed ties with foreign partners to introduce credit cards and other products.

The Rothschild's, also have managed to stay relativity unscathed during this current economic calamity. According to Baron Rothschild, “You could say that we may have more insights than others, or you may look at the structure of our business,” he says. “As a family business, we want to limit risk. There is a natural pride in being a trusted adviser.” (quote provided by The National).


I am outraged, that this morning, there is already a spin being placed on the AIG debacle. This testimony very CLEARLY states that The Federal Reserve and "experts" appointed from The Reserve (Morgan Stanley and Ernst &Young) were the ones that determined that the bonuses could be issued! The banking cartel, decided how YOUR tax money, could be used as a bonus! Let this information sink in because, it means that YOUR money is now being controlled by private bankers.

If you are still wondering who calls the shots in Washington, you had better look into who can give the proverbial "nod".

As a final note, the head of Ernst & Young's name is Jim Turley and the following information was pulled directly from his bio :

Jim is actively engaged with many stakeholders as part of Ernst & Young’s commitment to enhancing the public’s trust in professional services firms and in the quality of financial reporting. He has encouraged dialogue with key stakeholders across the globe regarding the many changes facing the world capital markets, including the advent of the Sarbanes-Oxley Act in the United States, the introduction of International Financial Reporting Standards in more than 100 countries throughout the world, and the overall movement toward greater convergence of global accounting standards and global governance.

The Banking Cartel

I am creating this blog,in order to report information that I have gathered over the course of a year. My initial desire, was to better understand energy policy. This query, lead into banking matters, and the information discovered, is of vital importance. It is here that I wish to create a space, in which readers can come to discover news and information relating to a "Banking Cartel" that, appears to be moving toward a global currency and global bank. All information to be contained within this blog will come from direct (real) news pages, and while ALL opinions are appreciated, it is my aim to construct a page that will enlighten, based on truths derived from "hard" news. Please feel free to comment or, if further information is known, to contribute additional information that may continue along this same vane.