Iran war: Excuse for US bankruptcy
Islam Times - The US is preparing for a military confrontation with Iran as it is financially, economically, politically and morally bankrupt, a political writer says.
"America is now bankrupt: financially, economically, politically -- and morally. Its criminal aggression towards Iran is just one of many parts of a jigsaw that add up to a clear and grotesque picture of what the United States of America now represents in the 21st Century world," Finian Cunningham wrote in an article published on Global Research.
Terminally in debt, mass poverty at record levels, rampant militarism, and draconian curbs on civil liberties are the signs that the US is bankrupt, according to Cunningham.
The analyst said that "all options on the table" statement by the White House for Iran comes despite the knowledge of US officials that Iran is not after nuclear arms.
"The US is pushing the world into possibly a World War III scenario on the basis of a totally spurious claim that even its own top brass do not believe," he wrote.
Cunningham said that American intelligence agencies in at least two US National Intelligence Estimates in 2007 and 2010 reported that Iran is not attempting to develop a nuclear weapon.
The analyst also referred to recent remarks by Gen. Martin Dempsey, the chairman of the Joint Chiefs of Staff, as he confirmed that war plans against Iran are going ahead.
"My responsibility is to encourage the right degree of planning, to understand the risks associated with any kind of military option, in some cases to position assets, to provide those options in a timely fashion. And all those activities are going on," Dempsey said.
The war threats come after four rounds of US-backed sanctions imposed by the UN and unilateral sanctions by certain US allies failed to stop Iran's peaceful nuclear program.
Anti-Iran measures provoked by the US and Israel are aimed to deny Iran's right of having peaceful nuclear technology.
As a signatory to the Nuclear Non-Proliferation Treaty, Iran has the legal right to develop nuclear capability for civilian purposes.
Federal Reserve Power
Below is quote from Representative Louis T. McFadden, Chairman of the Committee on Banking and Currency for 12 years as quoted from the Congressional Record
The Federal Reserve Board, ..., has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt...Our people's money to the extend of $1,200,000,000 has within the last few months been shipped abroad to redeem Federal Reserve Notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve Banks...............
SUMMARY OF QUICK FACTS
1a. The Federal Reserve (FED) is a PRIVATELY OWNED, organization. Unbelievable? Check the ENCYCLOPAEDIA BRITANNICA.
b. Below is the list of the owners of the 12 Central Banks:
- Rothschild Bank of London
- Rothschild Bank of Berlin
- Lazard Brothers of Paris
- Israel Moses Seif Banks of Italy
- Warburg Bank of Amsterdam
- Warburg Bank of Hamburg
- Lehman Brothers of New York
- Kuhn Loeb Bank of New York
- Goldman, Schs of New York
- Chase Manhattan Bank of New York
In all, there are about 300 VERY POWERFUL, partly foreign individuals that owns the FED.
2. Although the FED is required to give back most of its PROFITS back to the Treasury Dept., there is NO ORGANIZATION that has the power to AUDIT the FED (not even the Congress or the IRS). This creates a HUGE opportunity for "creative accounting" to hide the profit that ROBS the US Tax Payers Hundreds of Billions of Dollars annually.
3. Every year, a few Congressmen introduced a legislation to AUDIT the FED, and every year, the legislation is defeated. The owners of the FED is the most powerful, invisible lobbying power there is.
4. The owners of the FED own the controlling interests in ALL major media in the US. Rockefeller, through Chase Manhattan bank, controls CBS and ABC and 28 other broadcasting firms. Each of the other owners of the FED also have controlling interest in the US media. This explain why the media have
been silent about the FED scam. The FED fraud is the biggest and longest cover-up in the US today.
5. According to Article 1, Section 8 of the Constitution, the US Congress has the power to print money (The Congress shall have the power...to coin money, regulate the value thereof, and of foreign coin, ..). According to the Supreme Court, the Congress can not transfer its power to other organization like the FED.
HISTORY OF THE FED
After several attempts to push the Federal Reserve Banking Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. In 1913, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas, when most Congressmen were on vacation. Naturally, president Wilson passed the Act when he was elected as a pay back to the bankers.
HOW THE OWNERS OF THE FED PROFIT AT OUR EXPENSE
The US goverment runs a $400 billion deficit annually. To cover this, the US goverment issues bonds which are bought by the FED.
Since the FED has the POWER TO PRINT MONEY, it can buy any amount of the US. Government bonds at almost NO COST, save for the expense of printing money (~3 cents/$100).
At this point, the owners of the FED already profit $99.97 for every 3c they invested to print the money. Basically, they exchange something that costs almost nothing to them with the US Government Bonds.
Since the FED can NOT be AUDITTED by the IRS (or even by Congress), most of this profit can go anywhere the FED owners want to. BTW, did I mention that the profit is TAX-FREE?
After buying the bonds, the owner of the FED can either:
1. Keep the bonds, and collect the interest the US Government now OWES them.
2. Sell the bonds to the US Tax Payers or foreigners.
In either case, the FED owners have profitted $99.97 for every 3 cents it invested to print the money. Remember, the FED is a PRIVATELY OWNED corporation, just like the Federal Express. The profit of the FED goes to the FED owners.
The US Government now owes the FED owners the interest on those bonds. Remember that the FED owners DO NOT EARN the bonds. They simply PRINT the money to buy the bonds. In other words, they created money out of thin air, and exchange it for the interest bearing bonds.
In order to pay for the bonds' interest, the US Government taxes the US population.
When a US Citizen holding US Government bonds receives his/her return of investment on the bonds, essentially the money he/she receives is the tax money he/she is paying to the Government.
When the OWNERS of the FED receives the interest on the BONDS they're holding, they are receiving that money for FREE (save the initial 3cent/$100 investment to print the money)! Not only that, the FED owners receive the money TAX FREE.
Under the LAW, the FED is REQUIRED to RETURN its PROFIT back to the US Treasury. However, NEITHER the Congress NOR the IRS have the POWER to AUDIT the FED. The FED has used this obvious loophole to profit via 'creative accounting'.
Consider this: every year, the FED profits by hundreds of billions of dollars by buying US Government Bonds. Yet it only returns ~$20 billion to the US Treasury. The rest of the profit has been spent as "Operational Expenses".
The FED expects us to believe that the FED operational expenses amounts to $100's billion dollars annually!!!
The truth is, those profits were spent as "DIVIDENDS TO SHAREHOLDERS"!!!!
Year after year, the FED owners bleed the US Tax Payer dry by hundreds of billions of dollars. Keep this going, and the US will go bankrupt in a few more years. Small wonder why the National Debt is increasing at its current rate.
WHY THE FED SHOULD BE ABOLISHED
1. The US Congress has the option to buy back the FED at $450 millions (per Congressional Records).
When the Congress does this, it will own back the billions of US Government Bonds held by the FED.
The US Government will actually PROFIT by buying back the FED! Also, the US government no longer has to pay interests to the FED owners on those bonds.
2. Through their ownerships in the FED, FOREIGN POWERS CAN and WILL influence the US economy. By controlling our interest rates and money supply, they can actually create economic disaster in the US, should the US disagree with them.
3. Although the FED directors must be confirmed by the Senate, the awesome lobbying power of the FED owners makes this process meaningless. The owners of the FED can and will put whoever they wish in the position.
4. Abolishing the FED will lead to lower inflation. At this moment, the FED prints as much money as needed to buy the US Government Bonds. Since the FED prints this MONEY out of THIN AIR, this leads to an INCREASE of MONEY SUPPLY, WITHOUT increase in GOODS/SERVICES. This, as all of us know it, leads to INFLAFION.
If the general public buy those bonds with money that they EARNED by providing GOODS/SERVICES, the money supply level is contant in relation to the goods/services level. Thus, there is no inflationary pressure from selling these bonds.
5. Abolishing the FED will reduce the national debt level. By buying back the FED at $450 millions, the US Government will buy back the billions of dollars of bonds held by the FED. Thus, the net effect is a reduction in national debt. After buying back the FED, the US Government does not have to pay interest on those bonds it buys back, further reducing the national debt.
6. Abolishing the FED will lead to eventual balance budget. Today, even if the US Economy only grows by a meager 2%/yr, the US Government should be able to put 2% of US-GDP dollars into circulation WITHOUT INFLATION.
Consider, if the goods/services grow by 2% and the money supply grows by 2%, the ratio of goods/services vs. money supply remains constant. Thus, no inflation is created.
The government can use this extra money supply to fund its project without raising taxes.
As long as the government does not print money more than the goods and services available in the US, there will be no inflationary pressures.
This had in fact been done with Executive Order 11110 of President Kennedy. Kennedy ordered the Treasury Dept. to print a US GOVERNMENT NOTES (vs. FEDERAL RESERVE NOTES). In effect, Kennedy bypassed the FED by making the Treasury Department printed REAL US MONEY, instead of selling bonds to the FED for almost free.
The sad fact is, the US Government does not do this anymore. Instead, the US Government sell bonds to the FED, which buys those bonds using money they don't earn. Thus, the US Government must now pay interest on those money that it "borrows" from the FED.
7. By point (6) above, the US Government can actually reduce taxes on everybody since it has more interest free money to spent in the amount equal to the growth of the US GDP. KEEP IN MIND,
THIS MONEY WILL NOT CAUSE INFLATION, since the money is printed along with the growth of the goods and services.
What you can do to save the United States of America
The FED should either be AUDITTED every year, or be abolished. I have done my part providing this information. It is up to you to decide the future of the US economy. Please do the followings:
1. DO YOUR OWN RESEARCH!!!!
If everything that I wrote here sounds too far fetched to be true, I challenge everyone of you to do your own research, and see for yourself.
Recommended literatures:
- Encyclopaedia Britannica.
- Congressional Record
- "The Federal Reserve Bank" by H.S. Kenan
- "Repeal the Federal Reserve Bank" by Rev. Casimir Frank Gierut
- "The Secrets of the Federal Reserve" by Mullins
when you are sure about the facts,
2. Call your Congressman and tell him to support the legislation to AUDIT the FED.
3. Call your representatives and ask them to support legislation introduced by Congressman Henry Gonzales to repeal the Federal Reserve Act of 1913.
4. Push for your home states to introduce and pass a legislation to end the FED scam. The following states have already done so:
Arizona, Washington, Arkansas, Idaho, Oregon, Indiana, and Texas.
Even if you live in these states, contact your representatives and tell them to support the legislation. THEY WILL LISTEN if you care to TELL THEM!!!
5. Ask your STATE and COUNTY government to abolish the FED. Since the FED is CONSTITUTIONALLY ILLEGAL, it MUST be abolished. Ask your state/county governments for the proper paperworks.
If the US Congress refuses to abolish the FED, your STATE/COUNTY governments can do it.
6. Collect signature on petitions calling for the end of the FED.
7. Tell friends and family about this fraud, and ask them for supports. Secrecy is the FED's main strength. Since the media has been quiet, no one even notice this FRAUD that goes on for decades.
Now it is up to the tax payer to be informed. Inform everyone you know about this, and be organized!!!
8. Contact "America Betrayed",
Center for Action,
652 N. Glenview,
Nesa, AZ 85213
9. Contact "National Committee to Repeal the Federal Reserve Act",
P.O. Box 1205, Middleburg, IL60599
10. This article maybe reproduced and distributed freely WITHOUT changes.
The following are 7 potential economic effects of a conflict between Israel and Iran....
#1) The Price Of Oil Would Skyrocket - One of the very first things a war with Iran would do is that it would severely constrict or even shut down oil shipments through the Strait of Hormuz. Considering the fact that approximately 20% of the world’s oil flows through the Strait of Hormuz, world oil markets would instantly be plunged into a frenzy. In fact, some analysts believe that oil prices would rise to $250 per barrel.
So are you ready to pay 8 or 10 dollars for a gallon of gasoline? What do you think that would do to the U.S. economy?
The truth is that every single transaction that we make every single day is influenced by the price of oil. If the price of oil suddenly doubles or triples that would absolutely devastate the already very fragile U.S. economic system.
#2) Fear Would Explode In World Financial Markets - Even without a war, the dominant force in world financial markets in 2010 is fear. We are already seeing unprecedented volatility in financial markets around the globe, and there is nothing like a war to turn fear into a full-fledged panic. And what happens when panic grips financial markets? What happens is that they crash.
#3) World Trade Would Instantly Seize Up - Once upon a time the economies of the world were relatively self-contained, so a war in one area would not necessarily wreck economies all over the globe. But all of that has changed now. Today, the economies of virtually every nation are highly interdependent. That has some advantages, but it also has a lot of disadvantages.
If a war with Iran did break out, nations all over the globe would start taking sides and world trade would seize up. The global flow of goods and services would be severely interrupted. That would be enough to push many nations around the world into a full-blown depression.
#4) Military Spending Would Escalate - Even if the United States was not pulled directly into a conflict between Israel and Iran, there is little doubt that the U.S. would be spending a lot of money and resources to support Israel and to build up military assets in the region in case a wider war broke out. The U.S. has already spent somewhere in the neighborhood of a trillion dollars on the wars in Iraq and Afghanistan. If war does break out with Iran the amount of money the U.S. government could be forced to spend could be absolutely staggering.
The truth is that the U.S. is already drowning in debt. At this point the U.S. government is over 13 trillion dollars in debt, and another Middle East war is certainly not going to help things.
#5) Russia Would Greatly Benefit - Russia and other major oil producers outside of the Middle East would greatly benefit if a war with Iran erupts. Russia is already the number one oil producer in the world, and if supplies out of the Middle East were disrupted for any period of time it would mean an unprecedented windfall for the Russian Bear.
#6) Massive Inflation - A huge jump in the price of oil and dramatically increased military spending by the U.S. government would most definitely lead to price inflation. We would probably see a dramatic rise in interest rates as well. In fact, it is quite likely that if a war with Iran does break out we would see a return of "stagflation" - a situation where prices are rapidly escalating but economic growth as a whole is either flat or declining.
#7) The Price Of Gold Would Go Through The Roof - When there is a high degree of uncertainty in world financial markets, where do investors turn? As we have seen very clearly recently, they turn to gold. As high as the price of gold is now, the truth is that it is nothing compared to what would happen if a war with Iran breaks out. When times get tough, we almost always see a flight to safety. Right now none of the major currencies around the globe provide much safety, so investors are increasingly viewing precious metals such as gold and silver as a wealth preservation tool.
War is never pleasant. If war with Iran does break out it could potentially set off a chain of cascading events that would permanently alter the world economy for the rest of our lifetimes.
So let us hope that war does not erupt. It wouldn't be good for anyone. But the reality is that at this point it almost seems like a foregone conclusion. Tensions in the Middle East are rising by the day, and all sides are certainly preparing as if they fully expect a war to happen.
Even without a war with Iran, incredibly hard economic times are on the way, so if a war does happen it could mean a complete and total economic disaster.
So what do you think? Will a war with Iran devastate the world economy? Feel free to leave a comment with your opinion....