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Financial system

Financial Revolution Underway Led by Global Banking System

Thursday, November 20, 2008 by: Barbara L. Minton
Tags: financial system, health news, Natural News

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(NewsTarget) There is a quiet revolution going on. It's not a political revolution or a social revolution. It is being carried out without guns, bullets or physical violence, but this aspect makes it none the less real. The world is in the midst of a financial revolution led by the banking system whose representative in the U.S. is the Federal Reserve, a private bank that is not part of our current government system and does not hold reserves. The goal is the complete dominance, ownership and control of all assets by the government. What Americans are now witnessing may be the finest coup d'etat ever perpetrated.

Phase One: Get people to place their money where it can easily be taken from them

In the last quarter century, more people have been encouraged to put their money into the stock market. The Monetary De-Regulation Act of 1980 allowed Americans to invest overseas and foreigners to invest in the American markets. At the same time, employers began to discontinue defined benefit retirement plans for their employees. These plans were replaced by employer sponsored retirement accounts that offered stock as the only viable way to capture the kind of return needed to fund a retirement. The onus for management of these accounts fell to the employees who for the most part didn't have a clue about the stock market or how to manage money.

The stock market was hyped by everyone. Entire TV channels were devoted to continuous, all day coverage of the markets with one prevailing mantra: buy and hold. Investing for the long term was paved as the road to riches and retirement. Every effort was made to convince new investors that when the market declined, it was the time to buy even more stock. Soon the nation was obsessed with the stock market and statistics loudly heralded that more than half of Americans owned stocks either individually or through their retirement plans.

The market roared higher and the party was on, lasting until the new millennium. At that point people even began calling for Social Security funds to be put into the market, but try as they might, the Bush people were unable to put this last safety net for Americans into jeopardy. When it became apparent that Social Security funds couldn't be added to the market to fuel it even higher, the lights went out on the party, and people in the know scrambled to grab the money.

Part of the buy and hold mantra has been that the market always comes back. The problem is investors have to wait for the come-back, sometimes for decades. People who bought and held at the beginning of the Great Depression in 1929 did not break even again until 1954, and that doesn't account for inflation.

Selling high is one of the biggest transfers of wealth from the uninformed to those in the know. People selling at the top or shortly after the market starts to go down are able to walk away with the gains. People who hold can only watch as the market continues to decline and their gains evaporate. It is only because enough were conned into believing in the buy and hold strategy that there was a pool of money just waiting to be pocketed by the sellers.

The future looks rosy for those who sold at the top or shortly after the decline began. They have a pocket full of cash with which to capitalize on the next up market. Now all the commentators say cash is king. Too bad for those still holding stocks. Once those that are left in the market realize they have been had, they will sell too, bringing on another huge leg down of prices. The unfolding of this financial coup is helping them catch on, and the next leg down is probably right around the corner.

Phase Two: Gather assets and place them under government control

For those still thinking it is too late to sell and stubbornly holding on to their 401(K) accounts, new legislation is afoot to take care of them too. During the week of Oct. 6th, a professor of economic policy analysis laid out a plan before the House Education and Labor Committee and the House Ways and Means Committee's Subcommittee on Income Security and Family Support. Here are the components of the plan.

1.All workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. This money would be invested in special government bonds accruing interest at 3 percent per year. (This is a lot like the current Social Security progam)

2.The current system of providing tax breaks on 401(k) contributions and earning would be eliminated. There would be no more federal subsidy of 401(k)s. A 401(k) could continue to exist, but there would no longer be the subsidy of the tax break.

3.Congress would allow workers to swap out their 401(k) assets and transfer their money into the new government plan, perhaps at the levels where the stock market was before the financial crisis began. (The idea here being to induce holders of 401(k) plans to turn over their plan assets to the government in exchange for restoring the balance in their 401(k) to the level prior to the stock market collapse in September and October)

4.The new plan would allow workers to pass on only half of their account balances to their heirs, with the government presumably keeping the remaining half

Under this plan, matching funds contributed by employers would also be subject to income taxation and additional FICA taxation for both employer and employee. Eliminating tax breaks would push individuals into higher tax brackets even though they have no additional disposable income. However, the most glaring feature of this plan is that the government would become the owner of 401(k) assets.

And for the crowning blow there is the Treasury's new guide for how the financial markets and their regulatory structures will be brought into line with and fit into the New Economic Order, another name for the New World Order, the ongoing creation of a solitary fascist world government resulting in the complete loss of sovereignty. The implementation the Blueprint for a Modernized Regulatory Structure (March 31, 2008) is being played out right now, in front of our very eyes. This document, according to its introductory paragraph, is designed to "ensure that finanical institutions have the ability to keep pace with evolving markets". It calls for the Secretary of the Treasury in consultation with the Chairman of the Federal Reserve to have the discretion to purchase assets as deemed necessary to effectively stabilize financial markets. It gives these two appointed, not elected, individuals the power to intervene in the markets of the country as they see fit when market conditions are unstable. It is a guarantee that market conditions will continue to be unstable while the transfer of assets into government hands is underway.

The bailout was the initiating salvo. It proclaimed the power outlined in the blueprint was going to be put into use to deal with a "banking crisis" that appeared one day out of nowhere. This bailout is but one tiny appetizer for the soon to be revealed main course, the unfettered grabbing of assets ranging from precious metals to paper assets and real estate. According to the blueprint which can easily be read online, savings and loans, state chartered banks, thrifts, credit unions, the mortgage industry, insurance carriers, and the transfer agents for Wall Street will be the first to fall under government control. The Blueprint gives the Federal Reserve the power to oversee all of American's financial markets. It brings the government in line with the socialist model cast for the New World Order. It creates an absolutist state controlled by corporations and international bankers.

Under this new authority, courts are barred from reviewing actions taken by the Treasury Secretary and the Federal Reserve. They are now effectively above the law and have more power than the President, who still must conform to the legal structures.

It is no coincidence that the "financial crisis" opening the door for this coup began during the ongoing hoopla over the presidential election. While the nation was busy obsessing over minute differences between the candidates, the central bankers were walking away with the real power. It is Paulson and Bernanke who now run the country. Obama and the role of the president have been marginalized. As programmed bankruptcy and economic depression set in, the American population will be reduced to serfdom with an economic status that parallels that of Mexico and other third world countries, preparing the way for the gathering of these countries under the New World Order.

A recent article by Kurt Nimmo quotes Carrol Quigley, a longstanding member of the Council on Foreign Relations who tried to warn us back in 1966 when he wrote: "The powers of financial capitalism had far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This stem was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank . . . sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."


Kurt Nimmo, "Bailout: It's all part of the New International Economic Order", infowars.

"Hold on to your 401(k). . .if you can", PerotCharts.

"BLUEPRINT for a Modernized Financial Regulatory Structure", United States Department of the Treasury.

About the author

Barbara is a school psychologist, a published author in the area of personal finance, a breast cancer survivor using "alternative" treatments, a born existentialist, and a student of nature and all things natural.

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