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Archive → October 10th, 2016

Don’t worry about the ‘national debt’

The national flag of USA sticking in a pile of american dollars.(series) 

There’s been some talk on the campaign trail about the “national debt,” which the government and media tell us stands at more than $19 trillion. During the vice presidential debate last week, Mike Pence stated that the national debt has doubled under President Barack Obama.

But what does the “national debt” really mean? Would you be shocked to know that we have in America the identical monetary system that Hitler had and that Russia had and has? We also have a propaganda machine that would have made Hitler blush.

Since U.S. “money” (and the money of the whole world) is bank credit and since bank credit is created by government and commercial banks, then the “national debt” represents bank credit passed or “loaned” upon an unsuspecting public for their real assets and labor.

Translated: Modern money (bank credit) expropriates wealth. In truth then, the huge reported “national debt” is how much wealth the government has stolen from the American people — not how much the government owes.

The “national debt” propaganda covers the fraud that our real assets and real wealth are flowing to the government for exchange ofgovernment-created credit. Just try to get it back!

Yes, indeed, this is witchcraft that reverses our thought processes. And yes, the national debt is an asset to the government, not a liability. Real assets stolen with bank credit are assets to the government, not debt.

Proof: When the local commercial bank “loans” you money (credit) that they create with a bookkeeping entry, this transaction appears on their books as an asset (a deposit) to the bank and a liability (debt) to the borrower who pledged real assets as collateral. Yes, your debt is the bank’s asset. This same system works with the U.S. monetary system.

Fractional reserve banking is a government-approved Ponzi scheme. Banks hold only a fraction of your money in an account, and they do not have reserves on hand to cover all the debt owed them by their customers and the savings customers have deposited. In other words, all banks are bankrupt except for their ability to “create” money.

How do they do this? Based on a formula created by the Fed, a new bank can open with a small amount of invested capital, have zero net transaction accounts (no money on deposit) and immediately “lend” up to $9.3 million by simply creating new money on a computer.

So let’s say that you borrow $200,000 at 5 percent interest on a 25-year note from the bank mentioned above (the one with no money on deposit) to buy a house. You make a monthly payment of $1,169.18 to the bank in the form of your mortgage payment. By the time you have paid off your loan, you have paid the bank a total of $350,754.02. In other words, the bank has now profited to the tune of $350,000 from you on money that never existed. And should you have defaulted on your loan, not only would you have lost whatever money you had paid prior to the default, the bank would own your home outright through a repossession.

The Federal Reserve (which is neither a federal agency nor does it hold any reserves) works this way, by “lending” money to other banks, through either a mark on a ledger sheet or by computer transfer. Real money never changes hands.

Do you think that the government and the politicians want to keep this a secret? For some reason, the Federal Reserve spilled the beans in its publication “Keeping Our Money Healthy,” published by the Federal Reserve Bank of New York in which it said, “our system works only with credit.” All we have to know then is who creates credit, and how is it used?

Fact: Wealth always flows to the creators of credit. Government and banks create money (credit) for one purpose and that is to expropriate wealth. The expropriation of wealth is stealing with no payment intended.

Not only has the government stolen the national wealth and called it the national debt, they have the people believing that they still owe a national debt. Economic writers and pundits will often tell you that each American owes $61,000 (or some similar number) to pay off the national debt.

In other words, after being robbed with credit, the “national debt” implies that we owe the amount stolen from us. An entity which creates credit out of nothing and “pays” it for real assets and production is not assuming a debt by any definition. It is stealing and calling the theft debt. The creation and control of all credit in the hands of a central bank (government) is the fifth plank of the Communist Manifesto. Look honestly at the American monetary system and you are looking tyranny and slavery in the face.

In a booklet entitled “The National Debt,” published by the Philadelphia Federal Reserve Bank, we get this quote:

“The Federal Reserve, in cooperation with the Federal Government, has the inherent power to create money (credit) — almost any amount of it. This power makes bankruptcy out of the question.”

What the crowd believes is wrong and always has been. The crowd believes that there is a “national debt.” They believe this for good reason. There is a whole industry of deception in America which is promoting the national debt myth.

You have heard of vested interest. Well, this national debt propaganda is U.S. government vested interest. This is a mind-twisting myth covered by hard propaganda that nobody will even question. The reason that this is so is simply the existence of widespread ignorance of the nature of modern money (bank credit) and just how bank credit or government credit transfers real resources to the banks and the Federal Government without payment of any kind. Can you guess why nobody wants you to understand that modern money is bank credit that is created out of nothing and “loaned” or “paid” into circulation in exchange for real resources? This is why we say that modern money expropriates wealth.

Think now for a moment. The reported “national debt” has gone into the stratosphere with and since the massive creation of credit. The “national debt” drama did not blast off until all gold and silver as money were removed from circulation by government force. The federal government, with credit money, has in this generation replaced hard currency and hard money with hard propaganda. Under this mirage, they have stolen the wealth and production of the American people and impoverished them. They have stolen the national wealth and there is only one big pool left to steal. The “trillions” in pension funds Americans now hold.

Under pretense and charade from the politicians there is a great threat hanging over this reservoir of credit in private hands. Everybody who has savings or a pension fund needs to understand that nobody owns and controls credit but the federal government — an immoral federal government. If you think that you own your “money,” you need to take a sober moment and try to understand our bank credit money system. Every “penny” that we have left is at risk.

The good news is that it can be reversed if only we will stop believing government propaganda and its army of puppeteers about the “national debt.” The mystique about bank credit (money) fades once we look at the facts and revelations published by none other than the Federal Reserve bank itself.

There is a small cadre of hard core monetary realists in America who have discovered and uncovered the monolithic fraud and deception of theft with bank credit. But this deception is enshrouded with all the force of the system and there will be few who will inquire. It is only our lives, our substance, and posterity at stake.

Every thought that we have. every financial decision that we make, every plan that we have for our future and our children’s future depends on our information, based on facts and reality, not “conventional wisdom.”

Moral decay, economic crisis, and all wars are created with bank credit. Needless to say, the hour is late, but not too late if only we are willing. The truth can be known.


References:  Modern Money Mechanics, Federal Reserve Bank of Chicago.

Two Faces of Debt, Federal Reserve Bank of Chicago.

The National Debt, Federal Reserve Bank of Philadelphia.

Money, The Greatest Hoax on Earth, Merrill Jenkins.

(These books are no longer in print. The Federal Reserve publications can be found online. Merrill Jenkins’ book can sometimes be found on Amazon. You can learn more about the confidence game that is fiat money from Merrill Jenkins’ own words in this special set we are making available to you.  –BL)

Source: Will County News

AFSCME wait out the state till more union-friendly lawmakers could be elected/ Raise your Taxes to Pay

Illinois Policy 10/10/2010

The American Federation of State, County and Municipal employees has used stall tactics in labor negotiations, in an apparent attempt to wait out the state till more union-friendly lawmakers could be elected and hand AFSCME its demands outside the contract negotiating process.

The state’s contract with the American Federation of State, County and Municipal Employees, or AFSCME, expired June 30, 2015, but negotiations for a new contract began months before.

Illinois state workers are already the highest-paid state workers in the nation when adjusted for cost of living. But AFSCME wants more – including automatic four-year raises that would hike payroll 21 percent by 2019, overtime pay after just 37.5 hours a week and even more expensive luxury insurance while employees pay little for premiums.

Throughout the negotiations, AFSCME has used stall tactics to burden the process and made it harder for the state to reach an agreement with the government-worker union.

And now, data from the Illinois State Board of Elections reveal a possible strategy behind the union’s stall tactics: As of late September, AFSCME had contributed over $1.4 million to Illinois-based political campaigns in 2016 alone.

If AFSCME can help union-friendly lawmakers achieve a veto-proof majority in the General Assembly, it can then push through legislation to undermine the labor negotiations process laid out in state law.

In 2015 and 2016, AFSCME backed two bills that would have undermined state labor laws to taxpayers’ detriment. Senate Bill 1229 and House Bill 580 would have stripped the state of its bargaining power by allowing a panel of unelected arbitrators to step in and draft a binding contract between the state and AFSCME. With research demonstrating that arbitrators usually side with unions, the legislation would clearly benefit the union at the expense of state taxpayers, who would have to foot the bill for the expensive contract arbitration would have handed AFSCME. And both bills were carefully crafted to hamstring only Gov. Bruce Rauner’s negotiating team: They both would have expired at the end of Rauner’s term.

In short, AFSCME wanted to remove Rauner from negotiations in order to obtain a beneficial (and costly) contract. Rauner ultimately vetoed both bills, and, although the Democrats have supermajorities in both chambers of the General Assembly, lawmakers were unable to muster the votes to override those vetoes.

If AFSCME’s 2016 political contributions are any indication, AFSCME is working to create a veto-proof majority the next time around.

And AFSCME’s conduct during negotiations and the subsequent impasse proceedingsdemonstrate that it has been playing a stalling game in order to get to the point where a potential legislative victory becomes a reality.

First, AFSCME’s actions during negotiations did not demonstrate a true desire to reach an agreement with the state. The parties engaged in 24 bargaining sessions over 67 days – thelongest negotiations in the history of bargaining between AFSCME and the state.

An administrative law judge, or ALJ, recently recommended that the state’s labor board determine that the parties are at partial impasse. In that recommendation, the ALJ repeatedly noted her conclusion that the state had come to the negotiating table in good faith to reach an agreement. On the other hand, the ALJ stated that the union’s conduct during negotiations “calls into question its commitment to reaching an agreement through bargaining.” The ALJ noted in particular that AFSCME’s effort to push through SB 1229 and HB 580 seemed “inconsistent with a mindset of good faith bargaining.”

Second, AFSCME’s conduct during the impasse proceedings demonstrated its clear intent to stall a final determination of whether the parties are at impasse. The state encouraged the ALJ to adopt a schedule to help speed things along; AFSCME objected. The state requested the parties pre-file their evidence, to speed the process; AFSCME objected. The state began and wrapped its case in five days; AFSCME took more than three times that long.

The ALJ summed up the differences in the parties’ approaches:

The parties proceeded very differently with respect to putting on evidence about these negotiations. The State presented evidence in an overview fashion, focusing on the packages on which the parties had not reached agreement as of January 8, 2016…. The Union proceeded to elicit evidence in a day-by-day, proposal-by-proposal, chronological fashion.

With more than 300 proposals and 67 days of negotiations, AFSCME was clearly not trying to move the impasse proceedings along.

The dragged-out proceedings caused the state to request the parties bypass the ALJ’s recommendation and go straight to the labor board for its final determination. And again, AFSCME objected.

Now with more than $1.4 million invested in political campaigns – and over a month to go before the election – AFSCME’s ultimate goal is coming into view.

If AFSCME can delay the negotiations and impasse proceedings past the election, a new legislature may be able to push through another version of SB 1229 or HB 580 before an impasse determination is issued. That would force the state into arbitration and place Illinois’ tax dollars in the hands of an unaccountable third party with a likely union bent.

From stall tactics to apparent bad faith in negotiations, AFSCME’s actions demonstrate it is not interested in reaching an agreement. As such, AFSCME is not only failing the taxpayers who must pay for AFSCME’s contract, but also state workers. While AFSCME plays political games, its own members are left without the stability of a contract.

TAGS: AFSCME: American Federation of State County and Municipal Employees

AFSCME is working to create a veto-proof majority.

Source: Will County News

Hillary Worried About Jihadists Entering With Refugees In Private Speech

Hillary Worried About Jihadists Entering With Refugees In Private Speech



In a private 2013 speech, Hillary Clinton worried about the risk of “jihadists” entering Jordan with “legitimate refugees” because “they can’t possibly vet all those refugees.”

Clinton today wants to increase the amount of Syrian refugees the United States takes in by 55,000 annually. She believes that the U.S. refugee screening process is comprehensive enough to catch potential jihadists trying to enter the country, though FBI Director James Comey has said that the vetting process is severely limited by a lack of available data.

U.S. Democratic presidential candidate Hillary Clinton speaks to the Annual Session of the National Baptist Convention in Kansas City, Missouri, United States September 8, 2016.  REUTERS/Brian Snyder

U.S. Democratic presidential candidate Hillary Clinton speaks to the Annual Session of the National Baptist Convention in Kansas City, Missouri, United States September 8, 2016. REUTERS/Brian Snyder

“So I think you’re right to have gone to the places that you visited because there’s a discussion going on now across the region to try to see where there might be common ground to deal with the threat posed by extremism, and particularly with Syria, which has everyone quite worried, Jordan because it’s on their border and they have hundreds of thousands of refugees and they can’t possibly vet all those refugees,” Clinton said before the Jewish United Fund Of Metropolitan Chicago during an October 2013 lunch.

Read more: http://dailycaller.com/2016/10/10/hillary-worried-about-jihadists-entering-with-refugees-in-private-speech/#ixzz4Mj2m5mF2


Source: Will County News

Propaganda is really expensive

104684801The federal government spends more than $1 billion each year producing propaganda to promote everything from Obamacare to the Post Office. But the most significant portion of taxpayer funds used for propaganda goes to the Pentagon.

That’s according to a new report out from the Government Accountability Office, which reveals that the Pentagon accounted for a whopping 60 percent of government public relations spending between 2006 and 2015.

Of the 5,000 public relations professionals employed by the federal government, about 40 percent work for the Pentagon.

The new GAO report is light on details about the Pentagon’s specific PR expenditures— but other recent news items provide an idea of where all the PR money goes at home and abroad.

Reports last week revealed that the Pentagon paid a British PR firm more than half a billion dollars to run a propaganda program in Iraq.

As The Daily Beast reported:

Bell Pottinger’s output included short TV segments made in the style of Arabic news networks and fake insurgent videos which could be used to track the people who watched them, according to a former employee.

The agency’s staff worked alongside high-ranking U.S. military officers in their Baghdad Camp Victory headquarters as the insurgency raged outside.

Bell Pottinger’s former chairman Lord Tim Bell confirmed to the Sunday Times, which has worked with the Bureau on this story, that his firm had worked on a “covert” military operation “covered by various secrecy documents.”

Bell Pottinger reported to the Pentagon, the CIA, and the National Security Council on its work in Iraq, he said.

Bell, one of Britain’s most successful public relations executives, is credited with honing Margaret Thatcher’s steely image and helping the Conservative party win three elections. The agency he co-founded has had a roster of clients including repressive regimes and Asma al-Assad, the wife of the Syrian president.

And back in 2008, The New York Times revealed that the military “experts” interviewed on major cable news channels are often paid Pentagon stooges.

Source: Will County News