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© 2011 Eric Odom - Movement Politics
I have to warn you up front, this post is not at all optimistic. In fact, while writing this I’m feeling almost completely void of hope in the current structure of government in America.
Yesterday, while taking a break from a client’s project and stepping away from the Mac for a few hours, I ended up watching “Inside Job,” a documentary about the events that led to the 2008 financial collapse.
First, let me say there is much in this documentary I find off-putting. As is the case with many documentaries like this, there are some other agendas involved and you have to understand that in order to look for the information relevant to you.
For example, I find it extremely distasteful that George Soros and others like him are given a platform within the film. I feel the producers should have disclosed the fact that Soros actually wants and enables this type of activity to occur.
That said, the Soros agenda doesn’t change the facts put forth in the documentary. Or at least, most of them.
I knew a lot about the 2008 collapse, but I had no idea the depth of the connections between Washington and the banks on Wall Street. I know, I should already know this, but it’s easy to get caught up in the little “flash” stories of the day and in many cases they take away from the larger issues at hand.
But after seeing the documentary I started doing some research of my own. I looked into most of what was said and researched it all online yesterday and this morning. It’s all there. Yes, George Soros is interviewed and portrayed as “above the theft” in the documentary, but everything else is on the mark.
Truth is, we’ve all been had. We’re right smack in the middle of the greatest scam in History and you and I are paying the price for it. What’s worse, and possible the most hurtful, is that the work our founding fathers did, along with the lives lost defending it, is being trampled on and used for the benefit of thieves.
A post such as this can’t even begin to explore how big the problem is. For example, many of the leftist protests against the “rich” for damaging our society are actually accurate. The flaw in their effort is that they’ve subscribed to the notion that all wealthy people are in on it, which is not true. Also of note is the fact the leftists have allowed themselves to be brainwashed into believing that $250,000 revenue for a couple owning a small business makes them “rich.”
But the overall idea that a group of ultra-rich “Capitalists” are controlling the economy and Washington is in on it is, for the most part, dead on accurate.
As Glenn Beck is explaining today on his show on Fox News (which ironically details exactly what is laid out in “Inside Job”), it’s all a show. What’s a show? The federal reserve, the U.S. treasury and the administration holding the check book.
Getting back to Inside Job, another of their flaws is framing the story as a “regulation vs. Non-Regulation” war. This is flawed because when you accept the premise that they’re all in on it… both the banks and financial realm on Wall Street, and the people who left it to run the financial realm in government, more or less regulation changes nothing.
As an example, the film begins by discussing several banks in Europe who, after receiving massive infusions of taxpayer dollars, began to fall as a result of poor lending decisions and irresponsible compensation to those running the game. When government officials showed up at the bank, they were met with an army of attorneys. In most cases they weren’t able to get anywhere beyond the attorneys. In the few cases where the government official was able to make headway with the attorneys, the officials were simply offered a job with the bank, at a salary they couldn’t refuse.
What’s happening on Wall Street and in Washington is far worse. Now, in our case, the people controlling the “regulatory” bodies of government are the exact same people who built the scam. The people who ran the financial system in New York during the collapse are now running the federal reserve and treasury.
Whether or not we have Bush, Clinton or Obama as President matters little. All of them allowed Wall Street to place their power brokers in positions of power within government.
Don’t believe me? Let’s scratch the surface a little…
Timothy Geithner – United States Secretary of the Treasury under Barack Obama
n March 2008, he arranged the rescue and sale of Bear Stearns.[12][21] In the same year, he played a supporting role to Henry Paulson, former CEO of Goldman Sachs, in the decision to bail out AIG just two days after deciding not to rescue Lehman Brothers from bankruptcy. Some Wall Street CEOs subsequently expressed the opinion that decisions in which Geithner participated, especially the failure to rescue Lehman, contributed to worsening the global financial crisis.[22] As a Treasury official, he helped manage multiple international crises of the 1990s[14] in Brazil, Mexico, Indonesia, South Korea, and Thailand.[15]
Geithner believes along with Henry Paulson, that the United States Department of the Treasury needs new authority to experiment with responses to the financial crisis of 2007–2011.[12] Paulson has described Geithner as “[a] very unusually talented young man…[who] understands government and understands markets.”[21]
Henry Paulson – United States Secretary of Treasury under George Bush
He joined Goldman Sachs in 1974, working in the firm’s Chicago office under James P. Gorter. He became a partner in 1982. From 1983 until 1988, Paulson led the Investment Banking group for the Midwest Region, and became managing partner of the Chicago office in 1988. From 1990 to November 1994, he was co-head of Investment Banking, then, Chief Operating Officer from December 1994 to June 1998;[9] eventually succeeding Jon Corzine as chief executive. His compensation package, according to reports, was US$37 million in 2005, and $16.4 million projected for 2006.[10] His net worth has been estimated at over $700 million.
Also of note are comments such as this one:
“Well, as you know, we’re working through a difficult period in our financial markets right now as we work off some of the past excesses. But the American people can remain confident in the soundness and the resilience of our financial system.”
That comment came via Henry Paulson before September of 2008, when the financial system began to freefall into collapse.
And let’s not forget, Henry Paulson and Ben Bernanke led the charge to reward Wall Street’s terrible financial scam with a $700 billion check from the taxpayers.
Ben Bernanke – Chairman, Federal Reserve
On February 1, 2006, President Bush appointed Bernanke to a fourteen-year term as a member of the Federal Reserve Board of Governors, and to a four-year term as Chairman.[27][28] By virtue of the chairmanship, he sits on the Financial Stability Oversight Board that oversees the Troubled Asset Relief Program. He also serves as Chairman of the Federal Open Market Committee, the System’s principal monetary policy making body.
This happened, of course, after Bernanke “served” as a leader of the “advisers” who consulted our decisions on the global economy.
In June 2005, Bernanke was named Chairman of President George W. Bush’s Council of Economic Advisers, and resigned as Fed Governor. The appointment was widely viewed as a test run to ascertain if Bernanke could be Bush’s pick to succeed Greenspan as Fed chairman the next year.[26] He held the post until January 2006.
We could go on, and on, and on and on… but the point is that the individuals who drove the car off the cliff were handed the keys to the new car. And that car contains the power to funnel billions and billions of taxpayer dollars to those who already showed their interest is simply to defraud the nation of its wealth, and to do so through the federal government.
So while we all talk about cutting spending here and there, Facebook and the President, a birth certificate issue and whatever else is on the talking points of the day, there is a large group of individuals pulling off the greatest theft in the History of man.
That’s a profound realization that I’m guessing most Americans would prefer ignore.
-Eric Odom
UPDATE: What kind of numbers are we talking about? Try $12.3 TRILLION as a start.
If you still had any question as to whether or not the United States is now the world’s preeminent banana republic, the final verdict was just delivered and the decision was unanimous. The ayes have it.
Any fairytale notions that we are living in a nation built on the rule of law and of the global economy being based on free market principles has now been exposed as just that, a fairytale. This moment is equivalent to everyone in Vatican City being told, by the Pope, that God is dead.
UPDATE 2: It’s actually HIGHER than $12.3 TRILLION
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We need a full blown taxpayer revolt. They can’t put 200 million of us in jail.
It’s WAY past time that the Tea Party re-focus on THIS issue. This whole thing can be summed up in two words: FRAUD & CORRUPTION. This has resulted in an almost entirely captured government. It isn’t that ‘rich people’ are evil, it is that CRIMINALS are evil – and some, special people/entities are above the law, because they have literally purchased much of Congress and many Administrations. Those who control the quantity of money, control governments. It’s that simple.
Oh, and Eric, it’s $14 TRILLION, not 12. http://fedupusa.org/2011/04/19/healthcare-cuts-loom-for-130000-vets/
Thanks. I’ll update the post and include your link.
Dear Everybody,
IT IS NOT JUST THE FED, THE CONGRESS OR THE SENATE. It is all of us. Instead of realizing that our government was destroying real jobs and real revenues to the government and us, we were excited about cheap goods. We let our productive economy with some of the best manufacturing talent in the world be sold off piecemeal. We blamed the greens, the regulations and the unions, but the fact is that these jobs left because we did not keep an eye on our government.
We let people like the Koch Brothers turn us against each other. That’s right. WE DID THAT. We bought the lies about the welfare queens and the abuses of the poor. Not only weren’t they taking a big piece of the pie, but their money actually helped the economy because it was spent locally. We punished the poor. We railed at the skilled workers in trade unions. We griped about union corruption and campaign contributions when the real money was being sent to offshore accounts by banksters, Wall Streeters and our own politicians who own stock in war companies.
IT IS UP TO US TO TAKE THINGS BACK. Doing that will require that we halt hostilities on issues like abortion, gayness and other red herrings and put all of our attention to creating sound economic policies, CATCHING AND JAILING THE CORRUPT REGARDLESS OF THEIR EXALTED POSITIONS; freeing the many patents held in secret by the oil companies that would free us from their control and end the corporate welfare that is making it impossible for small and medium businesses to compete.
We need to rehire people like Bunny Greenatine who tried to report corruption in the military procurement process and the many other whistleblowers like her. We need to investigate what our public officials have really been up to and who they did this with. We need to come together and demand change.
Eric is correct that not all the well-to-do people knew what was going on. Visit tradereform.org, patrioticmillionaires to find out what they have to say. Visit Uncut.org. Let’s get organized to put an end to all of the divisiveness that was artificially-generated by these greedy bastards and take our country back for everybody.
MK
@MK
Nonsense.
Personally I am tired of Liberals’s ignorance, stupidity, lies, bigotry, racism, selfishness and egotism. After netting the personal psychological rewards for cheating, stealing, and abusing your neighbors, Liberals also gain temporary, ephemeral, material rewards.
Enjoy it while you have it. Your calumny will avail you nothing, and your Master will laugh when you demand your reward for your service as a minion of Hate.
Or, repent of your lying villiany and enjoy forgiveness…
Just sayin…
Okay, don’t have a heart attack, but the former editor of the Currency World review, Christopher Story, estimated the entire mess at $500 Trillion. You see, it was not regulated in any way, so some of the real estate slices were sold many many times. Christopher wrote all about this mess long before anybody else took notice. That is why he was killed–a fact that he himself relayed to his readers shortly before his death.
Here are a couple of other things that you may not know:
China figured out that the derivatives were fraudulent and demanded their money back. On Godlike productions, there is an interesting explaination for how the Chinese were paid back by our government SECRETLY to avoid anyone knowing the extent of their theft. THE CHINESE WERE GIVEN OIL STORES (Go check into how much the US bought for their “strategic reserves”), raw materials and military secrets. THIS WOULD CERTAINLY EXPLAIN ALL THE RISING COMMODITY PRICES.
If you go to 4closurefraud.org, you will read about all of these people who have been pushed out of their homes. The reason was because it is illegal to sell a security that has no ASSET BACKING it. Selling pieces of mortgages is not actually legal….this is why these same crooks created MERS (which they also made money from) MERS is the the mortgage Electronic Recording System that has clouded title all across the US and elsewhere and robbed counties of title-recording income while making it virtually impossible for buyers to get clear title to their own homes. (check out the explaination at TBRnews.org)
THESE SAME FRAUDULENT CRAPPY DERIVATIVES (CDOs and Shares of REITS) were sold to European countries. Basically, our crooked banksters have robbed the world of their pension funds with investments DESIGNED to fail.
MK
Well, Eric – welcome to the real world. What, have you been living in a cave?
If you are a serious Tea Partier, you should have known this crap long, long ago. What were you drinking, the DC kool-aid?
I am embarrassed for you that it took you this long to wake up. But glad you now have your eyes wide open.
Essentially there is no hope in the current governing structure. It is corrupt, top to bottom, every bit as bad as any banana republic ever was. Any effort to correct course at this point is wasted energy and wasted words.
I have worn myself out writing and calling these idiots in DC – and I include the current republican “leadership” as well. The only response I ever get is meaningless platitudes and a “pat on the head.” Go away and be a good boy now, while we continue to rob you blind and put you in the poor house.
How could you expect the very people who put us in this mess to lead us out? Fool comes to mind.
There is no leadership in DC. It is all about power and money, and confiscating what little wealth we have left. The only option is to accelerate the collapse of the system so we can start over again. The sooner it happens, the less pain we’ll all suffer through.
You might start reading such places as http://www.gata.org/ http://jessescrossroadscafe.blogspot.com/
http://truthingold.blogspot.com/
You might actually learn how things really work, and then can use your audience and influence to clue in other dumb bells with their heads in the sand.
Wake up, people. The party is over, the candles are flickering and dimming. Protect yourself now, while you still can.
Have I been living in a cave? Well, in some ways… yes. I mean, this isn’t so much new information for me personally, but having something “snap” inside to realize we’re all chasing the wrong fight is certainly a new thought process.
Unfortunately, many, MANY in the movement aren’t grasping this at the level you and I are. And that’s something I hope to help change.
Dear Eric,
Let me say that I admire your forthright manner in talking about the facts that you uncovered. While I wish that your epiphany had come earlier, it came and that is all that matters.
Now, being a “fact-based” thinker, I would like to point everybody to the Polling Report website. You will discover that THE REST OF AMERICA IS EXTREMELY AWAKE RIGHT NOW. The polls are coming in with 60, 70 and nearly 80 percent of the public think that the country is going the WRONG way. Those sentiments have been holding steady for a number of years now.
Furthermore, the last “consumer confidence” polls show that 70 percent of the public HAS NO CONFIDENCE in the economy or those managing it. All that needs to happen now is that we have to come together and organize a plan of action.
There are many groups forming with such plans. I have listed just a few of the various organizations that have appeared on the scene just lately. I would also suggest that everybody who thinks that they understand the economy go spend some time researching “comparative advantage” which is what the current policies are based upon. I recommend that you take the time to understand Ricardo’s THEORIES as well as those of other economists as I have.
Unlike some of the people who posted here, I have actually read the prevailing theory and others extensively. I came to my conclusions after taking the time to study the facts carefully. If you notice, WHEN I POST, I include books, website references and sources of information on the topics so that everybody can make up their own minds on the topics.
I have sent the link to this site to several other places already because what Eric has done is a real ray of hope to me. He has taken the time to figure out what is wrong with what is going on and commented on it. He researched the movie that he saw. He did not just repeat slogans like so many have done.
If we do not do something, the USA is going to fail. It will go into default.
MK
I also saw the documentary and was very surprised that it didn’t matter who was President or which party ran Congress. It was amazing the same financial bigwigs went from large banks to the Government with no accountability.
I believe the conditions for a melt down were put in place in the 70s when the mortgage lending standards were “relaxed” in order to allow lower income people to own houses. (Great idea, let’s give people mortgages even though they might not be able to afford them.) I think the documentary should have addressed this issue also but nevertheless, it was disturbing.
The next President, hopfully it won’t be the incumbant, better take a good look at the FED and figure out what is going on there.
Dear Dan,
Don’t blame the people who bought the houses. They weren’t the real problem. The programs designed to help lower income folks buy homes have been misused. Check out what Catherine Austin Fitts has to say on that topic.
MK
I’ve been yapping for at least 5 years to family and friends that the FED is actually illegal and run by bankers, not the government (misleading though the name of the bank may be) and that Congress abdicated their responsibility to coin money as mandated to them by the Constitution, and with that abdication doomed us to outside influence. George Soros has already bragged about bringing down 4 economies and we will apparently be his 5th. I wouldn’t be surprised if he is one of the board of the Central Bank. Not enough of our congress-folk (except for maybe Ron Paul) know how dangerous the FED is. I agree with Stephanie, he who controls the money, controls the world.
History continues to repeat itself in our country. The Federal Reserve Bank is an even bigger scam than the one you outline here which the Fed. is certainly highly involved in.
The super wealthy nit wits who run the federal reserve bank are the biggest crooks this world has ever know.
The chosen one in the White House just produced his net wealth report and the taxes he paid. Check back in a few years weather he wins reelection or not and we will be able to ad a few zeros to his net wealth.
They kick numbers like millions, billions and trillions around to us common folks who, for the most part, have no concept of such numbers. It’s math and we remain ignorant of it. The US Treasury has the printing presses running at full tilt right now and absolutely nothing but higher taxes to back up what they are printing.
Dear Everybody,
The con game involved is so much bigger than you imagine. The burden of taxes has been shifted from the UBER rich to YOU. Then, they also rigged all the government contracts to benefit them. They also bought companies relating to arms production in the 80s and 90s and got ready for Iraq.
THE NONSENSE ABOUT TRICKLE DOWN IS SO LUDICROUS that I can’t believe that any of us believed it. The fact is that THE INCOME OF THE RICH HAS QUADRUPLED WHILE THEIR TAX RATE HAS FALLEN BY HALF OR MORE. WHERE EVERYBODY GOES OFF THE RAILS IS IN BELIEVING THAT THE RICH ARE TAXED LIKE THE REST OF US.
THEY DON’T GET W-2s or 1099s, they get their income via securities, interest income etc. They don’t need our help in getting their taxes cut, they are avoiding them with their various companies, partnerships and other camoflage. In the most affluent areas of the country, the average tax rate is 15 percent.
READ TAX.COM SOMETIME
Read Perfectly Legal by David Cay Johnston
Read FREE LUNCH by David Cay Johnston
READ “WHY FREE TRADE DOESN’T WORK and what we should replace it with” by Ian Fletcher.
The people should get behind Ron Paul and call for an audit of the Fed. When I was studying for an MBA at the University of Delaware from 1979-1981 an economics professor explained how the Federal Reserve works and absolutely no one in the class had anything to say about it except for me. Even educated people with the direct story don’t seem to comprehend that the Fed members can do shocking things that help themselves while ruining the rest of us! It was a staggering thing for me to observe!
Audit the Fed! Get rid of the Fed! Disgusting, reprehensible, condescending, elitist band of thieves!!! They are an atrocity to the American Way!!!
I always believed that our gov’t was corrupt and that we had no business pointing fingers at other countries and calling THEM corrupt, ie. Afghanistan etc. Yes, they have corrupt gov’ts too but none as well developed and deep as ours. It is a very sad realization and I wonder if ANY one person, like a Pres., can really do anything about it. For starters, if he/she promised they would, they’d never get the funds from the embedded crooks to even run a campaign! I like Joseph Welch’s idea of a taxpayer revolt. And let’s see them put 50% of the population in jail………or even 30%………
The system was put in place in the early part of the 1900′s with the creation of the Federal Reserve banks. The moment the banks were given control of the supply and issuance of our money was the moment we became their slaves.
Currently the Federal Reserve banks create money out of thin air to loan to the government in exchange for securities. Those securities are sold to investors and the banks and investors make a profit off the securities when they mature.
There is no good reason the government must owe banks and investors money when it spends more than it has. Cut out the middle man and just let the Treasury create the money out of thin air instead of letting the banks create the money and then all of us having to pay them interest for doing so.
Then there’s the fraud of fractional reserve banking. The banks and the law see our deposits as money we have given them with the understanding that they can make loans with it. If all of us went to our bank and demanded “our money”, they would have to shut down. Sure, we have the FDIC, but that’s a scam too, we as taxpayers get to foot the bill for that.
The very foundation of our financial system is a scam set up to milk the common man.
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
– Thomas Jefferson
Same topic Beck had on his show today. When will Americans wake up?? I agree that the FED must be investigated. I was in real estate through the years when getting a loan was easy if you were breathing, got out before the crash, but can see it getting ready again. Just a form of redistribution of wealth!
Many Americans are buying precious metals, stocking up on survival gear and food, and forming militias in their own neighborhoods. There are groups forming that are seriously considering seceding from the government in Washington, as did the colonists during the revolution. Two of the biggest, most influential Internet organizations, Facebook and Google, are squarely behind Obama.. Facebook was founded in 2004, a few months before the Democratic National Convention, at which Obama was thrust onto the national scene. Coincidental? A Facebook executive was instrumental in organizing the demonstrations in Egypt. There are six former Google executives in the Obama administration. When I do internet searches, I use an engine that does not record IP numbers. Don’t put any personal information on Facebook, or in your emails. Watch your back, and keep your powder dry.
I also saw the movie. Like you I was ticked that they allowed soros and Bawney Frank a stage, and did not implicate them in this fraud. Keep in mind Soros ownes movie companies in Hollywood, and with lefty Matt Damon narrating, you know which way it may lean. However, what was exposed is enough to flip the stomach. We would need to have a revolution to oust all the criminals, and deport them all.
As long as you call people “lefties,” you are still coopted by this system. Stop it. Most of you don’t actually know what the other side believes in. I am squarely in the middle. I definitely believe in liberty, but I also believe in a society with compassion, justice and retribution.
If there weren’t people like Matt Damon, this movie would never have been made. Ever.
Drop the labels. Wake up.
It’s obvious to me that money corrupts! So our representatives should not make more than the average of their constituents. They can then feel our pain. I believe that there should be a reasonable cap on campaign war chests, say $1 million, so that the richest man or woman doesn’t buy the election. I think the common man or woman can better represent us. I am sick to death of the wealthy making their millions on our backs. We’re scraping to put food on the table and they’re trying to figure how to get more from us. NO MORE, this has got to STOP. PEOPLE we have to change this NOW. Let’s give them our version of CHANGE! SIMPLIFY THE GOVERNMENT!
Well folks… this is actually small by comparison to the manipulation going on in the precious metals market… Go to GATA’s website, there should be a link to a recent CFTC meeting… there you will hear admissions of the selling of gold and silver at the tune of 100:1 leverage… meaning that the gold/silver market is being controlled the same way as the rest of our economy… with paper.
The same players are involved… Goldman Sachs, Morgan Chase… all joined at the hip with English banking and American and English government.
The gold/silver market is a multi-trillion dollar market… it sets the backdrop for all other transactions… ie acts as a true international value reserve… is, along wth oil, but even more significant, the measure of inflation. Manipulation of this market is what has been keeping the printing presses going while providing the illusion of stability… not to mention making the insiders a fortune as they artificially force the market down while at the same time shorting it.
Let’s face it, no one is interested. When I try to send people email’s like this , they tell me that they don’t want politcal emails. They want stupid junk or ridiculous jokes. They don’t want to wake up and hear the truth. They keep telling themselves that it’s a lot of nonsense. Are they in for a surprise. God Bless and help the United States of America. It’s residents are many that care and many that don’t and won’t until the walls come tumbling down.
One thing I find interesting in these comments is that no one has mentioned, unless I just missed it, the Financial Reform Bill passed last year. Seems to me that bill simply casts in stone the corruption that’s being talked about here. A primary purpose of that legislation is to allow the Treasury and the Fed to decide, with no debate, that a company is too big to fail and must therefore be bailed out by the taxpayers. In addition, companies can be confiscated by these crooks and liquidated, with no legal review or judicial appeal process. The entire foundation of that legislation makes many of the alarming practices noted in these posts legal.
Dear Wayne,
You’re absolutely correct in your assessment of that legislation. The fact is that for about 40 years, we have been slowly rearranging this country for the benefit of a select few. This process is pretty well documented in some of the books that I have mentioned.
We are going to have to REVERSE a lot of the laws in this country in order to get back to where we need to go. We will also have to restructure our judiciary because they have not been doing the job that they were supposed to be doing since 1933.
The only thing that is saving us from that idiotic law is the fact that no country in the world wants to buy the bonds that would be created from that legislation. Actually no country in the world wants to buy any bonds or securities from the USA any more. They know that the CDOs and other derivative securities were rigged to fail and they are pissed. The only reason that they have not done anything about it is because they would have to tell their people what they have done and that would be political suicide.
There is no doubt that this is a big mess.
MK
If you search further you will find George Soros is head of the AFLCIO, of which has every union in it. He is also a card carrying Socialist. He is trying to lead this country down the road to communism.
Dear Mr. Lubiani,
What do you have against unions? Unions created the middle class. Why is it that so many of you seem to be suffering from pernicious Rush Limbaugh-ism. Go read about the Fabian Socialists. You will discover that George W. Bush, Tony Blair and many of the monsters of the last 30 years are all Fabianists. What you will discover about Fabianism is what will startle you.
The notion of having employees own the means of production is not particularly horrifying or bad. Dismissing something by labelling it is a tactic of the far Right. They are the ones who have largely been responsible for the mess that we are in…they are socialists, too, except that under their socialism, they OWN everything and everybody else works for peanuts.
If you search further, you will find that George Soros is head of the AFLCIO, every union belongs to it. He is trying to make this country a socialist country. He is a card carrying Socialist. He lends his ideas to Obama, which Obama supports.
I always thought it was strange that George Soros has a standing invitation to the White House….now I know why.
George Soros is no socialist… he will ride any train going his way…
Perhaps the reason no one mentioned the Financial Reform Bill is that there are simply so many directions in which to point one can’t mention them all in a single breath… btw, as to that bill… try opening a brokerage of bank account out of the country… Canadian… Panamanian, you name it… they will take clients from anywhere in the world but the U.S…. Among other things, that bill has made us all financial prisoners…
Still, the root of this problem is monetary… a long story, and as just one more contributor to this site I probably merit about as much credibility as anyone else… but if anyone is interested, the states must go to a hard money system… some are starting to realize this… short of this I guess we revisit 1776…
Eric
But the overall idea that a group of ultra-rich “Capitalists†are controlling the economy and Washington is in on it is, for the most part, dead on accurate.
The ultra-rich are
Builderberg’s
Club of Rome
Rothchild’s
Illuminati
Counsel of Foreign Relations
Trilateral Commission
New Age Movement
All are trying to usher in the New World Order.
WND 1/7.08
Kissinger: Obama primed to creat New World Order.
Fox 5/22/10
At West Pt. Obama presses for New World Order to defeat Al Qaeda
Let’s not berate Eric too badly here. I think MANY in the Tea Party lost sight of what the whole movement was about in the first place.
April 25, 2008: http://www.youtube.com/watch?v=3Y0c1dpD4yY
What is important is that we all work together NOW. We MUST stop this! The mathematics of our economic situation say that we do not make it to the 2012 elections before our government collapses. If we wait until that happens, it will be too late, as history proves beyond all doubt, that without exclusion, we do not go from freedom to freedom, but from freedom to bondage.
Our real economy is being literally destroyed by the banks that have ‘legally’ stolen taxpayer money. These banks are insolvent, yet they are paying themselves billions of dollars in bonuses – with OUR MONEY! Meanwhile Congress speaks of cutting Social Security and healthcare benefits to our serving military. A total of $14 TRILLION has been handed out to bankers and Wall Street in the past 3.5 years. Now compare that to the measly cuts Congress is suggesting to ‘balance the budget’. As it is right now, we would need to cut 43% of the entire government in order to balance the budget.
This situation is the most dire and urgent thing we have ever faced. For the Tea Party to be focused on ANYTHING else is a complete waste of time….because nothing else matters if we lose our country, now does it? The problem is that some Tea Party groups have been co-opted by the GOP and make no mistake, the GOP is not in the least bit interested in stopping the fraud, because they are as big of beneficiaries of the Wall Street largesse as the Democrats. But the Tea Parties that have retained any autonomy must speak with one voice and we must do it loudly and do it now.
http://fedupusa.org/2011/04/21/welcome-to-the-party-the-tea-party-wakes-up/
I agree with just about everything you said Eric: New World Order Globalists and Socialists in the International banking community, all of whom have the same genesis, philosophical origin, and Socialist plan are responsible, not the Capitalists. While I do not think you were blaming the Capitalist system, we all need to be very cautious about blaming the markets because free markets are necessary for price setting in a Capitalist Society. These same international bankers, at some point, will want to abolish the markets, and that is when we starve and the lights go out. Without free markets, no industry knows what or how much to produce. The government needs to be relieved of all of its regulatory functions. Yes, we could have problems at some point, but at least we would not be beleaguered by money and power-mad New World Order Socialist Globalist Corporatizers. Nothing ever runs completely smoothly 100% of the time, but by the same token, we do not want crooks operating our government.
Democracy itself is not responsible for our problems, nor is it the fact that the United States is a republic: Democracy has to operate within a narrow range of ethical Constitutional limits based on Common Law and in accordance with common practice. If the republic operates within a narrow range of constitutional limits, there are no violent swings from “Right” to “Left” and back again. This means that if it is illegal for a man to rob a bank, it is also illegal for the government to enact laws that rob banks or take them over because the government is restricted by the same laws governing a private citizen. Private property must be held inviolate both by citizens and by the government, in order to maintain a democracy or a republic. The strengthened CRA was definitely illegal: The law required that banks throw money away on bad loans. That is our money, the depositor’s money, and federally guaranteed mortgages are guaranteed by our tax payer money as American citizens.
Total deregulation of banking is the majority of the answer to the on-going banking crisis, including Ron Paul’s thrust to end the Federal Reserve. The banks need to be back in private hands. But, you also need to know, in case you do not, that when a Socialist government takes over an industry, such as GM or banks, they always re-privatize at a loss because “Big” government has no ability to manage any business at a profit. Of course, when the banks or businesses are being gutted of its assets, which is usually the case; there is no actual profit. The industries/banks are frequently sold off to crooked cronies when they are re-privatized. That way the public does not understand the real condition of the industries or banks, how much the industry has been gutted of its assets, except that it is always sold at a loss which gives a clue. Crooks love to get hold of banks for their money laundering operations.
The real genesis of the financial crisis is outlined below:
The majority of the mortgage loans were underwritten by the FHA and the VA, government guarantors. FHA and VA require absolute compliance with their guidelines, in order to make a federal guarantee. Government underwriters analyze the loans, checking for the presence of all qualifying factors, including income, assets, and debt to asset ratios. Banks and mortgage companies must follow FHA and VA rules implicitly because without a government guarantee or Private Mortgage Insurance, the originating lender cannot resell the loan. There is no market for loans that are not underwritten by a mortgage insurer. Private Mortgage Insurance is more expensive than the government guaranteed mortgage insurance, so most low and middle income borrowers opt for government guaranteed mortgage insurance.
The strengthened CRA mandated that banks loan to under-qualified borrowers, which was pushed off on the banks in Chicago by ACORN. FHA and VA guaranteed all of those loans. The government knew everything the banks were doing, in fact mandated it. The banks would have been sued, if they had not loaned to under-qualified borrowers as mandated by the strengthened CRA. This means all of the home loan mortgages that were guaranteed by the government must legally be covered by the American tax payer in the case of default, which is why the “Bailouts”. This is also why the strengthened CRA must be repealed, deregulating our banks, making them fiscally responsible once again, getting the American tax payer off the hook for government mandated bad loans. Apparently because of the strengthened CRA, it could be argued that mortgages carrying Private Mortgage Insurance would have to be guaranteed by the government, which they were. Also, since the government was primarily responsible for the crisis, I’m sure Private Mortgage Insurers would not have allowed a situation where they were not covered. Banks are still mandated to make bad loans, until the strengthened CRA is repealed.
The banks got involved in fraudulent transfers of title when the loans were sold over and over. The documents did not keep up with the bookkeeping entries as the loans shifted to new lenders. Banks dummied up and forged mortgage documents because they lost track of the paperwork. This is an industry problem: Many banks are slow in completing the final processing of the mortgage documents, associating the final title policies and requesting other missing documents, in order to close out the mortgage files. Banks do not even want to pay anyone to do that particular job, and no one in the mortgage division wants to handle closing out the loan files. For these reasons, it was very easy to enter the figures in the ledgers for the mortgages purchased, but there was probably never a single loan file delivered at the same time the figures hit the books.
Here is another critical topic that relates to governance by wealthy socialist elitists. What I do not understand is why our Congress has done nothing to impeach President Obama for his overreach. Congress has instead chosen to constantly play catch up, trying to enact laws that circumvent his czar power. The czars are illegal. We have the provision for Separation of Powers in our Constitution, so it is incomprehensible that any president who behaves like a dictator would be tolerated. The fact that President Bush was involved in some occasions of overreach does not make Obama any less culpable. It seems certain that if a Democratic congress could have impeached Bush, they would have. Obama is behaving much like Chavez of Venezuela, and if he goes much further, it seems certain that he will be executing dissidents. Isn’t that actually what Clinton appeared to be doing? Overreach is a deadly dangerous problem. We must make our congress act to impeach presidents who do not recognize the Separation of Powers!
Your idea of refusing to pay our taxes is a good one! But, impeaching President Obama is an immediate priority before we next greet each other in the Gulag.
A little addendum to the above: When people are out of any relationship, which President Obama and his chief regulators are, they have to be stripped of as much power and authority as possible, in order to bring them back into line, and stop their power-mad excesses. That is why Obama must be impeached. He cannot be allowed to continue usurping the powers of congress or our congressmen will find themselves in the Gulag right along with the rest of us. The problem for all of us is that it is less expensive to exterminate dissidents than to maintain them in jails: The dead do not have to be fed.
Good morning Eric, would you like an espresso this AM? I have a very fine machine, grinder and roaster and would be pleased to serve you with a nice double shot – straight up.
I, along with FedUp (Steph, who commented above) have been on this for the last four years. As was said in “Die Hard”: Welcome to the party pal!
Here’s my welcome post…. http://market-ticker.org/akcs-www?post=184747
Happy to work with you in this area – after all, trying to get these problems fixed is pretty much all I do.
Welcome aboard, Eric!
We at FedUpUSA are very glad you had your “lightbulb moment” (or whatever you want to call it) and we look forward to working with you to ensure everybody has the same chance at clarity, so our nation can have a chance at survival.
Stop the LOOTING…Start PROSECUTING!
All of this evil behavior, in the last days, was prophesied thousands of years ago and is leading up to the only government that can save mankind – The Kingdom of God on earth, ruled by Jesus Christ who is INCORRUPTABLE. The Book of Revelation reveals that in the last days, 10 kings will conspire to create a ‘One-World’ government, which will be CRUSHED by God at the 2nd coming of Christ. You see, even government, “By and for the people”, will come to an end, finally putting to rest the idea that mankind can rule itself, no matter what the form of government. The end of America is near, and the beginning of the final ‘Beast’ power will rise, and then the end will come. Then the THEIVES will be burned as ashes under the feat of the righteous.
So rest easy those who love God, as it does not matter what these men do, for God has promised that his people will inherit the earth, and ALL of its wealth. I know the end of the story, and WE WIN.
AMEN brother. Looking forward to meeting you!
Does it occur to anyone that the actual dollar will become worthless. Any cash you have on hand will buy you nothing. The crooks are now buying up all the assets from bankruptcies and may allow you to work as a slave for them in order to live in one of their houses. They will own massive properties and companies, and resources, bought with the fiat currency while it still can buy something, leaving you with nothing and no power to fight them. Even if you own a paltry sum in gold or silver, you cannot combat them because they own most of the rest of it.
There will be no currency and the wealthy won’t care because they have already converted it into assets.
My recommendation: when the revolution comes, and it will, don’t take out your anger on your fellow American who is in the same boat you are. Instead, target the instigators. Focus on how to bring them down. If all the adult citizens in the country, more than 150,000, picked a target…just one of the 5,000 or fewer of these crooks…then when the stuff hits the fan, track down your target and serve them justice. There may be thousands of other citizens tracking the same target, or you may be the only one, but the target will never know who is tracking him. Do NOT take on your fellow sufferer…just the evil ones who have caused this collapse. THEN we set about putting the country back together again.
Eric and other readers, here is a URL to information you will probably respect:
Before Its News: Kennedy Killed by Rothschilds
http://beforeitsnews.com/story/574/003/JFK_Killed_Just_Days_After_Shutting_Down_Rothschilds_Fed_Reserve_In_1963:_Secret_Memo_Shows_President_Signed_Executive_Orders_EO-11_And_EO-110_ORDERS_ARE_STILL_IN_FORCE_BUT_NOT_ENFORCED.html
WELCOME ERIC!!!!
Good Morning Sunshine!!! Time to get work… and I’m here to help you!!!
Nice article Eric! The only hope we have is reviving the original impetus for the Tea Party, anger at the financial fraud rape and pillage perpetrated on the citizens. At that time it did not matter what political stripe you wore, simple outrage at the systemic control fraud was enough. You can not have chosen any better allies than FedupUSA and The Market Ticker. They have remained focused on the true problems and avoided the R and D distract and divide trap others fell for.
Keep up the good work!
TX in 1880
I got this email today and the person who wrote it is a little crass with some of his words but what he says is soooo true.
Quote:
THIS SENIOR CITIZEN NAILED IT!!!!!!!!!!!!!!
Alan Simpson, Senator from Wyoming , Co-Chair of Obama’s deficit commission, calls senior citizens the Greediest Generation as he compared “Social Security” to a Milk Cow with 310 million teats.
August, 2010.
Here’s a response in a letter from a unknown fellow in Montana …
I think he is a little ticked off! He also tells it like it is !
—————————————————————————————————————————-
“Hey Alan, let’s get a few things straight..
1. As a career politician, you have been on the public dole for FIFTY YEARS.
2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63).
3 My Social Security payments, and those of millions of other
Americans, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero ambition losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would have made Bernie Madoff proud.
4. Recently, just like Lucy & Charlie Brown, you and your ilk pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age 67. NOW, you and your shill commission is proposing to move the goalposts YET AGAIN.
5 I, and millions of other Americans, have been paying into Medicare from Day One, and now you morons propose to change the rules of the game. Why? Because you idiots mismanaged other parts of the economy to such an extent that you need to steal money from Medicare to pay the bills.
6. I, and millions of other Americans, have been paying income taxes our entire lives, and now you propose to increase our taxes yet again. Why? Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money. Now, you come to the American taxpayers and say you need more to pay off YOUR debt.
~~~~~~~~~~~~~~~~~~
To add insult to injury, you label us “greedy” for calling “bullshit” on your incompetence. Well, Captain Bullshit, I have a few questions for YOU.
1. How much money have you earned from the American taxpayers during your pathetic 50-year political career?
2. At what age did you retire from your pathetic political career, and how much are you receiving in annual retirement benefits from the American taxpayers?
3.. How much do you pay for YOUR government provided health insurance?
4. What cuts in YOUR retirement and healthcare benefits are you proposing in your disgusting deficit reduction proposal, or, as usual, have you exempted yourself and your political cronies?
It is you, Captain Bullshit, and your political co-conspirators called Congress who are the “greedy” ones. It is you and your fellow nutcases who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes. That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic political careers. You know it, we know it, and
you know that we know it.
And you can take that to the bank, you miserable son of a bitch.
end quote
Impeach them when we can, vote them out when we can’t.
Welcome aboard Eric!! Please use your connections to get the TP moving in the right direction.
[...] The greatest financial theft in the History of man [...]
Dear Eric,
For more information with real names and bank accounts, go to tdarkcabal.blogspot.com This is a site put together by agents trying to root out corruption among the political set. You will find proof of VERY HIGH LEVEL CORRUPTION that has gone on for decades.
There are so many things that I could talk about that aided and abetted the corruption process that few members of the public get. For example, remember the big push to make appointed judges “elected” so that they could be “more accountable” to the public? That wasn’t about accountability at all. It was about finding a way to legally control judges across the country with BRIBES known as “campaign funds.” Look at the campaign “reform” laws. Campaign funds, hard and soft, have become bribery mechanisms.
There were people who tried for years to tell the truth about the offshore accounts that belong to public officials and their friends. Some of them were my friends. Some of them are now dead or in hiding.
All the crap about the voter fraud that got circulated by John Fund? It was untrue. I know, I worked as an election judge. We routinely asked for driver’s licenses to verify that people lived in the district etc. VOTING MACHINES ARE THE REAL CORRUPTING ELEMENT in the voting process. Visit Blackbox voting and read what they have to say. Visit Bradblog. Visit the VelvetRevolution.us These and many other groups have already proven that (a) it is possible to program the voting machines (b) the programs can be secreted on the magnetic storage in the machine or sent by WIRELESS communications on cards NOT SPECIFIED IN THE ORIGINAL BIDS, (c) Irregularities have been reported for years now and nothing is being done. Google Clint Curtis and find out about his testimony to Congress.
FINALLY, MANY OF THE VOTING MACHINE COMPANY’S CORPORATE BOARDS AND EXECUTIVES HAVE CRIMINAL RECORDS. They should not be supplying this kind of equipment to anybody. There are even members of Congress who own shares in these kinds of companies.
IT IS TIME FOR THOSE WHO CARE ABOUT THIS COUNTRY TO JOIN FORCES AND QUIT FIGHTING OVER LABELS THAT ARE SORT OF MEANINGLESS AND UNITE AS CONCERNED CITIZENS
There are many of us who stand now firmly in the middle of this entire mess. We trust neither party for obvious reasons. Regardless what you might have heard, Libertarians aren’t any better than the hard Rightists in charge of the Republican Party. Many of them regard Ayn Rand as their prophet and she is not just a nitwit, but someone with all the characteristics of a true sociopath including the worship of another sociopath, William Hickman a serial killer, and the disdain for human compassion. (Scroogle.org, check out Ayn Rand, sociopaths, William Hickman and “Mark Aames”) Rand believed that “altruism” or helping other people was EVIL.
Personally, I believe that governments are created to help society progress not to take it back to feudalism which is what has happened in the last 40 years. Our economic policies only benefit the wealthy. The TRILLIONAIRES and BILLIONAIRES have consolidated wealth to a degree unknown in the modern era, but very like the 14th Century. They have violated laws like the LOGAN ACT by gathering, like the Bilderberger meetings, to discuss economic and foreign policies to the detriment of all those not in attendance. THIS SHOULD NOT BE PERMITTED.
IF YOU WANT TO CONTINUE LEARNING ABOUT WHAT HAS HAPPENED, READ “PERFECTLY LEGAL” by David Cay Johnston…learn how prosecutions of people with little or no money have gone up, while prosecutions of really wealthy people have gone down. Learn how they write off private jets, facelifts and multiple homes. Then read FREE LUNCH and discover how average people are footing the bill.
I know a lot about the mortgage mess. I was married to an accountant who handled REITs (Real estate investment trusts). I also knew that “free trade” was going to create a Depression, because you see, we tried these exact same policies before, even the derivatives mess, and it gave us the IDENTICAL RESULTS. .How come I knew that and my government officials did not?
MK
Remember Banks do not loan money, they cannot by law. All money/credit comes from our signature and labor. Stop paying into the fake loans and the entire scam will collapse on itself. From here we can start a new, we shall have a world without debt and prosperity for all. You must see it from a spiritual side and let go of the anger.
Namaste, Rob
Folks, watch out for MK, he’s a pretty obvious lefty troll, probably a paid union troll, trying to distort the message. Clues: railing on the Koch brothers, Uncut is a dead giveaway, a lot of his sites are lefty propaganda points. He’s in here with a lot pf prepared pap, he’s posting with a lot of urgency and trying to rile you up. Be careful what you read and watch out for union trolls trying to muddy the waters about their involvement. The banks and Wall street do have a lot to answer for, many of the culprits who contributed to this meltdown are still in their jobs. Many Republicans have left them in place, but so have all the Democrats. If the Donks hadn’t been complicit in the meltdown, they would have had show trials gallore while they held the House, Senate and WH. See any of that? Nuh uh.
The SEIU has targeted the financial system for their own particular version of collapse and MK is unmistakably an agent of that destruction.
Dear Nunya,
Is that the best that you’ve got? Lefty troll? Go back to your G. Gordon Liddy television show. I bet that you thought the senile guys in Guantanamo were real terrorists, didn’t you? Or that Bush really does believe in democracy and wants everybody to be FREE especially if they have oil. Or that his stooge, Obama, was actually a legal candidate.
Grow up. You are like all the paid disinformants living in your mother’s basement sleeping on your Star War sheets and getting paid to post ludicrous statements intended to discredit those who actually read books. I will bet that you have already sent me tons of lesbian porno, because somebody this intelligent has to a guy or gay. READ THE BOOKS THAT I LISTED AND YOU WILL FIND OUT THAT BUSINESS PEOPLE AGREE WITH WHAT I HAVE SAID.
I spent 20 years in high tech BUSINESS. Clearly, you and several other people here do not understand economics. I suggest that you read Stiglitz or Ian Fletcher to find out what you don’t know.
MK
[...] During the second half of the show we will discuss what is going on with the Washington regulatory bureaucracy that enables them and their cronies on Wall Street to control the economy to the detriment of the average American, benefiting a few wealthy banks and billionaires. Eric Odom has an excellent article on it here. [...]
[...] American, benefiting a few wealthy banks and billionaires. Eric Odom has an excellent article on it here. Please call in at 602.508.0960 and let us know your thoughts. Tune in locally to KKNT 960 AM or [...]
People of the United States of America – Unite!
Domestic social and political change is as inevitable as it is necessary – We must change everything about how we think, how we “see” and then, perceive one another. We have outgrown our innocence and now must move forward and past the current socio-political system of blame and the excuse, or dissent and disorder.
Social and political divisions, driven by party rhetoric, spin, conjecture and derision are not productive, patriotic, nor do they move us closer to being united, nor are they progressive.
Read, think, and actively challenge convention, challenge yourself, challenge one another as this is how new ideas, and then new ideals and realities are formed.
In the film Kingdom of Heaven it was said in this way; Be without fear in the face of your enemies. Be brave and upright that God may love thee. Speak the truth always, even if it leads to your death. Safeguard the helpless and do no wrong. Holiness is in right action, and courage on behalf of those who cannot defend themselves.
I also just finished a good article by a professor of good faith and conscience whose views i respect and appreciate a great deal. Here is the last sentence from that article:
“As long as the general population is passive, apathetic, diverted to consumerism or hatred of the vulnerable, then the powerful can do as they please, and those who survive will be left to contemplate the outcome.”
Do with this information what you will, but do it well. Long live humanity.
[...] for the 2008 financial meltdown. Tea Party activist and social media guru Eric Odom wrote an article last week about it entitled “The Greatest Financial Theft in the History of [...]
[...] for the 2008 financial meltdown. Tea Party activist and social media guru Eric Odom wrote an article last week about it entitled “The Greatest Financial Theft in the History of [...]
[...] for the 2008 financial meltdown. Tea Party activist and social media guru Eric Odom wrote an article last week about it entitled “The Greatest Financial Theft in the History of [...]
Great article Eric!!
Ron Paul has been warning us about the Federal Reserve for over 30 years. Finally people are starting to listen. Vote Ron Paul in 2012, he seems to be the only nominee that gets the severity of the situation the US is currently in.
[...] lines. One of the things I like about Ron Paul is his constant hammering at the Federal Reserve. As I’ve written in the past, the federal reserve has serious issues and is at fault for much of what is going down on Wall [...]
Do you blame other countries for hating the US? We can’t even work together to improve our own place and imagine what we do to other places. Our congress does nada to make the right decisions, it’s all about business. It’s embarrasing that our Government works against us instead of for us.