Following the Korean War, administrations of the developing American Empire with its military industrial complex and Federal Reserve financing with taxpayer money stopped bothering to get Constitutional declarations of war.
After bypassing Congress, recent administrations have felt they at least needed some sort of United Nations or NATO consensus for an attack.
That’s old history. Now the Empire believes it needs neither Congress (conveniently on recess) nor the United Nations (in a new interview Colin Powell says it was Cheney who decided the U.N. was not necessary for the Iraq War).
And now the Empire believes it no longer needs any kind of public support. Yesterday’s poll shows only 9% of Americans would support a U.S. strike in Syria.
Only the NY Federal Reserve Bank is the necessary ingredient for war.
The core of America’s crisis – domestically and internationally - is a private bank printing and controlling her medium of exchange for the sole benefit of its owners and their friends. If the Federal Reserve survives, America as we know her dies.
Here are two stories, back to back, that explain what is happening in America:
High level government documents reveal that the Pentagon is preparing in full force for ‘large scale economic meltdown’ and massive revolt via the US public — exactly what we are criticized for doing.
You see the Pentagon and agencies like the Department of Defense (DoD) are in full scale emergency readiness in their own words for ‘cataclysmic’ events that are believed to ultimately ignite riots in the face of chaos and economic collapse, and it’s all out in the open. And it’s one of the reasons that we’re seeing such a massive amount of spying on activists of all kinds, alternative news writers and personalities, and basically anyone preparing for themselves. …
Collapse predictions have turned into ‘war games’ by the Pentagon, which in 2010 were orchestrated to prepare for what the Pentagon dubbed ‘large scale economic breakdown’ and the disappearance of essential services like food… in order to prepare for ‘domestic order amid civil unrest’. …
AND…this story, about how “financial services companies have become global merchants that seek to extract rent from any commercial or financial business activity …”
The Leveraged Buyout of America
Giant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts. They are systematically buying up or gaining control of the essential lifelines of the economy. How have they pulled this off, and where have they gotten the money?
by Ellen Brown August 26, 2013
...According to legal scholar Saule Omarova, over the past five years, there has been a “quiet transformation of U.S. financial holding companies.” These financial services companies have become global merchants that seek to extract rent from any commercial or financial business activity within their reach. They have used legal authority in Graham-Leach-Bliley to subvert the “foundational principle of separation of banking from commerce”. . . .
It seems like there is a significant macro-economic risk in having a massive entity like, say JP Morgan, both issuing credit cards and mortgages, managing municipal bond offerings, selling gasoline and electric power, running large oil tankers, trading derivatives, and owning and operating airports, in multiple countries.
A “macro” risk indeed – not just to our economy but to our democracy and our individual and national sovereignty. Giant banks are buying up our country’s infrastructure – the power and supply chains that are vital to the economy. Aren’t there rules against that? And where are the banks getting the money?
How Banks Launder Money Through the Repo Market
In an illuminating series of articles on Seeking Alpha titled “Repoed!”, Colin Lokey argues that the investment arms of large Wall Street banks are using their “excess” deposits – the excess of deposits over loans – as collateral for borrowing in the repo market. Repos, or “repurchase agreements,” are used to raise short-term capital. Securities are sold to investors overnight and repurchased the next day, usually day after day.
The deposit-to-loan gap for all US banks is now about $2 trillion, and nearly half of this gap is in Bank of America, JP Morgan Chase, and Wells Fargo alone. It seems that the largest banks are using the majority of their deposits (along with the Federal Reserve’s quantitative easing dollars) not to back loans to individuals and businesses but to borrow for their own trading. Buying assets with borrowed money is called a “leveraged buyout.” The banks are leveraging our money to buy up ports, airports, toll roads, power, and massive stores of commodities. ���