How to Break Up with the Financial System

By DAISY LUTHER | ORGANIC PREPPER | MARCH 26, 2013

Breaking up is hard to do, especially when it is with a tracking service like a financial institution.

Sometimes you can make a clean break and other times you have to remain “just friends”.

The US government actually has a name for people who have no bank accounts – they call these folks “the unbanked”.  The FDIC defines the unbanked as “those without an account at a bank or other financial institution and are considered to be outside the mainstream for one reason or another.”  Another term is “the underbanked” – “people or businesses that have poor access to mainstream financial services normally offered by retail banks. The underbanked can be characterized by a strong reliance on non-traditional forms of finance and micro-finance often associated with disadvantaged and the poor, such as check cashers, loan sharks and pawnbrokers.

According to the government, the above scenarios are crisis situations which must be rectified for “your own good”.  There is legislation on the table in many states to set up banking facilities for the unbanked and underbanked.  The assumption is that most folks who do not deal with a bank are too poor to do so.  This could be true in many cases: high minimum balances, bad credit history, NSFs, and account fees can all preclude having a bank account for those in difficult financial straits.

However, the government has a couple more reasons to insist that everyone should have a bank account:

1.)   Ease of confiscation

We need only to look at the horrible situation in Cyprus to see how bank accounts are like all-you-can-steal-buffets for the powers that be.  A suggested theft TAX of up to 20% of the money in Cypriot bank accounts may be levied in order for the country to meet it’s staggering debts in the terms of the proposed EU bailout.  The banks of Cyprus are loaded with the money of residents and businesses of other countries that have used them as a tax haven.  The banks have been closed for several days and frantic customers are left to withdraw the maximum daily balances from ATM machines in an attempt to salvage what they can.  Many people fear the banks will never reopen their doors.

Think it can’t happen here?  I wonder if the people of Iceland, Greece, Ireland, Hungary, Argentina, Spain, and Portugal thought that too.

2.)  Surveillance

The second reason that “everyone should have access to banking services” is the digital trail that it leaves.  Every dime you receive and spend out of these accounts is part of an intricate system of surveillance.  When your money goes into a bank – any bank – Big Brother knows about it.  It’s a simple matter of compiling information via your social security number (or other federally- assigned number) to find out how much you make, how much you have, and where it comes from.  This can be used to prosecute you for tax purposes, to locate you through where your pay comes from, and to follow your personal money trail for a variety of different reasons.

It can also be used to track your spending – Big Brother can find out that you spent $2000 at a gun store, that you purchased online from a prepper supply website or that you bought some books with “questionable” content in order to paint you as a threat.

Unbanking

So, in this day and age, is it possible to get by completely without a bank account?

It’s tough.  Most work places prefer to pay through direct deposit.  Many landlords, mortgage companies and finance companies do business through direct debit.  You’re going to pay some steep fees if this is the route that you choose to go.  For some, it might be worth it, particularly if you only have a few transactions in a month.

Here are some places you can cash checks for a fee:

  • Check cashing depots
  • Some retailers like Walmart, 7-11, and some grocery stores (the number of these is dropping rapidly)
  • Pawn shops
  • The issuing bank will sometimes cash a check drawn from one of their accounts for a non-account holder
  • Some prepaid credit card accounts will accept a direct deposit (in my opinion, this is nearly as unsafe as having your money in a bank account)
  • Through a friend or family member’s account (also risky – for both you and the account holder)

Here are some ways you can pay bills without a bank account:

  • In person, with cash, cashier’s checks, or money orders
  • Through the mail, with cashier’s checks or money orders
  • Online, with prepaid credit cards
  • Through a kiosk using a prepaid credit card
  • At a check-cashing depot or retailer

Underbanking

Your next option is underbanking.  For some people this may be the most realistic way to break up with their bank – it’s the “just friends” version.  If you have a lot of transactions that go through your account every month, it isn’t necessarily practical to get rid of your account.  Keep in mind that all of the above methods of unbanking still have a component of financial tracking.  The checks and bills still have your personal information tied to them in most cases.

When you underbank, you still have an account.  Set this up with the lowest possible fee and the lowest possible required balance.  Shop around to find the best deal.  Consider a credit union or community bank instead of one of the big mega-banks.  They are slightly safer, emphasis on slightly.

Your paychecks from work can be directly deposited, which will make your employer happy.  Employers rarely want to do something outside the norm, and if everyone else gets their pay directly deposited, writing a check for you will make you stand out – the opposite of what you want to do.  As well, any other checks you receive, like refunds, tax returns, etc., can be processed through this account.

The goal here is to keep as little money as possible in this account.  Banks are no longer the safest place to keep your money, and the .00001% of interest you will accrue is just not worthwhile.

Immediately upon payday:

  • Pay all your bills online or through a kiosk out of this account – rent, utilities, credit card payments (hopefully you don’t have those)
  • Buy necessities like groceries if you need to reduce the amount in the account for withdrawal purposes
  • Calculate the amount of payments that will be coming out of your account between now and your next pay (rent/mortgage, car payment, insurance)
  • Remove all money except that required for impending debits and your minimum balance.  Get it in cash.

Avoid Financial Surveillance

The government wants everyone to have a bank account for another reason besides quick accessibility for the purpose of thievery.  Big Brother wants to know what you earn, what you spend, and where you spend it.  Every penny you spend could one day be used against you, as more and more things become illegal in the police state that is taking over the western world.

Use your bank account as little as possible if you’ve chosen to underbank:

  • Buy stuff with cash
  • Skip registering your belongings by serial number for warranty purposes
  • For heaven’s sakes, don’t get one of those “customer loyalty” cards that track every purchase you make and provide you with “rewards” or “points”
  • Buy from places that don’t track you, like yard sales, Craigslist, farmer’s markets, roadside stands, your brother’s friend’s sister’s boyfriend
  • Work for cash: this is another suggestion that won’t work for everybody, but if you can do some odd jobs for cash, even if you make slightly less money doing so, this is money that can’t be tracked.

Think about how your purchases tell a story about you that you might rather keep to yourself.  Are you buying lots of farm equipment, soil amendments and seeds?  Are you buying ammo every week?  Are you stocking away large quantities of food or medical supplies?  Have you recently purchased 2,347 books on different guerrilla warfare tactics?  OPSEC is more than just keeping your mouth shut about your prepperly ways.

Ditch the Dollar

Although you require some fiat currency to function in today’s society, as well as some in an emergency fund,  consider using other forms of currency whenever possible.  The following suggestions won’t work for everyone, but some folks may be able to ditch the dollar in the following ways:

  • Engage in the barter system: trade goods and services with like-minded people.
  • Keep precious metals like gold and silver in a fireproof safe for your “savings account”
  • Immediately convert  fiat currency into tangible goods: food, ammo, home defense items, tools, etc.
  • Work towards self-sufficiency – if you buy less, you can earn less: grow your food, repair your own home or vehicle, do things manually instead of using expensive equipment, lessen your dependency on the grid
  • Simplify – this goes hand in hand with self sufficiency: find your entertainment from library books and online resources, skip eating out, take a walk instead of joining a gym – the less you feel you need, the less money you will have to earn.

The decision to unbank or underbank is unique to every individual.  The further away you can get from “the system” the more privacy and security you will have.  The suggestions above are not meant to be comprehensive – they’re meant to get you thinking about how you can disengage.  As always, your suggestions in the comments can greatly benefit others!

Spain: Tax us all to Save the Euro

The government in Madrid officially calls for bailout, but refrains from calling it so.

By IAN TRAYNOR | UK GUARDIAN | JUNE 7, 2012

Spain is warning that Europe‘s single currency will unravel unless its leaders decide within weeks to centralise budget and tax policies in the eurozone and agree on a strategy to pool responsibility for failing banks.

As Spain’s prime minister, Mariano Rajoy, came under mounting international pressure to accept the eurozone’s fourth national bailout in two years, the government in Madrid angrily rejected the demands, insisting that it did not need rescuing. With fears of a euro meltdown having rapidly shifted from Greece to Spain, Rajoy is pleading for a direct eurozone rescue of his country’s banks, to avoid the humiliation attached to requesting a national bailout.

Sources familiar with the Spanish government’s thinking said its negotiating position was that the fundamental quandary facing the eurozone was not Spain, but a European failure of leadership in persuading the financial markets that the euro would be defended at all costs.

A Brussels summit at the end of the month would have to remedy that by agreeing to establish a eurozone banking and fiscal union – major federalising steps certain to be fought over. Without that commitment, Spain fears the single currency would be finished in months.

The Spanish government believes that the eurozone’s fourth-biggest economy is too big to rescue and that the consequences of abandoning Spain to the markets without a pledge of major European reform could be so ferocious that the single currency would not survive.

The current rules governing eurozone bailouts stipulate that a government has to request help and that the money may only be channelled via governments – increasing the national debt burden.

But Spain is stalling until key euro group meetings, the G20 summit and the Greek election later this month. Some analysts believe that if Spain is finally forced to request a full-scale EU/IMF bailout it is likely to come around 20 June.

Sources in Brussels confirmed that a rescue plan was being hatched for Spain – but it could be limited to desperately-needed banking aid, rather than a full national bailout.

Luis de Guindos, the Spanish finance minister, said  his government would wait until the results of an independent audit of Spanish banks was completed later this month before pondering its options.

The IMF is to deliver its verdict on the condition of the Spanish banks on Monday, followed a week later by the Spanish audit. “From that basis, the Spanish government will decide what measures must be taken to recapitalise banks,” said De Guindos. Madrid was joined by Washington and London in calling on the eurozone, principally Angela Merkel, the German chancellor, to deliver a persuasive new plan quickly for saving the euro. They fear the crisis might inflict immense damage on the US and UK economies.

A big move towards reform could immediately ease market pressure on Spain’s borrowing costs, though the European Central Bank might still have to supply some funding while details of the new union were thrashed out.

Sources familiar with the Spanish government’s thinking believe the country’s banking crisis could be fixed much more cheaply than the €50bn bill currently estimated by analysts. In Brussels the signs are that a deal is being considered that would be more palatable for Rajoy by explicitly linking the rescue money to the banking problem and not to his government’s stewardship of Spain’s finances.

As the ECB left eurozone interest rates unchanged at 1%, ignoring calls for a slight reduction, its head, Mario Draghi, dismissed the criticism from Washington and London – but he also urged eurozone leaders get their act together.

Berlin is pushing the fiscal union, but on its own terms. It wants to force common rules and targets but avoid any early commitment to sharing liability for the debt or bank savings of individual countries. David Cameron is to go to Berlin   on Thursdayto try to push Merkel into a more protective stance on the euro, which would entail German pledges to underwrite struggling countries’ debt. Following a telephone conversation with Barack Obama, the British prime minister will tell Merkel the US and the UK are insisting on “an immediate plan” on the euro, Downing Street said. The prime minister will tell Merkel the eurozone has no more than weeks to act to shore up the single currency.

Cameron’s spokeswoman said the pair “agreed on the need for an immediate plan to tackle the crisis and to restore market confidence”.  Cameron’s regular interventions from the sidelines of the euro crisis irritate Berlin and Brussels and Merkel is unlikely to be swayed, although Germany is showing some signs of greater flexibility.

The White House, fearing the impact of a European disaster on Barack Obama’s re-election campaign, is becoming more trenchant in its criticism of the eurozone and its demands of the Germans.

In Brussels, the signs are that the sides were inching towards a deal that would be made more palatable for Rajoy by explicitly linking the rescue money solely to the banking problem – and not to his government’s stewardship of Spain’s public finances.

German politicians dropped any pretence that they were not pressing Rajoy to ask for a bailout, but said the rescue could come without very tight strings attached. “I do think that Spain has to come under the rescue shield,” said Volker Kauder, the parliamentary leader of Merkel’s Christian Democrats in Berlin. “Not because of the country, but because of the banks.”

Tristan Cooper, sovereign credit analyst at Fidelity Worldwide Investment said: “The willingness to support Spain is there. The difficulty is designing a method that can satisfy Germany and the market.

Although sick banks are Spain’s most acute ailment, there are more chronic ones. These include the highest unemployment and the third widest fiscal deficit in Europe in a deep recession.

Markets would react positively to an adequate bank recap solution. A structural change in investor sentiment requires the prospect of a sustainable economic recovery and a credible plan for achieving it.”

The expectation is that any decisions will be delayed until after the Greek election on 17 June. Eurozone finance ministers are to meet on 21 June. The next day Rajoy is due in Rome for a summit with the leaders of Germany, France, and Italy  before the Brussels summit a week later.

If the result of this risky round of brinkmanship and bargaining is an agreed “road-map” towards the medium-term aim of a eurozone federation, the Spanish hope the heat will be off, pressure from the financial markets will subside, their borrowing costs will sink and recapitalising their banking sector will become more feasible.

The Year Bilderberg was Exposed Worldwide

Detractors of the secretive roundtable group saw one of their biggest wishes come true in St. Moritz, Switzerland

by Alex Newman
The New American
June 13, 2011

The amount of publicity garnered by the secretive Bilderberg conference this year in St. Moritz, Switzerland, far surpassed the coverage afforded to past gatherings of the elite cabal, with major media outlets and international news wires finally reporting on the yearly event after refusing to do so for over five decades. Protests, the alternative media, and anti-Bilderberg politicians played an important role in spreading the news.

Bilderberg, named after the Dutch hotel where members first met in 1954, brings together some of the most influential figures on Earth. More than 120 top-level officials in government, banking, media, finance, business, think-tanks, armed forces, and even European royalty attend the confab every year.

Among the confirmed 2011 European and Canadian attendees were the British Chancellor of the Exchequer (“in his official capacity,” according to the Treasury), the President of the European Central Bank, the head of Canada’s central bank, the queens of the Netherlands and Spain, the Crown Prince of Norway, a representative of the unimaginably vast Rothschild banking empire, finance ministers, heads of state, and many more.

A reporter on the scene for the U.K. Guardian said there were also individuals in attendance who were not on the official list — a regular occurrence discovered almost every year. Among them were German Chancellor Angela Merkel, NATO Secretary-General Anders Rasmussen, and Socialist Prime Minister José Luis Rodríguez Zapatero of Spain. Microsoft founder and multi-billionaire Bill Gates was reportedly spotted as well.

A handful of non-Westerners also attended, including Turkish business moguls and members of the political class in Turkey. A senior representative of the brutal Communist dictatorship ruling mainland China was there as well. So was a Russian oligarch.

More than two dozen prominent members of the American elite attended, too. An especially interesting cadre at the 2011 event included some of the masters of the internet world: The co-founder of Facebook; the executive chairman of Google; the co-founder and executive chairman of LinkedIn; the founder and CEO of Amazon.com; the commander of the American military’s “cyber command” (or USCYBERCOM); Microsoft’s Chief Research and Strategy Officer; and others.

Representatives of the non-digital American elite were out in force as well. Among them were former Ghaddafi adviser and Bush-era neo-con extraordinaire Richard Perle; billionaire David Rockefeller, who openly boasted in his autobiography of conspiring to erect a global political and economic system; Robert Rubin, former Treasury Secretary and current co-chairman of the immensely powerful, world-government-promoting Council on Foreign Relations; the vice-chairman of Citigroup; TV personality Charlie Rose; former Secretary of State Henry Kissinger, who frequently and publicly calls for what he refers to as a “New World Order”; the president of the World Bank; and others.

Top officials in the Obama administration were also there including — quite ironically — the Assistant Attorney General for Antitrust. Deputy Secretary of State James Steinberg and Director of the National Security Agency (NSA) Keith Alexander were also on the official list, as were former Federal Reserve and military chiefs. Not on the public list but spotted at the conference, according to unconfirmed reports from correspondents in St. Moritz, was Secretary of Defense Robert Gates.

By any objective standard, a meeting of over 120 of the world’s most powerful individuals would seem to be extraordinarily newsworthy. But until recently, the confab rarely attracted even a passing mention in the establishment press. The eerie silence fueled deep suspicion and innumerable theories about what the group may be plotting in secret. This year, however, was different,  at least in terms of media coverage.

In a story picked up by numerous large-circulation U.S. newspapers including the Washington Post, for example, the Associated Press wire service described the June 9-12 event as a “secretive gathering of senior government officials and business executives … that some liken to a shadow world government.” CNBC, Forbes, Fox News, the Baltimore Sun, Time magazine and others also ran stories about Bilderberg.

In China, the media were buzzing with news of the conference, too. One Chinese-language report by the French wire service AFP referred to the group as the “mysterious world shadow government” in a headline, according to Google Translate. Chinese media behemoth United Daily News ran a similar headline for another Bilderberg article.

European and Russian news outlets offered unprecedented levels of coverage as well, with the Guardian newspaper and the TV network Russia Today both sending correspondents to the scene. Several alternative-media outlets including the American Free Press and InfoWars sent reporters, too. And the Swiss press in particular has been overflowing with reports on Bilderberg for over a week.

Analysts speculated that the so-called “mainstream media” establishment — which is rapidly losing its market share as news consumers increasingly turn to alternative sources — was essentially forced to cover the conference in an attempt to salvage what remains of its credibility. But despite the increased attention, in one segment of the establishment press, news of the event was conspicuously missing.

Among the confirmed 2011 Bilderberg attendees were representatives of more than a few major media firms: the editor-in-chief and two correspondents of the Economist magazine; the chief international correspondent of Germany’s Die Zeit newspaper; the editor-in-chief of Helsingin Sanomat, Scandinavia’s largest daily subscription publication; a political columnist for the Dutch paper NRC Handelsblad; the CEO of Portuguese media giant Impresa; and more. None of those “news” outlets had covered the Bilderberg conference by press time on June 12.

There was, however, at least one notable exception. The CEO and publisher of Standard Medien AG, an Austrian media conglomerate, was also among those present at the Bilderberg summit. And one of his firm’s online portals, derstandard.at, reported the fact that Austria’s head of government, Federal Chancellor Werner Faymann, was in attendance.

A rival political party was apparently upset about the nation‘s Chancellor attending the meeting, even demanding an “intelligence” report about the conference from Faymann upon his return. So, not covering the growing scandal might have been raised serious questions about the integrity of Standard Medien among Austrian news consumers.

But even with the burgeoning Bilderberg coverage, critics still complained that the amount of media surrounding the conference was insufficient — especially considering the magnitude of the news. Other analysts noted that much of the “mainstream” coverage focused on downplaying the significance of the event or attempting to demonize critics.

But progress is certainly being made. While it would be impossible to calculate exactly how many people around the globe learned of Bilderberg’s existence over the past week, it’s safe to assume the number is in the millions — possibly tens or even hundreds of millions.

In recent years, authors, researchers, and the so-called “alternative media” have increasingly been spreading information and news about the cabal through the Internet. And not even including the new-found press coverage, the online exposure appears to have dramatically increased awareness about the confab.

Hundreds of protesters and critics from all across the political spectrum descended on St. Moritz to lambaste the elite attendees. They held up anti-Bilderberg signs and blasted their opposition through bull horns around the perimeter of the luxury Suvretta House hotel throughout the whole four-day gathering.

On the first day of the conference, along with a bogus “bomb” scare, a giant wall of curtains was erected around the edge of the Bilderberg compound. Presumably it was designed to keep protesters from looking in and conference attendees from being forced to see the growing crowd outside.

But at one point, angry protesters did get a chance to shout at some heavily guarded members of the elite in a face-to-face confrontation. During a “nature walk” outside the hotel, one activist even had a brief exchange with Thomas Enders, the CEO of Airbus. “We are just making our agendas,” Enders responded to a question about what was being discussed behind closed doors with politicians. “I don’t have to tell you, and you don’t need to know,” he arrogantly explained with a smile on his face.

Several lower-ranking members of the political class made a fuss about the event as well. Italian member of the European Parliament Mario Borghezio, for example, attempted to force his way into the conference on the first day. He was reportedly detained and roughed up by police, prompting the Italian embassy in Switzerland to demand answers.

Prominent Swiss politicians were furious about the gathering, too. Center-right Parliamentarian Dominique Baettig of the nation’s largest political party, for example, asked prosecutors to consider arresting attendees such as former U.S. Secretary of State Henry Kissinger for war crimes, suggesting that Swiss officials at the event should be charged with treason. Baettig, too, tried unsuccessfully to barge in on the conference in what the Guardian‘s Charlie Skelton called a “historic moment.”

Some Bilderberg opponents have also suggested arresting U.S. attendees, citing the Logan Act. That law prohibits Americans from negotiating policy with foreign officials.

Regular Bilderberg attendee and former International Monetary Fund (IMF) boss Dominique Strauss-Kahn, another socialist, was recently arrested in New York on unrelated sex charges. But calls to prosecute various Bilderbergers for a wide range of criminal offenses are only growing louder.

Critics of the confab are, of course, routinely derided as conspiracy “theorists” or worse by establishment apologists. The government-funded BBC recently ran a vicious smear piece against people suspicious of Bilderberg, trying to link opposition to secret meetings of global policy makers with anti-Semitism and other unsavory associations.

But leaks and public statements by attendees over the years — reported on by the BBC, ironically — reveal that the cabal was instrumental in more than a few world-changing occurrences. The continental super-state known as the European Union and the failing regional “euro” currency, for example, are just a few of the developments in recent decades attributed to Bilderberg.

Anecdotal evidence also suggests the group plays an important part in the seemingly unexplainable rise to power of national leaders. Bill Clinton, for example, attended the conference in 1991 as a virtually unknown state governor. The following year he became President. Then-presidential candidate Barack Obama was reportedly there in 2008. British Prime Minster David Cameron and former PM Tony Blair both went to Bilderberg before rising to the top as well. So did a multitude of global power brokers too long to list.

Due to the tight secrecy, speculation about what may have been on the 2011 agenda is, as always, running rampant. But a press release posted on the relatively new “official” Bilderberg website cited by the AP and others offered some generalities about the topics of discussion: the euro, challenges for the EU, social networking, “security issues,” the Middle East, “demographic challenges,” China, and more. In 2007, “The New World Order” was the top item on the agenda.

“What is unique about Bilderberg as a forum is the broad cross-section of leading citizens that are assembled for nearly three days of informal and off-the-record discussion,” the group’s public statement notes, claiming that the “privacy of the meetings … has no purpose other than to allow  participants to speak their minds openly and freely.” Critics of the shadowy cabal, however, still aren’t buying it.

China Warns on holding U.S. Assets

Reuters
June 7, 2011

The dollar fell to a one-month low against a basket of currencies on Tuesday and a record low against the Swiss franc after a Chinese official said the greenback would continue to weaken versus other major currencies.

The head of the international payment department at the Chinese forex regulator also warned about the risks of excessive holdings of U.S. dollars.

The dollar index [.DXY  73.59    -0.36  (-0.49%)   ]fell to a low of 73.601, the lowest since May 5, while the greenback fell to 0.8328 Swiss francs on trading platform EBS a record low.

“China has been growing its share of U.S. securities quite aggressively in the past, and the threat that they will be  selling these holdings has always been there,” said Adam Myers, senior forex strategist at Credit Agricole.

“But this is not a credible threat as a sell-off will lead  to a steepening of the U.S. yield curve which will hurt the U.S. and the Chinese, who are dependent on the U.S. economy. But I do agree that the dollar is headed lower in the long term.”

The euro rose to its highest in a month, climbing to $1.4666 on EBS, up nearly 0.6 percent on the day. Traders cited option barriers at $1.47 which could check gains in the near
term.

The common currency had got a boost in early European trade after a senior government official said the Greek government expects parliament to vote on its medium-term austerity plan by the end of June, a move which will fulfil a condition to receive new international funding.

The euro has gained more than 4 percent from its May 23 trough. The immediate target for the common currency is $1.4732, a 78.6 percent retracement of its May 4 to May 23 fall.

A break of that level should take it back to the May 4 high around $1.4939, though many traders think the currency will need a signal from European Central Bank chief Jean-Claude Trichet this week that the institution is ready to raise rates in July.

Earlier in the session, the euro slipped after Eurogroup chairman Jean-Claude Juncker said the common currency was overvalued.

“Euro is still clear of crisis levels, but flows are very choppy and investors are awaiting a solution from the IMF, EU, ECB, the private bond-holders and Greece,” said Lena Komileva,
head of G-10 currency strategy at Brown Brothers Harriman.

“It is more of a momentum lift for the euro than anything fundamental.”

With market views mixed on the euro, implied volatilities on euro/dollar options have eased as few market players see the need to hedge against sharp moves in the pair. One-month
euro/dollar volatility slipped to around 11.40 percent, near its lowest in a month.

Bernanke in Focus

While the euro hit one-month highs, worries about a faltering U.S. economy have boosted market expectations for the Federal Reserve to keep interest rates lower for longer, making
the dollar an attractive funding currency.

A fall in U.S. shares to 2-1/2 month troughs is fanning expectations that the Fed is eager to keep rates low for a protracted period, with some market players even talking about
the possibility of QE3 after the current asset buying programme, dubbed QE2, is completed at the end of this month.

Fed Chairman Ben Bernanke will be speaking on the U.S. economic outlook at 3:45 p.m. in Atlanta (1945 GMT) on Tuesday, his first appearance after Friday’s U.S. job data that cemented the view that the U.S. economy has hit a soft patch.

Against the yen, the dollar crept up to 80.22 yen, after a brief dip below 80.00 on Monday for the first time since May 5, helped by bids from Japanese importers.

Meanwhile, the Australian dollar fell 0.2 percent to $1.0687, moving further away from Friday’s four-week high of $1.0775 after the Reserve Bank of Australia kept rates on hold
and gave no hints of tightening in the immediate future.

Its statement surprised some market players by omitting a warning that policy would likely have to tighten in coming months to contain inflation, leading markets to trim the risk of
a move in July or August.

Use World Currency to Renounce the Debt!

Henry Makow

In upcoming years, cities, states & nations will have one overwhelming choice:

1. Renounce all debt created by bankers out of nothing, or due to compound interest. This is probably 50-80% of all government

The Sharks that control the financial and monetary system do it by means of Fractional Reserve Banking. Click on the image and see the chart in detail.

debt.

2. Or accept the unbearable burden and be willing accomplices in our enslavement and destruction.

The central banking cartel wants a one-world currency. We keep seeing reminders. For example, today we read, “The dollar is an unreliable international currency and should be replaced by a more stable system, the United Nations Department of Economic and Social Affairs said in a report released Tuesday.

What if that new currency was not based on central banking cartel (i.e. IMF) debt? What if most of the old debt was abolished?

THE BIG PICTURE

The human experiment is in danger of failure because our ancestors were too weak, feckless or corrupt to get money creation right.

Money has no inherent value. It is a medium of exchange like sea shells or beads. It is simply a convenient method for billions of people to exchange millions of disparate products and services.

Nobody can own a medium of exchange. It must be public.

But a network of private Illuminati families do own it. They produce the medium of exchange in the form of a debt to them. And they charge compound interest on this “debt” created out of thin air. We are being strangled by these debts.

They know this lucrative fraud is unsustainable unless they enslave mankind, mentally and spiritually, if not physically.

These Illuminati banking families have used their position to control all major corporations and governments. Do you know that it takes only 3-4% of shares to control most widely-held corporations? These corporations in turn buy the executives and politicians, pundits and professors that run the world for the bankers.

Everybody in a position of power and influence today is indirectly employed by these dynastic banking families. Their primary role, whether they understand it or not, is to protect the fraudulent credit system. They are traitors and collaborators, and as long as we support them, we are all complicit in our own destruction.

Our perception of reality is controlled by these bankers through ownership of the mass media. We see through “spectacles they arrange on our noses.”

ONE LIE IS THE BASIS OF THEM ALL

Mankind is living a lie because our currency is based on a fraud. Our history is really the story of how these bankers have set countries against each other in pointless wars in order to kill our best men and destroy and demoralize humanity. These wars are endemic because they create enormous profits and debts which are used to enslave us.

Illuminati bankers are financing the “insurgents” in Afghanistan, Pakistan and Iraq. When will we understand that they have been waging a war on humanity for centuries?

We are being gender neutered in the same way horses are gelded, to be obedient to their owners.

We are being morally degraded, dumbed down and distracted to paralyze us. Many believe we are being poisoned by chem trails, fluoride or by drugs and foods. Certainly our minds and spirits are poisoned by the mass media.

They have unleashed a pernicious satanic conspiracy on humanity in the form of Communism in its many manifestations. Barack Obama and Elena Kagan are Communists. The Illuminati bankers are responsible for assassinating JFK, for 9-11 and probably for the Gulf of Mexico disaster. They are responsible for most of mankind’s woes.

To get back on course, we need to nationalize credit and money creation. We need to nationalize banks.

Who should own the medium of exchange, a private cartel or democratic governments?

If the bankers want a new currency,  give it to them, as long as it is debt and interest-free and administered by a body that represents the best interests of humanity.

Then mankind can regain its path, and begin to fulfill its amazing promise.