The CURRENCY WARS....
of the Federal Reserve, it's history
& the Curious case of Mrs. Tubman.
of the Federal Reserve, it's history
& the Curious case of Mrs. Tubman.
|Mrs . Tubman kicked slave holderAndrew Jackson off |
the 20 $ bill , but
in the wider scheme, is there
more to the revamping of
the American dollar?
In 2015 President Obama reportedly had plans on changing the (1)>>U.S. dollar to the euro, Demonstrating another bold example of presidential authority, sources had reported Barack Obama has ordered the Federal Reserve to adopt the euro-exchange beginning last December 15, 2015. The changing face of our national currency recently may have reflected this bold executive order. Our modern American money in the relative sense is boring, its less colorful , but it's green back image has made it the subject of counterfeiters for decades. The value of the American dollar has been in decline . For a country with a budget deficit in excess of $1 trillion a year, the consequences of losing standing as the world's reserve currency would be dire. The market continues to rise because of money printing only. This indicates a dilution of the value of the dollar and euro. Even at the current record levels the market valuations are distorted and are inadequate to stimulate growth because of the dilution of capital. If the dollar supply has tripled since 2008, then the securities markets should reflect a tripling of valuations to reflect where they really are. We must be in a Bear market! Changing the dollar might be the best thing in increasing the world value of the dollar. Its really a global marketing scheme to change the appearance of the American green. We all know it intuitively, and the designers in the US know it explicitly. What's up with ours? It's dull, non-memorable (pop quiz for Americans: who is on the $5 dollar bill? The $10? The $20? What building is on the back?) and as inspiring as a parking ticket.And US dollars get an F on usability! The distinctions between one note and another are too subtle, and there's no way to use them if you're blind. It was ONLY till the last two decades that American paper money has added a "security" feature , mostly borrowed from the format in Europe and other nations. How is it a security feature? Making different bills different colors to me makes the most sense even if it may cost more because people can accidentally mix up different bills. In my country when the 50 dollar bill was introduced there were people accidentally mixing it up with the 10 dollar bill because it was the same color so the government decided to just change the color and design to avoid that from happening again. Again these updates for our money take too long , in 200 years the American dollar sort of evolved from an artistically designed , (2)>>all embracing multi-cultural , etc . To the bland
Federal Reserve notes. Secretary of the Treasury Jack Lew announced on Wednesday that the Bureau of Engraving and Printing would replace the portrait of Alexander Hamilton on the $10 bill in favor of one featuring both Hamilton and a woman to be named later. But the broader remaking of the nation’s paper currency, which President Obama welcomed on Wednesday, may well have captured a historical moment for a multicultural, multiethnic and multiracial nation moving contentiously through the early years of a new century.The selection of the three historic figures is noteworthy for a number of reasons, but the fact that they're all either African-American or women, or in Anderson's case, both, is a significant milestone for American currency, which traditionally has only featured white people and has very rarely included a woman. It was not immediately clear when the new $5
|Current Specimen of 100$ . Redesigned|
for security reasons . Hate to
see Benjamin go if he is
replaced for political Correctness.
|When was the last time American|
currency showed more diversity?
Old Money was better, an American Indian
Chief . (Sitting Bull I believe?)
THE FEDERAL RESERVE .
|The Eye of Providence (or the all-seeing eye of God)|
the Great Seal of the United States
Federal Reserve .
FEDERAL RESERVE SCAMS.
The system wasn’t elastic, meaning there was no way for its supply of money to adjust with demand. People would try to withdraw more money from one bank than it had available, the bank would fail, and then people from other banks would withdraw their funds, creating a vicious cycle that would lead to widespread bank failures and the contraction of lending across the economy. The result was economic depression. The Federal Reserve was audited for the first time in 2011 and the results were generally ignored by the press. But that audit found that the Federal reserve had grossly exceeded the amount authorized by Congress and the President to spend on the TARP program. The total bailout amount authorized was about 800 billion or so. So, how much did they hand out? Oh, only about 20 times that amount - a mind boggling $16,000,000,000,000 or $53,000 for every man, women and child in the US. What the Hell happened to the $800 billion limit, since over 800 billion went to Goldman Sachs alone? You might like to see where most of the money went. Here are some of the bigger recipients:
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
Wow! I especially like the money given to France, since they have been such a close friend and ally. But let's ask a few questions here. How or why did these all these institutions get themselves so overextended? Were they simply mega-gamblers using both client and borrowed money for speculation in the quest for mega profits? But none of the people who were responsible for the disappearance of so much money seem to have been held responsible for anything other than their mansions and mega incomes.Another interesting fact or two needs to come out here. In the entire existence of the US, the total National debt accumulated is about 12 trillion - yet the Fed chose create 16 trillion dollars out of thin air and give it away. That 16 trillion comes from somewhere - either becoming a part of the national debt or ultimately devaluing the dollar by a like amount. They sure as Hell did not have the money in the bank. Next, our total gross domestic product is only about 14 trillion, which is less than the amount handed out. So, we have a quasi-governmental agency acting way beyond their authority and giving more money than we even have. We have fund managers continuing to get their bonuses in spite of the fact that their companies are running on money given to them by us. Yeah us - you and me.But those in power may argue that we are looking at trees instead of seeing the forest and that the quick and decisive action of Bernanke, Paulson (the ex-pres of Goldman Sachs)and Geithner prevented a global run on the banks and economic meltdown which would have cost us far more than the horrendous amount they spent of zero interest loans and giveaways.Do you remember any outrage by the press when the report came out? I don't. The really big question is: Does the end justify the means? Are these folks crooks or saviors?
THE TRUTH ABOUT HARRIET TUBMAN.
NOTES AND COMMENTS:
(1)>>U.S. dollar to the euro. Ha ha !. They nearly had us FOOLED , but according to Snopes.com the story was reported as "false" , the , a web site that publishes outrageous fake news stories such as "IRS Plans to Target Leprechauns Next," "Boy Scouts Announce Boobs Merit Badge," and "New CDC Study Indicates Pets of Gay Couples Worse at Sports, Better at Fashion Than Pets of Straight Couples.". There MIGHT BE some ring of truth to the story . However . As of recently China is calling for a global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next week's London summit on the financial crisis.The surprise proposal by Beijing's central bank governor reflects unease about its vast holdings of U.S. government bonds and adds to Chinese pressure to overhaul a global financial system dominated by the dollar and Western governments. Both the United States and the European Union brushed off the idea. For decades, the dollar has been the world's most widely used currency. Many governments hold a large portion of their reserves in dollars. Crude oil and many commodities are priced in dollars. Business deals around the world are done in dollars.But the financial crisis has highlighted how America's economic problems — and by extension the dollar — can wreak havoc on nations around the world. China is in a bind. To keep the value of its currency steady — some say undervalued — the Chinese government has to recycle its huge trade surpluses, and the biggest, most liquid option for investing them is U.S. government debt.Now believes the U.S. dollar will catch up to the euro and the two currencies will be about equal by the end of next year.That's a dramatic turnaround considering €1 bought you $1.60 back in July 2008. The two currencies haven't been equal since late 2002. Currently €1 fetches $1.18 in the international markets -- a much better rate for any American traveling to Europe. The European banks that received the Fed's funds are directly linked/partnered with banks Stateside. No independent Euro bank received bailout money.Everyone knows the Euro, the currency that will never devalue, is in trouble. There is a very easy fix ... print more Euros. But doing that send down the value of the Euro, the currency that will never devalue. In steps the Fed. The Fed is bailing out European banks right under our noses. They are doing it through a new vehicle called currency swaps'. The European Central Bank (ECB) creates a new issuance of currency, but instead of distributing it to Euro banks as would normally happen, they transfer the whole issuance to the Fed Reserve Bank in NYC, where it is held on the balance sheets as a positive asset. And as long as the new currency issuance remains "undistributed", the Euro does not devalue. In exchange, the Fed creates a new issuance of dollars, and transfers then to the ECB. The ECB then distributes the new dollars to Euro banks where the new money shows up on the books as a positive asset adding needed liquidity to the troubled banksAlso keep in mind a currency does not immediately devalue with a new issuance and distribution. It takes a little while for everyone to click into the influx of new money and adjust values accordingly. (2)>>all embracing multi-cultural . Abolitionist Harriet Tubman's image will appear on a new series of $20 bills, becoming the first African-American to appear on U.S. paper currency and the first woman in more than a century, the Treasury Department announced Wednesday.In replacing replace President Andrew Jackson on the front of the $20 bill, the Treasury Department abandoned a previous plan to have a woman replace founding father
Alexander Hamilton on the $10.The $5, $10 and $20 bills will all be redesigned over the next four years, but will be put into production at various times over the next decade.The long-awaited currency redesign will have a cascading effect on bills of all denominations over the next decades, as new security features are introduced to make the bills harder to counterfeit. New bills will also have tactile features to make them easier for blind citizens to distinguish.The back of the $20, which now shows the White House, will be redesigned to include the White House and Jackson, whose statute stands across the street in Lafayette Park.(3)>>Federal Reserve System. To pry information out of the Federal Reserve that should have been made public long ago. We now know that the Fed's secret $7.7 trillion lending program wasn't just the most massive bank bailout ever seen, and it wasn't just free money for mega-bankers - though it was certainly both of those things. It was also the greatest hoax in stock market history.No, scratch that. It was the greatest hoax in the history of . And it was built on lies.