The Currency Wars........

The CURRENCY WARS....
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

Current Specimen of 100$ . Redesigned
for security reasons . Hate to
see Benjamin go if he is
replaced for political Correctness. 

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 

When was the last time American
currency showed more diversity?
Old Money was better, an American Indian
Chief . (Sitting Bull I believe?) 

bill will go into circulation.Several million people have responded since Mr. Lew issued an unprecedented invitation to the public last June to help redesign the nation’s cash. His question: Which woman from American history should be chosen as the first on paper currency since Martha Washington briefly graced the $1 silver certificate in the late 19th century? The outpouring of responses about the forthcoming redesign of the $10 bill has surprised administration officials both by its numbers and by the volume of unanticipated complaints, forcing Mr. Lew to miss his self-imposed December deadline for an announcement and leaving unclear when he will decide. There is perhaps a real reason to all this , the global market . The dollar has lagged , by understanding that in 2015 The International Monetary Fund is expected to a new reserve currency alternative to the US Dollar.The dollar’s role as the world’s primary reserve currency helps all of us Americans by keeping interest rates low. Foreign countries buy United States Treasury debt not just as an investment, but because dollar-denominated assets are the best way to hold foreign exchange reserves.And on Oct 20th of this year, the IMF is expected to announce a reserve currency alternative to the U.S. dollar, which will send hundreds of billions of dollars moving around the world, literally overnight.
THE FEDERAL RESERVE  .

The Eye of Providence (or the all-seeing eye of God)
the Great Seal of the United States
Federal Reserve .

Perhaps one of the instigators to the concept of the "new-money " is One of the most fraudulent institutions ever perpetrated on the American people and the world, is the (3)>>Federal Reserve System. The U.S. financial system needed remaking. The United States had a long but less than illustrious history with central banking. Alexander Hamilton, the first Treasury secretary, believed a national bank would stabilize the new government’s shaky credit and support a stronger economy — and was an absolute necessity to exercise the new republic’s constitutional powers.But Hamilton’s proposal faced opposition, particularly in the agricultural South, where lawmakers believed a central bank would primarily benefit the mercantile North, with its large commercial centers of Boston, New York and Philadelphia. “What was it drove our forefathers to this country?” said James “Left Eye” Jackson, a fiery little congressman from Georgia. “Was it not the ecclesiastical corporations and perpetual monopolies of England and Scotland? Shall we suffer the same evils to exist in this country?” Some founding fathers, including Thomas Jefferson and James Madison, believed that the bank was unconstitutional. Running an economy without a central bank empowered to issue paper money caused more than a few problems in late 19th-century America. For example, the supply of dollars was tied to private banks’ holdings of government bonds. That would have been fine if the need for dollars was fixed over time. But one overarching lesson of financial history is that that’s not the case. In times of financial panic, for example, everybody wants cash at the same time (that’s what happened in fall 2008).Without a central, government-backed bank able to create money on demand, the American banking system wasn’t able to provide it. 
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. 

The latest act of US Imperialism stroking its psychopathic ego is adding Harriet Tubman to the $20 bill. Does Harriet Tubman deserve notoriety for her incredible acts of heroism against the American system of slavery and oppression? Of Course! But, is putting Harriet Tubman’s picture on a Federal Reserve note which symbolizes that very system, respect? Hell No!Harriet Tubman deserves all the praise society can give to her, and we are certainly not claiming that she isn’t worthy of the predilection to land her on the $20 bill. However, this woman was an enemy of the state, and it was for this reason that she was great. Tubman didn’t go around carrying an American flag chanting ‘USA! USA!’ as she freed the slaves. She risked life and limb, working with other activists and forming the underground railroad to free people from their 100% entirely legal bondage.By putting a picture of this prodigious woman on a piece of paper, the US government acts as if they were the ones who created her and fomented her courageous acts — when, in fact, it was the US government that Harriet Tubman was fighting against.When Harriet Tubman died in in March of 1913, the US $20 bill bore George Washington’s portrait and the inscription “THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE UNITED STATES OF AMERICA TWENTY DOLLARS IN GOLD COIN PAYABLE TO THE BEARER ON DEMAND.”Later that year, Congress passed, and US president Woodrow Wilson signed into law, the Federal Reserve Act. The following year the Federal Reserve issued a new $20 bill, adorned with the portrait of Grover Cleveland. In 1928, the first $20 bill bearing the visage of Andrew Jackson appeared. Even though the Federal Reserve had taken over the creation of “money” (loosely defined) from the US Treasury, the note still promised that it could be redeemed for gold at the US Treasury, or gold or “lawful money” at any Federal Reserve Bank.Nearly 90 years later, as the Treasury announces that Tubman’s likeness will grace the next $20 bill, Federal Reserve Notes are just paper, no longer redeemable in gold but sustained only by the faith of buyers and sellers in a government nearly $20 trillion of its own debased dollars in actual debt and even deeper in the hole when unfunded promises of future spending are taken into account.Due to a cumulative inflation rate of more than 2,300% since 1913, a $20 bill today will buy goods valued at 83 cents in 1913 currency.

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 National Report, 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 Goldman Sachs (GS) 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 money. And it was built on lies.