Great Depression, as the stock market crashed, citizens lost their
life savings, and 1 in 5 american banks failed.
Former federal prosecutor Ferdinand Pecora was quite successful
in questioning bankers in front of the Senate Banking and Currency
Committee, resulting in the passing of the GLASS-STEAGALL ACT
legislation (sponsored by democrats Carter Glass & Henry Steagall),
impeding commercial banks from engaging in the investment side
of underwriting stocks & bonds, the securities business.
In 1956 a Bank Holding Company Act was also enacted, forbidding
bank holding companies who own 2 or more banks, from engaging
in non-banking activities, or buying banks across state lines.
Then... came the infamous 1980's, for all practical purposes a silent
Coup D'Etat in America, via "Financialization" of the Economy -i.e.,
let's translate it as bankers once again overriding national interest-.
In 1986 the Federal Reserve Board (thus composed of international
bankers) reinterpreted Section 20 of the GLASS-STEAGALL ACT,
ruling banks can have a revenue of up to 5% of their total, in being
investment bankers. In 1987 JP Morgan & Citicorp lobby for easing
bank regulations, resulting in the Federal Reserve Board allowing
banks to get involved in several underwriting businesses.
Same year 1987, a former director of JP Morgan and proponent of
bank deregulation named ALAN GREENSPAN (son of a hungarian
jewish family) is appointed by Ronald Reagan to become Chairman
of the Federal Reserve, a position he maintained up to 2006.
In other words, JP Morgan ruled the USA economy from 1987 'til
2006. By 1989 the coup-de-grace was completed, as the Federal
Reserve board through an application by JP Morgan/Citigroup/
Bankers Trust/Chase, reduced the Glass-Steagall Act even further,
allowing banks to underwrite securities up to 10% of their revenue.
In 1990 JP Morgan (obviously) becomes the 1st. bank permitted
to underwrite securities.
In the House & Senate, the Reagan-Bush administrations had been
busy between 1984-1987, trying to pass a blunt repeal of the Glass-
Steagall Act; the House finally rejected this. During the George Bush
Sr. administration this was attempted again in 1991, the House once
again defeating the bill.
It is with disgust than one gets to hear that the current economic
crisis was brought on by "Clinton", this is just another cold lie in the
face of facts, by republicans. Clinton at best, might have indeed
contributed to it. But the rabbit hole goes deeper, as we shall see.
CLINTON 'S IMPEACHMENT WAS BLACKMAIL
The Pittsburgh Tribune Review -owned by notorious right winger
Richard Mellon Scaife-, publicized the theory that Vincent Foster
was murdered, and that this murder was ordered by the Clintons.
Foster was found dead of a gunshot in the mouth in his car; eerily
enough, en "extant" secretary from the previous Bush Sr. term
-one LINDA TRIPP-, worked as Foster's secretary, and actually
served him what's been infamously nicknamed his "Last Supper"
(in the form of hamburger & fries and a coke), which he ate in his
office before committing suicide -or so-.
I find it extraordinary, that this little-known fact would not have
made it into the news, as later on LINDA TRIPP would become
the handler of Monica Lewinsky during the Impeachment saga
-Tripp by then once again back to the Pentagon, where she came
Enter KENNETH STARR, born in Vernon-Texas, the proud son of
a Church of Christ minister. Starr was appointed a Judge in DC by
Ronald Reagan -serving from 1983 'til 1989-, and then appointed
Solicitor General by George Bush Sr. -serving from 1989 'til 1993-.
The Office of the Independent Counsel was created during the
Nixon years, to curb power excesses like the Watergate scandal.
It was disbanded in 1988, but reinstated through a 1994 Act, so
Kenneth Starr -who had considered running for Senator of VA-
was appointed Special Counsel to investigate the Clintons' past
Whitewater dealings in Arkansas, along with the death of Vincent
Foster. Starr delivered a final report on Foster in 1997, concluding
a no-murder, completely reaffirming the original suicide version
as rendered by the police.
Veritable sources claim that Vince Foster had been indeed in charge
of the White House handling of the notoriously tragic WACO affair;
as it turned out, there was way more than meets the eye in this
convoluted story, as it's rumoured David Koresh was a mind control
operation gone out of control, therefore it is well known that at the
Waco siege, there were at least 2 teams -one with a secret agenda-,
both teams many times at odds with each other. It is not clear who
was running the "secret team" within the official team. Vince Foster
was caught in this secret "erasure" operation -caught between the
crossfire, as SRV sang-, and while the White House wanted an end
to this Jonestown style impending doom, the "secret team" had even
more strict and "quick termination" orders. Thus what transpired,
transpired as it did. And it is irrefutable that Foster was extremely
depressed because of the end-result of Waco, this lending itself to
the suicide scenario. On the other hand, the knowledge of the secret
ops, could have compromised his safety, this lending itself to the
murder scenario (albeit not as easily "ordered by the Clintons", as
republicans often too easily accuse).
After all, who will be as utterly dumb as to murder by gunshot his
very own White House Counsel...? Obvious considerations as these,
seem to evade the republicans' narrow & slanted mindset. We must
not lose sight of the fact Foster came from "way back in the day"
in the life of the Clintons, an intimate friend, a close confidante.
Kenneth Starr was spending millions of dollars trying at any cost to
nail the Clintons, focusing on the Whitewater business scandals, yet
not unraveling any credible legal evidence; ultimately he spent a sum
close to $36 million, that only produced 2 SEXUAL scandals related
to pres. Bill Clinton -the Paula Jones & the Monica Lewinsky cases-.
Sexual scandals are outside the realm of Impeachment, defined as
the incapacity to serve the Office of the President duties, either by
extreme unreliability or extreme corruption, neither applicable to
petty sexual escapades. Republicans knew this quite well, and the
Impeachment was nothing but a show -doomed from the getgo-
and every House & Senate member knew this quite well, so then
the question begs: WHY DID THEY PURSUE THE IMPEACHMENT?
The simplest of answers is, that the bankers wanted a full repeal
of the Glass-Steagall Act. The Impeachment provided them with
a tool to blackmail Bill Clinton into total submission.
As a matter of fact, both the final deregulation of banking, as well
as the escalation of the current wars -initiated by the Kosovo war-,
followed right after/or during the failed Impeachment, if you care
This was a steady process already in motion 2 years after Kenneth
Starr's Independent Counsel investigation on the Clintons began in
early 1994; by 1996 Alan Greenspan as Chairman of the Fed upped
the ante, allowing now banking holding companies to engage in the
dirty business of underwriting securities up to 25% of their business
(from a former upped 10% limit, from a 5% initially).
With the Clinton Impeachment agenda now in full swing in the years
1997 & 1998 (the formal Impeachment brought on in Dec. 1998), we
can see how this translates directly into a banking deregulation, as
the 1996 expansion did not totally eliminate the Glass-Steagall Act;
there still remained the "Owning of Insurance Securities" aspect
that had to be dealt with by the bankers, the banking industry still
not fully able to own Insurance-Underwriting companies. For those
not 'in the know', this is basically the business of LONDON.
If anybody suspects the Clinton Impeachment and the concomitant
merging of the commercial banking industry with the insurance-
underwriting securities business as a BRITISH TAKEOVER, he is
absolutely right in suspecting so.
By August 1997, the Fed Board authorizes banks to outright acquire
securities firms; in 1997 Bankers Trust was the 1st. to purchase Alex
Brown & Co. -an investment bank-, and from then on, the process
of "Banks & Securities" mergers, continued to this day, outrageously
so one might add. And all this has been the underlying cause of the
current economic meltdown.
The rationale given to the public and the media, was that this was
a "necessary change" to deal with foreign competition, but what
this was really all about, was the very opposite, that by repealing
the Glass-Steagall Act, US american banks became virtually open
to international manipulation & ownership, the insurance aspect
of securities rendered to the British, for them to do as they will.
It was by and large a re-colonization of America, via finance.
Therefore the timeline is clear, as Clinton was formally impeached
in Dec. 1998, while in Oct. 1999 Congress finally passes the full
repeal of the Glass-Steagall Act, labeled the "Financial Services
Modernization Act", which laid the nails to the coffin, so to speak.
From then on, the economy in Macro-Economic banking terms,
became sheer speculation and politically manipulated, by the whim
of the powers that be, as George W. Bush used this new paradigm
to simulate conditions of prosperity, amidst the most perilous
moment in the economy, by forcing risky mortgage loans, and
unleashing the securities debacle to astronomical proportions.
This was all fanatical madness beyond redemption or excuse.
You can perfectly well read this brief history of the current crisis,
as the takeover and controlled demolition of the USA economy, by
the international bankers. To simplify this saga in the republican
cliche of "this was started by Clinton in the late 90's", is a severe
misunderstanding of the agenda, and it's obscuring the real facts.
It is the equivalent of teaching sex to boys & girls, using the age
old Bees & Flowers talk. That grown up professional people could
still refer to the current meltdown as simply something "Clinton
started", is a testament to the childish immaturity of republicans,
as well as their state of denial regarding their own responsibility,
which comprises the larger portion of the meltdown.
This was irrefutably started by Reagan/Thatcher, pursued by Bush
Sr. in Congress unsuccesfully, and ultimately imposed on Clinton
by Impeachment blackmail. And the "designated driver" to drive
the hearse to the funeral and into the grave, was W. Bush Jr.
What we are looking at, is an attempt to takeover the world via
"Weapons of Financial Destruction", using the US financial melt-
down in a DOMINO EFFECT unto the rest of the smaller nations,
who had by now succesfully managed to pay back their external
debts in full or to a large extent.
The IMF (International Monetary Fund, the tool of the bankers)
had largely become just a Consulting firm, no longer being the ruler
imposing agendas on nations by lending them desperately needed
money under strict conditions of following certain policies. Nations
had fought long and hard to rid themselves of this yoke, and while
now they had began to coalesce together away from all this colonial
rule disguised as "Lending", the current economic meltdown forces
them all over again to go back to the IMF and ask for the dreaded
loans, in order to salvage and bailout their falling institutions.
Thus rulers-via-finance once again can meddle internally and try to
impose policies & conditions and so forth, business as usual all over
again -as an attempt, I mean-. It is the ultimate expression of the
old "Order by Chaos", force everybody back into submission and
under a one-global-policy, through monetary demolition. However
this is a highly risky game, and it plays upon a territory where things
never go as planned. The goal of establishing a 1-Global Currency
may be easier said than done, and the tides may be tougher to steer
than moronically assumed.
What it all ultimately boils down to, is that the people on top may be
a lot more retarded than we all thought they were. And it all simply
gives way to destruction and disintegration, in a bad synergy. Plans
are not smart, means are even less so, and the the dice is not only
loaded but radioactive, sickening all those who hold and play with it.