Devvy Kidd -- The Continued Sacking of The People's Purse, Part 2

THE CONTINUED SACKING OF THE PEOPLE'S PURSE
PART 2 of 2

By: Devvy Kidd

April 17, 2006

NewsWithViews.com

The federal swindle

"The suppression of unnecessary offices, of useless establishments and expenses enabled us to discontinue internal taxes. These covering our land with officers and opening our doors to their intrusions, had already begun that process of domiciliary vexation which, once entered, is scarcely to be restrained from reaching successively every article of produce and property." --Thomas Jefferson: 2nd Inaugural, 1805. ME 3:376

April 15th isn't tax day. This year you will have slave until April 26th to enrich the international banking cartel, fund their endless wars, dump millions into the laps of tin pot dictators around the world and continue paying usury on the Congressionally created "national debt." For those who believe their income tax dollars are funding the TRILLION dollars worth of "entitlement" and welfare unconstitutionally being doled out by the hookers in Congress who allow their favors to be purchased by the highest bidder, you need to take the time to learn exactly how the income tax and the privately owned "Federal" Reserve Banking System actually work. Only by taking your precious time to do this research will you come to understand how the people's treasury has been sacked by robber banker barons since 1913 and how you are being literally raped of the fruits of your labor to fund your own destruction.

I can't stress enough: big trouble is coming. Bush, his cohorts, Congress and the dominant, controlled media are lying to you about this economy, i.e.:

"Oracle, for example, which has been handing out thousands of pink slips, has recently announced two thousand more jobs being moved to India. How is Oracle's move of US jobs to India creating jobs in the US for waitresses and bartenders, hospital orderlies, state and local government and credit agencies, the only areas of job growth?

"If offshore jobs outsourcing is good for US employment, why won't the US Department of Commerce release the 200-page, $335,000 study of the impact of the offshoring of US high-tech jobs? Republican political appointees reduced the 200-page report to 12 pages of public relations hype and refuse to allow the Technology Administration experts who wrote the report to testify before Congress. Democrats on the House Science Committee are unable to pry the study out of the hands of Commerce Secretary Carlos Gutierrez. Obviously, the facts don't fit the Bush regime's globalization hype.

"The only thing America has left is finance, and now that is moving abroad. On February 22 CNNMoney.com reported that America's large financial institutions are moving "large portions of their investment banking operations abroad." No longer limited to back-office work, offshoring is now killing American jobs in research and analytic operations, foreign exchange trades and highly complicated credit derivatives contracts. Deal-making responsibility itself may eventually move abroad. Deloitte Touche says that the financial services industry will move 20 percent of its total costs base offshore by the end of 2010. As the costs are lower in India, that will represent more than 20 percent of the business. A job on Wall St is a declining option for bright young persons with high stress tolerance." (Column here)

STOP buying products or services from companies selling US out to foreign workers. I refuse to speak with any service rep in a foreign country. Sure, it takes me a few extra minutes to get a live person at a corporate office, but I will spend those few minutes to protect YOUR job because I believe in my fellow country men and women and America. STOP buying stock in corporations that outsource and are closing plants or facilities in the U.S, shipping OUR jobs overseas. We have tremendous power via our wallets and if we want to save what's left of our economy, we must all learn to pick and choose which companies will get our money. The message will get to the corporate heads when their foreign junk sits on the shelves and rots. If you own stock in any corporation that has been selling us out to foreign labor or hiring illegals, you are participating in the destruction of our republic.

In a March 20, 2006, column, Christopher Laird provides an important essay on just how precarious the situation is:

"There is an unprecedented derivatives atom bomb waiting to collapse. The derivatives outstanding according to the Bank of International Settlements (BIS) has grown from roughly $20 trillion of value in the early 1990's to about $300 trillion now. The Fed and US banking authorities have had two meetings in the last year to address the fact that there is a very large percentage of these derivatives agreements that are not closing their paperwork within even a month of their creation! The Fed and other regulatory agencies are very concerned that the Banking industry cannot handle the volume.

"Warren Buffett has stated that derivatives are weapons of financial mass destruction, due to their incredible leverage. Every year now, we hear of old time banks and new ones going broke in a day or two when a derivatives trade goes south for them. The recent victims are the Chinese petroleum procuring company that lost about $700 million in some air fuel hedges gone wrong. The trader responsible has been arrested, as I recall, and probably going to rot in a Chinese work prison."

Bob Chapman puts out the International Forecaster newsletter. After reading it for many years, it is amazing how on point he is in predicting future market moves and how it affects your world. In a recent edition, Bob warns the American people:

"Today, like in the late 1920s, there is no sound money and credit. We live in a fiat financial structure underpinned with fiat currencies. This unsound monetary backdrop, like before, has created asset inflation, resource misallocations, speculation that will eventually bring about destabilization, unbridled non-productive debt expansion, wealth redistribution expedited by offshoring and outsourcing, a form of international socialization and an economic system now riddled with holes. This condition was not only created by the Fed and other central banks, governmental fiscal profligacy, but also a new factor the advent of electronic money, so to speak outside our historic system. Unchecked non-productive credit expansion is at the heart of contemporary monetary inflation. Inflation that is officially understated by more than 50% in a system devised to deceive not only the public but professionals as well....

"The typical American family has $3,800 in the bank. No one has a retirement account, and the neighbors who do, have $35,000 in theirs. They have no mutual funds, stocks or bonds. The house is worth $160,000, but the family owes $95,000 on it to the bank. The breadwinners make more than $43,000 a year, but cannot manage to pay off a $2,200 credit card balance. That is the portrait of the median American household as pointed out by the Fed's Survey of Consumer Finances...

"Yes, what we are seeing in derivative trading is incredible. It's like all the failures we had in the late 70s. That was in millions. This is in trillions. The total stock of unconfirmed trades is large and until recently was growing considerably faster than the total value of transactions. Most trades are being assigned without the knowledge of consent of the original counter-parties. All these fail to deliver problems have to adversely affect brokerage house earnings.

"Foreigners own 27% of our mining industry; 24% of our information industry; 20% of our manufacturing or what's left of it; 20% of professional, scientific and technical services; 11% of our finance and insurance industries and 45% of US government debt is foreign owned. The reason for concern is that American owned industry usually reinvests in America, whereas foreigners more often than not take their money home. Foreigners could end up owning more than 50% of our country.... <>

"This is not good news...As we reported three weeks ago, Washington Mutual, one of our largest mortgage lenders, shut 38% of their loan processing centers and laid off 2,500 workers. We are in the age of Wall Street finance - the engine of global leveraged speculation...Understanding the problem is simple and the solution is, there is no way out. Wall Street understands what they are facing and they'll play their hand until the bitter end hoping they survive. We are witnessing one of the greatest destabilizing speculative periods of all time. We are going to reap the consequences of unsound money and credit. Your only investment alternative is gold and silver related assets. This is the only mechanism for protecting your wealth."

Stupid Americans. You've sold off chunks of America for the almighty dollars. That's just a teeny, tiny glimpse into the future. Another huge danger that so few Americans know about (including me until a gentleman sent me mail asking me to please research the issue) is something called "naked short selling": "It is blatantly stealing from the companies that are being invested in, all the way down to the small time investor, and allowing huge hedge funds, and off shore banks to totally decimate the fabric of investing, and walk away scot-free with their ill gotten gains from plenty!" To learn more about this, please click here.

When this economy goes, you won't see poltroons like pro-communist advocate Diane Feinstein, Marxist Hillary Clinton, Bill Frist, Denny Hastert or any other member of Congress going to jail, but you will see everything you have ever worked for gone when this house of cards collapses under a monstrous mountain of debt. The "plunge protection team" that fronts for the banking cartel is doing their best to prop the situation up for public consumption, but those in the industry like Harvey Gordin of El Dorado Gold, someone who was on Wall Street for 23 years, knows better. There is a reason gold is going up and why it is still the best hedge against what's coming: Impending Debt Disaster.

The key is to understand the relationship between the income tax and the "Fed." It is critical people realize that not a penny of their "income tax" dollars fund a single function of this tyrannical government - it's all borrowed paper. While this document is long (click here), I urge you to take the time to read it and understand that as long the privately owned "Federal" Reserve remains, you and your children and their children - if our republic lasts that long - will be nothing more than beasts of burden for the rich elites of the world. I also urge you to read another document which, by necessity is also long, but critical in understanding exactly how the U.S. Congress continues to fleece the people's purse:

"On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, Conspiracy, Fraud, Unlawful Conversion and Treason. The petition for Articles of Impeachment was thereafter referred to the Judiciary Committee and has yet to be acted on." This amazing document can be read here. For part 1 click below.

Click here for part -----> 1

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Devvy Kidd authored the booklets, Why A Bankrupt America and Blind Loyalty, which sold close to 2,000,000 copies. Devvy appears on radio shows all over the country, ran for Congress and is a highly sought after public speaker. Your complimentary copy of the 32-page report may be obtained from El Dorado Gold. Devvy is a contributing writer for www.NewsWithViews.com.

Devvy's website: www.devvy.com

E-mail is: devvyk@earthlink.net

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