Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders. – The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s
Friday, May 4, 2012
Give me control of a nation's money and I care not who makes the laws- Mayer Amschel Rothschild
As a self-proclaimed Talmudic scholar and student of history, there is no question that Ben Shalom Bernanke is eminently aware of this famous quote from Mayer Rothschild. He is even more aware of the significance of it, as Chairman of the Federal Reserve.
For those who don't know, please understand that the Fed is NOT part of the Government, none of the officials are elected and it does NOT represent the interests of the citizens of the United States. The Federal Reserve is a private entity that is owned by several banks, the true identity of which has never been publicly disclosed:
Although there are plenty lists available on the internet that outline what is likely a fairly accurate presumption of the controlling banks. I leave it to you to find the list that you think is accurate, but there is not doubt in anyone's mind that the successor banks to the bankers who attended the famous meeting on Jekyl Island in 1910 - arranged by J.P. Morgan (the man) as a precursor to founding and establishing the Federal Reserve as the Central Bank for the United States - are most of thebanks that own the Fed (also there: representatives from the Rothschild and Warburg banking dynasties). It is likely that JP Morgan Chase is the controlling shareholder, as JP Morgan has acquired several of the predecessor entities which were original Fed shareholders, including Chase, which was owned by the Rockefeller family. Other influential shareholders would include Goldman Sachs, Bank of New York (which owns Mellon bank now), Lazard Inc (Lazard Freres/Lazard Brothers) and Rothschild & Compagnie.
At any rate, I bring all of this up because I was having a discussion with a long-time friend who opined that Romney had a shot to beat Obama in November (he's either not voting or writing in Ron Paul). I replied by saying "not a chance." Why? Because Bernanke will lose his job as the most powerful front-man in the United States (see the quote above) and he isn't going to relinquish that. Romney already said that Bernanke is gone if he's elected. All Bernanke has to do is shift his money printing and helicopter dropping into high-gear in June and we'll experience a big move higher in all the markets (especially the metals and miners) and a superficial, Government-hiring/stimulated (more road work) economic bounce by October. Election done - in June.
I bring all of this up because, not only was the headline employment report today a disaster, the details behind the headlines and in the footnotes were an unmitigated catastrophe. The headline number reported an increase of 115,000 supposed jobs in April, well below the 165,000 consensus expectation and even below the lowest big bank forecast (125k by Goldman, revised lower a couple days ago). The headline unemployment rate was 8.1%, a slight decline from the March print. What was not in the headline was the fact that 522,000 people were erased from the labor force by Government statisticians, which was the source of the decline in the unemployment rate. The labor force participation rate of 64.3%, a 30-year low. Think about that statistic for a moment: the Government capriciously decided that 522,000 thousand people had stopped looking for work, and no longer wanted work, in April. Someone in the Federal Government is hallucinating.
Furthermore, of the 115,000 alleged jobs added, 22,000 were from "seasonal" add-backs and 206,000 were imputed from the birth-death model, the nefarious "plug" number calculated by the Government pin-heads who take a wild "guesstimate" at the number of jobs created and lost by new business creation and closure. Anyone want to place any faith in that absurd estimate?
There's plenty of other statistical manipulations and Government misrepresentations in the April employment report. I'm sure several other blogs will pull the report apart and lay out the analysis. The way I look at it is if you add back the number of people dropped into jobless hell - the 522,000 worker dropouts - and assume the birth/death/seasonal manipulations created another 200,000 fantasy jobs, then April likely saw close to 600,000 jobs lost (115,000 - 522,000 - 200,000). To try and fine-tune or debate the actual change in employment beyond that is absurd because the real unemployment rate is so far removed from what is reported that to split-hairs over the monthly tally produced by the Government is impossible.
At some point we are going to see a massive QE/money printing/helicopter drop of paper/electronic fiat currency program from the Fed, as Bernanke will heed Mayer Rothschild's wisdom and exercise his control over the U.S. money supply...got gold?
Posted by Dave in Denver at 10:32 AM