Posts Tagged ‘Financial Collapse’

Lindsey Williams on The Alex Jones Channel / February 10, 2009

February 10, 2009

Lindsey Williams on The Alex Jones Show

Audio Here

Greg’s Newsletter, Keeping the American Middle Class Informed / February 04, 2009

February 4, 2009

While I was putting together a newsletter, I ran across this article and had to send it out to everyone immediately to give you an idea how creative the American people are in these times of economic turmoil.

We all know the Federal Reserve controls our monetary system and also know they are a private bank, not part of the Federal Government. Well some folks have decided to take the momentary system into their own hands and the ingenuity of our people once again show us, when things are bad a new direction is the way to get where we need to go.

http://www.rcreader.com/index.php?option=com_content&task=view&id=13473&Itemid=42

I just love our people’s creativity and intuitiveness.

Greg Goodwin

2/4/09

Nearing the end of Our Constitutional Republic / Mo Kiah / January 30, 2009

January 30, 2009

Some misconceptions need to be cleared up. First…The United States government is a Constitutional Republic; the founders knew of the detrimental results created by Democracies and Monarchies.

Benjamin Franklin quote… “Democracy is two wolves and a lamb voting on what to have for lunch. A Republic is a well armed lamb contesting the vote.”

In other words, the rule of law accompanied by strong compliance with the Constitution most effectively represents “The People” and puts checks and balances on our three levels of federal government to prevent tyranny from showing its power-hungry teeth and treating the self-governed as red-headed-terrorist-stepchildren.

Secondly… Congress receives 99% of bills or acts from their special interests. Congress doesn’t write bills any more (with the exception of Ron Paul and possibly a few others). They are dictated to by greedy, power-hungry fascist corporate lobbyists; Congress takes the draft, fiddles with it, adds pork to it, then they vote on it. End result? We get screwed again.

If anybody believes that a bailout “For The People” is what’s needed to set this country back on its correct path, well, it ain’t gonna happen. Stealing our compensation for services rendered to our employers…then turning around to redistribute the compensation to other people or entities is theft! I don’t like it when our employees steal from “We The People” to bailout some sorry-ass, incompetent entity. It degrades our country, our way of life, threatens freedom and liberty of the people. It also leads to an ever decreasing value of our dollar’s purchasing power at the expense of us, our children and grandchildren.

This bailout scenario is being pursued to usher in a global monetary system that will automatically justify the necessity for a global government. This incremental process has been in the works for over one hundred years. And unfortunately, it looks like everything is right on schedule. Do a little research on “Global Government”, “Central Banks” or “Global Monetary System” and see what results you retrieve.

These bailouts and the accompanying smoke and mirrors (by the way, the mirrors are fading to clear glass) being used to justify the repair of a doomed monetary system are no more than the continuation of an effort to crush the American self-governing process. I don’t take it lightly and “I will not go quietly.”

Democracy = Mob Rule, Constitutional Republic = Rule of law. The main problem is getting the lobbyists out of Washington. There’s 41,000 of them, so we have our work cut out for us.

Greg’s Newsletter, Keeping the American Middle Class Informed / January 27, 2009

January 27, 2009

I have decided to publish an article that is not directly economic related because of its importance-and that is studies have found high levels of mercury in our food chain. This article, from the Washington Post, gives you the source of the mercury, Corn Syrup, which is in so much of what we eat and drink, very unsettling report.

With the many different recalls and problems with many sections of our food chain and medical ingredients in recent years, you have to wonder if profit is more important that our safety or is it with all of this “World Economy” we are being subjugated to inferior foods with little to no inspection by the FDA. Is it due to budget constraints or did they put the cart before the horse? That is getting the profits before the safety constraints were in place to inspect the imported food and medicines.

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/26/AR2009012601831.html

Which brings me to point I have been pondering for a while, a question was asked, is capitalism a good or bad thing? In its current form, it is a very bad thing. Now before you all start calling me a socialist or communist let me explain. Our economy used to be called a “free market enterprise” and you don’t hear that term much anymore and that is do to the fact that most large corporations controls large parts of the markets they are in. The relaxation of the Anti Trust Laws regarding monopolies has been eased over the years. This gives these corporations major controls over the market places they are in, thus reducing the competition within those market places. Competition is what made this country great through the innovation in all aspects of the companies operations and products in their given market places but with the elimination of those competing companies, through acquisitions and buyouts and closures, the bottom line is the only thing directing these corporations. Profit is why we are in business but profit with little regard to anything else but profit is a very bad thing.

All of our large corporations are now international corporations and we in the USA are nothing much more that just another customer. We are loosing our national identity and sovereignty due to this mentality. As we see as in the article above, we are loosing our national security too. Not by terrorists or rouge governments but by the very corporations that are based here in the USA who believe in the bottom line mentality. You may think this is a bit strong language to use but look at what these giant corporations in financial industry have done. They abused the system they influenced, to reduce the regulations on that industry and look where it has got us, the nation is broke and so are we becoming that more and more everyday. Example: Monday another 68,000 people lost their jobs in this country and the January 2009 total to this point is over 205,000 people loosing their jobs. Add that to the 2.4 million who lost their jobs in 2008, things are not going well for the current direction of “capitalism” in the United States of America.

This is not a Republican or Democrat thing but an uncontrolled lobbying power that influences our economic system from behind closed doors. This is not a conspiracy but how Washington does business. That is why you have over 41,000 lobbyists for 535 political positions in our Federal Government. This last election was the country wanting “change” in the way Washington does business. I am not relating whether President Obama is good or bad but looking at who will be his economic advisors, I don’t see a big change coming and until the financial system is straightened out, very little else can be accomplished. This article will give you a run down on who they are:

http://money.cnn.com/galleries/2008/fortune/0806/gallery.obamas_advisors.fortune/index.html

Besides these people, Bernanke is still the head of the Federal Reserve and Timothy Geithner will be the Secretary of the Treasury. We know what Bernanke has done thus far, loading up the banks and lending institutions with created money and these institutions just sat on it to protect their bottom lines stock holders and did not release it to get the economy moving again. Then Geithner, current President of the New York Federal Reserve and controlling bank of the entire Federal Reserve, has been involved with Secretary of the Treasury Paulson’s dispersion of the funds, every step of the way of the first $850 billion bailout ($700 billion for bailout and $150 billion for Washington Pork). Between both entities there has been a total of about $8 trillion of direct capital injection and Federal Reserve guarantees to correct this disaster and nothing seems to get our economy going again, instead it is slipping further into deep recession. To top this off, Bloomberg Information Services is suing the Federal Reserve and Paulson’s Treasury to get information on $2 trillion they dispersed and won’t tell where it went. So I ask, where is the change coming from?

Greg Goodwin

1/27/09

Greg’s Newsletter, Keeping the American Middle Class Informed / January 20, 2009

January 20, 2009

I have been trying to keep an eye on what is going to be proposed when the new administration takes over the government and this article will give you some idea of what we are going to be seeing. This is another reason why states rights are so important, Washington cares very little about what individual states want or need, they just broad brush their agendas on the entire country, it is just more centralization of our national government.

http://www.govtrack.us/congress/billtext.xpd?bill=h111-45

This is not just one side of the isle either, an example of that was the passage of the Patriot Act which was the most egregious attack on our Constitutional freedoms, ever. Then there was the relaxation and omissions of the regulations that controlled our financial system which the Republicans introduced and passed and a Democratic President signed into law. Then there was NAFTA which the Republicans and Democrats introduced and signed into law by a Democratic President which in turn gave the green light to ship hundreds of thousands of jobs outside the country, with very little return for the work force in this country.

Are you getting the jest of our current Federal Government, not only centralizing more and more of the government but also disregarding what is good for the general population for the benefit of the lobbying powers in Washington? Lobbying reform is a must and we cannot wait for the legislature to give it its just due, on their own time, because it will never happen. We must tell our elected officials we need Lobbying reform that takes out the “behind the door lobbying efforts” and have them give honest public statements on what the lobbyists are trying to obtain, for their benefit.

One final thing I haven’t mentioned lately, between 8:00am and 10:00am EST Monday thru Friday there is a talk radio show from Richmond Indiana that is probably one of the best call in shows I have ever heard. They don’t use screeners to screen out opposing views, as many of the syndicated shows do but they let you voice your opinion on what ever subject you wish. As of the last few months, obviously there have been many shows on the economy. The show is called Talk Back and the host’s name is Troy Derengowski, an excellent show host. To listen to his program go to www.930whon.com and select the “Listen Live” link and enjoy the program. He also enjoys the interaction of the listeners so give his show a call at 888-310-9466. I know it is kind of early for some of you in the Western part of our country but it truly is worth listening to and contributing to. They do not pay me for promoting his show; I just believe it is a terrific show where you can express your opinions, so it try it, I promise you, you will find it interesting and informative and they get many national experts on his show to give their expertise on what is happening in our world today.

Greg Goodwin

1/20/09

Treasury Allowed IndyMac to Cook Books, Commit Fraud / Brian Ross, Justin Rood, and Joseph Rhee / ABC News / January 18, 2009

January 19, 2009

Alex Jones’ Infowars.com: Because there is a war on for your mind!.

Proposed Aggregator Bank is a Trojan Horse for the New “United States Bank” / Hugh Wood / January 19, 2009

January 19, 2009

Alex Jones’ Infowars.com: Because there is a war on for your mind!.

Greg’s Newsletter, Keeping the American Middle Class Informed / January 18, 2009

January 18, 2009

Every time I look into this bailout fiasco, I am amazed at the things the government has done and proposes to do to strengthen the financial institutions and do very little to strengthen the individual American’s balance sheets. This new plan to create a “Bad Bank” or “Aggregator Bank” which is just another name put on a Federal program that will have the same basic agenda the first bailout was supposed to do, buying up bad assets in the financial industry. As we have seen it didn’t work and when Paulson got the green light to control the $700 billion bailout. He changed what they proposed for that money, buying bad assets, but directly injected the money into the financial system’s coffers, without buying up any bad assets or getting the credit markets to lend with a real impact on the credit crisis. In fact most of that money was used for banks and lending institutions to buy up other banks and lending institutions at bargain basement prices or just put that money into their vaults. This just further concentrates the economic power which controls the monetary policy, through lobbying, of our Federal Government.

http://www.bloomberg.com/apps/news?pid=20601068&sid=amhKS1g61_J4&refer=home

This past week, Bernanke was suppose to appear before the Congress for questioning on where the bailout and financial status of the banking system. At the last minute he canceled going to Congress and instead went to Europe to meet with the other central bankers from around the world. By doing this he seems to be more interested in establishing the world banking system than answering to the American people what he and Paulson have been doing with the money and what this proposed new bailout bank is really all about.

After reading this article above, I have given you some of the economic power behind the governmental influence and the lobbying system this article mentions both past and present individuals that have been involved in setting monetary policy in our nation. It is quite an interesting list of groups and people.

1. Kenneth Rogoff – http://en.wikipedia.org/wiki/Kenneth_Rogoff

2. International Monetary Fund – http://www.imf.org/external/about.htm

3. Group of Thirty – http://www.group30.org/index.htm

A. Current Members – http://www.group30.org/members.htm

B. Past Members – http://www.group30.org/pastmembers.htm

C. Emeritus Members – http://www.group30.org/emeritus.htm

4. Timothy Geithner – http://en.wikipedia.org/wiki/Timothy_Geithner

5. Lawrence Summers – http://en.wikipedia.org/wiki/Lawrence_Summers

6. National Economic Council – http://en.wikipedia.org/wiki/National_Economic_Council

7. Paul Miller –  bank analyst at Friedman Billings Ramsey & Co- http://www.reuters.com/article/businessNews/idUSTRE4AJ1GV20081120

8. Sheila Bair – http://en.wikipedia.org/wiki/Sheila_C._Bair

9. Paul Krugman http://en.wikipedia.org/wiki/Paul_Krugman

10. Peter Wallison – http://www.aei.org/scholars/scholarID.58/scholar.asp

11. Henry Paulson – http://en.wikipedia.org/wiki/Henry_Paulson

12. John Bovenzi – http://www.fdic.gov/news/news/speeches/chairman/spjan1309.html

13. Ben Bernanke – http://en.wikipedia.org/wiki/Ben_Bernanke

14. Josef Ackerman Chairman of the Institute of International Financehttp://en.wikipedia.org/wiki/Institute_of_International_Finance

15. Harry Reid – http://en.wikipedia.org/wiki/Harry_Reid

16. John Douglas – former FDIC general counsel and partner in Washington law firm – http://en.wikipedia.org/wiki/Paul,_Hastings,_Janofsky_&_Walker

One thing I have found studying these groups and people, many were influencing the introduction of the Gramm-Leach-Bliley Act in 1999 which reduced and eliminated the regulations, which were introduced after the Great Depression through the Glass-Steagall Act of 1933. These reductions and eliminations of these regulations are what spurred the unregulated dealings in the derivatives markets (hedge funds) which in turned destroyed the housing market, followed by our total economy being affected by this self serving financial direction. Some of these are the people who created this disaster and now they are giving input how to correct it. As we have seen to this point, the only thing this bailout has been correcting is an attempt to correct the bottom lines of the financial industry, what about the American people? The trickle down effect of this bailout has not trickled down past the financial institutions and I doubt if we will see much trickle down for us from this proposed “Bad Bank”.

Finally, this article written by Professor Peter Morici – He is a Professor of International Business at the University of Maryland.  Prior to joining the University, he served as Director of Economics at the U.S. International Trade Commission.  He directed the agency’s professional economists working on ITC investigations and provided international economic policy advice to the House Ways and Means and Senate Finance Committees, U.S. Trade Representative, Council of Economic Advisors, and other government agencies.

In this article he tells us what the real unemployment numbers are and what needs to be done to begin establishing a direction to improve our nation’s economic condition. He along with others, like Ron Paul, knows what needs to be done to establish a sound recovery for the U.S. economic system with benefits for all of us not just the financially and politically well connected.

http://www.globalpolitician.com/25390-economics

Greg Goodwin

1/18/09

Greg’s Newsletter, Keeping the American Middle Class Informed / December 19, 2008

December 20, 2008

If you wonder how we got into this economic disaster, this article will give you a time line and who knew what and did nothing about this impending financial collapse.

http://market-ticker.denninger.net/archives/P3.html

Greg Goodwin

12/19/08

Greg’s Newsletter, Keeping the American Middle Class Informed / December 18, 2008

December 19, 2008

It appears the bailouts and injecting all of this liquidity and ridiculously low Fed Rate maybe catching up with the dollar. As I and some other economic pragmatists warning of the dollar’s inflationary troubles, may have begun. This article states the dollar has begun to drop in value. It use to be when the dollar fell in value, it was a good thing because it would make our products, which we use to produce here, more competitive in the world market place. Now with so much debt being held by foreign interests, China, Russia, Japan, Middle East, etc and the dollar sliding down in value against the foreign currencies, the only place they will be able to spend their dollars will be the USA, buying out our economic infrastructure. With all of the things we buy are either made outside the country or prices for commodities being controlled by international investment groups, everything we need, will be priced against international exchange rates and the potential for inflation or even hyper-inflation is a real. The end result will be anything invested in the dollar will continue to fall in value, which includes our savings, 401ks, and other investment vehicles. It also means everything we buy will become more and more expensive.

www.bloomberg.com/apps/news?pid=newsarchive&sid=a1MsoPDHjFS4

This just didn’t happen in the last year or so, I began writing about it in 2005 and others have been writing about it as early as 2002 but none of it made it to the main stream media with any real concern. The reason no one wanted to talk about it after the deregulation of the financial markets in 1999, there was an orgy in non-asset based investments, paper only speculation and no one cared at that moment because everyone at that time was making a ton of money. The main reasons for this problem is our current financial industry and business leaders were taught the very thing that we are paying for, short term MBA spread sheet mentality with little regard to anything past the next quarter or two and pure unregulated greed. This video will give you a good synopsis of the people who were warning us of this problem we are now facing and how they were trivialized.

www.youtube.com/watch?v=8PIEGK0IbA4

One final thought, we are trying to base our economy on credit or a better terminology, usury, instead of a sound financial structure, asset based money and banks and financial institutions not being able to do business beyond their asset values. The house of cards has fallen down and now we have rebuild it with a sound system based on assets, not paper. We are in a real disaster and the financial leaders do not seem to care about anything but protecting the financial industry and banks. This approach of establishing a credit only financial system will fail all of us, no one in the world will (eventually) lend us a dime and how will we repay what we already owe?

Greg Goodwin

12/18/08