As the debate over an audit of the Federal Reserve intensifies in the House, one camp is trotting out eight academics that it calls a “political cross section of prominent economists.”

A review of their backgrounds shows they are anything but.

In a letter to the House Financial Services Committee earlier this month, all eight wrote that they support the type of amendment now being introduced by Rep. Mel Watt (D-N.C.). Watt’s approach purports to increase Fed transparency while it actually would tighten restrictions on any audits that could go forward.

The letter was sent around Wednesday by Watt’s staff to members of the committee in advance of a vote scheduled for Thursday.

Watt’s measure is in competition with an amendment cosponsored by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.), which would repeal the restrictions that Watt leaves in place.

But far from a broad cross-section, the “prominent economists” lobbying on behalf of the Watt bill are in fact deeply involved with the Federal Reserve. Seven of the eight are either currently on the Fed’s payroll or have been in the past.

The Fed connections are not outlined in the letter sent around to committee members on Wednesday, but are publicly discernible through a review of their resumes, which are all posted online.

In September, Huffington Post reported that the Federal Reserve has accomplished a soft form of effective control over the field of monetary economics simply by employing — and being the means for career advance — for an overwhelming proportion of the discipline.

Now that the Fed is locked in a legislative battle on the Hill, it can call on those economists to give their “unvarnished” opinions to lawmakers.

The connections that the seven economists lobbying Congress have to the Fed are not incidental and four of them maintain current positions.

Let’s run the traps:

Frederic Mishkin is a former board member, having served from 2006-2008. His career at the Fed stretches back to 1977 and he currently holds two positions: one as a member of the Center for Latin American Economics at the Federal Reserve Bank of Dallas, where he’s been since 1996; and another as an academic consultant to the Federal Reserve Bank of New York, where he’s been since 1997.

Anil K. Kashyap is currently a consultant with the Federal Reserve Bank of Chicago, a position he’s held since 1991. He’s also on the economic advisory panel of the New York branch and was a consultant there in 2003. He was a visiting scholar at the division of monetary affairs at the Board of Governors of in1994, 2001 and 2005 and at the division of international finance in 1997.

Pete Klenow was a visiting scholar at the Federal Reserve Bank of Minneapolis from 1994-1999, 2003-2004, 2006 and again this year. From 2000-2003 he was also a senior economist at that branch. He’s currently a visiting scholar at the Federal Reserve Bank of San Francisco, a position he’s held since 2005. He was a visiting scholar at the Federal Reserve Bank of Kansas City from 2004-2006.

Ricardo J. Caballero was a visiting scholar at Federal Reserve Bank of Boston from 2004-2005 and a visiting scholar at the Federal Reserve Board on multiple occasions.

Robert Hall was a research assistant at the Board of Governors of the Federal Reserve System from 1982-1984 and an economist there from 1988-1991.

Thomas Sargent was an adviser to the Federal Reserve Bank of Minneapolis from 1981 to 1987 and continues to write frequently for Fed-sponsored journals.

Micheal Woodford is currently on the Monetary Policy Advisory Committee of Federal Reserve Bank of New York, a position he’s held since 2004. He’s also listed as a consultant to the research department there dating back to 2005. In the past, he’s been a visiting scholar at the Board of Governors and various regional branches in 1987, 1993-1998 and 2000-present, often at multiple banks in the same year.

Economists with Fed connections strongly reject the notion that being paid by the bank influences their thinking. But Robert Auerbach, who spent years investigating the institution and is the author of “Deception and Abuse at the Fed”, says that those economists are simply in denial. “If you’re on the Fed payroll there’s a conflict of interest,” says Auerbach.

The tie between the economists backing Watt’s amendment and the Fed doesn’t by itself mean that it’s bad policy, but it does make clear which amendment is favored by the Federal Reserve. If there’s still any doubt, the e-mail from Watt staff notes that former Fed chairs Alan Greenspan and Paul Volcker also support a version of it.

Meanwhile, a broad coalition of liberal organizations is lining up behind the Paul-Grayson amendment, which also has the backing of most Republicans on the committee.

The AFL-CIO and other labor groups, as well as Americans for Financial Reform signed on to a letter posted Wednesday calling for committee members to back the Paul-Grayson approach.

“In creating the Federal Reserve nearly 100 years ago, the Congress envisioned a central bank free from political pressure. But the structure that may have once ensured independence now appears to put the Fed much closer to the financial industry than the American people, who deserve to know who the beneficiaries are,” reads the letter.

The Fed, in other words, is not presently independent of political pressure, but that pressure comes from Wall Street banks rather than from the American people through their elected representatives.

It’s a distinction that the note from Watt’s staff on Wednesday subtly acknowledges, by focusing on legislative and executive branch pressure, rather than financial industry influence. The Paul-Grayson amendment, it warns, “would place the United States well outside of the mainstream of industrialized nations that shield their central banks from political interference by the Legislative and Executive branches of government, with potentially disastrous results to the U.S. economy.”

Commentary from The Liberty Tree Lantern:

Capt. Karl is scratching his head on one part of this article.  The President of the AFL-CIO is a member of the private and exclusive club of megalomaniacs, founded by The Federal Reserve “System” called The Trilateral Commission.  According to their own website their primary directive is to create a One World Government / New World Order.  Such a One World Government would be at the end of the puppet strings of The Federal Reserve cartel of twelve privately owned banks, who created The Trilateral Commission in the first place.  So why is the AFL-CIO bucking the Watt Amendment?  Any comments or info on this readers?   This doesn’t fit any form of logic.  Additionally, as many people know from the 1984 Grace Commission Report, the US Government doesn’t get any income taxes from the American People.  After transfer payments to various Socialist programs, like Social Security and Medicare for example, all income taxes go DIRECTLY to The Federal Reserve “System” for payment on the “Public Debt”.  So EVERY SINGLE PENNY that the US Government spends comes from and is borrowed from The Federal Reserve.  So every single Government program, except a couple of transfer programs, comes from the bottomless money pit at the Federal Reserve, who are the programmers of “The MATRIX” which is our economy based on little pieces of green paper printed out of thin air called FEDERAL RESERVE “NOTES” that our minds have programmed in public schools, the main stream media, The Federal Reserve, and The US Government, to believe are worth 100 cents apiece when in the ‘real’ world, outside of “The MATRIX” which only exists in our minds, they are really only worth 2 – 3 cents now after TARP, Bank and Corporate Bailouts, Stimulus and Socialist spending programs and various Government sanctioned “Ponzi” schemes.  Before this recent accelerated monetary policy programs the Dollar has been worth only 4 cents apiece for decades, even though in our minds we believed that they were worth 100 cents as we have been programmed to believe.  Of course much of the world today is starting to revalue the Dollar to its ‘real’ value of 2 – 3 cents, which will result in “hyperinflation” and, thereby, the total collapse of ‘The MATRIX’ (our economy) that has only existed in our minds for many decades, since fractionalized banking started chipping away from the gold standard and until it completely was eliminated by the US Government, anyway.   The AFL-CIO greatly believes in Socialism and Democracy which is defined as 50% plus one steals the individual rights, liberty, earnings and property, by popular vote and “mob rule”  from the remaining population so that by definition “Democracy” is the purest form of Socialism and/or Communism.  The Constitution, in contrast, “guarantees” a Republican form of government in Article 4 Section 4, so as to protect everybody’s individual unalienable rights, earnings and property from the immoral that would rob and steal and from the mob rule of “The Masses”, as Stalin would advocate.

The AFL-CIO believes in “free stuff” Socialist type programs from the US Government, who gets every single nickel from The FED that they spend.  So the question becomes; Why is the AFL-CIO biting the hand that “ultimately” feeds them from a bottomless pit of printed out of thin air money and whose President is a major member of the Trilateral Commission?  Are they coming to the side of Jeffersonian Constitutionalists now?  And, what about this “broad coalition of liberal organizations that are lining up behind the Paul-Grayson amendment?  Don’t they understand that ALL GOVERNMENT MONEY comes from THE FEDERAL RESERVE and NOT from income taxes?  Haven’t they read the Grace Commission Report?  Without THE FED Socialism and Government “free stuff” couldn’t exist.  I don’t get it? 

Anybody please comment.  If you don’t see a comment box below, just click on the title of this post and one will be produced below for you.

© 2009 WorldNetDaily

Just 12 months after voting by a 53-47 margin to put Barack Obama in the White House, only 43 percent of voters today would re-elect him, according to a new Zogby Internaional–O’Leary Report Poll.

“Most voters don’t trust the president on the number one issue of the day: job creation. On top of that, a surprising plurality of voters, and Independent voters in particular, don’t side with President Obama on the number one issue to him: whether or not he should be president,” said Brad O’Leary, a former NBC Westwood One talk show host and publisher of the O’Leary Report.

He’s also written “Shut Up America: The End of Free Speech.”

The pollsters on Nov. 10-12 surveyed 2,879 Americans who had voted in the 2008 presidential election. The results have a margin of error of plus-or-minus 1.9 percent.

The poll asked: If the presidential election were held next month, would you vote to re-elect President Obama or would it be time for someone new in the White House?

The poll showed only 43 percent of Americans who voted in the 2008 presidential election say they would vote to re-elect Obama – a reduction by 10 percent in the votes Obama received on election day last year.

Forty-five percent say they want someone new to be president. Eleven percent say that their vote for or against Obama would depend on who is running against him, and 1 percent are not sure.

Significantly, the poll revealed that only 37 percent of independent voters would vote to re-elect Obama. Forty-six percent say they would like to see someone new. Seventeen percent said they would want to know the opposition first.

Additionally, the poll asked: Please tell me how much you trust the Obama administration to pass federal legislation to create jobs in 2010?

“Not at all” was the response from 42 percent of the voters. Another 11 percent said they do not trust Obama “much.” Only about 1 voter in four said they trusted the president “very much,” and 18 percent admitted they trusted him “somewhat.”

“President Obama’s popularity with the voting public has been eroding for some time, but these numbers really drive home

the point,” O’Leary said.

WND reported only weeks ago a majority of Americans also are alarmed over attempts by the White House to stifle dissent or suppress free speech.

Before I get into the details of the title of this post, let me say that I already know some of you are going to want to react to what I write with a bit of malice. I’ve taken a little heat for my post ripping Newt Gingrich about his “Party over Principles” stance over on my personal blog, so I fully understand there are folks who feel very passionate about this issue. But let me also say that for every email against my position, there are twenty in support of it.

If you’re one of the few who are angry about all of this, do us a favor and point the fingers in the right direction.

If you haven’t been following the NY23 special election, I highly recommend you go read the scoop on my blog. In short, the GOP establishment took the liberty movement for granted, jumped behind the wrong candidate (a far left, liberal Republican) and expected the base to just fold and follow their pick without complaint.

At first. this all just appeared to be a poorly calculated decision for the beltway thugs who pretend to be the conservative movement. I mean, back when Newt Gingrich endorsed far left liberal Dede Sozzafava in the race, the grassroots movement was hardly paying attention. It wasn’t until about two weeks ago when the rest of the country realized what was going on.

During the past week, many movement conservatives have shown full support for conservative candidate Doug Hoffman in the race. Sarah Palin, Dick Armey, Club for Growth and MANY others have thrown their political weight behind him.

And not just the “players”… the Tea Party Movement has gotten involved in a huge way. Using the internet as vessel, the message of conservative candidate Doug Hoffman has traveled far and wide, and support for him has exploded.

Which left egg on the faces of all the establishment heads who jumped into the liberal Republican camp early on.

Mistakes were made. No doubt about it. But here is where it gets wild. Instead of doing the right thing, Newt Gingrich and crew have dug in their heels and are strongly defending their position.

Damage control was possible about five days ago, but now they’ve lost their chance. There is no turning back. They made the wrong choice. The refused to admit it and join the true base of the movement. And now they’re actually trying to preach to us that more of the same is needed to fix the problems more of the same created.

Bizarre.

All that said, one would think these groups would now keep their mouths shut and try to minimize the damage, right?

Wrong.

Politico reported today that the NRCC is actually goinjg to step up their efforts and dump another $300,000 into to media buys for far left candidate Dede Scozzafava.

The National Republican Congressional Committee remains committed to embattled GOP nominee Dede Scozzafava in the upstate New York House special election, even as many of the party’s top names throw their support to Conservative Party nominee Doug Hoffman.

Two party officials tell POLITICO that the NRCC will continue to air TV ads propping up Scozzafava in the days leading up to the Nov. 3 contest and plans to keep up a near relentless barrage of press releases slamming Hoffman.

Scozzafava, a state assemblywoman who supports gay marriage, abortion rights and has a close relationship with leading labor officials in her region, has been the target of sustained criticism from conservatives who claim she is too liberal for them to support her candidacy.

Not only is the NRCC going to waste donor dollars on a failed candidate with no hope of winning the race, they’re also going to attack the actual conservative in the race!

At this point, the only logical conclusion is that the NRCC (a huge hub of establishment consultants who leech off of donor money) and the rest of the old guard will arm itself for battle and wage war against the grassroots base rather than give it control.

For those in our movement who are saying “we don’t need to wage war against the machine right now”… wake up. The machine is waging war against you.

This is a fight the movement has been itching for. In my opinion, we should confront this machine and do so immediately.

Food for thought.

-Eric Odom

Capt. Karl’s Reply / Comment:

Fool me once, shame on you.  Fool me ten times, shame on me.  How many times do the Republicans get to tell us Jeffersonian Constitutionalists that they are for freedom, liberty and completely support The Declaration of Independence and the dovetail Constitution of the United States only to find out that their actions are, in large measure, opposed to their rhetoric?   After the behaviors of the last Republican Congress I am even beginning to wonder what the term RINO really means any more? 

When in the last ten decades has any Republican party rolled back the heinous usurpations that started with the ratification of the non-ratified 16^th Amendment by the lying Secretary of State Philanderer Knox and his boss in crime President Woodrow Wilson?  Not to mention the Constitutional atrocity of The Federal Reserve Act of 1913 that was passed on either Christmas Eve or the day before when President Woodrow Wilson held corruptible Congressmen from Christmas break to fulfill his commitment to the owner bankers of the cartel of twelve privately held huge banks that now make up The Federal Reserve “System”, for the endless campaign funds that they provided for his election, which allowed the tyrants in the U.S. Congress and several Administrations to borrow us into incremental oblivion and all manner of Constitutional contempt ever since.

Benjamin Franklin once said; “The definition of insanity is doing the same thing over and over and expecting different results. “   It should be obvious to all of us now that simply electing Republicans is not the answer to our problems.  The answer is in finding a way to ENFORCE THE LAW that we wrote, established and ordained in The Constitution by our individual authority bestowed upon us by our creator.   Especially, but not limited to, Article 1 Section 8 as further supported by the 9^th and 10^th Amendments in The Bill of Rights.

Is it not clear that, according to THE LAW, the U.S. Government was ‘borrowed’ certain powers by us, from our authority given to us individually by our creator, to ONLY handle these SEVENTEEN ‘enumerated’ powers for the ‘privilege’ of serving us at and for our convenience?  Is it not true that the veracity of this is clearly written in The Declaration of Independence as followed up by the dovetail LAWs as written in The Constitution?  When, may I ask, did any Republican serve to reverse any significant numbers of usurpations of authority enacted through these nearly ten decades of incremental tyranny, which have ultimately resulted in the clear display of despotism we see by our current non-representing Representatives and Administration on TV nightly?

It may be true that Democrats are even worse, but for me, I will never ever vote for a Republican again unless he or she promises to completely reverse EVERY SINGLE character of constitutionally contemptuous usurpation in legislation ever drafted.

 If the Federal Government were to obey the law, especially but not limited to, Article 1 Section 8, can you imagine how, after about five years of the imminent financial hardship which lies before us due to our unsustainable economy based on pieces of almost worthless paper and ink called FEDERAL RESERVE “NOTES” that are worth 100 cents each only in our minds, when in reality they are worth 2 – 3 cents each, crashing,,,  quickly the vast majority of our average common workingmen and women would become relatively wealthy once again in the environment of true liberty and freedom.  The potential of what would happen if the LAW was obeyed by our Federal Government is almost too much for the human mind to comprehend.  Ask yourself, how fast would we individually recover financially if we were free to keep almost everything we earned rather than Government spending it?  Just the thought of all of those Trillions being left in our hands and our economy is utterly mind blowing.

Would any Republican be willing to force compliance with Constitutional Law in full force and effect?  I don’t think that these liars would.  And this comment is coming from a registered Republican and supporter of 32 years.

BUT NO MORE!  You are either for the complete Constitution WORD FOR WORD, in spirit and intent as it WAS meant when it was ratified or you can FORGET MY VOTE!  PERIOD!  You damn lying traitors!

In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading

By Robert Fisk

Tuesday, 6 October 2009

Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars.

In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

The Americans, who are aware the meetings have taken place – although they have not discovered the details – are sure to fight this international cabal which will include hitherto loyal allies Japan and the Gulf Arabs. Against the background to these currency meetings, Sun Bigan, China’s former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. “Bilateral quarrels and clashes are unavoidable,” he told the Asia and Africa Review. “We cannot lower vigilance against hostility in the Middle East over energy interests and security.”

This sounds like a dangerous prediction of a future economic war between the US and China over Middle East oil – yet again turning the region’s conflicts into a battle for great power supremacy. China uses more oil incrementally than the US because its growth is less energy efficient. The transitional currency in the move away from dollars, according to Chinese banking sources, may well be gold. An indication of the huge amounts involved can be gained from the wealth of Abu Dhabi, Saudi Arabia, Kuwait and Qatar who together hold an estimated $2.1 trillion in dollar reserves.

The decline of American economic power linked to the current global recession was implicitly acknowledged by the World Bank president Robert Zoellick. “One of the legacies of this crisis may be a recognition of changed economic power relations,” he said in Istanbul ahead of meetings this week of the IMF and World Bank. But it is China’s extraordinary new financial power – along with past anger among oil-producing and oil-consuming nations at America’s power to interfere in the international financial system – which has prompted the latest discussions involving the Gulf states.

Brazil has shown interest in collaborating in non-dollar oil payments, along with India. Indeed, China appears to be the most enthusiastic of all the financial powers involved, not least because of its enormous trade with the Middle East.

China imports 60 per cent of its oil, much of it from the Middle East and Russia. The Chinese have oil production concessions in Iraq – blocked by the US until this year – and since 2008 have held an $8bn agreement with Iran to develop refining capacity and gas resources. China has oil deals in Sudan (where it has substituted for US interests) and has been negotiating for oil concessions with Libya, where all such contracts are joint ventures.

Furthermore, Chinese exports to the region now account for no fewer than 10 per cent of the imports of every country in the Middle East, including a huge range of products from cars to weapon systems, food, clothes, even dolls. In a clear sign of China’s growing financial muscle, the president of the European Central Bank, Jean-Claude Trichet, yesterday pleaded with Beijing to let the yuan appreciate against a sliding dollar and, by extension, loosen China’s reliance on US monetary policy, to help rebalance the world economy and ease upward pressure on the euro.

Ever since the Bretton Woods agreements – the accords after the Second World War which bequeathed the architecture for the modern international financial system – America’s trading partners have been left to cope with the impact of Washington’s control and, in more recent years, the hegemony of the dollar as the dominant global reserve currency.

The Chinese believe, for example, that the Americans persuaded Britain to stay out of the euro in order to prevent an earlier move away from the dollar. But Chinese banking sources say their discussions have gone too far to be blocked now. “The Russians will eventually bring in the rouble to the basket of currencies,” a prominent Hong Kong broker told The Independent. “The Brits are stuck in the middle and will come into the euro. They have no choice because they won’t be able to use the US dollar.”

Chinese financial sources believe President Barack Obama is too busy fixing the US economy to concentrate on the extraordinary implications of the transition from the dollar in nine years’ time. The current deadline for the currency transition is 2018.

The US discussed the trend briefly at the G20 summit in Pittsburgh; the Chinese Central Bank governor and other officials have been worrying aloud about the dollar for years. Their problem is that much of their national wealth is tied up in dollar assets.

“These plans will change the face of international financial transactions,” one Chinese banker said. “America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.”

Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.

Folks, the reason for all of this is because we have not taken care of our INDIVIDUAL responsibility to be educated as to: 

• The one and only meaning of freedom and liberty as defined by our founding fathers.
• The purpose and meaning of The Constitution
• The meaning and purpose of The Declaration of Independence
• To understand that The Constitution is a set of LAWS that We The People wrote, established and ordained on All Three Branches of the U.S. Government to make sure that they do not do what they have done to us, our country and, in the process, our DOLLAR and our economy.
• To realize that it is an encumbrance upon all of us, individually, to be informed and to enforce the laws that we wrote, established and ordained on all three branches of the U.S. Government.  This means that it is our responsibility to talk about all these things, that you “might” call politics, although in reality it really isn’t politics it is law, morality, principles and economics, wherever you go because it directly impact your lives, our economy, our freedom, our liberty and your personal income and potential.  We have become uneducated (about freedom and Constitutional principles) and how to enforce our own laws on our own Government.  Do you even know the last ten words, which allow us to hold our Government entirely accountable and to redress infringements, of the first Amendment?
• We all must realize that we CAN do something about all of these things if we are educated with regards to the tenets, purpose, spirit and intent of the Constitution and our ultimate authority that we were individually given by our creator.
• We all must understand and PERSONALLY IMPLIMENT the 28 Freedom Principles.
• Do you know that Thomas Jefferson wanted that only gold coins would be used for our currency?  If this were still true and there was no “Central Bank” Federal Reserve “System” we would be as wealthy as our minds have been programmed to think we are in this real world MATRIX that only exists in our minds because we have been led to believe that paper and ink in the form of FEDERAL RESERVE “NOTES” are worth 100 cents when in the real world, outside of The Matrix, they are really worth only 2 – 3 cents, which is exactly worth the world will value our dollars in less than three years.
• If you ‘think’ in your mind you are getting paid $50.00 per hour, in the real world, outside of the Matrix of your mind, you are really getting paid only $1.00 an hour.  Soon the entire world will revalue the dollar to the true reality of this.  When the world does this will you really drive to work and actually work for a dollar an hour when a single gallon of gasoline costs you $100.00 and a loaf of bread costs $80.00?  This is what is going to happen in LESS than three years; All because you thought you had more important things to do than talk or care about what you ‘think’ is politics when it is NOT politics but it is your very life, your rights, your money, your freedom and your liberty.  But you just didn’t care to talk about it.  How about if you go out some place RIGHT NOW, IF NOTHING ELSE go to a tavern and have a beer and START TALKING ABOUT ALL OF these things you should have been talking about all along?  Where ever you go you need to start learning and talking about all of these things to your friends, relatives and people you just bump into at the beach or camping or whatever you do.  You all have to start caring enough to at least talk about all of this so that we can unite and do what we must do to ENFORCE the LAW on our Government.
• We must realize that the entire collapse of The MATRIX, our economy that only exists in our minds, is a blessing because until THE MATRIX is totally destroyed we will never be free of the tyrants and despots in all three branches of the U.S. Government and the cartel of twelve privately owned banks, who ultimately control them and us through monetary supply and manipulation, called THE FEDERAL RESERVE “SYSTEM” who created The MATRIX in the first place, through Constitutionally contemptuous legislation by usurping tyrants.
• The utter collapse of The MATRIX is going to be a horrible hardship for a few years, about five or so, and we may even need a Re-Revolutionary War to ENFORCE The Law in The Constitution on our Government, but if we stay the course the vast majority of common average Americans will become wealthy through hard work, the blessings of God and being able to keep our own earnings and choose for ourselves and our families how and on what we will spend our money (gold and/or silver coins) on.
• Pray, people, for the collapse of the Matrix, be ready and prepare to survive the hardships and be ready to fight physically if necessary, for the rule of LAW of The Constitution to the full force and effect of it word for word, in spirit and intent, as it WAS meant on the day it was ratified.
• If you don’t want to see war than support We The People Congress.  This organization and the NEW Continential Congress, is our ONLY chance to avoid it; by peacefully holding every single member of all three branches of the U.S. Government accountable to the LAWS in The Constitution.

Peter Schiff is president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets and Crash Proof: How to Profit from the Coming Economic Collapse.

For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.

Those who do cling to the absurd belief that, absent exponential productivity gains, the economy can expand while workers are being laid off will undergo a massive test of their convictions now that it’s clear the employment picture is bleak. Today’s weaker-than-expected report on non-farm payrolls revealed that employers shed 263,000 jobs in September. The losses propelled the headline unemployment rate to a 26-year high of 9.8%. U6, the Bureau of Labor Statistics’ most complete measure of unemployment, has risen to a dismal 17%. This figure includes those people who want to work full time, but have simply given up looking, or who have accepted part-time work in the interim. As it is similar to the methodology used during the Great Depression, U6 offers better historical perspective on the severity of our current crisis.

Taken together with yesterday’s larger-than-expected pickup in unemployment claims (first time claims rose by 17,000 to 551,000), today’s report makes it certain that the job market is still contracting, even while some indicators like GDP and consumer confidence are moving in the opposite direction.

There is no question that the sense of panic has temporarily subsided. In recent interviews, Treasury Secretary Geithner has been almost giddy in his descriptions of the recovery — all the while crediting his own policies for averting disaster. Americans are once again taking the government’s bait by spending money they don’t have to buy things they can’t afford. Evidence of this trend was contained in data released earlier this week which showed that even while income growth was largely stagnant, U.S. consumers showed the biggest month-over-month increase in personal spending in ten years! With the same report showing a 25% drop in the savings rate, the source of the spending money is clear. But depleting savings and increasing borrowing does not a recovery make.

To really recuperate, the government must allow market forces to restructure our economy. The government and individuals must rein in their spending; we must replenish our stock of savings, allow interest rates to rise, asset prices to adjust to economic reality, insolvent businesses to fail, and wages to reflect productivity. To accomplish these goals, subsidies that distort market forces must be removed and regulations that undermine our competitiveness must be repealed.

None of this can be accomplished without a degree of short-term economic pain. However, if we endure it, the payback will be a real recovery with plenty of new jobs that don’t rely on government stimulus money. If we refuse to allow the economy to experience a real recession, we will never have the benefit of a real recovery. Instead, we get the “jobless recovery,” a veneer of apparently positive indicators that merely obscures the underlying rot.

Over the last few decades, our industrial job market has atrophied while service- and public-sector jobs have grown unsustainably. We must restore balance. New jobs will have to come from areas that produce goods; bloated service and government sectors must be allowed to shrink. By propping up the sectors that need to contract, and running staggering budget deficits, the government cuts off the capital necessary to fund sectors that need to expand.

In truth, many of the service-sector jobs that exist today, such as real estate sales, mortgage finance, home improvement, and auto sales, were created in an environment of ever-increasing home equity, rising stock prices, and almost unlimited access to cheap consumer credit. With home equity gone, stock markets flat, and credit depleted, Americans find themselves needing to save rather than spend. But Washington has put through policies that have counteracted our good instincts.

While we were focusing our economy on consumer spending, much of the rest of the world was saving for the future. As such, we must begin to produce more for export, so that we can sell goods to those who have the savings to pay for them. That is the only way we can repay our debts, replenish our savings, repair our infrastructure, and rebuild our industrial base.

Another prerequisite to any real economic expansion is the potential for business owners to earn profits. With increased regulation and higher taxes on the way, these incentives are being diminished. In fact, via a phenomenon called ‘regime uncertainty,’ our current policy path is actually encouraging businesses to contract in order to prepare for a more hostile business environment.

Robust economies utilize all spare capacity, or restructure it for better use. Having 17% of our able-bodied population sitting at home or working part-time at Cinnabon indicates that our present policies are weakening the economy — even if GDP is growing. There is no “jobless recovery,” only senseless cheerleading. 

Now Liberty Tree Lantern analysis and comment about Peter Schiff’s article and thoughts in the above article:

 Capt. Karl would note that Mr. Schiff’s basic economic theory and concepts, enabling such forecasts are very closely aligned with that of The Liberty Tree Lantern.  However, due to the intense desire of the members of the U.S. Government and The Federal Reserve “System” not wanting to lose their almost absolute power over not only our money but our daily behaviors and decisions and to whom our earnings from our labor goes, the “Powers That Be” are not going to let “The Matrix” like economy collapse as Mr. Schiff RIGHTLY prescribes because it is that very MATRIX that gives them their power over us and our earnings. 

Without The MATRIX, the economy that only exists in our minds believing that Monopoly money printed on glorified computer printers at the office of “The Fed” are worth 100 cents when in reality they are only pieces of paper with ink on them called “NOTES”  Federal Reserve “Notes” as printed thereon, which is an I.O.U. promising to pay with ‘real’ money in the future, in this case a future that will never arrive, our freedom, liberty, unalienable rights and individual wealth for the vast number of our average common working Americans, being able to keep their own earnings and choose for themselves what they want to do with their money, would be restored.  This, to the “Powers That Be”, is a horror that is far too alarming to behold.  Therefore, The Liberty Tree Lantern submits to our dear knowledgeable and noble Mr. Schiff, that the economy over the next 8 – 12 months will boom as the result of pumping an ever increasing level of TRILLIONS of dollars in Monopoly money/Federal Reserve “NOTES” into the economy resulting in cash seeping into our economy, created out of thin air demand for goods and services and millions of people being re-employed and some making more money than ever before.

And that, my intellectual friend (who I hope to meet someday), is when we will KNOW that the total and nightmarish collapse of The MATRIX, our economy, is close at hand.  When almost everybody is lulled into thinking that everything is on the mend, but behind the scenes there will be all sorts of disruptions in the economic forces because an economy based on paper and ink alone is not sustainable due to Natural Laws of economics.  We are well on our way to a BLACK FRIDAY that makes 1929 look like a cake walk.  And the ONLY WAY to tell when it is close at hand is when most everybody is back to work and everything seems, for the most part, honky-dory.  But, in the background, economic analysts will be scratching their heads knowing something isn’t right.  More and more banks will fail to the point that the FDIC will need infusions over and over again.  Taxes on the average common blue collar worker will go up substantially to pay for all sorts of TARP, stimulus, BAILOUTS, untold numbers of Socialist spending  programs and last but DEFINATELY not least Social Security and Medicare, which is a $99 TRILLION Dollar hand to mouth Ponzi scheme that makes Bernie Madoff look like a rank amateur.  Only this ponzi scheme is about to financially cripple 306 MILLION Americans and our entire nation.

And THIS IS A GOOD THING!  THIS IS A BLESSING!  Because IF we then have become motivated enough to learn about the value of freedom, liberty and capitalism, in addition to the 28 Freedom Principles in which The Constitution was drafted, we will become free and after about five years of hardship, turmoil and a possible Re-Revolutionary War, we will restore our INDIVIDUAL freedom, liberty and prosperity.  You see folks as long as ANY PART or hint of The MATRIX exists, we will never have our INDIVIDUAL freedom, liberty, unalienable rights or prosperity that can only be created by them as blessed by God and not the economic and personal slavery by and resultant from Constitutionally contemptuous Socialist, Communist, and/or Fascist “progressive” members in all three branches of the U.S. Government and their  cartel of twelve private banks that make up The Federal Reserve “System”.

Peter Schiff is exactly right.  The Matrix (our current economy based on Monopoly money and Constitutional contempt) has got to comprehensively be shutdown, so that we can rebuild our freedom, liberty and economy, even though it is going to hurt like hell for a few years.

Tax his  land,
              Tax his bed,
              Tax the table
              At which he’s  fed.
    
              Tax his tractor,
              Tax his  mule,
              Teach him taxes
              Are the  rule.
    
              Tax his work,
              Tax his  pay,
             He  works for peanuts
              Anyway!
             Tax  his cow,
              Tax his goat,
              Tax his pants,
              Tax his coat.
              Tax his  ties,
              Tax his shirt,
              Tax his work,
              Tax his  dirt.
    
              Tax his  tobacco,
              Tax his drink,
              Tax him if he
              Tries to  think.
    
              Tax his  cigars,
              Tax his beers,
              If he cries
              Tax his  tears.
    
              Tax his car,
              Tax his  gas,
              Find other ways
              To tax his  —.  (Ass)
    
              Tax all he has
              Then let him  know
              That you won’t be done
              Till he has no dough.
    
              When he screams and  hollers;
              Then tax him some more,
              Tax him  till
              He’s good and sore.
              Then tax his  coffin,
              Tax his grave,
              Tax the sod in
              Which he’s  laid.
    
              Put these  words
              Upon his tomb,
              Taxes drove me
              to my  doom…’
    
              When he’s  gone,
              Do not relax,
              Its time to apply
              The inheritance  tax.    
             Accounts Receivable  Tax
              Building Permit Tax
              CDL license  Tax
              Cigarette Tax
              Corporate Income Tax
              Dog License  Tax
              Excise Taxes
              Federal Income Tax
              Federal Unemployment Tax  (FUTA)
              Fishing License Tax
              Food License  Tax
              Fuel Permit Tax
              Gasoline Tax (currently 44.75 cents  per gallon)
              Gross Receipts Tax
              Hunting License  Tax
              Inheritance Tax
              Inventory Tax
              IRS Interest Charges IRS  Penalties (tax on top of tax)
              Liquor Tax
              Luxury Taxes
              Marriage License  Tax
              Medicare Tax
              Personal Property Tax
              Property  Tax
              Real Estate Tax
              Service Charge T  ax
              Social Security Tax
              Road Usage Tax
              Sales  Tax
              Recreational Vehicle Tax
              School  Tax
              State Income Tax
              State Unemployment Tax  (SUTA)
              Telephone Federal Excise Tax
              Telephone Federal Universal  Ser vice FeeTax
              Telephone Federal, State and Local Surcharge  Taxes
              Telephone Minimum Usage Surcharge=2  0Tax
              Telephone Recurring and Non-recurring Charges  Tax
              Telephone State and Local  Tax
              Telephone Usage Charge Tax
              Utility  Taxes
              Vehicle License Registration  Tax
              Vehicle Sales Tax
              Watercraft Registration  Tax
              Well Permit Tax
              Workers Compensation  Tax

 STILL THINK THIS IS  FUNNY?   – - -   Not one of  these taxes existed 100 years ago, and our  nation was the most prosperous  in the world.  Prior to the FEDERAL RESERVE ACT OF 1913 and the NON-ratified ratification of the Sixteenth Amendment, by the LIAR Secretary of State Philanderer Knox and President Woodrow Wilson, in the same despotic year, the average common working man was increasing wealth at an unbelievable rate and was the envy of the world.  We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids in a loving caring family where they talked and actually had most meals together as a family.    What has happened? Can you spell usurping U.S. Congress, The Federal Reserve “System”, President(s) and Constitutionally contemptuous Supreme Court “activists” legislating from the bench?  In other words, we didn’t take care of our individual responsibilities to enforce the rule of OUR laws.

People, WE THE FREE, have been given our individual authority and unalienable rights by our creator.  We ‘borrowed’ some of our authority to the U.S. Government for the ‘privilege’ of handling ONLY SEVENTEEN enumerated items in Article 1 Section 8 of the LAW as We The People wrote, established and ordained on our Government to protect our unalienable rights; rights and supreme authority that were given to us by God himself.  What mere government has the right to usurp authorities that we never gave them as our servants; who are to serve us at our pleasure and who are to follow and obey the rule of law that we ordained through our individual authority that we were given by God?

Although there is a conflicting constitutionally contemptuous case, the Supreme Court found that the Sixteenth Amendment confers no new taxes on anyone who wasn’t taxed before it, referring to the apportionment clause with regards to direct taxes in Article 1 Section 2.  So the fact is there IS NO LAW requiring the average common working American citizen to file or pay Income Taxes.  See: www.TruthAttack.org  AND, the fact is, that the IRS has NEVER, not once in even ONE SINGLE CASE, brought forth the law that compels the average working American citizen to file or pay Income Taxes into any courtroom or proved its existance to any jury in the history of American courts. 

• See the IRS Special Agent, Joseph Bannister Video <Click

More information and video PROOF for your own eyes and ears about perjury by the IRS in court:

 If the U.S. Government was FORCED to obey the LAW that we wrote, established and ordained in The Constitution and were thereby as written in black and white under Article 1 Section 8 and as further supported by the 9th and 10th Amendments in The Bill of Rights, only allowed to handle, as ENFORCED BY OUR EXISTING SUPREME LAW, the SEVENTEEN enumerated items therein and as the natural obvious result would yield the collapsed of the U.S. Government to only 1/5^th of its current size, scope and spending level and we the people would get to keep our earnings and decide for ourselves how to spend it all, can you even possibly imagine how our economy would boom?  Can any human being have the mental capacity to even comprehend the speed of how fast our individual wealth would increase and thereby the prosperity of our country and our posterity?  HOLY STIMULUS (!) – -  Can you imagine the advances in Science and technology with the creative forces of freedom and liberty unbridled, being restored to the individual American citizen as per the Declaration of Independence and its dovetail corresponding document The Constitution of The United (but independent and sovereign) States of America?  We need only look to our American heritage to get a glimmer into the future of the VAST individual American potential bathed in the environment of true righteousness and LIBERTY under God.

The answer to most all of our problems is not found in the halls of Congress, the White House, EITHER political party, or even the Supreme Court of the United States, but rather in the 28 FREEDOM Principles <Click hotlink.  Using these principles the United States of America, meaning THE PEOPLE not the Government, leaped 5000 Years in ONLY 200 years of our country’s birth in terms of technology and general human advancement.

And, now because of the usurpation and tyranny of all three branches of  The United States Government I still have  to ‘press 1′ for English!?

Here is the real time result of this scofflaw criminal legislation by President Woodrow Wilson and a number of U.S. Congressional henchmen from both houses who voted on The Federal Reserve Act of 1913 during the Christmas break when the righteous Congressmen were home with their families on Christmas Eve or perhaps the day before: http://www.usdebtclock.org/

The “Debtors Revolt” are Americans trying to make a reasonable demand that banks, virtually cronies of The Federal Reserve “System”, treat them with fairness and dignity.  The Liberty Tree Lantern, despite our belief in freedom and free enterprise, has held that it is not right that banks revise a person’s interest rate up significantly, just at the time when a person, often due to no fault of his own, is hitting hard times.  Often this unscrupulous action results in keeping an otherwise good man or woman down.  Some people are never able to recover or get out from under the debt that many of these banks levy on them.  Isn’t it bad enough that the person has fallen on hard times, perhaps lost his or her job due to “sensible” downsizing and modernizing by his company or for recession reasons?  What right does a bank have to kick a dog that is already down and out on his or her luck?  This is just not right or Christian like, to say the least.  In addition The Liberty Tree Lantern also believes that such “forced” corruption of business practices, besides being unchristian and unrighteous, also negatively impacts the overall economy of our county.  Our fellow countrymen are having their financial resources unscrupulously and forcibly, without ’sensible’ mutual agreement (small print is not appropriate and is nothing more than an malevolence trick to legally rob good honest respectable individual Americans, when they are down to take advantage of them, AND YOU KNOW IT!) and results in harmful impacts on our overall economy for individual Americans and our nation at large (Click: Thomas Jefferson on Big Banks, Politics & Government).

Furthermore, it is true that these banks, cronies of The Fed, are getting the money they borrow to Americans, for little or NOTHING, but yet they are charging us individual Americans as much as 20 – 30% interest and this when our fellow countrymen are down on their luck.  And this rate is raised up from as little as 2, 7 , or perhaps 14%  to this sky-high levels?  What the hell is that?  Americans, this Capt. Karl totally believes in profits and “properly” and “appropriately” run businesses and companies.  But this is just NOT APPROPRIATE, Godly or American.  This atrocious practice by these bankers has to come to an END for us individually and for our country as a whole.

The Liberty Tree Lantern and Capt. Karl, therefore, fully supports the Debtors Revolt and is proud of Ann Minch for her effort to help our fellow countrymen in distress. 

A number of credit card issuers boosted rates and changed terms on their cardholders ahead of a federal law that reins in such acts.

Kudos and CONGRATULATIONS, Debtors Revolt and Ann Minch for your recent success against these oppressor banks who seek to enslave men and women; just as those in the U.S. Government with taxation of all sorts and especially Income Taxes, which according to the 1984 Grace Commission Report, goes DIRECTLY to The Federal Reserve to pay interest on the “public Debt”.  It appears self-evident that the honorable Thomas Jefferson on Big Banks, Politics & Government was 110% correct.

Last night from our Americans for Prosperity “Hands Off My Health Care” town hall meeting at the Raleigh fairgrounds, I watched along with 1,100 activists as the President declared he has basically saved our economy since coming into office in January.

By “saved,” the President means passing the $1-trillion “stimulus” bill in the spring that drove our debt through the roof while wasting money on boondoggles across the nation.

The President’s self-congratulatory rhetoric was stunning when our unemployment is creeping toward 10%, budget deficits are the biggest in American history and our national debt is through the roof.

Sadly, the President then went on to repeat many of the same falsehoods that he has used for months in the health care debate. First, he declared that the Washington health care takeover will not change in any way the health care coverage of the 85% of Americans who currently like their health care. Most Americans know better.

Then, he once again attacked the millions of Americans like you and me who have attended town hall meetings, rallies, and tea parties to defend their health care and oppose the Washington takeover.

AFP activists telling President Obama Hands Off My Health Care

Next, the President stated – with a straight face – that his health care takeover will not increase the budget deficit a single penny! The crowd in Raleigh literally roared with laughter at this line, and I suspect most Americans know the truth – that’s one reason we’re winning.

President Obama said businesses would be required to “chip in to help cover the cost of their workers,” a clever way of saying he supports a punitive payroll tax for health care.  Does that mean he supports the 8 percent payroll tax included in H.R. 3200?  That’s a huge job-killer at a time our economy can least afford it.

The President stated that his “public option” – aka the government-run insurance plan – will not harm the private insurance that literally tens of millions of Americans enjoy. But we have seen him on video giving speeches where he details his vision of everyone relying on government health insurance. Click HERE for video.

The President did acknowledge the need for tort reform to get rid of frivolous lawsuits. However instead of putting this reform in the health care bill President Obama placed Health and Human Services Secretary Kathleen Sebelius – a former lobbyist for trial lawyers – in charge of such reforms.

There’s so much more, but you get the idea.

I’ve got a request for you. The President and his friends are counting on this speech being a game changer. It’s not. But TODAY, you need to tell your member of Congress that the President’s speech has not changed your mind. Act now.

The bottom line is this: despite a rousing summer when your grassroots activism captured the imagination of the American people and slowed the momentum for the Washington health care takeover, we face a September, October and potentially November where the future of our health care is in doubt.

President Obama, Speaker Pelosi and the entire big government side is counting on you and me losing interest or growing weary of the fight.

We can’t let that happen. This Saturday’s 9/12 “Taxpayer March on Washington” is crucial and I hope to see you there. We’ll have both our Patients First “Hands Off My Health Care” buses cruising the streets around the Capitol.

Then, we’ve got to keep the pressure on these Senators and Representatives throughout the fall.

At our rally in Goldsboro yesterday afternoon (just before the big town hall in Raleigh), a lady named Janet walked up to me. Her son is a special needs child and she told me their family’s story of struggle and achievement – it was inspiring. But, Janet knows what is at stake for her precious child if we lose this battle over health care, and that’s why she took time from a busy day to attend the rally and fight the good fight.

In the decisive weeks and months to come, let’s make the same commitment.

Sincerely,

Tim Phillips

PS: Please let your Senator or member of Congress know that President Obama’s speech has not changed your position one bit. Today please call or e-mail because it’s important for Washington to get the message–the President’s speech changes nothing.

God created all sorts of energy resources, only a few of which have been developed and utilized to drive our economy.  Energy is the life blood of freedom and it is what allows our economy to produce individual wealth for all Americans.  And, this is why energy, in all forms, is so very important to the average working American.  Cheap inexpensive oil is what results in the costs of everything to go down to reasonable affordable levels for us all.  When energy is inexpensive it is also an incentive for Americans to start new small businesses, because then it is easier to make a good profit, and therefore lower energy costs results in hundreds of thousands of new jobs and allows for significant increases in money available for wages on the shop floor or out in the field.

Energy prices, like prices for everything, are determined by the principles of supply and demand.  The more supply of energy the United States has available to meet the demand of our large and small businesses and individual needs and desires the less it costs.  That is why we the American people have so much power to lower the cost of our energy and make ourselves individually more wealthy.

The fact is that there are HUNDREDS of BILLIONS of barrels of oil and vast volumes of natural gas available DOMESTICALLY right here in and around America.  In addition America has vast resources in coal energy.  Combining the unfathomable quantities of these resources with new developing energy sources would immensely improve all of our families’ economic conditions.  The Liberty Tree Lantern is astonished at how little the mainstream media is reporting all of the new and existing volumes of domestic energy available for us.  We also find it interesting how little it is reported that the Obama Administration is standing in the way of releasing the leases necessary to drill and harvest these vast resources that would so greatly improve our economy and restore the prosperity of individual citizens.

What we need to do as Americans is to get together and with one Tea Party like voice demand that Obama and his Secretary of The Interior release the leases that our Oil companies need to drill for oil out west on federal lands and offshore all around our country and Alaska so that we can build up America and strengthen our freedom through massive infusions of domestic energy.

The Liberty Tree Lantern is happy to provide just one story, of dozens of available, regarding domestic American energy just waiting for the Obama Administration to let us produce the energy we so desperately need to lower our costs of everything.   Please send a personal message to Congress via, paper, e-mail and phone that you want Obama to release the drilling leases immediately.  Tell them to DRILL  HERE AND DRILL NOW!  (Do you know that Obama is stealing American taxpayer money to “give” to Brazil for ‘them’ to drill for oil offshore?  See:  U.S. Taxpayers to Provide Financing To Brazil for “Their” Offshore Drilling)

When you write or talk to your Congressman, make sure that you mention that the LAST thing we need are taxes on energy that will increase costs on every single thing the American family needs to live and businesses need to create well paying jobs.  Reject Cap-n-TAX in any form, folks, because such taxes will set our entire country back by decades destroy jobs, wealth, savings and create poverty.

The Liberty Tree Lantern has a few questions for our readers to ponder: 

1. Why, after the people of America demanded that the ban on offshore and western Federal Lands expire, which it did some months ago now, has the Obama Administration withheld exploration leases and not allowed oil companies to go where they know the domestic oil likely is for exploration and harvest? 
2. Why is the Obama Administration keeping America from our own domestic energy instead of depending on and importing energy from other countries?
3. Why doesn’t the majority of mainstream media report on the Billions of Barrels of crude oil available in Western Federal Lands and offshore when this energy would obviously improve the lives of so many Americans?
4. America is in a horrible recession RIGHT NOW that could OBVIOUSLY be greatly remedied by dramatically increasing that availability of our own massive volumes of domestic energy, doesn’t the Obama Administration care about the average individual American who is out of work and quickly running out of money due to job loss and increased prices on utility bills, gasoline, food and just about everything else?