Saturday, November 26, 2005
Too Much W-ne
Hullabaloo
From Atlas Shrugs, centerfold of the Bathrobe Media Empire
G-d bless President Bush, holding himself out there for ridicule and vile hate so that we might be stay free. History will be kind to President Bush and hold him in the highest regard. He sees the future, he sees the realites, he sees the truth s we take so for granted.
Am-n
From Atlas Shrugs, centerfold of the Bathrobe Media Empire
G-d bless President Bush, holding himself out there for ridicule and vile hate so that we might be stay free. History will be kind to President Bush and hold him in the highest regard. He sees the future, he sees the realites, he sees the truth s we take so for granted.
Am-n
Orange Flowers
This is a photo from an exhibition in Kew gardens I went to this summer passed. It is a part of a huge lamp that is hanging from the ceiling. I was really amazed by this artist as he works with passion and creates everytime something unique. I watched the video on his work which is highly recommended.
Solari Action Network :: View topic - A Note from Catheirne on the Fed's Cancellation of M3
Solari Action Network :: View topic - A Note from Catheirne on the Fed's Cancellation of M3
TO THE SOLARI ACTION NETWORK November 25, 2005 A Note from Catherine on the Fed's Cancellation of M3 I have been asked by several network members to comment on the cancellation by the Federal Reserve of the publication of its broadest series of aggregate monetary statistics, known as "M3." ======================================== http://www.federalreserve.gov/releases/h6/discm3.htm Discontinuance of M3 On March 23, 2006, the Board of Governors of the Federal Reserve System will cease publication of the M3 monetary aggregate. The Board will also cease publishing the following components: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release. Measures of large-denomination time deposits will continue to be published by the Board in the Flow of Funds Accounts (Z.1 release) on a quarterly basis and in the H.8 release on a weekly basis (for commercial banks). Last update: November 10, 2005 ============================================== In a nutshell, here are my thoughts: 1. The twelve federal reserve banks -- that together run the bank clearing and currency system -- are privately owned. If you call them up and write to them -- as I once did-- and ask who owns them, who manages their data and whether or not their owners have access to their data, you will be told that this is private information. Fed bank data is arguably the most valuable databank in the world. 2. The flagship Federal Reserve bank is the NY Fed. The NY Fed is the depository for the US government and manager of a powerful slush fund -- the Exchange Stabilization Fund. 3. Significant efforts have been made to ensure that citizens do not have easy access to data about how all the government revenues and expenditures, credit and regulations work within the areas from which they vote for political representation. In short, you do not get annual financial statements that document the most basic government financial performance within your Congressional District. This means you have no basis for assessing performance or providing for citizen based accountability. 4. What 1-3 in combination mean is that corporate profits and stock, mortgage and bond markets (and other capital markets) can be invisibly rigged using taxpayer funded and backed resources in the form of government contracts, subsidies, asset sales and transers, tax benefits, credit guarantees and market intervention and manipulation -- all in a manner that perpetually increases the wealth of a few insiders and drains the many outsiders. This process steadily lowers overall productivity by switching power and money from the productive to the unproductive. 5. There is over $4 trillion missing from US government agencies that we know about-- this is $14,000 per US resident -- who knows how much is missing in total. This disappearance was financed by presumably trillions in debt securities for which the US government and government agencies are liable. As total debt outstanding explodes, it becomes more and more challenging to refinance outstanding debt let alone issue more. Grossly oversimplified, our financial dependency on other nations channeling greater and greater amounts of their total retirement savings to financing our military expeditions and consumer purchases of their manufacturing output becomes ever more politically sensitive. 6. The way to keep the game going is for the Federal Reserve system to simply buy increasing amounts of debt issued by the US government and for the US Treasury and Congress to use the proceeds to protect "insiders" from the resulting inflation while squeezing everyone else while the NY Fed manages market interventions that help do the same. 7. The cancellation of M3 helps accomplish #6 by cancelling some of the statistics (particularly on "repos") that would help market analysts see what is going on. 8. The Federal Reserve's explanation that this is a cost cutting move does not compute given the nature of the Federal Reserves rich resources and the importance of transparency to the functioning of markets. 9. In short, a small group of people continue to use US government debt to finance a war machine to build and consolidate global empire and to use inside information along with the US government budget and credit machines to ensure that this war machine is richly profitable for them and their global allies while draining and depopulating everyone and everything else. 10. The cancellation of m3 is Tapeworm Economics at its best. For some useful pieces on the M3 cancellation, see: http://www.solariactionnetwork.com/phpBB2/viewtopic.php?t=3060&highlight= Please do post links to any additional articles and blog comment you recommend. For more recomended reading on the US banking system and actions you can take to do something about this, see Solari Audio Seminar: Where Would Jesus Bank? http://en.wikipedia.org/wiki/Federal_Reserve
TO THE SOLARI ACTION NETWORK November 25, 2005 A Note from Catherine on the Fed's Cancellation of M3 I have been asked by several network members to comment on the cancellation by the Federal Reserve of the publication of its broadest series of aggregate monetary statistics, known as "M3." ======================================== http://www.federalreserve.gov/releases/h6/discm3.htm Discontinuance of M3 On March 23, 2006, the Board of Governors of the Federal Reserve System will cease publication of the M3 monetary aggregate. The Board will also cease publishing the following components: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release. Measures of large-denomination time deposits will continue to be published by the Board in the Flow of Funds Accounts (Z.1 release) on a quarterly basis and in the H.8 release on a weekly basis (for commercial banks). Last update: November 10, 2005 ============================================== In a nutshell, here are my thoughts: 1. The twelve federal reserve banks -- that together run the bank clearing and currency system -- are privately owned. If you call them up and write to them -- as I once did-- and ask who owns them, who manages their data and whether or not their owners have access to their data, you will be told that this is private information. Fed bank data is arguably the most valuable databank in the world. 2. The flagship Federal Reserve bank is the NY Fed. The NY Fed is the depository for the US government and manager of a powerful slush fund -- the Exchange Stabilization Fund. 3. Significant efforts have been made to ensure that citizens do not have easy access to data about how all the government revenues and expenditures, credit and regulations work within the areas from which they vote for political representation. In short, you do not get annual financial statements that document the most basic government financial performance within your Congressional District. This means you have no basis for assessing performance or providing for citizen based accountability. 4. What 1-3 in combination mean is that corporate profits and stock, mortgage and bond markets (and other capital markets) can be invisibly rigged using taxpayer funded and backed resources in the form of government contracts, subsidies, asset sales and transers, tax benefits, credit guarantees and market intervention and manipulation -- all in a manner that perpetually increases the wealth of a few insiders and drains the many outsiders. This process steadily lowers overall productivity by switching power and money from the productive to the unproductive. 5. There is over $4 trillion missing from US government agencies that we know about-- this is $14,000 per US resident -- who knows how much is missing in total. This disappearance was financed by presumably trillions in debt securities for which the US government and government agencies are liable. As total debt outstanding explodes, it becomes more and more challenging to refinance outstanding debt let alone issue more. Grossly oversimplified, our financial dependency on other nations channeling greater and greater amounts of their total retirement savings to financing our military expeditions and consumer purchases of their manufacturing output becomes ever more politically sensitive. 6. The way to keep the game going is for the Federal Reserve system to simply buy increasing amounts of debt issued by the US government and for the US Treasury and Congress to use the proceeds to protect "insiders" from the resulting inflation while squeezing everyone else while the NY Fed manages market interventions that help do the same. 7. The cancellation of M3 helps accomplish #6 by cancelling some of the statistics (particularly on "repos") that would help market analysts see what is going on. 8. The Federal Reserve's explanation that this is a cost cutting move does not compute given the nature of the Federal Reserves rich resources and the importance of transparency to the functioning of markets. 9. In short, a small group of people continue to use US government debt to finance a war machine to build and consolidate global empire and to use inside information along with the US government budget and credit machines to ensure that this war machine is richly profitable for them and their global allies while draining and depopulating everyone and everything else. 10. The cancellation of m3 is Tapeworm Economics at its best. For some useful pieces on the M3 cancellation, see: http://www.solariactionnetwork.com/phpBB2/viewtopic.php?t=3060&highlight= Please do post links to any additional articles and blog comment you recommend. For more recomended reading on the US banking system and actions you can take to do something about this, see Solari Audio Seminar: Where Would Jesus Bank? http://en.wikipedia.org/wiki/Federal_Reserve
75/85 on 5th Street Bridge, facing South
The weather this Thanksgiving evening was so beautiful. I took advantage of the construction going on on this bridge, and crept out on the wood construction platform over the interstate. There was a cool breeze. Beside the cars on the highway, everything else around me was deserted.
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