(Infowars) – Almost two years ago the US Treasury was selling large amounts of short-term Treasury bills to fund bailouts and stimulus. That caused a major increase in debt. Most of that paper was 2-year bills and it is coming due for rollover shortly. While that transpires, October will report the annual fiscal deficit of 9/30/10 of about $1.5 trillion, a figure thought impossible just 1-1/2 to 2 years ago. Read the rest of this entry »

(Infowars) – The United States is running out of time to get its budget and trade deficits under control.  Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery.  As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”

As John Williams (shadowstats.com) has made clear on many occasions, an appearance of recovery was created by over-counting employment and undercounting inflation. Warnings by Williams, Gerald Celente, and myself have gone unheeded, but our warnings recently had echoes from Boston University professor Laurence Kotlikoff and from David Stockman, who excoriated the Republican Party for becoming big-spending Democrats Read the rest of this entry »

Alex talks with economist Paul Craig Roberts about his article, The Year America Dissolved. Roberts served as an Assistant Secretary of the Treasury in the Reagan Administration and is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. His articles appear widely across the alternative media. Dr. Roberts’ latest book is How the Economy Was Lost: The War of the Worlds. Read the rest of this entry »

(SteveWatson) – Several more autocratic international voices have added their weight behind proposals to vastly empower the EU with greater authority to govern over nation states in Europe, in the wake of the sovereign debt crisis. Meanwhile, one leading commentator has described the move as “fiscal fascism”. Read the rest of this entry »

(ZeroHedge) – It couldn’t have happened to a nicer country. On March 18, with very little pomp and circumstance, president Obama passed the most recent stimulus act, the $17.5 billion Hiring Incentives to Restore Employment Act (H.R. 2487), brilliantly goalseeked by the administration’s millionaire cronies to abbreviate as HIRE. As it was merely the latest in an endless stream of acts destined to expand the government payroll to infinity, nobody cared about it, or actually read it. Because if anyone had read it, the act would have been known as the Capital Controls Act, as one of the lesser, but infinitely more important provisions on page 27, known as Offset Provisions – Subtitle A—Foreign Account Tax Compliance, institutes just that. In brief, the Provision requires that foreign banks not only withhold 30% of all outgoing capital flows (likely remitting the collection promptly back to the US Treasury) but also disclose the full details of non-exempt account-holders to the US and the IRS. And should this provision be deemed illegal by a given foreign nation’s domestic laws (think Switzerland), well the foreign financial institution is required to close the account. It’s the law. If you thought you could move your capital to the non-sequestration safety of non-US financial institutions, sorry you lose – the law now says so. Capital Controls are now here and are now fully enforced by the law.

Let’s parse through the just passed law, which has been mentioned by exactly zero mainstream media outlets.

Here is the default new state of capital outflows: Read More Here

(ZeroHedge) – It couldn’t have happened to a nicer country. On March 18, with very little pomp and circumstance, president Obama passed the most recent stimulus act, the $17.5 billion Hiring Incentives to Restore Employment Act (H.R. 2487), brilliantly goalseeked by the administration’s millionaire cronies to abbreviate as HIRE. As it was merely the latest in an endless stream of acts destined to expand the government payroll to infinity, nobody cared about it, or actually read it. Because if anyone had read it, the act would have been known as the Capital Controls Act, as one of the lesser, but infinitely more important provisions on page 27, known as Offset Provisions – Subtitle A—Foreign Account Tax Compliance, institutes just that. In brief, the Provision requires that foreign banks not only withhold 30% of all outgoing capital flows (likely remitting the collection promptly back to the US Treasury) but also disclose the full details of non-exempt account-holders to the US and the IRS. And should this provision be deemed illegal by a given foreign nation’s domestic laws (think Switzerland), well the foreign financial institution is required to close the account. It’s the law. If you thought you could move your capital to the non-sequestration safety of non-US financial institutions, sorry you lose – the law now says so. Capital Controls are now here and are now fully enforced by the law.

Let’s parse through the just passed law, which has been mentioned by exactly zero mainstream media outlets.

Here is the default new state of capital outflows: Read More Here

(GaryFranchi) – Historic Bailout Trial 3/11/10 with opening arguments by Bob Schulz of the We the People Foundation will commence tomorrow. All patriots are needed to attend to witness and document this case. The constitutionality of the robbery of the Treasury of the United States by the criminal Wall Street Bankers hangs in the balance. SPREAD THE WORD! Read the rest of this entry »

(AaronDykes) – Treasury Secretary Tim Geithner made an appearance alongside IRS Commissioner Doug Shulman at the Joe Stack crash site in Austin, Texas. Their purpose was straightforward– to grandstand over an attack on a government agency and to set the scene for demonizing “anti-government beliefs.” Read the rest of this entry »

Alex welcomes back to the show Paul Craig Roberts, economist and a nationally syndicated columnist who served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the “Father of Reaganomics.” He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. Roberts is the author of The Tyranny of Good Intentions: How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice, and How the Economy Was Lost: The War of the Worlds. Read the rest of this entry »

Hank Paulson, the Gold Sacks bankster/US Treasury Secretary, who deregulated the financial system, caused a world crisis that wrecked the prospects of foreign banks and governments, caused millions of Americans to lose retirement savings, homes, and jobs, and left taxpayers burdened with multi-trillions of dollars of new US debt, is still not in jail. He is writing in the New York Times urging that the mess he caused be fixed by taking away from working Americans the Social Security and Medicare for which they have paid in earmarked taxes all their working lives. Read the rest of this entry »

It’s one of those numbers that’s so unbelievable you have to actually think about it for a while… Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that’s not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That’s an amount equal to nearly 30% of our entire GDP. And we’re the world’s biggest economy. Where will the money come from? Read the rest of this entry »

Rumor has it that Timothy Geithner is on his way out as Treasury Secretary, due to his involvement in the AIG scandal that is now unraveling in hearings before the House Oversight and Reform Committee. Bob Chapman writes in The International Forecaster:

Each day brings more revelations of efforts of the NY Fed and Goldman Sachs to hide the details of the criminal conspiracy of the AIG bailout. . . . This is a real crisis on the scale of Watergate. Corruption at its finest.

Read the rest of this entry »

Rumor has it that Timothy Geithner is on his way out as Treasury Secretary, due to his involvement in the AIG scandal that is now unraveling in hearings before the House Oversight and Reform Committee. Bob Chapman writes in The International Forecaster:

Each day brings more revelations of efforts of the NY Fed and Goldman Sachs to hide the details of the criminal conspiracy of the AIG bailout. . . . This is a real crisis on the scale of Watergate. Corruption at its finest.

Read the rest of this entry »

(Fox) – February 3, 2010 – In this segment, Congressman Ron Paul discusses the corrupt Treasury Department and lots more. Read the rest of this entry »

It’s one of those numbers that’s so unbelievable you have to actually think about it for a while… Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that’s not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That’s an amount equal to nearly 30% of our entire GDP. And we’re the world’s biggest economy. Where will the money come from? Read the rest of this entry »

January 27, 2010 Read the rest of this entry »

(HuffingtonPost) – A key question at the heart of the controversial bailout of AIG is just how much money the government lost. The Federal Reserve and Treasury Department have worked to keep that number secret and to conceal who was on the winning end.
An unredacted document obtained by the Huffington Post shows the damage in detail. Read More Here

(PaulWatson) – Treasury Secretary Timothy Geithner’s denial that he played any role in the AIG cover-up is contradicted by emails which confirm that both Geithner and the New York Federal Reserve were both intimately involved in keeping details about payments to banks including Goldman Sachs from the public. Read the rest of this entry »

(AlterNet) – Barack Obama is a brand. And the Obama brand is designed to make us feel good about our government while corporate overlords loot the Treasury, armies of corporate lobbyists grease the palms of our elected officials, our corporate media diverts us with gossip and trivia, and our imperial wars expand in the Middle East. Brand Obama is about being happy consumers. We are entertained. We feel hopeful. We like our president. We believe he is like us. But like all branded products spun out from the manipulative world of corporate advertising, this product is duping us into doing and supporting a lot of things that are not in our interest. Read More Here

There’s one method that the Federal Reserve has been employing to shovel money to the bank elite that is rarely mentioned, though I hear the sums that have been shoveled are in the billions and they are showing up on the books of firms like Goldman Sachs as pure profit. It’s really pure scam. Read the rest of this entry »

Read the rest of this entry »

(MarketTicker) – In a short conversation this noontime that CNBC apparently has omitted from their archives (Why’s that folks?) Rick Santelli was talking about a potential to effectively force money into the Treasury market.
Where would they get this?
From your 401k and IRA accounts! Read the rest of this entry »

Last week it was revealed that when Treasury Secretary Tim Geithner was Chairman of the New York Federal Reserve, he urged AIG officials not to disclose to the Securities Exchange Commission relevant details of agreements with banks to bail out Goldman Sachs. Apparently he felt at the time that regulators and the public would be angry that taxpayer money was used to fully compensate bankers who made some horrifically bad investment decisions. These banks should have suffered the consequences of the huge risks they were taking. After all, they kept plenty of rewards when times were good. Instead, the Fed found a way to socialize these major losses so these banks could survive and continue making more bad decisions, at the expense of the American people and the value of the dollar. Read the rest of this entry »

(PaulWatson) – Congressman Ron Paul has called for Treasury Secretary Timothy Geithner to be fired for his involvement in the AIG bailout scandal, adding that the fiasco proves the Fed should be stripped of its powers and audited. Read the rest of this entry »

Timothy Geithner is a rising star within the membership of the Trilateral Commission: He is highly educated, has extensive regulatory experience, and is wiling to bend, break or obscure the rules to favor his global elite bosses. Read the rest of this entry »

The ultimate insider, Robert Rubin, who is a former secretary of the Treasury (1995–99) and now serves as co-chairman of the Council on Foreign Relations and is a fellow of the Harvard Corporation, in a Newseek opinion piece had this to say: Read the rest of this entry »

(ZeroHedge) – Some days ago we wondered aloud at the blank check extended to Fannie and Freddie along with the suspiciously convenient timing of those announcements on Christmas Day.  Back then we wondered if we had been told the entire story.  To wit:

So.  Let us summarize: Read the rest of this entry »

Ponzi scheme – a fraudulent investment operation that returns assets to the defrauded from assets they previously loaned to the scheme’s operators or assets paid by subsequent newer “investors” rather than from any actual profit earned
While it is (comparatively) well-known that the US dollar, while a currency, is a solely an instrument of credit issued by the Federal Reserve. All holders of dollars – including myself and most readers of this article – are in debt to the Federal Reserve. Now, this debt is really phantom debt, but the key really is printed on each dollar, more properly known as a Federal Reserve Note: “This note is legal tender for all debts, public and private.” (1) Read the rest of this entry »

(MSNBC) – The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. Read the rest of this entry »

(Fox) – Treasury Department is covering up Goldman Sachs involvement in the housing market collapse.. Read the rest of this entry »

(OmahaWorldHerald) – In an attempt to help avoid sharp tax increases or increase foreign borrowing, Sen. Ben Nelson on Tuesday introduced the U.S. War Bonds Act of 2009. Read the rest of this entry »

It’s one of those numbers that’s so unbelievable you have to actually think about it for a while… Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that’s not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That’s an amount equal to nearly 30% of our entire GDP. And we’re the world’s biggest economy. Where will the money come from? Read the rest of this entry »

The American journey that began on 8/15/71 is going to end over the next several years. The problems that have manifested themselves over the past few years signal the final stages of a destructive process that has stifled production and innovation and encouraged fraud in Wall Street and banking. The injection of money and credit into the financial system via the Fed and the Treasury has almost exclusively benefited the wealthy financial sector and has spread only crumbs to American citizens. Read the rest of this entry »

In this Bloomberg clip, commerce secretary Gary Locke says that “if there is to be another stimulus — and that’s being hotly discussed and very seriously considered within the administration as well as members of Congress – it needs to be very targeted, very specific and we need to be very mindful of the deficit as well. Read the rest of this entry »

The stats and growth prognostications from tout television, New York banksters, our Federal Reserve, U.S. Treasury, and various U.S. Government fiscally incestuous cabal members are replete with liars, exaggerators, and crooked politicians. The U.S. Government and several others are economically dead; they just haven’t admitted it yet. Read the rest of this entry »

While this isn’t news to readers of the WAB, it is confirmation of my extensive analysis throughout the crisis last fall. Henry Blodget and Bloomberg News get it mostly right, but they still shy away from exposing the wider outright conspiracy that exists between the US Treasury and the Federal Reserve. Read the rest of this entry »

(CounterThink) – While the White House is celebrating a 3.5% reported growth in GDP last quarter — the first economic growth in a year — they conveniently forget the simple fact that it’s easy to fake economic growth with debt spending. Read the rest of this entry »

(CSPAN) – Oct 29, 2009 – On Thursday, Congressman Paul questioned Treasury Secretary Timothy Geithner at a House Financial Services Committee meeting on financial regulations. Read the rest of this entry »

(Bloomberg) – Marc Faber, publisher of the Gloom, Boom & Doom Report, appeared on Bloomberg today, expanding his view on the inflation/deflation, strong and weak US dollar debate. According to him, the losers will be cash and treasury bond and the winners will be foreign currency and commodities. Equities have some power to hedge inflation. Read the rest of this entry »

Last week, I showed you the most shocking numbers I’ve seen in my lifetime: Read the rest of this entry »

Many Americans have a hard time wrapping their mind around a declining currency or the hidden tax that is inflation.  The U.S. Treasury and Federal Reserve understands this and for decades has exploited this issue to slowly siphon off the buying power of the U.S. dollar. Read the rest of this entry »

(HuffingtonPost) – The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall U.S. economy, a watchdog report said Monday. Read the rest of this entry »

One hard lesson we should have learned after Wall Street’s collapse and the government’s handling of the bailout is that there is no reason, whatsoever, for us to sacrifice our good faith and trust in former bankers who now run the Treasury and Federal Reserve. And now as the flu season gets ready to kick off amidst much fanfare and predictions of doom due to a new H1N1 influenza virus, there is emerging sufficient information to raise very serious doubts whether our nation’s health authorities are truly serving the public health instead of commercial interests. Read the rest of this entry »

(BobChapman) – Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms. Read the rest of this entry »

Bloomberg reports that Treasury Secretary Timothy Geithner’s closest aides earned millions of dollars a year working for Goldman Sachs, Citigroup and other Wall Street firms. Bloomberg reports that none of these aides faced Senate confirmation. Yet, they are overseeing the handout of hundreds of billions of dollars of taxpayer funds to their former employers. Read the rest of this entry »