Stealing European American Wealth & Incomes

Posted by Guest Blogger on Saturday, 06 June 2009 23:29.

by Donald Miller

The collapse of the Obama spending machine has a long way to go yet, especially with regard to pilfering the earnings and savings of European Americans. There are many ways Obama & Bernanke can confiscate your income and wealth to establish a multiracial nation.

GREAT GOLD CONFISCATION

To understand some of this, it may be necessary for you to review the history of the great gold confiscation of 1933:

The Gold Confiscation Of April 5, 1933
From: President of the United States Franklin Delano Roosevelt
To: The United States Congress
Dated: 5 April, 1933
Presidential Executive Order 6102

Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled

An Act to provide relief in the existing national emergency in banking, and for other purposes~’,

in which amendatory Act Congress declared that a serious emergency exists,

I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of the order:

Section 1. For the purpose of this regulation, the term ‘hoarding” means the withdrawal and withholding of gold coin, gold bullion, and gold certificates from the recognized and customary channels of trade. The term “person” means any individual, partnership, association or corporation.

Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following ...

RAPID INFLATION NOT SUITABLE

There are fundamentally only three ways to repay the Obama-Bernanke indebtedness—I disregard massive inflation because it would take too long to be effective and, if it happened too quickly, we’d begin to understand the Weimar Republic (1919-1933) really well and up close:

The Weimar Republic had some of the most serious economic problems ever experienced by any Western democracy in history. Rampant hyperinflation, massive unemployment and a large drop in living standards were primary factors. In 1923–1929 there was a short period of economic recovery, but the Great Depression of the 1930s led to a worldwide recession. Germany was particularly affected because it depended heavily on American loans. In 1926, about 2 million Germans were unemployed - this rose to around 6 million in 1932. Many blamed the Weimar Republic. This was made apparent when political parties on both right and left wanting to disband the Republic altogether made any democratic majority in Parliament impossible.

(1) CONFISCATE VALUE OF TAX-DEFERRED ACCOUNTS

The federal government could claim a partial ownership interest in the trillions of dollars locked up in tax-deferred accounts. It could make such a claim on either of two notions, an overriding interest in speeding up the velocity of money, or that it has a shared ownership of the money in a tax-deferred account based on the tax-deferral feature itself—something like the user of an easement claiming an interest in the entire property traversed by the easement user.

It wouldn’t be hard to get bank compliance, they would just be required to transfer the electronic cash in your tax-deferred account to the Treasury and have an appropriately valued Treasury note electronically inserted in the place of the electronic cash. Thus your tax-deferred account would be converted from an asset of yours to a debt instrument masquerading as a new asset.

(2) CONFISCATE VALUE OF ALL EXTRACTED MATERIALS

The federal government could claim a larger or total ownership interest in all natural resources and extracted materials like wood, water, minerals, oil, thermal energies, marble, sand, coal, and so on. A plausible case could be easily made that ownership of all extracted materials is the property of the federal government—that would be a flip of the power to tax or license extractions in a big way.

(3) CONFISCATE MORTGAGE VALUE OF ALL OR SOME REAL PROPERTY

The federal government could claim a larger interest in all or some real property (land, houses, factories, malls, and so on) as something it could mortgage to foreign countries’ financial institutions (China, Japan, etc.) or huge domestic financial institutions. This could generate a lot of new cash if the promise was ownership free and clear of certain classes of American real property—a no-risk situation if there ever was one—in the event of default.

In a sense, the Kelo decision by the USSC a couple of years ago paved the way for such a mortgaging project by marrying it to a species of eminent domain.

Kelo v. City of New London, 545 U.S. 469 (2005) was a case decided by the Supreme Court of the United States involving the use of eminent domain to transfer land from one private owner to another to further economic development. The case arose from the condemnation by New London, Connecticut, of privately owned real property so that it could be used as part of a comprehensive redevelopment plan. The Court held in a 5-4 decision that the general benefits a community enjoyed from economic growth qualified such redevelopment plans as a permissible “public use” under the Takings Clause of the Fifth Amendment.

The decision was widely criticized. Many of the public viewed the outcome as a gross violation of property rights and as a misinterpretation of the Fifth Amendment, the consequence of which would be to benefit large corporations at the expense of individual homeowners and local communities. Some in the legal profession construe the public’s outrage as being directed not at the interpretation of legal principles involved in the case, but at the broad moral principles of the general outcome.

Pleasant dreams in our brave new world.

Tags: U.S. Politics

Comments:

Posted by Desmond Jones on Sun, 07 Jun 2009 00:19 | #

Martin Hutchinson pointed to disturbing parallels between current government monetary policy and Weimar Germany’s, when 50% of government spending was being funded by seigniorage – merely printing money.2
In Britain, the Bank of England (BOE) is buying 75 billion pounds of gilts [the British equivalent of U.S. Treasury bonds] over three months. That’s 300 billion pounds per annum, 65% of British government spending of 454 billion pounds. Thus, while the United States is approaching Weimar German policy (50% of spending) quite rapidly, Britain has already overtaken it!”

The reason the British are not pushing about wheelbarrows full of pounds, apparently, is that the mark, in Weimar Germany, was being shorted.

What actually drove the wartime inflation into hyperinflation, said Schacht, was speculation by foreign investors, who would bet on the mark’s decreasing value by selling it short.

http://www.webofdebt.com/articles/hyperinflation.php

THE TEQUILA TRAP:
THE REAL STORY BEHIND
THE ILLEGAL ALIEN INVASION

http://www.webofdebt.com/excerpts/chapter-22.php

Posted by White Preservationist on Sun, 07 Jun 2009 01:52 | #

Regarding the confiscation of ‘precious’ metals by the government (I’m not a proponent of their use or preciousness but I can understand why some people are in these unstable economic times), this recently happened in my area; the story:

“Millions in gold, silver taken in raid of Charlotte firm”

By Glenn Counts
NewsChannel 36
Posted: Saturday, May. 30, 2009

Gold, there is nothing like it and some people can’t get enough.

“The guy had to do a lifting procedure, that’s how heavy these little boxes was”, says Valerie Henderson, who works across the hall from Queen Shoals Investments.

Little did she or any of the other people who work at the Mallard Creek Center Office Building realize that $1.9 million worth of gold and silver bullion and coins was sitting under their noses.

They found out Thursday when police and State Bureau of Investigation agents raided the office and started hauling out the gold.

“You see the handcuffs and the guns and they are pounding on the doors and they’re going ‘Open up, this is the police!” said Paula Covert, an office worker in the building.

The owners of Queen Shoals are Sidney and Charlotte Hanson.

Despite sitting on a fortune in gold, they live in a modest $250,000 west Charlotte home.

The Secretary of State has accused them of selling securities without a license and selling unregistered securities. [millions in gold/silver was confiscated from them for this relatively minor offense while at the same time hundreds of confirmed Wall Street crooks remain totally free despite all of the economic damage they’ve done?....hmmmmm]

No one came to the door when we knocked.

Agents say numerous complaints sparked their investigation. [so now mere “complaints” are enough of a reason for the government to confiscate millions of dollars of gold/silver from people?]

Queen Shoals promised returns of 12 percent to 23 percent annually.

None of office’s workers we talked to were familiar with the claims.

But now that they know about the gold and the workers say it explains some things that they thought were odd.

“They ran their office differently from what we did because when she would leave the door would be locked like when she went to the ladies room,” says Covert.

The Hansons have not been charged or arrested. [note that they were not charged or arrested, yet the government still confiscated loads of gold/silver from them despite this]

They have been ordered to stop selling securities. Agents took documents out of their office Thursday, so the charges might come later.

- http://www.charlotteobserver.com/597/story/754502.html

Posted by Babyriz on Sun, 07 Jun 2009 08:16 | #

I agree to those policies which government implies. this for the benefit of the whole notion, this is also to ensure the security of Bank owned property
. The republic is just trying to retrieve what was been staled form them.

Posted by J Richards on Sun, 07 Jun 2009 11:59 | #

<h2>Obama spending machine?</h2>

Bad phrasing. Obama does what his handlers ask him to do. Beware of people blaming Obama for financial trouble.

<h2>Only one way to pay the ‘Obama-Bernanke’ indebtedness</h2>

Donald Miller says there are fundamentally only three ways to repay the ‘Obama-Bernanke’ indebtedness. None of his solutions will work. Let’s see why.

The projected deficit for the current budget year is approximately $2 trillion. To make up for this deficit, the Treasury will sell bonds (IOUs) to the public. 10% of these or $200 million worth of bonds will be purchased by the New York Federal Reserve by money it creates out of nothing. The Fed will then transfer this $200 million to banks throughout the United States. These banks will lend 9 times this money or $1.8 trillion, at interest, again creating money out of nothing. The initial $200 million created by the Fed + $1.8 trillion created by other banks will take care of the $2 trillion budget deficit. The process of this money creation will be incremental to prevent a sudden expansion in the money supply. When banks get the initial $200 million, they’ll loan 90% of this amount, i.e., $180 million, which’ll be ending up in banks somehow or the other. Banks will then lend 90% of the $180 million, and so on.

Desmond Jones mentioned the Bank of England (BOE) buying 75 billion pounds of gilts. The Bank of England is the equivalent of the Federal Reserve in the United States. The BOE, like the Fed, will pay for it by creating money out of nothing, and it’ll be owed this money and the interest on it.

This money creation as debt, out of nothing, has been going on in the U.S. since the Federal Reserve Act was passed in 1913. When bankers get to create money out of nothing, as debt, and charge interest on it, it’s impossible to pay the debt we owe them.

The way to pay off the debt is for the Treasury to buy the U.S. debt held by the public with United States notes (debt-free money created by the government), a process that will create neither inflation nor deflation, over a one-year period at the end of which banks will be forbidden from creating money in any form, i.e., banks can only lend a dollar for each dollar they possess.

Note that the Bank of England was nationalized a while ago. This was just for show; the bankers remained in control. What we need is nationalization of the money supply.

Posted by Desmond Jones on Sun, 07 Jun 2009 20:39 | #

JR, A return to Lincoln’s civil war greenbacks?

Posted by danielj on Sun, 07 Jun 2009 20:57 | #

When bankers get to create money out of nothing, as debt, and charge interest on it, it’s impossible to pay the debt we owe them.

So easy to understand but all I get is blank stares when I explain it to people.

Note that the Bank of England was nationalized a while ago. This was just for show; the bankers remained in control. What we need is nationalization of the money supply.

The Scottish equivalent was as well if I remember correctly.

JR, A return to Lincoln’s civil war greenbacks?

Why do you think he got kilt?

Posted by James Bowery on Mon, 08 Jun 2009 16:10 | #

The economic crisis could have been averted by the simple expedient of passing my proposal to replace taxes on economic activity with a tax on the net liquidation value of assets at the short term treasury rate, and to replace government transfer programs with a citizen’s dividend proposal.

The Federal Reserve is a part of the centralization of wealth and power but it is not the whole story.

Posted by Bill on Sat, 18 Sep 2010 10:53 | #

Heck what do I know about American politics.

Sarah Palin, Glenn Beck and the teapartiers are gearing themselves for the coming November mid term elections. Already I detect a dominant theme running through their election rhetoric.

The dominant theme emerging in their respective speechifying is defining the battle ground of what is tearing America apart, normalness versus un American degeneracy.

I think most white Americans are conservative and consider themselves to be normal common sense people with a sense of what is right. Palin and Beck are beginning to articulate this theme. The American people are recognising and responding in ever increasing numbers.

I think they are on to a winner.

The battle of 21st century politics is finally taking shape, Palin and Beck have hit the mother lode, they are telling the American people that their progressive opponents are the antithesis of what America is all about.

American whites are smelling the coffee.

(IMO) The coming November elections, (as will subsequent elections) are crystallising into the final decisive stage of the battle of 21st century. The hegemony of ideologies, between Progressive cultural Marxism and white Christian civilisation. Normalness versus degeneracy.

Palin for 2012? Game on.

PS. As I write this comment, Pope Benedict is on an official tour of Britain. The Pope is warning people of the West of the dangers of the attacks on them (Christmas) by the progressive movement. But I doubt whether the average punter can crack the coded message.

Posted by Bill on Wed, 22 Dec 2010 10:34 | #

Failure of Economic Happy Talk - Daily Bell - Tuesday, December 21, 2010

Skimming down the comments section I came across this.

2008, the economic charade is fully exposed. No happy retirement, no social security, no Medicare, no 401K. Heck, no jobs. But they do see theft. From the Fed to Wall Street. From the government to the cronies. They conclude there is little to be done about it and how hopeless they truly are, or they don’t want to admit the true ramifications behind the facts of the cronyism-at least not consciously. *Somewhere deep down inside, they know the system does not work for them; it is designed to use them for the benefit of others. They know that what they have been taught over a lifetime is false, but who can easily admit that the lessons of a lifetime were, in fact, some sort of brainwashing? But subconsciously they know it is over, the lessons past along subconsciously from one generation to the next tell them this is so. The only question is when, and exactly how

The above appears is in the comments section and headed ‘Reply from the Daily Bell: Here you go ... (good summary of Dreamtime!):’ @ around 11.47 AM

Much of above (extraction) resonates with my feelings (as I hear the Bell for the last lap of my life, no pun intended,) which I have posted here @MR elsewhere. Having said that, the remainder of the ‘Reply’ is really for American consumption.

http://www.thedailybell.com/1615/Failure-of-Economic-Happy-Talk.html

* My emphasis