Published on Intrepid Report, by Jerry Mazza, Sept. 28, 2012;
Recently, one of a series of pitchmen trying to sell their financial products to me proposed Exchange Traded Funds (ETFs) that will make more dollars the more the US dollar goes down in value.
As to the reasons dollars are devaluating, like most economists, Mr. Pitchman neglected to mention the Dracula-like drain on our resources of the U.S. Armed Forces, DOD and Pentagon.
They support more than 1,000 military bases around the world and more than a quarter of a million military personnel. This is to continue an unending series of wars and CIA-created conflicts that perpetually keep us losing money and blood.
In fact, the US government has been fighting wars/conflicts throughout my 74 years. Even during the so-called salad years of the 50s and early 60s, there were US troops in Europe to prevent the bugaboos of Socialism and Communism from taking hold amongst poor farmers and working classes. So this part of the economy’s devaluation is basically political, an American Crusade for hegemony or empire building, which is always very costly. Ask the Romans, the Brits, Genghis Khan, Kublai Khan, et al.
Also, this Neocon Crusade was started on 9/11 when purportedly a handful of Muslims with box-cutters, who could barely fly Cessnas, crashed airliners into and brought down the WTC Towers 1 and 2. Their leader, purportedly living in a cave between Afghanistan and Pakistan, was a man with a serious kidney condition, on dialysis, and known as late as August of 2001 to be in treatment in the American Hospital in Dubai, where his CIA handler spoke with him.
This false-flag attack gave the neocons the permission to create a second Pearl Harbor, a false-flag attack for The War on Terror, first against Afghanistan in search of Bin Laden, the poster boy of neocon Republican faux wrath against Muslims.
Though FDR did have prior notice of Japan’s plan to attack us, he ignored it so that he could marshal the then pacifist American people to confront Hitler on his march through Europe, then Britain and perhaps to the US next. Yet the notion that this bumbling band of 19 Muslims could bring down a $70 billion intelligence capability, plus NORAD, which got nary a plane in the air in the two hours of the operation, is a dead giveaway of a larger US government conspiracy. Also, there is evidence that the Israeli Mossad stood to gain greatly for participating in this false-flag attack as well as the Saudi Royals, both of whom feared the Muslim street. Again, this is all political.
Part two of the dollar’s devaluation: … //
… The Federal Open Market Committee FOMC is the monetary policymaking body of the Federal Reserve System. The FOMC is composed of 12 members—the seven members of the Board of Governors and five of the 12 Reserve Bank presidents. The Chairman of the Board of Governors serves as the Chairman of the FOMC; the president of the Federal Reserve Bank of New York is a permanent member of the Committee and serves as the Vice Chairman of the Committee.
“The presidents of the other Reserve Banks fill the remaining four voting positions on the FOMC on a rotating basis. All of the Reserve Bank presidents, including those who are not voting members, attend FOMC meetings, participate in the discussions, and contribute to the assessment of the economy and policy options. The FOMC oversees open market operations, which is the main tool used by the Federal Reserve to influence money market conditions and the growth of money and credit. The FOMC also authorizes currency swaps and large-scale asset purchases.”
I should add, none of the authorities are a formal part of the federal government or elected by the people.
Thus, the US government should take control of its own currency and conceivably lower interest rates and print its own money. This would save the US government a great deal of money. Lincoln printed a Greenback after the Civil War to pay down its debt with great success. It’s probably the reason he was shot. In more recent times, JFK wanted to use his constitutional right to coin silver as a peg for the dollar. He too was murdered.
So, politics became intertwined with the military to create the military-industrial-complex, so named by President Eisenhower post WW II. Eisenhower warned that the military-industrial-complex was a dangerous enterprise, which would take part in fomenting wars for profit, just as it ramped up the Vietnam War for profit. For instance, President Johnson claimed our ships had been attacked in the Gulf of Tonkin, which proved, after hostilities were expanded exponentially, to be totally false.
Returning to the parasitic Fed and Mr. Pitchman . . . What the dollar really is pegged to, though some call it a fiat currency, is that same money-guzzling military I’ve been speaking of. People fear us all over the world. Fear is a powerful peg. To have the world’s superpower unhappy with you is not a good thing. That fear in a perverse way is as good as gold, and will last as long as we wish to hold onto an empire, and the temple of the Fed, full of usurers and money lenders, stealing with impunity from our Treasury.
Additionally, the Fed supplied money for the Bolsheviks as well as WWI and II. War is great for making money, as John D. Rockefeller and J.P. Morgan realized. Old men make them, young men fight them. Thus, stopping the dollar’s fall is another reason we should dismember the military-industrial-complex. Second, get rid of the Fed and its Federal Reserve notes as a currency. The Fed has a usurious stranglehold on it. The tip of its dollar’s pyramid is a large eye ever looking for opportunity. We would create a new Greenback based on the power of the US government. Make it of gold and silver and an index of consumer goods.
This surplus of capital for investment that would be generated would help to create industry and infrastructure and to restore the millions of jobs lost to India and China (where GM is now producing and selling Cadillacs and Chevies), and bring those jobs back to America. Fire GM’s top brass for selling out America, the same nation that bailed GM out of bankruptcy. We should be leaders not followers in production and manufacturing. Let them know, as FDR did, that we mean business.
BTW, Mr. Pitchman, the two depressions that you spoke of in FDR’s time, the one in 1933 and the one in 1937: From 1929 to 1933, FDR was harshly and continuously criticized by Republicans for pouring as much money as he did into building infrastructure, even though it produced jobs and the economy was beginning to improve. His decision under pressure to spend less and the subsequent decline in job growth contributed to the 1937 depression. Ironically, it was World War II that brought us through the end of the Great Depression, with jobs to spare for all.
In any case, I hope you recognize yourself in this piece, Mr. Pitchman. After listening to your presentation, I found that making more money by betting on further declines in the value of the dollar is obscenely unpatriotic. Still, it never hurts to ask, right? It’s just business—and a sign of the profligacy of today’s financial industry.
(Jerry Mazza is a freelance writer and life-long resident of New York City. An EBook version of his book of poems “State Of Shock,” on 9/11 and its after effects is now available at Amazon.com and Barnesandnoble.com. He has also written hundreds of articles on politics and government as Associate Editor of Intrepid Report (formerly Online Journal). Reach him here).
Link: Video: Egypt Must Reclaim Non-Aligned Legacy, 4.06 min, on Global Research TV, by Rick Rozoff, September 27, 2012.