- We are being taught to hate…
- Big oil
- Wall Street
- Fast Food
- Freeze Tag
- There are villains everywhere. But not everyone in the above groups is a villain.
- Also, if there are bad guys in these groups, why are we not prosecuting them?
- The Progressive ideal is to have one of everything – a single health care system, a single bank, etc.
- The Federal Reserve is the biggest bank of them all.
- It’s not part of the government.
- But, no one is picketing the Fed
- Why is that?
- Progressives refer to bankers as “greedy fat cats”.
- He showed a video clip of Representative Sheila Jackson Lee calling out fat cats, and Vice President Joe Biden quoted as saying…
“This orgy of focusing on the super wealthy and Wall Street without regulations, the very people who drove us into this ditch…”
- Hedge Funds are not regulated.
- The largest theft in history is the theft of your savings, your 401(K).
- What is going on Makes Bernie Madoff look like small potatoes.
- Glenn compares what is going on today with the movie “It’s a Wonderful Life”.
- Banker: Mr Potter - Banker: Ben Bernanke (Fed Banker)
- Wants to help - Wants to help
- Willing to bail out the - Willing to bail US banks out.
Building and Loan
- Townspeople lose money - Citizens lose money because of “help”.
because of his help.
- Goal: Control of town. - Goal: ? (You decide)
· In the movie, people panicked. Mr Potter offered 50 cents on the dollar.
· Mr. Potter was collapsing the Building and Loan for his own gain, but he was hailed for “saving the day”.
· Glenn notes that the various government bailouts aren’t solving the problem.
· QE 1
· QE 2
· But the government keeps doing it. Why?
· Is it because…
o They are stupid
o They are insane
o Somebody is making a lot of money
· Glenn then showed a chart of the dollar and oil prices. The lines are almost a mirror image.
o The price of oil is pegged to the dollar.
o The price of gas isn’t going up, the value of the dollar is falling.
· Everything in the world is measured against the dollar.
· Who is controlling the value of the dollar? Ben Bernanke.
· How has the stock market stayed up?
· He showed a chart of the stock market from 2010 until today.
· There was a decline in 2010 when QE 1 ended.
· Then QE 2 was announced and the market improved.
· But QE 2 will end in June and people are talking about a 20% drop in the market.
· How low can the dollar go?
o In the last eight years, the dollar has lost 21.4%
o Its now worth 79 cents.
· Glenn said that when he encouraged people to buy gold, he was called crazy.
o He held up a copy of the New York Times, Business Day Page that said “Prices Surge as Investors Rush to Safety of Gold.
o Now, gold is a place for safety.
· George Soros bought gold. The University of Texas just bought $1 billion of physical gold.
· The largest holders of gold…
3. The IMF
1. The U.S.
· Congressmen Ron Paul and Jason Chaffetz have requested to see the gold at Ft Knox, but have not been allowed to.
· 22% of all the world’s physical gold is at the Federal Reserve in lower Manhattan.
- The government is not helping the small businessmen. They are only helping large corporations.
- Things are changing…
- Netflix just entered a deal with Kevin Spacy for 26 episodes of a new show for $200 million.
- No network is involved.
- They aren’t telling you to prepare because they are preparing a system where you have to come to them.
- They should stop talking about “greedy” bankers and name specific people…
- George Soros worth $14.5 billion
- Nancy Pelosi worth $21.7 million
- Timothy Geithner worth $1.7 million (up to)
- Glenn asks “Mr. President, can you name specific people and set the Justice Department on them?”
- The Fed is the most important company in the world and nobody knows about them. Next Wednesday the Fed will have the first press conference in 97 years.
- The new regulatory reform is structured to control you, not them.
- We had 200 years to get away from central control and we are re-inventing it all over again.
- The book “New Deal or Raw Deal how big business used FDR’s NRA code to destroy small businesses.” (http://www.amazon.com/New-Deal-Raw-Economic-Damaged/dp/1416592377/ref=sr_1_1?s=books&ie=UTF8&qid=1303689061&sr=1-1 )
- GE made a large amount of profit but paid no taxes because they helped write the tax code.