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BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve. The fate of a large portion of the country’s corporations has been put in the hands of a megalithic private entity with the private capitalist mandate to make as much money as possible for its owners and investors; and that is what it has proceeded to do.

To most people, if they are familiar with it at all, BlackRock is an asset manager that helps pension funds and retirees manage their savings through “passive” investments that track the stock market. But working behind the scenes, it is much more than that. BlackRock has been called “the most powerful institution in the financial system,” “the most powerful company in the world” and the “secret power.” It is the world’s largest asset manager and “shadow bank,” larger than the world’s largest bank (which is in China), with over $7 trillion in assets under direct management and another $20 trillion managed through its Aladdin risk-monitoring software. BlackRock has also been called “the fourth branch of government” and “almost a shadow government”, but no part of it actually belongs to the government. Despite its size and global power, BlackRock is not even regulated as a “Systemically Important Financial Institution” under the Dodd-Frank Act, thanks to pressure from its CEO Larry Fink, who has long had “cozy” relationships with government officials.

BlackRock’s strategic importance and political weight were evident when four BlackRock executives, led by former Swiss National Bank head Philipp Hildebrand, presented a proposal at the annual meeting of central bankers in Jackson Hole, Wyoming, in August 2019 for an economic reset that was actually put into effect in March 2020. Acknowledging that central bankers were running out of ammunition for controlling the money supply and the economy, the BlackRock group argued that it was time for the central bank to abandon its long-vaunted independence and join monetary policy (the usual province of the central bank) with fiscal policy (the usual province of the legislature). They proposed that the central bank maintain a “Standing Emergency Fiscal Facility” that would be activated when interest rate manipulation was no longer working to avoid deflation. The Facility would be deployed by an “independent expert” appointed by the central bank.

The COVID-19 crisis presented the perfect opportunity to execute this proposal in the US, with BlackRock itself appointed to administer it. In March 2020, it was awarded a no-bid contract under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to deploy a $454 billion slush fund established by the Treasury in partnership with the Federal Reserve. This fund in turn could be leveraged to provide over $4 trillion in Federal Reserve credit. While the public was distracted with protests, riots and lockdowns, BlackRock suddenly emerged from the shadows to become the “fourth branch of government,” managing the controls to the central bank’s print-on-demand fiat money. How did that happen and what are the implications?

Rising from the Shadows

BlackRock was founded in 1988 in partnership with the Blackstone Group, a multinational private equity management firm that would become notorious after the 2008-09 banking crisis for snatching up foreclosed homes at firesale prices and renting them at inflated prices. BlackRock first grew its balance sheet in the 1990s and 2000s by promoting the mortgage-backed securities (MBS) that brought down the economy in 2008. Knowing the MBS business from the inside, it was then put in charge of the Federal Reserve’s “Maiden Lane” facilities. Called “special purpose vehicles,” these were used to buy “toxic” assets (largely unmarketable MBS) from Bear Stearns and American Insurance Group (AIG), something the Fed was not legally allowed to do itself.

BlackRock really made its fortunes, however, in “exchange traded funds” (ETFs). It gained trillions in investable assets after it acquired the iShares series of ETFs in a takeover of Barclays Global Investors in 2009. By 2020, the wildly successful iShares series included over 800 funds and $1.9 trillion in assets under management.

Exchange traded funds are bought and sold like shares but operate as index-tracking funds, passively following specific indices such as the S&P 500, the benchmark index of America’s largest corporations and the index in which most people invest. Today the fast-growing ETF sector controls nearly half of all investments in US stocks, and it is highly concentrated. The sector is dominated by just three giant American asset managers – BlackRock, Vanguard and State Street, the “Big Three” – with BlackRock the clear global leader. By 2017, the Big Three together had become the largest shareholder in almost 90% of S&P 500 firms, including Apple, Microsoft, ExxonMobil, General Electric and Coca-Cola. BlackRock also owns major interests in nearly every mega-bank and in major media.

In March 2020, based on its expertise with the Maiden Lane facilities and its sophisticated Aladdin risk-monitoring software, BlackRock got the job of dispensing Federal Reserve funds through eleven “special purpose vehicles” authorized under the CARES Act. Like the Maiden Lane facilities, these vehicles were designed to allow the Fed, which is legally limited to purchasing safe federally-guaranteed assets, to finance the purchase of riskier assets in the market.

Blackrock Bails Itself Out

The national lockdown left states, cities and local businesses in desperate need of federal government aid. But according to David Dayen in The American Prospect, as of May 30 (the Fed’s last monthly report), the only purchases made under the Fed’s new BlackRock-administered SPVs were ETFs, mainly owned by BlackRock itself. Between May 14 and May 20, about $1.58 billion in ETFs were bought through the Secondary Market Corporate Credit Facility (SMCCF), of which $746 million or about 47% came from BlackRock ETFs. The Fed continued to buy more ETFs after May 20, and investors piled in behind, resulting in huge inflows into BlackRock’s corporate bond ETFs.

In fact, these ETFs needed a bailout; and BlackRock used its very favorable position with the government to get one. The complicated mechanisms and risks underlying ETFs are explained in an April 3 article by business law professor Ryan Clements, who begins his post:

Exchange-Traded Funds (ETFs) are at the heart of the COVID-19 financial crisis . Over forty percent of the trading volume during the mid-March selloff was in ETFs ….

The ETFs were trading well below the value of their underlying bonds, which were dropping like a rock. Some ETFs were failing altogether. The problem was something critics had long warned of: while ETFs are very liquid, trading on demand like stocks, the assets that make up their portfolios are not. When the market drops and investors flee, the ETFs can have trouble coming up with the funds to settle up without trading at a deep discount; and that is what was happening in March.

According to a May 3 article in The National, “The sector was ultimately saved by the US Federal Reserve’s pledge on March 23 to buy investment-grade credit and certain ETFs. This provided the liquidity needed to rescue bonds that had been floundering in a market with no buyers.”

Prof. Clements states that if the Fed had not stepped in, “a ‘doom loop’ could have materialized where continued selling pressure in the ETF market exacerbated a fire-sale in the underlying [bonds], and again vice-versa, in a procyclical pile-on with devastating consequences.” He observes:

There’s an unsettling form of market alchemy that takes place when illiquid, over-the-counter bonds are transformed into instantly liquid ETFs. ETF “liquidity transformation” is now being supported by the government, just like liquidity transformation in mortgage backed securities and shadow banking was supported in 2008.

Working for Whom?

BlackRock got a bailout with no debate in Congress, no “penalty” interest rate of the sort imposed on states and cities borrowing in the Fed’s Municipal Liquidity Facility, no complicated paperwork or waiting in line for scarce Small Business Administration loans, no strings attached. It just quietly bailed itself out.

It might be argued that this bailout was good and necessary, since the market was saved from a disastrous “doom loop,” and so were the pension funds and the savings of millions of investors. Although BlackRock has a controlling interest in all the major corporations in the S&P 500, it professes not to “own” the funds. It just acts as a kind of “custodian” for its investors — or so it claims. But BlackRock and the other Big 3 ETFs vote the corporations’ shares; so from the point of view of management, they are the owners. And as observed in a 2017 article from the University of Amsterdam titled “These Three Firms Own Corporate America,” they vote 90% of the time in favor of management. That means they tend to vote against shareholder initiatives, against labor, and against the public interest. BlackRock is not actually working for us, although we the American people have now become its largest client base.

In a 2018 review titled “Blackrock – The Company That Owns the World”, a multinational research group called Investigate Europe concluded that BlackRock “undermines competition through owning shares in competing companies, blurs boundaries between private capital and government affairs by working closely with regulators, and advocates for privatization of pension schemes in order to channel savings capital into its own funds.”

Daniela Gabor, Professor of Macroeconomics at the University of Western England in Bristol, concluded after following a number of regulatory debates in Brussels that it was no longer the banks that wielded the financial power; it was the asset managers. She said:

We are often told that a manager is there to invest our money for our old age. But it’s much more than that. In my opinion, BlackRock reflects the renunciation of the welfare state. Its rise in power goes hand-in-hand with ongoing structural changes; in finance, but also in the nature of the social contract that unites the citizen and the state.

That these structural changes are planned and deliberate is evident in BlackRock’s August 2019 white paper laying out an economic reset that has now been implemented with BlackRock at the helm.

Public policy is made today in ways that favor the stock market, which is considered the barometer of the economy, although it has little to do with the strength of the real, productive economy. Giant pension and other investment funds largely control the stock market, and the asset managers control the funds. That effectively puts BlackRock, the largest and most influential asset manager, in the driver’s seat in controlling the economy.

As Peter Ewart notes in a May 14 article on BlackRock titled “Foxes in the Henhouse,” today the economic system “is not classical capitalism but rather state monopoly capitalism, where giant enterprises are regularly backstopped with public funds and the boundaries between the state and the financial oligarchy are virtually non-existent.”

If the corporate oligarchs are too big and strategically important to be broken up under the antitrust laws, rather than bailing them out they should be nationalized and put directly into the service of the public. At the very least, BlackRock should be regulated as a too-big-to-fail Systemically Important Financial Institution. Better yet would be to regulate it as a public utility. No private, unelected entity should have the power over the economy that BlackRock has, without a legally enforceable fiduciary duty to wield it in the public interest.

Ellen Brown is an attorney, chair of the Public Banking Institute, and author of thirteen books including Web of Debt, The Public Bank Solution, and Banking on the People: Democratizing Money in the Digital Age. She also co-hosts a radio program on PRN.FM called “It’s Our Money.” Her 300+ blog articles are posted at EllenBrown.com.

 
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  1. Big Daddy says:

    From 1776 to now: TOTAL CORRUPTION!

    Secession is the only answer in my opinion. Are there enough of us to do that option? Or are almost all people sheeple?

  2. @Big Daddy

    I suggest secession of states in groups so none are land-locked. There might be 5 or 6 new independent states, not 50.

    • Agree: Z-man, Old and Grumpy
  3. jadan says:

    ” No private, unelected entity should have the power over the economy that BlackRock has, without a legally enforceable fiduciary duty to wield it in the public interest.”

    In the area of “public/private partnerships”, first and foremost is the Federal Reserve itself which the national government appointed as a subcontractor in 1913 to issue the nation’s currency and control its money supply, functions that properly belong to the Treasury. Now it appears that Blackrock has become a subcontractor to the original Fed subcontractor in order to increase oligarchic/private control in the “partnership” with the public. The function of the Treasury has now been wholly privatized and the control of the national government over the nation’s finances has been taken over by a class of oligarchs.

    Ms Brown frequently calls for nationalization of this or that bank, and now for this shadow bank, this Blackrock parasite, but she never calls for the nationalization of the Federal Reserve itself, which is the root of the problem. Attempts to regulate (“nationalize”) an entity like Blackrock are little more than virtue signalling when it is the Federal Reserve System that betrays the public interest through the simple fact of it existence.

    The Department of the Treasury should be the issuer of the nation’s currency and the means through which the money supply is regulated. Private banks, such as the Fed should never be trusted to carry out this important function. The concept of public/private partnership in the nation’s monetary authority is fraudulent. Government is the sole sovereign authority over the nation’s money supply. Oligarchic control over this republic is only possible because of the failure of the government by and for the people to control the power of money in the public interest.

    The rich do not understand the concept of “public interest” or “public utility”. There is no “legally enforceable fiduciary duty” that will force them to do otherwise. It is just naive to think so, or perhaps, stupid.

  4. Wonder who runs BlackRock? Wonder what his ethnicity is????????

    Lol

  5. To paraphrase a famous line from The Who’s, “Won’t Get Fooled Again”:

    Meet the new Squid, same as the old Squid………

  6. FB says: • Website

    Larry Fink…

    Steven Mnuchin…

    *We’re Fucked*

    • Agree: Moi
    • LOL: Thomasina
  7. @jadan

    The rich do not understand the concept of “public interest” or “public utility”.

    Of course they do. They just don’t care for it.

  8. @Ad70titusrevenge

    Wonder who runs BlackRock?

    FWIW BlackRock’s founder, Eric Prince, is (was) a career military mercenary for hire who is also the brother to Betsy DeVos, prime beneficiary of the Amway fortune (“Greed is Good”).

    Suffice to say that these are the sort of people who view common folk as less than bugs to be scraped off their boots (and to be exterminated if there is any money in it).

  9. Anonymous[493] • Disclaimer says:
    @Ultrafart the Brave

    BlackRock is not Blackwater.

    • Thanks: Ultrafart the Brave
  10. @Ultrafart the Brave

    Dumbass! Prince founded Blackwater Security- all the Black Rock founders a re Jews; Kapito, Fink, etc

    • Thanks: Ultrafart the Brave
  11. Pft says:
    @Ultrafart the Brave

    Black Rock (Larry Fink) is not Black Water (Eric Prince.

    I wonder if there is a Black Fire and Black Air. I know Big Data (Peter Theil) is the new Black Gold (used to be Rockefeller before they went Green and started working on Lock Step/Contact Tracing)

    Well anyways, our economy resembles Mussolini’s Corporatism, some call it Fascism. Protesting it makes us antifa, and a target of Barrs Precrime Program

    Wonder when they roll out the Black Shirts. Or are they Soros BLM?. Come to think of it there were a lot of white Black Shirts at those protests

    Anyways, great article by Ellen Brown

    Lots of preparation for 2020 done last year. Military exercise for Urban warfare in LA in January , Crimson Contagion Exercises January-August, Black Waters White Paper in August, Urban Outbreak in September. Event 201 in October.

    Lets not forget that repo-rate spike in September after Funks White Paper . The overnight lending market relies on four major US banks and their cash reserves, but as the institutions sink more capital into Treasury bills, a smaller proportion of their reserves are available for quick funding. Hedge funds contributed to the squeeze by increasingly using Treasury repos to fund arbitrage trades, the report found. The borrowing leaves less cash on the table for lenders, as money-market funds offering the repos look to gain higher returns from participating hedge funds.
    The dual trends represent structural issues in the overnight lending market and suggest the spike was not a one-off blunder.

    How convenient, no doubt it got support for Funks reset.

    And you know this all is tied in with the push for a Green Economy. Sustainable Development and Trumps 5G/AI push not to mention Barrs Precrime he announced in October, which could probably make use of contract tracing apps. We had Dems and Central Banks and Davis crying out for this. Trumps NSAIC led by Googles Schmidt called for structural changes in society so we could be more like China in implementing AI and Tech and said their social credit system could be used without being abused (lol). Microsoft announced they got the patent for a social credit system in March, Gates resigned from MS board a week later (still holding a pile of stock)

    And did I mention that meeting sponsored by Gates in Africa last summer which was attended by the congressman who sponsored the Trace Act HR 6666. One of Gates representatives was the founder of Partners in Health who recently landed a big job in Massachusetts to run their Contact Tracing program.

    Man, these guys were busy last year while we were sleeping. Some of us still are.

    Keep an eye out for Operation Blackout. Exercises run in January. Basically exercises used Cybereason to simulate cyber attacks that caused power grid disruptions, cancelled elections and led to Martial Law. Apparently our good guys couldn’t stop them. We know these guys like to practice before going live.

    But Trump issued an EO on May 1 to protect the power grid. Now that I think about it there were a lot of blackouts last summer from Venezuela, LA, SF, NYC and London (the last 4 just a few hours). Cyber attacks were blamed by Venezuela (wonder who).

    • Thanks: Ultrafart the Brave
    • Replies: @Parfois1
  12. I used to think the banks were the bad guys of the economy, and that may have been true up to 2008. However, these days the share prices of retail banks like Bank of America seem to be pretty much in line with what is going on in the wider economy. If they are ripping off the general public, then it isn’t through the stock market. Most of the corporate shenanigans these days seems to be in asset management, internet companies and the medical innovation fields. For example, you have investing pundits saying Amazon is still a good investment at extremely high market valuations (sure, Amazon is a good company, but any company is a risky buy at high valuations). That suggests they have inside knowledge that Amazon’s share price may be being propped up by actors that the general public isn’t privy to.

  13. Nepemnr says: • Website

    Those for whom the American economy is a cash cow & a play thing would quite simply never allow nationalization.

  14. @Ultrafart the Brave

    Erik Prince started Blackwater, later called Academi.

    His sister Betsy married into the Amway heirs, DeVos.

    Jazz and James of the Fash the Nation podcast have a lot of information about Larry Fink and his BlackRock: https://youtu.be/QT4EkCLQEeI

    • Thanks: Ultrafart the Brave
  15. Prince was head of Blackwater, not BlackRock.

    • Thanks: Ultrafart the Brave
  16. @Ultrafart the Brave

    I believe you’re mistaking the errand-boys, like Fink, for the money-men, who remain nameless, who call the shots.

    • Agree: anon8383892
    • Replies: @Bubba Wallace
  17. But “Black Rock” is such a charming name. Sounds harmless enough. When you choose a name like that for your bank, it conveys a sense of goodness to the world. Not a Hollywood villain bank name at all.

  18. Parabola says:
    @Ultrafart the Brave

    That’s Blackwater not BlackRock (now called Academi for some reason)

    • Replies: @Ultrafart the Brave
  19. mastodon says:

    There was a vid/docu that showed up on utube about 2 weeks after this mob were given the keys to you and your offsprings savings that went into the “owners” of the group and what things they were up to. From memory one of the 7 was not of the tribe……

    I think when you see this sort of action you begin to understand who is in charge… there is only one paradigm now, make money no matter what…

    This will not end well for any of us and these ignorant arrogant hubristic tossers at the top think they will be able to survive….. hohohoho

    The shortcut is strangely enuff dead now….. it was from an american group with a strange name.

  20. And don’t get us started on Blackstone … #BFM … Black Funds. Matter.

  21. Jews, Jews, and more Jews.

    • Agree: FLgeezer
  22. Someone needs to alert Matt Taibbi at Rolling Stone so he can write an article.

  23. Anonymous[258] • Disclaimer says:
    @jadan

    Yup, another fake leftist. If she won’t go after the Fed, she’s useless.

    BtM

  24. @Ad70titusrevenge

    Big squid. Big meals.

    https://wallstreetonparade.com/?s=blackrock

    Tentacles everywhere. Came from out of nowhere.

  25. Z-man says:

    Whoever they are, Black Rock, Black Water, Black Crap they are all Vampire Squids* and should be targeted.

    *This includes Squids of all denominations.

  26. Emslander says:

    The concept of public/private partnership in the nation’s monetary authority is fraudulent. Government is the sole sovereign authority over the nation’s money supply. Oligarchic control over this republic is only possible because of the failure of the government by and for the people to control the power of money in the public interest.

    So, the solution is to hand over this shadow bank to the government that already failed? I don’t think so.

    Let the Jews and the other bankers keep control of this debt monster. They’re the only ones who know how to keep it going. I sure don’t want queer Matt Gaetz and his “son” in charge. I don’t want any of those queers in Congress in charge. I don’t want Trump in charge. If you’re going to have a financial system that’s become so extended that it’s bigger than all the governments and corporations in the world, let the Jews do it!

  27. The name is pure Jewish Esotiricism. This is the Black Rock of Saturn. Saturn gives us Saturday, the Sabbath.

  28. The covid-19 scam was created to bailout wallstreet and fasten a communist dictatorship on America, coronavirus is a total scam, a psyop delivered by creating fear and hysteria and it is total bullshit, a new world order scam.

  29. onebornfree says: • Website

    You say: “today the economic system “is not classical capitalism but rather state monopoly capitalism, where giant enterprises are regularly backstopped with public funds and the boundaries between the state and the financial oligarchy are virtually non-existent.”

    But then you say: “BlackRock should be regulated as a too-big-to-fail Systemically Important Financial Institution. Better yet would be to regulate it as a public utility. No private, unelected entity should have the power over the economy that BlackRock has, without a legally enforceable fiduciary duty to wield it in the public interest.”

    So state monopoly is wrong in the first instance [“state monopoly capitalism”] – hint: “state monopoly capitalism” is not capitalism at all, its fascism.

    But then, in glorious contradiction, you call for the state to now regulate what you mistakenly believe is an unregulated “free market” inc. called Blackrock, which would only result in yet more of the very thing you opposed in the previous paragraph [ i.e “state monopoly capitalism”- or fascism].

    This just in: there are no government solutions. Government solutions to _any_ problem simply never work [except to further enrich those in government and its closely allied sycophants, such as Blackrock].

    See: “Why Government Doesn’t Work”
    https://wiki.mises.org/wiki/Why_Government_Doesn%27t_Work

    “Government is a disease masquerading as its own cure” Robert LeFevere

    “The kind of man who wants the government to adopt and enforce his ideas is always the kind of man whose ideas are idiotic” H.L.Mencken

    “Regards”, onebornfree

    • Replies: @Mefobills
    , @Tom in AZ
  30. @jadan

    I believe Ellen Brown has long called for nationalization of the Fed.

    She has been a tireless advocate for state banks and for public control of the money supply, and a leading critic of the private control of the issuance of money through debt.

    The Federal Reserve Act was created in conspiracy and its passage was a great crime against the American people.

    “You gotta hand it to the conspiracy theorists, because, in fact, there was a conspiracy,” Roger Lowenstein told Ky Ryssdall during an interview on NPR about Lowenstein’s book “America’s Bank.”

    The men who wrote the Federal Reserve Act even wore disguises and snuck off in the night to a Victorian mansion on the ominously named Jekyll Island where they did their dirty work:

    http://thetyrannyofthefederalreserve.blogspot.com/2015/11/lowenstein-and-ghost-of-andrew-jackson.html

    • Replies: @ANZ
  31. A good start would be for all of us to sell any BlackRock mutual funds we have, including iShares ETFs. I am happy with low cost Vanguard mutual funds and ETFs. Vanguard is owned by its shareholders, which keeps costs low.

    • Replies: @Bolteric
    , @Bolteric
  32. sally says:
    @Big Daddy

    its much bigger than this..

    there are 2^8 nation states.. that 256 of them. each nation state has a central bank.. and a separate local economy.. what they have been doing is playing one economy and central bank crisis against the next.. ..

    the only fix it to get rid of the nation state system all together.. Global government from the bottom up; where no one is the leader, and everyone is a policeman watching those who are allowed to work for the government.

    • Replies: @RoatanBill
  33. Mike321 says:
    @Anonymous

    Read “Web of Debt” by Helen Brown. I may be a dumb Alabama hic, but I think she went after the Fed in that book….Just sayin’.

    • Replies: @gsjackson
  34. Mefobills says:

    But BlackRock and the other Big 3 ETFs vote the corporations’ shares; so from the point of view of management, they are the owners.

    History repeats.

    Mussolini nationalized the banks in 1926. The private banks had been voting absentee stocks. A small coterie of bankers could swing the stock market at will, to then take “profits.”

    Funny how Fascism was trying to prevent rents and taking unearned income in the form of rake-offs, while “democracy” allows takings.

    • Replies: @TheTrumanShow
  35. Mefobills says:
    @onebornfree

    So state monopoly is wrong in the first instance [“state monopoly capitalism”] – hint: “state monopoly capitalism” is not capitalism at all, its fascism.

    It is corporatism.

    Fascism does not allow “capital” to be above the polity.

    Corporatism is corporations, including finance corporations, controlling the polity.

  36. Mefobills says:
    @Anonymous

    The state bank of North Dakota insures deposits of banks within its system.

    It doesn’t need the FDIC.

    By promoting state banks, that is in effect, going after the FED. Brown, who advocates for state banks, indirectly is going after the FED.

    Any state bank, as soon as it is formed, will recall its risk capital from Wall Street. This then defunds wall street, and improves local economy for citizens of their respective states.

    Local economy is always better than centralized economy and power.

    The FED is a money trust of private banks where the reserve loops of said private banks point at the New York Fed. These banks then maneuver their credit into the stock market.

    In the old days when there were Greenbacks, call loans would crash wall street during harvest season. The stock market moved with planting and harvest seasons demonstrating that New York Fed was sweeping reserves into the stock market.

    So, while ND is still part of the FED system, the reserve loops and flow of credit within ND state system behaves locally.

  37. “Secession is the only answer in my opinion.’

    That won’t touch the problem. As described, political disposition is being subsumed or maybe consumed by the growth of asset management. Th very place one would have to go to get the required fund to effectively become a state nation.

    On otherwords, I as asset manager wouldn’t care about your political strategic ambitions, if what you want to accomplish requires funding —- I win, either way. The growing financial mechanisms in play are increasingly limiting and delimiting the very essence of government.

    In the old days — one would refer to this as mercantilism. And as government becomes merely a tool for businesses that is were we will end up – if not already there.

    The real solution and challenge is to divorce political leadership from the financial marriages they have embraced.

    My grand schema in this regard is to cease all elected and appointed officials from owning stocks, sitting on the board of stock companies bar their immediate family members form the same as a clear public conflict of interest.

    and that is just a start.

    —————————————

    major hurdle — the number states that ave invested pension funds in the very same mechanisms that undermine the political value of the investors. Dismantling those structures to provide for soft impacts across the country is going to require serious thought and planning.

    —————

    The alternative not to fight it, but maneuver the system so that it benefits a larger portion of the country. And that is where the political leadership has utterly failed.

    • Replies: @EliteCommInc.
  38. Ellen Brown says: • Website
    @jadan

    I’ve frequently called for nationalizing the Fed. Read my books. I was advised not to use the term because it sounds like “socialism,” and I have to play out my role as chair of the Public Banking Institute, which is a-political, so I’ve said instead that it needs to be operated as a public utility. But I think you’re right; I should just say it needs to be nationalized. It should be owned by and operated in the interests of the nation and its people.

    • Agree: FB
    • Replies: @jadan
    , @onebornfree
    , @anon
  39. @EliteCommInc.

    Correction: In everyone of these areas/options the political leadership has utterly failed.

  40. Kati says:

    They love black i guess, blackstone, blackrock group look at its CEO even is Schwarzman (schwarz-black)
    https://en.wikipedia.org/wiki/The_Blackstone_Group
    Like in your face.
    Imho those are all wallets of some specific family.

    Woolfolk described already 1890 in his “Great Red Dragon” the money kings owning over the halfs planet wealth(btw good read free and legal on archive.org), well the Rothchilds. And i would bet its closer to 80-90% of the planets wealth, hidden in thousands of ngo/company or like here in their wallet blackrock.

  41. The relational dynamic here is interesting. The governments of the US and Europe are bailing out these institutions, yet seem o a little or no influence or leverage on the benefit they provide. a case of the lender being held captive by the borrower and yet the government have never provided that leverage to the public (private home and small business) owners.

  42. Like any American, I like a good, juicy and fat conspiracy and the name BlackRock is a perfect start; furthermore, it has a CEO with a peculiarly Jewish name and the firm is the leader of the troika that owns majority in 90% of the S & P companies … so then, what’s is wrong here? After salivating my curiosity, the author takes a dive from the almost 27 trillion dollars in management to 746 million dollars’ deal–a mere pittance. What a let down!

  43. The article is excellent, the conclusions well-founded, the proposed solution far too gentle unless “regulation” is deemed synonymous with “castrate the bastards, then chop them into small pieces, then feed them to the buzzards.”

    Oh, and yes the FED needs to be abolished and the money functions reverted to the Treasury where, BY LAW, they belong. But five US Presidents have been killed for threatening to do this, so don’t hold your breath.

  44. Sean says:

    BlackRock applies to set up China mutual fund business …www.ft.com › content
    1 Apr 2020 – The China Securities Regulatory Commission said it had accepted applications from BlackRock and US investment manager Neuberger Berman, ..

    That is the reason they ought to be regulated: the Chinese are in a position to influence them and the rest of Wall Street into lobbying for China. The media including social media corporations will lick China’s boots in order to be allowed in the huge and growing home Chinese market. The COVID-19 epidemic is an opportunity to take China-America relations into a Cold War mode, and get the index funds and pensions and hi tech corporations delinked from China. Only then can treacherous Western elites receive just punishment for their temerity.

  45. Mefobills says:

    to deploy a $454 billion slush fund established by the Treasury in partnership with the Federal Reserve. This fund in turn could be leveraged to provide over $4 trillion in Federal Reserve credit.

    The SPV that allows levering $454 billion by 10X into $4T sure seems like a bank. Or at least, the initial Treasury “slush” fund of $454B is being hypothecated into more credit using keyboard entries.

    I haven’t found any data on this SPV and who authorizes the Hypothecation. If it is BlackRock creating new credit upon its own authority, to then buy ETFs it controls… well do I need to say anything more?

    It’s so tiring keeping up with the finance pea and shell crowd, as they change the rules to always win.

  46. Kiers says:

    Also, readers should be afraid of the following points; I’ve been digging:

    1) Blackrock’s safekeeping of passive assets means Blackrock controls the VOTES for all those shares in corporate Americas annual board meetings.

    2) Blackrock is like a shadow-bank; it does “securities lending”, one of the most NON-transparent industries in the financial markets (see the lawsuit by QS HOLDCO INC against primary dealers). Think of what abuses are possible (you don’t have to look far, during the ’08 GFC, ING was rampantly abusing securities lending): Deciding which of its securities to “lend” freely, means it can theoretically build short-sale pressure on those securities. With the money from the lending,it can invest in other securities (building long-buy pressure). This is like a long-short hedge fund, wrapped in a humble passive investment manager.

    3) Unlike a bank, if blacrocks “depositors” lose money…there’s no reason to bail them out! (If you lose money on your ETF, are you gonna call the SEC? LOL, please!)

    4) Like a traditional investment bank, Blackrock engages in underwriting(!), advising, buying, managing the securities, trading, shadow banking/securities lending, and enters derivatives transactions for its own book. All without SIFI oversight. (No wonder Bank stocks are suffering in the stock market: the future of banking is Blackrock….all fun, no tears, blessed by the Fed no less).

    5) If Blackrock trades derivatives based on its insider knowledge of Fed 2019 bailout purchases in the securities markets, who will check? who will know?

    6) The Fed, agreement with Blackrock, relies on Blackrock itself to have a “Chinese Wall” (new meaning in the Trump era) on improper information in that part of Blackrock dealing with the Fed and the rest of Blackrock dealing with wall street and investors.

    7) To my knowledge, the Volcker rule does NOT apply to Blackrock.

    8) Despite its large size, Blackrock doesn’t bear “SIFI” (Systemically Important Financial Institution) status, which requires close oversight and accountability from….the Federal Reserve!

    9) Blackrock, as part of its humble “passive” buy-side holdings, undoubtedly owns the shares (and votes the proxies) of the Primary Dealers it is working with as part of the 2019 Fed bailout

    10) Blackrock runs the largest risk-management, margin requirement assessing, VaR assessment, securities software platform in the world, called “Aladdin”. Unlike a Bloomberg Terminal at every trader’s desk, Aladdin makes CALLS on when its customers should SELL a security if it becomes “too risky” in Aladdin’s judgement (nice name, Aladdin).

    11) Roughly $21 Trillion dollars of assets sit under Aladdin’s purview. (this is NOT a small amount).

    12) Aladdin knows which derivatives have which counterparties! Nobody else, to my knowledge has that kind of vital strategic information.

    13) When Blackrock “buys” securities for the Fed, Blackrock will exercise its judgement as to what the “valuation” of those securities should be!

    There’s MORE, but I am not paid to look into BlaCKROCK. On the other hand, many of our watchdogs in government ARE paid to enforce laws. But read the book: “chicken-sh*t club”.

    • Thanks: Mefobills, Thomasina
    • Replies: @Tim too
  47. ANZ says:
    @Brian O'Brien

    The BIS is the one ring that rules them all, and the US Fed is the most powerful of the nine.

    The central bank is the wellspring, the source, the root of Jew power. It provides unlimited power to fund subversive cultural Marxism and fund the takeover of productive, tangible capital. It is the yoke than binds and enslaves the goyim. It rules goverment and its policies. It steals the lifeblood of the work of a people.

    If there is only one thing that I could do to harm the Jewish cause, I’d destroy the central bank and constitutionally abolish the possibility of a new one, on penalty of death. Dismantling the FED should be a major aspiration of any person who loves their own race, people, country and traditions. It is the beating heart of the enemy. It must be defeated.

    • Replies: @Guest0206
  48. Agent76 says:

    2018-06-22 World Conquest: The United States’ Global Military Crusade (1945- )

    The following article by professor Eric Waddell was first published twelve years ago by Global Research in December 2003 in the immediate wake of the invasion and occupation of Iraq by US and British forces, with a postscript added in 2007. The article provides an incisive historical perspective on America’s “long war” against humanity, which is being carried out under a fake humanitarian mandate.

    https://global-politics.eu/world-conquest-united-states-global-military-crusade-1945/

    Apr 10, 2020 The REAL WAR Has ALWAYS Been The Bankers VS. Humanity

    John Titus joins me to discuss the FED, and to help us understand that the REAL WAR has always been between the Bankers and humanity.

  49. I have long been involved in the social investment, ESG, movement having started the first such fund in 1982. I met Larry Fink, CEO of BlackRock some years ago. He is a very decent thoughtful person. His 2019 bold letter to CEOs reminding them of the broader issues of public benefit and long term value creation in the society was quite a landmark in the broader investment / corporate community. So, he has my support and respect.

    • LOL: TheTrumanShow
  50. a.hall says:

    Capitalism died when Wall Street conspired with George W.Bush and later Barak Obama to Steal
    $29 Trillion from the American Tax Payer in 2008. Who was further Scalped by the Big Bank`s Robosigning
    Forgery Scam . The TARP Handout for Paulson and his Band of 40 Thieves was enabled by the “Rating” Agency`s fictional Risk assessments. Moodys, Standard and Poor, Fitch were owned by the Bandits they were judging.

  51. Dennis Eros says: • Website

    Ellen, can we resend the special favors Trump has granted in secret? Dennis

  52. @Big Daddy

    They would never allow secession. You’ll have to fight for your life and taking complete control is the only way to ensure survival. Separation is not an option, domination is the only means of protection

  53. Black Rock = City of London

    JFK fought the City and was killed for it.

    • Replies: @Hodd
  54. jadan says:
    @Ellen Brown

    Thank you! I have read most everything you’ve written.

    Your support for the Bank of North Dakota model as a public bank is a de facto endorsement of the role of the Fed since the BND is a member of the Minneapolis Fed. Since the last crisis when Bernanke dropped rates to near zero, I have had the impression that you thought the Fed could now function as a “public bank” insofar as it could deliver low to no cost liquidity to increase the money supply and raise all boats. But QE didn’t work that way at all. In fact it is just another means for the transfer of wealth up the pyramid because the Fed is a private central bank accountable to its stakeholders, the top 10%, not the 90% American people. Its public mandate to keep inflation in check and curb unemployment is just public relations BS, window dressing Congress can hide behind. Our financial system is failing because of horrible mismanagement by the Fed that believes a productive use of capital is to loan it to Eddie Lampert and other financial looters so they can gut American retail icons like Sears & etc. Typical behavior of the financial parasites that own the private central bank!

    But then, few seem to trust government, the Treasury Department, to operate a truly public central bank as a public utility to serve the general welfare. We do not have a democratic structure that would guarantee transparency and accountability and prevent parasites like Steve Mnuchin under the direction of Donald Trump from destroying our beneficial public institutions. We need a new financial system to earn the public trust because the one we have is collapsing before our eyes from its terminal complexity and incompetence.

    Not only do we face the challenge of inventing a new financial system, we must also disband this oligarchy and transform this crumbling republic into a democracy. Given the circumstances this seems like a laughably ambitious plan. If we can avoid a military coup like the banana/coffee oligarchy we have become, that may be the best we can do as phase 2 of the covid19 bioweapon demonstrates a new and more lethal gain of function.

    • Thanks: MrFoSquare
    • Replies: @Ellen
    , @jadan
  55. Katrinka says:

    Who is BlackRock?

    Lets see if you spot a pattern.

    Chairman and CEO, Larry Fink (Jewish)

    President, Robert Kapito (Jewish)

    Chief Operating Officer, Rob L. Goldstein (Jewish)

    Chief Risk Officer, Ben Golub (Jewish)

    Chief Financial Officer, Gary Shedlin (Jewish)

    Global Head of Technology & Operations, Derek Stein (Jewish)

    Head of International and Corporate Stategy, Mark K. Wiedman (Jewish)

    Global Head of Active Equities, Mark D. Wiseman (Jewish)

    Amazing! EVERY. SINGLE. TIME.

  56. onebornfree says: • Website
    @Ellen Brown

    “I should just say it needs to be nationalized. It should be owned by and operated in the interests of the nation and its people.”

    Assuming you envision government oversight/control as nationalization, this is delusional thinking. Fantasizing that a gang of crooks called “government” is going to do anything “in the interests of the nation and its people” is demanding that ” the fox” be in put in charge of “guarding the henhouse”. No more, no less.

    This “just” in: “Because they are all ultimately funded via both direct and indirect theft [taxes], and counterfeiting [central bank monopolies], all governments are essentially, at their very cores, 100% corrupt criminal scams which cannot be “reformed”or “improved”,simply because of their innate criminal nature.” onebornfree

    “Taking the State wherever found, striking into its history at any point, one sees no way to differentiate the activities of its founders, administrators and beneficiaries from those of a professional-criminal class.” Albert J. Nock

    “Government is a disease masquerading as its own cure” Robert LeFevere

    “The kind of man who wants the government to adopt and enforce his ideas is always the kind of man whose ideas are idiotic” H.L.Mencken

    See:
    “Why Government Doesn’t Work”: https://wiki.mises.org/wiki/Why_Government_Doesn%27t_Work

    Regards, onebornfree

    • Replies: @ThreeCranes
  57. FB says: • Website

    A heads-up to a very interesting read from a guy that was directly involved in creating the ‘instruments’ that blew up up the Ponzi Scheme financial system last time, in 2008…

    The Looming Bank Collapse:

    ‘The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.’

    Those financial derivatives known as CDOs, or collateralized debt obligations that were the trigger for the problems last time around are back, but with a new twist, CLOs, or collateralized loan obligations…

    The only difference is that these are loans to companies rather than homeowners…but they are sliced and diced and resold as ‘investments’ the same way as CDOs…and according to this insider THEY ARE JUNK…

    And once they start unraveling, they could pull the whole house of cards down…

    Considering that now we have what 50 million people jobless and the economy basically half of what it was, a collapse of the Ponzi finance system could be far different than anything we have seen before…

  58. Ellen Brown says: • Website

    Ok but we have to deal with the government we have. We aren’t going to get out of it just by complaining about it. If you listen to their congressional hearings, they don’t seem to be asking the right questions, and it’s probably because they don’t understand the underlying issues. So that’s what I try to do, throw light on the issues.

    • Replies: @Mefobills
  59. Wonder why they didn’t call it SchwartzStein?

    • Thanks: ThreeCranes
  60. Hodd says:
    @Nightingale

    Black Rock = City of London

    JFK fought the City and was killed for it.

    Correction:
    Blackrock = Jerusalem
    Jerusalem = City of London
    JFK intended to issue government currency based on the value of silver…a presidential order, which would have devalued the greenback issued by the Fed. Rothschild Bank had JFK murdered. JFK admired Hitler and National Socialism. Rothschild funded Hitler up until 1942 which had included setting up the BIS in conjunction with Hitler (which is where all the Nazi gold is stored along with Gaddafi’s 40 tons of Libyan gold and Venezuela’s gold). When Stalin stopped Hitler at the gates of Moscow, Rothschild realised they were backing a spent force and consequently Israel refused to accept the 500 Jews transferred from Germany with all their money each week. The result was overcrowding in the work camps and this is where and how the Holocaust lie was created.
    Note: in 1829 Rothschild Bank bought Jerusalem from the Ottoman Empire. This is where the Red Dragon hides in his lair with his gold and where he eats maidens. Netanyahu is Rothschild Bank’s sock puppet. Trump is Sauron’s Gollum! Gollum’s son-in-law is a cretin who thinks he has the ear of the powerful but is just a useful idiot.

  61. “I should just say it needs to be nationalized. It should be owned by and operated in the interests of the nation and its people.”

    Well, if you can lay out the legal justification for the US government to seize control over a private corporation, i would be open to hear it. The legal remedy would be for the US to merely cease using the fed as a regulatory body period and create something new.

    Because what Pres. Jackson ending the national banking system makes clear is that national standard for money is not only sensible, it’s wise.

  62. May I request from the author or from any commenter a simpleminded explanation, understandable to a person like me with a college degree but no MBA, of

    * approximately how much money is being transferred
    * from whom
    * to whom
    * by what mechanism?

    Specific instances would help. For example, “On June 15, the Fed’s Open Market Desk bought $15 million of General Motors 17/27 on the open market, allowing General Motors (according to Penn State’s Prof. J.S. Pfufnik) subsequently to issue $35 million in new bonds at a rate 1.8% lower than formerly.”

    (Actually, I would prefer instances even more simpleminded than my mock model General Motors instance, but unfortunately I do not yet know enough about the topic to mock a believable model instance. I am most interested to learn!)

    I am very prepared to believe that corruption that benefits probably disproportionately Jewish interests has occurred, but if it has, then I would like to harass my Congressman about it in front of an audience at his next meet-the-constituent event; and for that I need a brief, believable story I can understand well enough to explain to others.

    Can anyone here give me that?

    If the author has written a book that explains, I would like to buy the book. I am dusting off a space on my nightstand for the book right now.

    If there is a scandal, but the scandal cannot be explained in a way the public (including me) can understand, then the scandaliers will get away with it.

  63. freedom-cat says: • Website
    @Big Daddy

    Will my Social Security Fund the Government has so generously been saving for me transfer over to our new country?

  64. Ellen says: • Website
    @jadan

    Yes I agree with all of that, except that BND isn’t a member of the Fed. It has a master acct with the Fed, as all banks must if they want to transact with other banks; but to be a member means buying stock, which it hasn’t done or needed to do. It took the Bank of American Samoa (publicly owned) 2 years just to get a master acct with the Fed (finalized last year), and that is likely to be a major hurdle for the rest of our fledgling public banks as well.

  65. Guest0206 says:
    @ANZ

    If the FED is the beating heart of the enemy, then $ status as a reserve currency is its blood.

    Perhaps financial oligarchy is already preparing for the end of that reserve status:
    by increasing the frequency of wealth transfers and their monstrosity ( in size )
    as well as the audacity of the excuses to plunder (from 9/11 through 2008 and the covid).

    The political system in US may not survive the next fleecing round/wealth transfer and
    there may be nothing left to fleece, without implementing a domestic authoritarian system and going through a period of sustained domestic genocide.

    These wealth transfers are a bit like the overindulgence of the rats before leaving the ship.

    “The international financial oligarchy cannot secure “stable and sustainable” long term extraction of wealth with any semblance of democratic governance, even a decaying oligarchic democracy. Hence the last resort for the bankers in the EU and USA is to directly appoint one of their own to push, shove and impose a sequence of comprehensive large scale, long-term regressive changes. The mission of the technocrats is to impose an enduring institutional framework which will guarantee long-term, high interest payments based on decades of impoverishment and popular exclusion.” https://www.thefreelibrary.com/The+New+Authoritarianism-a0273555120

    • Replies: @ANZ
  66. Parfois1 says:
    @Pft

    Thank you for your sum-up about the “black ops” doing the rounds, much more than the usual “conjunctural coincidences” and, more likely, pointing out to the expected global finance reset.

    Should we expect a “white ops” backlash against this “black” tidal wave? Apparently some bikers, the last bastion of “white supremacy”, are planning a “patriotic resistance”. Rephrase it as the “pathetic resistance” to get the gist of it.

  67. Ellen Brown has written an excellent synopsis of Blackrock’s newfound wealth transfer ability, and obvious extrajudicial control over the US Congress and matters of state. Moreover, this off-exchange broker/dealer hedge fund oligopoly most assuredly controls all the USA Primary Dealer Credit Facilities and their duration on the US books for the US Treasury & private Federal Reserve central bank. This means that Blackrock Inc. and their hedge fund managers are actually in control of the entirety of the USA and the USA Constitution at a level of unaccountability unsurpassed in the historiography of banking of the western world.

    Blackrock Inc. and shareholders are certain to fail in terms of propping up the failed US state & failing Petrodollar supremacy that gave undeserving Americans hegemonic control via USD and USA fiat currency as the reigning hegemon of world banking & investment.

    Since Bear Stearns imploded March 10th 2008 around 11:00am time New York City we have evidenced myriad so-called ‘doom loops’ that Blackrock In & shareholders have failed to grasp or contemplate in the face of an imploding banking architecture and tax base sovereign-by-sovereign the world over.

    Blackrock Inc. and G7 Central Banks are merely repeating the Quantitative Easing Revolution of Central Banking under the limelight of a Central Intelligence Agency deployment of SARS-2-nCoV-19 man made Pandemic Pathogen as subterfuge for their reluctance to once again approach Congress publically for yet another bailout that was promised would never happen post-Lehman debacle.

    Bottom line is that the USA and western banking architecture is wholly insolvent post Lehman debacle that was never ameliorated during the Great Financial Crisis or post-GFC. Blackrock Inc. and shareholders are just hedge fund confidence men & women that are likely less adroit than Charles Ponzi himself.

    America is a giant Ponzi backed by corporate welfare recipients that rely on share buybacks & rigged markets with zero market fundamentals except a giant Greenspan Put floor under every investor of junk bonds & toxic Commercial & Residential Subprime Mortgage Backed Securities.

    Asset inflation is no trick to accomplish when moral hazard is no longer something to worry about in a system that is purportedly Too-BIG-to-fail, nail, or jail.

    Blackrock Inc. shareholders are undeterred I’m sure, but they will fail in due course, mark my words.

    Mandelbrot warned us about speculation & speculators like Blackrock Inc. and shareholders. Dwight D. Eisenhower warned us about Blackrock Inc. and shareholders too when he retired from office back when I was a naïve kid.

    RW

    • Replies: @V. K. Ovelund
  68. @sally

    What you’re describing is the fundamental anarchism position; rules but no rulers.

    As an avowed anarchist, I’m with you, but you won’t find many who will agree with you. Most people think gov’t is some kind of absolute necessity and never even consider anarchism. The mere mention gets a reaction with no thought behind it.

    All gov’ts cheat the common person. That’s their reason for being. Central banks litter the planet to make sure those close enough to the money fire hose get rich while the rest just survive. What we’re witnessing right now is the final blow up of the fiat money system. The Covid hysteria was a gift to the bankers and political class to start a migration to a new system that they intend to control again. I’m hoping the millions of working folks finally realize that voting for hemorrhoid R is no different that voting for hemorrhoid D. They both suck.

    The next 6 months should reveal how this fiasco is going to work out. If enough people get screwed by this phony plandemic they just might start a revolt. It’s way past due.

  69. FB says: • Website

    Great comment, Robert…

    I think at this point it’s just Goodbye Charlie…

    Certainly neither the treasury, nor this Black Rock Ponzi outfit is going to find a way to repeal the law of gravity…

    It’ll be interesting to watch this train wreck unfold…my only question is whether the Covid plague was deliberately engineered…

    If yes, then it makes sense as a distraction for the economy melting down…we all knew they would pull some kind of stunt once the Ponzi unraveling began…at least it’s not a nuclear exchange…

    • Replies: @Robert White
  70. @Mefobills

    “Funny how Fascism was trying to prevent rents and taking unearned income in the form of rake-offs, while “democracy” allows takings.”

    Yes. Doublethink/Doublespeak, with more and more things the very inverse of what they’re purported to be.

    • Agree: Mefobills
  71. @onebornfree

    Says the man who drives on publicly owned roads, walks on publicly owned sidewalks under publicly owned streetlights to the publicly owned library and sits in the publicly owned park on a publicly owned bench and takes a drink of water from the publicly owned water fountain which is supplied water from a publicly owned treatment plant. And who then uses his toilet, the effluent of which is collected and transported by publicly owned pipes and treated at a publicly owned sewage system.

    His children swim at publicly owned pools, attend publicly owned schools, play on the publicly owned recreational equipment there, borrow band instruments from the public school system for a ridiculously low fee and receive instruction in the use of which at the public expense.

    Please, onebornfree, you are not free, never were. No one is.

    We are born completely helpless. We would die withing hours without the aid of other human beings. You are born utterly dependent. Hopefully, as one grows and matures, one becomes more free–and powerful; they are the same thing.

    But you are not completely free and never will be. Your entire life is contingent. You depend on plants to supply you with oxygen etc.

    I wonder why you are so obsessed with your obviously nonsensical notions about freedom? Your delusion and freedom are inversely correlated perhaps?

    • Agree: bluedog
    • LOL: FB
    • Replies: @Mefobills
  72. @FB

    I’m Financial Intelligence, but I’m also International Intelligence too. I, for one, assure all throughout the world that SARS-2-nCoV-19 is indeed a Gain-of-Function Dual Use Pandemic Pathogen that was manufactured in a USA Biosecurity Level Four laboratory before being deployed by the CIA operative that was embedded in the American contingent of the Wuhan Military Games held prior to the progenitor outbreak in the fishmarket of Wuhan without a progenitor human case to identify.

    Forensic epidemiologists will never find the progenitor case that started the outbreak because it was grown in a BSL-4 laboratory in the USA to approximate generations of mutation that would be required to vector pathogenicity to the exponential degree of a Gain-of-Function Dual Use Pandemic Pathogen that was manufactured for purposes of bioterrorism.

    Believe me when I state that the CIA is wholly responsible for this release of an uncontrollable man made Pandemic Pathogen as I have proprietary evidence that they did it. Moreover, I had this evidence prior to the outbreak too.

    P.S. See http://www.cambridgeworkinggroup.org/

    I’m a charter member of the 2014 CWG Call to Action on Pandemic Pathogens. I signed the charter for Carleton University, Ottawa, CANADA.

    Cheers, Robert

    • Troll: V. K. Ovelund
    • Replies: @Bombercommand
    , @FB
  73. Tim too says:
    @Kiers

    McKinsey knows.

    • Replies: @Kiers
  74. Blackrock to dumb black goyims:

    “Hey, look over there, that statue is oppressing you! Pull it down! Those white goyims also want to kill your kids! Oh, and vote Democrat!”

    Blackrock to dumb white goyims:

    “Hey, look over there, that black goyim is pulling down your beloved statue! He also wants to rape your kids! Oh, and vote Republican!”

    Dumb white goyims:

    “Arghhhh! You goddamn black bastards! Ima kill yous filthy animals!!! Raping me and my kids! USA! USA! Arghhhh!!”

    Dumb black goyims:

    “Cracka ass crackas! Yous oppressing me wit deez here statues and killing my chilluns! Arghhhhh!! Ima give to yo ass! Arghhhh!!!!”

    Blackrock:

    “Haha! Suckers. Works every time, and these dumb goyims still think voting will stop us! Pass the champagne! Call Trump, Adelson, Soros and Pelosi over, lets watch these stupid mfers kill each other while we count this paper! Sweet!”

    • LOL: Ron Unz
  75. @Ad70titusrevenge

    Those damn Amish and their Corporate Fascist Military Industrial Intelligence Police State. How did the Amish get so damn good at this. Perhaps we could attack their buggies and take the money back.

  76. @Robert White

    Your comment does not make sense to me. Would you explain, quantitatively, including at least one substantial concrete example, what you are talking about, so that normal people like me can understand?

    • Replies: @Robert White
  77. jadan says:
    @jadan

    @Ellen

    The new central bank called the US Treasury will control the national money supply. The regulations of the Fed will no longer be relevant. A dictionary of arcane and incomprehensible financial jargon will be pulverized and composted and Michael Hudson will compose a new one. The new financial structure, something akin to that described in House Resolution 2990, legislation put forward by Dennis Kucinich in 2011, and co-sponsored by John Conyers, will be a public corporation with every American citizen as stakeholder. The banks can organize themselves as they see fit in the private sector, but they will no longer control the national money supply. They will no longer partner with the Fed to defraud the public. Control of the money supply will happen at the federal level. The Fed and its network of oligarchs will no longer have a boot on the financial neck of the American people. Everybody will live happily ever after, kind of like they do in Swden and Denmark, but even better.

  78. @Robert White

    I don’t believe you. Identifying yourself as Canadian does nothing for your credibility. Canadians are very proud that they invented the most moronic screw head on the planet: The Robertson.

    • Replies: @Robert White
  79. @V. K. Ovelund

    Quantitatively speaking, $9 trillion USD funnelled into Primary Dealer Credit Facilities of the Federal Reserve via the United States Treasury issuance of American taxpayer indentured servitude to motherfuckers on Wall Street that work USD issuance from the discount window of the Federal Reserve whereby all the mofos in the cartel get FREE MONEY and the Great Unwashed masses like you get the bill via extortionate interest rate regimes via the credit card subprime borrowing debt stream that top level bankers & investment houses would never dream of paying for loans from banks.

    Empirically, the money junkies of Wall Street want FREE MONEY no interest payments [0.025% rate] whilst they in turn charge their borrowers double digit interest rates [16%-to-26%] of usurious proportion all while attempting to convince you [normal guy] en masse that they are doing ‘Gods work’ to keep the system working to undergird further victimization of the poor sots that don’t know how the wealth transfer class transfers wealth from your pocketbook to their own cartel oligopoly that is fixed like the borrowing schemes they worked out to fleece your bank account and asset attainment plans.

    Warren Buffett can borrow money at a cheaper rate than his secretary can. Moreover, Warren Buffett’s secretary would never be able to borrow FREE MONEY from the Federal Reserve whilst I’d bet dollars-to-donuts that Buffett could.

    RW

  80. gsjackson says:
    @Mike321

    She (Ellen Brown) did go after the Fed. Web of Debt might be the most eye-opening book I’ve ever read. I didn’t have a clue about the whole fractional reserve scam until I read it.

  81. ANZ says:
    @Guest0206

    As an American, I see the US Federal Reserve as public enemy number one, but I still recognize that the global banking cartel squid is a global monster. Since it is global, there isn’t a patriotic affinity for the FED from those who run it. Their fate is not inextricably linked to the fate of the US, unlike the rest of us normal folks. When this carcass is picked clean, the international class will jump over to the next national victim. When you have that much money, there are no borders for you.

    How much more fleecing can the FED/Wall St. orchestrate? So long as oil is still traded in $US and the world’s biggest military backs that arrangement, I think it’s far from over. The BIS needs to contain China since they don’t control China like they do the rest of the West. If the US dollar were to fall from reserve status, something would have to replace it. Economically, I would thing the Yuan is the obvious choice. That can’t be allowed to happen if the big Jew bankers can’t get their skim.

    The BIS needs the dollar currently, but they won’t forever. That’s when the US devolves into chaos. Can you imagine not being able to run a deficit after all these years of making so much of the US populace dependent on handouts?! Aside from military and banking, most of the US population is expendable to the global puppet masters. We are being pumped and dumped, in the sexual metaphor way. Asset stripped to the international borderless class. When SHTF, they’ll already be gone.

    Democracy is nothing but a vehicle for an oligarchy. Mathematically, 51% can asset strip 49%, but realistically a tiny connected minority stop us all. A few people on this site have said this well. Americans are too stupid to keep a republic or a democracy.

    I agree, regression and repression are coming on fast. It’s been happening for decades but it’s accelerating at a scary pace.

    • Agree: Robert White
  82. @Parabola

    That’s Blackwater not BlackRock

    Thanks – my reactive biases showing.

  83. @Bombercommand

    For woodworking the Robertson screw head is the best God damned fastener ever invented by man, but Americans did make some pretty damn good tools in their prime before the Wall Street brain trust sold the manufacturing sector to China & the third world so that they could become the banana republic they always wanted to be headed up by a tin pot dictator like Trump.

    Did you know that Deutsche Bank holds the lion’s share of Trump’s personal loans?

    RW

    • Replies: @Bombercommand
  84. “Democracy is nothing but a vehicle for an oligarchy. Mathematically, 51% can asset strip 49%, but realistically a tiny connected minority stop us all. A few people on this site have said this well. Americans are too stupid to keep a republic or a democracy.”

    I agree with the general perspective here. But I don’t think this is a hurdle f0r democracy. Which does have some tools to curtail the abuses — at least out republic does. This is a question of whether government of any kind will really mater at all. That regardless of the political management system in play, a government that operates as mechanisms of and for business is itself irrelevant to the people it was intended to operate on behalf of.

    The contentions that demand and end to the Fed have been around since since before Pres. Jackson. Regulating a national currency is part of the founders debate. Since the Fed is a private corp and not publicly oriented in any manner save for its policy disposition, minus some manner of lgal violation, so the idea of taking it over by government decree is a tough sell. And I don’t hear any arguments that the Fed is a corporation engaged in unfair business practices such as unfair monopolization. So leveraging the unfavorable mood of the country regarding US monetary policy has to be the mechanism to bar Fed action or decouple the Fed from policy.

    That’ a much tougher road. And it still does not address the details of sustaining a national currency and standard for the same the country can rely on.

    • Replies: @Mefobills
  85. Facts are requested, please.

    Here is the CARES Act. Please indicate which of the Act’s provisions authorizes “a $454 billion slush fund established by the Treasury in partnership with the Federal Reserve.” If the Treasury Department has issued a rule (here as far as I know are Treasury’s recently issued rules) to implement the slush fund, please indicate which rule. Alternately, if the rule in question is a Federal Reserve rule (here), please indicate which. In any case, if the provision or rule in question has been applied in a nonobvious way, briefly explain.

    The article has the ring of real expertise, so I do not especially doubt its conclusions. Moreover, I remember how Goldman Sachs leveraged the Panic of 2008 to loot the Treasury; but if one would like angry citizens to force their congressmen to answer for CARES Act corruption in 2020, then one must arm us with facts.

    • Replies: @Ellen
  86. @Robert White

    The Robertson is garbage. Its head strips very very easily(even when doing things right) and when that happens you’re “screwed”, as it becomes “round” rather than “square” and can’t be remediated. If that happens with the Robertson screw installed, you’re “really screwed”. A tightly installed Robertson that requires torque to draw out nearly guarantees this ludicrous situation. A Flathead rarely strips, and if it does, it can be remedied easily with a file. If you don’t have a screwdriver handy, a dime coin can be used. There is something basically cracked about the Canadian Brain, you are all totally mediocre but have a smug attitude of superiority, particularly towards Americans. Service industries are incompetent and unbelievably rude to customers. The social culture is soul crushing and mindboggingly boring. The Maple Leaf is an apt symbol for Canada, as the Maple aggressively kills other trees by using the peculiar shape of its leaves that very effectively cut off sunlight to anything below. Unlike other trees the Maple will not coexist with other species. Maple wood is crap, even thick pieces warp and check in curing, unlike the noble Ash, or the incomparable Hickory. Canuckistan, like the Maple, warped, cracked and soul crushing.

    • Replies: @Robert White
  87. @Bombercommand

    I’m a long time fan of Gene Krupa & the Slingerland Drum Manufacturing Company that originated in Chicago to build the absolute best sounding Slingerland Radio King drums ever manufactured by USA tradespersons in fine instrument manufacturing.

    These historically beautiful and perfectly sounding Hard Rock Maple shells are the very best in the entire world if one is a collector of fine musical instruments.

    CANADA’s Maple trees are a windfall for Canadian maple syrup producers and a major export product that is enjoyed worldwide including the USA.

    Only a good CANUCK can understand the quality of CANADA’s Maple trees, but I do tip my hat to the fine craftsman that manufactured the Maple shells at the Chicago Slingerland Drum Manufacturing Company during the 40’s, 50’s, & 60’s.

    Maples are strong & beautiful as well as utilitarian when it comes to woodworking & Fine Arts crafts-making in the musical instrument realm.

    RW

    • Replies: @onebornfree
  88. Mefobills says:
    @EliteCommInc.

    Regulating a national currency is part of the founders debate.

    Yes, and they blew it. Screwed it up big time.

    Tyranny found its way through because the money power was not firmly established in law.

    Revolutionary war in large part was due to depression induced by King George not allowing colonial script (paper money).

    Revolutionary war was won largely because Colonial paper money. Colonials (paper money) was counterfeited by the British during the war.

    So, post war there were debates, but the debates were with a people in a fog of confusion. Also, the British sent their agents of Mammon to muddy the waters further.

    In the end, the constitution allows the Government to borrow its own credit from privateers.

    Article 1 section 8: To borrow money on the credit of the United States

    Thomas Jefferson wanted one do-over at the end of his life, and that would be to forbid the U.S. from borrowing its own credit. In other words, the sovereign doesn’t borrow, it issues.

    The money power is the highest power of a sovereign people, the one power that is to be most heavily safeguarded in law. They blew it. The bad guys won a victory basically overturning the revolutionary war.

    The Constitution gives away the money power to privateers – and so here we are today.

    Agents of mammon and usury became method almost from the beginning of the country. There were battles over who got to issue the money starting with the first bank.

    Today’s race war is a subset of privatized money power. If you pull on the red thread you will find the usual suspects (finance oligarchy) funding social movements.

    • Replies: @V. K. Ovelund
  89. Mefobills says:
    @ThreeCranes

    But you are not completely free and never will be. Your entire life is contingent. You depend on plants to supply you with oxygen etc.

    I wonder why you are so obsessed with your obviously nonsensical notions about freedom? Your delusion and freedom are inversely correlated perhaps?
    _______________________________

    Lolbertarianism is dangerous. Why? Three reasons:

    1) Good propaganda has elements of truth
    2) Human Brain Myelin Sheaths first info
    3) To undo propaganda is 6x

    The first info you take in becomes stuck in your brain. Everybody has experienced trying to UNLEARN something. NOT SO EASY IS IT. It is about 6X as hard to unlearn – to overwrite former myelin sheathing.

    Also, if you believe something your entire life, when you get old, it takes bravery to reject it. To reject it is to reject yourself. Logic and Truth won’t work on people who have become trapped… they are lost.

    I hope this won’t make people despair, but all of the BLM and Antifa folks running around have been propagandized in the same way, and to undo false memories they were programmed with will not be so easy.

    Hitler used concentration camps, which were a place to “concentrate” the minds. The camps were not jail and not civilian life, but something in-between. Six times as hard

    • Replies: @ThreeCranes
  90. @Mefobills

    Today’s race war is a subset of privatized money power.

    Er, what?

    If you pull on the red thread …

    Please pull it. I would like to see what is inside.

    … you will find the usual suspects (finance oligarchy) …

    Okay, but do the suspects have names? (Anybody can name George Soros, an all-purpose hobgoblin. Are there any other names?)

    … funding social movements.

    Which social movements? How much funding? Under what arrangements? When?

    Specifics are lacking. If you named a specific 501(c) nonprofit that got a specific amount of money for a specific stated purpose on a specific date from a specific person, this would be most helpful.

    I do not ask for a dissertation, but consider: when we learned the news that Antifa/BLM were decapitating statues, the news came with a photograph of a specific statue of a specific historical figure (Columbus) in a specific place (Minneapolis) decapitated on a specific date. The news did not speak vaguely of “usual suspects.”

    I am reluctantly prepared to believe that a nefarious financial oligarchy is probably active in the United States, but to fight such an oligarchy, Americans shall need facts, please.

    • Replies: @Mefobills
    , @Guest0206
  91. onebornfree says: • Website
    @Robert White

    “..I do tip my hat to the fine craftsman that manufactured the Maple shells at the Chicago Slingerland Drum Manufacturing Company during the 40’s, 50’s, & 60’s.

    Maples are strong & beautiful as well as utilitarian when it comes to woodworking & Fine Arts crafts-making in the musical instrument realm.”

    The same goes for Fender Strats and Tele’s with maple necks- what a great sound!

    As for Robertson screws, anyone who uses screws regularly understands that the density of the wood screwed into, plus the quality of the steel used in the screw, are the most important factors with regards to “head strip” . Even then, the screwdriver or bit head must fit perfectly into the screw head or “head strip” will occur, particularly if the screw goes into a non pre-drilled dense wood with plenty of sap [eg heart pine], regardless of whether the screw head design is Phillips, Robertson, Star or whatever. And using a dime on a flathead is only possible if the screw and head slot are big enough, which is often not the case.

    And now, back to your more regularly scheduled programming…..

    Regards, onebornfree

  92. Mefobills says:
    @Ellen Brown

    If you listen to their congressional hearings, they don’t seem to be asking the right questions, and it’s probably because they don’t understand the underlying issues. So that’s what I try to do, throw light on the issues.

    And you are doing great.. keep up the good work.

    It is a feedback cycle where malformed money power perverts the process and simultaneously defends itself.
    _______________________________

    Congress critters in many cases, are paid not to understand the underlying issues.

    https://www.unz.com/article/what-lunatic-is-running-this-floyd-hoax-madhouse-my-bet-the-dnc/#comment-3982972

    Thomas Massie dropped the dime on how DNC and RNC is funded.

    At 7 min in He describes how Critters have to raise money to pay for Committee Assignments.

    At 30 min, Massie describes how in addition to payment for Assignments, there is also an assessment every election cycle. For example, Speaker of the House has to pay somewhere between $50 and $100 million dollars.

    Lobbyist pay critters, who pay DNC or RNC. Who funds the lobbyists?

  93. Tmac says:

    “BlackRock”… Sounds like the fallen star/meteorite that the Islams worship in Mecca. It’s also telling that their software is called “Aladdin”. As if worshipping a Fallen Star (Lucifer) wasn’t odd enough… now one controls all finance.

    • Replies: @Sya Beerens
  94. FB says: • Website
    @Robert White

    Thanks Robert…

    Just had a look at that Cambridge Working Group statement you linked to…

    Interesting that this international academic statement of concern about bioweapons dates from 2014…

    One could say there was definitely a little premonition there…

    Looks like you’re affiliated with Carleton U…

    Regards,

    FB

    • Replies: @Robert White
  95. @Mefobills

    Two things can blast us out of our psychic habits: a near brush with death and a great love.

    • Agree: Mefobills
  96. ‘Tyranny found its way through because the money power was not firmly established in law.

    Revolutionary war in large part was due to depression induced by King George not allowing colonial script (paper money).’

    I am going to avoid the “race war” contention. And while its clear that the law has been used to advance the benefits over one set of citizens over another. The question is how to decouple that relationship.

    Reconstruct the system so that people’s money actually is the people’s money used to their benefit as oppose to backing of more corporate “grift.” I have posed some suggestions that are ground level. Others have made the contend to simply seize the fed. I would like those who advocate this explicate how that would happen. As article after article after article makes clear — this is tangled mess.

    The social conflict that is growing is not born out of color relations, but the loss of credibility of the system and its players. The curtain as it were and the clothes have been shorn and or are in the process of being shorn — regardless of skin color, its impacts are being experienced by a wider wider margin of the public.

    And they are unhappy

    • Replies: @Mefobills
  97. TGD says:

    “I believe that banking institutions are more dangerous to our liberties than standing armies.” Thomas Jefferson

    Jefferson is soon to become a non-entity. Average citizens of the USA already are.

  98. Mefobills says:
    @V. K. Ovelund

    I am reluctantly prepared to believe that a nefarious financial oligarchy is probably active in the United States, but to fight such an oligarchy, Americans shall need facts, please.

    Prepared to believe means you are well on your way toward believing. Finance Oligarchy and private interests maneuvering overtly or covertly IS the main “general law” of history.

    You have to accept the general law of history before you can move on.
    ___________

    https://www.oswaldmosley.com/the-idea-of-europe/

    What went wrong? It seems that as a general law of history revolutions undertaken in the name of ‘the people’ are a façade for the seizure of power of a moneyed interest against traditional rulers and traditional rules. Even going back to the Roman civilisation, the historian Oswald Spengler in his monumental Decline of The West, noted that Tiberius Gracchus started his revolt in the name of the ‘people’ but with the backing of the wealthy Equites class; Spengler opining that in our own time there is no workers’ revolutionary movement including Communism, that does not serve the interests and direction of ‘money’. Today, read George Soros, National Endowment for Democracy ad infinitum and the ‘colour revolutions’. Each revolt, in the name of freedom’, meant increased freedom for emerging classes of new wealth. The Reformation of Henry VIII destroyed the social order that had been held together by the Church, the monastery, the village priest, and was replaced by oligarchs. Cromwell’s Puritan Revolution paved the way for the Bank of England.

    The French Revolution, from which both liberal-capitalism and socialism emerged, destroyed the final vestiges of the guilds, abolished by law, in the name of the ‘free market’. Trade unionism was a reaction to industrialism, where workers tried to squeeze as much remuneration as possible from factory owners, while they in turn were squeezed with usury by the banks, of which Marx and other such socialists said little or nothing. Gone was the social organism that, despite its flaws and tribulations, had been the norm of pre-capitalist Europe, organised around the guild and the village and looked on as the divine order.

    ________________

    Hudson in his latest book, “and forgive them their debts,” reduces all of history to a war between creditors and debtors. All of history. I recommend this book for you to read. Even Christianity has had its meaning changed to protect the creditor class.

    Finance Oligarchy are “Creditors” who have banded together to extract and self aggrandize.

    Judaism is nothing more than Hillel and Pharisaical injunction indurated into practice with Talmud as defining doctrine.

    Every human wants an easy life. High civilization can only exist if some sort of authority suppresses this will to power for easy life.

    In Mosley link above, Guilds made sure that usury didn’t enter into the guild system. Usurers who were trying to take with sordid gain, say by adulterating goods, would be killed.

    With regards to exact facts, I have a lot of comments here at Unz you can read. But, it is up to you to accept the General Rule of History, and only then will you be prepared to pull the thread.

    • Replies: @V. K. Ovelund
  99. @FB

    I graduated in 97 with an Honours B.A. in Experimental Psychology which is an American Psychological Association sanctioned school that is teaching Experimental Psychology under the umbrella of the APA & Canadian Psychological Association standardization of Experimental Psychology programmes throughout Western tertiary education. In brief, my education came from an institutional monopoly over education worldwide. The APA governs who gets what promotions throughout the entire domain with the exceptions being Russian Federation, Cuba, & China as heterodox comparisons to USA orthodoxy.

    Today, I am only affiliated to Carleton University via my formal education in Experimental Psychology. Only that department knows who I am. Life Sciences & Epidemiology proper don’t know me from Adam.

    RW

  100. Speaking of books,

    I am attempting to push through Thomas Piketty’s

    “Capital”

    small print is really hard to tackle these days. Which examines wealth and and the wealth gap via tax rolls of nations throughout the 21st Century..

  101. Mefobills says:
    @EliteCommInc.

    The social conflict that is growing is not born out of color relations, but the loss of credibility of the system and its players.

    Every social revolution is funded.

    The immigrant wave of Hondurans was funded with micro loans from the usual suspects.

    This immigration is accompanied by propaganda by the owned press. Chamber of Commerce types like cheap labor, so they can take sordid gain.

    If you think otherwise, you are shouted down as a racist. People who are doing the “shouting down” are usually simpletons, or ignorant, or have lapped up propaganda since birth as if it was truth. They have no frame of reference.

    Color revolutions are funded to then achieve a goal. Goals are usually hidden.

    Example: Ukraine was to deny Russian gas/oil access to Europe. Syrian war was to deny an axis between Syria, Russia and Iran to sell gas to Europe. Saudi and Qatar funneled petrodollars through CIA to MIC and the bought U.S. media (to emit propaganda,) and also fund mercenary “Takfiris.”

    No revolution states its goals outright.

    The finance capitalist system is losing credibility due to internal contradictions. In meantime finance oligarchy is “Killing the Host” to extract what it can, and possibly flee elsewhere to some gated community. The “cares” act was a 6 Trillion dollar looting operation which mostly funds corporatism and finance corporations (banks, shadow banking, hedge funds and their tied companies.)

  102. JohnSmith says:
    @Ad70titusrevenge

    Laurence Fink, the billionaire chairman of BlackRock, is a director of the Council on Foreign Relations (CFR). Fed chairman Jerome Powell, like most of his predecessors, is also a CFR member. Powell was a partner at the Carlyle Group, whose billionaire founder David Rubenstein is the current CFR chairman. See lists at the CFR website.

  103. @Mefobills

    With regards to exact facts, I have a lot of comments here at Unz you can read.

    Well, as you say, you have a lot of comments here at Unz, so I have now read all your 134 comments since the beginning of June. Will that do? As far as I can tell, this comment of yours, dated June 10, is the most pertinent.

    If you’ve a particular, even older comment you wish me also to read, please feel free to direct me to it.

    • Replies: @Mefobills
  104. “No revolution states its goals outright.”

    I think history betrays you.

    I will keep it local

    the founders

    [MORE]

    In Congress, July 4, 1776.
    The unanimous Declaration of the thirteen united States of America, When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

    We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.–That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, –That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.–Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

    He has refused his Assent to Laws, the most wholesome and necessary for the public good.

    He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

    He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.

    He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public Records, for the sole purpose of fatiguing them into compliance with his measures.

    He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.

    He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the Legislative powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.

    He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.

    He has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary powers.

    He has made Judges dependent on his Will alone, for the tenure of their offices, and the amount and payment of their salaries.

    He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.

    He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.

    He has affected to render the Military independent of and superior to the Civil power.

    He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

    For Quartering large bodies of armed troops among us:

    For protecting them, by a mock Trial, from punishment for any Murders which they should commit on the Inhabitants of these States:

    For cutting off our Trade with all parts of the world:

    For imposing Taxes on us without our Consent:

    For depriving us in many cases, of the benefits of Trial by Jury:

    For transporting us beyond Seas to be tried for pretended offences

    For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies:

    For taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments:

    For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.

    He has abdicated Government here, by declaring us out of his Protection and waging War against us.

    He has plundered our seas, ravaged our Coasts, burnt our towns, and destroyed the lives of our people.

    He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation and tyranny, already begun with circumstances of Cruelty & perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.

    He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.

    He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages, whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

    In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.

    Nor have We been wanting in attentions to our Brittish brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.

    We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor.

    https://www.archives.gov/founding-docs/declaration…

    ——————————————————–

    And over the course of a month they each slid into the hall and signed the darn thing

    Georgia

    Button Gwinnett

    Lyman Hall

    George Walton

    North Carolina

    William Hooper

    Joseph Hewes

    John Penn

    South Carolina

    Edward Rutledge

    Thomas Heyward, Jr.

    Thomas Lynch, Jr.

    Arthur Middleton

    Massachusetts

    John Hancock

    Maryland

    Samuel Chase

    William Paca

    Thomas Stone

    Charles Carroll of Carrollton

    Virginia

    George Wythe

    Richard Henry Lee

    Thomas Jefferson

    Benjamin Harrison

    Thomas Nelson, Jr.

    Francis Lightfoot Lee

    Carter Braxton

    Pennsylvania

    Robert Morris

    Benjamin Rush

    Benjamin Franklin

    John Morton

    George Clymer

    James Smith

    George Taylor

    James Wilson

    George Ross

    Delaware

    Caesar Rodney

    George Read

    Thomas McKean

    New York

    William Floyd

    Philip Livingston

    Francis Lewis

    Lewis Morris

    New Jersey

    Richard Stockton

    John Witherspoon

    Francis Hopkinson

    John Hart

    Abraham Clark

    New Hampshire

    Josiah Bartlett

    William Whipple

    Massachusetts

    Samuel Adams

    John Adams

    Robert Treat Paine

    Elbridge Gerry

    Rhode Island

    Stephen Hopkins

    William Ellery

    Connecticut

    Roger Sherman

    Samuel Huntington

    William Williams

    Oliver Wolcott

    New Hampshire

    Matthew Thornton

    https://www.archives.gov/founding-docs/declaration…

  105. Laughing. Not at you.

    But you will not get an argument from me that revolutions of structural change of the nature we are discussing cost money (usually) however that does not by definition mean a revolution is about color wars.

    Blacks/african anericans are not at war against whites, but really many are challenging a structure that leans against their interests based color and would like o see some changes.

    ———————-

    On his issue there is an increasing number of people, intellectuals and the others who are making a case against the established economic system. Some of the solutions are revolutionary in nature, even a violent revolution if need be unless change comes. And because the country literally designed a system that actually orchestrated black separation from all things US, including economics, I would bet they have some stake in that call. Whether that is about color or simply about economic fairness, may depend on what side of the class line one is on or the ideological goals associated with change or no change or slow change.

    But in truth, few black are calling to line up whites laid bare for auction block.

  106. Guest0206 says:
    @V. K. Ovelund

    “I am reluctantly prepared to believe that a nefarious financial oligarchy is probably active in the United States, but to fight such an oligarchy, Americans shall need facts, please.”

    The facts may disappoint you. The issue of financial oligarchy is less concerned with particular individuals (like in a witch hunt) but is a SYSTEMIC problem inherent within the capitalist mode of production.

    Financial oligarchy was not born in this century. One can start with an easy and homely (American) read on a subject:1914, Louis D. Brandais OTHER PEOPLE’S MONEY, Chapter I: Our Financial Oligarchy
    http://louisville.edu/law/library/special-collections/the-louis-d.-brandeis-collection/other-peoples-money-chapter-i

    In addition, for a more systemic view on the subject, and if you are not scared of Marxists, another easy read is 1916, Lenin’s Imperialism, the Highest Stage of Capitalism, III. FINANCE CAPITAL AND THE FINANCIAL OLIGARCHY https://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch03.htm

    One should be pleased to see that Americans beat Russians and capitalists beat the communists in raising the issue of financial oligarchy…

    If you are really sharpening the pitchforks and need names, Forbes might be a good start for a source, but as Oxfam will tell you, you may have to travel a bit around the world:
    “THE WORLD’S RICHEST 1% HAVE MORE THAN TWICE AS MUCH WEALTH AS 6.9 BILLION PEOPLE.” https://www.oxfam.org/en/5-shocking-facts-about-extreme-global-inequality-and-how-even-it

    • Replies: @V. K. Ovelund
  107. @Guest0206

    Your reply is interesting and informative on its own merits. I am glad that you have posted it though it does not happen to answer the question I have asked.

    I gather that no one here knows the answer to the question I have asked. That’s all right. If I learn the answer, perhaps I will write the article to explain it.

    • Replies: @utu
  108. “I gather that no one here knows the answer to the question I have asked. That’s all right. If I learn the answer, perhaps I will write the article to explain it.”

    I am not sure you have appreciated the answers. You might want to look at the TARP process.

    The bail outs are the wealth transfers. And while theft, grift, stealing may sound harsh, one can legitimately argue that

    despite poor decision making by financial institutions such as WS brokeridge houses, that cause a major collapse, tax payer has been used to replace capital that was lost and remains lost by organizations that by the guides of actual capitalist guidelines should have been allowed to suffer the consequences of their behavior — a processes that works to discipline the same behavior they engaged in.

    But under the guise of “doomsday” rhetoric the government bailed out those industries well the large actors who they in turn paid themselves first, leaving investors (million unemployed, lost homes, etc). The government rewarded careless, and even behavior that might otherwise have been criminal undr a legal mechanism — TARP. It further rewarded by permitting people to lose their assests (homes) to the very same players. Who in turn were able to resell that which that used to undermine the very system we rely upon.

    • Replies: @V. K. Ovelund
  109. Note: I am not against the wealthy.

    I am very concerned how that wealth is being leveraged unfairly to delimit the democratic system we have while increasing the power and wealth of the wealthy who are not held to the same standard of conduct.

  110. Mefobills says:
    @V. K. Ovelund

    V.K.

    The main thing is that you are well on your way and have a willingness to question things.

    I was hoping you would mine history, and ask me questions in future. It looks like you are doing that already.

    Thanks.

    • Replies: @Mefobills
  111. anon[144] • Disclaimer says:
    @Ellen Brown

    How did we get to accept the stupidest idea that Fed to remain free of partisan politics has to remain independent of the Government ? In this country Government ,union and collective controls have been turned into concepts that tells us that it is ugly unfree illiberal noncompetitive and not pro growth pro job pro prosperity . We have swallowed those lies hook line and sinker. We have dug our own graves and been asked to be proud of the process . Baby boomers are notoriously most resistant to change there views . That entire generation grew up drinking the kool aid of market driven unregulated economy .

  112. Mefobills says:
    @Mefobills

    V.K.

    Try this comment filter:

    https://www.unz.com/comments/all/?commenterfilter=Farrakhan.DDuke.AliceWalker.AllAgree

    It will lead to finance capitalism and finance oligarchy genesis in modern history.

    Far/DDuke notes my comments related to monetary history, so it will be easier on you.

    Hudson (and forgive them their debts) outlines history of creditor overreach back through the bronze age. The book is not online yet, it is only in print form.

  113. @Anonymous

    Liar troll. Obvious. Incontestable. Can’t you people recognize it when you see it?

  114. anon[166] • Disclaimer says:

    Special purpose vehicle – I asked a bank employee what this is. He has no idea . He is a manager .

    The jargon has left a lot enamored and believer of the occult . People no longer offer snake oil but colloidal silver for all or almost all ailments . New name substitutes for old and for old ignorance .

  115. utu says:
    @V. K. Ovelund

    “I gather that no one here knows the answer to the question I have asked. ” – You have asked questions before about financial economics and nobody gave you meaningful answers, iirc. The answers you get quickly escalate into rants about particular pet peeves like oligarchy, Jews, Rothschilds, FED, usury. Economy and financial systems are very complex. In my opinion economy is harder than physics when you try to mathematize it, which you must if you want to have quantitative answers. Imo, very few people really understand the financial system thoroughly. The ones who are the players who know how to take advantage of the system do not need to understand the whole system. Often they are the ones who by changing the rules redefine the financial system of money flows and sinks. They are ahead of what you may find in scientific literature and textbooks. Their objective is to create new money sinks that are within their grasp.

    Do not expect that commenters like Robert White or Mefobills will give you answers.

  116. @utu

    I am NOT an answer machine that answers questions from people that are perfectly able to research their own stuff. I am NOT paid by anyone to answer questions. Sometimes I am forthcoming vis-a-vis questions & answers but invariably I merely drop hints because giving people answers thwarts their own discovery and inclination to conduct their own research if they have questions.

    I was raised by a Chartered Accountant civil servant and always looked to my father for all answers regarding accounting & finance until he died. After I realized that I could no longer get easy answers from my father I had to grow up and conduct my own research as life was no longer easy with easy answers given the expertise I grew up with.

    There is no cookbook for Ponzi Casino Capitalism to reference outside of the criminal rap sheets of the marquee Wall Street investment banks & Bank Holding Companies. An now that BlackRock has assumed power over the Fed & Treasury we are operating by the seat-of-our-pants on the fly.

    RW

  117. @EliteCommInc.

    The bail outs are the wealth transfers.

    All right, but from whom? To whom? How much? When? By what mechanism? Approved by which public official? Under what statutory authority? Via which implementing regulation?

    I do not expect you to answer all these questions. That would be a lot of ask of anyone. I merely note that these are the questions I have.

    Conclusions generally require facts to support them. Before crediting conclusions, I would like some relevant facts. Wouldn’t you?

    It is one thing to say, “Italians make fast cars.”

    It is another thing to state, “At Motor Trend’s test track, with drive and transmission modes set to Sport, the 2017 Maserati Levante SQ4’s best 0-60 time was a howling 4.9 seconds on the way to a 13.5-second quarter mile at just under 102 mph.”

    The latter gives facts. The latter is, or may be, credible for this reason.

  118. @utu

    Do not expect that commenters like Robert White or Mefobills will give you answers.

    Thank you. As you will have surmised, my questions have two, distinct purposes.

    1. My questions afford commenters like Robert White or Mefobills a chance to give answers if they have them. They might have answers, for all I know. If not, then they might at least know specifically where to look for answers. I can only ask. If they do have answers—indeed, if they have even partial answers—then I am genuinely interested.

    2. If the first fails, then my questions at least illustrate, gently, the flaw inherent in the discussion.

    • Replies: @Robert White
  119. @utu

    Their objective is to create new money sinks that are within their grasp.

    When read in context, that sentence might be the single most interesting sentence I have read thus far during the year 2020.

  120. “All right, but from whom? To whom? How much? When? By what mechanism? Approved by which public official? Under what statutory authority? Via which implementing regulation?”

    since it added to the federal debt, the money is coming from the public — tax dollars, payments for government services, visits to national parks . . .

    The mechanism I noted was TARP, another are the repos which are, i suspect also the result of the the ;at crisis — before this one and the one’s previous, that just get subsumed into the national treasury.

  121. excuse the grammatical errors.

    After WWII the Us was in a very unique position as the sole developed country that had an intact industrial infrastructure, essentially untouched by war. Up until the late 1970’s, government investments or bailouts in industry made some sense, because it was in fact an investment in its population. But as the industrial base departed and wealth shifted from production to higher tech businesses and the financial sector —- bailouts or government contracts in the same actually funneled money to fewer and fewer of the nation’s population but instead to owners and investors as us citizens were losing employment ——

    those owners and investors wealth soared and the general publics decreased. And as the government and businesses designed mechanisms, i.e. – removing glass segel from the equation — what occurred was essentially a marriage between them in which government worked for business who who increasingly making money by hiring fewer and fewer citizens —-

    imagine a hedge fund of ten employees responsible for 500 mil. losing that money and then coming to the government via tarp or what have you and obtaining a loan or a grant. I won’t even discuss the matter of how that money was to be repaid. And the first order of business for tat hedge — pay themselves first.

    ——————————

    legal wealth transfer, tax breaks for businesses that hire illegal immigrants or foreign workers or simply move their production overseas

    check out NAFTA, in less than 15 years Mexico GDP soared by 500% putting them in par with Great Britain. where did most of that wealth come — the US production heading south —– who benefited the most — Mexico’s top ten percent,. Instead of illegal immigration decreasing, it increased.

  122. @V. K. Ovelund

    Straw man arguments are boring, V.K.O.

    RW

  123. Ellen says: • Website
    @V. K. Ovelund

    Hi, I haven’t actually read the bill, which is 247 pages; but here is the Fed’s initial press release on the various new SPV facilities backed by the Treasury’s Exchange Stabilization Fund — https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323b.htm
    And here is a good Boston Review article describing it as a slush fund —
    http://bostonreview.net/class-inequality-politics/andrew-elrod-mark-engler-meet-bailouts-new-slush-fund

    • Thanks: V. K. Ovelund
    • Replies: @Ellen
  124. Ellen says: • Website
    @Ellen

    Another cite: here is a release from the Congressional Research Service dated April 10, 2020 titled
    “Treasury’s Exchange Stabilization Fund and COVID-19” —
    https://crsreports.congress.gov/product/pdf/IF/IF11474
    It states:
    As part of the U.S. government’s economic response to the
    Coronavirus Disease 2019 (COVID-19), the Coronavirus
    Aid, Relief, and Economic Security Act (CARES Act; H.R.
    748/P.L. 116-136), was signed into law on March 27, 2020.
    It appropriates $500 billion to the U.S. Department of
    Treasury’s Exchange Stabilization Fund (ESF) to support
    loans, loan guarantees, and investments for businesses
    affected by COVID-19. In addition, the act temporarily
    permits the use of the ESF to guarantee money markets, as
    occurred in the 2008 financial crisis. ESF assets have
    already been pledged in 2020 to backstop several
    emergency lending facilities created by the Federal Reserve
    (Fed) in response to COVID-19.

    • Replies: @V. K. Ovelund
  125. @Ellen

    The Congressional Research Service report you have last linked answers the main part of my question. It also affords a basis for further study. Cogently written by an informed person who does not obfuscate but wishes to be understood, the report is helpfully targeted at the tier of readers of The Wall Street Journal. Just what I wanted. Thank you.

    One often hears that congressmen fail to read bills before passing them. That may be so but, apparently, Congress at least has someone on staff who does read bills. (The first author of the linked report—that is, the person on staff who, as it would seem, read the bill—appears to hold a master’s degree in economics from a non-elite school. I had vaguely been expecting the first author to be an attorney and/or an Ivy League graduate, just because that’s how these things seem to work, but apparently not in this instance.)

    The whole report is interesting, including the references at its end, but here is what seems to be its most relevant paragraph:

    These facilities were authorized under the Fed’s emergency lending authority (Section 13(3) of the Federal Reserve Act(12 U.S.C. 343)). Some of these facilities resurrect ones created in 2008 in response to the financial crisis, which extended the Fed’s role as lender of last resort from the banking system to the overall financial system for the first time since the Great Depression. Although the Fed did not rely on the ESF in 2008 and no 2008 facility experienced any losses, Treasury has pledged ESF assets to back several Fed facilities in 2020, in some cases before the CARES Act was enacted.

    • Replies: @Ellen
  126. Ellen says: • Website
    @V. K. Ovelund

    Yes “mission creep” as they say. Thanks for the close read!

  127. Bolteric says:
    @Hannah Katz

    Yep. Own one small Vanguard account and another with VTI stock

  128. Bolteric says:
    @Hannah Katz

    Yep. Own one small Vanguard account and another with VTI stock

  129. @Dr. Krieger

    Black Cube is even more in-your-face.

  130. @TheTrumanShow

    I believe you’re gate keeping for the OHpressed semites that OWN AND FOUNDED Blackrock.

  131. vot tak says:

    “If the corporate oligarchs are too big and strategically important to be broken up under the antitrust laws, rather than bailing them out they should be nationalized and put directly into the service of the public.”

    I agree.

  132. Ellen Brown says: • Website
    @Dr. Krieger

    That’s really interesting on Saturn. I tried to google it but couldn’t find it. Do you have a link? Thanks.

    • Replies: @vot tak
  133. @Ron Unz

    I would gladly read future articles by Ellen Brown. Her conclusions are interesting (I do not know whether the conclusions are right but they are interesting). However, that is not why I write. I write because the supporting data that back the conclusions are even more interesting.

    More writing by Brown at your discretion would be well received.

    • Replies: @Ellen Brown
  134. vot tak says:
    @Ellen Brown

    It is trolling horse manure, like 90% + of the comments on this site.

  135. Ellen Brown says: • Website
    @V. K. Ovelund

    Thanks VK! I’m working on it.

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