Susan Brooks Thistlethwaite
Professor, Chicago Theological Seminary

Susan Brooks Thistlethwaite

Former president of Chicago Theological Seminary (1998-2008), Thistlethwaite is a senior fellow at the Center for American Progress.

 ALL POSTS

Den of Thieves

"Then Jesus entered the Temple and drove out all who were selling and buying in the Temple, and he overturned the tables of the money changers..." (Matthew 21:12) When Jesus drove the money changers out of the Temple in Jerusalem, he took on the brokers who were ripping off the pilgrims who came during Passover. These brokers (bankers) were in cahoots with the priestly class who ran the Temple and together they would cheat pilgrims out of the just price of their offerings. The bankers would sell their own Temple coinage in exchange for foreign money at a very high rate of exchange.

The Temple in Jerusalem was in a sense the national bank of Israel in Jesus' time; it was a powerful national treasury that did not let its great wealth sit idle. The bank lent the money it collected at very high interest rates. These unjust lending practices drove many residents into extreme poverty and created the vast slum dwellers of Jerusalem. The Jewish historian Josephus wrote an account of the huge debts owed by the poor to the rich in the Jerusalem around the same period.

Yes, credit and debt are religious issues! Jesus plainly thought so, to the point where he physically disrupted the largest national bank in Israel during the height of its Passover practices of ripping off poor and even more affluent pilgrims. Temple practices that hooked the poor on high interest credit and drove them into debt were the target of Jesus' anger.

The practice of exploiting the poor and the middle class is not new; what is new today, however, is that we have abandoned everything we learned in this country about how to control the worst of these banking abuses. In the mid-twentieth century in this country we had figured out that the markets needed to be regulated and had introduced practices to oversee lending practices and reign in at least the worst of the sinful human impulse to greed and exploitation. The Great Depression of the 1930's was in part a result of Herbert Hoover's over-confidence that business would regulate itself. After the Depression, regulations were put in place to restrain the most extreme and risky practices of financial markets.

That is, these regulations were in place until the "Reagan Revolution" and the tide of free market economics that is now drowning the American economy. James K. Galbraith, the Lloyd M. Bentsen, Jr. Professor of Government/Business Relations at the University of Texas in Austin, places the blame for today's market meltdown squarely on deregulation. "Revolutions devour their children. Deregulation has been the public faith of the financial sector since Reagan. Under Bush II, waves of predatory finance in housing were aggressively promoted by Alan Greenspan, by McCain's closest economic adviser Phil Gramm, and by so-called regulators who systematically subvert the public interest." Paul Krugman of Princeton University today said that, as chairman of the Banking Committee, Phil Gramm bears responsibility for the current credit crisis. "We could have another Great Depression if we really work at it and Phil Gramm is the guy to do it."

But this current multi-sector meltdown is not merely the result of deregulation, but a failure to create new regulation for new financial instruments that, for example, allowed lenders to transfer their credit risks, i.e. mortgage defaults, to third parties and passing the losses on, creating what has been called "a massive global gamble." Add this chain reaction risk to the fact that high-risk loans, even "piggyback" loans where a loan for the down payment is "piggybacked" on the regular mortgage, and the risk becomes even greater. The gamble was that the credit house of cards built on greed would not fall. It has fallen.

Markets are not ethical instruments; they are not "self-regulating." Markets are driven by the drive for acquisition. Regulations are designed to limit destruction wrought by greed, while not stifling the productivity of markets.

The moral failure here is that those who were charged with protecting the public interest from runaway greed and unfair lending practices instead have shown that they are the ringleaders of the Den of Thieves.


By Susan Brooks Thistlethwaite  |  September 16, 2008; 7:34 AM ET Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati  
Previous: Economy Built on Wishes and Wants | Next: If We Rely On Faith To Fix The Economy, We'll All Need Charity

Comments

Please report offensive comments below.



Matt 21:12-13 as per almost every historic Jesus exegete, Jesus really did say, "Jesus entered the temple area and drove out all who were buying and selling there. He overturned the tables of the money changers and the benches of those selling doves. "It is written," he said to them, " 'My house will be called a house of prayer, but you are making it a 'den of robbers.'

For this impulsive act, the Roman soldiers took Jesus and hung him on a cross. As per many historic Jesus exegetes, there was no trial.

John's version- "When it was almost time for the Jewish Passover, Jesus went up to Jerusalem. In the Temple courts he found men selling cattle, sheep and doves and others sitting at tables exchanging money. So he made a whip out of cords and drove all from the Temple, both sheep and cattle; he scattered the coins of the money changers and overturned their tables. To those who sold doves he said: 'Get out of here.' (John 2:13-16)

This appears to be more about the sellers of animals than about money changers. We should at least give equal condemnation to first century peasant farmers.

And Jesus was a simple preacher man. How, pray tell, did he know anythig about money exchange rates?????

Bottom line: Jesus' wrath that got him killed was due to animals smelling up the temple and being sold there so stop equating brokers on Wall Street with a biblical den of thieves.

Posted by: Concerned the Christian Now Liberated | September 22, 2008 8:26 AM
Report Offensive Comment

This situation has nothing to do with religion except that it is a symptom of the last 40 years to put the "Prosperity Gospel" ahead of the true teachings of Christ.

We have turned our Christian faith on its head and given our worship to self-appointed princes who solicit funds in the mass media and build themselves massive mansions, empires and amusement parks.
No, faith has nothing to do with it. This is about greed and egotism.

Posted by: Viejita del oeste | September 21, 2008 4:22 PM
Report Offensive Comment

Sorry, but deregulation started WAY before Reagan. Airline deregulation started in 1978 under Carter.

Posted by: Owen | September 19, 2008 2:59 AM
Report Offensive Comment

Susan:

"Then Jesus entered the Temple and drove out all who were selling and buying in the Temple, and he overturned the tables of the money changers..." (Matthew 21:12) When Jesus drove the money changers out of the Temple in Jerusalem, he took on the brokers who were ripping off the pilgrims who came during Passover. These brokers (bankers) were in cahoots with the priestly class who ran the Temple and together they would cheat pilgrims out of the just price of their offerings. The bankers would sell their own Temple coinage in exchange for foreign money at a very high rate of exchange.

The Temple in Jerusalem was in a sense the national bank of Israel in Jesus' time; it was a powerful national treasury that did not let its great wealth sit idle. The bank lent the money it collected at very high interest rates. These unjust lending practices drove many residents into extreme poverty and created the vast slum dwellers of Jerusalem. The Jewish historian Josephus wrote an account of the huge debts owed by the poor to the rich in the Jerusalem around the same period.

Yes, credit and debt are religious issues! Jesus plainly thought so, to the point where he physically disrupted the largest national bank in Israel during the height of its Passover practices of ripping off poor and even more affluent pilgrims. Temple practices that hooked the poor on high interest credit and drove them into debt were the target of Jesus' anger."

You do astonish, even in this moment of questioning how it is we have come to be treated like children by a corrupt and inept government and press, not to mention a clergy that is often no better.

I have no reason to think you're immoral, but for awhile, I've suspected that a significant amount of grey matter made a swift detour at your birth. The nonsectarian evidence for these astounding assertions? Any defense of the all-but-dismissed Josephus?

Have you folks not robbed the temple blind? NOt to mention another people's Testament? Duh. Really, whom are you kidding.

Posted by: Farnaz | September 18, 2008 9:08 PM
Report Offensive Comment

I'm a bad actor myself, so instead of bringing down the house I end up emptying it. I'm not a crook. Morgan Stanley and Goldman Sachs are both looking wreckable, so I don't think the bailout plan is working very well.

MoSt says: "The innovative loan products available through this site are based on a strategy we call Total Balance Sheet Management. It may change the way you look at mortgages forever."
http://www.morganstanleyhomeloans.com/home.aspx

I'm looking at doing forever alone here with no mortgage.
What the heck is 'Total Balance Sheet Management'?
Everything seems to be out of balance and you can see what management is doing for everybody with a mortgage. Why not a simple tagline like, At MoSt we'll rip you off, just not as much. Then there's Goldman: We lost the Gold man. Hope you find some, you'll need it.

Posted by: Anonymous | September 17, 2008 7:09 PM
Report Offensive Comment

The street is going to get dreary for some time to come. This fraud is nothing new and people are going to get hurt bad. Other people are all set, other still are set up to take action. It's going to get uglier.

Posted by: O50 | September 17, 2008 5:48 PM
Report Offensive Comment

The collapse is good for Wall Street. You need these things every so often to get rid of all the bad blood. The best part of Wall Street will only get better in the long-term. It's a natural process. It's going to get wilder.

O50
5 years ago: NYSE chairman Dick Grasso resigned amid a furor over his $139.5 million pay package.

Things are looking different today. Don't be a Dick.

Posted by: O50 | September 17, 2008 5:43 PM
Report Offensive Comment

One theme I hear from some theologians, (not here, but I'm kind of hoping the thread could be of the right timbre) is something like this:


"This just shows how greed brings about a fall."


To which the answer is, 'No, it *didn't.* The CEO of Lehman Bros got hundreds and hundreds of millions out of that gig... He got 92 million dollars for getting *fired* after fracking it all up betting with other people's money...* He *ain't chastized. *

This is about what certain individuals used 'righteousness' to sell people on and distract them from.

And, can you believe that Bush and McCain wanted to bet our *Social Security* on the same markets and practices?

Posted by: Paganplace | September 17, 2008 5:41 PM
Report Offensive Comment

"Just to live by writing"
Capitalism protects the natural world. That's why we have quality of life. The financial crisis threatens the environment and wild creatures are my friends. I like them better than a lot of people I have known. The wonders of high finance are but another wild thing. Some of the post here are wild, with no brain life to them. You know who you are. Now we have the boys writing about the commanding heights of socialism fixing the problems, so we get to all pay bail for a housing fix and an AIGood time. A pack of wolves knocking at the door. Another crisis is about to unfold, so hang on tight. London calling.

"If I had influence with the good fairy who is supposed to preside over the christening of all children, I should ask that her gift to each child in the world be a sense of wonder so indestructible that it would last throughout life."

Posted by: Anonymous | September 17, 2008 5:04 PM
Report Offensive Comment

Oops, make that Bottom line:

Jesus' wrath that got him killed was due to animals smelling up the temple and being sold there so stop equating brokers on Wall Street with a biblical den of thieves.


Posted by: Concerned The Christian Now Liberated | September 17, 2008 4:39 PM
Report Offensive Comment

Matt 21:12-13 As per almost every historic Jesus exegete, Jesus really did say, "Jesus entered the temple area and drove out all who were buying and selling there. He overturned the tables of the money changers and the benches of those selling doves. "It is written," he said to them, " 'My house will be called a house of prayer, but you are making it a 'den of robbers.'

For this impulsive act, the Roman soldiers took Jesus and hung him on a cross. As per many historic Jesus exegetes, there was no trial.

John's version- "When it was almost time for the Jewish Passover, Jesus went up to Jerusalem. In the Temple courts he found men selling cattle, sheep and doves and others sitting at tables exchanging money. So he made a whip out of cords and drove all from the Temple, both sheep and cattle; he scattered the coins of the money changers and overturned their tables. To those who sold doves he said: 'Get out of here.' (John 2:13-16)

This appears to be more about the sellers of animals than about money changers. We should at least give equal condemnation to first century peasant farmers.

And Jesus was a simple preacher man. How, pray tell, did he know anythig about money exchange rates?????

Bottom line: Jesus' wrath that got him killed was due to animals smelling up the temple and being sold there so stop equating brokers on Wall Street with a biblical den of thiefs.

Posted by: Concerned The Christian Now Liberated | September 17, 2008 4:09 PM
Report Offensive Comment

"All at once, it came back to me that the thing to do was to go back to the first principles of banking and get away from service charges."
From The Bankers Den

It's always the same old fashioned thing. Deposits take up the slack and pay expenses. Business improves from there and you end up with more deposits and expenses are fixed. In other words, you can't control profits you can only control expenses. We are seeing Wall Street getting away from service charges and investors charging for the exits along with employees. First things are always first, so the thieves can't charge you for services. They shouldn't of to begin with and now there you have it. After marketing lower fees, it goes back to the future and in the get away car are no fees and a lot of cash. Use an armored car, it's much safer with all those thieves out there one can't be too carful. Duty calls and cash gets you Above and Beyond. Avoid the plastic and dotcom daydreams of a golden future and keep your vaults full of good green and gold. And for the sake of fashion, buy a new dress. It's good for the economy and a stitch in time saves nine.

Kid Art, All For Them None For Me
I'll do without and I do.
http://humanities.byu.edu/ELC/student/idioms/proverbs/stitch.html

Posted by: Anonymous | September 17, 2008 2:49 PM
Report Offensive Comment

It is a mortal sin to lend money for interest.
You are not a Christian if you do so.

Posted by: Veritas | September 16, 2008 8:34 PM
Report Offensive Comment

"Vast and growing wealth disparities may violate many religious principles, but that's much less important than the fact that entrenched economic injustice is bad for society as a whole and ultimately leads to a breakdown of social consensus."

Well, gee, our corporate CEO made 8 million dollars in one day from his stock options not two months ago, and now that our stock has fallen he wants to cut jobs, and is playing a cruel and inhuman game, offering everyone over 55 the choice of either taking an miserly early retirement package or gambling that they won't be one of those laid off in his planned cuts. If you are still in your 50s you probably can't afford to take retirement, so what do you do, gamble and lose the package benefits or take the early retirement and gamble that you will somehow be able make it until Social Security kicks in? Our society is sick. Our CEOs are so used to sucking money out of the companies they head that they can't see what they are doing to America's economy. B**tards. The conservatives keep calling for cuts in Social Security benefits and Medicare costs, without proposing any replacements. They could care less how many millions of people they hurt with their policies, because the population of the US is over 300 million and rising. Who cares about a few 10s of million people here or there? What they are ignoring is that they are screwing millions of Americans who have worked all their lives for the good of American, and are being thrown aside on the trash heap. The corporate elite are the real traitors to America, and that crowd includes people like Dick Cheney, George W. Bush, and John McCain, in fact the entire Republican party, since they have supported and backed the people who are responsible for the economy we have today. There is no place in a just and honest country for people like this.

Posted by: Chagasman | September 16, 2008 7:41 PM
Report Offensive Comment

Den of thieves is too kind by half - the fiscal collapse of Wall Street was inspired by over-arching greed, exponentially increasing risk-taking and over-extensions, and outright compulsive gambling behavior that would shock the biggest loser in Las Vegas.

And all of this was both enabled and encouraged by a fundamental lack of government oversight. Obviously mortgage consumers were not without blame - especially the 'turn-around' specialists that got holding the bag. What a house of cards!

On the other hand, the CEOs and various fiscal meistros that engineered the mighty Wall Street downfall we see today have their collectives asses covered - have they lost a personal dime? Nyet - the money is offshore. Investors are taking the bath, and the government is bailing everyone out with taxpayer money.

Had we only known a year ago during the initial crisis, we could have put all that stock market money in bonds - but nobody told anyone that didn't have 'a need to know'. A financial collapse has more than one phase.

Old fashioned savings accounts are beginning to look better by the day.

PS. I really wish the republicans would stop being such whiners and poor sports - little Sarah Palin has been unfairly treated and even mocked by her Saturday Night Live portrayal - this crybaby critique from Cindy McCain herself, who didn't lose a dime on Wall Street, I'm betting.

The McCain people are cutting out the press as we speak - no more impromptu interviews for Sarah. The poor thing needs protection from the MSM - hard to believe, when they've been such McCain suck-ups for the last year or more!!

What's good for the goose, is good for the gander, as the saying goes. And nasty is as nasty does - Swiftboaters get swiftboated. Pure Karma!!

Posted by: common sense | September 16, 2008 6:27 PM
Report Offensive Comment

I think you've gone a little overboard in lumping credit derivatives as a technique in with larger issues that do have moral meaning. Standing back, it seems clear that the legitimate moral issues are questions of large-scale resource use and the interface between the consumer and corporations:

--all parties in society must acknowledge the existence of common need and the legitimate role of the public sector in managing common interests. Radical anti-government or libertarian ideologies need to be firmly and openly opposed by churches. Corporations must be willing to pay their fair share of taxes to support the common good and must take part in good-faith public dialogue on what that share should be.
--creditors must not be lend money in quantities or rates that virtually guarantee failure of the loan and ruin of the borrower. Consumer law should be in place to ensure this does not happen. Consumers who demand such loans should be denied and possibly referred to counseling for their own good.
--executives and insiders should not be given privileged compensation that takes up an unfair portion of the wealth of the enterprise in relation to workers and shareholders. Rules and laws should be in place to prevent corporations from being looted by insiders at the expense of shareholders, customers, and workers. The Reaganesque notion that executives "create value" by some mystical, ethereal powers of personality which justify their excess compensation needs to be vigorously rejected. True enterpreneurs extract their wealth from the enterprise by being shareholders.

Remember that the institutions of self-governance which make up modern American government and business corporations were originally developed by Protestant reformers to prove that individuals could responsibly handle secular governance in a manner consistent with Christian values. It places a burden on Protestants to not allow self-governing mechanisms like corporations and governments to become mere shells manipulated by the greedy for purposes other than the common good...

Posted by: Rich | September 16, 2008 4:49 PM
Report Offensive Comment

Self regulation where ever it has been sold to us has failed. Foxes have never made good guards in the hen yard. As the fox looks at the chicken, so the ultra-elite rich look at those not like them, these others are non-persons.

Posted by: Bill | September 16, 2008 4:44 PM
Report Offensive Comment

Morality can be expressed simply by the saying, "we must all hang together or we will hang separately." Hanging together is the essence of morality. Those who would exploit any resource for their own benefit, without regard for the needs of others like themselves, are immoral, and have the capability to bring all of us to ruin. This is a lesson that cannot be learned in one lifetime, maybe not even in several, but it is a lesson that any educated and experienced human being knows well. What we have not yet learned is how to deal with the immoral among us when they have achieved great power, and can no longer be held morally accountable. Democratic government is the treatment we have been experimenting with.

Posted by: L.Kurt Engelhart | September 16, 2008 4:42 PM
Report Offensive Comment

--- On: U.S. Banker Cartels. A Secret Mafioso

From the Federal Reserve Banking System to President Bush's secret police, the United States is quickly changing from the "land of the free" to one more military state, little different from those the world has seen throughout history, most recently in Nazi Germany and the USSR.

The Federal Reserve Banking System
"Give me control of a nation's money and I care not who makes her laws."
Meyer Rothschild

For the last 98 years a private corporation has run the United States of America. Article I, Section 8, Clause 5, of the United States Constitution provides that Congress shall have the power to coin money and regulate the value thereof and of any foreign coins.

But that is not the case. For nearly a century the United States government has had no power to issue money, control the flow of money, or to even distribute it.
That belongs to a private corporation registered in the State of Delaware, the Federal Reserve Bank.

In 1836 President Andrew Jackson abolished the "Bank of the United States", America's central bank and then eliminated the national debt without having to impose an income tax.

In 1913 under pressure of blackmail, President Woodrow Wilson established the Federal Reserve System under the premise of "supplanting the dictatorship of the private banking institutions and to stabilize the inflexibility of national banknote supplies".

Representative Charles A. Lindberg, Sr., the father of the famous aviator, was a member of the Banking and Currency Committee. He opposed the Federal Reserve Act and gave a speech on January 20, 1915.

"The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money, and in the interest of the stockholders and those allied with them." Unfortunately he was not listened to.

With the creation of the Federal Reserve a new currency was issued, the Federal Reserve Note. Take out a one-dollar bill and read what is printed across the top. The Federal Reserve was to unite and supervise the entire banking system, control the expansion or contraction of currency, and regulate the flow of money to the commercial banks through the establishment of 12 Federal Reserve Banks.

The Federal Reserve is controlled by private banking interest and by Presidential appointment - but it is still a private organization and not a government entity.

In 1913, President Wilson's creation of the Federal Reserve System established a three-tier monetary system in the United States - the holders of money (public, government, business and institutions; the commercial banks that borrow from the public and issue loans; and the central bank or Federal Reserve that has a monopoly on the issuing of money. The

Federal Reserve and not the government now controlled the monetary policy of the United States. This is in direct violation of the United States Constitution.

On April 27, 1936 the United States Congress tried vainly to rest control of the monetary system back with bill HR92163. The preamble of this bill stated "The committee had under consideration the bill (HR 92163 to restore to Congress its constitutional power to issue money and regulate the value thereof; to provide monetary income to the people of the United States at a fixed and equitable purchasing power of the dollar, ample at all times to enable the people to buy wanted goods and services at full capacity of the industries and commercial facilities of the United States; to abolish the practice of creating bank deposits by private groups upon fractional reserves, and for other purposes.". Under pressure from the banking industry, the bill never became law.

On June 4, 1963 John F. Kennedy issued Executive Order 11110. This order called for the issuance of a new currency, the "United States Note". $4,292,893 of this new currency was actually placed into circulation. The new currency was to be distributed through the U.S. Treasury and not the Federal Reserve. President Kennedy dismissed the Federal Reserve System and ordered the U.S. government to restore its Constitutional mandate of controlling the money.

Three weeks later, President Kennedy was assassinated. Lyndon Johnson's first act upon taking over the office of President was to rescind executive order 11110, and all the new currency was taken out of circulation.

In 1957 Senator George Malone of Nevada, while speaking of the Federal Reserve, said, "I believe that if the people of this nation fully understood what Congress has done to them of the past 49 years, they would move on Washington (revolt), they would not wait for an election… It adds up to a preconceived plan to destroy the economic and social independence of the United States." That was 45 years ago.

With the creation of the Federal Reserve Corporation, came income taxes. With income taxes came the Internal Revenue Service, which is also a private organization and has no organizational or legal ties to the U.S. Treasury or any other government organization. It is a private industry built for the collection of taxes to be paid to the Federal Reserve Corporation, NOT the federal government. This is to pay interest on money loaned to the government by the Federal Reserve.

More that half the shareholdings in the Federal Reserve Bank are controlled by large New York City banks, including National City Bank, National Bank of Commerce, First National Bank, Chase National Bank, and Marine National Bank. When Rockefeller's National City Bank merged with J.P. Morgan's First National Bank in 1955, the Rockefeller group owned 22 percent of the shares of the Federal Reserve Bank of New York, which in turn holds the majority of shares in the Federal Reserve System - 53 percent.
But who really owns what? Here arc the top controllers of the Federal Reserve Bank

1. Rothchild banks of London and Berlin.
2. Lazard Brothers Banks of Paris.
3. Israel Moses Seif Banks of Italy.
4. Warburg Bank of Hamburg and Amsterdam.
5. Lehman Brothers Bank of New York.
6. Kuhn, Loeb bank of New York.
7. Chase Manhattan Bank of New York, which controls all of the other 11 Federal Reserve Banks.
8. Goldman, Sachs Bank of New York.

The Federal Reserve Bank has challenged this ownership combination, but a study of Standards and Poor will verify the ownerships. This means that the controlling interest of our national monetary system is foreign.

In 1797, John Adams wrote to Thomas Jefferson, "All the perplexities, confusion and distress in America arise, not from defects of the Constitution or Confederation; not from any want of honor or virtue, as much as downright ignorance of the nature of coin, credit and circulation."

In simple terms, the United States Government borrows money from the Federal Reserve Bank with interest.

Let's say that the Government wants $1 billion. The Federal Reserve prints $1 billion - based upon no hard asset and lends it to the Government at a high interest rate. The bank did not have the original money; it created it and made a bookkeeping entry. Like you writing yourself a check without funds and cashing it.

The Federal Reserve controls the flow of money, making it tight and creating unemployment or printing more than actually exists and creates inflation.

It is, in essence, a paper corporation, which controls the entire economic well being of the nation. The National Debt is based upon this money, borrowed from the Federal Reserve, which controlling interests are foreign investors.

If the Federal Reserve disappeared today and the Federal Government issued it own money, these loans would go away along with their interest payments. When this happens the National Debt ceases to exist along with the need for income taxes.

In 1929 the dollar was based on gold, meaning for every dollar in circulation there was an equal amount in gold. The Federal Reserve Bank of New York exported over $111 million in gold to France and England. The other banks of the Federal Reserve followed suit. Once nearly all the gold was removed from US banks, it was decided to remove the US dollar from the gold standard and prohibit the ownership of gold in this country.

As of 1993, the Federal Reserve Bank of New York had $128 billion of gold in its vaults, based on a price of $35 per ounce that the Federal Reserve has basically sold to itself through foreign interests under its control.

As long as the American public continues to use the Federal Reserve Note for buying and selling, instead of gold or silver coin, or currency backed by gold or silver; they are under the control of the Federal Reserve Corporation and it's shareholders.

No Congress or President has been strong enough to stand up to the foreign-controlled Federal Reserve Bank.
Yet there is a catch, one that President Kennedy recognized before he was slain.

The original deal in 1913 creating the Federal Reserve Bank had a simple back out clause. The investors loaned the United States Government $1 billion. And the back out clause allows the United States to buy out the system for that $1 billion. If the Federal Reserve Bank were bought out and dismantled; and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself.

Thomas Jefferson was concise in his early warning to the American nation,

"If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."

Rep Jack Metcalf's speech to Congress - Sep 1999

End Of Article

I have to say in the interests of full disclosure that I am a Canadian citizen.

I Love America and it's people. They are good and kind and decent and hard working.

When I was 20 years old I was working as a junior in an accounting firm and about 1:00 PM on the 22ND of November while adding up some numbers I heard on the radio where I was working the News of the JFK shooting.

I went home immediately. I could NOT work anymore that day. I watched my TV for 3 days including seeing Oswald get shot.

Why am I NOT Surprised that Kennedy was your ONE modern day President who wanted to abolish the Federal Reserve.

A Great Man and a True American Hero and President.

God Bless America.

Maybe when the whole system falls apart and Gold is at $3000 and the US $ at .01 then The Federal Reserve will be abolished like Kennedy wanted for All FREE Americans.

---

Credits To: http://www.usagold.com/cpmForum/archives/720031/default.html

---

V O T E: Abolish & Repeal the U.S. Federal Reserve & more Today, not Tomorrow!!

Ps: ASSASiNATE All the Evangelicals [Religio Finatics] Leaderships & Their Master Satanic Manipulator BUSH(s), not CHAVEZ!

note: The Reagan/Bush's invited the CHURCH's [Religio MAFiOSO's in Secular Garb & Divinity Degrees] into STATE BiZ & openly Usurped & Flouted & Hijacked The Holy U.S. Const/Clauses.

And Now Attempted to Pick a Fight, while in Biejing Olympics, With Modern Russia via Georgia to reflect Blame away from Them Evilgelicals & their Investment Bankers (Owners of the illegal Federal Reserve!)!

Please See FED:
http://en.wikipedia.org/wiki/Federal_Reserve

VOTE: Remove George W. Bush's "Church Based [$2.Billion] Initiative" Moneys [Tax Payers, not Evangelicals] Today, not Tomorrow!


Incarsarte the Players & Remove All ASSETS & MONEYS From them "Private Bankers", aka Robber Barons & Captains of Industry Illuminati's, Now!

Take Back Ye CONSTiTuTION America! Or It will Never Be the same Again!

VOTE: OBAMA-BIDEN! , Includes All LIBERALS! If Ye Snooze Ye Looz! Maybe RON PAUL was Right??


------------- PS: LIBERTARiANS were Right about the Bush's/McCains/Palins!

Paid For & Approved by the "Gridarian DEmocracy & Trans{Finite Civilization Movement 2-13+!

Posted by: We 'the-People' must contain Hyper-Inflation & religio finatics, Not Russia | September 16, 2008 3:00 PM
Report Offensive Comment

Marsha Christ: Well one thing for Sure; personally I think that word No in our 1st AMENdment "Congress shall make no law respecting an establishment of religion.." Is A Shame Before GOD!

Marsha,
You don't like the 1st amendment? Than get out. Leave. Find a new country that lets you practice your religion as you wish. That allows you to blog about what you believe...Oh Wait... YOU CAN'T. American is one of the only countries in the world that allows it's citizens to speak up, to proudly proclaim their religion. It's been a refugee for the religiously oppressed since it's founding. No it's not always perfect, mistakes have been made, there is no denying that, but as a country we at least make the effort to our best.

The current crisis has nothing to do with the 1st amendment or the freedoms it provides. It has everything to do with pure plain greed.

Posted by: ProudPagan | September 16, 2008 2:19 PM
Report Offensive Comment

"A deal by Google Inc and Yahoo Inc to share some advertising revenue will mean less money for newspapers and weaken Yahoo in the long run, the World Association of Newspapers said on Monday."

With no newspapers the news will look like these posts down under. They can shake the foundations, they can't move them. I'd get Google off of your newspaper website. Once in they are going to cause more trouble than they are worth. It's a rat trap to destroy market share and give more money to Google or Yahoo. It's toxic. I know, it is all don't be evil and BS. We are your pals, trust us we like you. Like hell. A web of thieves, not a den.

Posted by: 66 | September 16, 2008 12:58 PM
Report Offensive Comment


--
Imagine if Panama [John McCains Birth Place] was attacked/invaded , by Mr. Chavez, not by Mr. Saakashvilli, aka sack-a-shiat, via Venezualia? Or

Imagine Cuba attacked/invaded Puerto Ricans (like Ossetians & Abkhazians have Russian Passports, they have American Passports)???????

Mr. Zakaria; Ye DEvilishly & Freudiantly slipped & saith;

".. Moscow's attack on Georgia .." ????????

"Moscow's attack on Georgia was, for McCain [Obama?], the "first serious crisis since the end of the Cold War." [1990]. WOW! WOW! WOW!

Note: Mother/Father Russia Does not Want Caucus Geargia! To Russians , who Clothed them, saved them, educated them & fed them Georgians {they should pay SweewtSweet Russia back] That

Commy STALiN was Georgian & he Mass Murdered 7/8 Million Russians but only 100,00 Georgians.??

Note again: Them Caucus-Georgians are worse than Gypsys! Go live with them & you will see why. Russians Call them , "The People From The ABROAD!" Sooo Mr Fareed,


No, No No! You should, instead, rightly sayth to ye audience here & there, the TRUTH (opposite of Myth, or self serving Lies) Thus,

"In Moscows Defense of It's Friend Ossetia & Abkazia {neighbors].. That Preemptive Trouble maker & Attacking Georgia [an American Puppet Regime that had Chaney/Bushs Blessing, before hand, aka Conspiracy to provoke War & to Distract other Ailing American Issues at Home & Abroad]"

Note: Georgia has a large deposit of 'OIL" off-shore. So America is saying , to Georgia’s or Americas Puppet , Saakashvilli, aka sack-a-shiat, Your Oil ‘Deposits’ (like Money in the Future so ye can print Currency & back-up by US dollars) ) will cover the Costs of All Our Help To You (past & Future). So pledge your Oil to Us & We will help you rattle Sabers! O.K.??

Incamera (Secret) This is exactly, how ‘Forward Thinking’ , via ‘Script’ them Us Secular Dressed Evangelical Satans (who own 70% of USA GNP & DNP) are. And them Ventriloquists did the Same with Iraqs ‘Proven’ oil Reserves!

---

Note: America Needs WAR Dividends! Not Stock Dividends! Reparations!

Paying U.S. Soldiers [808,000 employees] & Maintaining many Bases [domestic & Abroad] is a major form of Employment here & there & Having Congress Write Checks to Grease their

“MiLiTARY iNDUSTRiAL COMPLEX” [owned mostly by Evangelical base Robber Barrons ] and their 'Captains of Industry' {not to mention their Captains of Industry, like Shearson Lehman & Bro., Lazard, Khun LOEbs, Black-Stone Group, American-Express, RothChild Bankers, Warburgs, Houses etc.. et al] via their 'Commander in Chief' or 'Executive' who's goal is Provoking someone somewhere or Bullying, via nice & Convincing Words, is what America is about with War mongering Armageddon Loving Republicans . Democrats too?

Remember During American CiViL-WAR & WW-1??? Fact: Them ‘Investment Bankers’ Manipulate Leaders of Democracy , Monarchs, Theocracies etc… Thus Satans who play on Both Sides of the War Games.

Example: The Rothchild Bankers of England Lend Money to English Government, and the Rothchild Bankers of France lend money to their Government, etc.., double dealing, double Triply Dipping.??

Example: They (Investment Bankers & their Robber Barons) ‘Financed’ [my Major] the SOUTH (who today own 70% of America via Stock Equity & tax free Church FUNDs) During the CiViL-WAR on One Side, and also simultaneously Financed Civil War on the NORTH side (who is now Left Holding the Bag via today’s Lehmans Scandal & Fannie-may/mac Mortgage Scandal, and remember the , McCain & Keating-5 Savings & Loans scandal , The Evangelical Enrons Scandal(s), DERiVATiVEs Scandals….?, .


AMERiCA is BANKRUPT! Not Only BROKE!
How Much Ye Take America Proletariats?? How Much??

Trivia: Did Ye Know that During the American Civil War, not Mexican War of 1880‘s), Czarist RUSSia helped the NORTH! Secret: Communism Evolved because they rebelled against the Investment Bankers & Their Rober Barons & Captains of Industry whom conspired to Take over Russia & the World!

Hence, Russia ended their Conspiracies or Bankers promoted Addictions, threw them Rober-Barons out! Russia’s Disdain of Fronts like Shearson LEHMAN Bros {“i” used to Trade stocks for a living out of their Headquraters in Park-Ave Manhattan) and Korean Development Bankers Domino Effect , is what Russia Avoided. Hence Why the West (via their pool of Robber Barrons (investment Bankers/Houses) & their addicted Captains of Industry Do not Like ANTi-Investment (dishonest) Western Bankers!!!

Please see: "TAXPAYERS ON THE HOOK FOR 59 TRILLION:"
@ http://newsfromthewest.blogspot.com/2008/05/who-owns-federal-reserve.html?showComment=1211390760000

Trivia: Did Ye Knoweth that if Ye stack $100.00 Dollar Bills flat, that 1-Trillion Buckaroos extends out to 67 Miles High? And That hedge funds' $1.5 trillion, drives half {24 Trillion to 1.5} of the $28 trillion NYSE's daily trading.?? Hence Why Brockerage Firms (Investment Bankers) make money when U.S. Economy & Stocks Go Down & or Up!

Incamera (secret) Did Ye Knoweth that The VAtiCAn BANK (off-Shore & onshores) is the Richest Church (not for Profit on Earth?? Remember the Mysterious Murder(s) of Vatican Bankers Michele Sindona (poisoned) (see Wikipedia) & Vatican Banker/Launderer Roberto Calvi (found Hung on a Brige in London) (see Wikipedia) and the Death of Vatican Trusty Archbishop Paul Marcinkus, the head of the Vatican bank before a massive banking scandal forced him out in 1989 Marcinkus was found dead (forced Heart Attack) at his Sun City home in Phoenix, via the Roman Catholic Diocese of Phoenix.


Please see more here: http://en.wikipedia.org/wiki/Banco_Ambrosiano


Better Exchange worthless U.S. Dollars for intrinsic Russian Rubles! Better Yet, Move To Russia! Russia, since she/He has only 150 Million folks, is now offering ‘Home-Stead’s’ {1,000 Acres Minimum}. Yes!

Imagine a LAND, SEA & BRiDGE & TUNNEL Connection between RuSSIA (East) & ALASKAs WEST?

Note: What or who is the next [Enemy/Scape goat, aka Blame Game] after Iraq ? or Afghanistan? Etc.. going to be??? VENEZUALiA?, Bolivia? CUBA?? Russia?? Iran?? .

SCHAME!….SCHAME!….Crying ScHAME!

Also Posted on WAPO’s Sister Blogg, “PostGlobal” today @ 10:53 AM . Please visit from time to time.

Posted by: Frm: American Proletariat Movement for Gridarian Democracy & Transfinite Civilization 2013+ | September 16, 2008 12:48 PM
Report Offensive Comment

Susan, you sound like a Democratic Party sound bite!!!

Posted by: Concerned The Christian Now Liberated | September 16, 2008 12:07 PM
Report Offensive Comment

Too many houses, too many condos, too many apartments, too many offices, too many shopping centers, too many brokers, too many banks, too many mortgages, too many speculators !!! And the correction begins!!!


No religion involved!!!!!

Posted by: Concerned The Christian Now Liberated | September 16, 2008 10:49 AM
Report Offensive Comment

Presently we have two candidates or sons born from our revolutionary wars, especially the war regarding the oaths and promises sworn on a bible. We have one White Christian Republican son and another Black Democratic one. As I recall; Senator Obama did claim Jesus Christ as his Lord and Savior whereas Sen. McCain has not uttered the words Jesus Christ.

My point; yes the ministers, priest, rabbis and pastors have turned our Fathers house into a Den of Thieves, since each gets substantial tax credits. But I want to talk about the Sons of Fathers Abraham and Lincoln who "still know not what they do" nor will they admit what they have done in the Name of the Lord.

This is because the Good Book aka Bible once thought Good and Necessary for We the People and each President swears his oaths upon, was removed by the Powers that Be; from our Public Views and Schools.

So here is a question for All of US citizens:
Do We the People in the USA know the name of the GOD as they claim? Or did a White Christian body of Government men; use the name of GOD in vain? What is the name of GOD We should Trust, is it Jesus Christ, Uncle Sam, the Almighty Buck or GOD Da..? Well one thing for Sure; personally I think that word No in our 1st AMENdment "Congress shall make no law respecting an establishment of religion.." Is A Shame Before GOD!

America will you respect GOD's established laws i.e., the 10 Commandment? No. You know I really dont recall; GOD giving Adam or Eve that Option.

Posted by: Marsha Christ | September 16, 2008 10:24 AM
Report Offensive Comment

We should not forget the Democrats/Clinton's responsibility in this: http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

Vote 3rd party!

Vote Ralph Nader!

Posted by: FRIEND | September 16, 2008 10:08 AM
Report Offensive Comment

I'm a little Swiss and learned a little about banking. "A greedy person and a pauper are practically one and the same." There are plenty of potential paupers playing us with the market. They're playing with themselves now. Value can't be destroyed, it can only add value and quality pays for itself. There's always a shortage of quality and a surplus of bad ideas. We can afford the future even if some think we can't. Assuming they are thinking like us, which they are not. Go Navy and Go America. The pirates always sink to new lows. Go Above and Beyond the call of duty, Go Air Force.

Posted by: 66 | September 16, 2008 9:57 AM
Report Offensive Comment

The comments to this entry are closed.

 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company