The following made the front page, above the fold, news in the New York Times today, March 29, 2008, (with superman figure added): “TREASURY’S PLAN WOULD GIVE FED WIDE NEW POWER”

“WASHINGTON – The Treasury Department will propose on Monday that Congress give the Federal Reserve broad new authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.” – Edmund L. Andrews, March 29, 3008.

In my opinion, it’s just another covert bait and switch move by the Federal Government to grab more power away from the States and give it to a private (non-governmental) group called the Federal Reserve, which is – as you likely know – not a Federal Agency at all. It’s a group of private individuals (heads of major banks in the U.S. and abroad) that already have enormous power over every aspect of this country through manipulation of the money supply and other methods. Notice that the headline refers to: ” . . . the Fed. . . ” and the writer doesn’t mean the Federal Government, he means “The Federal Reserve.” In my opinion, we’ve already given away far too much power to individuals like the former head of the Federal Reserve, Alan Greenspan.

During his tenure, he set in motion a plan to create the disintegration of the U.S. Dollar: a plan which is gaining momentum daily. The negative global effects of this action cannot be overstated. It’s like what happens when the elephants stampede . . . the aunts suffer without even being noticed. The following depiction – published on October 28th, by cartoonist Robert Ariail – reveals the grim reality of Greenspan’s incompetence during his time as as “Fed head.”

And here is what one noted writer had to say about Greenspan and his antics:

“Alan Greenspan himself wrote an essay for the Financial Times titled, “We Will Never Have A Perfect Model of Risk”, which perfectly sums up the incredible stupidity of this traitorous bastard who used the Federal Reserve to destroy this country. In it, Mr. Greenspan starts out by saying, ‘The current financial crisis in the United States is likely to be judged in retrospect as the most wrenching since the end of the second World War.’ Wow! Pretty strong stuff from the guy who created all this mess and denied all along that anything could happen to the economy that lowering interest rates couldn’t handle.” – Richard Daughty, “The Mogambo Guru.”

I wish I had written those words, which echo my sentiments exactly!

The recent reactive actions on the part of the Treasury to keep the house of cards from collapsing is only to maintain the lifestyle and good ole boys club of the insiders so they never have to suffer or pay for their shady deals (read that as “criminally inept dealings”) that have become commonplace at the highest levels.

It’s a version of the well-known street con, called the Three Card Monte: the one dealing the cards controls the attention of the mark, then by skillfully manipulating the cards so that you win initially – only to take all your money in the end.

This new plan devised by Paulson for the Treasury will effectively give the Federal Government even greater control over States rights and transfer even more power over the countries’ financial community to the Federal Reserve, while diminishing the power of the S.E.C. and other agencies.

I have long operated on the principle that what is really going on is rarely visible and that what you see is what someone wants you to believe while distracting your attention away from the real truth.

I don’t know what they’re up to exactly, but I know the end result will be less freedom for the people and more power in the hands of the select few who are controlling everything “for our benefit.”

It reminds me of a story my dad used to tell about someone who didn’t notice that they had dropped a piece of pumpkin pie on their shoe.

A friend pointed it out to them, asking, “What’s that on your shoe?” The guy picked it up off his shoe, saying, “Well, it looks like shit, it smells like shit, and it tastes like shit . . . I guess it must be shit.”

This new plan by Treasury head, Paulson, looks just like the piece of pumpkin pie on our collective shoe; and we don’t have to look at it, smell it or taste it to know what it is.

When are we going to catch on?

daniel w. jacobs
(c) 2008-2010, all rights reserved

Disclaimer: This article is intended to stimulate critical thought and awareness of the issues involved. The author makes no guarantee of the accuracy of the writings beyond a common sense observation of the obvious.

(note: I first wrote and published this blog seven months ago, but I felt it deserved to be reissued in light of the current state of the financial crisis in Oct. 2008)


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