Comments on: Russian economist predicts “Great Depression 2″ in the United States – Who is Mikhail Leonidovich Khazin?

By: admin

admin — Mon, 03 May 2010 06:25:25 +0000

How can Americans and knowledgeable proponents of “END THE FED” put this issue to rest and disband these private banks and the “inter connectivity” which you discuss?

By: Rule of Law

Rule of Law — Mon, 03 May 2010 00:14:19 +0000

Economists and Lawyers should be jointly studying the private international banks in the United States and western Europe and their interconnectivity with sovereign states. International ruling, U.S. v. The Libellants and Claimants of the Schooner Amistad, Her Tackle, Apparel, and Furniture, Together with Her Cargo, and the Africans Mentioned and Described in the Several Libels and Claims, 40 U.S. 518(1841) indicates that sovereign states have jurisdiction and sovereignty over trade matters. This would appear to invalidate the legal authority of the Federal Reserve since its secret interconnecting relationship with international private banks violates international law. The Federal Reserve Note and Euro do not appear to be two independent debt instruments but appear to be part of one interconnected monetary debt system. This system is administratively supported by organizations like the World Trade Organization, Rating Agencies, Stock Market Exchanges, International private banks, and the United Nations. All sovereign states assets are at risk. Through the interconnectivity of the different private banks, which includes the Federal Reserve, debt assets become co-mingled and lose their sovereign identification. In addition, this co-mingling violates jurisdictional boundaries, which prevents legal accountability. The Federal Reserve System, which is almost one hundred years old, and the European Union, which manages currency for 16 countries have extensive programs to promote profit from leverage but made no provisions to manage losses. The issue would appear to challenge whether losses can be managed when assets and debts are co-mingled. There is no provision to adjudicate losses for sovereign states where jurisdiction and sovereignty has been co-mingled with multiple institutions. Any of the interconnecting private banks including the FRB can link with sovereign states and crash their economies. Sovereign state currencies have risk and liability limitations by virtue of their sovereignty and jurisdiction, but international debt instruments do not. There are 18 sovereign states with their monetary systems intermingled in the Federal Reserve-European Union international debt system, which creates a statistical risk factor of 6.402373705728e+15 interactions with potential risk for failure. This calculation only considers the number of sovereign states and does not factor the number of private banks which would increase the risk. This risk is why banks have not disclosed the true value of losses.

By: Qasim Zaman

Qasim Zaman — Sat, 03 Jan 2009 18:13:43 +0000

Well this is a lovely post, actually more like drastic. Tom Perry is right the US needs to contract the money supply and allow more cash in hand. Now a days in the US no body owns anything. Everything is in credit from one person to another and the circle is so confusing that when one creditor defaults all of them in that mess suffer as we saw in 2008.

By: Tom Perry

Tom Perry — Tue, 11 Nov 2008 02:36:24 +0000

I have been saying something like this for years! The U.S. has been living beyond its means since 1965. By 1971 we had to delink the dollar from gold. However with nothing to replace it, the dollar remained the world reserve currency. Since that time to a greater or lessor degree we have traded notional dollars for durable goods and service. A great deal if you can get it! Alas the people in charge didn't actually understand what they were doing , and therefore sailed way past reasonable limits. As long as A/ the dollar remains the world reserve currency and B/ as long as the Fed does not radically contract the money supply, we'll have a long Japan like stagnation and adjustment. The USSR collapsed because of internal problems such as unreliable information for planning, decline of energy resources, and finally a lack of faith in their system. Praise the gods they were wise enough to let it go peacefully! Tom Perrys last blog post..The Obama Victory