Whistleblower Says World Bank Corruption Centered on Federal Reserve

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Karen Hudes was a former employee of the World Bank and has since turned whistleblower on its activities. Remember Joseph Stiglitz (Chief economist) resigned from the World Bank in protest with its policies. Below is Hudes interview with The New American.

A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success. 

Citing an explosive 2011 Swiss study published in the PLOS ONE journal on the “network of global corporate control,” Hudes pointed out that a small group of entities — mostly financial institutions and especially central banks — exert a massive amount of influence over the international economy from behind the scenes. “What is really going on is that the world’s resources are being dominated by this group,” she explained, adding that the “corrupt power grabbers” have managed to dominate the media as well. “They’re being allowed to do it.”

According to the peer-reviewed paper, which presented the first global investigation of ownership architecture in the international economy, transnational corporations form a “giant bow-tie structure.” A large portion of control, meanwhile, “flows to a small tightly-knit core of financial institutions.” The researchers described the core as an “economic ‘super-entity’” that raises important issues for policymakers and researchers. Of course, the implications are enormous for citizens as well.

Hudes, an attorney who spent some two decades working in the World Bank’s legal department, has observed the machinations of the network up close. “I realized we were now dealing with something known as state capture, which is where the institutions of government are co-opted by the group that’s corrupt,” she told The New American in a phone interview. “The pillars of the U.S. government — some of them — are dysfunctional because of state capture; this is a big story, this is a big cover up.”

At the heart of the system are a small number of companies (exposed by the Swiss study) and central banks with massive influence that run the world.

At the heart of the network, Hudes said, are 147 financial institutions and central banks — especially the Federal Reserve, which was created by Congress but is owned by essentially a cartel of private banks. “This is a story about how the international financial system was secretly gamed, mostly by central banks — they’re the ones we are talking about,” she explained. “The central bankers have been gaming the system. I would say that this is a power grab.”

The Fed in particular is at the very center of the network and the coverup, Hudes continued, citing a policy and oversight body that includes top government and Fed officials. Central bankers have also been manipulating gold prices, she added, echoing widespread concerns that The New American has documented extensively. Indeed, even the inaccurate World Bank financial statements that Hudes has been trying to expose are linked to the U.S. central bank, she said. 

“The group that we’re talking about from the Zurich study — that’s the Federal Reserve; it has some other pieces to it, but that’s the Federal Reserve,” Hudes explained. “So the Federal Reserve secretly dominated the world economy using secret, interlocking corporate directorates, and terrorizing anybody who managed to figure out that they were having any kind of role, and putting people in very important positions so that they could get a free pass.”

The Bank of International Settlements acts to coordinate Central Bank policy to dominate and rule the global financial system.

The shadowy but immensely powerful Bank for International Settlements serves as “the club of these private central bankers,” Hudes continued. “Now, are people going to want interest on their country’s debts to continue to be paid to that group when they find out the secret tricks that the group has been doing? Don’t forget how they’ve enriched themselves extraordinarily and how they’ve taken taxpayer money for the bailout.”

As far as intervening in the gold price, Hudes said it was an effort by the powerful network and its central banks to “hold onto its paper currency” — a suspicion shared by many analysts and even senior government officials. The World Bank whistleblower also said that contrary to official claims, she did not believe there was any gold being held in Fort Knox. Even congressmen and foreign governments have tried to find out if the precious metals were still there, but they met with little success. Hudes, however, believes the scam will eventually come undone.

“This is like crooks trying to figure out where they can go hide. It’s a mafia,” she said. “These culprits that have grabbed all this economic power have succeeded in infiltrating both sides of the issue, so you will find people who are supposedly trying to fight corruption who are just there to spread disinformation and as a placeholder to trip up anybody who manages to get their act together.… Those thugs think that if they can keep the world ignorant, they can bleed it longer.”

Of course, the major corruption at the highest levels of government and business is not a new phenomenon. Georgetown University historian and Professor Carroll Quigley, who served as President Bill Clinton’s mentor, for example, wrote about the scheme in his 1966 book Tragedy And Hope: A History Of The World In Our Time. The heavyweight academic, who was allowed to review documents belonging to the top echelons of the global establishment, even explained how the corrupt system would work — remarkably similar to what Hudes describes.

The system has been created to enable private hands to control the global financial and political systems but there is hope that this will be exposed and cleared up.

“The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole,” wrote Prof. Quigley, who agreed with the goals but not the secrecy. “This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.”

But it is not going to happen, Hudes said — at least not if she has something do to with it. While the media are dominated by the “power grabber” network, Hudes has been working with foreign governments, reporters, U.S. officials, state governments, and a broad coalition of fellow whistleblowers to blow the entire scam wide open. There has been quite a bit of interest, too, particularly among foreign governments and state officials in the United States.

Citing the wisdom of America’s Founding Fathers in creating a federal system of government with multiple layers of checks and balances, Hudes said she was confident that the network would eventually be exposed and subjected to the rule of law, stopping the secret corruption. If and when that happens — even if it may be disorderly — Hudes says precious metals will once again play a role in imposing discipline on the monetary system. The rule of law would also be restored, she said, and the public will demand a proper press to stay informed.

“We’re going to have a cleaned-up financial system, that’s where it is going, but in the meantime, people who didn’t know how the system was gamed are going to find out,” she said. “We’re going to have a different kind of international financial system…. It’ll be a new kind of world where people know what’s going on — no more backroom deals; that’s not going to keep happening. We’re going to have a different kind of media if people don’t want to be dominated and controlled, which I don’t think they do.”

While Hudes sounded upbeat, she recognizes that the world is facing serious danger right now — there are even plans in place to impose martial law in the United States, she said. The next steps will be critical for humanity. As such, Hudes argues, it is crucial that the people of the world find out about the lawlessness, corruption, and thievery that are going on at the highest levels — and put a stop to it once and for all. The consequences of inaction would be disastrous.     

Source: The New American

Happy Anniversary Federal Reserve

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Happy 100th anniversary to the Federal Reserve, created on 3rd February 1913. 96% devaluation and has been fucking things up ever since.

Dollar-Value

Federal Reserve Loves Inflation

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100 years of the Federal Reserve summed up by one chart.

FOX19: The US Fed Exposed

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FOX19 discussed how the US Federal Reserve was created, by whom and for what purpose.

Objectives of the Federal Reserve

  1. Stop competition from newer banks.
  2. To obtain a franchise to create money out of nothing for the purpose of lending.
  3. To get control of all reserves of other banks so that reckless banks wouldn’t be over run.
  4. To shift the losses from the banks to the taxpayers.
  5. To convince Congress that the purpose was to protect the taxpayer.

 

All Stocks And Bonds Are Owned By The Federal Reserve (through DTCC), Not By You

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If MF Global is anything to go by and the shit was to hit the fan, then how safe do you think your stocks and bonds are? A little known fact is the Fed owns them through a body called the DTCC (Depository Trust and Clearing Corporation ). You simply are the beneficiary of them and not the owner.

This is one of those mind blowing pieces of information that shows there is nothing that is not owned by the Federal Reserve.  A little known company – Depository Trust and Clearing Corporation – DTCC is the one entity/corporation in the world that holds all stocks and bonds traded for brokers.  They handle every stock/bond transaction world wide.  Not just that, but every stock/bond that people think they own, they are not the owners of them.  The stocks and bonds are not in their names in fact, the broker puts them in a fictitious name which the DTCC owns.   The DTCC is listed as the actual owner of the stock and bond and those who have purchased them are strictly the beneficiary of said stocks and bonds.

You may be thinking… well being beneficiary is just as good as being the stated owner…. WRONG!
Being beneficiary of the stocks and bonds purchased may be fine when all things are going well, but what happens when things start going nuts and banks have some real problems (ie: Greece default and banks exposure to it, via derivatives)?

Do you understand how Wall Street is protected over all customers by what has happened with MF Global?

How could that have happened, how could such obvious injustice have been done on every level?  How come not one single level of government from Congressional, Judicial and Administrative will not hold a Wall Street Commodities broker accountable to stealing the customers money out of their personal accounts?  How come not one single regulatory committee (CFTC) or government entity (FBI, DHS, etc) are not making MF Global accountable for theft directly out of people’s personal accounts?

Well, once you read the information below, you will understand why MF Global is able to get away with it.  I now understand it.  Because all the commodity contracts and gold and silver people thought they owned, they did not.  They were strictly beneficiaries of it as long as the government/Fed Reserve allowed them to be.  But once it came down to MF Global falling apart the “real” owners kept all monies and gold and silver.

It all makes sense to me now and all the pieces of the puzzle have come together in why a broker is able to steal people’s money out of their accounts.

And further reading

The banks and brokers are merely custodians for their clients. By federal law (SEC), they cannot hold any assets in the customer’s name. The assets must be held in the name of DTC’s holding company, CEDE & Co. That’s how DTC has more than $19 trillion dollars of assets in trust… or is it really in “trust” if the private Federal Reserve System is technically holding it in their “unknown” entity’s name? Obviously, if stock and bond certificates you’ve purchased aren’t in your name, then the “holder” (the Federal Reserve System) could theoretically refuse to surrender them back to you under a “national emergency” according to the Trading with the Enemy Act (as amended). Is this the collateral being held by the private Federal Reserve System to pay off the national debt owed to them by our federal government, first initiated by Lincoln’s debt bonds of 1864?

Simply put, the Depository Trust Company absolutely controls every paper asset transaction in the United States as well as the majority of overseas transactions, and they now physically hold (as of April 1999) 99% of all stock and bond book-entrys in their street name, not the actual owner’s names. If you have stock or bond certificates in your name buried in your back yard or under your mattress, we suggest you keep them there. If not, it might be very wise to cancel your brokerage account and power of attorney status, re-register the stocks and bonds in your name (if you still can), and keep them hidden where only you know their location. Otherwise, you have absolutely no control over them (see Part II of our exclusive research report on the DTC for more information on beneficial ownership status). However, getting a stock or bond certificate these days is not so easy if possible at all.


DTCC owned by Federal Reserve.

DTCC settled nearly US$1.66 quadrillion in securities transactions.

Bailout cost $29 trillion

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$29 trillion dollar to bailout the banks. Barry Ritholtz writes about a study by the Levy Economics Institute of Bard College called “$29,000,000,000,000: A Detailed Look at the Fed’s Bail-out by Funding Facility and Recipient”. In it, the study looked at what the Federal Reserve lent or guaranteed.

The researchers took all of the individual transactions across all facilities created to deal with the crisis, to figure out how much the Fed committed as a response to the crisis. This includes direct lending, asset purchases and all other assistance. (It does not include indirect costs such as rising price of goods due to inflation, weak dollar, etc.)

The net total? As of November 10, 2011, it was $29,616.4 billion dollars — (or 29 and a half trillion, if you prefer that nomenclature).

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