Thursday, July 10, 2008

Global Feudalism: Fact or Fiction

In a recent July article, Joan Veon, a financial planner and international reporter, discusses the globalization of the U.S. Banking System and the continued, negative repercussions of having central banks. The process of globalizing the system is as follows:

"The globalization of our financial system goes hand in hand with the need for a global stock exchange and global accounting system to harmonize the cross-border activities of transnational corporations and banks. To facilitate this process is the interdependence, or mutual dependence between countries, which came about as the barriers fell. With a globalized stock exchange, insurance system, and accounting system, we will need a GLOBAL REGULATORY SYSTEM to accommodate the changes from national to international. This will all fit in with recent calls for a global central bank."

According to Veon, the Treasury Department has put forth a proposal entitled "Blueprint for a Modernized Financial Regulatory Structure" to regulate this system. A portion of the Blueprint states:

"Foreign economies are maturing into market-based economies, contributing to global economic growth and stability and providing deep and liquid sources of capital outside the United States. The increasing interconnectedness of the global capital markets poses new challenges: an event in one jurisdiction may ripple through to other jurisdictions. The convergence of financial services providers [the Banking Modernization Act] and financial products has increased over the past decade. Financial intermediaries and trading platforms are converging. Financial products may have insurance, banking, securities, and futures components" (emphasis added). Mrs. Veon believes that this plan "constitutes the final take-over by the Federal Reserve of our nation's economy" So, what are the negative repercussions? Only the following:

Banking charter will now include all financial institutions, including savings and loans, state chartered banks, and credit unions

Control of the U.S. financial future

Control of where we live

Control of how we live

A massive, modern-day feudal system

The Federal Reserve will be the Market Stability Regulator constituting total control over what happens in the market

Entire mortgage system will be federalized

Federal Reserve will have control in the insurance industry

Congress loses completely its constitutional role of controlling America's financial sovereignty becoming more obsolete and useless

Does this concern anyone? It concerned Thomas Jefferson enough to say, 200 years ago, ""The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution...if the American people 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."

As we approach the reality of a global central bank, what is the solution?
Posted by Ruel Haymond of Project Liberty


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