Bilderberg Economist Says “Print Money ”

Anatole Kaletsky
London Times
Thursday, Dec 18, 2008

Note Who Wrote this article:
Anatole Kaletsky is a Bilderberger, formerly Times Economics Editor and is now an Associate Editor of The Times. He has won many awards for his financial and political journalism. He worked for 12 years on the Financial Times.

At long last, the world’s economic leaders are swinging into action. The US Federal Reserve could have done what it did on Tuesday night – slashing US interest rates to absolute zero and announcing that it would print money without limit – two months ago, when the collapse of Fannie Mae and Lehman Brothers turned a localised financial problem into a life-threatening convulsion threatening the entire global economy. But better later than never.

The world’s most important economic policymakers now have the bit between their teeth and their counterparts in Britain, Japan, Switzerland and the eurozone will find it impossible not to follow.

Politicians all over the world must now stop talking about hard choices – and start taking soft options. That may sound sardonic, but it isn’t supposed to be. The political rhetoric of “hard choices” may sound more appropriate than “soft options”, but a medical analogy makes it clear why pampering, not punishment, is what the world economy now requires. To recuperate from the post-Lehman heart attack, bankers and borrowers needs cosseting in the soft eiderdown of zero interest rates, while consumers and businesses need the emotional reassurance of tax cuts and government guarantees.

(ARTICLE CONTINUES BELOW)

Without such tender care from central bankers and politicians, the year ahead could easily bring the death-throes of the globalised capitalist economic system. By cutting interest rates from 1 per cent to zero, the Fed opened the door to a completely new world of possibilities where many traditional rules vanish or go into reverse – a sort of economic Wonderland in which money can be distributed free to citizens and where governments can spend and borrow at will, without any increase in borrowing costs.

Now that the Fed has blazed the trail, other central banks are likely to follow. The sooner they do this – for the Bank of England it should be at its January monetary policy committee meeting – the greater the chances of averting a depression.

Specifically, the Fed’s decision to impose zero interest rates was accompanied by a commitment to “unconventional” monetary measures. In layman’s terms this means a promise to print and distribute money – and to keep printing it – until the US economy has pulled out of its recessionary spiral.

This is something that no central bank in any advanced economy has before promised so explicitly. But what, in practice, does it mean? In a modern economy there are three ways to “print money”.

The first, most cautious, approach is for the Fed to buy safe assets, such as government bonds, mortgages, student loans and other guaranteed debts that are now owned by private banks, investment institutions or individuals. The Fed will pay for them simply by making electronic transfers into the bank accounts of the people or institutions selling. For every $1 million worth of assets bought, the Fed will transfer $1 million of new money into private bank accounts. This “money” will come literally out of nowhere. It will simply be an electronic blip on the Fed’s computer. Because electronic deposits at the Fed are the ultimate form of legal tender in the US system, the result will be that the US economy has $1 million more money.

Full article here

Prison Planet.tv Members Can Watch Fall Of The Republic Right Now Online - Don't Miss Out! Get Your Subscription Today!

CANCER CONSPIRACY? Are "they" suppressing the cure? Will YOU be the next victim? Learn the Secret Truth! - READ FULL STORY

Comment Terms Of Use

9 Responses to “Bilderberg Economist Says “Print Money ””

fearless Says:
December 18th, 2008 at 12:22 pm
Do we have a law already signed by president Kennedy to end the Fed?

PRESIDENT JOHN F. KENNEDY

Document 100.1.3.2.0 31 of 39……..
“The high office of the President has been used to foment a plot to
destroy the Americans freedom and before I leave office I must inform the
Citizen of his plight.” PRESIDENT JOHN F. KENNEDY(10 days before he was
murdered)

On June 4, 1963, a virtually unknown Presidential decree, Executive Order
11110, was signed with the authority to basically strip the Federal Reserve
Bank of its power to loan money to the United States Federal Government at
interest. With the stroke of a pen, President Kennedy declared that the
privately owned Federal Reserve Bank would soon be out of business. The
Christian Common Law Institute has exhaustively researched this matter
through the Federal Register and Library of Congress and can now safely
conclude that this Executive Order has never been repealed, amended, or
superceded by any subsequent Executive Order. In simple terms, it is still
valid.
When President John Fitzgerald Kennedy – the author of Profiles in
Courage -signed this Order, it returned to the federal government,
specifically the Treasury Department, the Constitutional power to create and
issue currency -money – without going through the privately owned Federal
Reserve Bank.
President Kennedy’s Executive Order 11110 [the full text is displayed
further below] gave the Treasury Department the explicit authority:
“to issue silver certificates against any silver bullion, silver, or
standard silver dollars in the Treasury.”
This means that for every ounce of silver in the U.S. Treasury’s vault, the
government could introduce new money into circulation based on the silver
bullion physically held there. As a result, more than $4 billion in United
States Notes were brought into circulation in $2 and $5 denominations. $10
and $20 United States Notes were never circulated but were being printed by
the Treasury Department when Kennedy was assassinated. It appears obvious
that President Kennedy knew the Federal Reserve Notes being used as the
purported legal currency were contrary to the Constitution of the United
States of America. “United States Notes” were issued as an interest-free and
debt-free currency backed by silver reserves in the U.S. Treasury.
In the illustrations below, a “Federal Reserve Note” issued from the
private central bank of the United States (the Federal Reserve Bank a/k/a
Federal Reserve System), is compared with a “United States Note” from the
U.S. Treasury issued by President Kennedy’s Executive Order. They almost
look alike, except one says “Federal Reserve Note” on the top while the
other says “United States Note”. Also, the Federal Reserve Note has a green
seal and serial number while the United States Note has a red seal and
serial number.
President Kennedy was assassinated on November 22, 1963 and the United
States Notes he had issued were immediately taken out of circulation.
Federal Reserve Notes continued to serve as the legal currency of the
nation. According to the United States Secret Service, 99% of all U.S. paper
“currency” circulating in 1999 are Federal Reserve Notes.
Kennedy knew that if the silver-backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve Notes.
This is a very simple matter of economics. The USN was backed by silver and
the FRN was not backed by anything of intrinsic value. Executive Order 11110
should have prevented the national debt from reaching its current level
(virtually all of the nearly $9 trillion in federal debt has been created
since 1963) if LBJ or any subsequent President were to enforce it. It would
have almost immediately given the U.S. Government the ability to repay its
debt without going to the private Federal Reserve Banks and being charged
interest to create new “money”. Executive Order 11110 gave the U.S.A. the
ability to, once again, create its own money backed by silver and real value
worth something.
Again, just five months after Kennedy was assassinated, no more of the
Series 1958 “Silver Certificates” were issued either, and they were
subsequently removed from circulation.
Perhaps the assassination of JFK was a warning to all future
presidents not to interfere with the private Federal Reserve’s control over
the creation of money. It seems very apparent that President Kennedy
challenged the “powers that exist behind U.S. and world finance”. With true
patriotic courage, JFK boldly faced the two most successful vehicles that
have ever been used to drive up debt: 1) war (Vietnam); and, 2) the creation
of money by a privately owned central bank. His efforts to have all U.S.
troops out of Vietnam by 1965 combined with Executive Order 11110 would have
destroyed the profits and control of the private Federal Reserve Bank.

Executive Order 11110

AMENDMENT OF EXECUTIVE ORDER NO. 10289
AS AMENDED, RELATING TO THE PERFORMANCE OF
CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY
By virtue of the authority vested in me by section 301 of title 3 of the
United States Code, it is ordered as follows:
SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended, is
hereby further amended -
(a) By adding at the end of paragraph 1 thereof the following
subparagraph (j):
“(j) The authority vested in the President by paragraph (b) of section
43 of the Act of May 12, 1933, as amended (31 U.S.C. 821 (b)), to issue
silver certificates against any silver bullion, silver, or standard silver
dollars in the Treasury not then held for redemption of any outstanding
silver certificates, to prescribe the denominations of such silver
certificates, and to coin standard silver dollars and subsidiary silver
currency for their redemption,” and
(b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
SECTION 2. The amendment made by this Order shall not affect any act done,
or any right accruing or accrued or any suit or proceeding had or commenced
in any civil or criminal cause prior to the date of this Order but all such
liabilities shall continue and may be enforced as if said amendments had not
been made.
JOHN F. KENNEDY
THE WHITE HOUSE,
June 4, 1963
Executive Order 11110 is still valid. According to Title 3, United States
Code, Section 301 dated January 26, 1998:
Executive Order (EO) 10289 dated Sept. 17, 1951, 16 F.R. 9499, was as
amended by:
EO 10583, dated December 18, 1954, 19 F.R. 8725;
EO 10882 dated July 18, 1960, 25 F.R. 6869;
EO 11110 dated June 4, 1963, 28 F.R. 5605;
EO 11825 dated December 31, 1974, 40 F.R. 1003;
EO 12608 dated September 9, 1987, 52 F.R. 34617
The 1974 and 1987 amendments, added after Kennedy’s 1963 amendment, did not
change or alter any part of Kennedy’s EO 11110. A search of Clinton’s 1998
and 1999 EO’s and Presidential Directives has also shown no reference to any
alterations, suspensions, or changes to EO 11110.
The Federal Reserve Bank, a.k.a Federal Reserve System, is a Private
Corporation. Black’s Law Dictionary defines the “Federal Reserve System” as:
“Network of twelve central banks to which most national banks belong and to
which state chartered banks may belong. Membership rules require investment
of stock and minimum reserves.”
Privately-owned banks own the stock of the FED. This was explained in more
detail in the case of Lewis v. United States, Federal Reporter, 2nd Series,
Vol. 680, Pages 1239, 1241 (1982), where the court said:
“Each Federal Reserve Bank is a separate corporation owned by commercial
banks in its region. The stock-holding commercial banks elect two thirds of
each Bank’s nine member board of directors”.
The Federal Reserve Banks are locally controlled by their member banks.
Once again, according to Black’s Law Dictionary, we find that these
privately owned banks actually issue money:
“Federal Reserve Act. Law which created Federal Reserve banks which act
as agents in maintaining money reserves, issuing money in the form of bank
notes, lending money to banks, and supervising banks. Administered by
Federal Reserve Board (q.v.)”.
The privately owned Federal Reserve (FED) banks actually issue (create) the
“money” we use. In 1964, the House Committee on Banking and Currency,
Subcommittee on Domestic Finance, at the second session of the 88th
Congress, put out a study entitled Money Facts which contains a good
description of what the FED is:
“The Federal Reserve is a total money-making machine. It can issue money or
checks. And it never has a problem of making its checks good because it can
obtain the $5 and $10 bills necessary to cover its check simply by asking
the Treasury Department’s Bureau of Engraving to print them”.
Any one person or any closely knit group who has a lot of money has a lot
of power. Now imagine a group of people who have the power to create money.
Imagine the power these people would have. This is exactly what the
privately owned FED is!
No man did more to expose the power of the FED than Louis T. McFadden, who
was the Chairman of the House Banking Committee back in the 1930s. In
describing the FED, he remarked in the Congressional Record, House pages
1295 and 1296 on June 10, 1932:
“Mr. Chairman, we have in this country one of the most corrupt institutions
the world has ever known. I refer to the Federal Reserve Board and the
Federal reserve banks. The Federal Reserve Board, a Government Board, has
cheated the Government of the United States and he people of the United
States out of enough money to pay the national debt. The depredations and
the iniquities of the Federal Reserve Board and the Federal reserve banks
acting together have cost this country enough money to pay the national debt
several times over. This evil institution has impoverished and ruined the
people of the United States; has bankrupted itself, and has practically
bankrupted our Government. It has done this through the mal-administration
of that law by which the Federal Reserve Board, and through the corrupt
practices of the moneyed vultures who control it”.
Some people think the Federal Reserve Banks are United States Government
institutions. They are not Government institutions, departments, or
agencies. They are private credit monopolies which prey upon the people of
the United States for the benefit of themselves and their foreign customers.
Those 12 private credit monopolies were deceitfully placed upon this country
by bankers who came here from Europe and who repaid us for our hospitality
by undermining our American institutions.
The FED basically works like this: The government granted its power to
create money to the FED banks. They create money, then loan it back to the
government charging interest. The government levies income taxes to pay the
interest on the debt. On this point, it’s interesting to note that the
Federal Reserve Act and the sixteenth amendment, which gave congress the
power to collect income taxes, were both passed in 1913. The incredible
power of the FED over the economy is universally admitted. Some people,
especially in the banking and academic communities, even support it. On the
other hand, there are those, such as President John Fitzgerald Kennedy, that
have spoken out against it. His efforts were spoken about in Jim Marrs’ 1990
book Crossfire:
“Another overlooked aspect of Kennedy’s attempt to reform American society
involves money. Kennedy apparently reasoned that by returning to the
constitution, which states that only Congress shall coin and regulate money,
the soaring national debt could be reduced by not paying interest to the
bankers of the Federal Reserve System, who print paper money then loan it to
the government at interest. He moved in this area on June 4, 1963, by
signing Executive Order 11110 which called for the issuance of
$4,292,893,815 in United States Notes through the U.S. Treasury rather than
the traditional Federal Reserve System. That same day, Kennedy signed a bill
changing the backing of one and two dollar bills from silver to gold, adding
strength to the weakened U.S. currency.
Kennedy’s comptroller of the currency, James J. Saxon, had been at odds
with the powerful Federal Reserve Board for some time, encouraging broader
investment and lending powers for banks that were not part of the Federal
Reserve system. Saxon also had decided that non-Reserve banks could
underwrite state and local general obligation bonds, again weakening the
dominant Federal Reserve banks”.
In a speech made to Columbia University on Nov. 12, 1963, ten days before
his assassination, President John Fitzgerald Kennedy said: “The high office
of the President has been used to foment a plot to destroy the American’s
freedom and before I leave office, I must inform the citizen of this
plight.”
In this matter, John Fitzgerald Kennedy appears to be the subject of his
own book… a true Profile of Courage. ~~~~~~~~~~~~~~~
According to the Constitution of the United States, (Article 1 Section 8),
only Congress has the authority to coin Money, regulate the Value thereof,
and of foreign Coin, and fix the Standard of Weights and Measures.
However, since 1913 this Amendment has not been followed. In 1913, the
Federal Reserve System was created, giving a private owned corporation the
authority to “create” and coin the money of United States. The Federal
Reserve is comprised of 12 private credit monopolies who have been given the
authority to control the supply of the “Federal Reserve Notes”, interest
rates and all the other monetary and banking phenomena.
The way the Federal Reserve works is this: 12 private credit monopolies
“create”, (or print), Federal Reserve Notes which are lent to the American
government. The government granted its power to create money to the FED
banks. They create money, then loan it back to the government charging
interests. The government levies income taxes to pay the interest on the
debt. It is interesting to note that the Federal Reserve Act and the
sixteenth amendment which gave congress the power to collect income taxes,
were both passed in 1913. The Federal Reserve Notes are not backed by
anything of “intrinsic” value. (i.e. gold or silver).
On June 4, 1963, President, John Fitzgerald Kennedy signed the Presidential
decree, Executive Order 11110, which stripped the Federal Reserve Banking
System of its power to loan money to the United States Federal Government at
interest. This decree meant that for every ounce of silver in the U.S.
Treasury’s vault, the U.S. government could introduce new money into
circulation based on the silver bullion physically held there. As a result,
more than $4 trillion in United States Notes were brought into circulation
in $2 and $5 denominations. $10 and $20 United States Notes were never
circulated but were being printed by the Treasury Department when Kennedy
was assassinated.
Kennedy knew that if the silver backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve Notes.
Thus giving the U.S. Treasury the Constitutional authority to coin U.S.
money once again, thus preventing the national debt from rising due to
“usury” that the American people are charged for “borrowing” the FRN’s.
Only 5 months after Executive Order 11110 was signed, President Kennedy was
assassinated. Five months later, no more of the Series 1958 “Silver
Certificates” were issued and they were subsequently removed from
circulation. Kennedy knew that if Congress coined and regulated money, as
the Constitution states, the national debt would be reduced by not paying
interest to the 12 credit monopolies. This in itself would have allowed the
American people freedom of money that they earned, enabling the economy to
grow.
It is interesting to note that Executive Order 11110 is still in effect,
though no U.S. President has followed it. The Bible states, “through lack
of knowledge, my people perish”. As American people, it is our duty to
question the Federal Reserve System, and the power that we have given them..
“When the federal government is held to its proper constitutionally
limited functions, tax reform will take care of itself.” –Rep. Ron Paul.
[From U.S.Cong.News, 1963, pg. 1737.]
Executive Order No. 11110
June 7, 1963, 28 F. R. 5605
AMENDMENT OF EXECUTIVE ORDER NO. 10289, AS AMENDED, RELATING TO THE
PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY
By virtue of the authority vested in me by section 301 of title 3 of the
United States Code, [3 U.S.C.A. § 301] it is ordered as follows:
Section 1. Executive Order No. 10289 of September 19, 1951, as amended,
[3 U.S.C.A. § 301 note] is hereby further amended–
(a) By adding at the end of paragraph 1 thereof the following
subparagraph (j):
“(j) The authority vested in the President by paragraph (b) of section 43
of the Act of May 12, 1933, as amended (31 U.S.C. 821(b)), to issue silver
certificates against any silver bullion, silver, or standard silver dollars
in the Treasury not then held for redemption of any outstanding silver
certificates, to prescribe the denominations of the such silver
certificates, and to coin standard silver dollars and subsidiary silver
currency for their redemption,” and
(b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
Sec. 2. The amendments made by this Order shall not affect any act done,
or any right accruing or accrued and any suit or proceeding had or commenced
in any civil or criminal case prior to the date of this Order but all such
liabilities shall continue any may be enforced as if said amendments had not
been made.

JOHN F. KENNEDY
THE WHITE HOUSE
June 4, 1963
rich Says:
December 18th, 2008 at 12:49 pm
after interest rats are gone with the wing, i guess keeping the cyber press rolling is one other option that will race us into a deep depression !

http://www.youtube.com/watch?v.....annel_page

goldieshouse.piczo.com
Donktastic Says:
December 18th, 2008 at 12:55 pm
Wow Anatole Kaletsky thinks he’s quite the economist. I’m so glad that I own gold and silver (stocks for right now…but you better believe I’ll be buying the physical stuff sooner rather than later). This guy is an elitist twit who thinks his awards on economic journalism make him an authority on economics. Just ask Peter Schiff, Jim Roger, Max Keiser, and Bob Chapman what they think of Kaletsky’s economic principals. They’ll laugh in his face just like they do Bernanke’s LOL.

Donktastic
Claudia Says:
December 18th, 2008 at 3:25 pm
Stuff and gold and silver wont do you any good people the bible says people will be throwing their gold in the streets because its no good, only Jesus people! satan is running this world system right now, till Jesus comes back. Look out devil!!!! and all the idiots that are kissing his feet.
JT Says:
December 18th, 2008 at 5:06 pm
Fuck Bilderberg and everyone associated with them. Time to kick these assholes out of our country.
vein Says:
December 18th, 2008 at 5:07 pm
Rupert Murdoch is Blair’s mouthpiece, and the Times and FT are Rupert Murdoch rags. You will notice the growing meme suggesting that every citizen should be given a ‘free gift’ of a massive sack of money. Where would the VALUE of this money come from (the notes themselves are just printed at will, of course). The answer is that the VALUE will be that stolen from the savings and investments of ordinary people, wiped out by the ensuing hyper-inflation.

See, this is a zero sum game, when you factor in every place where financial value arises. If ‘A’ is given a gift, it must be at the expense of ‘B’. For the longest time, ‘B’ has been the future generations (that’s right, suckers, you’ve been stealing from your kids and grand-kids etc). However, even the unborn population of the Earth can’t keep a ponzi (pyramid) game going forever.

Blair wants the termination of the dying capitalist system to be an event that traumatises every citizen of the West for the rest of their lives. The crash must be felt as vividly as being the survivor of a accident when a high speed car struck a tree, and killed the rest of the occupants. This means chaos on the high-street (main-street), and financial terror in the heart of every person that ever planned for their future.

Do the crazy thing. DO THE CRAZY THING!. DOOOOO THE ***CRAZY*** THING!!!! is going to be the message pushed by the zionist mass media 24/7 in 2009. Pretty soon, ordinary people will be threatening to lynch any politician or economic expert that objects to running the money-printing presses at full capacity. You see, every sheep is to be told that the only solution is to make each and every one of them a lottery winner. I mean, what could possibly go wrong with that plan.

Now don’t let anyone spoil the fantasy by pointing out that hyper-inflation drives every important commodity into massive shortage (and NOT because everybody buys everything). When money has no value, making or providing stuff to sell has no purpose. The only profit is in artificially created shortages, so that common or garden items have the most extreme prices (this, of course, being part of the circle that DRIVES hyper-inflation). Currency with no value must be strip mined to provide even the tiniest return.
mythicshadow Says:
December 19th, 2008 at 1:27 am
Xmas card for the Truthers

http://ca.youtube.com/watch?v=SPTRtbLi_yc
rlilewis Says:
December 19th, 2008 at 5:36 am
The savers are being sacrificed to save the reckless… history always repeats itself. Yet we never learn.
Sharky Says:
December 19th, 2008 at 7:54 am
Very good research into EXO.11110.
I am sorry to say this , but the powers that be will never go against these Fed Criminals.
It is really up to “WE the People” or should I say Sheeple.
“We the People” have forgotten what “We the People” means. Not all are blind though, some do realize what has happened, but are to few to be able to create our Nation back to OUR NATION.
Though I feel that when”We the People” have lost all monetary value of what we have and can’t feed our families and can’t find work and can’t keep our homes , we may at that time Unite to take back what was stolen from “We the People”. But I can only hope that “We the People” act quickly for many will go to camps and many may have to die as in the revolution that first happen when we were ruled by Tyrants.
These tyrants who are now in Power are preparing themselves and their Army for what will be the eventual striking back by “We the People”. There are now marines in the streets working with lawforcement doing road checks in California for Drunk Drivers, thier is now a Brigade in Georgia trained for civil unrest. They( NORTHCOM ) are bringing in 20,000 more Soldiers to train for them same. The US Army has signed agreements with the Canadian Military, so as to use them in case of an Emergency National Disaster is declared (Riots in the streets Maybe?)
There are 1 million on the no fly list at present. So according to some asswipes in the DHS, there are 1 million possible Terrorist already here. They have a list they won’t reveal to “WE THE PEOPLE”. The grows by 25,000 a month. DHS and this Rogue Government looks at “We the People” as if we are all criminals. If you disagree see what will happen to your name. It will go on a List. Ask yourselves this”Why all the Lists”?
What Up with that?
Why have they taken our Futurity and given it to Banksters and Insurance Companies and to Private Corporations?
Why do they spend all we hold dear, without even blinking?
How was the FED able to threaten “Marshal Law” if Congress didn’t do as they asked?
Ask yourselves this very important question : Why are “We the People” not up in Arms?
My answer is this : that they have shone “We the People” that the Military will use live ammo to quell any uprising as was the show of force in a forgotten incident on the Campus in Ohio, when 4 students were shot dead. YES they showed us it can happen here, and everyone is affraid of dying for freeing anyone.
If they come for me I will greet them with my finger on the trigger of my gun and I will die and finally met my maker and hope to be in a Just and Happier situation.
I do know that much more pain is on the way.
But , I do also believe that there is something wonderful about to happen to those who truly believe and that is 2012.
Read the book “Temple in the Center of Time”
To “We the People” keep your eyes open and food put away and tons of ammo.
Gold will be of no value compared to bullets and food one day soon.