American Banksters: The Promise of Recovery, The Reality of Decline

American Bankster

Welcome to American Bankster, the blogsite that examines current events in finance and banking as they devolve into losses of personal liberties and individual freedoms.

"Give me the right to issue and control a nation’s money and I care not who governs the country.” Meyer Amschal Rothschild, International Banker

"Those that create and issue the money and credit, direct the policies of government and hold in their hands the destiny of the people." Richard McKenna, former president of the Midlands Bank of England

"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. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the people of the United States for the benefit of themselves and their foreign customers. The Federal Reserve banks are the agents of the foreign central banks. The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board.” Congressman Louis T. McFadden, Chairman of the House Banking and Currency Committee, addressed the House on June 10, 1932. 75 Congressional Record 12595-12603

Wednesday, April 29, 2009

The Promise of Recovery, The Reality of Decline

Stocks, crude oil, grains and metals improved on Wednesday despite news that U.S. first quarter GDP declined by an unexpectedly large 6.1%. Analysts had been expecting a decline of 4.3%. The rally in stocks - against continued news of dismal housing results, poor corporate earnings and rising unemployment - is completely unjustified. Equally unjustified is strength in the U.S. dollar. And it is the eventual crash of the latter that will have the greatest impact on both the U.S. and global economies. The promise of recovery is senseless against the reality of ongoing decline.