Oh! What A Web We Weave!

And it all adds up to bad banking practices ... and We the People get screwed!

(OP-ED)—It’s perfectly obvious that no one got any kind of a financial education in high school or college (for that matter) unless they chose to get an MBA in business. And then maybe, just maybe, they actually read what mattered and figured out that the banks knew damned well what Generally Accepted Accounting Principles (GAAP) consisted of.

And how many folks actually read the Chicago Federal Reserve Bank’s release of Modern Money Mechanics and actually understood what THAT meant?

America has been living on fiat currency since 1871, when DC became incorporated. After the stock market crash of 1929, the Securities Exchange Act was enacted, which prohibited the commercial banks from getting into the securitization scheme.

The European banking cartels knew if they were going to “control” America, they have to do it by contract. And they were ingenious at how they pulled it off.

In the early 1990’s, these cartel families were exposed as the true owners of the Federal Reserve Bank. At that point, the bankers realized that since the “jig was up” they’d have to own and control Congress, judges and the major media. They were already manipulating the stock market and getting away with it. But the piece de resistance was yet to come.

In order to pull of the biggest heist of American wealth, the banks had to create new money, which violates all sorts of Generally Accepted Accounting Principles. The banks had to keep that a secret. Yet the banks’ auditors admitted that it was a secret that banks create new money and their CPA’s knew how it was done.

Now imagine We the People getting shafted when, in 1999, the Glass-Steagall Act, the hinge pin of the Securities Exchange Act of 1934, got repealed. Slick Willie signed off on it. It doesn’t take a rocket scientist to figure out that Congress got rich putting it through (who knows, maybe Clinton did too). That allowed the commercial banks to come up with the mortgage securitization scheme that would cause the first collapse in 2008.

Maybe Jack Nicholson was right in A Few Good Men … “You can’t handle the truth!”

Or maybe the truth is what you really need a dose of … step-by-step (you’ll find it here):