Tag Archives: Weimar Republic

Simon Black ~ A Sane Person Ought To Consider These Important Lessons

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SovereignMan March 27 2013

One would think that certain truths are obvious by now.

It should be obvious, for example, that there are consequences to living beyond your means.

It should be obvious that there are consequences to a long history of spending unsustainably and accumulating mountains of debt.

And it should be obvious that there are consequences to dealing with such problems by spending more and accumulating even more debt.

It should be obvious. But it’s not.

In Europe, politicians are hailing their responses to the Cyprus crisis as a success. They pretend like everything is OK, notwithstanding the capital controls now imposed.

Keep moving people, nothing to see here.

Curiously, institutional investors have mostly shrugged off the turmoil. European markets are down just a few percentage points… which is not even considered a correction let alone a crash.

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William Dean A. Garner ~ Sun Tzu To The Reptilian-Jesuits: America Of 2013 Is Not The Weimar Republic Of 1923

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William Garner | January 3 2013

Americans today are quite unlike the malleable and frightened sheep of the Weimar Republic in the late 1910s and early 1920s. If you think they are, you are in for a rude awakening, one that will collapse your whole system of subjugation.

You have used what you know to be tried-and-true methods of oppression for thousands of years. The Jesuits themselves have used these methods effectively since the mid 1550s, and to good result, their methods having been passed down from previous regimes under the Reptilians.

The people of those ages were ignorant and dumb, with no access to education, communication and sharing of information. They did what they were told and asked few questions, made little resistance, let alone overcame their oppressors.

Today, the good people of this world have a whole different perspective and they are keen to learning who really runs the world you are effectively oppressing in many areas and destroying in others. They are learning how you do what you do, and they are figuring out how to counter your machinations.

The past does not equal the future.

You act as if this maxim is false. It is not.

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James Wesley Rawles ~ America Will Experience Weimar-Style Hyperinflation [Audio]

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  | October 14 2012

Here’s a link to Part 2 of this interview

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The Largest Economy In The World Is Imploding Right In Front Of Our Eyes

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Economic Collapse Blog | October 7 2012

A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about? Not the United States – the economy that I am talking about has a GDP that is more than two trillion dollars larger. It is not China either – the economy that I am talking about is more than twice the size of China. You have probably guessed it by now – the largest economy in the world is the EU economy.

Things in Europe continue to get even worse. Greece and Spain are already experiencing full-blown economic depressions that continue to deepen, and Italy and France are headed down the exact same path that Greece and Spain have gone. Headlines about violent protests and economic despair dominate European newspapers day after day after day. European leaders hold summit meeting after summit meeting, but all of the “solutions” that get announced never seem to fix anything. In fact, the largest economy on the planet continues to implode right in front of our eyes, and the economic shockwave from this implosion is going to be felt to the four corners of the earth.

On Friday, newspapers all over Europe declared that Greece is about to run out of money (again).

The Greek government says that without more aid they will completely run out of cash by the end of November.

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Quantitative Easing Did Not Work For The Weimar Republic Either

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Economic Collapse | September 26 2012

Did printing vast quantities of money work for the Weimar Republic?  Nope.  And it won’t work for us either.  If printing money was the secret to economic success, we could just print up a trillion dollars for every American and be done with it.  The truth is that making everyone in America a trillionaire would not mean that we would all suddenly be wealthy.  There would be the same amount of “real wealth” in our economy as before.  But what it would do is render our currency meaningless and totally destroy faith in our financial system.  Sadly, we have not learned the lessons that history has tried to teach us.  Back in April 1919, it took 12 German marks to get 1 U.S. dollar.  By December 1923, it took approximately 4 trillion German marks to get 1 U.S. dollar.  So was the Weimar Republic better off after all of the “quantitative easing” that they did or worse off?  Of course they were worse off.  They destroyed their currency and wrecked all confidence in their financial system.  There was an old joke that if you left a wheelbarrow full of money sitting around in the Weimar Republic that thieves would take the wheelbarrow and they would leave the money behind.  Will things eventually get that bad in the United States someday?

Of course we are not going to see hyperinflation in the U.S. this week or this month.

But don’t think that it will never happen.

The people of Germany never thought that it would happen to them, but it did.

The following is an excerpt from a Wikipedia article about the Weimar Republic.  Take note of the similarities between what the Weimar Republic experienced and what we are going through today….

The cause of the immense acceleration of prices that occurred during the German hyperinflation of 1922–23 seemed unclear and unpredictable to those who lived through it, but in retrospect was relatively simple. The Treaty of Versailles imposed a huge debt on Germany that could be paid only in gold or foreign currency. With its gold depleted, the German government attempted to buy foreign currency with German currency, but this caused the German Mark to fall rapidly in value, which greatly increased the number of Marks needed to buy more foreign currency. This caused German prices of goods to rise rapidly which increase the cost of operating the German government which could not be financed by raising taxes. The resulting budget deficit increased rapidly and was financed by the central bank creating more money.

When the German people realized that their money was rapidly losing value, they tried to spend it quickly. This increase in monetary velocity caused still more rapid increase in prices which created a vicious cycle. This placed the government and banks between two unacceptable alternatives: if they stopped the inflation this would cause immediate bankruptcies, unemployment, strikes, hunger, violence, collapse of civil order, insurrection, and revolution. If they continued the inflation they would default on their foreign debt. The attempts to avoid both unemployment and insolvency ultimately failed when Germany had both.

When the Weimar Republic first started rapidly printing money everything seemed fine at first.  Economic activity was buzzing and unemployment was very low.

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Chris Hedges ~ Northern Light

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Nation Of Change | June 5 2012

Northern Light gave a talk last week at Canada’s Wilfrid Laurier University to the Congress of the Humanities and Social Sciences. Many in the audience had pinned small red squares of felt to their clothing. The carre rouge, or red square, has become the Canadian symbol of revolt. It comes from the French phrase carrement dans le rouge, or “squarely in the red,” referring to those crushed by debt.

“The streets of Montreal are clogged nightly with as many as 100,000 protesters banging pots and pans and demanding that the old systems of power be replaced. The mass student strike in Quebec, the longest and largest student protest in Canadian history, began over the announcement of tuition hikes and has metamorphosed into what must swiftly build in the United States—a broad popular uprising. The debt obligation of Canadian university students, even with Quebec’s proposed 82 percent tuition hike over several years, is dwarfed by the huge university fees and the $1 trillion of debt faced by U.S. college students. The Canadian students have gathered widespread support because they linked their tuition protests to Quebec’s call for higher fees for health care, the firing of public sector employees, the closure of factories, the corporate exploitation of natural resources, new restrictions on union organizing, and an announced increase in the retirement age. Crowds in Montreal, now counting 110 days of protests, chant “On ne lâche pas”—“We’re not backing down.”

The Quebec government, which like the United States’ security and surveillance state is deaf to the pleas for justice and fearful of widespread unrest, has reacted by trying to stamp out the rebellion. It has arrested hundreds of protesters. The government passed Law 78, which makes demonstrations inside or near a college or university campus illegal and outlaws spontaneous demonstrations in the province. It forces those who protest to seek permission from the police and imposes fines of up to $125,000 for organizations that defy the new regulations. This, as with the international Occupy movement, has become a test of wills between a disaffected citizenry and the corporate state. The fight in Quebec is our fight. Their enemy is our enemy. And their victory is our victory.

This sustained resistance is far more effective than a May Day strike. If Canadians can continue to boycott university classrooms, continue to get crowds into the streets and continue to keep the mainstream behind the movement, the government will become weak and isolated. It is worth attempting in the United States. College graduates in Canada, the U.S., Spain, Greece, Ireland and Egypt, among other countries, cannot find jobs commensurate with their education. They are crippled by debt. Solidarity means joining forces with all those who are fighting to destroy global, corporate capitalism. It is the same struggle. A blow outside our borders weakens the corporate foe at home. And a boycott of our own would empower the boycott across the border.

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SF Fed Confirms It Is A Private Corporation That Pays Dividends To Shareholders

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David Haynie (Pacific Progress) | The Intel Hub
November 19 2011

Fed'l Reserve Bank | San Francisco

Recently Humboldt State University was visited by David Lang and Yelena Takhtamanova from the Federal Reserve Bank of San Francisco where they presented some information about the Federal Reserve System.

I, along with the department, took video of this event. While I was unable to take footage of the entire event, I was able to get David Lang’s presentation as well as a short portion of a question and answer period.

There were also presentations from students from an Economics class. Each group had to play the role of a private central banking head for each of the 12 Federal Reserve Branch banks. They had to make policy suggestions for the Federal Reserve banking system going forward.

Some of the groups had the right idea with the suggestion to remove the extra 0.25% interest being paid on excess reserves held with the Federal Reserve. This is a big problem and those groups got it right.

David Lang presented first, and a notable point is that at the 14 minute mark in the video below he explained that the Federal Reserve banking system paid back $78 billion to the US Treasury in 2010. It needs to be noted that he did not discuss the interest that the Federal Reserve charges on the currency in circulation.

What about the $189 billion paid to FRB on interest to service the debt in 2010? Wiki, a much less reputable source than the GAO, reports this number as $164 billion. Regardless, it is more than double what the Federal government spends on education.

The fact that money, the US Dollar, a Federal Reserve debt note, an instrument of debt, is on the bottom portion of the balance sheet of the Federal Reserve, the liabilities side, is direct proof that each US dollar gains interest and that the Federal Reserve system is paid interest on that same debt, the national debt.

David Lang and Yelena Takhtamanova both specifically showed the balance sheet of the Federal Reserve banks, and ‘Currency in circulation’ can clearly be seen as a liability. As we know, the government does not have to issue debt in order to create currency but the Federal Reserve, in order to keep control over the debt slaves,(U.S. taxpayers) does anyway.

Another issue is the fact that while that curve for the currency in circulation looks reasonably tame, keep in mind that the fractional reserve banking system and how banks can lend out 10x(and more in certain cases) on each additional dollar in circulation.

The $100 billion printed in October of 2008 really amounted to $1 trillion of financial ‘stimulation’(really the weakening of the dollar) considering the ponzi scheme of irrational fractional reserve banking.

During his presentation, David Lang asked the audience if they could name who audits the Federal Reserve. No one in the room was able to answer except for me at 12:45 in the video. I answered with the GAO. I have reviewed many GAO reports to see the corruption hidden within the government, military, and private institutions.

VIEW ~36 MINUTE VIDEO

At 28:25 in the video, an Occupy Humboldt protester asks important questions concerning the Federal Reserve, money, debt, the national debt, and inflation. I am not sure if he may have articulated himself as well as he wanted, but his concerns are very important, and were disregarded by the Fed reps.

David Lang even goes as far as to echo Yelena Takhtamanova’s simply explanation of what money is. I’m not sure if he was prepared for the many questions asked but, regardless, his weak non-answer to the Occupy protester proves he is just a pawn in the big picture of things at the Fed of San Francisco.

I then asked my question at 31:06, concerning the Federal Reserve bank of San Francisco and whether it was formed as a private institution. He confirmed that it is. He also confirmed that they pay dividends to their shareholders.

He then quickly reiterated the fact that the Federal Reserve banks paid back profits to the US Treasury. Again this was to cover the main point that the Federal Reserve charges and is paid interest on our debt.

Regardless, I was clearly able to capture video of a representative of a Federal Reserve bank confirming that they are indeed a private institution.

David Lang’s confirmation flies directly in the face of the lies being pushed by the ill-representing ‘FederalReserve.gov’ site.

‘FederalReserve.gov’ even goes as far as to say , “It is not “owned” by anyone and is not a private, profit-making institution.” They are able to get away with this outright lie because the lines between the Federal Reserve Banking System and each of the 12 private central banks that make it up are sometimes muddled on purpose as we have seen.

Each of the 12 individual private Federal Reserve banks charge and receive interest for profit.

VIEW ~36 MINUTE VIDEO

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