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Gerald Celente: Crash of 2010 is Looming
Submitted by cbourne on Fri, 03/19/2010 - 18:51
Celente's comment on Dodd's bill to give the Fed more power: “It’s like putting Bugsy Siegel or Al Capone in charge of law enforcement.” http://www.bullsource.com/gerald-celente-crash-of-2010-is-lo... |
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I agree...here is an excerpt I think some will find interesting.
Found at:
http://www.osc.state.ny.us/retire/word_and_pdf_documents/pub...
Bear in mind this is only 1 out of 184,000 CAFR funds out there.
Page 11
Investments
To meet our obligations to pensioners, members and beneficiaries, the Fund's assets are diversified over a number of investments, and a host of different investment strategies are employed to control risk. In the past year, the fund returned 12.58%.
Page 28
FINANCIAL HIGHLIGHTS
THE NET ASSETS OF THE SYSTEM HELD IN TRUST TO PAY PENSION BENEFITS WERE $156.625 BILLION AS OF MARCH 31, 2007. THIS AMOUNT REFLECTS AN INCREASE OF $14.005 BILLION FROM THE PRIOR FISCAL YEAR. This change is primarily the result of the net appreciation of the fair value of the investment portfolio.
Page 36
3.) Deposit and Investment Risk Exposure- Investment securities are exposed to custodial credit risk if the securities are un-insured, are not registered in the name of the New York State and Local Retirement System's Common Retirement Fund, or are held by either the counterparty's trust department or agent, but not in the name of the fund.
So, aren't these CAFR funds insured? I would say most are.
continues...
Equity and fixed income investments owned directly by the fund, which trade in the US markets are held at the Fund's custodian, in separate accounts, in the name of the Comptroller of the State of New York in Trust for the Common Retirement Fund. These securities [assets] are held in electronic form through the Federal Book Entry System by the Depository Trust Company ("DTC") [the WHAT?] and it's subsidiaries acting as an agent of the Fund's custodian bank. Securities held directly by the fund which trade in markets outside the US are held by a subsidiary of the Fund's custodian bank in the local market, a bank performing custodian services in the local market acting as an agent for the Fund's custodian bank, and in some foreign markets, the securities are held in electronic format be a DTC subsidiary or an organization similar to DTC. Directly held investments include short-term and long-term fixed income and domestic and international equity separately managed accounts. The aforementioned have the lowest custodial risk.
Title to real estate invested in by the Fund is held either by a real estate holding company, or a real estate investment fund. Ownership of mortgage assets is documented by the Fund's holding of original mortgage and note documents by the Office of the State Comptroller ("OSC"), Division of Pension Investment and Cash Management.
[So basically, the asset-securities are being held in elctronic format at the DTC or DTC subsidiary}
Custodial Credit Risk For Deposits - Deposits are exposed to custodial credit risk if the deposits are not covered by the depository insurance or the deposits are uncollateralized, collateralized with securities held by the pledging financial institutiton, or collateralized with securities held by the pledging institution's trust department or agent, but not in the name of the Fund.
Page 58
Domestic Stock (Market Value) $65 Billion
Percent of Total: 42%
International Stock $24 Billion
Percent of Total: 16.1%
Again...this is just ONE CAFR fund.
Are we really broke?
We need a complete audit and silver bullet
to the heart of the FED. We need complete audits of ALL STATE COMPTROLLERS AND STATE AGENCIES PERIOD !!!!
Familiarize yourself with CAFR as a subsequent poster on this thread has demonstrated. VERY IMPORTANT. Go to this site http://cafr1.com/ and learn, learn, learn.
As the man says "It's the only game in town"
Just one last kick in the nuts, then a final deathblow
bump
5 stars - Thanks for posting.
Website:
http://www.libertypoet.com/
Twitter:
http://twitter.com/LibertyPoet
"How can we justify to the unemployed and underemployed in the United States the incredible cost of maintaining a global empire?" - Dr. Ron Paul
Celente recommends forcing US business owners
not to export labor? That's not free enterprise at work. What would the penalty be, fines, prison, sky-high tariffs?
New Hampshire and Ecuador
He didn't say force them, he just said the only way for the
economy to recover is for us to begin producing here at home again, which means bring the manufacturing back. I think laws, taxes and regulations would have to change here to make it profitable for companies to operate here again. Too much gov't interference is what drove them out as far as I know.
Debbie
Repeal NAFTA
That was when all our jobs started going overseas.
Repealing NAFTA really should be on our front burner in my opinion.
I'd rather die on my feet than live on my knees...
Put Back Tarriffs - Import Taxes
Repeal Nafta and go back just a bit further.
Put back some of the taxes and import tarrifs so that there is not as much incentive to push things overseas.
But not enough taxes and tarrifs such that you get an incentive to produce junk at an inflated price.
Fix the dollar and drop the managed trade agreements
A sound currency would allow the market to reallocate workers and resources to more productive and sustainable ends while raising real wages across the board. Taxes and tariffs enlarge government and impoverish consumers, the marginal consumer is affected disproportionately. It is not necessary to use force, coercion, and theft to encourage production in a country, in fact it is counterproductive. Remove the disincentives to produce, the perverse incentives to export jobs, and allow liberty to give rise to prosperity.
republic
we will see things are
we will see things are heating up
Well...
If US Government cashed in just 20% of their International investment chips (held outside of the dollar), in conversion back to the dollar, the dollar would shoot through the roof, with the dollar index jumping from 70 from its low to over 94 in the snap of a finger -
http://cafr1.com/
so you disagree with celente?
so you disagree with celente?
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul
I disagree to think we are broke
the "national" government has been bankrupt since 1791.
The real assets are held in the private.
The problem is people don't understand there is a private side and a public side to our system.
Private side of bank, public side of bank
Private side of court, public side of court
Assets are in the private, the re-flection of those assets is what holds value in the public. I.E. title to the goods
People think they are buying the goods at the store.
THIS IS A FALLACY.
We purchase reciepts or TITLE to those goods. If you leave the store without TITLE you will be "charged"
The good or service is the promotional item going along with the piece of paper (reciept-title) that you actually purchased...with another piece of paper. (debt-note)
Because we have gone through three 70 year-international bankruptcy cycles.
1st cycle- "national" government lost sovereignty (1791)
2nd cycle- "states" lost sovereignty (1861)
3rd cycle- "people" lost sovereignty (1931)
Peoples without sovereignty are not allowed to use asset money in public, thus we use liability money.
This liability-debt-note-money is a reflection of money in the public, however, this "credit-money" has already been "pre-paid" with all our real assets-title-gold/silver-allodial land etc.
We create personal debt instruments (checks) give them to the bank and they turn them into public debt instruments (FRN's).
But in our system ALL debt is money, and debt is merely a "promise" to pay. So therefore, no one "pays" for anything and no one "gets paid"
We "pay" ourselves by creating a private debt instrument...a check. (Debt-money) the bank takes that check and cashes it in, autograph on check authorizes "bank" to go into "private-exemption-pre-paid-credit-account" and retrieve the Federal Reserve "credits".
Thus we "loan" money into existence.
It is a "loan" from the private side into the public side.
We "loan" the money to ourselves.
Everything you said is true
Everything you said is true except that we are broke. The only thing backing public money on the private side is credit. Credit is not an asset it is a liability. There is no gold and silver which is what is supposed to be on the private side of the ledger. So as you said we loan money into existance on our credit or usually the bank does and people don't realize the money was created on the spot on thier signature and then are tricked into paying it back out of other fake mnoney created that they managed to get form other people. Even FRN's are based on our credit, our signatures on the SS trust docs etc.
I have heard of people accessing thier private side and I myself have tried various methods to access it but have been unsuccessful thus far. I suspect TPTB have sold the paper on those signatures along with the kitchen sink and the doors and windows to stay afloat and there is nothing but the illusion of assets.
The CAFRs our going belly up like all investments they are all invested in the worthless paper too. Frankly I am surprised they have kept the façade up as along as they have. The only reason I think they have been able to is they sucked the rest of the world into the dollar scheme also and they know if they dump it they will loose too so they continue to prop it up while countries like China and I am sure others try and get into hard assets as fast as possible.
We have been on borrowed time for the last couple years. They may squeeze another couple years out but this ship is on it way down and there is no way of saving it.
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
Hmmm...what?
Is oil going to stop flowing?
Is food going to be worthless?
Will toiletpaper not need to be purchased?
Will we stop using Internet, computers, tech companies become worthless?
People all stop traveling?
Every corporation on planet earth will be worthless?
They own collectively the entire stock market...unless we all stop working I don't see all the companies losing all value anytime soon.
Especially internationally, gold mining companies worthless, water bottling companies, plastic manufacturers?
I don't exactly buy the poverty-end of the world-mentality. If it happens, it is because we ignorantly created it.
I don't see poverty, I see banks steamrolling people.
I see un-informed peoples going up against well-armed, well-researched, well-funded, well-coordinated, well-entrenched banks and being suprised when they lose it all.
Wealth is really ideas and the energy and freedom of bringing them to life.
If we gave to each other...we wouldn't even need money and we would be wealthy beyond measure.
We could lose every penny and as long as we have freedom (land), we could be wealthy virtually overnight. (Please people keep your homes)
There are technologies breaking out right now which will truly change the mankind for at least a thousand years (I believe) and will propel us to an immeasurable wealth of "AMAZING LIFE EXPERIENCES" (true wealth in my opinion)
How do we become wealthy?
If foundations ran our businesses not-for-limited-profit-share, but for the benefit of the community, would we have ghettos for long?
Like example...mission of foundation-private trust is to feed the entire community low-cost, homemade organic meals.
Who could interfere with that? Does anyone have any links to the laws that might allow our "government" to control the actions of a private trust?
Is this not how Bill Gates controls his private affairs?
Might we take a little advice from some of the smartest-wealthiest people on earth?
Or we think them blind to what is coming?
Maybe I am a little strange cause of being connected all around with family that either is wealthy and is just outside the immediate family or immediate family that have lost fortunes.
This is my passion. I believe we are rich, I truly do. Just being brave would make us rich.
Why should banks own every home in the country?
There is ample funding out there if we just look, I mean, just think how much money people send in for IRA 401k's thousands of miles away to people they have NEVER met.
Why not some of that money be invested in the community at a reasonable rate of return?
This is just one idea....all I am saying is if we lived without monetary limitations...what could we do?
Why do we always insist on putting limitations upon ourselves?
I thought, if there is a will, there is a way.
Are we saying there is no way, even with will?
I think we get caught up needing an asset behind the money, but do we really?
And are your really sure it is not, I heard that it was done potentially as a gold-lease on an inflating-deflating bond that held the underlying value, but inflated and then deflated after a set time.
These bond fluctuations were highly profitable for those in the know....is this true, I don't have a clue, but that is just it...who really knows the whole picture?
I say, only the open-minded and extremely well-researched
Yes, the banks are now barred from accepting BPN's because they were stealing them. However, the IRS can still accept them. I believe there are people getting remedy all over, but it is cutting edge right now.
One man just got offered $15 million to stop teaching this stuff.
If debt is worthless...then why is our $12 trillion outstanding balance a big deal.
It's just paper..a "promise" to pay right?
If debt is SOOOOOOOO WORTHLESS THEN WHY DON'T WE OWN ALL THE BONDS?
Maybe we can?
Maybe life is all about evolving into asking the right questions?
How many say to themselves if money = debt, then I don't want to collect what I believe is "money", I want to earn-collect debt, cause debt=money?
Try an experiment, try
Try an experiment, try charging up your credit card and never making a payment. When asked for a payment just ask them to raise your limit, Let us know how it works out.
Food oil etc. is not worthless it is buying on credit with nothing that is worthless. Sooner or later like all credit cards the bill comes due. The only difference between your credit card and the national credit card so to speak is the credit seem to be unlimited at the moment. But that will soon prove wrong.
The Debt is phony we don't owe what was never loaned. I agree we are rich but the politically connected have been stealing our wealth through the credit scheme. This so called depression is contrived for another taking of wealth. Who ends up with all the property when all the phony mortgages are called in and the ignorant people don't know they already paid for thier houses by signing the promissory note?
If you think this can go on for ever and that it is part of evolving you are in for a rude awakening. The creditors on the supposedly unlimited credit cards are already cutting off the credit. Soon the card will have to be cut up and sent back. There is no other way it can end.
"Yes, the banks are now barred from accepting BPN's because they were stealing them. However, the IRS can still accept them. I believe there are people getting remedy all over, but it is cutting edge right now."
"One man just got offered $15 million to stop teaching this stuff."
You have been listening to to many conference calls. Ask for verification. It will never be forth coming. I have done BPN's negative averment, a4v, and beneficiary trust access and a few other things and never got remedy. I do have a copy of a BPN that got accepted by a court but that was years ago. IRS might take them but have never verified it, I am still working on some stuff for mortgages but still there is lots of talk on the calls but no verification.
-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
People are getting remedy on credit cards right now
That is one I know for sure people are getting remedy on. No invoice = no debt, and they know how to collect on billing for illegitimate phone calls. Once we are too expensive, they back off.
Then IRS taxes, many people are also getting remedy in this area as well.
I do know SOME that have gotten remedy in their homes, and right now I have a close family member going through it right now. No, I haven't been listening to too many conference calls. I am actually working with peoples that do this everyday. They just got connected with even better resources and are learning how to keep it all in the private. Basically, better strategies come out everyday.
there are people going to court everyday and asserting the rights we should be asserting ourselves. If enough people did that, the whole thing would change...it would have to.
Okay, so what is the remedy then?
Sit back and let them run us over and cross our fingers hoping Ron Paul will get in the White House and suddenly transform all of Washington?
If they are "stealing" our wealth...WHERE THE HELL IS IT?
And yes, I realize they are literally "shutting down" and "stealing' peoples credit lines. Since we created the line, they have no right to take it, but are doing so anyways...which is fine.
Do we really need "credit" anyways?
Could we not create local financing in some other fashion?
I don't see why not, I look at everything in an unlimited fashion now. If the big system collapses, we will just build very strong-powerful local economies through non-profits and alternative financing.
And yes there is plenty out there...I know for a fact there are some very wealthy people interested in helping the american people, they just don't quite know how and are looking for the best answers.
If we provided some answers, I truly believe all the other details would fill in themselves.
This is the biggest struggle of mankind...it is not supposed to be easy.
And what if most these CAFR funds are placed in inflation-proof assets? Assets used as collateral backing for ongoing Federal Reserve Credits?
What if the whole system doesn't collapse?
What then?
ok show me where those
ok show me where those international chips are..
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul
Would China parry that move by redeeming some of their....
U.S. Treasuries to keep the status quo?
Well...
Any Company or in fact Country can be "made" or "broken" through the use of those government investment funds. China and India in 2007 restricted new US "Government" investments, now several trillion dollars strong in China and India so that US Government investments would not further increase control (take-over) in their own markets. China and India learned by seeing what happened to Mexico then Russia when the US Government investment machine came rolling on in.
Do you know how many trillions of dollars YOUR Local and Federal Government has invested with Mexico, China, the old Soviet block countries? Investments held in foreign currency? Government investments that greatly profit from that cheap labor abroad and a lower dollar.
Investments that profit even more when the dollar drops in value due to foreign currency exchange rates?
Taxes Collected This Year by just: US Federal Government
Double this figure with local Taxation added
$2,400,000,000,000
The amount of international assets held by governmental composite wealth is well in excess of
$100 Trillion
Where is that $100 trillion
Where is that $100 trillion accounted for? Does the GAO have info on this?
I would appreciate you sharing some links with additional info if you have any.
...
Gladly...yes there is plenty of evidence
Maybe I am mistaken, but CAFR is going to be the biggest story yet.
Research:
Comprehensive Annual Financial Report
Government Wealth
Walter Burien
Here are a couple links to get started:
http://cafr1.com/NYSR.html
http://cafr1.com/STATES/GEORGIA/GA%201998%20CAFR.pdf
http://cafr1.com/STATES/
http://www.window.state.tx.us/finances/pubs/cafr/04/04_cafr_...
http://www.delawareohio.net/UserUploads/UserDocuments/Depart...
That should get ya going..
(Actual Government Annual Financial Reports produced each year as of 2010 is over 184,000 - "Collective" investment wealth funds - 110 trillion dollars)
then why is the economy going
then why is the economy going down the tubes?100 trillion plus that would take care of every problem.. I call BS..
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul
Why?
This is a very complex question, and simple at the same time.
Simple explanation:
$110 Trillion...hello...access to unlimited-investment-capital? Not sufficient motivation? Total power over your fellow man, fellow nations?
Little more detailed:
A giant money TRUST was established (FED)
In a trust there are three parties
1.) a TRUSTOR (creator of trust)
2.) Trustee
3.) Beneficiary
The "government" is the "trustee" overseeing the "assets" for the beneficiaries (US citizens)
In a trust relationship, there is no need for the trustee to disclose the details of the trust to the beneficiaries.
If beneficiaries are deemed incompetent (commercially incompetent) then they will be treated as such until they fully demonstrate that they acquire the adequate competency in commercial affairs.
Simpley put, if we knew how to handle our commercial affairs, they would not have to be there any longer.
The only reason we are not wealthy right this second is simply IGNORANCE OF OUR WHO WE ARE...WHAT OUR HISTORY
REALLY IS..HOW MUCH POWER AND WEALTH WE HAVE AT OUR FINGERTIPS
You call BS...without any research?
CAFR funds are BS?
Hmmm
he doesn't..
he doesn't..
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul
really then why is the US in
really then why is the US in depression? why is the US doing anything they can to raise taxes? why not sell 20 trillion off and use it here? show me where they collected all this tax revenue?
“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul
To gain absolute power over your life...
He who fails to assert his rights has none.
This system was set up since the beginning. There is no mercy for the sheep in america, if everyone hasn't noticed.
These people are planning, hoping, praying that we don't find out about the massive stored wealth and start using our rights to gain freedom once again.
Banks do not "loan" money to make money.
Banks "loan" money to "control" the relationship.
It's all about control...there has never been a empire in history (that I am aware) that has given freedom without an initial struggle.
Nothing is ever given, and well, we think our politicians are stupid and un-informed.
Ha...they are surrounded by the best and the brightest helping them plan every detail of stealing the entire populations life energy and leaving us completely clueless as to this fact.
I believe this is one area Ron Paul is not allowed to discuss as would potentially have immediate reprecussions.
It's too big. We are a distracted people, settling to be entertained, instead of becoming powerful masters ourselves.
On the one hand, one can hate powerful leaders who pretend they are gods, but there are so many slaves, maybe we create the need for them ourselves.
And if we recognized this, we could take on the responsibility ourselves, stop playing the debtor-slave role and start learning to play the creditor role.
If they told us the "truth" it would compromise their whole system.
There is a maxim of law that basically says, "If you are dumb enough to be decieved, that is your problem"
Some figure, if we were "really" blessed by God, then He will see to it that we don't run into misfortune.
If we are in misfortune, then we are probably not following God and it is not "their" problem.
Obviously our "intuition" is either malfuntioning or we are completely missing the signal
(and by God I mean any divine energy term you want to use to fictionalize the Creator of Life- [Grand Intuitional Guidance etc.] who cannot be contained by words)
These "bankruptcies" (of practically every nation on earth) are just a way to get total control of all the resources and energies of the people through deception..is that so hard to believe?
Also, in our entire history, we as a people have never stepped up to retire the debt ourselves. Not until now..people are starting to now because they know it is easily possible if enough get together.
China is also publicly bankrupt BTW
Kings, Thanks for explaining.
It sounds like China, India, etc. are the pawns after all in this when comparing your numbers.