FedUpUSA

Archive for October 11th, 2011

So, why is that?

And yet, people keep scratching their heads wondering why people have decided to Occupy Wall Street.

Maybe it’s stuff like this? ^^^^   Nahhhh….couldn’t be.

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America, you’re being destroyed from within.  And you don’t even know it.  If you want to know why you lost your job, you better pay attention to what OUR government is doing to you…but not just to the poor American who is now unemployed, you Americans working are FUNDING the literal destruction of your fellow Americans’ jobs.  If you’re paying Medicare taxes (and all of us who are working are doing that), then you are directly kicking a fellow American out of his job.  How the hell can this be?  Well…..

Medicare and Medicaid money have been used to outsource American jobs, and US workers say they were fired and discriminated against by a healthcare insurance company funded solely by federal funds, according to a suit filed in Los Angeles Superior Court.

 By way of Molina, several billion of UStaxpayer’s dollars have gone directly to India without any benefit to theAmerican company or the US taxpayer,” the suit states.

The suit, filed on behalf of more than 50 employees, alleges Molina Healthcare Inc. used federal money, defrauded the federal government, failed to pay overtime, discriminated, terminated and violated numerous federal and state labor codes. Molina collected over $9 billion in federal funds in the last three years, the suit states.

‘Since 2006, Molina has spent a large portion of the taxpayer’s money to fire American workers and to hire an abundance of workers brought in from India.

The suit further claims:

… in or around 2007 and 2008, Molina terminated approximately 100 American workers in various states to make room for 100 laborers from India to handle all Molina’s US business operations involving Medicare and Medicaid claims … Molina then billed the US government for the cost it incurred by importing workers from India.

The suit, filed in Los Angeles Superior, alleges Molina used a H1-B visas to bring the workers into the US. “This case is not about illegal or undocumented workers,” the suit states.

To bring in workers from India, the suit alleges Molina used a Cognizant Technology Solutions, a California-based recruiting company, and further claims Cognizant “had to provide false statements to the federal government because Cognizant had to certify there were ‘no qualified United States citizens.” On Jan. 13, 2010, the US Dept. of Labor approved Cognizant’s application for 40 H1-B visa holders from India to work for Molina, in the middle of a recession when many American workers were seeking jobs.

Cognizant imports H1-B employees almost exclusively for India and leases said employees to United States employers … Cognizant has received billions of dollars through it’s business practices … and has displaced millions of of competent US workers from their jobs.

“The recession in the United States made it a virtual certainty that there were US workers available,” the claim states.  They were hired at $50,000 a year without benefits. To file the federal government claim, Cognizant certified that it searched and could find no qualified American applicants (or green card holders) to fill job openings for programmers and security analysts for the same pay.

On Jan. 14, the day after the application was approved by the Labor Department, Molina fired 40 workers – programmers, managers and security analysts, the suit states. Most fired employees earned between $75,000 and $100,000 a year with benefits. Employees listed in the lawsuit also claim the Indian managers allowed the celebration of India’s holidays, but not US holidays and ‘actively discouraged US workers from celebrating US holidays and traditions,” such as Fourth of July, Thanksgiving and Christmas, by assigning mandatory work that required working holidays.

The suit seeks unspecified damages against Cognizant, Molina and several Indian managers.

Your government is intentionally destroying American jobs to enrich certain preferential corporations and using taxpayer money to do so.  Are you beginning to understand WHO the criminals are?  And just to be clear, the politicians involved are both Republican and Democrat.

Wade Booth-Corona – FedUpUSA

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Until the control  of the issue of currency and credit is restored to government and recognized as  its most conspicuous and sacred responsibility, all talk of sovereignty of  Parliament and of democracy is idle and futile… Once a nation parts with control of its credit, it matters not who makes the nation’s laws… Usury once in control will wreck any nation.   William Lyon Mackenzie King

The American Revolution, in no small part, was a repudiation of the central banking tyranny exported to the New World by the Bank of England. Few legacies have grown more despotic than the consequences of living under the rule of fractional reserve banking. Many good willed conservatives understand that the system is imploding. Some envision a second American Revolution that expels the remnant Tories that have hijacked our Federalism separation of powers form of government. Woefully, the prospects for a States Rights revolt are slim. However, the scenario of a domestic French Revolution style carnage is brewing with every escalation of the pompous arrogance worthy of a Jean-Joseph, marquis de Laborde or the manipulative usury of the House of Rothschild.

The eruption of populist outrage is long overdue. The lack of objective mainstream media coverage is expected. Their attempt to spin the natural disguise for a corrupt establishment in the hearts of sincere and persecuted citizens is typical. The elite’s message is that they will either control the movement, or at the very least, strip it from any positive synergism. Send in the clowns, like Michael Moore. Wall Street Capitalism: A Love Affair explains the hideous agenda of the clueless socialists that condemn all things Wall Street, while advancing the ultimate goals of the New World Order globalists.

A Privatised Money Supply, presents an informative analysis.

This method of theft operates as the normal course of business. What the banksters do with the money they obtain from debt created money is even more repulsive. All the financial speculative instruments of leveraged trading just compound the heist. So what do these outlaws do with all the money?

The end net result is that they buy, especially at rock bottom prices, all the real assets that the filthy money can purchase. When you think of Wall Street greed, go beyond the usual suspects and focus on the controllers of the assets that are under the hegemony of the central bank. Here lies the reason why the rebellion must remove the engine of enslavement from the landscape for any future financial system of commerce.

Think about who really owns the land, the buildings and the resources in our country. In order to really understand the scope and extent of the economy, the differential between actual Main Street enterprise, that feeds, clothes and shelters the population, is minuscule when compared to the financial assets, both liquid and real property, that is under the command and control of the central bank.

Most individuals do not own property encumbrance free. Most debt is owed to the banksters. The middle class is in a tailspin because the Fed has a zero interest rate policy that effectively diminished your return on capital of your savings to nothing. The same is not true for the banks. The fact that they have in excess of a 2 Trillion Dollars cash hoard on their balance sheets and refuse to lend out money to the general public, demonstrates that the inside money is waiting to pick up even more real assets, when the signal comes for the total collapse.

TARP, QE2 and the Twist are all ploys to enrich the selective banks that are part of the orthodox Fed fraternity. Technically all federal charted banks have an ownership interest in the Fed. Who among us are so naive to think that every bank is equal to the sacredly held corporate interlocking directorates that make and direct monetary policy?

Only when the middle class takes to the streets with a spontaneous civil disobedience commitment that dwarfs the Tea Party movement, will the central banking tyranny be eliminated. All the fraudulent debt that funded the asset acquisitions of crooks must be clawed back. As long as the banksters hide behind the shield of corporation personhood, LLC liability exemption and government guaranteed loans, the ordinary family will continue to be reduced to perpetual and permanent poverty.

What kind of revolution is coming to America? The lesson of the French élan of bloodletting to remove an aristocratic class is not pretty.  However, a national discussion needs to concentrate on:

1)  Methods of eliminating the Federal Reserve fraud and restoring an honest money system for commerce

2)  Repudiation of the corporatist “Free Trade” global business model and a return to a merchant class free enterprise independent domestic economy

3)  Confiscation of assets and wealth acquired through illegal systematic RICO style schemes that demand treble damages from their ill-gotten gain

Americans deserve property right protections from the criminal extortion and the cold-blooded offenses that the banksters used, to steal the national wealth. The expanding protest must result in a true restoration of a traditional upwardly mobile society, not an expanded nanny state. The suffocating debt and the profane system that spawned it must end. The term “Citizen” does not apply to elitist plutocrats. If Americans want to stave off a 21st century version, of the Committee of Public Safety, get behind the “Revolt against the Fed”. Tear down the House of Rothschild. This is one time the concept of “Reparations” has standing in a legitimate court of law.

SARTRE

This is an outrage.

Yglesias tells us that some Occupy Wall Street protesters have picked up Ron Paulish monetary ideas — although some know better. I thought I’d say a word about one particular idea that sounds plausible to some people but is actually quite wrong: banning fractional reserve banking.

I know that’s a popular theme among some Austrians. But it’s actually neither a good idea nor even feasible.

The crucial thing is to understand what banks do. And it’s not mostly about money creation! Instead, what banks are for is helping to improve the tradeoff between returns and liquidity.

That’s a very quaint notion.  But were it true there wouldn’t be any such thing as systemic risk!

Why?

Simple: If you only loan against actual asset values there is no systemic risk possible; if you get in trouble you simply sell down the assets until you no longer are.  Since you’ve never “created money” there’s no systemic risk that can arise.  Ever.

Of course this isn’t how it works in the real world today.  That’s the “Bailey and Biddle” model from It’s a Wonderful Life, but pretending that we live in that world today is beyond fanciful.

For proof one need only look at the Credit Card in your wallet – or, for that matter, the student loan.  If you wish to get more esoteric you can look at the Credit Default Swap.

None of these are backed by capital in today’s banking system, but all should be – dollar for dollar.  Why?  Because all are claims on something that does not, today, exist!

That is functionally the precise same act as a naked short.  You put into circulation that which does not exist “on the come” that it will in the future.  In the case of stock that is naked shorted you’re counterfeiting the stock of the corporation in question – you’re representing that you have something to deliver (the stock) but only the company in question has the right to create (by issuance in exchange for capital) that stock.

In the case of naked credit creation unbacked by an asset the bank is effectively naked shorting the currency, betting “on the come” that production will in the future cause the government to issue actual currency with which to make the bet good!

That’s an outrage!  It’s also how we get massive asset inflation.

Krugman knows this, of course.  After all, he has a Nobel Prize and a PhD, right?  He can’t possibly be so ignorant as to claim that banking as currently practiced actually encompasses (mostly) lending against actual assets – that is, liquidity matching for a price – can he?

After all, were this the primary function of banks these days there could never be systemic risk, since lending against assets can’t cause it, as if the person who borrowed doesn’t pay you simply seize the asset and resell it into the market, extinguishing the debt without systemic consequence (the borrower, of course, goes broke by such a process, but that’s the risk of borrowing that which you can’t pay back!)

The claims of charlatans must be matched against the factual record of not only what has occurred before but what threatens to occur now.

PS: This is why I support – strongly – a “One Dollar of Capital” LAW for banks, and why you should too.

For IMMEDIATE RELEASE

For more info CONTACT:

Bill Still 540.664.4224

Mail: thesecretofoz@gmail.com

Website: www.secretofOz.com

Journalist, author and award-winning documentary film director, Bill Still, announced today on radio station KTKK out of Salt Lake City, Utah that he will seek the nomination of the Libertarian Party for President of the United States. He says he is currently in discussions with potential running mates.

“My platform centered like a laser beam on the monetary reform issue,” said Still. “This is the root cause of all our economic problems today and until this is addressed, no amount of stimulus or austerity will fix the U.S. economy. The Republicans and Democrats are barking up the wrong trees. As the great populist of the 1896 Presidential election campaign, William Jennings Bryan, put it in his famous “Cross of Gold” speech:

“We say in our platform that we believe that the right to coin money and issue money is a function of government. We believe it. We believe it is a part of sovereignty….

“Those who are opposed to this proposition tell us that the issue of paper money is a function of the bank and that the government ought to go out of the banking business. I stand with Jefferson rather than with them, and tell them, as he did, that the issue of money is a function of the government and that the banks should go out of the governing business.

“When we have restored the money of the Constitution, all other necessary reforms will be possible, and that until that is done there is no reform that can be accomplished.”

Still has already picked up support amongst the Libertarian delegations in Pennsylvania, Massachusetts, and Utah. “We may well be the front-runners going into the Libertarian Party National Nominating Convention on May 2-6, 2012 in Las Vegas.”

According to Still, who wrote and directed the 1996 classic, The MoneyMasters, the 2010 award winning documentary The Secret of Oz, and the 2011 book, No More National Debt, “Simply ending the Fed, won’t fix this.  As Prof. Milton Friedman told me, ‘If you end the Fed and do nothing about fractional reserve lending, you’ve done nothing.’”

“My proposal is very simple,” said Still. “It is really nothing new – just rediscovered at this critical juncture in U.S. history. As Professor Irving Fisher of Yale University explained it in his 1936 book, 100% Money:

“Nationalize money, but do not nationalize banking.”

“Here are the two inviolable pillars upon which any true reform of our economic system must rest,” said Still:

Pillar #1: End government borrowing. A sovereign nation does not have to borrow, in fact, being debt-free is the very definition of sovereignty. Pay off the existing bonds  — which is our National Debt — as they come due, but pay them off with debt free U.S. Notes (or their electronic equivalents) instead of Federal Reserve Notes, which are all borrowed into existence.

Please see my short (3 min 54 sec) YouTube on this topic:

Pillar #2: Banks should only be able to lend money they actually have. This is called “full-reserve” banking. Before the crash, commercial banks were lending out between 10 and 300 times the amount of money they actually had. Therefore, they are in complete control of the American money supply, instead of we, the people being in control as is called for in Article 8:

“The Congress shall have Power To … coin Money, [and] regulate the Value thereof….”

Please see my short (5 min) YouTube on this topic:

A YouTube of Still’s latest documentary can be found at:

 ##

Oh, you knew Corker would pull out the tired “Smoot-Hawley” line, right?

There’s no question about it: China manipulates its currency. The value of the yuan is largely determined not by market forces but by a “managed float.” Beijing sets a target range within which the yuan can be converted into U.S. dollars via markets in Hong Kong. Under most analyses of purchasing power parity, the yuan should probably be at a higher value relative to the dollar.

…..

On the latter question—what should we do about this—the answer is: not start a trade war.

Yeah yeah Bob.  Let’s look at the facts related to China trade policy:

• Despite the claim that this “trade” is good for America, we import $4 worth of goods from China for every $1 we export.  China insures this through tampering with the exchange rate of the Yuan, effective slave and actual child labor, environmental arbitrage, protectionism and forced local production of “imported” products (illegal under any reasonable interpretation of “free trade” incidentally) and intellectual property theft.  Every time we pass one of these “free trade” bills we get the same result – a larger trade deficit.  The only thing “free” is that the other nations are free to rob us.
• Tariffs are the Constitutional method of raising revenue and addressing these imbalances.  They’re also how the government funded itself through the first 100 years of this nation’s history.  It’s time to bring it back as the primary means of government funding.
• Trade deficits are self-correcting unless the monetary authority “replaces” the capital otherwise drained with more credit.   That is, what we have allowed to happen could not have “worked” for the time it did without outrageous and blatant monetary manipulation by The Federal Reserve.  That same manipulation, however, is what has enabled the Federal Government to run the huge deficits it has over the last two decades!

Now that the consequences are on the table The Senate is facing pressure to do something about it.  But cutting off the trade deficit (which we must do) will also cut off the credit money expansion that has so far been used as the sop to allow Congressional overspending.

See, without that expansion the capital drain of a trade deficit causes the relative value of currencies to shift and that naturally cuts off the process.  It requires active and intentional interference to stop this from happening – an active and abusive interference that just happens to fit nicely with the Congressional desire to “give everyone a pony.”

But there are neither real ponies nor do the funds actually exist to pay for them.  Filling capital holes with credit is idiotic: While Capital and Credit are fungible in the marketplace they are not identical as one is economic surplus from past production while the other is a promise to produce a surplus in the future.

Note the distinction and the problem that arises and which we now face: What happens if there is no actual economic surplus when “tomorrow” comes?

Stick a sock in it Corker: You, and your cronies in The Senate (and House) have serially abused this nation and her citizens for three decades with unsustainable trade and spending policies.  It is not “protectionism” to insist that a 4:1 imbalance in trade stop, and to use the Constitutional means available to Congress to put a stop to it.  What’s abusive and should be treated as outright sedition was running these trade policies in the first place – and on that count, The Senate is responsible for both ratification of treaties and trade policies, is it not?