The Federal Reserve Cartel: Part IV: A Financial Parasite

By Dean Henderson


(Excerpted from Chapter 19: Big Oil & Their Bankers…Part four of a five-part series)

United World Federalists founder James Warburg’s father was Paul Warburg, who financed Hitler with help from Brown Brothers Harriman partner Prescott Bush. [1] 

Colonel Ely Garrison was a close friend of both President Teddy Roosevelt and President Woodrow Wilson.  Garrison wrote in Roosevelt, Wilson and the Federal Reserve, “Paul Warburg was the man who got the Federal Reserve Act together after the Aldrich Plan aroused such nationwide resentment and opposition.  The mastermind of both plans was Baron Alfred Rothschild of London.”

The Aldrich Plan was hatched at a secret 1910 meeting at JP Morgan’s private resort on Jekyll Island, SC, between Rockefeller lieutenant Nelson Aldrich and Paul Warburg of the German Warburg banking dynasty.  Aldrich, a New York congressman, later married into the Rockefeller family.  His son Winthrop Aldrich chaired Chase Manhattan Bank.  While the bankers met, Colonel Edward House, another Rockefeller stooge and close confidant of President Woodrow Wilson, was busy convincing Wilson of the importance of a private central bank and the introduction of a national income tax. A member of House’s staff was British MI6 Permindex insider General Julius Klein. [2]

Wilson didn’t need much convincing, since he was beholden to copper magnate Cleveland Dodge, whose namesake Phelps Dodge became one of the biggest mining companies in the world.  Dodge bankrolled Wilson’s political career. Wilson even wrote his inaugural speech on Dodge’s yacht. [3]

Wilson was a classmate of both Dodge and Cyrus McCormick at Princeton.  Both were directors at Rockefeller’s National City Bank (now Citigroup).  Wilson’s main focus was on overcoming public distrust of the bankers, which New York City Mayor John Hylan echoed in 1911 when he argued, “The real menace to our republic is the invisible government which, like a giant octopus, sprawls its slimy length over our city, state and nation.  At the head is a small group of banking houses, generally referred to as the international bankers”. [4]

But the Eight Families prevailed.  In 1913 the Federal Reserve Bank was born, with Paul Warburg its first Governor.  Four years later the US entered World War I, after a secret society known as the Black Hand assassinated Archduke Ferdinand and his Hapsburg wife.  The Archduke’s friend Count Czerin later said, “A year before the war he informed me that the Masons had resolved upon his death.” [5]

That same year, Bolsheviks overthrew the Hohehzollern monarchy in Russia with help from Max Warburg and Jacob Schiff, while the Balfour Declaration leading to the creation of Israel was penned to Zionist Second Lord Rothschild.

In the 1920’s Baron Edmund de Rothschild founded the Palestine Economics Commission, while Kuhn Loeb’s Manhattan offices helped Rothschild form a network to smuggle weapons to Zionist death squads bent on seizing Palestinian lands.  General Julius Klein oversaw the operation and headed the US Army Counterintelligence Corps, which later produced Henry Kissinger.  Klein diverted Marshall Plan aid to Europe to Zionist terror cells in Palestine after WWII, channeling the funds through the Sonneborn Institute, which was controlled by Baltimore chemical magnate Rudolph Sonneborn.  His wife Dorothy Schiff is related to the Warburgs. [6]


“The real menace to our republic is the invisible government which, like a giant octopus, sprawls its slimy length over our city, state and nation. At the head is a small group of banking houses, generally referred to as the international bankers”. John Hylan, New York City Mayor, 1911


The Kuhn Loebs came to Manhattan with the Warburgs. At the same time the Bronfmans came to Canada as part of the Moses Montefiore Jewish Colonization Committee.  The Montefiores have carried out the dirty work of Genoese nobility since the 13th Century.  The di Spadaforas served that function for the Italian House of Savoy, which was bankrolled by the Israel Moses Seif family for which Israel is named.  Lord Harold Sebag Montefiore is current head of the Jerusalem Foundation, the Zionist wing of the Knights of St. John’s Jerusalem.  The Bronfmans (the name means “liquor man” in Yiddish) tied up with Arnold Rothstein, a product of the Rothschild’s dry goods empire, to found organized crime in New York City.  Rothstein was succeeded by Lucky Luciano, Meyer Lansky, Robert Vesco and Santos Trafficante.  The Bronfmans are intermarried with the Rothschilds, Loebs and Lamberts. [7]

The year 1917 also saw the 16th Amendment added to the US Constitution, levying a national income tax, though it was ratified by only two of the required 36 states.  The IRS is a private corporation registered in Delaware. [8]  Four years earlier the Rockefeller Foundation was launched, to shield family wealth from the new income tax provisions, while steering public opinion through social engineering.  One of its tentacles was the General Education Board.

In Occasional Letter #1, the Board states, “In our dreams we have limitless resources and the people yield themselves with perfect docility to our molding hands. The present education conventions fade from their minds and, unhampered by tradition, we will work our own good will upon a grateful and responsive rural folk.  We shall try not to make these people or any of their children into philosophers or men of learning or men of science…of whom we have ample supply.” [9]

Though most Americans think of the Federal Reserve as a government institution, it is privately held by the Eight Families.  The Secret Service is employed, not by the Executive Branch, but by the Federal Reserve. [10]

An exchange between Sen. Edward Kennedy (D-MA) and Fed Chairman Paul Volcker at Senate hearings in 1982 is instructive.  Kennedy must have thought of his older brother John when he told Volcker that if he were before the committee as a member of US Treasury things would be much different.  Volcker, puffing on a cigar, responded cavalierly, “That’s probably true. But I believe it was intentionally designed this way”. [11]  Rep. Lee Hamilton (D-IN) put it to Volcker that, “People realize that what that board of yours does has a very profound impact on their pocketbooks, and yet it is a group of people basically inaccessible to them and unaccountable to them.”

President Wilson spoke of, “a power so organized, so complete, so pervasive, that they had better not speak above their breaths when they speak in condemnation of it.” Rep. Charles Lindberg (D-NY) was more blunt, railing against Wilson’s Federal Reserve Act, which had cleverly been dubbed the “People’s Bill”.  Lindberg declared that the Act would, “…establish the most gigantic trust on earth…When the president signs this act, the invisible government by the money power will be legitimized.  The law will create inflation whenever the trusts want inflation.  From now on, depressions will be scientifically created.  The invisible government by the money power, proven to exist by the Money Trust Investigation, will be legalized.  The whole central bank concept was engineered by the very group it was supposed to strip of power”. [12]

The Fed is made up of most every bank in the US, but the New York Federal Reserve Bank controls the Fed by virtue of its enormous capital resources.  The true center of power within the Fed is the Federal Open Market Committee (FOMC), on which only the NY Fed President holds a permanent voting seat.  The FOMC issues directives on monetary policy which are implemented from the 8th Floor of the NY Fed, a fortress modeled after the Bank of England. [13]

In the fifth sub-basement of the 14-story stone hulk lie 10,300 tons of mostly non-US gold, 1/3 of the world’s gold reserves and by far the largest gold stock in the world. [14]


“When the president signs this act [the Federal Reserve Act], the invisible government by the money power will be legitimized.” Rep. Charles Lindberg (D-NY)


The world of money is increasingly computerized.  With the introduction by the Eight Families of complicated financial instruments like derivatives, options, puts and futures; the volume of inter-bank transactions took a quantum leap.  To handle this the fed built a superhighway eerily known as CHIPS (Clearing Interbank Payment System), which is based in New York and modeled after Morgan’s Belgium-based Euro-Clear – also known as The Beast.

When the Fed was created five New York banks – Citibank, Chase, Chemical Bank, Manufacturers Hanover and Bankers Trust – held a 43% stake in the New York Fed.  By 1983 these same five banks owned 53% of the NY Fed.  By year 2000, the newly merged Citigroup, JP Morgan Chase and Deutsche Bank combines owned even bigger chunks, as did the European faction of the Eight Families. Collectively they own majority stock in every Fortune 500 corporation and do the bulk of stock and bond trading.  In 1955 the above five banks accounted for 15% of all stock trades.  By 1985 they were involved in 85% of all stock transactions. [15]

Still more powerful are the investment banks which bear the names of many of the Eight Families. In 1982, while Morgan bankers presided over negotiations between Britain and Argentina after the Falklands War, President Reagan pushed through SEC Rule 415, which helped consolidate securities underwriting in the hands of six large investment houses owned by the Eight Families: Goldman Sachs, Merrill Lynch, Morgan Stanley, Salomon Brothers, First Boston and Lehman Brothers.  These banks further consolidated their power via the merger mania of 1980s and 1990s.

American Express swallowed up both Lehman Brothers-Kuhn Loeb, which had merged in 1977, and Shearson Lehman-Rhoades.  The Israel Moses Seif’s Banca de la Svizzera Italiana bought a 7% stake in Lehman Brothers. [16]  Salomon Brothers nabbed Philbro from the South African Oppenheimer family, then bought Smith Barney. All three then became part of Traveler’s Group, headed by Sandy Weill of the David-Weill family, which controls Lazard Freres through senior partner Michel David-Weill.  Citibank then bought Travelers to form Citigroup. S.G. Warburg, of which Oppenheimer’s Chartered Consolidated owns a 9% stake, joined the old money Banque Paribas, which merged into Merrill Lynch in 1984.  Union Bank of Switzerland acquired Paine Webber, while Morgan Stanley ate up Dean Witter and purchased Discover credit card operations from Sears.

Kuhn Loeb-controlled First Boston merged with Credit Suisse, which had already absorbed White-Weld, to become CS First Boston – the major player in the dirty London Eurobond market.  Merrill Lynch – merged into Bank of America in 2008 – is the major player on the US side of this trade.  Swiss Banking Corporation merged with London’s biggest investment house S.G. Warburg to create SBC Warburg, while Warburg became more intertwined with Merrill Lynch through their 1998 Mercury Assets tie up.  The Warburg’s formed another venture with Union Bank of Switzerland, creating powerhouse UBS Warburg.  Deutsche Bank bought Banker’s Trust and Alex Brown to briefly become the world’s largest bank with $882 billion in assets.  With repeal of Glass-Steagal, the line between commercial, investment and private banking disappeared.

This handful of investment banks exerts an enormous amount of control over the global economy.  Their activities include advising Third World debt negotiations, handling mergers and breakups, creating companies to fill a perceived economic void through the launching of initial public stock offerings (IPOs), underwriting all stocks, underwriting all corporate and government bond issuance, and pulling the bandwagon down the road of privatization and globalization of the world economy.

A recent president of the World Bank was James Wolfensohn of Salomon Smith Barney.  Merrill Lynch had $435 billion in assets in 1994, before the merger frenzy had really even gotten under way.  The biggest commercial bank at the time, Citibank, could claim only $249 billion in assets.

In 1991 Merrill Lynch handled 26.8% of all global bank mergers.  Morgan Stanley did 16.8%, Goldman Sachs 16.3%, Lehman Brothers 16.1% and Credit Suisse First Boston 14.5%.  Morgan Stanley did $60 billion in corporate mergers in 1989.  By 2007, reflecting the repeal of Glass-Steagel, the top ten NMA advisers in order were: Goldman Sachs, Morgan Stanley, Citigroup, JP Morgan Chase, Lehman Brothers, Merrill Lynch, UBS Warburg, Credit Suisse, Deutsche Bank and Lazard. In the IPO stock underwriting field for 1991 the top four were Goldman Sachs, Merrill Lynch, Morgan Stanley and CS First Boston.  In the arena of global privatization for years 1985-1995, Goldman Sachs led the way doing $13.3 billion worth of deals.  UBS Warburg did $8.2 billion, BNP Paribas $6.8 billion, CS First Boston $4.9 billion and Paribas-owner Merrill Lynch $4.4 billion. [17]

In 2006 BNP Paribas bought the notorious Banca Nacionale de Lavoro (BNL), which led the charge in arming Saddam Hussein. According to Global Finance, it is now the world’s largest bank with nearly $3 trillion in assets.

The leading US debt underwriters for the first nine months of 1995 bore the same familiar names.  Merrill Lynch underwrote $74.2 billion in the US debt markets, or 15.3% of the total.  Lehman Brothers handled $52.5 billion, Morgan Stanley $47.4 billion, Salomon Smith Barney $45.6 billion.  CS First Boston, Chase Manhattan and Goldman Sachs rounded out the top seven.  The top three municipal debt underwriters that year were Goldman Sachs, Merrill Lynch and UBS Paine Webber.  In the euro-market the top four underwriters in 1995 were UBS Warburg, Merrill Lynch, Deutsche Bank and Goldman Sachs. [18] Deutsche Bank’s Morgan Grenfell branch engineered the corporate takeover binge in Europe.

The dominant players in the oil futures markets at both the New York Mercantile Exchange and the London Petroleum Exchange are Morgan Stanley Dean Witter, Goldman Sachs (through its J. Aron & Company subsidiary), Citigroup (through its Philbro unit) and Deutsche Bank (through its Banker’s Trust acquisition).  In 2002 Enron Online was auctioned off by a bankruptcy court to UBS Warburg for $0.  UBS was to share monopoly Enron Online profits with Lehman Brothers after the first two years of the deal. [19] With Lehman’s 2008 demise, its new owner Barclays will get their cut.


“In our dreams we have limitless resources and the people yield themselves with perfect docility to our molding hands.” Occasional Letter #1, General Education Board, Rockefeller Foundation, 1913


Following the Lehman Brothers fiasco and the ensuing financial meltdown of 2008, the Four Horsemen of Banking got even bigger. For pennies on the dollar, JP Morgan Chase was handed Bear Stearns and Washington Mutual. Bank of America commandeered Merrill Lynch and Countrywide. And Wells Fargo seized control over the reeling #5 US bank Wachovia. Barclays got a sweetheart deal for the remains of Lehman Brothers.

Former House Banking Committee Chairman Wright Patman (D-TX), declared of Federal Reserve Eight Families owners, “The United States today has in effect two governments.  We are the duly constituted government.  Then we have an independent, uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution”. [20]

Since the creation of the Federal Reserve, US debt (mostly owed to the Eight Families) has skyrocketed from $1 billion to nearly $14 trillion today.  This far surpasses the total of all Third World country debt combined, debt which is mostly owed to these same Eight Families, who own most all the world’s central banks.

As Sen. Barry Goldwater (R-AZ) pointed out, “International bankers make money by extending credit to governments.  The greater the debt of the political state, the larger the interest returned to lenders.  The national banks of Europe are (also) owned and controlled by private interests.  We recognize in a hazy sort of way that the Rothschilds and the Warburgs of Europe and the houses of JP Morgan, Kuhn Loeb & Co., Schiff, Lehman and Rockefeller possess and control vast wealth.  How they acquire this vast financial power and employ it is a mystery to most of us.” [21]

Dean Henderson is the author of Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries and Das Kartell der Federal Reserve. Subscriptions to his Left Hook blog are FREE at www.deanhenderson.wordpress.com


  1. Behold a Pale Horse. William Cooper. Light Technology Press. Sedona, AZ. 1991. p.81
  2. Dope Inc.: The Book that Drove Kissinger Crazy. The Editors of Executive Intelligence Review. Washington, DC. 1992.
  3. Democracy for the Few. Michael Parenti. St. Martin’s Press. New York. 1977. p.67
  4. Descent into Slavery. Des Griffin. Emissary Publications. Pasadena 1991
  5. The Robot’s Rebellion: The Story of the Spiritual Renaissance. David Icke. Gateway Books. Bath, UK. 1994. p.158
  6. The Editors of Executive Intelligence Review. p.504
  7. Ibid
  8. Ibid
  9. Ibid. p.77
  10. “Secrets of the Federal Reserve”. Discovery Channel. January 2002
  11. The Confidence Game: How Un-Elected Central Bankers are Governing the Changed World Economy. Steven Solomon. Simon & Schuster. New York. 1995. p.26
  12. Icke. p.178
  13. Solomon. p.63
  14. Ibid. p.27
  15. The Corporate Reapers: The Book of Agribusiness.A.V. Krebs. Essential Books. Washington, DC. 1992. p.166
  16. The Editors of Executive Intelligence Review. p.79
  17. “Playing the Middle”. Anita Raghavan and Bridget O’Brian. Wall Street Journal. 10-2-95
  18. Securities Data Corporation. 1995
  19. CNN Headline News. 1-11-02
  20. The Rockefeller File. Gary Allen. ’76 Press. Seal Beach, CA. 1977. p.156
  21. Rule by Secrecy: The Hidden History that Connects the Trilateral Commission, the Freemasons and the Great Pyramids. Jim Marrs. HarperCollins Publishers. New York. 2000. p.77

Dean Henderson

Dean Henderson was born and raised on a cattle ranch near Faulkton, SD. He earned a BLS from the University of South Dakota in 1987 and an MS in Environmental Studies from the University of Montana in 1991. He founded/published/edited one of America's first political "zines" - The Missoula Paper - in 1990 in Missoula, MT - where he was also a regular columnist for the Montana Kaimin.

His Left Hook columns have appeared on Infowars, Globalresearch.ca, David Icke, Jeff Rense and other websites. His print articles have appeared in Multinational Monitor, In These Times, Paranoia and several other journals.

A self-described revolutionary and traveler to 50 countries, Dean co-founded of the U. of Montana Green Party and Ozark Heritage Region Peace & Justice Network. He was Vice-President of the Central Ozarks Farmer's Union and former President of the Howell County Democrats. In 2004 he won the Democratic nomination for Congress in Missouri's 8th District. He has authored four books.

His first book, Big Oil and Their Bankers in the Persian Gulf: Four Horsemen, Eight Families and Their Global Intelligence, Narcotics and Terror Network (www.createspace.com/3476183), has become a global cult classic among conspiracy researchers.

His second book, The Grateful Unrich: Revolution in 50 Countries, chronicles insights gained from a lifetime of overseas travel.

His third book, Das Kartell der Federal Reserve: Acht Familien beherrschen die Welt, is published is German language by Kopp Verlag. This is Chapter 19: The Eight Families of his Big Oil... book.

His latest book, Stickin' it to the Matrix, is a practical guide to dropping out of the evil Illuminati system and kicking it in the nuts!

He and his wife Jill are back in the US after an 11-month journey through South Africa, Swaziland, Lesotho, Botswana, Zimbabwe, Nepal, Thailand, Malaysia and Laos. They currently reside on an increasingly self-sufficient homestead in the southern Missouri Ozarks.

Latest posts by Dean Henderson (see all)

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19 Responses to "The Federal Reserve Cartel: Part IV: A Financial Parasite"

    • LC  December 17, 2012 at 9:11 am

      Click TRASLATE tab at top to see English translation that the Fed’s lease expires this week on December 21st, 2012.
      The elementary school massacre & may be other ones yet to come may be the Fed-Satanists sacrificial murders at the juncture…
      Don’t we wish that instead of the school the massacre should have occurred in the Fed building itself with top crime mob in congregation working on their next crimes????

  1. blakehamilton  December 16, 2012 at 12:12 pm

    As any jewish historian will tell you, The star of David was not an exclusively Jewish symbol, it only became associated with jewish people when the Rothschilds took it as their symbol. The Rothschilds are the people behind Zionism. Rothschild comes from the German ‘red shield’ & Meyer Amstel Bayer changed his name to Rothschild because he had a red hexagram flag in his home in Frankfurt. Where is this hexagram now? On the flag of “israel”.

    • LC  December 16, 2012 at 2:58 pm

      & probably on the tombs of Rothschilds victims!!!!!

  2. Allesandro  December 15, 2012 at 9:29 am

    Back in the late 1990’s, probably around 1998 Bill Clinton’s Administration began buying back 30 year Treasury Bonds and other outstanding U.S. Debt. I remember Greenspan commenting that it would not necessarily be good for the U.S. to eliminate it’s outstanding “Debt”. He never explained “Why” it would NOT be good,…or who it would NOT be good for, but I assumed he meant the 8 “Jewish Banking Families” who have ridden the wave of U.S. Debt to the zenith of power.

    Just look at the last 100 years, with the FED and the Income Tax. “Jews” who were outcasts in many countries, have risen to the most prominent positions of power in finance, control the markets, own the Media, screen any and all political positions before anyone runs, control the top corporations, education, and nearly everything else where power and money intersect. They have their own country, get the most aid and dictate foreign policy. They control the World Bank, IMF, BIS, FED, Bank of England, and most other mechanism’s of financial control.

    Meanwhile the rest of the world struggles to survive. They should be dismantled just on this circumstantial evidence. Their arrogance, treachery , attitude of supremacy and entitlement is nauseating to say the least. NOW ADD IN THEIR ROLE IN 9/11/01. Bad Karma awaits them, may it come in spades. Greedy, “Pull it” Larry Silverstein should be the first at the guillotine.

  3. Ann  December 15, 2012 at 5:44 am

    Sidney Warburg wrote a book entitled, “Hitler’s Secret Backers” which detailed the moneymen behind the war. Anytime there’s a war, revolution, or any kind of human or environmental disaster they’re somewhere in the mix.

    • LC  December 15, 2012 at 7:52 am

      Thanks Ann. Here is the book available free. Save it before it disappears:

      “HITLER’S SECRET BACKERS” BY: Sidney Warburg:


    • LC  December 17, 2012 at 9:03 am

      a notable translation mistake in numbers in the Sidney Warburg book is mistaking the German number Milliard (ie: U.S. Billion) with a U.S. equivalent of TRILLION.

      Below are references:

  4. LC  December 14, 2012 at 5:29 pm

    “Syndrome of Control” supports this Dean Henderson article & book:

    1/7 Syndrome of Control – Testimony of Jonathan May presented by Lindsey Williams – (TITLE)


    For the rest of above video copy paste title into you tube window and change 1/7 to 2/7, 3/7, etc.

  5. LC  December 14, 2012 at 4:55 pm

    House of Rothschild vs U.S. Presidents (ASSASSINATED)


  6. DaveE  December 14, 2012 at 4:20 pm

    Thanks for a great series, Dean. This stuff is dense, but required reading for any American who wants to free themselves from the tentacles of the mob. I’ll pass it on to anyone who will “listen”…….

  7. blakehamilton  December 14, 2012 at 2:13 pm

    The US Federal Reserve
    by Nikolay Starikov

    “ … We were told to forget each other’s last names and not to eat together the day before we left. We agreed to meet at a specific time at a train station on the coast of the Hudson in New York and also to arrive alone and as discreetly as possible. At the station we were to wait for Senator Aldrich’s personal car attached to the last wagon on the train headed south.”

    “When I got to the car, the curtains were closed, and only a faint glimmer of yellow light traced the shape of the windows. Once inside, we observed the taboo on last names and spoke to each other as “Ben,” “Paul,” “Nelson,” “Abe.” … We decided to resort to even greater secrecy and ceased using first names.”

    What is this? A description of a meeting of secret agents? A gathering of senior mob bosses? No, these were the words of one of the founders of the Federal Reserve system describing a secret meeting at which the final decision to create the Fed was discussed. It took place in 1910 on tiny Jekyll island in the Atlantic Ocean. In keeping with all the rules of conspiracy, the bankers traveled to the island concealing their names and only increased their anonymity upon arrival.


    • Dean Henderson  December 14, 2012 at 2:21 pm

      Nice Blake! Deliberation is a good bunch indeed…

    • blakehamilton  December 15, 2012 at 3:29 am

      Most welcome. I thought that showed just how sinister this whole cabal is and how they have operated for so long.

      Thanks for the great series.

  8. LC  December 14, 2012 at 11:35 am

    Dean Henderson: One more B R A V O

    I’d just like to upgrade your official $14 trillion U.S. debt (above) to over $200 trillion because they have lied to us:
    U.S. Is Bankrupt and We Don’t Even Know It: Laurence Kotlikoff (Boston Professor)

    Pt2 The Military-Industrial-Congressional Complex (Col. Lawrence Wilkerson)

    • Dean Henderson  December 14, 2012 at 12:25 pm

      Thanks again LC! Noted…

    • blakehamilton  December 14, 2012 at 12:34 pm


      The Outstanding Public Debt as of 14 Dec 2012 at 08:33:45 PM GMT is:
      $ 1 6 , 3 7 3 , 9 2 8 , 6 0 0 , 3 1 4 . 5 8

      The estimated population of the United States is 314,051,337
      so each citizen’s share of this debt is $52,137.75.

      The National Debt has continued to increase an average of
      $3.87 billion per day since September 28, 2007!

    • Walking Turtle  December 14, 2012 at 5:11 pm

      “…they have lied to us: U.S. Is Bankrupt…”

      A subtle distinction but a telling one: They lied again (“Oh, but just a little bit…”) when that widely circulated “B” Word was first uttered in the USMSM. (Oh wait wait… The spokesvolken just must all have been just a little English Crippled that day it’s all ok [rolling eyes] oh whatever.) (>not.<)

      From Dict.org, something historical:

      Note: In England, until the year 1861 none but a "trader"
      could be made a bankrupt; a non-trader failing to meet
      his liabilities being an "insolvent". But this
      distinction was abolished by the Bankruptcy Act of
      1861. The laws of 1841 and 1867 of the United States
      relating to bankruptcy applied this designation
      bankrupt to others besides those engaged in trade.
      [1913 Webster]

      As Econ 101 explained it Back Then and common usage still generally indicates today: Bankrupt concerns are obliged by adjudication under Statute Law to pay a percentage of their outstanding aggregate debt to the principal creditors. 2009 seems the year that word was first uttered in the public ear re the United States Corporation's financial affairs… Brief splash and then more Gyrating Spandex® jitterbugged back on stage.

      Insolvent outfits, otoh, simply cannot even start to do that. No More Money Left. Gold and all: ALL gone! Card cancelled; ticket punched. No More Dancing Possible. Party's over. Go Home Now.

      In the Hell called "High Finance", the definitions of certain words do seemingly tend to re-purpose themselves and sorta’ shift laterally over time. Operated by snakes from the start; why should the Industry’s working definitions not slither from time to time?

      FWIW, the current comment’s usage was reinforced from Christopher Story FRSA’s worldreports.org columns… He was Old School. (RIP, Friend Story. You freed a long ton o’ human minds.) Maybe it’s changed again on Funky Funky Wall Street since then; I really dunno’. But to the best of YT’s knowledge, not so, recently, in general usage.

      It was the Chinese Finance Minister iirc who first uttered the “I” Word in keeping with Mr. Story’s usage to the US media… 2010 if memory serves. US Money Wonks all up and down the l33t Feeding Chain might have gagged in private; in public, the Official Silence did just roar. Then more mediatainment gyrations… Bizness as Usual. And that was all. :(

    • LC  December 16, 2012 at 9:59 pm

      & the Lie-Factory operates non-stop:

      The Great Bankruptcy of the United States of America:


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