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The Extortionist Bailout and the Fed
Letter from Dean Hazel,
American Federation of Whiggs[1]

Reposted by permission, CC

My fellow Whiggs and Concerned Citizens:

To me this national bailout, when jail should be used until prison space and gallows can be readied, is beginning to look like a lot like the one-two punch that was used to pass off the Federal Reserve Act as a bank regulatory act, when in fact it prohibits the governments from regulating all of the Federal Reserve and all of its members. 

The national bank act of the early 1900s, was clearly titled as a bank act that would pretty much let the banks do what they wanted.  It did not sell and was defeated in the Congress.  However, it was dusted off, retitled the Federal Reserve Act and then sold as a bank regulatory act when it was just the opposite for the club members of its cartel. 

Just for show, the big banking interests made an open and convincing pretense of opposing its passage.  The sucker play worked and an all too willing Congress passed it and got away with it because the people believed the banks did not want it!  During the Senate Bailout, we saw what was supposed to be a better bill than the first bailout that had been proposed and failed to pass.  Deja vu!  The bill, now grown to 400 pages in size, larger than the failed first attempt passed with a few bones thrown in just for PR!

12 USC 412 of the Federal Reserve Act provided for the bailout of bad investments through the Federal Reserve Banks and their member banks.  You will see that if you take the time to read it and all of the sections that are named in it and related to it, including the bailout of foreign banks and other investors. 

That act alone, really set the stage for WWI and WWII and everything since in my humble opinion.  The men who raped and defrauded America, and sold their ill-gotten booty to foreign investors are now straining under the load of carrying their mega profits to banks safer than US Banks.  It is fine to own one [a US bank], but don't get caught with your own money in one like the suckers that got stuck with the bailout. 

Without the prosecution of these rascals, and the bailout of the American financiers, the foreign investors would have nothing else to do but dump worthless US currency and treasury bonds on the open market.  That would create a climate of hardship that the American and international financiers would make a killing in.  Preying upon the misfortunes of Americans who continually fail to hold their congresses and the real culprits responsible for the Monetary Fraud that has been spawned under the cover of one national financial crisis after another. 

But I am sure that it will stop!  When the Federal Mob, through their manipulative monetary fraud practices, owns everything, and your children's children will be homeless in the land of their fathers!  Those who forget the lessons of history, are bound to repeat them for sure!

Actually the foundations of our late 20th-century false prosperity has always been built upon the sands of the illegal bank float created by the abuse of 12 USC 411.  12 USC 411 prohibits Federal Reserve Notes from being put into public circulation. 

A member bank of the Federal Reserve Banking Cartel may circulate its own notes or real money, using the internal notes of the Federal Reserve Banking Cartel for security as they were only intended to be, but is prohibited from actually circulating Federal Reserve Notes as currency or money (by loose definition) outside of the Federal Reserve Bank and its member banks, as either public credit or currency because of the prohibition and limitation set forth in 12 USC 411.

For some reason people seem to miss the importance of the first sentence of 12 USC 411.  Federal Reserve notes are not to be in general or public circulation:

12 USC Sec. 411 01/03/2007-EXPCITE- TITLE 12 - BANKS AND BANKING CHAPTER 3 - FEDERAL RESERVE SYSTEM SUBCHAPTER XII - FEDERAL RESERVE NOTES-HEAD- Sec. 411. Issuance to reserve banks; nature of obligation; redemption-STATUTE- Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank.

This is still the law today!  Somebody in about 1933 or before, began dumping Federal Reserve Notes into public circulation by making advances to the public through the commercial and retail customers of the member banks!  That is US ladies and gentlemen! 

A demand for injunctive relief in a general order or writ of mandamus would be the best remedy and should be tried at all costs, though that most likely will not fly past the Federal Mobsters controlling our courts!  Nor can we expect any help coming from the tax, tax, tax, spend, spend, spend politics and stupid lame slogans of the "Lamebrains McCain & Obama!"  They both supported the bailout!

The stock market only reflects the financial health of investors who get stuck holding what they may wish they had not bought in the first place.  The businesses that make this country run, run irrespective of the loss to investors in our stock market.  Investors are not needed for the day to day business operation of producers and consumers.  Even GM, Chrysler, and Ford Motor companies only need investors to expand their businesses, not to maintain them unless mismanagement is an issue. 

The Rich own nothing but stock and/or control of the corporations that they have created to avoid paying taxes!  They are only rich in their ability to pass those taxes that they are not exempt from on to the corporate customers in the cost of their production.  You buy their product, you pay their tax!  The taxes on the rich are just added to our cost of living when we do business with their corporations.  The Democrats of the Democratic/Republican Regime, whose symbol is a jackass, just don't seem to get this fact and neither does the amnesic elephant!  Perhaps they both truly are just too stupid or mean to care?  We cannot tax the so-called rich without indirectly taxing ourselves!

I cannot afford yet another increase in the cost of living, can you?  It is time to do what I have been saying for more than a quarter of a century, "Ask not what your country can do for you, but what you can do for yourselves!"  What I mean here is that it is never beyond the time to cut a government that is taxing US to death down to the essential size and services that had made this country rich and great. 

The only service that is needed from a government of a truly free people, is a government, which in providing for the common trade and defense, shall only restrain men from actually injuring one another, but shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned.  Have you see the price of bread these days?

When I was but twelve years old, Walter Reuther was quoted as saying, "Some day the average factory worker will be making over twenty dollars an hour!"  To that I said at the time, "and bread will cost over two dollars a loaf!"  What is the cost of bread these days? 

Such common sense that is uncommon among the Democrats and Republicans is sorely needed today.  If you want to actually do something about it besides just talk, give me a call.  Let's organize a solution, real constitutional one!  We need a few good men to get things going on the right track.  Let's get the Federal Mob that is clamoring for more tax dollars under control!  They don't need the money.  They just need common sense!

The real problem is that the foreign investors in this bailout and the Fannie Mae fiasco are holding both Treasury bonds and credits for millions if not billions of Federal Reserve Notes that have yet to be printed!  If they were not accommodated by these recent acts of our corrupt Congress, the effect of those credits being dumped on the market and discounted, would make the 1929 Black Friday look like a lark! 

Most of the remarks and writings that I have read about the bailout are very superficial and make no mention as to why every person in the Congress felt compelled with few exceptions to do what had to be done to put off a calamity that should have been and could have been dealt with decades ago!  There is some ignorance in our Congress, but for the most part, I believe that there is a deep desire, in a majority of the Congress, to burden US so that accountability and a real reckoning does not come on their watch, during their terms of partying for public office. 

Dean S. Hazel

Editor's note: The follow postscript is frequently used by Mr. Hazel to refer to what he sees as the "metaphysics" behind our current moral and political drama.  It is a worldview I largely share, and for which I've even developed my own concept and term: the Kleptocons.

PS:  The shell game works!  Fools are suckers for it!  Smoke and mirrors will be used again and again to manipulate the Asses that make up the mAsses until there will be nothing left to rob them of... but their very lives!  And I believe that will happen too in the twinkling of an eye when the time comes, thanks to modern technology.  Life is just a box of chocolates, and stupid is what stupid does!  Only a real intelligence, through a real education can threaten the intended outcome of the Federal Mob!  Quitting aids and abets. 

Conspiracy? Treason? Robbery?

Zeitgeist " The Movie" Introduction
Zeitgeist " The Movie" III The Federal Reserve Part 1-5
Zeitgeist " The Movie" III The Federal Reserve Part 2-5
Zeitgeist " The Movie" III The Federal Reserve Part 3-5
Zeitgeist " The Movie" III The Federal Reserve Part 4-5
Zeitgeist " The Movie" III The Federal Reserve Part 5-5

Link to the Norman Dodd Interview:

[1] They may be reached via  For a short description of what constitutes a Whigg, here is a link to a paper written by Mr. Hazel, which explains the idea quite well.


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