December 2008

THE FINANCIAL ELITE: PART II

Dear Friend of Radio Liberty,

"The genius of you Americans is that you never make clear cut stupid moves, only complicated stupid moves which make us wonder at the possibility that there may be something we are missing." Gamal Abdel Nasser, Letter to President Kennedy [1]

"Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. . . . These and other practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets." Eliot Spitzer, Former Governor of New York. [2]

"We find irreconcilable differences between the public pronouncements of leading US policymakers and information published by the very institutions they lead. We consider the two policymakers most involved in the financial crisis: the chairman of the Federal Reserve Bank, Ben Bernanke, and the secretary of the United States Department of the Treasury, Henry Paulson." Celent Report, Executive Summary, December 2008 [3]

"The unemployment rate is the highest it has been in fourteen years. In the last three months, 1.2 million Americans lost their jobs; 533,000 in November, 2008 alone. . . . One in ten mortgage holders is now in default, unable to make payments on their homes." The First Report of the Congressional Oversight Panel for Economic Stabilization, December 10, 2008 [4]

My November 2008 Radio Liberty letter concluded with this statement:

"Henry Paulson and Ben Bernanke aren't trying to stop the financial meltdown because they need a legitimate excuse to transfer the wealth of the American people to the Financial Elite."
The statement is true, but it doesn't address the cause of the current problem, or identify the "Financial Elite" (Brotherhood of Darkness - BOD). Who are they? I believe they are the powerful men who direct the policies of the Trilateral Commission (TC), the Bilderbergers (BB), the Council on Foreign Relations (CFR), and the Group of Thirty (GRP 30). What is their objective? They want to destroy the financial stability of our nation, impoverish the American people, undermine Christianity, and install an authoritarian world government. [5]

Senator Barry Goldwater warned the American people about their (TC) subversive plan in 1979 when he wrote:

"The Trilateral Commission is international. . . . It is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States. . . . What it proposes to substitute is an international economy managed and controlled by international monetary groups through the mechanism of international conglomerate manu- facturing and business enterprise. . . . What the Trilaterals truly intend is the creation of a worldwide economic power superior to the political governments of the nation-states involved. . . . As managers and creators of the system, they will rule the future." [6]

The "next century" has arrived. Will President Obama bring the "change" he promised, or will he pursue the agenda of the Financial Elite (TC-BB-CFR-Grp 30) that controlled the Carter administration, the Reagan administration, the first Bush administration, the Clinton administration, and the present Bush administration? [7] You can answer that question by examining the background of the men and women who will run the government during the next four years. How many of them are members of the Group of 30, the Trilateral Commission (about 120 North American members), the Bilderbergers (about 160 attendees), and the Council on Foreign Relations (about 4000 members).

I have compiled a partial list of the members of President Obama's Cabinet, and his major advisors:

Admiral Dennis C. Blair: Chief of Intelligence
  Current member of the Trilateral Commission.

Hillary Clinton: Secretary of State
  Hillary doesn't belong to any BOD organization, but her husband is a current member of the CFR, and has attended Bilderberger and Trilateral Commission meetings.

Tom Daschel: Secretary of Health and Human Services
  Current member of the CFR.
  Attended the June 5-8, 2008, Bilderberger meeting.

Thomas Donilon: Deputy National Secretary Adviser
 Current member of the Trilateral Commission and the CFR.

Robert Gates: Secretary of Defense
  Current member of the CFR.

Timothy Geithner: Secretary of the Treasury
  President of the Federal Reserve Bank of New York.
  Current member of the Trilateral Commission, CFR, BB, and Group of 30.

General James L. Jones: National Security Adviser
  Current member of the Trilateral Commission.

Janet Napolitano: Head of the Office of Homeland Security
  Current member of the CFR. Peter R. Orszag: Head of the Office of Management and Budget
  Current member of the CFR.

Susan E. Rice: UN Ambassador
  Current member of the Trilateral Commission and CFR.

Eric Shinseki: Head of the Department of Veterans Affairs
  Current member of the CFR.

Lawrence Summers: Chairman: National Economic Council
  Current member of the CFR, BB, and Group of Thirty.

Paul Volker: Special Economic Advisor to the President
  Honorary North American Chairman and former Chairman of the North American Group of the Trilateral Commission.
  Current member of the CFR, attends Bilderberger meetings. [8]

Why is membership in the CFR, the Trilateral Commission, the Bilderbergers, and the Group of 30 important? Because David Rockefeller is the "Honorary Chairman" of the CFR, a permanent member of the Bilderbergers, and he founded the Trilateral Commission. [9] What is David Rockefeller's objective? David Rockefeller described his goal (and the goal of the organizations he controls) on page 405 of his autobiography, Memoirs:

"For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as "internationalists" and of conspiring with others around the world to build a more integrated global political and economic structure - one world, if you will. If that's the charge, I stand guilty, and I am proud of it." [10]

Henry Paulson (CFR), Ben Bernanke, Paul Volker (TC-CFR-BB-Grp 30), Timothy Geithner (TC-CFR-BB-Grp 30), Lawrence Summers (CFR-BB-Grp 30), Tom Daschel (CFR-BB), David Rockefeller (TC-CFR-BB), Henry Kissinger (TC-BB-CFR), and many of the financial leaders of the world attended the Bilderberger meeting that was held in Virginia, June 5-8, 2008. You can obtain a list of the attendees from Radio Liberty or from www.infowars.com [11]

The more things change, the more they remain the same. I believe President Obama will continue the Financial Elite's (Brotherhood of Darkness') subversive effort to destroy the American economy, and establish a world government.

* * * * *

If you carefully analyze the measures that Henry Paulson and Ben Bernanke have taken to curtail the economic crisis, you will probably conclude they are bumbling idiots, but that isn't true. Henry Paulson and Ben Bernanke are very intelligent, but they want the American people to believe they are incompetent.

The current situation reminds me of a letter that President Nasser wrote to President John Kennedy that stated:

"The genius of you Americans is that you never make clear cut stupid moves, only complicated stupid moves which make us wonder at the possibility that there may be something we are missing." [12]

The Financial Elite (BOD) are trying to conceal the true cause of the current economic meltdown. How did they create the sub-prime mortgage crisis? A recent article by Thomas Friedman explains what happened:

"What do you call giving a worker who makes only $14,000 a year a nothing-down and nothing-to-pay-for-two-years mortgage to buy a $750,000 home, and then bundling that mortgage with 100 others into bonds - which Moody's or Standard & Poors rate AAA - and then selling them to banks and pension funds the world over? That is what our financial industry was doing. If that isn't a pyramid scheme, what is?" [13]

In addition, the Financial Elite (BOD) allowed the "Pick-A-Pay" loans that will devastate 2 million homeowners in 2009. A recent New York Times article explains the dangerous program.

"Known as an option ARM - and named "Pick-A-Pay" by World Savings - it is now seen by an array of housing analysts and regulators as the Typhoid Mary of the mortgage industry. Pick-A-Pay allowed homeowners to make monthly mortgage payments that were so small they did not cover their interest charges. That meant the total principal owed would actually grow over time, not shrink as is normally the case. Now held by an estimated two million homeowners, the option adjustable rate mortgage will be at the forefront of a further wave of homeowner distress that could greatly delay or even derail an economic recovery. . . ." [14]

Why didn't the federal government stop the predatory lending practice that precipitated the current economic crisis? High-ranking state officials across America wanted to intervene, but the Bush administration wouldn't let them. Eliot Spitzer described what happened.

His words are reproduced in bold type. My response is printed in italics:

"Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders."

In a subsequent article, Eliot Spitzer revealed the attorney generals of every state wanted to stop the predatory lending practices.

"Some were misrepresenting the terms of loans, making loans without regard to consumers' ability to repay, making loans with deceptive 'teaser' rates that later ballooned astronom- ically, packing loans with undisclosed charges and fees, or even paying illegal kickbacks. These and other practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets."

The state attorney generals recognized the threat to our financial system.

"Even though predatory lending was becoming a national problem, the Bush administration looked the other way and did nothing to protect American homeowners. In fact, the government chose instead to align itself with the banks that were victimizing consumers."

The Bush administration invoked an obscure regulation that blocked the state attorney generals' effort to protect the financial stability of our nation.

"Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government. . . . What did the Bush administration do in response? . . . . The Bush administration embarked . . . on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye." [15]

Since soliciting a prostitute isn't a federal crime, have you ever wondered why the FBI tapped Eliot Spitzer's telephone, and told the press (leaked the story) he was having an affair with a high-paid prostitute? I believe the Bush administration destroyed Eliot Spitzer's reputation because he tried to prevent the current financial meltdown.

Eliot Spitzer's article appeared in The Washington Post on February 14, 2008. Three weeks later, on March 11, 2008, the FBI "leaked" the story that ended Eliot Spitzer's political career. Do you honestly believe that was a coincidence?

* * * * *

I discussed the origin of the current financial meltdown in my November Radio Liberty letter, but there is a great deal of additional information.

1. Edward Gramlich (FED Board of Governors 1997-2005) repeatedly warned Alan Greenspan (TC-CFR-BB) about the danger of the predatory lending practices that led to the financial crisis. [16] Dr. William Poole (FED board of governors) told Alan Greenspan (TC-CFR-BB) Fannie Mae and Freddie Mac were insolvent, but Alan Greenspan ignored them, and promoted the predatory lending practices that precipitated the housing market collapse. [17] During an address on February 23, 2004, Alan Greenspan (TC-CFR-BB) stated:

"American homeowners clearly like the certainty of fixed mortgage payments. This pre- ference is in striking contrast to the situation in some other countries, where adjustable- rate mortgages are far more common and where efforts to introduce American-type fixed-rate mortgages generally have not been successful. . . . American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage . . . the traditional fixed-rate mortgage may be an expensive method of financing a home." [18]

Why did Alan Greenspan (TC-CFR-BB) encourage people to use adjustable-rate mortgages (ARMs) that would balloon in 3 to 5 years? Why did he lower the Fed discount rate to 1%, and create the "housing bubble"? [19] Why did he encourage banks to use derivative contracts (uninsured insurance policies) when Warren Buffett said they were "financial weapons of mass destruction" that could destroy our nation? [20]

2. Shortly after Lehman Brothers filed for Chapter 11 bankruptcy on September 15, 2008, Henry Paulson (CFR-BB) asked Congress to give him $700 billion that was to be used to purchase defective home mortgages.

Congressman Barney Frank (CFR) wrote the Emergency Economic Stabilization Act (the TARP legislation) that gave Henry Paulson (CFR-BB) the $700 billion he requested. The bill stipulated Henry

Paulson (CFR-BB) couldn't be investigated or prosecuted for the way he spent the money, but the legislation didn't include a provision that required Henry Paulson (CFR-BB) to use the funds to purchase defective mortgages. As a result, Henry Paulson (CFR-BB) changed his mind, and lent the TARP money to his friends on Wall Street, and other financial institutions, but Henry Paulson didn't stipulate how the money would be spent. What happened? Bank of America used $7 billion of their TARP funds to purchase an interest in a Chinese bank, and Citigroup used $10 billion to purchase 44 Spanish toll roads. [21] How will those purchases help the U.S. economy? Why didn't Henry Paulson use part of the TARP funds to buy the defaulting home loans that are destroying our economy.

Henry Paulson (CFR-BB) claims he gave the money to the banks because they didn't have sufficient money to lend. Is that true? In an effort to answer that question, I obtained a copy of an independent analysis (The Celent Report) of the statistical information the FED published from Sept - Dec 2008.

Several segments of the Celent Report are reproduced in bold type. My remarks are printed in italics:

"This report compares leading US policymakers' assumptions with available data regarding the credit and lending markets. We find irreconcilable differences between the public pronouncements of leading US policymakers and information published by the very institutions they lead. We consider the two policymakers most involved in the financial crisis: the chairman of the Federal Reserve Bank, Ben Bernanke, and the secretary of the United States Department of the Treasury, Henry Paulson.

While there is no denying that we are mired in a very serious financial crisis, this does not yet appear to have transformed into a general credit crisis. In aggregate, credit and lending markets appear to be functioning well, and in many cases are actually operating at historically high levels."

In several instances commercial and interbank lending increased.

"In repeated areas, the key assumptions about US credit markets being made by these policy- makers are not supported, or are flatly contradicted, by the available data. In most cases, we have relied on data from the Federal Reserve Bank for our analysis."

We are witnessing the greatest transfer of wealth in recorded history. The banks and corporations that are affiliated with the Financial Elite can borrow money, other businesses dependent on credit face bankruptcy.

"It is clear that a number of the key assumptions underpinning the US government and Federal Reserve's recent policies are not supported by a review of the available data. A clear and cogent analysis of the credit crisis has not been presented by policymakers, despite the fact that unprecedented levels of public funds are being deployed." [22]

How did the Financial Elite create the economic crisis?

- Alan Greenspan (CFR-TC-BB) lowered the Fed interest rate to 1% in 2003, kept it there for a year, and created the "housing bubble."
- Alan Greenspan (CFR-TC-BB) encouraged people to purchase homes with adjustable rate mortgages. Several years later, when their monthly mortgage payments increased, many people couldn't afford them, and lost their homes.
- Alan Greenspan (CFR-TC-BB) encouraged banks to use derivative contracts (unfunded insurance policies) to protect their investments. When the derivative contracts failed, they destroyed the financial base of commercial banks throughout the world.
- Henry Paulson (CFR-BB) and Ben Bernanke (BB) lent (or transferred) $2 trillion to financial institutions, but won't tell Bloomberg or Congress where the money went.
- Henry Paulson (CFR-BB) and Ben Bernanke (BB) won't use TARP funds to purchase the defaulting home mortgages that are destroying the financial structure of our nation. In addition, they oppose Sheila Bair's effort (the FDIC program) to purchase defective home mortgages.
- The Small Business Administration (SBA) drastically reduced the number of loans granted to the 24 million small businesses that are the backbone of our economy. As a result, several thousand small businesses and individuals filed for bankruptcy. [23]
- The Bush administration blocked the 50 state attorney generals' effort to stop the predatory lending practices that precipitated the financial meltdown.
- The Bush administration destroyed Eliot Spitzer's political career.
- On October 3, 2008, the day that Congress gave Henry Paulson $700 billion, the FED began paying interest on the funds that banks deposit with them, and increased the FED reserves from $8 billion to almost $ one-half trillion. That decreased the funds that can be lent to the public. The Celent Report noted:

"This action does merit some further explanation from the Federal Reserve. Normally, when a central bank wishes to stimulate greater lending by banks, it encourages banks to reduce reserves, not increase them, since reserve funds are bank funds that would otherwise be available for lending." [24]
The Financial Elite could have prevented the demise of Bear Stearns and Lehman Brothers, but intentionally let them collapse to precipitate the collapse of our financial system. A high ranking oil company executive contacted Lindsey Williams in late May or the first week of June 2008, and told him about the impending financial collapse. Lindsey told me the economy was going to collapse in the early part of July 2008.

There is a great deal more to this story, but it will have to wait until next month.

What can you do? You can pray for revival, and you can divest yourself of U.S. dollar investments because the Financial Elite (CFR-TC-BB-Grp 30) are going to destroy the value of our currency, and impoverish the American people.

On the other hand, many good thing will happen. People will begin to listen to what you have to say. Help them recognize the dark spiritual force that controls our nation, and encourage them to accept the gift of salvation through our Lord and Savior, Jesus Christ. What will the future bring? Only God knows the answer to that question. Our job is to watch for His signs, and listen for His message because:

"I wonder on that Christmas night
How many passers-by:
B,eld that strange and lustrous light
In Bethl,em's patch of sky?
We know how the shepherds chanced to be
Unto the stable sent,
But did that star some rich man see
And wonder what it meant?
I wonder is it still the same?
Are we beyond His reach?
Have we, pursuing wealth and fame,
Grown deaf to gentler speech?
Should such a strange thing come to be
And angel choirs appear
Would only watchful shepherds see
And thoughtful shepherds hear?"
     Edgar A. Guest [25]

Barbara and I appreciate your faithful support, and your commitment to our ministry.

Yours in Christ,

Stanley Monteith




REFERENCES

1. Robert Dreyfuss, Devil's Game, Metropolitan Books, Henry Holt and Company, New York, 2005, p. 120.
2. www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783....
3. The Celent Report: A Critical Examination of US Policymakers, December 2008.
4. The First Report of the Congressional Oversight Panel for Economic Stabilization.
5. Barry Goldwater, With No Apologies, William Morrow and Company, Inc., New York, 1979, pp. 280-285.
6. Ibid.
7. http://en.wikipedia.org/wiki/Trilateral_Commission
8. www.counterpunch.org/simpson12262008.html: See Also, "The New Team," The New York Times, December 20, 2008, p. A12: See Also: Membership List "Brotherhood of Darkness": Available from Radio Liberty.
9. www.cfr.org/about/people/board_of_directors.html
10. David Rockefeller: Memoirs, Random House, New York, 2002, p. 405.
11. www.infowars.com/?p=2564
12. Robert Dreyfuss, op. cit.
13. Thomas L. Friedman, "The Great Unraveling," The New York Times, December 17, 2008, p. A29.
14. Michael Moss et al, "Once Trusted Mortgage Pioneers, Now Pariahs" The New York Times, December 25, 2008, p. A1.
15. www.washingtonpost.com/wp-dyn/content/article/2008/02.... op. cit.
16. www.washingtonpost.com/wp-dyn/content/article/2007/09/05/AR2007090502503....
17. www.foreignpolicy.com/story/cms.php?story_id=4395
18. www.federalreserve.gov/boarddocs/speeches/2004/20040223/
19. http://stefanmikarlsson.blogspot.com/2008/11/cato-institutes-confused-defense-of.html
20. www.whiskeyandgunpowder.com/greenspans-housing-bubble/
21. www.iht.com/bin/printfriendly.php?id=17937909 See Also: www.thenewspaper.com/news/26/2613.asp
22. The Celent Report, op. cit.
23. Raymund Flandez, "SBA Loan Cap Sharply Limits Funds For Women and Minority Owners," The Wall Street Journal, December 9, 2008, p. B1.
24. The Celent Report, op. cit., last page.
25. Summit Ministries, The Journal, December 2008, p.3.


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