By Marilyn MacGruder Barnewall – Global Financial Affairs Editor
(NOTE: This is a long article, even for me. But these three things are tied together and it’s impossible to eliminate any more of the facts than I have and tell the story accurately. To readers who need an apology for the article length, you have mine.)
What do illegals from Central and South America and Mexico bring with them when they enter the United States (excluding things like diseases we eradicated long ago)?
Another good question is what do illegals from the Middle East bring with them when they flock across the border with the Mexicans and South and Central Americans? But that’s not what this article is about (and what they bring with them is far more dangerous than a few deadly diseases).
Our neighbors to the South bring an attitude of a people who have been servants to government for many years, an attitude of acceptance towards poverty, an attitude of acceptance towards an oligarchy consisting of a labor class and an elitist class. They are used to tyrants and tyranny and living in poverty. We must ask ourselves if that is the reason both Republicans and Democrats are so determined to shove some form of amnesty for these lawbreakers down our throats whether we like it or not – and most of us do not.
When you add these attitudes to those of Americans who are totally dependent upon some form of government payment each month for survival, it encompasses about half of the voters in America. Without the illegals, 47 percent of the population is government dependent. This includes Social Security and military retirement recipients – and yes, we all worked for those benefits and paid for them. Unfortunately, we also took a vacation when it came to watching what was being done with the money. The result is a majority attitude of “Don’t rock the boat because I’m dependent on government for food and shelter.”
It has been reported by cities receiving busloads of the “children” being shipped into their communities that a majority are not very young. They are often heavily tattooed teenagers with likely connections to gang violence and/or drug cartels. Even more worrisome than the attitude and future impact on voting once both political parties grant amnesty to illegals (they’re playing the “long-term future” card) is the danger to the small children entering America. The danger is hidden in the shadows of a cover-up of child sex trafficking rings in which government officials may be involved.
The Department of Justice’s Child Exploitation and Obscenities unit is of little good. Attorney General Holder has refused to prosecute an Assistant U.S. Attorney caught doing child porn on DOJ computers, for heaven’s sake! We have a national crisis that threatens children’s safety, exposing them to potential child sex trafficking rings and according to numerous sources there is evidence police officers, judges, lawyers, clergy and government employees provide cover for one another.
Virginia’s 10th District Congressman, Frank Wolf, states on his Website that “Human trafficking is a form of modern-day slavery. Not only is it an affront to human dignity, but it is an insidious criminal enterprise. Approximately 800,000 people are trafficked across international borders each year, according to the U.S. State Department. [Emphasis added] This figure does not include the thousands who are trafficked annually within countries, including the United States. While the hidden nature of trafficking makes reliable numbers difficult to come by, we do know traffickers prey on the most vulnerable. Traffickers can make hundreds of thousands of dollars a year selling women and children, according to the Washington, D.C.-based Polaris Project, one of the leading anti-trafficking organizations in the country…” It’s so profitable, in fact, some drug dealers are switching professions. You can find the information at Congressman Wolf’s Website by clicking here.
In Virginia, former Child Protective Service agents have admitted that the agency’s goal is child abduction from the homes of law-abiding parents. These former CPS agents say that state agencies are paid by the federal government for the procurement of each child.
In Colorado, a private investigator found the same problem several years ago. The cost to a Colorado County to take a child into protective services was less than the amount received from the State and Federal governments for children placed in protective service. The investigator said children were taken from homes for no reason, the parent(s) threatened that other children would be removed from the home if they made trouble, and the displaced child would be put in foster care, the County billed the State and Federal Governments for costs incurred and made a profit on the transaction. In other words, removing children from the homes of innocent parents was a business in this particular County. Sometimes the children were taken for adoption into affluent families willing to pay large sums for a beautiful “blonde, blue-eyed infant.”
In my personal view, anyone who can look at a small child and see a sexual being is about as sick as a human being can be. But if we the people have learned anything about State and Federal Governments, it is that they believe anything they do to feed their appetites, whether it be money or sex or fraud (or even worse), is okay. They have immunity (they think). And government is coordinating travel plans for 67,000 children – who along with the aged are the most vulnerable among us – from Central and South America? And we aren’t worried about whether they will disappear into sex rings or drug cartels? The way this invasion by children of America’s southern border is being mismanaged, no one will ever know where a great many of these children will be taken.
Can you imagine how horrible their lives will be? It makes me ill to think of the innocence of children being so casually stolen from them by the worst kind of deviates.
If that isn’t bad enough, there is another sick reason these children were invited here by the current Administration. It was the late 1980s when then President George H.W. Bush uttered the words “New World Order.”
Not long after that, we began hearing rumors about the North American Union – a joining of Canada and Mexico with the United States into a single entity with a common currency. If not for the Internet, that “joining” would have happened, but the Internet got the word out and public opinion defeated that One World Government plan – for the time being. What better way to re-stimulate the North American Union than to add 67,000 Latino children to our population plus all of the relatives that will follow?
In the early 1990s, a great many changes took place in the banking industry. They were negative changes. As I watched commercial banks behave in ways that appeared to be in opposition to their own better interests and those of America, it dawned on me what was happening. When George Bush said “New World Order,” it came together in my head.
1. “New World Order” means world government;
2. Before world government occurs, the lifestyle of the American people must be brought down to a level more in line with the rest of the world (poverty in America equates to middle class by comparison to how the poor live in Europe, and poor nations have standards of living far below that of the poor in the United States;
3. Before world government can happen, the international systems of economics and banking first must be made compatible;
4. Once an international system of banking and economics is in place – the hard job – it is child’s play to implement world government… George Bush’s “New World Order.”
In 2006, I finally had time to write a novel about what I was seeing… I started to write one in 1991 called “Shadow Government,” but was still consulting and traveling a couple of hundred thousand miles a year. The 2006 book was titled “When the Swan’s Neck Breaks” and it was about the Federal Reserve, the Bank of International Settlements (BIS), the International Monetary Fund (IMF), etc. It was a book about spies and clones and greed and power abuse.
Why we have a do nothing Congress when it comes to illegal immigration is pretty clear. Based on what they do rather than what they say, Congress supports the Bush concept of a New World Order – the Rothschild plan to dominate the world via its central bank system.
“They” are telling you the Middle East situation is about oil… to some degree it is. To a larger degree, however, it is about making central banks around the world compatible with Rothschild central banks, especially in the Middle East. It’s what the Arab Spring which began in 2010 is all about; it’s what none of them had and the Rothschilds want them to have: A central bank with firm ties to the IMF that can get each nation so deeply in debt that it will never be able to get out and, since debt equals slavery, residents of the Middle East will be servants to the central banking system. Some of them already are. But the central bank and debt concepts have a more difficult time in the Middle East than they had in America because Islam does not believe in usury and compound interest-based borrowing.
As I realized in 1991, America needs to be brought down to the level of other nations or world government will not succeed. You can’t have a poverty class in America that lives like the elitist class in Africa, Mexico, or some parts of South and Central America (and other nations as well) and have world government succeed. Why? People with lower standards of living than the poor of America will demand more handouts from the world government so their handouts equal that of the poor in America. So, the standard of living in America (even among the poor) must be brought down.
In 1927, Congressman Louis T. McFadden passed legislation to prevent interstate branch banking… The McFadden Act. He saw the criminality of the Federal Reserve System and knew it was dependent upon its ability to cross state lines to solidify its power base. The McFadden Act was modified in 1994 by the Riegle-Neale Interstate Banking and Branching Efficiency Act, which allowed banks to open limited service bank branches across state lines by merging with other banks.
In 1932, Congressman McFadden filed criminal charges against the Fed in the House of Representatives. Those charges can be read here. In addition to being a “vociferous foe of the Federal Reserve” (he said the Fed deliberately caused the Great Depression and that Wall Street bankers funded the Bolshevik Revolution through European central banks), McFadden claimed the Federal Reserve was created and operated by Jewish banking interests “who conspired to economically control the United States.” If one looks at the number of people who hold high-level jobs in the world of banking and also hold dual citizenship in the United States and Israel, it does tend to make one take McFadden’s words more seriously than one might otherwise take them.
In addition to the protections of McFadden, the Glass Steagall Act prevented investment banks – Wall Street stockbrokers – from making loans or taking deposits, and banks couldn’t give investment advice or sell stocks or bonds. After the Great Depression, Congress recognized the natural conflicts of interest that exist between stock brokers and commercial banks and passed Glass Steagall to prevent the two from intermingling. Those laws protected American investors for almost 70 years – but there were plans on the drawing board to change all of that.
These two key pieces of legislation prevented the moral hazard that results when investment banks mix with commercial banks. And the laws kept long-term mortgage lending at savings and loans and out of commercial banks… so, of course, they had to do away with the savings and loans.
We had the Community Reinvestment Act of 1977 (which would play a role in the mortgage-backed derivatives debacle in 2007/08), then the Depository Institutions Deregulation and Monetary Control Act that passed the Congress in 1980 which was the anchor used by Congress to cause savings and loans to fail.
In 1980, when the Monetary Control Act passed, Congress had a choice. Stock brokers wanted to offer deposit accounts. Regulation prevented them from doing so and brokers thought it hurt them competitively. The law was changed to allow brokers/investment banks to offer interest bearing deposit accounts.
The most logical thing for lawmakers to do if their real intent was to benefit consumers was give brokers permission to offer deposit accounts but require them to abide by Regulation Q, just as commercial banks and savings and loans – or, S&Ls – did. Q was a regulation that specified the amount of interest banks and savings and loans had to pay consumers on various deposit accounts so the cost of funds could be kept under control. For many years, the limit was 5 percent on savings at commercial banks (or, 5.25% on long-term savings), and 5.25 percent at savings and loans (or 5.50% on long-term savings). How much do you get on your savings accounts today? You can place the blame for that on the Monetary Control Act.
Why did savings and loans pay better interest rates than commercial banks? Commercial banks are in business to fund businesses and commercial loans are short-term. Mortgage loans last up to 30 years – definitely not short-term. Thus, to get people to put deposits in savings and loans so long-term mortgage loans could be made (this was before fractional-reserve banking, when banks and savings and loans mostly used depositor dollars for loans), savings and loans were allowed to pay higher rates of deposit interest.
When Congress passed the Monetary Control Act in 1980, telling brokers to live with the same rules bankers lived with was the logical thing for Congress to do. They didn’t do that. Instead, they let stock brokers pay any rate of interest they wanted on their money market deposit accounts. At one time, Merrill Lynch was paying 21 percent on its Money Market Account.
What Congress did caused disintermediation – in other words, it pulled all of the money out of banks and savings and loans and into brokerage accounts. It doesn’t take a genius to figure out that if a consumer can get 21 percent interest on a Cash Management Account at Merrill Lynch, and only 5 percent at the bank, consumers will pull their money out of banks put it in brokerage accounts. It seems corporations aren’t the only ones motivated by greed?
Banks and S&Ls then had to ask Congress to eliminate Regulation Q (a planned event, I believe) because it prevented them from paying competitive deposit rates with brokerage firms which were paying 21 percent… more than Q allowed. To get money deposited in banks and S&Ls again, they had to compete with stockbroker money market accounts. They had to pay 15 to 20 percent to depositors, too. Because of the higher cost of funds, bank loan rates jumped to 18 percent for car loans. Mortgages cost 14 percent at S&Ls. Deposit costs were high which meant loan rates were high. People couldn’t afford the loans. Few cars were sold; fewer mortgage loans were written. It caused major economic problems.
Why would Congress do that? Anyone could predict what would happen.
Look where we are today. Do you know any bank that pays customers more than 1 or 1 ½ percent interest on savings deposits? You’re lucky to get ½ of a percent! Mission accomplished for the banksters. They wanted to get rid of Regulation Q so they could legally get deposit rates of interest down to almost nothing. Reg Q required banks to pay 5 percent on regular savings and 5.25 percent on time savings accounts. S&Ls had to pay a quarter-point more than commercial banks. By getting rid of Q, banks decreased their cost of doing business by at least 400 basis points. Over the years, that represents trillions of dollars in profit margin for the too big to jail banksters.
And government’s answer was (something the Federal Reserve badly wanted) fractional-reserve banking. That meant bank loans were no longer funded primarily by customer deposits. Instead, they would be funded by FedRes credit. Until that moment in time, bank growth was dependent upon generating deposits so they had money to loan. This is important because when you are generating new deposits, new jobs are being created within the community. If there are no new jobs, there can’t be new deposits in the bank. Fractional-reserve banking made banks dependent on making loans, not generating deposits, for growth. Job growth ceased as they implemented a debt-driven form of capitalism and prostituted the entire system!
There is no better way to turn a free people into slaves than through debt.
Congress passed legislation that caused us to lose our source of stable mortgage lending. They passed laws allowing the emergence of Fannie Mae and Freddie Mac, which, along with MERS (Mortgage Electronic Registration System — now MERScorp), are the tools used to destroy the value of American real estate. They passed legislation removing the protections of the Glass Steagall Act… allowing brokerage firms to make loans and take deposits, allowing banks to give investment advisory and sell investment products. All of it was specifically designed to get us to precisely this point of about-to-be-economic failure – so we can, as a bankrupt, third world nation, become a proud member of George Bush’s New World Order!
Why are Freddie and Fannie such an important part of the story? Because Wall Street needed to control the number of liar and other sub-prime loans made. To make the money they wanted selling derivatives, they needed volume. To do that, they had to get rid of the S&Ls. They couldn’t control loan policy at thousands of S&Ls. After forcing the S&Ls to fail, they created Freddie and Fannie and gave mortgage lending to these two easily controlled government-sponsored enterprises – and Barney Frank had very close “ties” with Fannie Mae. Freddie and Fannie were early investors in MERS, too. That way, the control of the volume of sub-prime and liar loan mortgages and the credit policies governing them could be solidified. It was a planned takeover but, not just of the United States of America’s financial system. It also gave them control of the most valuable asset of the middle class: real estate. That, all by its self, gave them the power to literally destroy the middle class.
All of the above (and a lot more – this is supposed to be an article, not a book) will help everyone understand the reason the Congress will do nothing about illegal immigration (until we replace the Congress) and how the political powers have been able to manipulate the banking industry into serving as the primary weapon of mass destruction of capitalism.
Welcome to the George H.W. and George W. Bush New World Order. Jimmy Carter (who signed the original Community Reinvestment Act), Bill Clinton (who Amended CRA and put it on steroids) and Barrack Obama (Harry Reid and Nancy Pelosi, too) will also be there to greet you. They all played a major role in the take-down of our country.
Marilyn MacGruder Barnewall began her career in 1956 as a journalist with the Wyoming Eagle in Cheyenne. During her 20 years (plus) as a banker and bank consultant, she wrote extensively for The American Banker, Bank Marketing Magazine, Trust Marketing Magazine, was U.S. Consulting Editor for Private Banker International (London/Dublin), and other major banking industry publications. She has given speeches to bankers worldwide.
She has written seven non-fiction books about banking and taught private banking in Singapore; also at Colorado University for the American Bankers Association. She has authored seven banking books, one dog book, a biography, and two works of fiction (about banking, of course). She has served on numerous Boards in her community.
Barnewall is the former editor of The National Peace Officer Magazine and as a journalist has written guest editorials for the Denver Post, Rocky Mountain News, and Newsweek, among others. On the Internet, she has written for News With Views, World Net Daily, Canada Free Press, Christian Business Daily, Business Reform, the Post & Email, and others.
She has been quoted in Time, Forbes, Wall Street Journal, and other national and international publications. She can be found in Who’s Who in America, Who’s Who of American Women, Who’s Who in Finance and Business, and Who’s Who in the World.
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