Steven Collins
June 21, 2008
I noticed a very small item in the June 20, 2008 issue of the USA Today on p.1B. It was a one-paragraph story entitled “Paulson advocates more power for the Fed.” The story reported that US Treasury Secretary Henry Paulson urged that “the government must quickly give the Federal Reserve more power to regulate the financial system” (emphasis added). Why would he urge that the Fed “quickly” be given such new powers? Apparently, he anticipates that a new financial crisis is about to strike the American and world monetary system. Given the profligate spending by all levels of governments, corporations and individuals as well as the teetering mountain of mega-trillions of dollars in derivatives and counter-party risks which overhang all financial markets, his concerns are surely valid.
The first link below gives an insight into the next financial crisis to strike world markets. It cites an unusually-blunt warning by the Royal Bank of Scotland about “a full-fledged crash in global stock and credit markets over the next three months.” It also advises that “a very nasty period is soon to be upon us,” and that “the (US) Fed is in panic mode.” Contrary to the soothing statements that the general public is being given in most mass media stories, the insiders know another major crisis is brewing in the world’s financial system
Revelation 18 prophesied that at the end of our age a global political/economic trading system would come into existence. Since it is a global trading system, it has to involve world currencies. It is called “Babylon the Great” because this age-ending global economic system will be based on the banking/money-lending system invented in ancient Babylon. This prophecy has come to pass as the western world’s global system of world commerce is based on the banking system of Babylon which has “grown great” as it spread all over the earth. Those wishing to learn more about the Babylonian origins of all banking system and its ability to conquer people and nations via debt are invited to read my article entitled “What Kind of Captivity?” available for free at this website.
The precise fulfillment of this biblical prophecy confirms both the Divine authorship of biblical prophecies and that we are living in the end of an age. Revelation 18 also foretells this great global economic system will collapse at the end of our age. Could the “panic” at the Fed and the strident warning from the Royal Bank of Scotland indicate this collapse is drawing near? It is possible, but I will make no specific predictions. The fractional reserve banking system is essentially a “house of cards” built on consumer/depositor confidence and the outlandishly large derivatives market is another “house of cards” build on top of the banking system’s initial “house of cards.” Only desperate measures (not used since the Great Depression) by the Federal Reserve Board kept these houses of cards from toppling a few months ago when Bear-Stearns collapsed and was absorbed into another entity to keep “counter party risk” manageable.
Let’s consider more deeply Sec. Paulson’s urging that the US Fed be “quickly” given more powers over the US economy. The fact that he “quickly” wants the Fed to have such powers argues that the Royal Bank of Scotland’s warning may be right. However, the ramifications of giving even broader powers to the Federal Reserve Power run far deeper. To examine these ramifications, we need some brief comments about the Fed itself.
The US Federal Reserve Board was created by Congress during the presidency of Woodrow Wilson. Contrary to most American’s assumptions, the Fed is not a government agency and it is not a part of the US government. It is a private bank with a charter to manage the banking system and to create money out of thin air so it could be lent to the US government and others. The second link below contains a discussion with an official of the Public Information Department of the San Francisco Federal Reserve Bank. His acknowledgements will be of considerable interest to those who falsely assume the Fed is a government agency. I would also refer readers to the documentation toward the end of this link that the US government is forbidden to own any stock in the Federal Reserve Board. It relates that the original private stockholders in the US Federal Reserve Bank were “the Rockefellers, J.P. Morgan, Rothschilds, Lazard Freres, Schoelkopf, Kunh.Loeb, Warburgs, Lehman Brothers and Goldman Sachs.” The “Federal” Reserve Board is not a part of the Federal Government; it is a private bank with a “federal”‘ charter. Those wishing to investigate this subject further can do a websearch by typing in “Federal Reserve Board is a private bank” as the key words. You can read all kinds of items ranging from scholarly ones to “conspiracy theory” links. While it is true that the Chairman of the Federal Reserve Board and a handful of the Board of Governors are appointed by the president and confirmed by Congress, the majority of the regional directors of the Federal Reserve System are selected behind closed doors by the banking industry, not the US Congress.
If my memory serves correctly, US Treasury Secretary Paulson is a former top executive with Goldman-Sachs, one of the founding entities which owned stock in the Federal Reserve Bank. He is now urging Congress to “quickly” give more authority to the Federal Reserve Bank. I wonder how much stock Goldman Sachs still owns in the Federal Reserve Bank? Do you smell a conflict of interest here?
What no news media story will tell you is that in order for the Federal Reserve Bank to gain more authority and control over the US economy, the US Congress and federal government must surrender more economic sovereignty to the private Federal Reserve Bank. If authority over the US economy is surrendered by Congress to the private bank known as the US Federal Reserve Board, the United States of America will essentially be placed into a form of economic receivership in which American financial institutions will be transformed to serve the interests of the international money-lenders as they impose a form of economic serfdom upon America’s profligate debtors and spenders (both public and private). With the “private banks in charge of regulating themselves” via the Fed, the foxes will truly be placed in charge of the chicken coops. If this happens, the US Congress will take a giant step toward making itself as irrelevant as the Roman Senate was in the days of the imperial Caesars. This should not be surprising. Proverbs 22:7 states an inexorable financial law that “the borrower is servant to the lender.” American governments, corporations and individuals who have borrowed far beyond their means can expect to be placed into a form of economic servitude to the moneylenders of the world. Foolish American borrowers and spenders will have brought economic servitude upon themselves by their own stupid refusal to live within their financial means. Galatians 6:7 warns that “God is not mocked.” American governments and consumers have “mocked” God’s financial law in Proverbs 22:7 for decades, and they may be about to “reap” the servitude for which they have “sowed” for so long.
Also, with more of the US economy controlled by the private money-lenders, it will be far easier to (A) submerge the USA into a North American Union with a new currency to replace the US dollar and (B) impose a new economic system on the entire global monetary/economic markets. Revelation 13:16-17 says such a global economic system will briefly come into existence at the end of this age before the unexpected return of Jesus Christ brings, quite literally, God’s Divine government to the earth.