source with live video (and better formatting).
David Degraw has written an outstanding comprehensive explanation of what’s really happening in the US economy. He’s given me permission to reprint it here. I also recommend his site “For Our Economy” for citizen grass-roots activism for economic justice.
Regarding the title of Americans starting a new government, I remind readers of the Declaration of Independence; our core American principles of government. The below links document that US political “leadership” is not even close to following our constitutional limitations and therefore are “leading” unlawfully. Americans with an oath to defend the US Constitution against all enemies, foreign and domestic, should choose to either honor their oath or admit allegiance to the current fascist imposter of the greatness this nation is on paper and in our ideals.
Another excellent summary is economist James Galbraith’s recent expert testimony to the US Senate Judiciary Committee of what will become “emperor has no clothes” obvious: the US economy is a rigged casino. Here is my best pitch to explain and document the fraud. Here is my best explanation of the obvious solutions. Here are my comprehensive resources to understand the US oligarchy in all its unlawful infamy in unlawful wars, war lies, torture and indefinite detention (including against Americans), and our controlled economic demolition.
I’ll present David’s documentation and analysis in 13 segments; each with his introduction. Use the “previous” and “next” buttons under the title to navigate to the different segments. Please share broadly with the understanding that all our economic problems really exist on paper only. They are propagandized and managed frauds; solved almost instantly by an economic structure designed for the public good rather than designed for an oligarchy. I stake my professional reputation on the factual reality of these statements and prove their objective existence in the data in the above links.
I appreciate David Degraw’s leadership to research and communicate the facts, and help us all embrace the terrible truth of US fascism that We the People must expose and end in order to unleash humanity and build a brighter future for all of us.
Look and verify for yourself. Res ipsa loquitur.
Is It Time for Law Abiding American Citizens to Stop Paying Their Taxes and Start a New Government? By David DeGraw, AmpedStatus Report
The evidence is now overwhelming. The United States government has facilitated the theft of trillions of dollars of national wealth and 99% of the US population no longer has political representation.
I: The Ongoing Theft of Trillions
II: Off-the-Books, Off-the-Record
III: Osama bin Bank of America
IV: New Mafia World Order
V: The Goldman Sachs Obama Illusion
VI: American Heroes Speak Out on the Financial Reform Ruse
VII: Economic Weapon of Mass Destruction (WMDs)
VIII: Hank “Pentagon Sachs” Paulson
IX: $5.4 Trillion a Year Bullion Market Ponzi Scheme
X: Ponzi Nation: Welcome to America, Sucker
XI: Economic Shock and Awe
XII: Time for a Second American Revolution - The 99% Movement
XIII: How You Can Get Involved
Now that I have your attention, I want to make it clear to you that I am being rational and serious when I ask this question: Is it time for law abiding American citizens to stop paying their taxes and start a new government? Before you roll your eyes and dismiss me as some “extremist,” let me explain the situation to those who are unfamiliar with my past reports. In my report on the Economic Elite Vs. The People of the United States, I lay out the case proving that our economy and tax system has become an organized criminal operation. I defy anyone who spends time researching and analyzing the facts and overwhelming evidence to support this claim to prove otherwise. I invite anyone who thinks I’m wrong to a debate on national television. I’m talking to you, Tim Geithner, Ben Bernanke, Larry Summers, Lloyd Blankfein, Jamie Dimon and President Obama! I torturously spend 60 plus hours a week researching this and the torrent of devastating news and evidence is mounting by the minute. The staggering level of theft continues unabated. As I am watching this unfold, I am horrified thinking about the severe consequences that have only just begun to reap their toll. Our nation is being raped and pillaged. Our future is going up in flames and our government isn’t even making the slightest effort to put out the fire. In fact, they are purposely pouring gasoline all over it.
“There’s a time when the operation of the machine becomes so odious—makes you so sick at heart—that you can’t take part. You can’t even passively take part. And you’ve got to put your bodies upon the gears and upon the wheels, upon the levers, upon all the apparatus, and you’ve got to make it stop. And you’ve got to indicate to the people who run it, to the people who own it that… the machine will be prevented from working at all.” – Mario Savio
So let me take a deep breath and back up for a minute… and explain the urgent gravity of our current crisis.
II: Off-the-Books, Off-the-Record
Did you happen to catch the underreported news about the Lehman Brothers’ bankruptcy? Turns out that Lehman Brothers’ was playing Enron-style accounting games and hid BILLIONS of dollars of debt using a “gimmick” called “repo 105″ to keep losses off their balance sheet. If you haven’t read the 2000 page report yet, you might want to, because the Lehman Brothers scandal is not an isolated incident by any means. It is a revealing look into “standard” and “routine” accounting practices used by all the large politically-connected Wall Street firms. It is standard operating procedure in this organized criminal enterprise that poses as free enterprise - a rigged market that pretends to be a free market. The theory that people didn’t know about Lehman’s accounting scam is, to put it kindly, not based in reality. Financial reporter Max Keiser revealed Wall Street’s accounting scams, back in July of 2008, in a report titled, “Peek-A-Boo Accounting and the Crash of Financial Stocks on Wall Street.” Here’s how Max put it almost two years ago: “Since it was discovered that Enron was hiding debt off their balance sheet to make their earnings, stock and stock options go up, Wall Street has decided they can’t get enough of this neat trick and every quarter we see more of it. It’s peek-a-boo accounting where debts are removed from the balance sheet during the period when disclosure is needed (for quarterly earnings reports) and the debt is temporarily parked back onto the company’s balance sheet, or parked on another bank’s balance sheet with an implied reciprocal agreement. (Enron had hundreds of shell companies that served as ‘debt parking lots’ to avoid having to include any liabilities on their quarterly earnings statement). Lehman Brothers looks like they are trying to out-Enron Enron in the peek-a-boo accounting department.” Eliot Spitzer, once known as the Sheriff of Wall Street, and white-collar crime expert William Black released a report calling the accounting tricks on Wall Street a three card Monte scam for suckers. While calling for an “immediate Congressional investigation,” they explained: “Our investigations have shown for years that accounting is the ‘weapon of choice’ for financial deception…. As our December co-author Frank Partnoy recently explained as part of a major report of the Roosevelt Institute, ‘Make Markets Be Markets’, such abusive off-balance accounting was and is endemic. It was a major cause of the financial crisis, and it will lead to future crises…. The Valukas report also exposes the dysfunctional relationship between the country’s main regulatory bodies and the systemically dangerous institutions (SDIs) they are supposed to be policing. The NY Fed, the regulatory agency led by then FRBNY President Geithner, has a clear statutory mission to promote the safety and soundness of the banking system and compliance with the law. Yet it stood by while Lehman deceived the public through a scheme that FRBNY officials likened to a ‘three card monte routine’.… The FRBNY remained willing to lend to an institution with misleading accounting and neither remedied the accounting nor notified other regulators who may have had the opportunity to do so. The Fed wanted to maintain a fiction that toxic mortgage products were simply misunderstood assets, so it allowed Lehman to maintain the false pretense of its accounting.” Here’s another highly important fact that has been left out of media reports concerning Lehman’s scam: The Federal Reserve not only hid the information on the massive scam, they most likely taught these companies how to do it! A very important piece of this puzzle was revealed to me in a discussion I had with Larry Park, the founder of The Foundation for the Advancement of Monetary Education (FAME). Former Federal Reserve Chairman Paul Volcker wrote a book called “Changing Fortunes” back in 1993. In the book, Volcker talks about inventing this same scam by manipulating the Bank of Mexico’s books: “… it was a matter of buying time. In an effort to hold things together psychologically, we agreed with considerable unease to extend overnight swap credits once or twice to the Bank of Mexico to bolster the month end figures for their dollar reserves. We would transfer the money each month on the day before the reserves were added up, and take it back the next day. Our unease did not arise from any fear of financial loss, but because the ‘window dressing’ disguised the full extent of the pressures on Mexico from the bank lenders and from the Mexicans themselves.” So there you have it, another devil child spawn from the Federal Reserve… “peek-a-boo” voodoo accounting. By the way, Bank of (Zero Taxes) America also used “peek-a-boo” voodoo to hide debt. So to sum this up in plain English, the government looks the other way as they illegally hide massive debt and then doesn’t even bother collecting any taxes from them. Did you get that, people? Just burn your mortgage and credit card bills, get one of your close friends (Ernst and Young) to say the debt on them doesn’t exist and then you won’t have to pay off any of your debt or have to pay any taxes. In fact, just incorporate yourself and tell the government to give you a couple billion in tax dollars. It works for the thieves on Wall Street! Before moving on, I must also mention that Bank of (Zero Taxes) America has been caught robbing people and committing fraud repeatedly, as Gary Null revealed, they have spent “$14.9 billion to settle 15 [court] cases.” Which is just part of the “over $430 billion [that] has been paid to parties by Wall Street firms in over 1500 cases.”