Archive for the Steve Watson Category

EXCLUSIVE: Uncovered 9/11 Footage Shows FBI Director Asking Firefighters About “Secondary Hits” On WTC

Posted in "Terrorism", 9/11, Alex Jones, Attack on Freedom, Attack on the Republic, False Flag Terror, General, New World Order, News, PrisonPlanet.tv, Steve Watson, Stupid Government Tricks, the 9/11 Files, Tyranny with tags , , , , , , , , on October 27, 2010 by truthwillrise

Amazing video also shows city officials hurriedly leaving after South Tower collapse

Steve Watson
Infowars.com
Wednesday, Oct 27th, 2010

An intriguing video has appeared on You Tube that appears to show a FDNY film crew being interviewed in the aftermath of the 9/11 attacks by the the director of the FBI’s New York office, who has suspicions that one of the World Trade Center towers took a “secondary hit” before collapsing.

The video appears to be part of NIST’s recent FOIA releases and therefore has not been seen before now.

On first viewing it appears to be nothing special, just the horribly familiar scenes of dust and rubble from the aftermath of the attacks. However, it contains a stunning exchange between officials and firefighters.

The action appears to be taking place immediately after the collapse of the South tower and before the collapse of the North tower.

The film crew exits a building and make their way along the dust and debris littered streets.

At around 2 mins 50, a man in a suit approaches the crew and announces himself as “FBI, Barry Mawn.”

Mawn (pictured below with Rudy Giuliani) was at that time the director of the FBI’s New York office.

Mawn then asks the FDNY crew a question in the form of a statement – “That tower got a secondary hit?”

The firefighters respond by saying they are unsure but they heard a rumbling and ran for their lives as the tower then collapsed.

The audio is difficult to hear but one of the firefighters then says he “saw it blow right out the side of the building” to which Mawn asks “that was the plane right?”.

The firefighter then states “I don’t know if it was a plane or an explosion.”

As they continue their description of events the noise of a jet overhead interrupts them as people begin to panic. Someone, presumably another FBI agent shouts “is that ours?” to which Mawn replies “yeah that should be ours”.

At this point a large gathering of suited individuals walks into view and a woman in the group yells “go to city hall.”

Mawn then asks “where is the mayor?”, from which it can be deduced that this group is affiliated with Rudy Giuliani and they are hurriedly leaving the scene.

The woman leading the mayor’s group then curses at reporters telling them to “get the f*** out of here”.

One commenter has speculated that the reporters are with Pat Dawson, the first NBC News correspondent to report from the scene of the attacks at the World Trade Center.

Watch the video:

We have previously covered the fact that Giuliani and his group were warned that the South tower was about to collapse, before it happened. This video of them leaving the scene just after the collapse of the South tower dovetails directly with that information – another huge finding to emerge from the NIST video releases.

The video is a fascinating piece of evidence to be added to the hundreds of other accounts and descriptions of secondary explosions in and around the WTC on 9/11. This clearly indicates that the FBI believed that a secondary attack, aside from the use of air planes was under way.

Indeed, this backs up previous evidence that the FBI’s initial working premise was that trucks packed with explosives aided the collapse of the twin towers. This fact was reported by USA today journalist Jack Kelly:

The details were also covered by MSNBC’s Rick Sanchez, who also reported that officials strongly believed a van packed with explosives parked underneath the towers had contributed to their collapse.

Barry Mawn has other intriguing connections to the events of 9/11. He was a close friend and associate of John O’ Neil, the former deputy director for the FBI who quit his job out of frustration that his investigations into Al Qaeda terrorist plots were being blocked. O’Neil became head of security for the World Trade Center on September 11th 2001. His body was discovered in the rubble after the attacks after he had helped people escape the towers before they collapsed.

Mawn was also the individual who explained to the media how police and the FBI found the passport of one of the alleged hijackers, Satam Al Suqami, in the rubble during a “grid search” of the area close to the World Trade Center.

Mawn was later involved in the investigation of the Anthrax attacks, which he initially believed originated from US military sources. Mawn resigned from the FBI in March 2002 following the break down of this investigation.

The information revealed in this short piece of footage once again goes to show that there is still masses of evidence regarding the 9/11 attack that we are yet to discover. It should encourage 9/11 researchers to continue to dig deeper and demand a new independent investigation.

Related Reading:

CBS Report On 9/11: Ground Level Explosion Caused WTC To Collapse

New 9/11 Footage Reveals WTC 7 Explosions

Video: 9/11 Firefighters Reveal Huge Explosions Before Towers Collapsed

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Ten Stories In The News That The BP Oil Spill Is Overshadowing

Posted in Alex Jones, Attack on Freedom, Economy, New World Order, News, Paul Watson, Steve Watson, Stupid Government Tricks with tags , , , , , , , , on June 18, 2010 by truthwillrise

Prisonplanet.com
Friday, Jun 18th, 2010

The mainstream media is running a 24 hour news cycle focusing purely on the BP oil spill, a disaster, as we have shown, that is being intentionally hyped in order to sell cap and trade legislation and moves to nationalize big business.

In the wake of this, big important news stories are being overlooked. Here are just some of the stories, in no particular order, that you should be hearing on the nightly news, but of course, are not.

1. Israeli nuclear submarines positioned close to Iran:

Three German-built Israeli submarines equipped with nuclear cruise missiles are to be deployed in the Gulf near the Iranian coastline.

The first has been sent in response to Israeli fears that ballistic missiles developed by Iran, Syria and Hezbollah, a political and military organisation in Lebanon, could hit sites in Israel, including air bases and missile launchers.

The submarines of Flotilla 7 — Dolphin, Tekuma and Leviathan — have visited the Gulf before. But the decision has now been taken to ensure a permanent presence of at least one of the vessels.

**

2. Iran war propaganda:

US intelligence has shown Iran could launch an attack against Europe with “scores or hundreds” of missiles, prompting major changes to US missile defenses, Pentagon chief Robert Gates said on Thursday.

The anti-Iran rhetoric has amplified following the revelation that many Bilderberg members, including Zbigniew Brzezinski, are now in favor of U.S. air strikes on Iran and are “leaning towards war,”.

“Some of them in Europe are saying no we shouldn’t do it but most of them are in favor of American air strikes on Iran,” Bilderberg sluth Jim Tucker relayed from the recent meeting in Spain. “They’re tilting heavily towards green lighting a U.S. attack on Iran.”

**

3. The continuing economic slide:

The greatest bankster heist in history and the looming greatest depression rumbles on.

Gold has hit record highs as the dollar slumps and the Euro continues to face complete collapse. Unemployment figures in the U.S. are through the roof and U.S. consumer prices posted their largest fall in nearly 1-1/2 years in May.

Rumours in Europe persist regarding an impending bailout for spain, while Russia says it is ready to found a “new economic world order“.

**

4. FCC ready to restrict the Internet:

The federal government would have “absolute power” to shut down the Internet under the terms of a new US Senate bill being pushed by Joe Lieberman, legislation which would hand President Obama a figurative “kill switch” to seize control of the world wide web in response to a Homeland Security directive.

Lieberman has been pushing for government regulation of the Internet for years under the guise of cybersecurity, but this new bill goes even further in handing emergency powers over to the feds which could be used to silence free speech under the pretext of a national emergency.

5. Obama/Blagojevich story

As the Blagojevich trial continues and important details emerge, linking Obama to possible political corruption, Federal prosecutors are seeking a gag order to keep the ex-Governor and his lawyers from making public comments.

**

6. UN small arms treaty

Secretary of State Hillary Clinton recently announced that the Obama Administration would be working hand in glove with the U.N. to pass a new “Small Arms Treaty.”
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Congressman Paul Broun warns that, “With willing one-world accomplices in Washington, D.C., gun-grabbers around the globe believe they have it made.” Broun characterizes the U.N.’s Small Arms Treaty as “nothing more than a massive, GLOBAL gun control scheme.”

The treaty would force national governments to acquiesce to a global gun registry, while strengthening licensing procedures so as to make it almost impossible for a citizen to legally purchase a gun. It would also ban the private sale of semi-automatic weapons and ultimately lead to the confiscation and destruction of all “unauthorized” firearms owned by citizens.

By encapsulating the gun grab within a treaty, the Obama administration could claim that no Senate approval is needed to authorize any such move against the right to bear arms – although whether a treaty trumps the Constitution is a very murky area of debate.

**

7. Mexicans riot in LA/Land given over to Mexico

Violent scenes following the LA Lakers’ championship-clinching win over the Boston Celtics in the NBA finals saw angry mobs smashing their way through the streets waving Mexican flags as they went.

Meanwhile, a massive stretch of Arizona has become effectively off limits to Americans, Prompting questions over whether the Obama administration is giving a major strip of the south-west back to Mexico.

**

8. Obama Plans To Sneak Through Carbon Tax By Stealth

President Obama is planning to sneak through his job-killing, economy wrecking carbon tax by stealth according to the Washington Post, by passing a weakened bill and then adding in cap and trade provisions after the heat is off following the November elections.

Described as the “lame duck climate strategy,” Obama is planning to secure enough votes in the Senate to pass a weakened energy bill and then drag out the conference long enough to ensure the stronger provisions contained in the original House version are added “after lawmakers have faced voters in November, thereby cushioning the vote’s political impact.”

**

9. Afghanistan Mineral Riches Story Is War Propaganda

News that the U.S. has suddenly discovered $1 trillion-worth of mineral deposits in Afghanistan, and descriptions of the bounty as a “game changer” by the corporate media, represent nothing more than crude war propaganda designed to reinvigorate public support for a failing and ever more pointless occupation.

The “newly discovered” riches have been known about since the 1970s and further revelations indicate that the Pentagon report cited by the New York Times as their source for the story did not even mention the untapped mineral deposits in Afghanistan.

**

10. Free Speech Gag Bill Moving in House

H.R. 5175, The so-called DISCLOSE Act would severely limit the ability of political groups to communicate to their members and the general public.

Politico reports that , the NRA bargained for an exemption for itself and other large, established groups while trampling the rights of private citizens, new political groups, like Ron Paul’s Campaign for Liberty, and other small organizations.

As John Bresnahan reports, “The proposal would exempt organizations that have more than 1 million members, have been in existence for more than 10 years, have members in all 50 states and raise 15 percent or less of their funds from corporations… The NRA, with 4 million members, will not actively oppose the DISCLOSE Act, according to Democratic sources.”

Eugenicist Bill Gates To Attend 2010 Bilderberg Conference

Posted in Attack on Freedom, General, International Bankers, New World Order, News, Paul Watson, Poison Foods and Products, Secret Societies, Shadow Government, Steve Watson, Tyranny, Unconstitutional with tags , , , , , , , , , , , on June 4, 2010 by truthwillrise

Paul Joseph Watson & Steve Watson
Prison Planet.com
Friday, June 4, 2010

Eugenicist Bill Gates To Attend 2010 Bilderberg Conference 040610top2

Microsoft founder Bill Gates will join fellow elitists for the first time at the 2010 Bilderberg conference currently taking place in Sitges Spain, after he apparently attempted to pull a bait and switch by pretending to attend another event before being forced to admit to journalists that he will give a speech at the globalist confab.

Gates let slip that he would make his debut at Bilderberg after being asked by journalists from 20 Minutos, a free Spanish newspaper which is published daily in numerous Spanish cities as well as others around the world.

According to the report, Gates told reporters, “I’m one of those who will be present,” adding that he will take part in a debate with fellow globalists on the subjects of “energy and the needs of the poorest,” as well as climate change, renewable energy and the economic crisis.

Indicating that he will also give a speech to the Bilderberg elitists, Gates said, “I hope not to bore.”

It appears as though Gates initially tried to throw reporters off the scent by claiming he was in Barcelona to attend a Global Health Institute conference which was then mysteriously “cancelled”.

The translation of the Spanish report can be read here.

Gates’ presence at the elite confab was also confirmed by the German news agency DPA.

The Spanish report also confirms that Spain’s Prime Minister José Luis Rodríguez Zapatero will attend the conference this afternoon, where he will be joined by Queen Beatrix of Holland, ECB Chairman Jean Claude Trichet as well as former U.S. Defense Secretary Donald Rumsfeld.

Rumsfeld has sporadically attended Bilderberg meetings in the past but he is not a regular visitor to the annual gatherings. For Gates, this is his first time at the conference although his wife Melinda is a regular attendee.

Both Gates and Rumsfeld’s presence at this year’s event indicates that some very important developments are set to unfold over the course of the next 12 months, particularly with regard to Iran as well as the global warming agenda, which has been on the ropes since the Climategate scandal and the failed Copenhagen summit in December.

Gates’ Bilderberg presentation will also likely include information about his eugenicist projects to lower global population figures.

During a recent TED conference, an organization which is sponsored by one of the largest toxic waste polluters on the planet, Gates told the audience that vaccines need to be used to reduce world population figures in order to solve global warming and lower CO2 emissions to almost zero.

Stating that the global population was heading towards 9 billion, Gates said, “If we do a really great job on new vaccines, health care, reproductive health services (abortion), we could lower that by perhaps 10 or 15 per cent.”

Quite how an improvement in health care and vaccines that supposedly save lives would lead to a lowering in global population is an oxymoron, unless Gates is referring to vaccines that sterilize people, which is precisely the same method advocated in White House science advisor John P. Holdren’s 1977 textbook Ecoscience, which calls for a dictatorial “planetary regime” to enforce draconian measures of population reduction via all manner of oppressive techniques, including sterilization.

Gates’ eugenicist zeal is shared by his fellow Bilderberg elitists, many of whom have advocated draconian policies of population control in their own public speeches and writings. Indeed, the Rockefeller family funded eugenics research in Germany through the Kaiser-Wilhelm Institutes in Berlin and Munich. The Rockefeller Foundation praised Hitler’s sterilization program in Nazi Germany. David Rockefeller attended the first Bilderberg meeting in 1954 and is now the head of Bilderberg’s “steering committee”.

A joint World Health Organization-Rockefeller inoculation program against tetanus in Nicaragua, Mexico and the Philippines in the early 1990’s was in fact a covert trial on using vaccines to medically abort women’s babies.

“Comite Pro Vida de Mexico, a Roman Catholic lay organization, became suspicious of the motives behind the WHO program and decided to test numerous vials of the vaccine and found them to contain human Chorionic Gonadotrophin, or hCG,” writes historian F. William Engdahl in his article, Bill Gates And Neo-Eugenics: Vaccines To Reduce Population. “That was a curious component for a vaccine designed to protect people against lock-jaw arising from infection with rusty nail wounds or other contact with certain bacteria found in soil. The tetanus disease was indeed, also rather rare. It was also curious because hCG was a natural hormone needed to maintain a pregnancy. However, when combined with a tetanus toxoid carrier, it stimulated formation of antibodies against hCG, rendering a woman incapable of maintaining a pregnancy, a form of concealed abortion. Similar reports of vaccines laced with hCG hormones came from the Philippines and Nicaragua.”

Gates recently announced that he would be funding a sterilization program that would use sharp blasts of ultrasound directed against a man’s scrotum to render him infertile for six months. “The foundation has funded a new “sweat-triggered vaccine delivery” program based on nanoparticles penetrating human skin. The technology is described as a way to “…develop nanoparticles that penetrate the skin through hair follicles and burst upon contact with human sweat to release vaccines,” writes health researcher Mike Adams.

Gates is likely to be asked by other Bilderbergers how to get the global warming carbon tax agenda back on track after a drastic plummet in the credibility of climate change alarmists since the Climategate scandal broke.

Part of Bilderberg’s agenda to usher in a “post-industrial revolution” revolves around mandating western countries to adopt disastrous “green economy” initiatives, which as Spain has painfully experienced at first hand, cost over 2.2 jobs for every “green” job created.

The carbon tax agenda is also about enforcing a consumption tax which will drastically reduce living standards and leave people more concerned about feeding their families with little time to worry about Bilderberg’s undemocratic scheming, something the Bilderberg hierarchy are keen to oversee in an effort to squash the growing global awareness of Bilderberg and the new world order, because they view “people with income” as “a threat” to their plans for world government.

Watch Bill Gates’ comments on using vaccines to lower global population in the clip below.

Police State 4: The Rise of FEMA

Posted in 9/11, Alex Jones, Attack on Freedom, False Flag Terror, International Bankers, Kurt Nimmo, New World Order, News, Paul Watson, Police State/Martial Law, Secret Societies, Shadow Government, Steve Watson, Stupid Government Tricks, The Constitution, The Federal Reserve, Truth/Freedom, Tyranny, Unconstitutional with tags , , , , , , , , , , , , , , on April 24, 2010 by truthwillrise

Order The DVD at: http://infowars-shop.stores.yahoo.net…POLICE STATE 4 chronicles the sickening depths to which our republic has fallen. Veteran documentary filmmaker Alex Jones conclusively proves the existence of a secret network of FEMA camps, now being expanded nationwide. The military industrial complex is transforming our once free nation into a giant prison camp. A cashless society control grid, constructed in the name of fighting terrorism, was actually built to enslave the American people. Body scanners, sound cannons, citizen spies, staged terror and cameras on every street corner — it’s only the beginning of the New World Order’s hellish plan.

This film exposes how the “Continuity of Government” program has established an all powerful shadow state. Prepare to enter the secretive world of emergency dictatorship, FEMA camps, and a shredded Constitution. Witness police and military savagely attacking innocent citizens as our own government unleashes false flag operations to justify its oppression. Then watch as Alex Jones takes on corrupt mercenary police and exposes mainstream media brainwashing.

DERU.S. Senator Slams Washington Post Defense Of Fed Secrecy

Posted in 1, Attack on Freedom, economic tyranny, Economy, Fiat Currency, International Bankers, New World Order, News, Ron Paul, Steve Watson, Stupid Government Tricks with tags , , , , , , , , , on July 28, 2009 by truthwillrise

 

Steve Watson
Infowars.net
Tuesday, July 28, 2009

US Senator Slams Washington Post Defense Of Fed Secrecy 280709Sanders

Senator Bernie Sanders (I-VT), sponsor of S 604, the Federal Reserve Sunshine Act of 2009, has slammed a recent Washington Post editorial that contends the Federal Reserve should not be subject to a general audit.

Sanders vented his opinions in a letter to the editor which was published in the Post today.

“We must not equate ‘independence’ with secrecy.” Sanders writes in response to the Post’s Friday editorial entitled “Focus on the Fed” which attacked his own and Congressman Ron Paul’s efforts to enact the Federal Reserve Transparency Act, a move that would allow the American people to find out for the first time where trillions in taxpayer funded bailout dollars have been used.

“No matter how intelligent or well-intentioned the Fed chairman and his staff may be, it isn’t appropriate to give a handful of people the power to lend an unlimited supply of money to anyone it wants without sufficient oversight.” Sanders writes.

“Absolute power corrupts absolutely. The American people have a right to know what is being done with their hard-earned taxpayer dollars. This money does not belong to the Fed; it belongs to the American people.” Sanders urges.

The Washington Post’s editorial angered many readers late last week by essentially advocating the continuation of non-accountability in government.

“Though the bill has attracted 276 co-sponsors in the House and 17 in the Senate, it is wrongheaded in the extreme.” the Post’s anonymously written piece stated.

“By opening up the Fed’s most sensitive interest rate and credit policies to public second-guessing, the bill would create a risk — real and perceived —

 of monetary policy bent to suit congressional overseers. This would destroy financial markets’ faith in the Fed and, by extension, the value of the U.S. dollar, just as surely as a political ‘audit’ of the Supreme Court’s deliberations would undercut public faith in the justice system.” the piece claimed.

“This article makes comparisons that are utterly dissimilar.” Libertymage writer Robin Grammer succinctly points out.

“Not only does our justice system make available verdicts and vote counts the same day that the court votes on the issue, they also make public the dissenting parties with the articulated minority opinion. This is a a world of difference from the transparency policy of the Federal Reserve, who graciously offers us meeting transcripts five years after the meetings occur. The transparency policies of these two groups are in no way similar and making such a comparison is disingenuous at best.” he concludes.

Furthermore, as Ron Paul himself explained during the Financial Services Committee hearings last week, the bill would do nothing to further politicize the Fed’s decision making given that the Fed is already overtly politicized anyway.

“Just the fact that they can issue a lot of loans and special privileges to banks and corporations, that’s political. This idea that it would be political because we know what happened afterwards just doesn’t seem to add up.” Paul beseeched.

The bill would not give anyone in Congress or elsewhere the authority to sit in on Fed hearings, thus it would have no impact monetary policy. All it would do is provide answers to the American people as to where their hard earned money is being spent.

The Federal Transparency Act would also expose the fact that it is the Federal Reserve that is responsible for the artificial inflation of the debt bubble and the issuing of credit out of thin air, the driving force behind the financial crises.

The Truth is that the Washington establishment knows that an audit would set the stage for a return of honest money and fiscal policies, in which the privately run Federal Reserve can play no role.

It comes as little surprise therefore to see the establishment media in Washington advocating a continuation of unaccountability and blanket secrecy.

 

 

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Obama Regulatory Reform Plan Officially Establishes Banking Dictatorship

Posted in Alex Jones, Attack on Freedom, economic tyranny, Economy, Fiat Currency, International Bankers, New World Order, News, Paul Watson, Shadow Government, Steve Watson, Stupid Government Tricks, The Federal Reserve, Tyranny, Unconstitutional with tags , , , , , , , , , , , , , , on June 18, 2009 by truthwillrise
Paul Joseph Watson & Steve Watson
Prison Planet.com
Thursday, June 18, 2009

Obama Regulatory Reform Plan Officially Establishes Banking Dictatorship In United States 180609top2 

President Obama’s plan to give the privately-owned and unaccountable Federal Reserve complete regulatory oversight across the entire U.S. economy, which is likely to be enacted before the end of the year, will officially herald the beginning of a new form of government in the United States – an ultra-powerful banking dictatorship controlled by a small gaggle of shadowy and corrupt elitists.

The new rules would see the Fed given the authority to “regulate” any company whose activity it believes could threaten the economy and the markets.

This goes a step further than the centrally planned economies of the Soviet Union or Communist China, in that the Federal Reserve is not even accountable to the U.S. government, it is a private entity that according to former Fed chairman Alan Greenspan, is accountable to nobody but the banking families that own it.

Obama’s regulatory “reform” plan is nothing less than a green light for the complete and total takeover of the United States by a private banking cartel that will usurp the power of existing regulatory bodies, who are now being blamed for the financial crisis in order that their status can be abolished and their roles handed over to the all-powerful Fed.

According to an Associated Press report today, Democratic leaders have committed to enacting the plan before the end of the year and Republicans in both the House and Senate have indicated that they won’t stand in the way of the overhaul.

“The final plan….is expected to sidestep most jurisdictional disputes and simply impose across the board standards to be applied by all financial regulators, according to administration and industry sources, ” reports the Washington Times.

In other words, the Fed, which is already totally unaccountable to Congress, is to be placed in complete control of the entirety of the U.S. financial system, to do as it wishes without repercussion.

As the LA Times reports, the government, in conjunction with the private Federal Reserve, would effectively have the clout to simply seize and take over any company it desires.

In order to appease those opposed to the plan, such as Sen. Christopher J. Dodd, chairman of the Committee on Banking, Housing and Urban Affairs, the Obama administration has agreed to create a “watchdog” council of regulators to “advise the Fed”.

However, as former chairman  Alan Greenspan has most recently pointed out, given that the Fed is an independent entity, and therefore accountable to no one, it will have the power to simply reject and overrule any advice it is offered.

Pointing out the flagrant conflict of interest in empowering the Federal Reserve to essentially regulate itself, Professor of public affairs at the University of Texas at Austin Robert Auerbach writes, “The Federal Reserve has massive conflicts of interest that make it ill suited for its present regulatory functions and certainly for an expanded regulatory reach. The officials leading the Fed today preside over an organization that is run in substantial part by the bankers they regulate. Bank regulation begins at its 12 district Federal Reserve Banks, each governed by a nine-member board of directors, two-thirds of whom are elected by the bankers in the district.”

As economic author Nomi Prins highlights, Obama’s plan does nothing whatsoever to fix the excesses of financial institutions blamed for the financial collapse, it only ensures their continued operation and an expansion of the practices that contributed to the economic crisis in the first place.

“The ’sweeping overhaul’ of the financial system detailed by Geithner on behalf of the Obama administration does not overhaul the system at all,” writes Prins, “giving the Fed a bigger role, creating a ‘council of regulators’ to oversee the existing oversight bodies and allowing the biggest Wall Street players to maintain their status, leaves the system intact.”

“The Federal Reserve is not a fully public entity. It has amassed a set of $7.87 trillion worth of facilities and other entities through which it has lavished cheap loans in return for questionable collateral from the banking system. It has kept the true nature of these transactions a secret despite numerous FOIA requests. And, it has actively promoted the creation of bigger institutions in a chaotic environment, rather than putting the brakes on the creation of these giants,” concludes Prins.

Proof that the agenda of implementing overt financial dictatorship is being carefully coordinated can be seen in the fact that an almost identical scheme is also being set up in the United Kingdom, where “The governor of the Bank of England has called for greater powers to allow it to fulfil its new role of promoting financial stability,” according to a BBC report.

 

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Just as in the U.S., King is calling for traditional independent regulatory bodies to be all but abolished and replaced by the Bank of England itself, which just like the Federal Reserve is a private outfit with no accountability to the government whatsoever.

The mainstream media, for the most part, has reported the oversight plan as a much needed regulatory crackdown on those responsible for the financial crisis. However, the details of the plan constitute almost exactly what lobbyists for leading bankers have been pushing for over the past few weeks.

“All derivatives contracts will be subject to regulation and all derivatives dealers subject to supervision,” Treasury Secretary Timothy F. Geithner said at a Time Warner Economic Summit in New York on Monday, also noting “When you have too many people involved, there’s an accountability problem.”

As we reported earlier this month, heads of nine of the biggest banks in the derivatives market, including JP Morgan Chase, Goldman Sachs, Citigroup and Bank of America, secretly lobbied to keep derivatives under Federal Reserve “oversight” and away from real scrutiny.

As reported by The New York Times, they all met secretly to discuss how to use the lax regulation and institutional secrecy of the NY Fed to shield their credit-default swaps business from prying eyes and attempts at regulation.

The banks formed a lobby– the CDS Dealers Consortium– only weeks after accepting TARP funds in October 2008 to protect its interests. Heading this effort was Edward Rosen, who previously helped fend off derivatives regulation. Rosen wrote and circulated a “confidential memo” to the Treasury Department and leaders on Capital Hill, making their agenda clear, the Times reported.

Rosen and his backers propose that derivatives be “traded in privately managed clearinghouses, with less disclosure,” according to the Times. The clearinghouse of choice for the big banks in Rosen’s CDS Consortium is ICE U.S. Trust, which is in turned regulated only by the Federal Reserve system.

So the upshot of all this is that the bankers get what they want, are allowed to carry on as they were, while at the same time the fractional reserve banking system and the federal government are both greatly expanded and empowered, and the compliant corporate media ludicrously tells us that a strict crackdown is underway.

This kind of activity is exactly what some leading representatives have warned of in recent weeks.

A fortnight ago, the Democratic Chairman of the Agriculture Committee, Collin Peterson, announced to the press that “The banks run the place,” in reference to the US Congress.

While Peterson is also pushing for legislation to regulate derivatives trading, his proposed bill would limit derivatives trading to public exchanges, rather than private clearinghouses, which are managed by banks.

Peterson’s warning mirrors that of Democratic Senator Dick Durbin, who just a few weeks before uttered the same rarely acknowledged truth.

“And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place,” Durbin said.

How simultaneously dangerous and ridiculous it is that the Federal Reserve is given more authority to oversee the economy. This is the same privately run entity that refused to comply with congressional demands for transparency and disclose the destination of trillions dollars in bailout funds. It is the same privately owned entity that has withheld internal memos, in spite of freedom of information act requests. It is the same private entity, run for the most part by European banking elites, that has arrogantly refused to tell Senators and Congressmen which banks were in receipt of government loans.

The government is ready to hand over everything to a monolithic private corporation and a gaggle of bastard banker offspring, that have gobbled up an amount close to the entire GDP of the country in taxpayers’ money and figuratively stuck the middle finger up regarding questions over where that money has gone.

It can be no more apparent than at this time that legislation to audit, repeal and eventually end the Federal Reserve, must be supported by Americans if they want to see their children and their grandchildren grow up without indentured debt and entrenched servitude to a fascistic marriage of private banks and hugely inflated government.