Gary North-May 03, 2021 From 2011. The expression” Wall Street”is representative of the monetary neighborhood. The only practical reason for occupying Wall Street is for symbolic functions. You want to call the public’s attention to the problem.What is the problem
? I contend that the people inhabiting Wall Street do not comprehend the problem. If they did, they would be forming picket lines in front of the New York Federal Reserve Bank at 33 Liberty Street. That is where the problem began in 1914. That is where the problem will be solved.The less well informed will form picket lines in front of the representative firm of the
Federal Reserve Bank of New york city, namely, the Federal Reserve Bank structure in Washington, D.C. The power has actually never ever resided there. That is a sign to deceive the Congress of the United States, which
runs under the illusion that it supervises of the Federal Reserve System since it is nominally in charge of the Board of Governors of the FED, a company with nationwide sovereignty.The sign of this sovereignty is the suffix to its URL: www.FederalReserve.gov. The”gov “ID is the mark of sovereignty.The New York FED
is where the choices are made. Its URL suffix is “. org.”That is the mark of its legal incorporation as a private entity.What is Wall Street? It is a street sign. It is a structure.
It is the head office of the New York Stock Exchange. Beyond the structure is a sculptured bull. In front of the bull nowadays are picketers. They are making a point. They do not like the monetary system. They think that the central core of the financial system is on Wall Street.
It isn’t. To understand how the system truly runs, envision that you are at a bull fight.The matador is a conglomerate of large banks. Today, there are four of them. They hold about 57 %of the banking system’s assets.Who is the bull? Stock market investors. Bond investors. Rich people who believe Wall Street is the roadway to Easy Street.From time to time over the last 200 years approximately, starting in 1819, this corporation has actually pressed the American economy into a series of booms and busts.
The very first major bust was in 1819. The matador has actually been politically susceptible on lots of celebrations. It was vulnerable for a decade,
1929 to 1939. The bull got its horns into the matador a couple of times, not by demonstrations on Wall Street however in the halls of Congress. The government has actually enforced lots of guidelines and guidelines after every stock exchange crash. As Dr. Phil asks his guests from time to time, after they have described how they have handled some terrible relationship concern: “How’s that working for you?”In the excellent old days– pre-Eisenhower– the head honcho at the FED was the president of the New York FED. The last noticeably powerful New york city FED president was Beardsley Ruml, who was likewise the head of Macy’s. Ruml was abundant, and effective beyond belief. Wikipedia explains him well.From 1922-29 he directed the fellowship program of the Laura Spelman Rockefeller Memorial Fund, concentrating on assistance for quantitative social and behavioral science. He was an advisor to President Herbert Hoover specifically on farm problems. In 1931 he became dean of the Department of Social Sciences at the University of Chicago– a center for quantitative research. He was not popular with the professors and in 1934 Ruml became an executive of R. H. Macy & Business, parent business of the department store, increasing to chairman in 1945. He also served as a director of the New york city Federal Reserve Bank (1937-1947), and was its chairman from 1941 until 1946; he was active at the Bretton Woods Conference (1944 )that established the global financial system. It was Ruml who encouraged the federal government to enforce withholding taxes in 1943, the best growth of profits since 1914– the income tax’s very first year. Ruml was the real deal. A few years after Ruml retired, the spotlight moved to William McChesney Martin, who was Chairman of the Board of Governors. Martin stayed in Washington. From then on, the Chairmen of the Board of Governors have gotten whatever spotlight that the FED gets– just the FED
can manage. That matches the powers behind the throne simply fine. Matadors require assistants to help them eliminate the bull. The primary one is the individual who supplies the sword.
Who is the sword-maker today? The Federal Free Market Committee( FOMC). It votes to establish financial policy. It acts upon behalf of the largest banks.Then there are the picadors. They stick barbed lances into the bull’s shoulders. This deteriorates it by bleeding it. These are the stock brokers.” Wall Street “is not where the power is. The New York Stock Exchange is an arena where the matador
and the bulls carry out. The bulls are the poor little rich kids and ladies who think that they will get richer by turning their money over to equip brokers.This is the bull fight that really matters. This is the arena in which cash is separated from the rubes.
This is where the greatest banks make their money. Usage Google to look up the word”derivatives. “The Occupy Wall Street crowd normally gathers outside the arena. They dream of getting in one day. They wish to belong to the crowd that is inside, cheering. They dream of safe, comfortable retirements. They dream of federal government tasks. They imagine Easy Street by way of Wall Street. But they do not have the cash to enter the arena.
Most of them never ever will.Day by day, headline by headline, official federal government report by main federal government report, the matador waves his red flag and makes gestures that lure bulls into the trap.A bull is anyone with cash in the stock market. The banks care nothing about the demonstrators outside the New York Stock Exchange. That is not where the money is. That is where the money is extracted.The bulls keep turning over their money to stock brokers. The Dow Jones Industrial Average was at 11,723 on January 14, 2000. It closed at 11,809 today. In between, the dollar depreciated by over 30 %.
The bad souls demonstrating in front of the New York Stock Exchange have actually never been informed that the source of the sword that the matador wields resides at 33 Liberty Street.
That is where the majority of the world’s gold is stored. That is where the gold coming from the United States federal government– officially speaking– is expected to be saved. It is saved by the senior firm of the banking cartel: a privately owned facility.Congress will not audit the FED. It will not audit the gold. Yet Congress is formally sovereign, simply as the federal government’s gold at 33 Liberty Street formally comes from the government.If you would like to know how the
system works, follow the money– the real money. Learn where the gold is. Learn who owns it. Find out who can purchase it legally. Discover if it has actually been rented. That is where functional sovereignty resides.Occupy Wall Street is a side program for the people who will never ever see their cash drawn out by the huge banks. The rich schnooks who hand money over to stock brokers– to Wall Street– are the bulls in this national sport. They will feel the sword.
Like any bull that gets changed for the next grand show, they will never ever know what kills them.Olé! ________________________ Released on October 22, 2011. The initial is here.