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Posts Tagged ‘Office of Thrift Supervision’

money toilet paper

Crude Oil prices are up and the value of the U.S. dollar is down while our duly elected President Barack Hussein Obama is meddling yet again with free markets, furtherer eroding world confidence in the dollar and bringing our entire economic and political system another step toward socialism.  He is putting other nations in the position to ignore the U.S. dollar as the leader in world currency as, ” China and Russia have agreed to use each other’s currencies and eliminate the use of dollars in their trade,” according to  WWW.EVERBANK.COM blog, A Pfenning for Your Thoughts.

President Obama yesterday said…” we will dismantle the Office of Thrift Supervision and close loopholes that have allowed important institutions to cherry-pick among banking rules. We will offer only one federal banking charter, regulated by a strengthened federal supervisor. We’ll raise capital requirements for all depository institutions….” http://scoop.co.nz/stories/HL0906/S00188.htm

Noam Chomsky, http://en.wikipedia.org/wiki/Noam_Chomsky is critical of the American capitalist system and big business, he describes himself as a libertarian socialist who sympathizes with anarcho-syndicalism -a potential force for revolutionary social change.  Like, The Change You Can believe in?

Chomsky said, “I think it only makes sense to seek out and identify structures of authority, hierarchy, and domination in every aspect of life, and to challenge them; unless a justification for them can be given, they are illegitimate, and should be dismantled, to increase the scope of human freedom.” 

The pattern for the Obama manipulation banking game is disheartening to say the least.  The Federal Deposit Insurance Corporation- FDIC, Office of the Comptroller of the Currency- OCC, and OTS are all a part of the supervisory and regulatory framework of the banking industry.  Closing the Office of Thrift Supervision is more than likely going to result in the closing of more Savings and Loan Institutions through default, bankruptcy or government bailout.  There are existing laws an the books that had they been enforced, would not have allowed the “cherry picking” among banking rules and may have reduced this financial fiasco America and the world has gotten itself into. 
 
Offering further proof of another American Fiasco comes from NEW YORK (Dow Jones) via http://online.wsj.com/article/BT-CO-20090616-714654.html–The dollar declined Tuesday as major emerging market nations urged more diversity in the global currency system, another sign that big investors are growing restless with the greenback’s dominance. Brazil, Russia, India and China, collectively known as the BRIC nations, said after a meeting Tuesday that “it is very necessary to have a stable, predictable and more diversified currency system.”

Two years ago Jerome Corsi reported that the director of international economics at the Council on Foreign Relations has launched a scathing attack on sovereignty and national currencies.  Benn Steil, writing in the current (now past)  issue of CFR’s influential Foreign Affairs magazine, says “the world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn.” http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=55595  Looks like BRIC agrees.

All conspiracy aside, has the time come when are we saying goodbye to the dollar; hello to the New World Order, a One-World-Government, and loss of American dominance?

photo props to http://payday-z.com/dollar-drop-suits-stocks-well.html

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