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China's Road to Power












By Al Duncan

March 18, 2011

I recently watched the Inside Job, a new documentary film by Charles Ferguson and narrated by Matt Damon. The Oscar-nominated filmmaker performs a vital public service, offering a comprehensive and forthright look at the root causes behind the 2008 global economic crisis. The Inside Job is a must-see, since the events exposed in this film are shaping the future of every American.

The following is my account of the current economic crisis and how it has forever altered the way the world does business.

In 1780, the infamous Mayer Amschel Rothschild said, “Give me control of a nation’s money and I care not who makes her laws.”

In the summer of 2005, I sat at my desk with two fellow agents discussing the most explosive real estate market to hit the country. I had gathered sufficient information and insight to describe exactly what was taking place, and more importantly, its devastating consequence.

As I told my colleagues, in order to convey a comprehensive representation of the situation, it is necessary to assemble the background events leading up to the current state of affairs.

Because of the 1929 crash that caused the Great Depression, in 1933 Congress passed a federal law called the Glass-Steagall Act. The Glass-Steagall Act prevented commercial banks, like Bank of America, from promoting and selling stocks and bonds; it basically kept them out of the securities market.

Alan Greenspan, a Rockefeller/Rothschild crony, left J.P. Morgan as chairman of the Board for his new position as Chairman of the Federal Reserve—he retained that position for 20 years. One of Greenspan’s initial acts in 1987 was to petition Congress to deregulate the financial services trade and remove the Glass-Steagall Act. In 1994, Greenspan had Congress rewrite the Community Reinvestment Act, which removed the basic requirements for good credit, a down payment, and sufficient income to service the loan. Through Greenspan’s doggedness, the Glass-Steagall Act was ultimately repealed in 1999.

Henry Paulson (another Rockefeller/Rothschild crony, Chairman of Goldman Sachs, and eventually Secretary of the Treasury), along with four other investment banks, persuaded the Securities and Exchange Commission (SEC) to raise the requirement for banks to maintain a certain amount of reserves.

Banks operate on what is called a “fractional-reserve banking” system. For every $1 in reserve, banks can loan $10. By lowering the reserves amount limited the SEC’s ability to regulate the amount banks loan against reserves. This literally empowered the bankers to regulate themselves. With this new deregulation, banks were now able to loan as much as they wanted, despite the actual amount funds held in reserve.

Moreover, with the Glass-Steagall Act out of the way, all restraints were now eliminated and the door was wide open for collusion between commercial and investment banks. Risky, subprime loans, were combined with top rated, prime loans, and packaged as Mortgaged Backed Securities (MBSs). While commercial banks retained some of these securities, investment banks purchased them in mass amounts and then repackaged them, attained AAA ratings and sold them all over the world to gullible buyers. This also meant insurance companies were permitted, if not required, to alter standardize procedures. Naturally, astronomical fees were attached to these MBSs, and Henry Paulson of Goldman Sachs was the leader of this Wall Street gang.

To fatten the pot for the ultimate conquest, Greenspan systematically reduced interest rates and creatively altered lending practices to include Adjustable Rate Mortgages (ARMs). He fashioned interest-only loans from 1 to 5 years, and the utterly preposterous negative-interest loans with an option not to pay on the principle between 1 to 5 years.

Sellers were encouraged to allow the closing and repair costs to be added to the purchase price, which inflated the overall cost considerably, while inflating the overall home prices in the real estate market as well. Appraisers were pressured to exaggerate the true value of property to appease the seller, the buyer, the real estate agent and the Mortgage lender. While banks unwilling to participate in this fraudulent practice feared reproach from the almighty Federal Reserve, who would simply deny them access to funds. Greedy Mortgage lenders with hyped advertisement also gave aid to these illicit tactics that spurred the gullible public to buy and sell.

As each previous surge of buyers diminished, the requirements were reduced, interest rates were lowered, and fresh buyers were lured into the market. Each time interest rates were lowered prices inflated until the cost of the average home had doubled in just three years. This process continued until the buying pool began to dwindle, and then the refinance market was incorporated, and a new group of victims were ensnared. This process was repeated until, even at these reduced standards, the real estate market was eventually depleted of buyers.

Conditions were now ripe for an International fleecing at heights never reached before. Mortgage Backed Securities were later dubbed toxic waste, toxic paper, and lethal weapons of financial mass destruction. At the speed of light these MBSs were injected into the international marketplace via the stock and futures markets. Buyers included banks, investment houses, financial firms, and private investors from all over the planet. These securities were sold and resold again, and with each transaction another excessive fee was tacked on until the total amount of these worthless paper assets reached an incalculable estimation of $1 quadrillion.

If you had $1 trillion, you could spend $100,000 a day since Jesus was born and you would still be a multimillionaire. You could spend a dollar a second and it would take 31,000 years to spend $1 trillion. It stretches my pea brain into a migraine headache trying to fathom $1quadrillion.

According to the Federal Reserve’s accounting report, M1 is the approximate of dollars circulating the globe, which is, approximately $1.5 trillion. M2, includes M1, which consists of checking accounts, savings accounts, money market accounts, CDs, etc. M2 amounts to about $8.5 trillion. M3 includes M2 and M1, and is supposedly every dollar everywhere, including loans on books, institutional money market mutual funds, etc. M3 totals about $15 trillion.

The Fed stopped publishing M3 in 2006, claiming, among other reasons, it was unimportant and too time consuming. Congressman Ron Paul says, “M3 is the best description of how quickly the Fed is creating new money and credit. Common sense tells us that a government central bank creating new money out of thin air depreciates the value of each dollar in circulation.” Without these figures, it is impossible to accurately determine how rapidly the Fed is inflating the dollar. This we do know, the supposed $1 quadrillion figure recorded on the ledgers of banks and financial institutions throughout the world vastly exceeds the total amount of dollars in existence.

It was evident from the start that an unqualified buyer without one penny invested, and therefore nothing to lose, when unable to make the next house payment would walk away from the property, leaving an unpaid debt. Those that were qualified, but could no longer make the house payment because the rate had now adjusted higher, suffered an even greater loss.

Hundreds of banks have failed since the 2008 crisis, and now we know why, they are all so full of toxic waste they are insolvent. Furthermore, all of these fraudulent and irresponsible transactions performed by the banking and lending establishments, were backed government institutions such as Ginny Mae, Freddie Mac, and the Federal Housing Administration. Apparently, from the onset, the public was the patsy to secure these financial institutions against failure. Even today, the Federal Housing Authority is backing dangerous subprime loans.

The housing boom peaked around 2006. Around six months later it started a perpetual decline. It was not until 2008 that the corporate media informed the public of the problem. By then, these weapons of mass destruction were unraveling at such velocity, it was beyond anyone’s ability to alter the course of events.

Money can be destroyed, but money does not disappear. Billions of dollars were made through these fraudulent transactions. Those that profited were the winners.

Webster’s New College Dictionary defines conspiracy as follows: “to join in a secret agreement to do an unlawful or wrongful act…”

I have revealed the illicit group of winners, but there were also four groups that suffer loss from this act of conspiracy. I will give you three of those losers now, and I will give you the last loser a little later in this article. Those who purchased the fallacious MBSs, and did not re-sell them, were the first losers. Depositors and shareholders whose funds were used by banks that are now insolvent were the second losers. Those who attained fraudulent loans and lost their homes were the third losers.

That is not to say that real estate agents, property sellers, appraisers, escrow companies, contractors, owners of lumberyards and hardware stores, etc. didn’t benefit temporarily, as everyone benefits in an economic boom.

As most of the population benefits during a boom, so most of the population suffers after the bust.

In 2009, the number of unemployed hovered at 400,000 a month and foreclosures averaged 300,000. These aren’t typical figures from Government statistics or the mainstream media; they are actual, real-time figures given by U-6. Governments always have and always will fudge figures and cook books. When unemployment benefits are exhausted the unemployed are no longer counted; if an unemployed person does find a job, it is a positional and monetary downgrade. For instance, there are 300,000 foreclosures in a month, and the following month, when the foreclosures drop to 299,900, the government claims, “the foreclosure rate is dropping.” Another example is when we are told, “Total sales are twice the expected.” However, without the figure of what was expected, it is all an illusion.

Today we’re being told the recession is over, green shoots are appearing and our public officials are trying to jumpstart the economy. But the truth is, we are in a depression that has surpassed recessionary stages long ago. If there are truly green shoots, they are weeds. If the intentions are truly to jumpstart the economy, why are our public officials weighing us down with more debt and still spending our money like drunken sailors? Something has to change before something can change.

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Two years ago I predicted that, by the end of 2010 we would begin to feel inflation and by the end of 2011, Katie bar the door—if she can. Unfortunately, since then, my beliefs have only been reinforced.

I could not conclude Part I of The Economy without a word of encouragement. This promise is to those of us who know and serve Christ Jesus as Lord and Savior, He will never allow a burden to be placed upon us that is more than we can endure.

Click here for part -----> 1, 2,

� 2011 Al Duncan - All Rights Reserved

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“Al Duncan is the author of The Master Plan, which is now being revised. He is also compiling a booklet of about 60 short articles for publication and future availability. Until recently, he wrote a weekly column for a local newspaper, the Lake County Record Bee, distributed by Associated Press. The readers were basically secular and unaware of the New World Order, so his articles were written hoping to educate the reader on this subject. However, Al realizes that NewsWithViews attracts an informed reader, who is seeking to expand his or her understanding of the truths behind the daily events, and how these truths can best help them meet the challenges ahead.

“Al is the fourth generation of Real Estate Brokers and for the past eight years he has owned Al Duncan Real Estate, Inc. in Clearlake, California. For the past seven years he has been on the financial committee, participated as a Sunday greeter and head usher at Lake County Bible Fellowship in Lakeport, California.”










Moreover, with the Glass-Steagall Act out of the way, all restraints were now eliminated and the door was wide open for collusion between commercial and investment banks.