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Geithner to Seek Unprecedented Powers, Insiders Say

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posted on Mar, 24 2009 @ 02:15 PM
Increasing government powers to regulate the privately controlled investment system system is taking away power from the private banking system. This is what needs to be done to give people more power over these private banking systems. By increasing the power of the federal treasury to wield control over these private banking systems, the people are being given more power over how our monetary system is being controlled. This is a step back towards representative government control of our monetary system.

posted on Mar, 24 2009 @ 02:19 PM
No, this is a step towards government control of private industry.

That is not capitalism....not even close.

posted on Mar, 24 2009 @ 02:24 PM
reply to post by poet1b

Increasing government powers to regulate the privately controlled investment system system is taking away power from the private banking system. This is what needs to be done to give people more power over these private banking systems.

But your assertion is only true if we don't have the Banks in place AS government. That's the problem. The Banks are embedded in the government itself. Those who look after the interests of the banks are the ones empowered to regulate, deregulate, and make policy.

posted on Mar, 24 2009 @ 02:25 PM
reply to post by skeptic1

I agree completely. It sets a dangerous precedent that the government can step in and seize private firms at its discretion. Not only does it go against the principles of free enterprise that this country was founded upon, but potentially kicks the door wide open for all manner of governmental abuse.

I just wish I could say that I'm surprised by this, but I'm not. I did think it would take them longer to try something like this, though.

posted on Mar, 24 2009 @ 02:29 PM
reply to post by vor78

Never waste a crisis.....

And, they aren't. They are going to try to get their hands on as much as they can before the midterm elections in 2010.

posted on Mar, 24 2009 @ 04:02 PM
reply to post by skeptic1

No, it is not a step towards government control of private industry, it is a step towards government doing what it is supposed to do, according to our constitution, in controlling our monetary system.

Government regulation of business is a necessary component of a functioning market system, and always has been. Communism is the idealism that aims to eliminate government. Without an evenly enforced set of rules established by a governing body, competition does not exist in markets, and then markets fail to function effectively. Look at professional sports, all professional sports establish governing bodies to maintain a level of competition, and that is what our representative government needs to do for our markets. It isn't a perfect system, but compared to the alternatives, it is the only functioning system that has yet to work.

posted on Mar, 24 2009 @ 04:09 PM
reply to post by Maxmars

Of course banks are embedded in government, they are the major component of our monetary system. The question becomes, how independent from government should banks be?

Do you want a banking system completely controlled by private interests, or do you want a banking system completely controlled by government, or do you want a banking system that strikes some balance between the two extremes.

If our investment community hadn't driven off a cliff we wouldn't be in this mess, and government wouldn't be taking up more control of our investment industries. Clearly our government has a role in preventing fraud and theft in our investment markets. Given the current situation, it seems obvious that our government needs to get more involved.

posted on Mar, 24 2009 @ 04:18 PM
reply to post by poet1b

This power grab isn't just about the banks.

It is about firms outside the "financial sector" that could have a negative impact on the country's economy. You did read that part, right??

posted on Mar, 24 2009 @ 04:53 PM
Yeah, I read that, and indicated that in my posts. The finance sector, by bundling loans has essentially become a part of banking. AIG is insurance, and when the government and banks, which are an extension of government, began requiring insurance by law, then it is time to start treating insurance companies like banks. The same goes for 401k plans, and retirement funds.

Heck, insurance these days is getting to be like private sector tax. Insurance companies are some of the biggest scammers out there, and it is about time they were taken down a notch. Insurance companies, and banks, and investment bankers are all in this together, and they need to have someone start looking a lot closer at their activities. Organizations like these that are being granted special privileges as these institutions are should be regulated.

These companies certainly have no qualms about putting individuals through the ringer in enacting their policies. Why should individuals have to kow tow to these institutions all the time in order to exchange money, when they exist as a charter to the government. These institutions shouldn't be allowed to violate peoples rights any more than government. Clearly our investment communities have abused their privileges, and need to be reigned in.

posted on Mar, 24 2009 @ 05:05 PM

Originally posted by skeptic1
reply to post by Maxmars

Do you think the average citizen is smart enough to put together what we here at ATS can put together?

Or, do you think that TPTB are counting on the tiny attention span of the average citizen to allow them to get away with anything??

I believe the the average citizen will allow the government to get away with anything unless it pertains to the average citizen being cut off from food and water.

posted on Mar, 24 2009 @ 05:53 PM

Originally posted by xoxo stacie
Welcome to the "change we can believe in"!

It was bound to come about sooner or later,just happens to have come up sooner. Due to the current crisis they can get anything they want from the people they need to get it from.That includes all of us that aren't the mega rich. The mega rich corporates wanted to take over...only problem is they weren't paying off enough people on the governmental side of things. So guess what the governmental side is going to take over the corporate side and flush them for trying to screw the world with their pay us or else blackmail scheme.
I mean really look at the markets lately! Nothing has changed for the better in the real world and yet now that the government is talking about all their plans the market is going up? Why now? Before when they came around with the talking heads the market was dropping by leaps and bounds, now that they are talking about taking over completely the markets are surging? When the talks of it back a few weeks ago where crashing the markets and sending investors running for another manipulation hunny plain and simple.
Make people think that this is what the public as a whole wants and ALL of them will follow in due time. It's the pack mentality and it is working to a T. No one wants to be the odd man out so eventually they will all fall inline and do what they are told. Environmental Psychology 101

I am sorry to break it to you but the stock market retreated significantly today and will likely again tomorrow, and have several little surges and slumps over the next months.

This is the Powers that Be way of sucking more money out of the economy. Fresh money and relatively innexperieced investors to step in to buy stocks flooding the market with some cash, the stocks go up, the big players then sell theirs off to suck in the profits from the sucker and then it collapses right back down again, when investors panic from the big boys sell off. When they slide back down to the right price, the big players step in, buy the best ones on the cheap and wait to catch the next wave to do it again. The little guy will get wiped out every time, the big guys will make money every time.

The corporations don't blackmail the government, the corporations own the government. When a Bill Comes out of Congress like the recent HR 1388 legislating volunteer service and a centralized ID Data base to be outsourced to some unamed corproration, that's because the unamed corporation, the computers, staff, and materials to make the I.D. Cards have already been created and made and are stand by just waiting to be funded and brought up to full operation when the Bill passes. The Bill wasn't introduced you see for the good of the public or the country, the bill was introduced for the good of the corporation that is going to make the most government money off of it, courtesy of you the tax payer.

A lot of people were outraged that Haliburton recieved a 1 million dollar a day no bid contract to run the infrastructure in Iraq, but the reality is the War in Iraq was so that Haliburton could deploy and employ all the things it bought, and created, and logistically planned to run Iraq at a 1 million dollars a day, long before, years before WMD was first uttered.

Whether it's community service for the good of the nation, a war for the good of the nation, an economic bail out of some industry or institution that's good for the nation, it's never reactionary, as the government would leave you to believe, it's proactively done to fund the investments corporations have already made in making these things happen, long before you hear a word about it in the media, or a Congressmen, Senator or President talk about it and sell it to you.

You just get the lucky job of working and giving up about 40% of your income in Federal, State, Local withholding taxes, sales taxes, gasonline taxes, liqour and cigarrette taxes, vehicle and liscensing taxes and comming soon to a location near you a carbon emmissions tax for using silly little things like the car you paid taxes on, and the gas you paid taxes on to make it run, and soon a tax for the exhaust that comes out of it when you do run it.

All that money is just one giant pool to be funnelled into the big corporations who couldn't get you to walk into Walmart to buy your own National Civiil Service ID, but can get the Government to buy it from them for you!

In this case the new corporation is called ServeAmerica Corp. Initially it calls for civic minded people to volunteer time to philanthropic and nonprofit orginizations. In other words you can serve the Rockefellers, Carnegies or Mellons for free. You can get tax credits for doing that if you are a student. In other words the people least likely to have a taxable income can make sure they have no taxable income. Sounds like a bargain right? But what is in it for the Rockefellers, Carnegies and Mellons you ask besides this free labor? Well of course Government Grants to train you to labor for them for free, on the outside chance you are a student who has time to go to school, volunteer and still earn a taxable income. Now this is terribly unfair to the employers of the world who might like to exploit a young students lack of real skills and put them into some low paying job that just might pay enough to reach the taxable income level which right now for a single student would be around 9,000 dollars a year. So if you are employed and want to volunteer so the Carnegies, Mellons and Rockefellers can get more grant money from the government and some free labor, your employer gets a tax credit too!

I know it seems limiting at first, these opportunities just for the young students to get a few tax credits. Limiting for ServeAmerica Corp., but if you take the time to write your Congress Person or Senator about this they will be happy to tell you this is the first step down the path to a lifetime of free service to your Government/corporation.

Yeah Staci, we sure have those corporations where we want them now. Tune in tonight and see how many more billions we are going to give the banks.

Oh boy!

posted on Mar, 24 2009 @ 09:38 PM
Oh come on, lets look at the way things really work.

The stock prices are driven up by the people hired by corporations to manage 401k plans, and this is the way things have been ran for the last fifteen to twenty years. 401k plans were bleeding money even during the internet stock market boom of the late nineties, These companies that manage 401k plans have another set of clients that get rich off of the funds. The insider clients buy up worthless stock at a low price. 401k plan managers then drive up the price of that stock by buying large amounts with the 401k funds. Then the insider clients sell the stock for a large profit, and the 401k people get screwed. This has nothing to do with the government, it is how our finance sector has developed their standard practice.

The real solution would be for fed agents to throw all these finance crooks into jail where they belong.

The government might get 40% of your money, but between the insurance companies and the banks, they get at least 50% of your money.

There is 10% of every purchase you make going to credit cards and ATM services, which is higher than the sale tax you pay, it's just hidden so corporations can fool suckers into hating sales tax while being obliviously unaware of the even higher rate the banks collect for making electronic transfers of money.

You pay interest on your house, your car, student loans, any credit card debt you carry, and of course banking fees, which hammer you any time you make a mistake. A young couple paying for two cars, a mortgage, and college loans shells a lot of money out each month on interest alone.

Then you pay insurance on your cars, house, life, health care. The goods you buy are insured by the retailer, the shipping company, and the manufacturer. All of these insurance costs are built into the products and service you pay for.

Then of course most leverage buyouts are done through credit, so when the company you work for gets bought out, and your job is shipped over seas, it is all done on credit, financed through the theft of your retirement plans.

Ah, but we wouldn't want government to interfere with the activities of our finance industries now would we, we much prefer to be sheared like the sheep we are. YES, by all means, keep blaming the government for all of your problems.

posted on Mar, 24 2009 @ 09:47 PM
It was said that a company that is too big to fall is just too big. Seems that these companies are putting everything into one basket instead of splitting it up into pieces so that if one part of the company fails the others will still stand. Also to make sure that you don't take money from the other parts of the company to lift up the falling one. It should just fail. This concept will work if only they would do it. I would suppose also the same thing for a country. Break up the country into pieces and if one part of the country is down it will not take the rest down with it. I believe it should be given a great deal of thought on this idea.

posted on Mar, 24 2009 @ 10:14 PM
Our Country is being hijacked by the left, we're falling into socialist hands.

posted on Mar, 24 2009 @ 10:18 PM
reply to post by poet1b

Yes, but if people could even come to that understanding in the first place, they would be absolutely HORRIFIED by what it would take to correct it.

At this point, it is a foregone conclusion. The changes that need to be made to fix the mess would require a restructuring effort from the ground up.

In the end, the Government will do just as others here are suggesting, and use this as an opportunity to put an even stronger clasp on the stranglehold of this Country.

It is unfortunate that it is going to come to this, but there is a storm brewing.

posted on Mar, 24 2009 @ 10:25 PM

I swear the Obama administration is following ATLAS SHRUGGED .
I encourage everyone to read it. It's prophecy.

Who is John Galt?

posted on Mar, 24 2009 @ 10:38 PM
reply to post by Grumble

Let us hope that this woman is John Galt.'

I mean, we are pretty much at a pivotal point right now. People will either decide to change things in masse or we will be led down a path to total slavery.
We need something to make people see there is something better worth striving for.

[edit on 24-3-2009 by Jay-in-AR]

posted on Mar, 24 2009 @ 10:39 PM

Our Country is being hijacked by the left, we're falling into socialist hands.

You've got part of it right but the word "hijacked" implies something is being taken forcefully. They aren't taking it forcefully, it's being handed to them with a smile and a "thank you, Big Brother." Sheeple will do anything the government says if they think it will somehow make them safer.


[edit on 24-3-2009 by TheAssociate]

posted on Mar, 24 2009 @ 10:43 PM
Wow, I doubt he’ll need to push too hard for unprecedented new regulatory powers. He already has them.

I find it extremely odd that many other recent posts correlate with this one regarding currency and financial issues.

I have said repeatedly how shocked I am with the increased frequency of these historic events. It’s truly mind boggling!

You get a star and flag from me. Too bizarre! One minute Geithner is ready to resign and Obama wont let him, now this??

“government will sell or transfer assets” from AIG. “risky derivatives portfolios” Do you understand the severity in such statements.

I know most don’t understand wall street but if you want to see a show tomorrow go to;$INDU " target='_blank' class='tabOff'/>

I dont claim to be a pro but when Lehman brothers was allowed to fail Sept. 15th the DOW dropped 777 points. I'm kind of looking for a 666.

Wall street is directly related to main street. It was never intended to be an economic indicator or have the ability to bring the country to it's knees but it’s a fact in this mess now.

I’m not sure what is going on either but I think their intent is to Nationalize all the banks. Both Citi and BOA are in deep. I

I’m only making an assumption here but the banks may have failed the “Stress test” This could be why China is requesting a global currency, a possible FEMA warning about bank closers, GOP claims doomsday in Obama’s budget is passed. The DOW raising almost 500 points the other day, the UN saying ditch the dollar.

If you were to see a volatility index from 1929 you would see a similar chart today. This is compared to the Great Depression, however this is much worse! There is honestly too much here to be a coincidence!

I'll look for my chart.

It's all aprt of a broader, manipulative plan.

posted on Mar, 24 2009 @ 10:58 PM
This chart is not totally complete yet but it compares todays charts with the 1929 chart prior to the great Depression.

That 500 point spike we had the other day is a big player in this FALL!

I dont want to push anyone away who isnt in to this subject but it is a rational idea.

This is only a small part of this issue but I do find it relevant, in the over all picture.

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