Federal Reserve Bank of Dallas Advises We Must End Too Big to Fail – Now!

Dodd-Frank Perpetuates Too Big To Fail (TBTF): More Change We Believed In
Even the Fed is admitting that Dodd-Frank perpetuates rather than regulates the “Too Big To Fail” banking corporations that continue to rape and plunder America and the global economy.

FEDERAL RESERVE BANK OF DALLAS ADVISES WE MUST END TOO BIG TO FAIL – NOW!

The following is a letter from Richard W. Fisher, President and CEO of the Federal Reserve Bank of Dallas:

If you are running one of the “too-big-to-fail” (TBTF) banks – alternatively known as “systemically important financial institutions,” or SIFIs – I doubt you are going to like what you read in this annual report essay written by Harvey Rosenblum, the head of the Dallas Fed’s Research Department, a highly regarded Federal Reserve veteran of 40 years and the former president of the National Association for Business Economics.

Memory fades with the passage of time.  Yet it is important to recall that it was in recognition of the precarious position in which the TBTF banks and SIFIs placed our economy in 2008 that the U.S. Congress passed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) [Public Law 111-203].  While the act established a number of new macroprudential features to help promote financial stability, its overarching purpose, as stated unambiguously in its preamble, is ending TBTF.

However, Dodd–Frank does not eradicate TBTF.  Indeed, it is our view at the Dallas Fed that it may actually perpetuate an already dangerous trend of increasing banking industry concentration.  More than half of banking industry assets are on the books of just five institutions.  The top 10 banks now account for 61 percent of commercial banking assets, substantially more than the 26 percent of only 20 years ago; their combined assets equate to half of our nation’s GDP.  Further, as Rosenblum argues in his essay, there are signs that Dodd–Frank’s complexity and opaqueness may even be working against the economic recovery.

In addition to remaining a lingering threat to financial stability, these megabanks significantly hamper the Federal Reserve’s ability to properly conduct monetary policy.  They were a primary culprit in magnifying the financial crisis, and their presence continues to play an important role in prolonging our economic malaise.

There are good reasons why this recovery has remained frustratingly slow compared with periods following previous recessions, and I believe it has very little to do with the Federal Reserve.  Since the onset of the Great Recession, we have undertaken a number of initiatives – some orthodox, some not—to revive and kick-start the economy.  As I like to say, we’ve filled the tank with plenty of cheap, high-octane gasoline.  But as any mechanic can tell you, it takes more than just gas to propel a car.

The lackluster nature of the recovery is certainly the byproduct of the debt-infused boom that preceded the Great Recession, as is the excessive uncertainty surrounding the actions – or rather, inactions – of our fiscal authorities in Washington.  But to borrow an analogy Rosenblum crafted, if there is sludge on the crankshaft – in the form of losses and bad loans on the balance sheets of the TBTF banks- then the bank-capital linkage that greases the engine of monetary policy does not function properly to drive the real economy.  No amount of liquidity provided by the Federal Reserve can change this.

Perhaps the most damaging effect of propagating TBTF is the erosion of faith in American capitalism.  Diverse groups ranging from the Occupy Wall Street movement to the Tea Party argue that government-assisted bailouts of reckless financial institutions are sociologically and politically offensive.  From an economic perspective, these bailouts are certainly harmful to the efficient workings of the market.

I encourage you to read the following essay.  The TBTF institutions that amplified and prolonged the recent financial crisis remain a hindrance to full economic recovery and to the very ideal of American capitalism.  It is imperative that we end TBTF.  In my view, downsizing the behemoths over time into institutions that can be prudently managed and regulated across borders is the appropriate policy response. Only then can the process of “creative destruction” – which America has perfected and practiced with such effectiveness that it led our country to unprecedented economic achievemen – work its wonders in the financial sector, just as it does elsewhere in our economy.  Only then will we have a financial system fit and proper for serving as the lubricant for an economy as dynamic as that of the United States.

Source of this letter:

http://dallasfed.org/assets/documents/fed/annual/2011/ar11a.pdf

The entire essay, “Choosing the Road to Prosperity: Why We Must End Too Big to Fail Now”, by Harvey Rosenblum:

http://dallasfed.org/assets/documents/fed/annual/2011/ar11b.pdf

Public Law 111-203:

http://www.gpo.gov/fdsys/pkg/PLAW-111publ203/content-detail.html

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TIME TO END TOO BIG TO FAIL! TIME TO END THE FED AS WELL!

IronBoltBruce via VVV PR ( http://veritasvirtualvengeance.com | @vvvpr )

Related Image: http://veritasvirtualvengeance.files.wordpress.com/2012/03/dodd_frank_too_big_to_fail_tbtf.jpg

Related Video: http://www.youtube.com/watch?v=fyVOJPDYp34

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Tag: #cronycapitalism, #kleptocracy, #economy, #fed, #federalreserve, #banks, #banking, #tbtf, #sifi, #doddfrank, #fascism, #occupy, #ows, #vvvpr

 

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Call to Action: Use NaSI SARs to Charge Your Representative & Senators with Seditious Conspiracy (g1a2d0085c1)

CALL TO ACTION: USE NASI SARS TO CHARGE YOUR REPRESENTATIVE & SENATORS WITH SEDITIOUS CONSPIRACY
Global Revolution 1: American Revolution 2: Day 85: Communication 1
IronBoltBruce’s Kleptocracy Chronicles for 10 Dec 2011 (g1a2d0085c1)
Will you go quietly like the Jews, or make a stand against Fascism?

The corporate powers that be have been attempting to redirect the wrath of the Occupy Wall Street movement to their puppet politicians in Washington DC since day one. And by yet another coincidence – or more likely design – the National Defense Authorization Act of 2012 (NDAA) now forces our attention in that direction. This Act was passed by both the U.S. House of Representatives (H.R.1540) and the U.S. Senate (S.1867), and now lacks only the signature of Bushbama to become law. If he signs it, the corporate fascist takeover of America initially exposed and delayed by USMC General Smedley Butler in the 1930s will be complete:

Section 1031 of the NDAA as currently worded authorizes the President to use Military Force to detain indefinitely based on suspicion alone and without trial American citizens on American soil, effectively making the United States a Police State similar to Nazi Germany. You can read the wording here:

http://tinyurl.com/c4w2wdh

This is in direct conflict with and an overt attempt to override the 4th, 5th and 6th Amendments to the Constitution:

“Amendment 4 – Search and Seizure. Ratified 12/15/1791.

The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

Amendment 5 – Trial and Punishment, Compensation for Takings. Ratified 12/15/1791.

No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.

Amendment 6 – Right to Speedy Trial, Confrontation of Witnesses. Ratified 12/15/1791.

In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defence.”

http://www.usconstitution.net/const.html#Am4

93 of our 100 Senators and 322 of our 435 Representatives voted to make this Orwellian scenario the law of the land. You will find the names of these criminals listed here:

http://tinyurl.com/7v6zlq3

http://tinyurl.com/3mh3ke7

What follows is my layman’s legal justification for refering to these corporate puppets as “criminals”, and a call to action to all Americans to assure that their crimes do not go unpunished. I am not an attorney, and certainly not a constitutional lawyer. If you are – or if you know and can afford one – I invite you to take this ball and run with it:

Pursuant to Article 6 of the Constitution, every member of both houses of Congress is required to take the following oath of office: “I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter: So help me God.”

http://www.usconstitution.net/const.html#Article6

http://bensguide.gpo.gov/3-5/symbols/oaths.html

In voting to pass the National Defense Authorization Act of 2012 and thereby override our Constitution and Bill of Rights, 93 Senators and 322 Representatives clearly violated their oath of office. But unsurprisingly, they face no legal penalty for their “breach of oath”:

http://oathact.us/

In conspiring to pass a bill that would enable the use of military force to prevent, hinder, or delay the execution the of 4th, 5th and 6th Amendments, however, these 415 servants of the Kleptocracy committed “Seditious Conspiracy”, a federal crime punishable by up to 20 years imprisonment:

U.S. CODE > TITLE 18 > PART I > CHAPTER 115 > SECTION 2384 > SEDITIOUS CONSPIRACY

“If two or more persons in any State or Territory, or in any place subject to the jurisdiction of the United States, conspire to overthrow, put down, or to destroy by force the Government of the United States, or to levy war against them, or to oppose by force the authority thereof, or by force to prevent, hinder, or delay the execution of any law of the United States, or by force to seize, take, or possess any property of the United States contrary to the authority thereof, they shall each be fined under this title or imprisoned not more than twenty years, or both.”

http://www.law.cornell.edu/uscode/18/2384.html

CALL TO ACTION:

I am asking all American citizens to check the following links to see if their Senators or Representatives are among the 415 that need to be arrested and charged with Seditious Conspiracy:

http://tinyurl.com/7v6zlq3

http://tinyurl.com/3mh3ke7

If they are, I recommend you report them using the most expeditious tool for assuring that all federal, state and local law enforcement agencies who need to get involved are properly informed, and that is the Nationwide Suspicious Activity Reporting (SAR) Initiative, or “NaSI” for short. SAR links for all 50 states are available here:

http://amerikanreich.com/sar-list/

This is no joke. This is no drill. This may be our last chance to peacefully restore the Republic. And even if you might not consider our Republic worth saving, I suggest you help imprison THEM before they imprison YOU.

Related Image:

http://ldrlongdistancerider.com/images/Seditious_Conspiracy.jpg

Related Video:


Oath Keepers: We need you NOW!

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DEMONSTRATE, DONATE OR DISTRIBUTE, BUT PLEASE, DO SOMETHING!

If you can Demonstrate, please report to the Occupy location of your choice:

http://occupytogether.org

If you can Donate, go here to help keep the Kleptocracy Chronicles coming:

https://www.wepay.com/donate/ironboltbruce

If you can Distribute, forward this email to your contacts then Share this:

http://kleptocracychronicles.com

###

SHOW ME WHAT KLEPTOCRACY LOOKS LIKE! THIS IS WHAT KLEPTOCRACY LOOKS LIKE!

Kleptocracy [klep-TOK-ruh-see]: A government or state in which those in power exploit national resources and steal; rule by a thief or thieves. See also the United States of America where, as Goethe said, “None are more hopelessly enslaved than those who falsely believe they are free.” Want documented examples of the corporate greed that corrupts our government and fuels the Revolution? Find dozens here, with more to come:

http://corporategreedchronicles.com

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IT IS NO COINCIDENCE THAT OF THE LAST 14 U.S. PRESIDENTS, 7 HAVE BEEN DEMOCRATS AND 7 HAVE BEEN REPUBLICANS.

Our Kleptocracy-controlled media focuses on America’s two-year election cycles as if who wins or loses in the swinging of the pendulum was a matter of life or death, when in fact even at the Presidential level it makes no more difference than the outcomes of Monday Night Football, American Idol, Dancing With The Stars, Hillbilly Handfishing or the trial of Michael Jackson’s doctor. U.S. elections are staged primarily to give Sheeple the illusion of control so they will (a) vent their frustrations and expend their energy, emotions and resources supporting or attacking the Puppet on the Left hand or the Puppet on the Right, and consequently (b) never recognize and challenge the common omnipotent Puppetmaster.

http://corporatecriminalsexposed.com

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I AM NOT ANONYMOUS. I AM AN AMERICAN.

I am not just a Consumer. I am a Citizen. I will no longer be labeled Left or Right, Liberal or Conservative, Demopublican or Republocrat, and I will no longer follow the bought and paid for political Puppets who exploit those labels. I am the People, and I am coming for the Puppetmasters. I am part of the 99 Percent, and here are my demands:

1. End the Fed.
2. Reverse Citizens United.
3. Repeal PATRIOT Act.
4. Expose 9/11 Truth.
5. End Profit Wars.
6. Refund Taxpayer Trillions.
7. Imprison the Kleptocrats.
8. Single Term Limits.

Or, if these demands are not addressed promptly:

1. Regime Change.

http://ironboltbruce.com

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POLITICAL LABELS

“Democrat”, “Republican”, the parties of the system;
Puppets both, for sale their votes, no character or wisdom.

“Liberal”, “Conservative”, for change or status quo?
Pick either one, the change is none, all charlatans and whores.

Far “Left” we place the Anarchists, Libertarians claim far “Right”;
Yet both decry the government: False continuum brought to light.

For oil, “We” bomb their mud huts, strip them bare, then offer “Aid”;
And fake their retribution as pretext – a false flag raised.

Unarmed hundred thousands killed by weapons of “Defense”;
While rights are lost for “Freedom” sake – on profit, all depends.

With stroke of pen, the “Patriot” Act, and patriots’ gifts are taken;
Then “Citizens United” leaves our citizens forsaken.

We protest loss of liberties, put “World Wide Web” to use;
Cloudmark Authority censors us for “messaging abuse”.

They label us to finger-point. With labels, “They” deride us.
Their labels keep us all at bay. For with labels, “They” divide us.

http://ldrlongdistancerider.com

Occupy Wall Street is One Step Away from a Fourth Reich Gulag: Then Who Goes Next? (g1a2d0083c1)

OCCUPY WALL STREET IS ONE STEP AWAY FROM A FOURTH REICH GULAG: THEN WHO GOES NEXT?
Global Revolution 1: American Revolution 2: Day 83: Communication 1
IronBoltBruce’s Kleptocracy Chronicles for 8 Dec 2011 (g1a2d0083c1)
Will you go quietly like the Jews, or make a stand against Fascism?

Section 1031 of the National Defense Authorization Act (S.1867/H.R.1540) as currently worded (see text below) authorizes the President to use Military Force to detain indefinitely and without trial persons who engage in belligerent acts or are part of or support forces engaged in “hostilities against the United States or its coalition partners”:

http://tinyurl.com/c4w2wdh

We are told this provision targets terrorists, so “forces” must include “terrorist groups”. Police in the City of London, England have officially labelled Occupy London as a terrorist organization:

http://tinyurl.com/7akc9pt

The Occupy Wall Sreet movement in the United States is “associated” with the Occupy London movement in the United Kingdom, and the UK is a US “coalition partner”, so…

CONNECT THE DOTS, PEOPLE.

The National Defense Authorization Act (NDAA) has already been passed by the House (322-96) and the Senate (93-7). Here you will find the names of the Traitors who supported it, and the Patriots who opposed it:

http://tinyurl.com/3mh3ke7

http://tinyurl.com/7v6zlq3

All that remains is for Bushbama to sign this bill, and the United States of America officially becomes a Corporate Fascist Police State, which it practically already is:

http://amerikanreich.com/sar-list/

As it stands now, both the protesters and supporters of Occupy Wall Street are one step away from being rounded up and shipped to some Fourth Reich Gulag – maybe in the Texas Panhandle, or Hardin Montana. The only remaining question is:

WHO WILL GO NEXT?

Related Image:

http://ldrlongdistancerider.com/images/Occupy_Hardin_Montana.jpg

Related Video:

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SEC. 1031. AFFIRMATION OF AUTHORITY OF THE ARMED FORCES OF THE UNITED STATES TO DETAIN COVERED PERSONS PURSUANT TO THE AUTHORIZATION FOR USE OF MILITARY FORCE.

(a) In General- Congress affirms that the authority of the President to use all necessary and appropriate force pursuant to the Authorization for Use of Military Force (Public Law 107-40) includes the authority for the Armed Forces of the United States to detain covered persons (as defined in subsection (b)) pending disposition under the law of war.

(b) Covered Persons- A covered person under this section is any person as follows:

(1) A person who planned, authorized, committed, or aided the terrorist attacks that occurred on September 11, 2001, or harbored those responsible for those attacks.

(2) A person who was a part of or substantially supported al-Qaeda, the Taliban, or associated forces that are engaged in hostilities against the United States or its coalition partners, including any person who has committed a belligerent act or has directly supported such hostilities in aid of such enemy forces.

(c) Disposition Under Law of War- The disposition of a person under the law of war as described in subsection (a) may include the following:

(1) Detention under the law of war without trial until the end of the hostilities authorized by the Authorization for Use of Military Force.

(2) Trial under chapter 47A of title 10, United States Code (as amended by the Military Commissions Act of 2009 (title XVIII of Public Law 111-84)).

(3) Transfer for trial by an alternative court or competent tribunal having lawful jurisdiction.

(4) Transfer to the custody or control of the person’s country of origin, any other foreign country, or any other foreign entity.

(d) Construction- Nothing in this section is intended to limit or expand the authority of the President or the scope of the Authorization for Use of Military Force.

(e) Authorities- Nothing in this section shall be construed to affect existing law or authorities, relating to the detention of United States citizens, lawful resident aliens of the United States or any other persons who are captured or arrested in the United States.

(f) Requirement for Briefings of Congress- The Secretary of Defense shall regularly brief Congress regarding the application of the authority described in this section, including the organizations, entities, and individuals considered to be ‘covered persons’ for purposes of subsection (b)(2).

http://tinyurl.com/c4w2wdh

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DEMONSTRATE, DONATE OR DISTRIBUTE, BUT PLEASE, DO SOMETHING!

If you can Demonstrate, please report to the Occupy location of your choice:

http://occupytogether.org

If you can Donate, go here to help keep the Kleptocracy Chronicles coming:

https://www.wepay.com/donate/ironboltbruce

If you can Distribute, forward this email to your contacts then Share this:

http://kleptocracychronicles.com

###

SHOW ME WHAT KLEPTOCRACY LOOKS LIKE! THIS IS WHAT KLEPTOCRACY LOOKS LIKE!

Kleptocracy [klep-TOK-ruh-see]: A government or state in which those in power exploit national resources and steal; rule by a thief or thieves. See also the United States of America where, as Goethe said, “None are more hopelessly enslaved than those who falsely believe they are free.” Want documented examples of the corporate greed that corrupts our government and fuels the Revolution? Find dozens here, with more to come:

http://corporategreedchronicles.com

###

IT IS NO COINCIDENCE THAT OF THE LAST 14 U.S. PRESIDENTS, 7 HAVE BEEN DEMOCRATS AND 7 HAVE BEEN REPUBLICANS.

Our Kleptocracy-controlled media focuses on America’s two-year election cycles as if who wins or loses in the swinging of the pendulum was a matter of life or death, when in fact even at the Presidential level it makes no more difference than the outcomes of Monday Night Football, American Idol, Dancing With The Stars, Hillbilly Handfishing or the trial of Michael Jackson’s doctor. U.S. elections are staged primarily to give Sheeple the illusion of control so they will (a) vent their frustrations and expend their energy, emotions and resources supporting or attacking the Puppet on the Left hand or the Puppet on the Right, and consequently (b) never recognize and challenge the common omnipotent Puppetmaster.

There was no real change in 2008. There was no real change in 2010. There WILL be real change in 2012, but it won’t be coming from tele-brainwashed couch potatoes, manipulated voter lists, rigged voting machines or predetermined ballot counts. It will be coming from us…

The 99 Percent

http://corporatecriminalsexposed.com

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I AM NOT ANONYMOUS. I AM AN AMERICAN.

I am not just a Consumer. I am a Citizen. I will no longer be labeled Left or Right, Liberal or Conservative, Demopublican or Republocrat, and I will no longer follow the bought and paid for political Puppets who exploit those labels. I am the People, and I am coming for the Puppetmasters. I am part of the 99 Percent, and here are my demands:

1. End the Fed.
2. Reverse Citizens United.
3. Repeal PATRIOT Act.
4. Expose 9/11 Truth.
5. End Profit Wars.
6. Refund Taxpayer Trillions.
7. Imprison the Kleptocrats.
8. Single Term Limits.

Or, if these demands are not addressed promptly:

1. Regime Change.

http://ironboltbruce.com

###

POLITICAL LABELS

“Democrat”, “Republican”, the parties of the system;
Puppets both, for sale their votes, no character or wisdom.

“Liberal”, “Conservative”, for change or status quo?
Pick either one, the change is none, all charlatans and whores.

Far “Left” we place the Anarchists, Libertarians claim far “Right”;
Yet both decry the government: False continuum brought to light.

For oil, “We” bomb their mud huts, strip them bare, then offer “Aid”;
And fake their retribution as pretext – a false flag raised.

Unarmed hundred thousands killed by weapons of “Defense”;
While rights are lost for “Freedom” sake – on profit, all depends.

With stroke of pen, the “Patriot” Act, and patriots’ gifts are taken;
Then “Citizens United” leaves our citizens forsaken.

We protest loss of liberties, put “World Wide Web” to use;
Cloudmark Authority censors us for “messaging abuse”.

They label us to finger-point. With labels, “They” deride us.
Their labels keep us all at bay. For with labels, “They” divide us.

http://ldrlongdistancerider.com