Contents

RESEARCH ON YOUR OWN

A better life means living with less stress.

What are You Worth? Benchmark Your Salary Now!

 

K12 Social Studies - Reading Like a Hisotrian Project see - U.S. Hisotry Sourcebook Basic.pdf

The curriculum was piloted in four San Francisco classrooms during the 2008-2009 school year, and post-tests showed statistically
significant gains in both historical reasoning and general reading ability. A short promotional video, which includes interviews with students participating in the San Francisco pilot, is available at http://www.youtube.com/watch?v=wWz08mVUIt8. Classroom-tested lesson plans for most of the documents in this book are available at http://sheg.stanford.edu, although there may be minor divergences between the sourcebook and lessons. The website also contains document sets extending from 1923 to the present that are not currently included in the sourcebook.

 

Reporters

 

EWA Reporter Guides - 
"How To" documents on best practices for education journalists.

Standards & Ethics for Education Reporters:
This guide lays out the basic standards education journalists should strive to follow regardless of their particular specialties or areas of expertise.   It draws on the comprehensive work of Oregonian reporter Bill Graves, who wrote the Education Writers Association’s first set of standards 11 years ago. But it has been updated to reflect the transformation of the industry, including the rapid growth in online journalism and social media; it has also been revised to incorporate changes on the beat, such as the rise of charter schools and online education, as well as shifts in federal education policy. The recommendations presented here should be viewed as guidelines, not rules. Download Copy

We hope no one actually will ever need this, but the Library of Congress offers the   Foreclosure Defense: A Beginner’s Guide

 

 BANKER + GANGSTER  =  BANKSTER a word popularized in the 1930's by Ferdinand Pecora.

How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War Paperback by Stephen Lendman

BANKER OCCUPATION: Waging Financial War on Humanity,by Stephen Lendman

Big banks have manipulated virtually every market – both in the financial sector and the real economy – and broken virtually every law on the books. http://www.ritholtz.com/

Old American Newspapers

The World's Historical Newspaper Archives

Contact Senator Elizabeth Warren
Boston Phone: (617) 565-3170
Springfield Phone: (413) 788-2690
Washington Phone: (202) 224-4543

Financial Literacy Certification Test

Ronald Reagan cut income taxes on the 1% from 70% down to 27%. Corporate tax rates were cut so severely that they went from representing over 33% of total federal tax receipts in 1951 to less than 9% in 1983 (they're still in that neighborhood, the lowest in the industrialized world).The result was devastating.

Best Practices in Financial Literacy

 

K-16 Financial Literacy Educators Best Practices

National Financial Educators Council
 

The NFEC offers financial literacy curriculum solutions for all age groups:  pre-kindergarten, grade school, middle school, high school, college, adult, and senior education.  All our financial literacy lesson plans include instructors’ guides, student guides, turnkey presentations, support material, and educator training.

The National Financial Literacy Standards developed by the National Financial Educators Council are practical in nature yet align with educational standards.

Download the NFECs' Financial Literacy Standards
The NFECs Financial Literacy Standards were developed to help individuals achieve a state of financial capability and provide clear steps so they implement the learned money management lessons in the 'real world'. Through collaborative efforts from the NFEC's team of educators, financial professional and community leaders, these financial education standards represent the best practices in the industry. Click here if you would like to join the Curriculum Advisory Board

 

Free Financial Literacy Curricula from the Government

2013 Consumer Action Handbook Use the Consumer Action Handbook (CAH)
to get help with consumer purchases, problems and complaints PDF and in Spanish Curriki.org
for K - 12 Lesson Plans Download an Expense Diary PDF Budget Worksheet PDF

The national Financial Planning Association also offers education resources and its numerous local chapters.

Non-profit Jumpstart Coalition for Personal Financial Literacy; offers a national and state-level perspective and experts

 

FDIC MONEY SMART - A Financial Education Program

  • Federal Student Aid for Adult Students 2011
  • Hands on Banking: Adults Instructor Guide 2010
  • FDIC Money Smart-A Financial Education Program
    Author: Federal Deposit Insurance Corporation (FDIC) Updated 4/27/09
    There is a special form of Money Smart for youth ages 12-20 that contains eight modules.
    The FDIC (Federal Deposit Insurance Corporation) has developed Money Smart to help adults outside the financial mainstream enhance their money skills and create positive banking relationships. Money Smart curriculum is available free in CD form (ordering information on website) or directly online in a computer-based version. The instructor-led version is available in English, Chinese, Hmong, Korean, Vietnamese, Russian, and Spanish. The online version is in English and Spanish.

The ten modules each take 1-2 hours of classroom time to teach. The topics covered are:

  1. Bank on It (Introduction to bank services)
  2. Borrowing Basics (introduction to credit)
  3. Check it Out (Choose and keep a checking account)
  4. Money Matters (How to keep track of your money)
  5. Pay Yourself First (Why you should save)
  6. Keep it Safe (Your rights as a consumer)
  7. To Your Credit (Your credit history)
  8. Charge it Right (How to make a credit card work for you)
  9. Loan to Own (Know what you are borrowing before you buy)
  10. Your Own Home (What home ownership is all about)

 

Free From the Banks

 

From Visa and the Federal Reserve Bank of Chicago Charles Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago.
 

Teach Your 9–12 Graders Personal Finance

Auditing Firm PricewaterhouseCoopers LLP [PwC] who played a big part in the bank and investment firm failures in the crash. PwC audited AIOG and Freddie Mac.  They gave No real warning that AIG was in serious financial trouble. The Real Auditors How many big things did they miss or pretend not to see? Either the Fed was a chump, taken by the financiers, or a crony, and was fully aware that it was not just rescuing AIG, but doing so in an overly generous way so as to assist financial firms in a way it hoped would not be widely noticed or understood.

PwC's Earn Your Future Financial Literacy Curriculum
The curriculum is composed of easy to follow lesson plans, accompanied by interactive handouts and dynamic multimedia components. The modules span grades 3-12 and may be downloaded using the links

Saving for College

 

Bureau of Labor Statistics: The Editor's Desk http://www.bls.gov/opub/ted/
Recent Articles area contains links to pieces on job openings, payroll employment, and large technology firms. Additionally, the site contains an On Interest area which features statistical overviews of major trends in employment, health care, and collective bargaining.

According to Sallie Mae’s “How America Saves for College 2013” study, only 50 percent of American families are saving for college, and those who are are not saving enough. Sallie Mae offers five steps to help families meet their savings goals:

Step 1: Estimate the cost of college. Use tools such as Sallie Mae’s Education investment Planner to forecast future costs at over 5,500 colleges and universities.

Step 2: Save for college.

Sallie Mae 529 Plan Sallie Mae High-Yield Savings Account

Step 3: Use a dedicated savings account. With a 529 college savings plan contributions grow tax deferred, and earnings on withdrawals; when used for qualified higher education expenses such as tuition, certain room and board costs, books and mandatory fees; are federally tax free.* For those who prefer a more conservative investment strategy, a Sallie Mae High-Yield Savings Account features rates 10 times the national average and the ability to earn a 10 percent match on annual Upromise earnings, a total of $175,000 extra savings in 2012.

Step 4: Put savings on cruise control. Set up an automated savings plan. Contributing as little as $25 per month to your account will add up over time.

Step 5: Do periodic check-ups. Review your college savings strategy on a regular basis, or whenever a major financial or family change occurs.

* Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10 percent federal tax penalty, as well as state and local income taxes. The availability of tax and other benefits may be contingent on meeting other requirements.

Before investing in any 529 plan, you should consider whether your or the designated beneficiary's home state offers a 529 plan that provides its taxpayers with state tax and other benefits that are only available through the home state's 529 plan. Investment objectives, risks, charges, expenses, and other important information are included in a 529 college savings plan's offering statement; read and consider it carefully before investing.

When you invest in a 529 college savings plan you are purchasing municipal securities whose value will vary with market conditions. Investment returns are not guaranteed, and you could lose money by investing in a 529 college savings plan. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.

Internal Revenue Service’s Publication 17 - it’s
This is the annual tax filing guide for consumers and aside from roundups of tax law changes, a thorough read can produce stories from quirky or little-known tax law. A loss due to theft or being victim of a Ponzi scheme may well be a write-off.

 

The Financial Services Roundtable

The mission of The Financial Services Roundtable is to protect and promote the economic vitality and integrity of its members and the United States financial system.
1001 Pennsylvania Avenue, NW
Suite 500 South
Washington, D.C. 20004
[p] 202.289.4322 [f]202.628.2507 info@fsround.org

Former Governor Tim Pawlenty born Nov. 27, 1960 of Minnesota began a movement for the 2012 Republican Party nomination for President of the United States. His appointment comes at a crucial moment for Wall Street, which is battling a regulatory overhaul in the wake of the financial crisis. Under the Dodd-Frank act, regulators are writing more than 300 new rules for banks and other financial firms.
The deep-pocketed roundtable, which represents 100 of the nation’s largest financial institutions, is looked to as a source of influence on the law. The group also helped spearhead several past deregulation efforts, including the repeal of some Glass-Steagall restrictions on banks owning insurance companies.

Round Table Qualifying Financial Education Courses

John Carlson BITS, Executive Vice President john.carlson@fsround.org outsourcing issues and successful strategies to assure the security and privacy of third-party services.

Program Information/Materials For more information, contact Jim Pitts, Jim@fsround.org

 

[ SEE BIG DATA ]

Big Data, privacy and data sharing
Note: identity theft and rebuilding credit is an issue.

PLAYERS WHO GET AND SELL STUDENT DATA

EverFi, Jump$tart Coalition, Junior Achievement USA, National Endowment for Financial Education (NEFE), NeighborWorks America, Operation HOPE, Rebuilding Together, SER - Jobs for Progress, Inc., Society for Financial Education and Professional Development, Women in Housing and Finance Foundation, Women's Institute for a Secure Retirement (WISER), and Working in Support of Education (w!se).

Note: EverFi inBloom - TERMS OF USE 

EXAMPLE:Farmington High School students dedicated more than 60 hours last year to the EverFi – Financial Literacy™ learning course. First State Community Bank has granted students access to this web-based, consumer-education aligned program since January of 2013. Financial literacy courses offered as part of a high school curriculum (and shown on a transcript), or courses offered by ...

Steve Bartlett, a former Congressman who earned about $2 million a year as the roundtable’s chief executive in 1999, represented 100 of the nation’s largest financial institutions, deriding a proposal aimed at limiting the fees that banks charge retail stores on debit-card purchases. Though little known outside Washington and Wall Street, Mr. Bartlett has played a pivotal role with other lobbyists in their fierce and frenetic behind-the-scenes effort that has successfully delayed or watered down many of the major regulatory changes passed by Congress in the aftermath of the financial meltdown.
Mr. Bartlett’s organization, the deep-pocketed Financial Services Roundtable, itself spent $2.5 million in that period, more than any organization focused primarily on the Dodd-Frank regulatory overhaul law, including Goldman Sachs and JPMorgan Chase. Mr. Bartlett’s group and other lobbying firms also pressed regulators to put off new derivatives regulations for up to six months, after the Treasury Department moved to excuse some of the complex securities from oversight altogether. Bartlett washired in part to “secure passage” of the Gramm-Leach-Bliley Act, which repealed some of the Glass-Steagall restrictions on banks set after the Great Depression. The law, signed in 1999, allowed investment banks and commercial banks to merge, creating the Wall Street powerhouses that eventually proved too big to fail during the crisis.

Mr. Bartlett focused on the Consumer Financial Protection Bureau and getting rid of Elizabeth Warren. warren bank hearing Warren questioned top regulators from the alphabet soup that is the nation's financial regulatory structure: the FDIC, SEC, OCC, CFPB, CFTC, Fed and Treasury.
The financial regulators can blame, at least in part, Wall Street lobbyists (along with outgoing Treasury Secretary Tim Geithner and Senate Republicans) for their embarrassing turn at the hearing. Warren would have been on the panel herself representing the Consumer Financial Protection Bureau, instead of a sitting senator, if her nomination to head the agency hadn't been thwarted in 2011

Consumer Financial Services Group

 

 

Project Student Debt
Two-thirds of college seniors who graduated in 2011 had student loan debt, with an average of $26,600 per borrower. Meanwhile, unemployment for young college graduates remained high at 8.8 percent in 2011. Our new report, Student Debt and the Class of 2011, includes average debt levels for the 50 states and District of Columbia and for more than 1,000 U.S. colleges and universities.

Federal Student Loan Amounts and Terms for Loans Issued in 2012-13

Systemic issues in the student loan servicing market ~ Student Loan Report PDF

Most of the student loan market consists of federal student loans, which allow most borrowers to avoid default through the income-based repayment options in times of hardship. But private student loans – a market which boomed in the years leading up to the financial crisis – generally don’t.
Product Verticals, and ordinary market forces may not apply in loan servicing. The servicer’s customer is often a lender or group of investors— not the actual borrower. Since it is inordinately difficult to refinance, borrowers cannot easily take their business elsewhere. Since borrowers have generally been unable to obtain loan modifications of private student loans, one way they might be able to better meet the obligations of their private student loan debt is to reduce their payments on the federal student loans through Income-Based Repayment (IBR)
Outstanding student loan debt is now over $1 trillion, with private student loans accounting for more than $150 billion. There are at least $8 billion of private student loans in default, representing more than 850,000 individual loans. Private student loans are issued by banks and credit unions, state-affiliated and non-profit agencies, schools, and other financial companies. Like in the mortgage market, creditors often employ third-party servicers to collect payments from private student loan borrowers. Many of these servicers are also active in the federal student loan market. In less than seven months, the CFPB has handled approximately 2,900 private student loan complaints. For complaints where companies report monetary relief, the median amount of relief reported was $1,572. The vast majority of the complaints were related to loan servicing and loan modification issues. Eighty-seven percent of all student loan complaints were directed at just seven companies. This is not surprising, given that the private student lending and servicing markets are highly concentrated. The Fair Debt Collection Practices Act (FDCPA) requires third-party debt collectors to cease attempts to collect a debt by phone if notified in writing by a borrower to halt collection calls. This does not change the borrowers’ obligation to repay, but guarantees that the borrower will no longer receive collection calls.

  • CFPB Issues Final Debt Collection Larger Participant Rule and Examination Procedures by the Consumer Financial Services Group In some cases, the CFPB may be unable to supervise certain nonbank student loan servicers without first defining
    “larger participants” in the market subject to Section 1024 of the Dodd-Frank Act. Direct Loan borrowers will be able to electronically import their tax data into their IBR applications, reducing the need for manual submissions and data entry.
  • Bureau of Consumer Financial Protection Debt Collection Final rule PDF
  • Barbara Thompson, the Pentagon’s director of the office of family policy/children and youth. The results of a 2012 survey by the Consumer Federation of America, just 49% of working Americans have sufficient retirement savings to provide for a “desirable standard of living.” Just over a third of low- and moderate-income households had savings or money market accounts. Military OneSource

TO REACH THE CFPB’S OFFICE FOR STUDENTS OR OFFICE OF INSTALLMENT & LIQUIDITY LENDING:
Email: students@cfpb.gov
Consumer Financial Protection Bureau FILE A COMPLAINT
1700 G Street NW
Washington, DC 20552
(855) 411-CFPB (2372)
Español : (855) 411-CFPB (2372)
TTY/TDD: (855) 729-CFPB (2372)
Fax: (855) 237-2392

Free Publications for Financial Literacy

 

RESOURCES

  1. Shadow Banking System Report by the Federal Reserve Bank 2010
    The rapid growth of the market-based financial system since the mid-1980s changed the nature of financial intermediation in the United States profoundly. Within the market-based financial system, “shadow banks” are particularly important institutions.
  2. England Official Secrets PDF -- Text of statute as originally enacted
  3. Proof that the United States of America Inc. is NOT a Corporation. PDF
  4. READ [Public—No. 43—63d Congress.] [H. R. 7837.] PDF
    An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes. Be it enacted by the. Senate and House of Representatives of the United States of America in Congress assembled, That the short title of this Act shall be the "Federal Reserve Act."
  5. 10/19/11 Federal Reserve Bank Governance: Opportunities Exist to Broaden Director Recruitment Efforts and Increase Transparency GAO-12-18 Highlights Page (PDF)   Full Report (PDF, 127 pages)
  6. 10/20/11 We recently obtained the report through a Freedom of Information Act Request. You can read the report called "Life After Debt" PDF. It was written in the year 2000, when the U.S. was running a budget surplus, taking in more than it was spending every year. Economists were projecting that the entire national debt could be paid off by 2012. This was seen in many ways as good thing. But it also posed risks.
    https://www.npr.org/blogs/money/2011/10/21/141510617/what-if-we-paid-off-the-debt-the-secret-government-report
  7. FEDERAL RESERVE SYSTEM - Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance
  8. How deep does the corruption go? To Sanders, the conclusion is simple.
    "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed," he said. The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo. The same firms also received trillions of dollars in Fed loans at near-zero interest rates. Altogether some two-thirds of the contracts that the Fed awarded to manage its emergency lending programs were no-bid contracts. Morgan Stanley was given the largest no-bid contract worth $108.4 million to help manage the Fed bailout of AIG.
    GAO Fed Investigation July 21, 2011
    The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
    Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said. The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse.  In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans. Report
    What was revealed in the audit was startling: $16,000,000,000,000.00 (TRILLION) had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.
    To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is only $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is only $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.
    In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.
  9. Patman senses a widespread feeling that the whole Federal Reserve needs an overhaul, and he is confident of bucking through at least a few of his proposals. Much will depend upon whether his fellow Texan in the White House decides to press hard for the changes. Lyndon Johnson shares Patman's Populist dislike of tight credit, and is not as close to Bill Martin as John Kennedy was. The tip-off as to where he stands in the fight may come when he selects a man to fill a current vacancy on the Federal Reserve Board. The President's decision is long overdue, and so far he has not told even Bill Martin what kind of a man he will pick. 1957 /1958
  10. pg. 92 Federal Reserve System Personnel who are directors and officers of major Financial Companies Philadelphia / more2005 Merger and Acquisition History at JP Morgan Chase, Bank of America, and HSBC
    The dramatic effect of industry consolidation among the largest banks in the world Table 1 lists the top 20 U.S. banks in 1995 and 2005. Although only 10 years have transpired in this analysis, the fact that 55%, or 11, of the former top 20 U.S. banks have been acquired is quite remarkable.
  11. The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and between The ShoreBank Corporation, Chicago, Illinois, a registered bank holding company, and the Federal Reserve Bank of Chicago. A copy of the Written Agreement is attached. (275 KB PDF)
  12. Offshore Voluntary Disclosure: Comparative Analysis, Guidance and Policy Advice [pdf]. Definition of An Offshore Financial Center (OFC), though not precisely defined, is usually a small, low-tax jurisdiction specializing in providing corporate and commercial services to non-resident offshore companies, and for the investment of offshore funds.

Swiss banks manage 27 percent of the $7.3 trillion in offshore global assets, the biggest market share ahead of the U.K.'s Channel Islands with 24 percent and Luxembourg with 14 percent, according to the bankers association.

  1. Swiss banks manage 27 percent of the $7.3 trillion in offshore global assets, the biggest market share ahead of the U.K.'s Channel Islands with 24 percent and Luxembourg with 14 percent, according to the bankers association. Julius Baer Investors or Julius Baer Investment Management (JBIM) , Julius Baer Bank & Trust Company (JBBT), Caymans, Baer Select Management, JBIM New York and JBIM London to benefit from the offshore system” to escape tax.
  2. 2002 Zurich-based Julius Baer Holding AG and Vontobel Holding AG, which cater to millionaires, owe 8% to 13% of their market value to the banking secrecy law, according to a 2005 study sponsored by the University of Zurich and the Swiss National Science Foundation.
  3. Mapping Financial Secrecy Secrecy jurisdictions facilitate illicit financial flows.
  4. “Where to Stash your Cash LEGALLY” by Robert E. Bauman JD
  5. Tax Day How to Pay No Taxes: 10 Strategies Used by the Rich April 17, 2012 If you have lots of money, Tuesday, April 17, was one of the best tax days since the early 1930s: Top tax rates on ordinary income, dividends, estates, and gifts remain at or near historically low levels. That’s thanks, in part, to legislation passed in December 2010 by the 111th Congress and signed by President Barack Obama. Starting next January, rates may be headed higher.
  6. TAX HAVEN BANKS AND U. S. TAX COMPLIANCE
  7. 30 Companies pay less than 0 income taxes.
    I pay more federal income taxes than General Electric, Boeing, DuPont, Wells Fargo, Verizon, etc., etc., all put together.
  8. 2005 Merger and Acquisition History at JP Morgan Chase, Bank of America, and HSBC The dramatic effect of industry consolidation among the largest banks in the world Table 1 lists the top 20 U.S. banks in 1995 and 2005.
  9. Jeffrey Owens, Director of the OECD Centre for Tax Policy and Administration. Offshore Voluntary Disclosure: Comparative Analysis, Guidance and Policy Advice [pdf].
  10. 2002 Zurich-based Julius Baer Holding AG and Vontobel Holding AG, which cater to millionaires, owe 8% to 13% of their market value to the banking secrecy law, according to a 2005 study sponsored by the University of Zurich and the Swiss National Science Foundation.
  11. The Bribery Act 2010: Implications for offshore jurisdictions
  12. Offshore Secrets BVI Microstate is now the world's biggest provider of offshore entities.
  13. The British Virgin Islands, 2013 the world's leading offshore haven used by an array of government officials and rich families to hide their wealth. The Caribbean micro-state has incorporated more than a million such offshore entities since it began marketing itself worldwide in the 1980s. Owners' true identities are never revealed. Even the island's official financial regulators normally have no idea who is behind them. The British Foreign Office depends on the BVI's company licensing revenue to subsidise this residual outpost of empire, while lawyers and accountants in the City of London benefit from a lucrative trade as intermediaries.Britons, government officials, rich families across the world are identified, from Canada, the US, India, Pakistan, Indonesia, Iran, China, Thailand and former communist states all hiding wealth offshore in the BVI. More than $20tn acquired by wealthy individuals could lie in offshore accounts. The UK-controlled BVI has been the most successful among the mushrooming secrecy havens that cater for them.The names have been unearthed in a novel project by the Washington-based International Consortium of Investigative Journalists [ICIJ], in collaboration with the Guardian and other international media, who are jointly publishing their research. The whistleblowing group WikiLeaks caused a storm of controversy in 2010 when it was able to download almost two gigabytes of leaked US military and diplomatic files. The new BVI data, by contrast, contains more than 200 gigabytes, covering more than a decade of financial information about the global transactions of BVI private incorporation agencies. It also includes data on their offshoots in Singapore, Hong Kong and the Cook Islands in the Pacific.
  14. Virgin Islands Trusts Volume II, Money Laundering and Financial Crimes, March 2011 -- British Virgin Islands pg. 70 As of September 2010
  15. While gaming is prohibited in the Virgin Islands, casinos have been incorporated in the definition of relevant business under the AML/CFT regime. BVI is a member of the Caribbean Financial Action Task Force, (CFATF), a Financial Action Task Force-style regional body.Researchers discovered that 95 percent of the credit card transactions for the spam-advertised drugs and herbal remedies they bought were handled by three financial companies — based in Azerbaijan, Denmark and Nevis West Indies. The full paper is available here (PDF). 15% of all Glavmed purchases (approximately $10.7 million in rogue pill buys) were made with cards issued by Bank of America.

HISTORIC RESOURCES

 

  1. The Bank for International Settlements, 1930-1945
    The Bank for International Settlements (BIS) was established as an international financial institution, enjoying special immunities, pursuant to the Hague Agreements of 20th January 1930. The founder shareholding members were the central banks of Belgium, France, Germany, Italy, Japan, the United Kingdom and the United States (the Federal Reserve did not take up its rights as founder member until 1994). Within two years of its founding, nineteen other European central banks had subscribed to the Bank's capital. The Bank opened its doors in Basle, Switzerland on 17th May 1930.
  2. From the Boston Federal Reserve Bank: and The Aldrich plan received scant public support and aroused strong opposition. Many progressives protested that the Aldrich plan would not provide for adequate public control of the banking system, that it would enhance the power of the larger banks and the influence of Wall Street; and that its currency reform provisions would be dangerously inflationary. "Big financiers are back of the Aldrich currency scheme," William Jennings Bryan proclaimed. The Nebraska populist, a three-time Democratic presidential nominee who had based his campaign in 1896 on an attack on the bankers and the deflationary impact of the gold standard, asserted that, if the Aldrich plan were implemented, the big bankers would "then be in complete control of everything through the control of our National finances." Bryan's denunciation of the Aldrich plan was shared by many leaders of the progressive movement.They had long seen that their system was incom- patible with change — that every form, every custom was stereotyped, which, like the laws of the Medes and Persians, might not be changed ; and they saw that the introduction of western ideas necessitated change ; and change in their weak state meant revolu- tion — so in proportion as the government became weak, it resisted all change from without, and yet change was the only thing that could save them. About the Hermes Besides an account of my own personal adventures and practical experience during four years' military service and social intercourse with the Ti-pings, the following pages contain : — A complete history of the Revolution : its Christian, political, military, and social organization ; an accurate description of its extraordinary leader, Hung-sui-tshuen, and his principal chiefs ; the rise, progress, and present circumstances of the movement, together with its bearing and influence as well upon the welfare of the 360 million inhabitants of China, as on the general interests of Great Britain; with a thorough review of the policy of the British Government towards China ; including the intervention with and hostilities against the Ti-ping patriots, who, by accepting Christianity and abandoning idolatry, revolted against the Manchoo-Tartar Government.
  3. Some Recollections by Captain Charles Porter Low who took charge of the clipper shipe N.B. Palmer 1851 His brother was Edward Low. A.A. Low and Bro's gave the Samuel Russell over to Captain Limeburner Captain Baldwin commands a steamer "Brother Jonathan C. Adolphe Low is his cousin cousin.
  4. Jardine Matheson is one of the oldest names in East Asia, and Jardine Matheson Holdings Limited is the parent company for the Jardine Matheson Group, an international array of diverse companies with operations mainly in Asia, centered around Hong Kong and China. Of Scottish/British origin, Jardine Matheson played a key, and rather dubious, role in the founding of Hong Kong, where the group was headquartered until 1984, when it relocated to Bermuda in anticipation of the July 1997 transfer of control of Hong Kong to China. Controlled through a complicated set of minority holdings by the Keswick family (descendants of cofounder William Jardine), the group is headed by Jardine Matheson Holdings, owner of an 80 percent stake in the publicly traded, Bermuda-incorporated Jardine Strategic Holdings Limited. The latter, in turn, owns 53 percent of Jardine Matheson Holdings. This cross-shareholding structure was adopted in 1986 to thwart hostile takeovers.
  5. DISPOSSESSION AND PROPERTY IN EMPIRE
    The shift from granting monopolies to the aristocracy through nepotism or preference to granting monopolies to individuals on the basis of originality and contribution to industry laid the groundwork for the contemporary global intellectual property regime.
  6. In 1966, Quigley published a one-volume history of the twentieth century entitled Tragedy and Hope.
    At several points in this book, the history of the Milner group is discussed. Moreover, Quigley states that he has recently been in direct contact with this organization, whose nature he contrasts to certain right-wing conspiracy theories:
    This radical Right fairy tale, which is now an accepted folk myth in many groups in America, pictured the recent history of the United States, in regard to domestic reform and in foreign affairs, as a well-organized plot by extreme Left-wing elements.... This myth, like all fables, does in fact have a modicum of truth. There does exist, and has existed for a generation, an international Anglophile network which operates, to some extent, in the way the Radical right believes the Communists act. In fact, this network, which we may identify as the Round Table Groups, has no aversion to cooperating with the Communists, or any other group, and frequently does so. I know of the operation of this network because I have studied it for twenty years and was permitted for two years, in the early 1960's, to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments. I have objected, both in the past and recently, to a few of its policies... but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.
    Secret societies are briefly discussed in [TRAGEDY AND HOPE] pg. 62 and 63 missing including a consortium of the leaders of the central banks of several countries, who formed the Bank for International Settlements:

YALE

 

  1. Walter Lippmann Papers (MS 326). Manuscripts and Archives, Yale University Library.Appointed assistant to Newton D. Baker, Secretary of War. Served on the Cantonment Adjustment Commission with Franklin Delano Roosevelt, Assistant Secretary of the Navy.
  2. Samuel Wadsworth Russell House / US National Park Service (pdf, 25pp)
  3. Biographical Sketches of the Graduates of Yale 1763-1778 / Internet Archive (pdf, 740 pp)
  4. Obituary Record of Yale Graduates 1922-1923 / Yale University Library (pdf, 385 pp)
  5. Obituary Record of Yale Graduates 1926-1927 / Yale University Library (pdf, 346 pp
  6. Yale Obituary Record 1927-1928 / Yale University Library (pdf, 366 pp)
  7. Obituary Record of Graduates of Yale University 1928-1929 / Yale University Library (pdf, 394 pp)
  8. Yale Obituary Record 1929-1930 / Yale University Library (pdf, 398 pp)
  9. Obituary Record of Graduates of Yale, 1930-1931 / Yale University Library (pdf 345 pp)
  10. Obituary Record of Graduates of Yale, 1931-1932 / Yale University Library (pdf, 311 pp)
  11. Obituary Record of Graduates of Yale, 1935-1936 / Yale University Library (pdf, 278 pp)
  12. Obituary Record 1936-1937 / Yale University Library (pdf, 269 pp)
  13. Yale Obituary Record, 1938-1939 / Yale University Library
  14. Obituary Record of Graduates of Yale, 1942-1943 / Yale University Library (pdf, 312 pp)
  15. Obituary Record of Graduates of Yale, 1944-1945 / Yale University Library (pdf, 442 pp)
  16. Obituary Record of Graduates of Yale, 1945-1946 / Yale University Library (pdf, 268 pp)
  17. Obituary Record of Graduates of Yale, 1946-1947 / Yale University Library (pdf, 241 pp) O.S.S. founder William J. Donovan is reported to have said, ""The door for intelligence work opened for me when I undertook my first secret mission while on my honeymoon in Japan in 1919. The United States Government asked me to take a two-month trip to Siberia to report on the anti-Bolshevik movement in the aftermath of the Russian Revolution. Well, it wasn't your usual honeymoon, but Mrs. Donovan was very understanding.
  18. Obituary Record of Graduates of Yale University, 1947-1948 / Yale University Library (pdf, 254 pp)
  19. Obituary Record of Graduates, 1949-1950 / Yale University Library (pdf, 221 pp)
  20. Every member of every Yale Secret Society 2010 41 in total. Marvel at phenomenal society names and a picture of this year's Skull and Bones class.

Americans of Royal Descent

 

  1. John Griswold House / National Park Service (pdf, 48 pp)
  2. Robert and Anne Dickey House / New York City.gov (pdf, 19pp)
  3. American Masonic Roots in British Military Lodges / Hawaiian Lodge, F. & A.M.
  4. A Trojan Horse in 19th century China? / London School of Economics (pdf, 31pp)
  5. Kingscote Coming of Age; Americans of Royal Descent. King Family of Rhode Island.
    Edward King of Newport was a partner of Russell & Co. from 1837 to 1842; William Henry King from 1843 to 1849; David King Jr. from 1866 to 1872; and Samuel W. Pomeroy Jr. was a partner since 1871. (New England Fortunes Made in China Through the House of Russell & Co. Boston Globe, Jun. 28, 1908.) "The brothers were most likely drawn East through the success of an extended family member, Charles William King, a Canton merchant for forty-five years whose father Samuel King was a senior partner in a New York commission merchant firm, King and Talbot." David King Jr. (1839-1894) was the nephew of the other two. He was a partner of Wetmore, Williams & Co. from 1858 until a position opened at Russell & Co. He married Ella Rives in 1873. Her grandfather, William Cabell Rives, was the U.S. Senator from Virginia from 1832-1845, and Minister to France both before and after his term. In 1882, they moved to Washington, D.C., and became part of the Socialite Lobby in that city. He was a crony of Sen. Nelson W. Aldrich. (Kingscote's Coming of Age. By Holly Collins. The Preservation Society of Newport County, Feb. 24, 2003.) Ella Rives was a Royal descendant of James I, King of Scotland. (Americans of royal descent. By Charles Henry Browning, 1891, p. 99.) Kingscote's Coming of Age / Newport Mansions.org The Other King Branch - Charles W. King of the house of Olyphant & Co. died on the Bentinck steamer near Aden, while returning to the U.S. from China. (Died. Boston Courier, Dec., 1845.)
  6. Catalogue of the Officers and Students of Harvard University, 1832-1833 / Nat'l Inst. for Technology and Liberal Education (pdf, 36 pp)
  7. WHY THE HARVARD CORPORATION PROTECTS THE DRUG TRADE. Part 1 Part 2 Part 3
  8. Cleveland - Perkins Family Papers / New York Public Library (pdf, 8 pp)
  9. The establishment of the independent firm of William Ropes was announced in a printed circular of March 1833. Baring Brothers and Co. of London, Goodhue & Co. of New York and Thomas W. Ward of Boston were named as its backers." They also carried cargos consigned to Peabody, Riggs & Co. [p. 128]. Ropes' son-in-law William C. Gellibrand was from St. Petersburg [p. 131]. William H. Ropes was consul from 1850 to 1854 [p. 137]. (From Sugar Triangle to Cotton Triangle, Trade and Shipping Between America and Baltic Russia, 1783-1860. By Kalevi Ahonen. University Library of Jyväskylä, 2005.)
    From Sugar Triangle to Cotton Triangle / University of Jyväskylä (pdf, 574 pp)
  10. John Robinson: Proofs of a Conspiracy 1798 Sent to George Washington: John Robison, a professor of natural philosophy at Edinburgh University in Scotland and a member of a Freemason Lodge, said that he was asked to join the Illuminati. After study, he concluded the purposes of the Illuminati were not for him. In 1798, he published a book called "Proofs Of A Conspiracy": "An association has been formed for the express purpose of rooting out all the religious establishments and overturning all the existing governments.... the leaders would rule the World with uncontrollable power, while all the rest would be employed as tools of the ambition of their unknown superiors."
  11. The Order of Skull and Bones - The Beginning History of Skull and Bones: Skull and Bones "America's Secret Establishment," by Antony C. Sutton
    Two critics of the Order, historian Antony Sutton and investigative journalist Ron Rosenbaum (himself a Yale graduate), both concluded that Skull & Bones has degenerated since its founding and has taken on more of the occult and ritualistic trappings of the majority of European freemasonic and illuminati secret societies.
  12. Secret Societies of America's Elite: From the Knights Templar to Skull and Bones by Steven Sora
  13. Austin Meredith Dealing Dope
  14. Delano Family Papers
  15. D. Heywood Hardy Papers / Library of Congress
    Dermot Heywood Hardy (1893-1982), a 1917 law graduate of Georgetown University, was stenographer and secretary for the mission. "A native of Waco, Texas, Hardy was hired in 1913 as a secretary in the Department of Justice in Washington, D.C.... After his work in Russia, he was attached briefly to the War Trade Board in Europe, employed as an attorney in the Department of Justice, and had a private law practice." (D. Heywood Hardy. A Register of His Papers in the Library of Congress. Prepared by Michael Spangler.)
  16. 'The Club of Rome,' a think-tank of scientists, economists, businesspeople, international civil servants, and politicians from the five continents. The Club began in 1968 in an informal way at the villa of Aurelio Peccei, an Italian industrialist in Rome. Ian Johnson, Secretary General, Club of Rome, and former Vice President, The World Bank. EDITORIAL BOARD April 2011
  17. Public Banking Institute (PBI) is a non-partisan think-tank, research and advisory organization dedicated to exploring and disseminating information on the potential utility of publicly-owned banks, and to facilitate their implementation. PBI was formed in 2011 as an educational non-profit organization by a group of citizens including past and present community and civic leaders, businesspeople, educators, political economists, writers, and banking and other professionals. The group shares a concern over the destabilizing actions of a private banking industry that, through its corporate business model, has precipitated the economic imbalances now witnessed across the US economy. For more information about public banking, please check out PBI's "Public Banking in America Legislative Guide".
  18. Demos, a non-partisan public policy organization, in conjunction with the Center for State Innovation, recently issued a studied look at the potential for partnership banks across the country, including an eye toward the 11 states already considering such legislation. These various proposals would "move general revenue deposits out of the Wall Street banks that dominate the banking business today, and use them to capitalize a new local public structure with a mission to grow the local economy". In essence, Main Streets and state capitols alike would flourish, if given the chance and the resources. Local economies and state budgets would both be bolstered by a "bankers' bank" system — one that increases revenues (partially through dividends earned on loans to small businesses and community banks) without raising taxes.
  19. The Logan Act is about Conducting Foreign Relations Without Authority -Michael V. Seitzinger Legislative Attorney American Law Division February 1, 2006 explains the history of how The House of Representatives passed the bill on January 17, 1799, and the Senate passed it on January 25, 1799. It was signed and became a law on January 30, 1799.
  20. TELFORD - INTERNATIONAL SIGNIFICANCE AND WHY THE LOGAN ACT REMAINS NECESSARY TODAY

 

The true purpose of an investment bank - is providing necessary financial services, not creating unnecessary products to bolster their own profits.”

"The Big Short" is like gaining twenty years of Wall Street knowledge in one 266 page book. 
It's like starting law school and having to pass the bar exam in thirty days, and defend a criminal in court thirty days after that. That's what these guys are.  Criminals. You don't have to be convicted to be a criminal.  This is the essence of the tax cuts...  Under the fiction of growing the economy, the rich get to keep all their money.  You don't want to kill the economy, do you?  If those rich people don't spend their money you won't have a job and the country will go down the tubes. 

 

 

PHD Thesis the innocent going to Wall Street and asking the right questions. “Her thesis shows there were ways to discover things that everyone should have wanted to know. That it took a 22-year-old Harvard student to find them out is just outrageous.” Barnett-Hart says she wasn't the most obvious candidate to produce such scholarship.

 

  1. Optimal Collusion with Private Information
    united states of america inc
    Walter Lipman Papers Yale
    World Money Power
    Yale Secrets 2010
    Yale Shadows and American Royalty
    271-919-1-PB-2
    271-919-1-PB-3
    071708PSIReport
    Antony Sutton Americas Secret Establishment
    Austin Meredith Dealing-Dope
    Bank Int Settlement Federal Reserve
    Bauman Book Excerpt
    Boston Fed Info
    Bush - Bones New World Order
    Dall
    England Official Secrets Act
    fed-appFRA-LH-PL63-43
    fed-today_lesson-2Fed Today Lesson 6
    Fed Today Complete Lessons
    Fed Today Plain English
    First Bank
    Frequency Trading Research
    Hammond Speaking Opium
    ISL01515USENJewish Shanghai
    legalized-cartel Life Afte rDebt
    Logan Act
    Logan Act-Tedford
    LPEcorruption
    Netherlands Tax Haven_2006_NL
    Opium Wars
    Proofs Of A Conspiracy
    Secret History Of American Empire - PERKINS
    Sephardic Pirates of the Revolutionary War
    Some Recollections by Captain Charles P
    High Frequency Trade
    Swiss Bank Intl Settlements
    The Note Book of an English Opium-Eater

IBM

  1. IBM i Virtualization and DS4000
  2. IBM i on POWER Blades Supported Environments
    IBM i on POWER Blades Supported Environments

 

 

The Difference between Capital and Capitalism By Sidney J. Gluck
The 21st century is witnessing an epical change, something to be noted in the emergence of two poles—one dominated by western capitalism and the other, in the process of forming an association of the former colonial countries in various levels and forms of economic development. Sociol-economic changes have taken place in history similarly, but not with such an explosive and defining character.  As an exception, capitalist colonial domination was a part of its growing industrialization and impinged on societies outside of the developing countries for greater personal gain.
Long before capitalism, under tribal communal society, there was no exploitation of man by man. Elders ran a collective society, which lived off nature's own production with little input of human labor other than gathering. That changed when some clever individuals learned how to use the forces of nature itself to increase nature’s own production. They ultimately enslaved others, creating class dominated society.  This continued for centuries, developing into control of extended agriculture terrain and animal husbandry which became the main means for human sustenance and growth—this, under feudal serfdom.  
During the feudal era, private ownership in many forms developed in early stages where individuals produced desirable items as commodities and ultimately exchanged for money.   This was individual production which began to flourish and it created the beginning of a mass market.   Some clever individuals set up facilities, inviting these individual producers into a "factory" and sell their products to the owners of the factory for mass marketing.  This relationship between owner and producer changed into another form of remuneration—that is, wages based on the labor-time in the production process and this was the beginning of the capitalist wage-labor system that went through a number of changes that ultimately culminated towards the higher forms of mass production, adding monopolization and today high-tech production which reduces the direct labor time content.  Thus, the wage-labor form of exploitation became the basis of industrialization and economic growth. Adam Smith, in his “Wealth of Nations” did not understand that and concluded that an “invisible hand” will resolve the fluctuation of market conditions.   The fact is, the quantification of labor-time is basically the value of a commodity because the monetary payment to the laborer is only a part of the values created.  The total labor-time is realized in the market in the form of money and that is where the accumulation of wealth begins, since the money becomes a form of capital and can be re-injected into a growing economy and can increase financial private wealth accumulation in the market place.   This concept of capitalism is Classical Economics was first developed by Karl Marx and published in 1857.  It was some thirty years later supplanted by British economist into neo-Classical Economics which established its own version that the wealth is created in the money market—but that is merely the area into which the wealth changes its form from commodity into its money value. (The Money Value relates to the cost of labor as a part of the total labor time and that, of course, is where the capitalist attempt to control the profits that they accumulate via their pricing.)
The 2008 economic crisis is a new example of the anti-social effect of the Capitalist development.  For the first time it fully reveals private capital’s penchant for taking its own course towards the highest rate of profit, even to the neglect of building industries that sustain employment in their home countries. However, capitalism has contributed a historic development in the building of industrial production, through individuals amalgamating a work force of wage-laborers in factories small and large. The incentive was private accumulation, but it took the form of capital investment into production of commodities, whose values were exchanged in the market for money as a form of wealth accumulation The quantification of wealth is created in the factories based on the labor-time input and is the primary source of the creation of wealth.

Capitalist do not produce anything.  They market commodities and turn them into the money-form of capital, which can then be reinvested.

Capitalists compete but also monopolized, circumventing completion to control prices and wage-labor relationship.  Monopolization arises and leads to a higher level of capital investment that also magnified exploitation. Ultimately, financial capital dominates the system and investments in industries ceased in the developed countries while they sought cheap labor overseas.  Even further, they incorporated high-tech since there is little cost in training labor for high-tech production—further increasing their accumulation of wealth. 

The present economic crisis in the USA is an excellent example of the fact that the capitalist class itself has split into two functions—financial and industrial—with finance the dominant factor in the economic structure. 

<snip>

Capital and Capitalism are now historically different.  The "Capitalism" system originally developed capital as a form of money hoards used for continued exploitation and accumulation of private wealth. However, the "Capital" system in China demands that private capital in China is invited to work with social capital as part of the national plan.  Thus, socially controlled capital can now be invested by the government as well as individuals and it actually represents a new historic contribution to human development. 

In the last analysis, based on its ability to produce, this structure of capital investment will ultimately lead into a kind of high level tribal existence with a productive output reaching a level that can take care of all the needs of all people.  Let us call THAT Communism . . . that is, if it ever happens under the threats of private capitalistic elements that refuse to use their private accumulations to protect the people as well the planet—who can be protected under the guide of a national plan and social capital.   “Socialism” is a historically necessary transitional stage to the ultimate state, which we might call Communism. To quote Karl Marx, the essence of socialism is reflected in his words: “to each according to CONTRIBUTION”.   The Marxist conception of economic and social development was based upon the Bourgeoisie continuing and even growing, within a harmonious society with the overall economic plans not in the hands of, but requiring private capitalists to obey the laws of social development as the objective of industrialization.  

<snip>

The lesson is "capital" itself is not the enemy. Capital now takes exists in two forms—private and social. Private capital is welcomed since it carries with it knowledge of industrialization that is the heart of building a society under the present forms of forces of production.  Therefore, the real lesson is building industries with full advantage of ability for national development.  Private accumulation is respected, provided it obeys the law and stay out of politics. 

Private capital accumulation must be guided and combined in a new sociol-economic relationship; otherwise we will have nothing but continuing economic crisis and the kind of anti-social decline we are witnessing today.  In the vernacular, God bless Occupy Wall Street—as Jesus might have done, having given his life to eliminate man’s inhumanity to man.  Historic change has created a positive direction for economic and social development, applying the humanism of religious sentiments with the addition of Marx’s economic vision so tha politics will follow the social needs of humanity for true economic and political democracy.

SIDNEY J. GLUCKsjgluck@aol.com Office:  212-929-9850  
18 East 16th Street, Suite 502, New York, NY 10003

 

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