This is page twenty-one of my discussion on the Alex Jones film The Obama Deception. If you were linked here by mistake, please refer to page one of this article, which contains the introduction.
The banking cartel had established a beachhead in 1913 through the Federal Reserve Act. In 1947, they set up a parallel shadow government through the National Security Act. From '47 on, the National Security State began the long process of absorbing federal and state bureaucracies, while at the same time, undermining the constitutional power of Congress and dominating the Executive Branch.
The National Security act founded the CIA and properly established the military, foreign policy, and other intelligence agencies. It didn't absorb bureaucracies outside that, and in fact didn't absorb anything. The CIA and military are still two very different establishments. They may work together, but they aren't under some sort of master government.
Alex Jones didn't mention this in other movies, it sure seems important.
By controlling the issuance of currency and credit, the private Federal Reserve was able to buy up most of the Fortune 500. And if a company wouldn't sell, the bankers would unleash federal regulators to run them out of business. Private central banks in Europe, the United States and England took taxpayer money and loaned it at over 30% interest to third world nations. The bankers would then bribe the leaders of those countries not to pay back the loans. Their third world puppets would sign agreements stating that when the country defaulted, the banks would be given all the natural resources and infrastructure of the once sovereign lands. But worst of all, the countries would pledge future taxes, paid by the people, in perpetuity, as profit to the private banks.
What? Does Alex Jones just hold his lies together with duct tape and faith and hopes nobody ever tries to look into what he says, or even listen to it and see how crazy and illogical it sounds? The Federal Reserve does not own any Fortune 500 company - does Alex Jones realize that list is based on the global top 500 companies in Fortune magazine and not some magic term? The World Bank doesn't seize entire countries. You can read more about the World Bank on my NWO page.
By the year 2000, there were few nations that had not fallen to the designs of the money power. The globalists were now ready to start their final phase of world government takeover, the destruction of the western nations' economies. To carry out their final takeover, they first removed banking regulations, like the Glass-Steagall Act, in the late 1990s. This allowed their front companies to issue unlimited credit to the world and to set up colossal Ponzi schemes, the likes of which the world had never seen. The scams were advertised by the controlled corporate media as completely legitimate.
As I discussed previously, the Glass-Steagall Act was not removed, but parts of it to help deregulate various parts of the open market, derivatives being the primary example. It's surprising that Alex Jones opposes things that help deregulate capitalism as he constantly champions it. Regardless, the Glass-Steagall Act had to do with regulations in the US, not what happens in the World Bank. The Glass-Steagall Act repeal was in 1988, not the late 1990s[380b].
Because of the fantastic returns, private investors, corporations, state and local governments, invested heavily. They had taken the bait, hook, line and sinker. To destroy confidence, in late 2007, the bankers themselves began to badmouth the scams they had created. Next, the central bankers cut off the tsunami of fiat money that they had been using to pump up the bubble. When Congress and the public refused to write the finance oligarchs a blank check, the bankers began to engage in financial terrorism. They said that the world would go into another great depression unless their demands were met, further destroying confidence. The stock market instantly had its biggest one-day loss in history, but even that wasn't enough to force Congress to capitulate to the offshore banks.
Luckily for us Congress still isn't controlled by the NWO - well sometimes it is, but sometimes it's not, and this is one of the times to Alex Jones that it isn't.
There was much more involved than just some massive conspiracy by a few people to crash the economy. Firstly the housing bubble, and bubbles happen fairly often in American society, but it wouldn't surprise me if Alex Jones found a way to blame over-investment into terrible dot-com ideas on the Federal Reserve. Many people saw the bubble and mortgage crisis looming when the prices of homes went up 124% in 8 years initially, primarily from people rushing to buy their own homes, and whether or not Alex Jones wants to admit it, the law of supply and demand tells us that the more there is a demand for something, the more the price will rise. New home owners buying housing they could never afford, coupled with adjustable rate mortgages, either new or via refinancing, and some loan officers simply "guessing" what people made caused individuals to not be able to afford their mortgage payments as rates went up, and so foreclosures went up 79% in 2007 and in 2008 they increased a further 81%.
Going further, investment banks and government run corporations such as Fannie Mae put more pressure on the risky nature of sub prime credit. Sub-prime is a term referring to credit of the holders, that is to say, if your history is bad, then it's "sub prime". Because of the idiotic and frivolous loans sub-prime, or garbage credit, loans reached $1.3 trillion in early 2007. What does it matter? Most of Alex Jones fans are libertarian or paleoconservatives who oppose regulation anyway, so the idea they would demonize anything than their own beliefs shows their hypocrisy.
Coupled with the housing bubble, doom was inevitable, and as I discussed at the beginning of this film, in the section with Daniel Estulin, many people saw it coming as early as 2003.
Much more was also involved with the situation than the above, but that was the majority of what happened. Other contributing factors to the crisis other than risk taking behavior and predatory lending were cases of mortgage fraud; extremely low down (or non-existent) payments with negative equity; housing speculation also helped drive up prices; inaccurate credit ratings, as noted above, on perspective home buyers and those getting a second mortgage; mortgage-backed securities and collateralized debt obligations being mislabeled as good and sold, particularly overseas; off-balance sheet financing, that is to say various "structure investment vehicles" allowed banks to underwrite large amounts of assets and liabilities, such as unsold CDOs. This further allowed them to buy up larger amounts of mortgages, credit card debt, student loans, and so on. Various capital market pressures, runs on credit (just like the many other panics in American history, even before the Federal Reserve); relaxation of net capital rules, allowing banks to take on more debt, that is to say, self-regulation of the banking industry (what the conspiracy theorists want); as well as the self-regulation (again what conspiracy theorists would otherwise say they want) of deriativies; inaccurate economic forecasting, something Gerald Celente is widely known for; and other contributing factors.
So it was more than just the Federal Reserve doing whatever they wanted.
A complete collapse of the economic system was a conceivable threat, especially in the wake of the crisis. Unlike Alex Jones, real economists understand that doing nothing can be very dangerous, while Alex Jones champions doing nothing on one hand and another he demonizes deregulation when it can help him demonize the Federal Reserve, and so forth.
Deregulation of derivatives did indeed contribute to the crisis, but what Alex Jones often fails to admit is that he frequently opposes regulation in a capitalist economy. This regulation also includes financial regulations. He simply won't mention it when the idea is unpopular. His paleoconservative beliefs stress tradition, anti-federalism, anti-intellectualism, and deregulation beyond even Reaganomics. Keep this mind as Alex Jones condemns deregulation when it comes to things he opposes, but of course any other deregulation is good.
If Alex Jones stuck to what he says he'd say that people must bear the brunt of their own risk-taking behavior, knowing that they could not afford mortgages or homes out of their spending range, but instead he says the opposite, even though it goes against his core beliefs.
Jones sends a mixed message above; on the one hand, he says it was all engineered and setup by the government, but on the other hand he says that congress refused to do whatever the Federal Reserve wants. So, which part of government set it up then? The invisible, magical kind? I guess so.