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CORPORATIST FASCISM
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The liberty of a democracy is not safe if the people tolerate the
growth of private power to a point where it becomes stronger
than their democratic state itself. That, in its essence, is
fascism - ownership of government by an individual, by a
group : Franklin D. Roosevelt
The handwriting is on the wall ~ the growth of private power
has extended itself to the money markets with the feds
recent announcement that it will no longer publish M-3 Monetary figures
Money gets into the economy via the Fed buying securities.
Inflation is when too much money (M-3) is chasing
goods.
Right now, GDP (goods and services) is growing annually around
3.8 percent, but M-3 is being accelerated at three times that rate of
growth. The difference had to go somewhere ~ and quite naturally
into equity markets ~ as you can see by the chart.
Thus we have a false picture of economic growth fueled by too much
money being fed into the system by the Fed ~ and this will
no longer be reported.
To the Cheney/Bush administration ~ the Perception that the
economy is healthy and growing is far more important than the
reality that it is being artificially fueled by the Fed .
Robert McHugh calls it Corporatist Fascism and says it's
all about keeping vital information from the public ~ which
is an ongoing trait of this corporate owned government.
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Excerpt : "The Fed can electronically print money and hand it over to the PPT to buy this stock market. That has to be why all the extra M-3 growth over the past several months...Apparently, they don't want investors knowing they are the ones doing the buying, keeping prices up, or pushing them higher."
Allen L Roland
The Fed Announces it Will Hide M-3 To Keep You From Knowing What?
by Robert McHugh
http://safehaven.com/article-4108.htm
November 14, 2005 |
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The Federal Reserve announced on November 10th, without explanation, and I quote, "On March 23, 2006, the Board of Governors of the Federal Reserve System will cease the publication of the M-3 monetary aggregate. It will also cease publishing the following components: large-denomination time deposits, RPs, and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item on this release."
Why? It's simple, really. So that the Plunge Protection Team can hide its market manipulative, equity buying activities. You see, one of the key differences between M-2 (which it appears they will report) and M-3, is repurchase agreements. This is perhaps the most obvious reporting item where PPT market buying transactions show up. If they no longer report this item, folks like us who monitor the growth of M-3 for clues as to when the PPT is likely to buy the market, will have a harder time reporting that fact before, or even as, the PPT buys. Investors will be left more in the dark as to any secret rigging of the stock market. Why now? Apparently the Federal Reserve (a key member of the Working Group, a.k.a. Plunge Protection Team) sees a coming need to buy - or facilitate the buying - of markets, including the equity market, incognito. Apparently, they don't want investors knowing they are the ones doing the buying, keeping prices up, or pushing them higher.
We have continuously demonstrated the high correlation between growth in M-3 and a rising stock market. We have also demonstrated that when M-3 either declines or stays the same, the stock market is prone to decline. The Fed knows its hypocritical hyperinflationary expansion of the money supply recently has been publicized by Fed watchers, and that 12 percent annualized growth in M-3 during a time when the Fed is raising short-term interest rates aggressively, and jawboning a determination to stop inflation, is nothing short of illogical, bizarre Fed behavior. The reason for the dichotomy is quite simple. The Fed can electronically print money and hand it over to the PPT to buy this stock market. That has to be why all the extra M-3 growth over the past several months.
When we presented the Hindenburg Omen analysis several weeks ago, we warned that the PPT would likely buy this market to stop the higher-than-normal probability that the market could crash. Why did we warn that the PPT would likely buy this market, and stop any potential crash? Because of the M-3 numbers. We could see there was too much money being created. We know that the way money gets into the economy is by the Fed buying securities. Inflation is too much money (M-3) chasing goods. Well, GDP (goods and services) is growing annually around 3.8 percent, yet M-3 was being pumped at three times that rate of growth. The difference had to go somewhere. It did. Into markets, and very probably equity markets.
Why all the M-3? Undoubtedly because the PPT wanted to manipulate markets at this time for reasons that are secret to everyone but them. We are left to speculate as to those reasons. Is the economy closer to the brink than anyone realizes? Or, is it politically expedient to goose markets? Do the corporatist elitists want the big payback for backing the powers that be, and insist upon a rising market into year end? Does Greenspan have an all-encompassing, overriding desire to ensure his legacy by seeing the Dow Industrials at an all-time high when he retires in January? We aren't privy to the reasons because the Master Planners do not believe in the forthright flow of information. They believe that bad news cannot be handled by the flock, that confidence must be boosted at all costs, even if it entails manipulating the markets. Don't let the dead be honored, instead sneaking them into Dover at night. Don't let the real jobless figures be released, goose them with a phony birth/death adjustment, and so on. Now we can kiss goodbye the most important Fed statistic computed. Do you see what is happening folks? The Unpatriotic Act steals your civil liberties. Three young girls from Kansas cannot board an Amtrak train to New York unless they have a government issued photo ID. Not some futuristic sci-fi plot. Now. It is called Corporatist Fascism. Next could be freedom of speech. Then martial law. A computer chip under your skin. Eventually, your right to vote. Then it is all over, game set and match.
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