The results of the first-ever audit of the Federal Reserve are coming out.  They are absolutely mind-boggling.  They are purely corrupt and evil.

I had been able to add up about $8-9 Trillion that the Federal Reserve had disclosed to bail out various domestic and foreign banks, to prop up the sagging stock markets, and to "shore up" the U.S. economy through what Bernanke has euphemistically called "quantitative easing" (simply a disingenuous synonym for "printing money" or "monetizing the national debt").

That was bad enough, being in addition to all the TARP funds, Stimulus funds, and Federal Deficit Spending.  The money supply was and is clearly in danger of entering a hyperinflationary cycle.

But, now the Truth is coming out.  It's not a paltry $8-9 Trillion that the Federal Reserve under Bernanke and Obama have lavished upon cronies.  No.  It's over $16 Trillion -- more than twice what we thought!  Keep in mind this is in addition to the National Debt of over $16 Trillion.  It is completely separate from all the deficit spending of the out of control Federal Government.

It's no wonder that Americans have lost over 40% of their wealth during this same time!  It's actually a wonder that we haven't lost it all!  The Administration and Federal Reserve together have more than quadrupled the total world supply of dollars in circulation since Obama took office.  The only reason we aren't in already in hyperinflation is that so many of these new dollars are being hoarded in reserve by the world's failing corrupt banks and by the business world which is terrified of spending capital in the midst of such insanity.

The Federal Reserve is, indeed, the biggest scam in the history of man.  The Federal Reserve is the largest criminal organization on the face of the Earth.  We have enabled and ignored a secret (it's never been audited, it's separate and above the U.S. Government, and the "owners/investors" are unknown) cabal that is working on a global level against the interests of the American people.

This should be a scandal of such proportions that it should bring down the Administration and the Federal Reserve in an explosive flash of public outrage.  If we had a real and honest news media any more, this should be the topic of every discussion every hour every day until a new Administration is installed.  The people at the top of the current Administration and Federal Reserve should go to prison -- and perhaps worse.  And the Federal Reserve must be abolished!

The fact that this scourge will be hushed and that only continuing distractions will be debated in the pseudo-media during this election season is a clear sign of the late stages of decline and decay in this nation.  Get ready.  Things are going to get a great deal worse before they get better.


Read:  First Audit Results are Startling!



Bill Cochrane

Back in 1982, President Ronald Reagan decided not to sign a treaty known as "Law of the Sea Treaty" (LOST), a United Nations convention that would raid America's treasury for billions of dollars, then redistribute that wealth to the rest of the world by an international bureaucracy headquartered in Kingston, Jamaica.  But today, the Obama Administration has revived that treaty, and today Senator John Kerry (D-MA) will hold hearings designed to illustrate its supposed benefits and generate support for its ratification.  Without a doubt, Reagan's decision should stand, and LOST should remain relegated to the trash bin of history.

The rationale for LOST is that it supposedly brings order to the world's oceans, defines the rights and responsibilities of nations as they navigate and conduct business across the seas, protects the marine environment, and allows for the development of natural resources of the deep seabed.  On the surface, these all sound like worthwhile goals.  The thing is, the United States doesn't need to join another United Nations treaty to make it happen.

For more than 200 years before LOST was adopted in 1982 and for 30 years since then, the U.S. Navy has successfully protected America's maritime interests regardless of the fact that the United States has not signed on to the treaty.  The United States' navigational rights and freedoms have been secure, and they are best guaranteed by a strong Navy.

LOST is not without consequences, either.  One of the more nefarious and insidious of its provisions is Article 82, which requires the United States to forfeit royalties generated from oil and gas development on the continental shelf beyond 200 nautical miles - an area known as the "extended continental shelf."  That money, which one estimate says could be worth many billions, if not trillions of dollars, would go to the International Seabed Authority, a new international bureaucracy created by the treaty and based in Jamaica.  Heritage's Steven Groves explains that from there, America's money could be shipped to the Middle East, Africa, China, and even state sponsors of terror:

      "LOST directs that the revenue be distributed to 'developing States' (such as Somalia, Burma ... you get the picture) and
       peoples who have not attained full independence (such as the Palestinian Liberation Organization ... hey, don't they
       sponsor terrorism?).  The assembly - the 'supreme organ' of the International Seabed Authority in which the United States
       has a single vote to cast - has the final say regarding the distribution of America's transmogrified 'international' royalties.

       The assembly may vote to distribute royalties to undemocratic, despotic or brutal governments in Belarus, China or
       Zimbabwe - all members of LOST.  Perhaps those dollars will go to regimes that are merely corrupt; 13 of the world's 20
       most corrupt nations, according to Transparency International, are parties to LOST.  Even Cuba and Sudan, both
       considered state sponsors of terrorism, could receive dollars fresh from the U.S. Treasury."

In addition to shipping America's money overseas to unsavory recipients, LOST could have other negative consequences, as well, by exposing U.S. industry and manufacturing to baseless international lawsuits.  In fact, environmental activists and international legal academics are actively exploring the potential of using international litigation against the United States to advance their agendas.  And for those who say LOST is a tool for mediating international disputes, take a look at the Philippines, which signed on to the treaty and yet today is finding itself browbeaten by China and its claims in the South China Sea.

If America truly wants to preserve its rights on the sea, then it needs to bolster the one tool that has guaranteed those rights throughout history -- a strong U.S. Navy.   Unfortunately, under President Obama's watch, the United States is seeing its fleet diminished in size and ability.  A lone piece of paper will not defend America's interests on the sea, and neither will transferring billions of dollars to an international authority in Jamaica for redistribution the world over.  LOST should not be ratified and signed, and instead Washington should turn its attention to ensuring that the U.S. Navy has the resources it needs to protect America's interests on the high seas.



Mike Brownfield - Heritage Foundation

May 23, 2012 UPDATE

The following is the text of a letter sent today to Senate Majority Leader Harry Reid:


The Honorable Harry Reid
Majority Leader
United States Senate
Washington, D.C. 20510

Dear Mr. Leader,

We understand that Chairman Kerry has renewed his efforts to pursue Senate ratification of the United Nations Convention on the Law of the Sea. We are writing to let you know that we believe this Convention reflects political, economic, and ideological assumptions which are inconsistent with American values and sovereignty.

By its current terms, the Law of the Sea Convention encompasses economic and technology interests in the deep sea, redistribution of wealth from developed to undeveloped nations, freedom of navigation in the deep sea and exclusive economic zones which may impact maritime security and environmental regulation over virtually all sources of pollution.

To affect the treaty’s broad regime of governance, we are particularly concerned that United States sovereignty could be subjugated in many areas to a supranational government that is chartered by the United Nations under the 1982 Convention. Further, we are troubled that compulsory dispute resolution could pertain to public and private activities including law enforcement, maritime security, business operations, and nonmilitary activities performed aboard military vessels.

If this treaty comes to the floor, we will oppose its ratification.

Sincerely yours,