Obama Wants Dictatorial Power to Increase Debt Kurt Nimmo Infowars.com November 30, 2012
The former president of the Federal Reserve Bank of New York and current Treasury boss Timothy Geithner has informed Republicans that Obama wants absolute authority to increase the national debt. Geithner’s proposal was met with derision and laughter by Republicans. “Well, it’s outrageous,” Sen. John Cornyn (R-Texas) told Fox News when asked about Obama’s plan to personally dictate the finances of the United States. “It’s profoundly irresponsible. So that’s a crazy idea and I’m amazed that Secretary Geithner had the courage to float that yesterday.” The idea floated by Geithner would give the president sole power to unilaterally raise the debt ceiling at any time. Congress could pass a resolution to stop the increase, but it would require a two-thirds vote of both chambers to pass and could still be vetoed by the president. As it now stands, the so-called debt ceiling can only be increased following a vote by Congress. Prior to the First World War, Congress directly authorized the amount borrowed through the Treasury Department, but this was changed in 1917 to pay for a scheduled war. The increase was termed a debt ceiling. It has been raised 78 times since 1917 (in 2001 alone, it was raised an astounding 11 times). In order to raise the debt ceiling, Congress must enact specific legislation that must be signed by the president. Obama now wants to raise the debt ceiling and borrow money from the Federal Reserve without the approval of Congress or the American people.
Allowing Obama to unilaterally jack up the debt is unconstitutional. Article One of the Constitution assigns the authority to “borrow Money on the credit of the United States” to Congress, not the executive. “This is not just a fetishization of the Constitution,” writes John Carney. “Even if we were starting from scratch, we’d want to incorporate a requirement for Congressional approval of debt issuance. Congressional approval makes defaulting on debt far less likely than it would be if the executive branch could issue debt on its own.” Obama Is Going Dictator! VIDEO BELOW http://www.youtube.com/watch? feature=player_embedded&v=bR2Qyy7KA9U The Obama Deception The Truth About Barry Soetoro AKA Barack Obama VIDEO BELOW http://www.youtube.com/watch? v=eAaQNACwaLw Fall of the Republic The Destruction of America VIDEO BELOW http://www.youtube.com/watch?v=VebOTc-7shU
The Destruction of America: Brought to You By JP Morgan Chase Infowars.com November 30, 2012 Alex Jones analyzes a JP Morgan Chase ad that was in heavy rotation over the Thanksgiving holiday that is meant to sell the idea that the mega-bank is the backbone of America, when it reality, it is part of an enormous fraud. The Destruction of America: Brought to You By JP Morgan Chase VIDEO BELOW http://www.youtube.com/watch?v=jBIT_Lmnscs Instead, the predatory institution, along with the other ‘Too Big to Fail’ banks that received bailouts, have used corporate welfare to sellout the nation, ship jobs overseas, reap profits on money lent from the Federal Reserve at zero interest, while
saddling huge debts upon the people through the larger derivatives scheme. The failure of the banks to lend to small businesses and ordinary Americans has been blamed for further stalling the economic crisis created by over-leveraging and derivatives on the global market. JP Morgan Chase is at the heart of Rothschild and Rockefeller monetary interests; no wonder that its CEO Jamie Dimon sits on the New York Federal Reserve board of directors, while wealthy elites like Warren Buffett have called for him to replace Tim Geithner (another Fed insider) at the Treasury Department. New York Federal Reserve Board of Directors – Jamie Dimon, CEO JP Morgan Chase Cooking up carbon credits: By distributing energy-efficient stoves in Africa, JPMorgan Chase aims to reduce greenhouse gases – and increase profits. JPMorgan Considers Selling EcoSecurities, Carbon Finance Says Rockefeller and Rothschild Dynasties Join Forces The Rockefellers and the Rothschilds Make a Deal Fed Approves Chase-J.P. Morgan Merger Chase buying J.P. Morgan Why is Jamie Dimon on a Federal Reserve board? Systemic Risk Is Everywhere JP Morgan Chase: $70 Trillion Hedge Fund JP Morgan Funded NYPD Mass Arrests Over 700 Peaceful Occupy Wall Street Protesters Obama: Head Over Heels for Jamie Dimon and JP Morgan Chase JP Morgan’s $2 Billion Loss Just A Preview of Coming Derivatives Collapse Dimon Best to Lead Treasury in Crisis, Buffett Says Dimon Best to Lead Treasury in Crisis, Buffett Says JPMorgan could lose $5 billion from PIIGS exposure: report MF’s Corzine Ordered Funds Moved to JP Morgan Fiat Empire: Why The Federal Reserve Violates The U.S. Constitution VIDEO BELOW http://www.youtube.com/watch?v=5K41O2QfpjA Money, Banking and the Federal Reserve VIDEO BELOW http://www.youtube.com/watch?v=YLYL_NVU1bg
Published on Nov 30, 2012
Published on Nov 30, 2012
The former president of the Federal Reserve Bank of New York and current Treasury boss Timothy Geithner has informed Republicans that Obama...