Thurs Post #1: 2290 Saxony Court: the latest fake mansion picture poster child

Yesterday we highlighted the barrage of news stories promoting the upcoming auction of 2290 Saxony Court in Mississauga, Ontario.

Languishing on the market since it was constructed, the builder has turned to an auction to hawk the home that originally carried an $11 million price tag.

As part of the hype, in which Richie Brothers outwardly admit they hope a lower price will trigger a bidding war, the $5.5 million opening bid is promoted as half price.

Our interest in the property was piqued when a reader in this online Windsor newspaper story noted something was amiss. 

The comment says, "the front of the property has been Photoshoped; the sidewalk and curb are where the pillars and fence are. There is no more setback to this monstrosity than there is to a bungalow on Bloor. I hope no one is bidding online based on those pictures. Unless there is a disclaimer along with the description and photos of this place it constitutes fraud."

Really?

The main nighttime entrance photo above is featured prominently in photo gallery for the house. As is this daytime photo:

There's also this 3D rendering of the overall property:

Look at the wide, sweeping driveway.  Look at that lush, huge front yard.

Wow.

The builder, Ambassador Fine Custom Homes, has a masthead on their website that proudly proclaims: "Building Trust."

When you see the interior pictures, images of caviar wishes and champagne dreams abound.

All of which is surely designed to catch the eye of intending international buyer (a Ritchie Bros spokesman outwardly admit their market here is beyond the Mississauga area - probably overseas).

But take a closer look at this 'house' via google street view. Because when you do, Ambassador's slogan of 'building trust' suddenly takes a vicious beating:

As you can see 2290 Saxony Court isn't some wide open country estate, it's a large house squeezed into an end-of-cul-de-sac residential property (click on all images to enlarge).

Umm… what the hell happened to the sprawling front yard? Back to the 3D rendering, check out the sweeping driveway and the way it wraps around the side of the house.  Look at all the space…

Err…. what space?

(Isn't the google image of the garbage bag plunked next the encroaching neighbour's driveway priceless?)

Now let's take a look a real aerial view and compare it to the 3d rendering:

vs

Do you get a sense of how compact the property is from any of the pictures in these photos?

What about in the pictures from the Toronto Star spread?

Not only do the news stories fail to give us any perspective on the real layout of the actual property, none make note that in May 2012 this house was listed at $8,900,000. Nor do they tell us that in June of 2013 the house was pimped for only $7,500,000.

So why is the inflated $11 million figure prominently bantered about?

To say these photos bear a passing resemblance to the reality of the property is beyond generous. And if the builder is wiling to mislead buyers with photoshopped promotional exterior pictures, you have to wonder what other surprises await on the inside.

Yet our gullible media, rather than expose the false pictures for what they are, simply regurgitate the press release and provide free advertising for a builder who seems to do everything but 'build trust'.

Sigh.

Of course why would we expect mainstream newspapers like the Vancouver Sun or the Toronto Star to ferret out truth and protect the public interest?

It's not like they have had to rationalize publishing fake mansion pictures before, right?

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Will this $11 million Mississauga mansion sell for less than half it's value at auction? Or is the media being played again?

This is 2290 Saxony Court in Mississauga, Ontario.

Its an 18,000 Sq tt, 4 Storey, 23 Room, 9 Bath French Chateau Inspired Mansion. From the realtor description:

This Masterpiece features hand picked creme marfil marble from Spain, 10 Ft Honduran mahogany doors, 23 Ft coffered ceilings, plank sized North American white oak flooring, floor to ceiling hand carved marble fireplace mantle, A $1 Million Hvac system, automated smart system, an 8 car garage, a wine cellar. 

Extras: a state of art theatre room + a games room complete with heated hardwood floors and a bar! The exterior boasts buffed chamfered Indian limestone (approx cost $1 Million), 25 tons of structural steel framing, 2′ water nain, 200 Amp generator.

Supposedly the was originally priced at $11 million (curiously the numerous press articles don't list what it's appraised at - we've all seen that story before) and the owners, in an attempt to sell the home quickly, have turned to Ritchie Brothers to auction the house.

The 23-room mansion, located at 2290 Saxony Court, off of Mississauga Rd. just north of the QEW, was originally priced at $11 million, but the auction company is estimating the house could sell for about $5.5 million as the owners are looking to sell quickly.

However, Ritchies Auctioneers managing director Kashif Khan said the mansion could ultimately wind up selling for more than the estimated price. He said auctions work best when there's a unique item up for grabs and it's priced right because that leads to competitive bidding. Khan said he expects that to happen with the Mississauga home.

Ahhh, suddenly the picture clears.

Ritchie Bros is attempting to generate advertising for their auction and a bidding war. The hook?  Announcing the house MAY sell for half it's original listing price of $11 million.

Meanwhile the house gets worldwide media attention with newspapers, like this photo spread in the Vancouver Sun.

Is it working?

The company has received calls about the property from places such as Asia and South America and there has also been interest here in Mississauga from well-known, wealthy locals, said Khan.

Curiously this online Windsor newspaper story contains an interesting reader's comment about the photo of the mansion above:

The comment says, "the front of the property has been Photoshoped; the sidewalk and curb are where the pillars and fence are. There is no more setback to this monstrosity than there is to a bungalow on Bloor. I hope no one is bidding online based on those pictures. Unless there is a disclaimer along with the description and photos of this place it constitutes fraud."

Misleading photoshopped real estate pictures in a real estate promotion picked up by media outlets and run worldwide?

Haven't we seen this before?

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One blogger's take on the Vancouver Inventory numbers

An interesting post by 'Jesse' over on Vancouver Condo Info well worth sharing. For those who do not know, Jesse is the author of the Housing Analyst blog.

We concentrate on stuff like sales and listings and inventory. Here is a quick look at inventory going back to 2005, as of the end of February:

                                          1995 17377
                                          1996 17025
                                          1997 17506
                                          1998 17988
                                          1999 15663
                                          2000 14149
                                          2001 14091
                                          2002 10349
                                          2003   9692
                                          2004   7667
                                          2005 10599
                                          2006   8310
                                          2007 10414
                                          2008 11420
                                          2009 16280
                                          2010 10782
                                          2011 11925
                                          2012 14055
                                          2013 14789

The second half of the 1990s saw a steady erosion of prices and inventory was elevated for most of that time. This inventory was slowly chipped away in the early 2000s, and prices started taking off in a major way in 2002 and 2003, around when inventory looked to have bottomed. That started the last major boom from 2003 through to 2008. After the last recession inventory has been generally elevated and price rises have been more muted.

It looks like inventory at the end of February is on track to be between 13000 and 14000. This sets the “base” for inventory for most of the spring selling season and some increased competition for sellers.

Price drops (from Feb to June) in the spring in Vancouver are rare. I do not expect this year to produce price drops over that period in 2014. However given the “high” level of inventory, what looks to have been mediocre rental growth over the last year, robust completions and the purported “advance buying” due to rate rises in 2013, I do not think prices will rise significantly in the first half of 2014.

I am awaiting Vancouver population growth to mid-2013 (to be released in the next 1-2 weeks). This will provide some indication on how much Vancouver CMA has grown; growth into the region usually leads purchases by about 6-12 months as in-migrants often wait before deciding where to buy in the region after moving here.

I still think the prevailing trend for Vancouver-area property is down but I do not think it will be in a straight line. 2013 was stronger than I think will be the average over the next 5 or so years. We’ll have to see if 2014 can repeat this performance, and I would never underestimate the possibility that assets like property will be boosted by low interest rates and robust equity valuations for a few more years.

Anyone have any thoughts?

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Real Estate Drone Wars?

So yesterday we told you about a CTV story that promoted two local struggling realtors who were turning to drone videography to sell real estate.

So we took a look around at what is already out there.  As we mentioned yesterday, if you are putting together a 'commercial' video, you need a Transport Canada special permit.

But if you're just having fun. You don't.  Check out this four minute aerial tour of Vancouver by Quadrotor Dragonfly filmed using a Hornet class hexarotor mark 3 equipped with camera gimbal and first person view (FPV) electronics.

Here's a longer 12 minute clip from the same group with stunning views over Stanley Park, Lions Gate Bridge and around Vancouver.  Video footage is not as polished, but the range of use is apparent:

And here's an aerial video for 660 Holmbury Place in West Vancouver done by Lofty Media.

Here's another aerial videographer explaining his gear and how his target market is real estate:

We get the feeling the Mcnab brothers may a little pre-mature with the 'optimism' about their new venture. We suspect competition in this field may get somewhat intense.

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Friday post #2: Droning on… local realtors latest gimmick for free TV news self-promotion

Remember these guys?

They are the realtor brothers (Russ Macnab and Jordan Macnab) who in November 2012 dreamed up the "Crib Crawl",  a real estate marketing gimmick that fused a pub crawl with open houses.

Two Metro Vancouver realtors are taking a group of about 30 potential homebuyers out for a night on the town that includes drinks, appetizers and a limo ride. Along the way, the group will visit The Pint pub, as well as five funky homes that are for sale in Vancouver.

The “crib crawl” is an attempt by realtor brothers Jordan and Russ Macnab to attract potential buyers in a slow real estate market. It’s not the only tactic realtors are trying — others have offered kayaks and bicycle giveaways and free gym memberships with home purchases.

“The market is dead right now, so we’ve got to do something. Buyers are really hesitant,” Macnab said. “We’re trying to generate some traffic by thinking outside of the box.”

Yeah… get them plastered as a way of lowering buying inhibitions. Awesome.

Well our gimmicky R/E duo is back with their latest attention getting sales tool… drones. Specifically making real estate sales videos with drones:

It's an eye-catching idea and certainly certainly one can image a successful niche market for a professional multimedia producer.

CTV News thought it interesting enough to profile them on last night's news. It's a concept that has been gaining popularity in the United States and it's a premise with promise.

The brothers hire a crew to help out with the production of each video, and Russ, the self-described “techie” of the brothers, operates the drone.

“You can use them in apartments and lofts, stuff like that, but where it comes into play is with these big mansions that have awesome yards and huge pools and grand entrances that I can fly through the front door,” he said. “Those are the houses that are gonna stand out and make use of that.”

Just one small problem tho… you must obtain a special permit from Transport Canada every time you use your drone for commercial purposes. They’re even required to submit a flight plan of the drone’s path through the homes if you want to shoot hovering video from one room to the next. But presumably the red tape is worth it for the brothers:

“Right now the buzz is awesome,” Jordan said. “People want their property to have this angle first, so it’s going to be busy. We’re going to be busy.”

'We're going to be busy?'

Their promotional video says they've been at if for a year, but it seems the video business hasn't been a big success - yet.

Well, hopefully their optimism is well placed.  Because if you read between the lines they clearly aren't having too much success closing on actual real estate sales. Hence the branching out into real estate video production.

They say if you can't do, you teach.  And in real estate, if you can't sell, perhaps you can promote.  

As it is, these two seem to have mastered self-promotion.

(Hat tip: Manny Franks)

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Friday Post #1: Sidebar stats updated

If you follow the daily inventory stats on the sidebar, you will note we have amended them.  We originally started off with January 3rd, omitting the day's totals from January 2nd (which represent the first sales day of the year).

The omission has now been corrected and the monthly gain updated.

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You've heard about counterfeit merchandise from China but how about a counterfeit city? And guess which city is being ripped off?

This is Weihai city in Shandong province, China. 

With mountains meeting the ocean and its temperate climate, Weihai was named as ‘China’s most livable city’ for 2013.

Now… whenever you hear about counterfeit merchandise, you almost always think about China.  It's not a completely undeserved reputation - the country does have a history of churning out tons of fake electronics, designer clothing and everything else you can and can't imagine.

But counterfeit cities?

Nicole, a blogger who writes about China, the Philippines and pop culture, recently received an interesting brochure for apartment units located at a new Weihai development called ‘Bay Palace’. Here is the brochure (click on images to enlarge):

Recognize the 'city by the sea' pictured in this brochure?  That bridge is a dead give-a-way, don't you think?

So why would condo marketers in China want to pass off a picture of Vancouver as the Chinese city of Weihai? Too bizarre for words.

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Did someone say it rains here?

`

So the weather forecast calls for up to 50 mm of rain to fall in Vancouver on Friday alone. Cue Frankie MacDonald the weather forecaster from Sydney, Nova Scotia (just cause we like him).

Take heart Canada, we don't have ice storms or a 'polar vortex', but by Saturday we are expected to have received 100mm of rain.

Paradise indeed.

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Soft landing? No crash? Hmm… sounds familiar.

There's been lots of chatter in the media from numerous sources lately (including our own new Bank of Canada Governor) talking about how the Vancouver (and Canadian) real estate bubble hasn't collapsed yet and insisting the 'threat' is simply not there.

This despite the fact all the elements telling us we are in a bubble are still present.

So it's timely that gordholio over on Vancouver Condo Info has posted the following quotes from 2005 in America.  After hearing about warnings of a housing bubble for years, and seeing no collapse, the public was provided with these treatise's.

"We are really on track for a soft landing. There are no balloons popping.”

- David Lereah, National Association of Realtors, December 2005

“The retreat in housing-market activity that’s now under way amounts to a simmering-down process rather than a classic cyclical contraction that could spiral down for some time.”

- David Seiders, Chief Economist, National Association of Home Builders, Jan 2006

“The idea that we’re going to see a collapse in the housing market seems to me improbable.”

– John Snow, Treasury Secretary, 2005

“I think the bloom is off the rose, but there is no doom and gloom.”

- Alan Nevin, Chief Economist, California Building Industry Association, Dec 2005.

“There was never a “bubble”, so there is nothing to “burst”.

- Jeromith Sutton, 2006, NAR Investment Advisor

And, of course, there was America's central banker himself who in 2005 insisted there "is no housing bubble to go bust."

Sound familiar?

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Vancouver's Average Price hits new high

Happy New Year gang.

First real post of the year and we defer to Larry Yatkowsky who, once again, brings us the latest statistics for real estate.

The big news is that Vancouver’s detached home average price is $1,276,073, the highest price ever recorded for a single family home in this city.

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Happy New Year 2014

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Goodbye 2013, Goodbye

As 2013 winds down and gives way to 2014, there is no commentary today. Instead, our sincerest wishes for a Happy and Prosperous New Year to all who come to this site today.

Thank you for visiting the blog throughout the year.  Thank you for your comments, your emails and sharing your thoughts.

Have a safe, memorable night and may 2014 find you all in good health.

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THE most important news story of 2013 - NSA regularly intercepts laptops/other electronic devices to implant malware. All iPhones now compromised too.

Way back on June 10th we had a post titled "The most important news story since Watergate."And as the year draws to a close we will update with two significant revelations from yesterday and today.

The very idea that a government organization has been collecting information for seven years on every phone call, domestic and international, that Americans make was long rumoured and dismissed as the ramblings of the tin foil hat crowd.

But it turns out it's all true.

The US National Security Agency has recorded and logged every phone call, every email, every internet post you have made and stored it. They have done this with the implicit support (and granted access by) organizations such as Facebook and Google.

What we are learning has come to us courtesy of NSA whistleblower Edward Snowden (who should have been Time's Person of the Year)

Since then it has come out that the NSA has hacked the phones of world leaders.

Yesterday Germany's Spielgel magazine revealed stunning revelations which exposed the spy agency's 50 page catalog of "backdoor penetration techniques"

These NSA agents, who specialize in secret back doors, are able to keep an eye on all levels of our digital lives - from computing centers to individual computers, and from laptops to mobile phones. For nearly every lock, ANT seems to have a key in its toolbox. And no matter what walls companies erect, the NSA's specialists seem already to have gotten past them.

It gets better, because when simple penetration is not enough, the NSA adds "implants."

In cases where TAO's usual hacking and data-skimming methods don't suffice, ANT workers step in with their special tools, penetrating networking equipment, monitoring mobile phones and computers and diverting or even modifying data. Such "implants," as they are referred to in NSA parlance, have played a considerable role in the intelligence agency's ability to establish a global covert network that operates alongside the Internet.

And how are those "implants" added?

Der Spielgel reports that the NSA regularly intercepts shipments of laptops and other electronic devices in order to implant physical listening devices and install advanced malware. This process, called interdiction, can give authorities instant remote access to a subject’s computer without them being any the wiser.

Interdiction is undertaken by the NSA’s superhacker team known at Tailored Access Operations (TAO). It is not impossible to deliver malware to a target computer after the fact, but the risk is far lower if the surveillance tools can be installed before a device reaches the buyer.

TAO is reportedly able to divert a computer order from a computer manufacturer to its network of secret workshops where the modifications can be made before returning the packages to the shipping company.

But if that bombshell isn't significant enough, Jacob Applebaum (@ioerror) at the 30th Chaos Communication Congress, dropped another stunner today.

Applebaum outlined the complete and detailed description of how the NSA bugs, remotely, your iPhone.

The way the NSA accomplishes this is using software known as Dropout Jeep, which it describes as follows:

"DROPOUT JEEP is a software implant for the Apple iPhone that utilizes modular mission applications to provide specific SIGINT functionality. This functionality includes the ability to remotely push/pull files from the device. SMS retrieval, contact list retrieval, voicemail, geolocation, hot mic, camera capture, cell tower location, etc. Command, control and data exfiltration can occur over SMS messaging or a GPRS data connection. All communications with the implant will be covert and encrypted."

The most disturbing thing, as Applebaum notes, is:

"Do you think Apple helped them build that? I don't know. I hope Apple will clarify that. Here's the problem: I don't really believe that Apple didn't help them, I can't really prove it but [the NSA] literally claim that anytime they target an iOS device that it will succeed for implantation. Either they have a huge collection of exploits that work against Apple products, meaning that they are hoarding information about critical systems that American companies produce and sabotaging them, or Apple sabotaged it themselves. Not sure which one it is. I'd like to believe that since Apple didn't join the PRISM program until after Steve Jobs died, that maybe it's just that they write shitty software."

So has the NSA hacked all iPhones, or is Apple working with the NSA to by pass the need to hack and is directly installing malware on your phone? The disturbing revelations continue.

And we humbly predict the repercussions from Snowden's whistleblowing (particularly economic repercussions) will ripple across the coming decades in a more profound way than did the events of Watergate in 1974 or the terrorist attacks of September 11th, 2001.

If you follow on twitter, we will continue to re-tweet important developments on this topic.

To see youtube clips of Applebaum's full presentation, follow this link to the Zero Hedge post.

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Realtor Carols?

The above was from Realtor Steve Missall. Next one comes from Realtor Patti Reid:

From Mike Pero Real Estate:

Realtor David Tubman:

Realtor Sue Eller:

From Karen Guy, REALTOR ~ Coldwell Banker Horizon Realty:

"Open House" (to the tune of Jingle Bells) again by Realtor Sue Eller:

And what holiday song collection would be complete without 'Carol of the Flippers':

Thankfully, the holiday season is almost over.

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Media Manipulation

As we look back on the year that was, the dominant theme of 2013 has been media manipulation by the real estate industry.'

Leading the way was MAC Marketing Solutions, the condo marketing firm exposed for lying to and deceiving the public on TV.

But MAC was only the most visible example this year.  Media manipulation in the real estate industry  has been a source of contempt by the likes of this site and other excellent venues like Garth Turner's blog.

Fake mansions, paid individuals in condo line ups to create 'buzz', monthly 'Franken numbers', real estate agents posing as buyers, the list goes on and on.

But nothing is as particularly galling as the real estate press release regurgitated as news. 

Pundits, such as Garth Turner, regularly rail against a lazy and corrupt media who allow themselves to be used as pawns by a gleeful industry more than happy to feed them content.

Each month you can do scan of the nation's media and see a story regurgitated virtually word for word in publication after publication and news broadcast after news broadcast.

And it isn't just the case for real estate. It is the disease of our media today and it is so widespread it has become comical. Check out this example which Conan O'Brien couldn't help but lambast on a recent show:

Why write your own story when you can simply rehash the script from a press release dropped in front of you.  Conan calls it 'scary' and 'frightening', an understatement if we ever heard one. But this type of media manipulation currently shapes everything you read, hear and watch.

Everything.

In the old days, we only had a few threats to fear when it came to media manipulation: the government propagandist and the hustling publicist. They were serious threats, but vigilance worked as a clear and simple defence They were the exceptions rather than the rule—they exploited the fact that the media was trusted and reliable.

The late Andrew Brietbart, a master media manipulator,  once said: “Feeding the media is like training a dog. You can’t throw an entire steak at a dog to train it to sit. You have to give it little bits of steak over and over again until it learns.”

And it's clear the major mainstream media has been well trained.

In our real estate focused country, that's what the real estate manipulator's have artfully achieved - they have trained the media. It's crucial to their business.

Thankfully there are bloggers like Turner, VREAA and the contributors to Vancouver Condo Info whose vigilance is omnipresent.

Today we salute you all.

(For a great holiday game, don't forget to check out: MAC Marketing's version of Where's Waldo")

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Boxing Day in China. What were they buying?

It's the day after  Boxing Day and last night's news was full of the craziness at the malls and shopping centres.  

While the North American consumer is rushing to spend what little savings they have left and grab that last deal from the local inventory-clearance bin on plastic Made in China trinkets or marked-down clothing, Chinese consumers are likewise scrambling to buy products.

Only, unlike in the North America, the object of China's affection is not some gizmo that will end up in the local landfill within 3-6 months. China News Network shows what it is.

Google Translated from Chinanews:

Gold price lower and lower end of the Christmas rush of people buying

Taiyuan a gold shop gold prices as low as 287 yuan / gram, people flocked buying gold jewelry. Western Christmas in China has gradually become the "Consumer Day", much of the gold market on this day after discounts, plus the price of gold hovering cheap Christmas discounts, and more gold has broken 300 yuan / gram mark.

With the recent stumble endlessly international gold prices, gold investment income in 2013 or will be achieved for the first time in 13 years is negative. As for 2014, the price of gold, most institutions are still bearish.

Publicly available data show that this year, gold prices fell more than 25%. The picture shows a gold shop in Taiyuan people flocked to buy.

(hat tip to Zero Hedge)

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Happy Boxing Day

What is Boxing Day, and why do Canadians celebrate it?

Every year Boxing Day is a holiday, a post-Christmas recovery for some, a chance to self shop for gifts at massive discount pieces for others.

Observed annually on December 26 in Canada, the U.K. and Commonwealth countries around the world, Boxing Day was traditionally the day employers would give their staff Christmas presents, called "boxes," to celebrate the season. 

There's no exact definition of Boxing Day, though some tie it to British servants who helped their lords and ladies with Christmas dinner and literally took home boxes (and got a day off) the next day. Samuel Pepys noted the existence of such boxes in his diary in 1663.

In Canada, as well as the U.K. and Australia, December 26 is now better known as a day for scooping up shopping deals, similar to Black Friday in the U.S. Most stores open their doors early and discount prices on items ranging from clothing to technology to appliances. In recent years, some shops have started their sales even before Christmas has begun, hoping for more spending from customers.

In other countries, December 26 has taken on a different name. In Germany, Poland, Scandinavia and the Netherlands, it's known as Second Christmas Day, simply extending the holiday for an extra day. In Ireland, they celebrate St. Stephen's Day, or the Day of the Wren, participating in parades in masks and suits.

But in modern times the day after Christmas is now usually a statutory holiday and the concept of servants is all but gone. As a result, as the Huffington Post notes, we now often give those 'boxes' to ourselves.

What ever it is you are doing today, Happy Boxing Day.

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Merry Christmas

Perhaps the happiest and most joyous times of your dutiful blogger's lives have come on Christmas morning/day.

Christmas Eve was a day of anticipation, last-minute preparations, or perhaps both.  But that always paled to the magic of Christmas Day!

It is a lifetime of memories that are renewed afresh each year when dragging out of ornaments (both antique and new) to turn a beautiful tree into a splendid one. Earlier this week wreaths were hung on doorways in memory of family traditions past.  We will awake today to repeat those traditions and create new memories.

Even if you don't celebrate Christmas as a religious holiday, it's such a festive time of year, a national holiday and a day of dinners with family and friends. Regardless of your beliefs and traditions, I hope you allow us to wish you the happiest of times and, if you will permit,  a very, Merry Christmas.

Thank you for making this blog a part of your daily rituals.

(For a great holiday game, don't forget to check out: MAC Marketing's version of Where's Waldo")

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Twas the Night Before Christmas

To all who come to this blog today we wish for you the happiest of holidays. Thank you for dropping by to indulge our thoughts, our viewpoints, our ramblings.

Holiday cheer to all the realtors, bloggers, R/E watchers and interested parties in precious metals and economic policy.

We enjoy this blog and we enjoy the emails/comments you send and post. If you pop by today, take a moment to leave a comment. We would love to hear from you.

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Happy Christmas to all... the best of the season to you and your families... and to all a good night.

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Mon Post #3: Adrian Salbuchi OP ED, "FED up? Hundred years of manipulating the US dollar"

A couple of quotes from an excellent Op Ed piece by Adrian Salbuchi, a political analyst, author, speaker and radio/TV commentator in Argentina. 

The article, marking the 100th anniversary of the creation of the US Federal Reserve, is titled: FED up? Hundred years of manipulating the US dollar

In a Public Broadcast System (PBS) interview on “News Hour” aired on September 18, 2007, US journalist Jim Lehrer had this Q&A session with former decades-long Fed Chairman (and JP Morgan bank officer) Alan Greenspan:

Jim Lehrer: “What is the proper relationship between a chairman of the Fed and a president of the United States?”

Alan Greenspan: “Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don’t frankly matter.”

Huh? If you’re a US citizen, you should re-read the above once or twice.

And,

But don’t think that the FED’s global financial enslavement system is simply aimed outside the US; it kicked off a century ago by first silently enslaving the very people of the United States it is supposed to serve.

Here’s how that works: every time the US Government decides to put money into circulation – those 1, 5, 10, 20, 50, 100 dollar bills we’re all so familiar with – instead of asking the government mint to print them at a penny’s cost in paper and ink, the government instead asks the private banksters at the Fed to print those bills for the Treasury, in exchange delivering to the Fed interest-bearing US Treasury Bills and Bonds, which translates into trillions of dollars’ in profits funneled to the private banking elite though the Fed.

It was all so well planned a hundred years ago, that just before the Federal Reserve Act was passed on December 23, 1913, they also maneuvered to close this parasitic circle, for if the US Government was to begin making gigantic interest payments to the Fed just for printing its own money, they first needed to have a revenue scheme in place to milk the American taxpayer: the Income Tax Act!

And,

Not that you haven’t been warned. In 1923, Minnesota representative, Charles Lindbergh, father of the famous aviator, sent an early warning: “The financial system has been turned over to the Federal Reserve Board which administers the finance system by authority of a purely profiteering group. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”

One final excerpt,

Even president John Kennedy understood this when he issued Executive Order No. 11110 on June 4, 1963, ordering the US Treasury to print zero-interest public money to the tune of 4.3 billion dollars, fully bypassing the Fed. But he too ran into some trouble in Dallas barely five months later on 22 November.

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