Caesar Bernanke Crosses Rubicon

(Conspiracy Nation, 03/30/08) – He came. He saw. He conquered. Caesar Bernanke has crossed the Rubicon.

It was on March 13th of this year that British journalist Ambrose Evans-Pritchard announced that Bernanke had crossed the Rubicon. “The Fed will now accept $200bn of mortgage debt as collateral. The Rubicon has been crossed,” reported the financial editor of the London Telegraph newspaper. (“US mortgage implosion set to blow Darling's Budget to pieces”)

“The Rubicon” avers to action taken by a previous Caesar (Julius) in 49 B.C. Once the Rubicon river had been crossed, there was “no turning back.” But by leading his legions across the Rubicon, Julius Caesar began a civil war.

Two days after the March 13th crossing of the Rubicon by Caesar Bernanke, the crux of a suspicious deal went down. On Saturday, March 15, 2008, the Ides of March, high-pressure arm twisting appeared to suddenly give Bear Stearns no choice except to sell itself to J.P. Morgan. James Dimon, CEO of J.P. Morgan, also serves as a “Class A Director” of District 2 of the “Federal” Reserve Bank. Because this same “Federal” Reserve played a crucial role in the Ides of March deal, Senator Chris Dodd has broached the possibility of there having been a conflict of interest. (Background: “Iceland: Too Big To Fail”, http://www.shout.net/~bigred/Iceland.html)

Progenitor of the J.P. Morgan firm was its namesake, John Pierpont Morgan. In 1910, his representatives boarded a secret train bound for Jekyll Island, Georgia. Besides Henry P. Davison, senior partner of the J.P. Morgan company, Charles D. Norton, president of Morgan's First National Bank of New York, and Benjamin Strong, head of Morgan's Bankers Trust Company, Paul M. Warburg, a partner in Kuhn Loeb, as well as other big shots were aboard. As exists today, there was then a “banking crisis.” Reckless banks had “loaned up” -- lending more than would leave a prudent 10 percent cash reserve. Some banks had been especially irresponsible, maintaining as little as a 1 percent cash reserve. (“The Creature From Jekyll Island,” by G. Edward Griffin. American Media, 1994. ISBN: 0-912986-21-2)

From the Jekyll Island secret meeting, a private money monopoly was born: the “Federal” Reserve. “...[T]o create the impression that there would be no concentration of power, [the plotters] would establish regional branches of the cartel...” (Ibid.)

Caesar Bernanke had been making forays beginning in December 2007. He established a fighting unit called the “Term Auction Facility.” The “Fed” began to auction “term funds” to “depository institutions.” All cash advances had to be “fully collateralized”, usually by securities not “marked to market” but “marked to pipe dreams.” The elite “Term Auction” legion began cautiously. Dubious securities netted $30 billion on Jan. 14, 2008, and again on Jan. 28, 2008, Feb. 11, 2008, and Feb. 25, 2008, respectively. Emboldened by their success, Caesar Bernanke's “Term Auction” legionnaires scored big on March 10th and March 24th, respectively: a $50 billion haul on each occasion.

On his march to the Eternal City, where he will appear before senators this Wednesday, April 2nd, Caesar Bernanke is not known to be nervous. He anticipates no tough questions from the senators. The mass media, if it reports at all, is likely to fawn over Mighty Caesar Bernanke. Some even suggest an apotheosis of Bernanke, as occurred with former “Fed” chief Alan “Maestro” Greenspan. One suggested title: Ben “Zeus” Bernanke.

Conspiracy Nation

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