The greatest fraud in history

Hagmann P.I.
September 19, 2012
The greatest fraud in history

By Douglas J. Hagmann

Too few Americans are prepared for what’s coming our way. We are facing a grave crisis that will have a dramatic effect on every American citizen, our national security and our very way of life. It is the asymmetrical warfare of financial terrorism, and the U.S. politicians, the central bankers, the global leaders are the terrorists. Sound harsh? Absolutely. Frightening? Although a healthy dose of fear is indeed warranted, it should not paralyze you, but compel you to act. Preparation is an effective antidote for fear.

But prepare for what? I’ll admit that I was never that good in Economics classes as I found them to be very boring. Even today, I find the talk of derivatives, toxic assets, off balance sheet loans, and so on to be complex and hard to follow. I suspect I’m not alone in thinking this way. It was not until gas reached almost $5.00 per gallon in 2008 and I realized that I had “more month than money” that I wanted to know everything I could about what’s going on in the financial world.

Having accepted that I’m only good at a few things, one being an investigator, I decided to spend as much time as possible investigating the who, what, when, where, why and how behind our current economic situation. Why are we going broke as a nation, and why are we, as Americans, running out of money before the end of the month while our standard of living declines as well?

What I found disturbed and alarmed me. The challenge now is to articulate my findings so everyone is able to understand given the complexity of the subject. That’s no reflection on you as a reader, but an indictment of our elected and appointed “leaders” who deliberately cover their greed and financial criminal activity by talking in a manner that only a select few can understand. However, one thing I understand is fraud, which is what is being perpetuated on everyone reading these words. Hopefully, I’ll be able to convey the urgency at hand, and plainly explain how we are being systematically robbed and looted, and the fallout that will result.

The Bernanke announcement

In the event you missed the financial news last week as a result of the coverage from the Middle East tinderbox, the Federal Reserve under Fed Chairman Ben Bernanke announced round three of bond purchases, or QE3, for an indefinite period. An open-ended purchase by the Federal Reserve of U.S. Treasury bonds, or our country’s debt to the tune of $40 billion per month. This is in addition “Operation Twist,” which is a program where the Federal Reserve is already buying $45 billion in long-term bonds, scheduled to last through the end of the year.

Perhaps you’re thinking, so what? What does that have to do with me? Perhaps you’ve read today’s Washington Post article by Sharon Jenkins titled “Fed action a welcome move for small businesses,” that explains why we should be grateful to Bernanke for this monetary policy. Additionally, the mainstream media continues to tell us we are in a recovery, and that job growth and our overall financial health is improving. My only question for Ms. Jenkins is whether she actually believes what she is writing because the unbiased truth, based on my investigative findings, resembles nothing in her article.

Her article reminds me of a quote attributed to Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” That is my belief as well.

The actions of Ben Bernanke, the Federal Reserve, and the Obama administration, with the blessings of nearly every elected and appointed official just sealed the demise of the U.S. dollar by launching an indefinite round of creating digital money backed by nothing, for the purpose of buying our own debt. Doing so ultimately makes our paper money worth less and soon to be worthless. In other words, it will take more money to buy food, gas, clothes, school supplies and pay for all goods and services.

Everyone with U.S. dollars in pension plans, savings, and retirement accounts are about to lose much, if not all of their savings. Why? Because by creating more digital money from nothing will significantly devalue the dollar to the extent that it will take more and more of them to pay for the same goods and services yesterday, last week, last month and last year. We are witnessing a state sanctioned Ponzi scheme that is nearing its end, as the process will ultimately collapse upon itself. It is now a mathematical certainty.

I must be clear that this is not a Republican-Democrat issue as both sides of the political divide are equally responsible for our coming demise. Furthermore, the financial fraud did not begin with Obama, but was accelerated by his policies and every elected official who has remained silent, regardless of their political affiliation. Nonetheless, the biggest benefactors in the short term, meaning until or after the November 2012 U.S. elections, are the incumbent politicians, including but not limited to Obama.

Wait, you might ask, isn’t this latest action simply an extension of our monetary policy that’s been employed for the last few years? The answer is not really. Fed actions such as QE1 and QE2 (creating money from nothing parts 1 and 2) were at least limited in scope. They had time and dollar limits. Bernanke’s latest action is basically telling the public, without really telling us, that nothing more can be done for the patient that is the American economy. We are out of options.

How everything changed

We are borrowing money to pay for prior debt created by fraudulent banking practices that was a direct result of the repealing of the Glass-Steagall Act. For those unfamiliar with the Glass-Steagall Act, it was signed into law in 1933 and (for the sake of brevity) prevented banks from becoming the equivalent of casinos, using your money to place bets. While one may cite the creation of the Federal Reserve in 1913 as the beginning of the end, I’ve omitted this for the sake of brevity.

Anyway, a lot of things happened between 1933 and 1999, when the Glass-Steagall Act was repealed and replaced with the Gramm-Leach-Bliley Financial Modernization Act of 1999. The GLBA had nearly bipartisan support and was signed into law on November 12, 1999 by former President Clinton. One major event took place on a hot summer night in August, 1971 when then-President Richard Nixon took the U.S. off the gold standard. Those old enough to recall that change might remember that Nixon interrupted an episode of Bonanza to make his announcement.

Perhaps as a sign of the stupor of the American public, people were more upset over the pre-emption of the weekly television series than the announcement itself. It seems nothing has changed. In fact, people today seem to be in a much deeper, pharmaceutically induced slumber.

To illustrate how quickly we are headed for financial collapse, please consider the following. Since 2008, our national debt has risen more than 60% to more than $16 trillion. During that same period, the median net worth of American families dropped from $126,400 to $77,300 (in 2010) and even less today. The real unemployment rate, if Obama and his financial wizards had not changed how the number is calculated, is 11.2 percent. Using methods for calculating unemployment from years ago, that number would actually exceed 20 percent. Also, the net worth of every American has taken a tremendous downward hit since 2008. In 2008, just over 19 percent of all American families had a net worth of zero or less. That number jumped dramatically to 32.5 percent in 2010, and is even greater today. This alone shows should sufficiently illustrate that the middle class is under attack.

Again, it is important to understand that this process has been implemented with the consent of both political parties, and is unlikely to change before an economic implosion occurs.

The financial end-game

What we are seeing here is the orchestrated attack on the American dollar by our own government officials and elected leaders. But why? As an investigator, I could not figure out the motive of our own leaders deliberately tanking our economy. Is it greed? Well, that’s part of it, as much of the money being pumped into the economy is winding up in the coffers of the “too big to fail” (too big to jail, apparently) banks and financial institutions. They are controlling the money supply and by doing so, the population.

There is an overriding aspect that exceeds greed as a motive, and that’s power. Unbridled, evil and unchecked power by a group of globalists and a compliment of co-conspirator bankers who bring down countries by debasing their currencies.

When the news hit yesterday that U.S. automaker General Motors wanted out from under government control and the U.S., under Obama, said no, the plan that is afoot began to become even clearer. I immediately recalled a book (found during my research) titled The Vampire Economy by Guenter Reimann. Written in 1939, Mr. Reimann explains how under Hitler, the Nazis steamrolled the German economy through the very tactics we are seeing today. They destroyed their own economy at the expense of the private sector, and nationalized the remaining portion of the economy.

Perhaps even more disconcerting is that The Vampire Economy is the subject of a book originally published in 1956 by Carl J. Friedrich and Zbigniew Brzezinski titled Totalitarian Dictatorship and Autocracy. The work reads like a blueprint for the globalist agenda we are seeing playing out today.

Therefore the motive for the complete destruction of the American dollar, it would appear, is to create a global currency to replace the defunct dollar, deliberately destroyed at the hands of those in power today and in recent years. In addition to greed, the motive is ultimate power and control.

The means is through the implementation and subsequent debasement of a fiat currency, done under the cover (or perhaps through) maintaining perpetual war, much like what has been detailed in the two books referenced above. War and the more recent threat of terrorist activities also provides the opportunity to implement an authoritarian or even totalitarian form of government, which we see taking place in the form of 360 degrees of surveillance, the implementation of the NDAA, and other measures that will become useful during the coming economic collapse.

In summary, we’ve been set up, and continue to be set up, by every elected and appointed official in power on a national level today.


How does one prepare for what’s coming? First, don’t listen to the corporate media, for they are the lapdogs for those who are engineering our destruction. Question everything, especially the various economic numbers being tossed around and the assertion that our economy is in a “recovery.” We are being lied to. Please do your own research and homework about what’s best for your own situation.

Also, stock up on food items and consumables that you will need for an extended period, and be prepared to protect them as well. Most importantly, become mentally and spiritually prepared for the times ahead.

HAGMANN P.I. (Doug Hagmann)
Private Investigator for over 35 years. TV Host, Radio Host and Author.

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