Until people understand the Federal Reserve scam that’s been in operation for almost a hundred years we’re all screwed no matter what. Research ‘money as debt’.

“If Americans ever allow banks to control the issue of their currency, first by inflation and then by deflation, the banks will deprive the people of all property until their children will wake up homeless”
– Thomas Jefferson

“Give me control of a nation’s money and I care not who makes her laws.”
– Mayer Amschel Rothschild

“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.”
-Henry Ford

“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States” — Sen. Barry Goldwater (Rep. AR)

“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it”. — Congressman Louis T. McFadden in 1932 (Rep. Pa)

“We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system…. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.” — Robert H. Hamphill, Atlanta Federal Reserve Bank

“A great industrial nation is controlled by its system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world–no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.” — President Woodrow Wilson

“I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.”
– Thomas Jefferson

“The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers … The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest…”

– Abraham Lincoln

“To expose a 15 Trillion dollar rip-off of the American people by the stockholders of the 1000
largest corporations over the last 100 years will be a tall order of business.” — Buckminster Fuller

“Every Congressman, every Senator knows precisely what causes inflation…but can’t, [won’t] support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job.” — Robert A. Heinlein

“…the increase in the assets of the Federal Reserve banks from 143 million dollars in 1913 to 45 billion dollars in 1949 went directly to the private stockholders of the [federal reserve] banks.” — Eustace Mullins

“Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits.” — SIR JOSIAH STAMP, (President of the Bank of England in the 1920′s, the second richest man in Britain)

“People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest …But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan.” — THOMAS A. EDISON

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Gasoline tumbled to a one-week low as consumption declined and refinery startups indicated fuel production will increase, boosting supplies.

Futures fell 1.3 percent as demand slid 5.3 percent last week, according to Energy Department data. Gulf Coast refineries are restarting after Hurricane Isaac. Philadelphia Energy Solutions has started a fluid catalytic cracker at the largest plant near New York Harbor, the delivery point for Nymex futures. Prices sank as much as 3 percent after the Federal Reserve announced plans for further economic stimulus.

“We lost nearly 500,000 barrels a day in demand last week,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “As we move further away from driving season, the expectation is demand is going to continue to taper off and there is going to be ample gasoline.”

October-delivery reformulated gasoline, or RBOB, fell 3.94 cents to settle at $2.9622 a gallon on the New York Mercantile Exchange. Gasoline’s discount to October heating oil widened 3.55 cents to 24.91 cents, its worst performance since Feb. 7.

Gasoline touched $2.9126, the lowest level since Aug. 6, after the Fed said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month in a bid to boost growth and reduce unemployment. Commodities have gained in recent weeks amid growing expectation of additional stimulus.

“The Fed statement is muted and people may be taking profit off the table,” Hamza Khan, an analyst at the Schork Group Inc., a consulting company in Villanova, Pennsylvania.

Motiva Norco

Motiva Enterprises LLC is running its Norco, Louisiana, refinery at normal rates for the first time since Aug. 30, according to two people familiar with refinery operations. Valero Energy Corp. (VLO) said today it has returned its St. Charles refinery to planned rates.

Delta Air Lines Inc.’s Monroe Energy LLC subsidiary will soon produce fuel at the Trainer, Pennsylvania, plant it bought from ConocoPhillips, adding additional supply to the market.

“Demand for gasoline fell off substantially as we have exited the summer gasoline driving season,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston. “With the return of the Sunoco cat and anticipated start of the Monroe Trainer refinery, the market expects RBOB supplies to improve substantially.”

Lower Demand

Consumption typically drops after the Labor Day holiday, which fell this year on Sept. 3. Emissions specifications in fuel loosen after the summer, making the fuel cheaper to produce and expanding available supply.

Regular gasoline at the pump, averaged nationwide, increased 1.1 cents to $3.869 a gallon yesterday, AAA data showed. That’s the highest level since April 20. The year-to- date high is $3.936, reached on April 4.

Heating oil for October delivery fell 0.39 cent to settle at $3.2113 a gallon on the exchange.

Prices earlier touched $3.248, the highest intraday level since April 3, as distillate supplies are 19 percent below year- earlier levels and the lowest for this time of year since 2004, according to Energy Department data.

“Heating oil is being supported by relatively low inventories,” Lipow said. “For now, the oil market backing off on less-than-expected quantitative easing.”

To contact the reporters on this story: Barbara J Powell in Dallas at bpowell4@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.

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Heating oil fell as Gulf Coast refineries started up after Hurricane Isaac last week knocked out 13 percent of the region’s fuel-making capacity.

Futures sank to a one-week low on speculation that production will increase, rebuilding supplies that dropped as flooding, power losses and disruption of crude oil supplies shut seven refineries and reduced output at four others. Valero Energy Corp. said most production units are back online today at its two Louisiana refineries.

“The inventory draws were due largely to a hurricane and things are going to return to normal,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut.

Heating oil for October delivery fell 2.92 cents, or 0.9 percent, to settle at $3.1176 a gallon on the New York Mercantile Exchange.

Supplies of heating oil, diesel and jet fuel probably decreased 1.55 million barrels last week, according to the median estimate of 12 analysts in a survey by Bloomberg. It would be the first decline in four weeks. The Energy Department is scheduled to report last week’s inventories at 11 a.m. tomorrow in Washington, one day later than usual because of the Sept. 3 U.S. Labor Day holiday.

Stockpiles of gasoline probably fell 3 million barrels last week, the sixth straight decline, according to the survey. Phillips 66 said today its Alliance refinery in Louisiana, one of seven plants shut because of the storm, lost power during a restart.

“Obviously, there are ongoing concerns about how fast the refineries can get back up,” said Phil Flynn, senior market analyst at Price Futures Group in Chicago.

October-delivery gasoline declined 0.24 cent to settle at $2.9498 a gallon on the exchange.

Regular gasoline at the pump, averaged nationwide, was unchanged at $3.824 a gallon yesterday, AAA data showed. The average has climbed 49.8 cents from the year-to-date low of $3.326 on July 1.

To contact the reporters on this story: Barbara J Powell in Dallas at bpowell4@bloomberg.net Paul Burkhardt in New York at pburkhardt@bloomberg.net.

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.

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