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Manifesto, by L. Neil Smith now downloadable as an audiobook!
Number 1,050, December 8, 2019

We live in nonsensical times

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Whence The Deep State?
by Jim Carter

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Attribute to L. Neil Smith’s The Libertarian Enterprise

Various writers lament the headless fourth branch of U.S. government and the Deep State. It is submitted to be the same force that has been active in imposing oppressive tyrants and economic exploitation in nations around the world for decades as documented by William Blum, Michel Chossudovsky, Michael Hudson, and others. John Perkins has more definitively identified Wall Street as the nexus—behind cutouts. Wall Street bankers have been repeatedly connected with political disruptions in Greece, Argentina, Venezuela, and Syria among others. Douglas Valentine [CIA AS ORGANIZED CRIME] has written that CIA actions he has witnessed worldwide in similar situations, with details revealed from interviews with agents, are being seen in the United States. Carroll Quigley claimed to have been inside the group. David Rockefeller touted it as utopian.

The Federal Reserve has been the object of public criticism for decades, but instances identifying specific malfeasance have never been levied. Specific accounting procedures are now alleged to be used by the Federal Reserve to purloin billions daily from the government for the benefit of Wall Street bankers. Ref.

The operational accounts of the 12 Federal Reserve Banks are audited by a national accounting firm and reported to Congress annually. What is NOT audited include client accounts which are exclusively managed by the FRBNY as fiscal agent for the government. These accounts disburse funds from the auctions of Treasury securities. Ref. 31 CFR 375.3. The accounts handle >$11 trillion annually. Over one trillion [new cash] seems to strangely disappear. Ref. The GAO has authority to audit any handling of government funds such as these upon request of any congressional committee. Such an audit has not occurred.

Bloomberg recently used FOIA to obtain production of Federal Reserve records:

"So long as records at the [Federal Reserve Banks] satisfy the plain language meaning of 12 C.F.R. § 261.2(i)(1), they qualify as agency records of the Board and are subject to FOIA requests. … Records of the Board include . . . all information coming into the possession and under the control of the Board, any Board member, any Federal Reserve Bank, or any officer, employee, or agent of the Board or of any Federal Reserve Bank, in the performance of functions for or on behalf of the Board that constitute part of the Board’s official files; or [records] [t]hat are maintained for administrative reasons in the regular course of business in official files in any division or office of the Board or any Federal Reserve Bank in connection with the transaction of any official business...The FRBs give all revenue in excess of expenses to the U.S. Treasury. 12 U.S.C. § 289 ." Bloomberg L.P. v. Bd. of Governors of Fed. Reserve Sys., 649 F. Supp. 2d 262, 274 (S.D.N.Y. 2009), aff’d, 601 F.3d 143 (2d Cir. 2010).

Wall Street’s involvement in the set-up of HMS Lusitania to pressure the US into military involvement in WW I. Ref. Wall Street had $450 million loan to Britain and more to other countries that would have defaulted if Germany won. Jacob Schiff invested $20 million in the Bolshevik revolution to seize the 600 million gold rubles held by the Czar. A USSR defector told Congress in 1946 that essential decisions that were not forthcoming from Moscow could be readily obtained from a Manhattan telephone number. It appears the USSR-Wall Street relationship was altered when the USSR declared bankruptcy and defaulted on Wall Street loans. The US-NATO invasion, and the current Ukraine-impeachment debacle appear to evidence a change. [Does the story of IMF, Goldman Sachs, lose of tens of tons of gold in Ukraine banks, and Jews, fit in with the Trump-impeachment fiasco ? Ref. Lt. Col. Vindman has been suspected of being CIA. Ref.]

Communist China was established by US policy so Wall Street could have a redundant straw enemy to justify unrestricted military spending. Ref. WHILE YOU SLEPT by John Flynn; HOW THE FAR EAST WAS LOST by Anthony Kubek. Richard Nixon dissolved the scam when he opened China for trade and the CIA hounded him out of office with bogus CIA evidence and endless MSM agitation. [Does this sound familiar ?] RMN’s midnight massacre of 1700 CIA agents and his closing of the CIA school at Leadville training Tibetans to invade China may have also been factors.

Robert Stinnett used FOIA to obtain government documents that Wall Street connived with their crony FDR for 17 months to pressure Japan to attack Pearl Harbor. Ref. DAY OF DECEIT. Wall Street feared the industrial competition of Japan. In Europe, Hitler was pictured as Man of the Year on the cover of TIME magazine and received funding from Wall Street according to Antony Sutton, but that was all altered after Hitler attacked Wall Street’s puppet state USSR.

David Talbot and Stephen Kinzer have each written that Wall Street used their crony Allen Dulles to set up the CIA to conceal their nefarious acts behind national security. The CIA’s first coup was led by Kermit Roosevelt to restore the Shah to the Iranian throne so Wall Street oil moguls could acquire control of and rape the British Petroleum oil fields that had been nationalized. National domination, wars, and coups by debt have became the modus operandi of Wall Street to replace military invasion. Ref. The government of the U.S. received no benefit from the Iranian coup or any other coup yet the US taxpayers must pay for the CIA coup and worldwide US military enforcement in seven active theaters.

John Perkins in CONFESSIONS OF AN ECONOMIC HIT MAN, Stephen Kinzer in THE BROTHERS, David Talbot in DEVIL’S CHESSBOARD, William Blum, and others identify the CIA, and also the US military, as the operating arms of Wall Street—along with the IMF and WB. Recent actions have seen direct State Department, DOJ, and FBI involvement.

It is concluded the Deep State is being funded by embezzlement utilizing the accounts of Treasury security auctions. The testimony of State Department agents, and of the US military representatives, who recently testified they were motivated in their duties in Ukraine to support military hostility toward Russia which was not in compliance with the guidelines of the President is submitted to evidence the depth that Wall Street now controls the U.S. government and their hostility to any progression to peace. Greg Palast has written of an internal Wall Street memo identifying collection on the $20 trillion US National Debt to be the “ultimate goal.” One potential sequence that Wall Street might use to seize assets of the U.S. by bankruptcy is detailed at

The Federal Reserve accounts are subject to FOIA requests. Inquiry as to a closely-held corporate ownership of the FR Board of Governors would be a relevant factor. If you agree with this analysis, knowledge of any entity [lawyer ? accounting firm ?] that might be interested in participating in, or endorsing, a FOIA suit would be appreciated.

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