tagged w/ Federal Reserve
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What would happen if the Federal Reserve was shut down permanently? That is a question that CNBC asked recently, but unfortunately most Americans don't really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people. But that is not the case at all. The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt. During this election year, the economy is the number one issue that voters are concerned about. But instead of endlessly blaming both political parties, the truth is that most of the blame should be placed at the feet of the Federal Reserve. The Federal Reserve has more power over the performance of the U.S. economy than anyone else does. The Federal Reserve controls the money supply, the Federal Reserve sets the interest rates and the Federal Reserve hands out bailouts to the big banks that absolutely dwarf anything that Congress ever did. If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve.What would happen if the Federal Reserve was shut down permanently? That is a... more
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Created by Christian Malazarte
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Judge Napolitano On With Cavuto Talk About The ‘Phenom’ Ron Paul
http://youtu.be/-xmYmRZrnKcJudge Napolitano On With Cavuto Talk About The ‘Phenom’ Ron Paul... more
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This is a great essay. It's a bit older, but worth revisiting as we are in the presidential campaign season and I've not heard any candidate, not even Ron Paul speak about possibly the greatest heist in world history. And the media is more than happy to keep waving abortion, race, religions (insert your favorite wedge issue here) in our faces day after day.
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I wrote Arrogance Of A Banker. I thought that would stir someone up enough to do something, but it didn’t.
This is how my friends and I stole 2.2 trillion dollars of your money in the 1990s and more since. The Treasury sells bonds to pay the deficit using the New York branch of the Federal Reserve and what are called Primary Dealers. What we did was really simple. We just sold 2.2 trillion dollars in Treasury bonds over and above what the deficit required in the 1990s. All you had to do to arrest everyone in Wall Street was to examine the books at Cantor Fitzgerald’s offices at One World Trade Center on the 101st to 105th floors. Too bad all the evidence went up in smoke on 9-11-2001.
There were no repercussions for taking down the World Trade Center with nanothermite and controlled demolitions. Well timed and placed explosions turned 440,000 cubic yards of concrete (336,404 cubic meters) into dust in less than 3 seconds but most people believed that jet fuel alone did that. What a laugh.
That was so funny and made so much money for us that we decided to do it again. We sold 1.5 trillion more in bonds than the deficits required over a period of 45 months. So far nothing has happened. I know we can’t cover it up by blowing up the World Trade Center again. But we can always launch World War III. We were planning another war anyway.
I need to make something perfectly clear that people do not seem to understand. Catherine Austin Fitts has been telling people about the billions of dollars that goes missing every week from government spending. She was at Housing and Urban Development and said 59.3 billion dollars went missing from HUD in just two years. Most of you know that Donald Rumsfeld and rabbi Dov Zakheim, the Comptroller of the Pentagon, admitted on 9-10–2001 that 2.3 trillion dollars went missing from the Department of Defense. Fortunately, neither Rumsfeld nor Zakheim were looking for that missing money on 9-11-2001 because Flight 77 just happened to crash into the Pentagon auditing section and killed the auditors who were hot on the trail of the missing trillions.
The money Catherine said has been stolen from federal spending – you as a mere peasant are not allowed to audit – is in my estimate about 4 billion dollars a week. But that is completely separate from the money we pocket from selling phony Treasury bonds.
Let me give a clear example so even the dumbest Christian Zionist can understand. In June of last year approximately 17.3 billion dollars (at a rate of 4 billion dollars a week for 4.3 weeks) was stolen from unaudited government spending. But for the sake of believability I will cut that estimate by 3 billion down to 14.3 billion dollars. This helped run the deficit up from 53.7 billion dollars to 68 billion. So the Treasury in June of last year had to raise a total of 68 billion including the 14.3 billion Catherine was speaking about. The New York FED and the primary dealers sold a total of 211 billion dollars. If you subtract the 68 billion actually needed from the 211, you get a total of 143 billion dollars we pocketed from the sale of phony Treasury bonds. Now go back and add in the 14.3 billion to the 143 billion and you get a total of 157.3 billion dollars we stole in just one month from you.
Like I said, “What are you going to do about it?”
Cont...This is a great essay. It's a bit older, but worth revisiting as we are in the... more
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www.youtube.com/watch?v=DDTd4byn_fI
Ron Paul setting the record straight again on the debunked charge of the newsletters written by James B. Powell.
You may recall that all of the people pushing this story were originally screeching and squawking and swearing up and down that they could "PROVE" that Ron Paul wrote the newsletters.
Plus, Ron Paul addresses real issues like the college tuition, war, and the economy.www.youtube.com/watch?v=DDTd4byn_fI
Ron Paul setting the record straight again on... more
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Financial Dictator of America and head of the Federal Reserve Private Banking Cartel statement following January meeting.Financial Dictator of America and head of the Federal Reserve Private Banking Cartel... more
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In other words the Federal Reserve Private Banking Cartel is out of bullets to "help" the economy, but we've suspected that they were going to be worthless for like four years now.
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The Federal Reserve on Wednesday said it will likely not raise interest rates until at least late 2014, much later than it had said previously, as it nurses a still-sluggish economic recovery.
The Fed, after a two-day policy meeting, repeated its view that the economy faces "significant downside risks" but it offered little to suggest it was close to launching another round of bond-buying to prop up growth.
Many investors had expected the Fed to push its expectations for the first rate hike into 2014, but few had thought it would be late in the year. After every previous policy meeting dating back to August, the Fed had said rates were not likely to rise until mid-2013.In other words the Federal Reserve Private Banking Cartel is out of bullets to... more
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In yet another attempt to ‘ensure our liberties’, congress is currently debating Stop Online Piracy Act – aka SOPA. The very fact that their current laws are unenforceable due to a lack of personnel and funding, congress apparently feels that more laws are the answer…again. In their twisted heads, they seem to believe that by denying a dns (domain name service) entry onto the web via its ISP (Internet Service Provider), they can somehow save money. Just a few minor holes into this thing that I would like to shoot down right now.
1 – Smaller ISP’s are to be more impacted by this than the larger ones – small wonder as to why the big dogs in the major Companies support this nonsense (for a list of supporting companies, go t......
http://peacefreedomprosperity.com/6151/12-reasons-why-sopa-is-worse-than-you-think/In yet another attempt to ‘ensure our liberties’, congress is currently... more
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I am pretty sure I posted this last year, but it is well worth watching again. My friend who turned me on to this Video is an Agnostic. I was like Dude you would be the LAST person I would expect a Rod Parsley forward from.
He then went on to explain how Reverend Parsley breaks down the Federal Reserve in easy numbers and facts. Forget the guy is a Preacher and listen to the first 5 minutes. I guaranteed you will forward the Video to everyone you know!
The Powers that be KNOW as long as they can keep us arguing about BS like food stamps they can keep robbing us blind.I am pretty sure I posted this last year, but it is well worth watching again. My... more
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Yeah right like Obama decides who is going to head the World Bank. This World Bank/IMF Wall Street cabal runs Obama just like they ran Bill Clinton.
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President Barack Obama is considering nominating Lawrence Summers, his former National Economic Council director, to lead the World Bank when Robert Zoellick’s term expires later this year, according to two people familiar with the matter.
Summers has expressed his interest in the job to White House officials and has backers inside the administration, including Treasury Secretary Timothy Geithner and the current NEC Director, Gene Sperling, said one of the people. Secretary of State Hillary Clinton is also being considered, along with other candidates, said the other person. Both spoke on condition of anonymity to discuss internal White House deliberations.
Lael Brainard, the under secretary of Treasury for international affairs, is compiling a list of potential candidates to replace Zoellick, who was nominated to a five-year term that began in July of 2007 by then-President George W. Bush. By tradition, the U.S. president chooses the leader of the World Bank while the head of the International Monetary Fund is selected by European leaders. The nomination is subject to approval by the World Bank’s executive board.Yeah right like Obama decides who is going to head the World Bank. This World Bank/IMF... more
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News rewritten the way it should be.
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Grassroots-Made Video: Ron Paul’s 2002 Predictions All Come True http://ronpaulflix.com/?p=4048
What, are you afraid of real change?Grassroots-Made Video: Ron Paul’s 2002 Predictions All Come True... more
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While covering the Iowa caucus, NBC’s Nightly News Andrea Mitchell said that the state’s influence on the presidential selection process had been lessened due to its lack of diversity.
“The rap on Iowa, it doesn’t represent the rest of the country,” she said. “Too white, too evangelical, too rural. Still here, politics are personal.”
According to a Census 2010 report, over 91 percent of Iowa’s population is white. The state kicks off the nation’s presidential election season tomorrow with its Republican caucuses.While covering the Iowa caucus, NBC’s Nightly News Andrea Mitchell said that the... more
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At the Mitt Romney event on 1/1/12 in Council Bluffs, Iowa.
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Hackers say to publish emails stolen from Stratfor
Iran threatens to stop Gulf oil if sanctions widened
Preventive care: It’s free, except when it’s notHackers say to publish emails stolen from Stratfor
Iran threatens to stop Gulf oil if... more
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Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders."
– The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s
The Federal Reserve (or Fed) has assumed sweeping new powers in the last year. In an unprecedented move in March 2008, the New York Fed advanced the funds for JPMorgan Chase Bank to buy investment bank Bear Stearns for pennies on the dollar. The deal was particularly controversial because Jamie Dimon, CEO of JPMorgan, sits on the board of the New York Fed and participated in the secret weekend negotiations.1 In September 2008, the Federal Reserve did something even more unprecedented, when it bought the world’s largest insurance company. The Fed announced on September 16 that it was giving an $85 billion loan to American International Group (AIG) for a nearly 80% stake in the mega-insurer. The Associated Press called it a "government takeover," but this was no ordinary nationalization. Unlike the U.S. Treasury, which took over Fannie Mae and Freddie Mac the week before, the Fed is not a government-owned agency. Also unprecedented was the way the deal was funded. The Associated Press reported:
"The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs."2
This is extraordinary. Why is the Treasury issuing U.S. government bonds (or debt) to fund the Fed, which is itself supposedly "the lender of last resort" created to fund the banks and the federal government? Yahoo Finance reported on September 17:
"The Treasury is setting up a temporary financing program at the Fed’s request. The program will auction Treasury bills to raise cash for the Fed’s use. The initiative aims to help the Fed manage its balance sheet following its efforts to enhance its liquidity facilities over the previous few quarters."
Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):
"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
"To switch debt that is less liquid for U.S. government securities that are easily tradable" means that the government gets the banks’ toxic derivative debt, and the banks get the government’s triple-A securities. Unlike the risky derivative debt, federal securities are considered "risk-free" for purposes of determining capital requirements, allowing the banks to improve their capital position so they can make new loans. (See E. Brown, "Bailout Bedlam," webofdebt.com/articles, October 2, 2008.)
Continued............
http://www.globalresearch.ca/index.php?context=va&aid=10489Some people think that the Federal Reserve Banks are United States Government... more
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Instead of just protesting in the street and getting their skulls cracked by the local law enforcement thugs who are an arm of the 1%, why don't people go into the congressional buildings and just talk to their representatives?
A new movement is needed, one that rejects the extremes and the labels of left and right.
I propose calling it America 1-2-3 as in America first second and third.
All we need are a few signs, America 1-2-3 or USA 1-2-3 etc and this is going to work. There are so many people who want to join in a movement against the wars, bailouts, and fed. But they don't want to be associated with the Tea-o-con statist or the OWS statists.
No left, no right. These are issues America first second and thirders can all agree on. Who cares if we alienate the facist and the communists? I say good.
There needs to be a clear message not a generic one:
1 No more pointless war.
These wars are immoral based on deception and unaffordable.
They do not serve American interests. The serve private interests, and Israeli interests, to America's own detriment.
2 No Bailouts
Bailouts for criminals gambling with counterfeit money is itself theft.
3 Begin Ending the Fed
The fed enables secret bailouts, and inflated war spending, which is destroying the US economy. Lets have a full Audit to find out who their friends are, and then begin the transition away from the fiat debt as money system.Instead of just protesting in the street and getting their skulls cracked by the local... more
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Imagine you walked into a bank, applied for a personal line of credit, and filled out all the paperwork claiming to have no debts and an income of $200,000 per year. The bank, based on these representations, extended you the line of credit. Then, three years later, after fighting disclosure all the way, you
were forced by a court to tell the truth: At the time you made the statements to the bank, you actually were unemployed, you had a $1 million mortgage on your house on which you had failed to make payments for six months, and you hadn’t paid even the minimum on your credit-card bills for three months. Do you think the bank would just say: Never mind, don’t worry about it? Of course not. Whether or not you had paid back the personal line of credit, three FBI agents would be at your door within hours.
Yet this is exactly what the major American banks have done to the public. During the deepest, darkest period of the financial cataclysm, the CEOs of major banks maintained in statements to the public, to the market at large, and to their own shareholders that the banks were in good financial shape, didn’t want to take TARP funds, and that the regulatory framework governing our banking system should not be altered. Trust us, they said. Yet, unknown to the public and the Congress, these same banks had been borrowing massive amounts from the government to remain afloat. The total numbers are staggering: $7.7 trillion of credit—one-half of the GDP of the entire nation. $460 billion was lent to J.P. Morgan, Bank of America, Citibank, Wells Fargo, Goldman Sachs, and Morgan Stanley alone—without anybody other than a few select officials at the Fed and the Treasury knowing. This was perhaps the single most massive allocation of capital from public to private hands in our history, and nobody was told. This was not TARP: This was secret Fed lending. And although it has since been repaid, it is clear why the banks didn’t want us to know about it: They didn’t want to admit the magnitude of their financial distress.
The banks’ claims of financial stability and solvency appear at a minimum to have been misleading—and may have been worse. Misleading statements and deception of this sort would ordinarily put a small-market player or borrower on the wrong end of a criminal investigation.
So where are the inquiries into the false statements made by the bank CEOs? And where are the inquiries about the Fed and Treasury officials who stood by silently as bank representatives made claims that were false, misleading, or worse?
Only now, because of superb analysis done by Bloomberg reporters—who litigated against the Fed and the banks for years to get the information—are we getting a full picture of the Fed and Treasury lending. The reporters also calculated that recipient banks and other borrowers benefited by approximately $13 billion simply by taking advantage of the “spread” between their cost of capital in these almost interest-free loans and their ability to lend the capital.
In addition to the secrecy, what is appalling is that these loans were made with no strings attached, no conditions, and no negotiation to achieve any broader public purpose. Even if one accepts the notion that the stability of the financial system could not be sacrificed, those who dispensed trillions of dollars to private parties made no apparent effort to impose even minimal obligations to condition the loans on the structural reforms needed to prevent another crisis, made no effort to require that those responsible for creating the crisis be relieved of their jobs, took zero steps towards the genuine mortgage-reform that is so necessary to begin a process of economic renewal. The dollars lent were simply a free bridge loan so the banks could push onto others the responsibility for the banks’ own risk-taking.
http://t.co/sb5MS9VIImagine you walked into a bank, applied for a personal line of credit, and filled out... more
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What you are about to read should absolutely astound you. During the last financial crisis, the Federal Reserve secretly conducted the biggest bailout in the history of the world, and the Fed fought in court for several years to keep it a secret. Do you remember the TARP bailout? The American people were absolutely outraged that the federal government spent 700 billion dollars bailing out the "too big to fail" banks. Well, that bailout was pocket change compared to what the Federal Reserve did. As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars in nearly interest-free money to the "too big to fail" banks between 2007 and 2010. So have you heard about this on the nightly news? Probably not. Lately Bloomberg has been reporting on some of this, but even they are not giving people the whole picture. The American people need to be told about this 16 trillion dollar bailout, because it is a perfect example of why the Federal Reserve needs to be shut down. The Federal Reserve has been actively picking "winners" and "losers" in the financial system, and it turns out that the "friends" of the Fed always get bailed out and always end up among the "winners". This is not how a free market system is supposed to work.What you are about to read should absolutely astound you. During the last financial... more
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The central banks of the world are acting as if it is 2008 all over again. Desperate times call for desperate measures, and right now the central bankers are pulling out all the stops. The Federal Reserve, the European Central Bank, the Bank of England, the Bank of Canada, the Bank of Japan and the Swiss National Bank have announced a coordinated plan to provide liquidity support to the global financial system.The central banks of the world are acting as if it is 2008 all over again. Desperate... more
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