Posted on 04/20/2012 8:02:37 AM PDT by IbJensen
Despite stonewalling by Federal Reserve Chairman Ben Bernanke and his cronies in the moneyed institutions of privilege, the recent partial Fed audit and dribbled-out documents sought by news organizations under the Freedom of Information Act are revealing an astounding level of corruption in the institution.
There is a revolving door between the Fed boards and the “too-big-to-fail” financial institutions like Citibank, Bank of America, JP Morgan, Goldman Sachs, Wells Fargo, etc. This, of course, we knew. What we didn’t know — but suspected — was the speed at which the door revolved.
At the time we were being warned by President George W. Bush and former Treasury Secretary Hank Paulson (formerly of Goldman Sachs) that something had to be done to save the large financial institutions that were teetering on the brink of bankruptcy because of their own debauchery, there were 18 Federal Reserve Board members who were previously high-level executives of the “too big to fails” that were in line to receive the bailouts, according to a GAO report. And 76 percent of Fed board members also own or owned stock in those same institutions.
After spending time on the Fed board and determining whether those financial institutions lived or died and acquiring insider information available only to Fed board members, those members then return to the banks as executives who set the future policy for those banks. Now, according to Senator Bernie Sanders (I-Vt.), the top six financial entities have assets the equivalent of 65 percent of the United States gross domestic product.
Those entities spend billions of dollars to lobby Congress and finance Congressional campaigns and buy Presidents (they own both Barack Obama and Mitt Romney).
While laws in Europe and Australia prevent their central bank board members from similar conflicts of interest, there are no such laws regulating Federal Reserve board members.
The Federal Reserve is a criminal enterprise that is looting the savings and investments of Americans for the benefit of a privileged elite class. Very few people understand this, even though I and others have been saying it for many years, enduring ridicule and disdain all the while. But thanks to the efforts of people like Bernie Sanders and Ron Paul in Congress, and a very few diligent reporters like Dylan Ratigan, the truth is getting into the mainstream for all to see.
It is indeed a shame that so few in America understand the depth to which the greedy tentacles of the Fed are embedded in fabric of our daily lives. There can be little doubt that the coming financial tsunami, that which will make this recession look like child’s play, will be the direct result of the insane monetary policies of the Fed, combined with the profligate fiscal irresponsibility of the socialist venture.
Projections seem to indicate that the BIG crash will come within the next two years.
However, if they ingratiate themselves to the Wall Street bigs, perhaps there's a high six figure salary awaiting them.
Q: Who investigates the investigators?
A: No one.
Who voted for the bailouts, the FED or Congress? Congress.
How much of the TARP loans were repaid with interest? 100%
Why haven't we seen the massive inflation that has been forecasted since 2008? We've seen some but certainly not massive amounts. It's because the money supply boost was just offsetting the drop in the money supply due to the credit crisis.
“Power attracts the corruptible. Absolute power attracts the absolutely corruptible. This is the danger of entrenched bureaucracy to its subject population. Even the spoils systems are preferable because levels of tolerance are lower and the corrupt can be thrown out periodically. Entrenched bureaucracy seldom can be touched short of violence. Beware when Civil Service and Military join hands.”
Frank Herbert
That's why the FDIC was separate from the FED. It's still a valid question, but the FED doesn't investigate banks. The FED makes loans and sets reserve policies and stabelizes foreign exchange markets.
Fed. Reserve corruption? That’s like saying Charlie Sheen has had a couple drinks and done a little drugs in his life. Satan himself probably helped hatch this thievery/debt/slavery scheme.
Interesting. How about this? The two top Swiss banks have debts that equal seven times the GDP of the country of Switzerland. Deutsche Bank's debts alone are higher than the entire GDP of Germany. These European banks are Dead Men Walking.
How far behind are we?
We have astounding level of corruption in every gov dept.
And it starts frome the top down.
“Who voted for the bailouts, the FED or Congress? Congress”.
Secretary of the Treasury Henry Paulson threatened with martial law and the DJII dropping a thousand points a day for a number of days.
“How much of the TARP loans were repaid with interest? 100%”
A number of them were simply paid for with other government loans, which are still outstanding. GM has been specifically called out on this.
“Why haven’t we seen the massive inflation that has been forecasted since 2008?”
The printed money was given to the banks who simply invested it right back in Treasury instruments instead of lending it. Nice work if you can get it.
A revolving door....who knew? sarc
GM wasn't part of TARP. It was a separate bailout and had nothing to do with the FED. Again look to congress.
Your statement implies that they were getting paid more on the treasury instruments than the interest they were being charged by the FED. If that were so, you would have expected to see the loans ramp up over time as banks borrowed as much as they possibly could. Instead you don't see that. You see them borrow as much as they need during the crisis and it quickly falls back off within a day or two.
That’s no implication, that’s exactly what I’m saying. “stealth monetization” began in 2008 and is ongoing.
Why did the banks pay off the loans as fast as they could? Some of them didn’t keep them for more than a couple of days.
Ah I see, Argument By Repeated Assertion?
Fight fire with fire.
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