fiscal cliff

Hey ….they may have just forgotten about it …so, here is all the information. Now they should be relieved that they’ll be able to avoid raising our taxes and stealing from our future generations: The Federal Reserve is a Private Company owned mostly by foreign interests and has no accountability to the US Congress. However, due to the outrage of the American people due to the published bailouts, Congress was able to perform a very limited audit in 2011 (first time ever) where we learned that the Fed made trillions of dollars in secret bailout loans to the big Wall Street banks during the last financial crisis. They even secretly loaned out hundreds of billions of dollars to foreign banks. According to the results of the limited Fed audit mentioned above, a total of $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. What’s worse is that these loans were at low interest and the banks turned around and used the money to buy more US securities. Effectively, the Fed gave away $16.1 Trillion of U.S. taxpayers $ so that their “Foreign Owners” could loan it back to them at a higher interest rate. The QE Infinity initiative is more of the same. The Fed is printing $40 billion per month and “buying” from banks below mortgage backed securities. What they would like the American people to believe is that the billions are being pumped back into the economy , ie. bolster the stock market, investments for small business, increased consumer credit, etc. In reality, these banks are using the money to buy T-Bills from the Fed. Basically the Fed is using this initiative in the biggest property grab in the history of the world with $ that are worth just the paper on which they are printed.

Here is a link to the list of illegal loans from page 131 of the audit report.

http://www.scribd.com/doc/60553686/GAO-Fed-Investigation#outer_page_144

Citigroup – $2.513 trillion
Morgan Stanley – $2.041 trillion
Merrill Lynch – $1.949 trillion
Bank of America – $1.344 trillion
Barclays PLC – $868 billion
Bear Sterns – $853 billion
Goldman Sachs – $814 billion
Royal Bank of Scotland – $541 billion
JP Morgan Chase – $391 billion
Deutsche Bank – $354 billion
UBS – $287 billion
Credit Suisse – $262 billion
Lehman Brothers – $183 billion
Bank of Scotland – $181 billion
BNP Paribas – $175 billion
Wells Fargo – $159 billion
Dexia – $159 billion
Wachovia – $142 billion
Dresdner Bank – $135 billion
Societe Generale – $124 billion
“All Other Borrowers” – $2.639 trillion

Nice business model if you can get away with it. Of course, you would have been hanged if you tried it before 1913.  The Federal Reserve Bank is the biggest fraud ever perpetrated on Americans. They don’t teach this stuff in college, unless you go to Yale of course where you can take “How to Bankrupt an Economy using your Father’s Wealth 101”

note from blog author (pzykr)– the QE Infinity initiative mentioned above refers to “Quantitative Easing” which is a program under which the federal government buys bonds — sounds reasonable enough, right? but what do they buy them with?  ah! there’s the catch! they just print up new money!! it’s created out of paper, ink, and thin air. the inevitable result is inflation, as the law of supply and demand will not be cheated.  the QE initiative will continue until the unemployment rate drops to 6.5%, they say. or maybe until it takes a wheel-barrow full of $100 bills to buy a loaf of bread…

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