FED GAVE Banks Access to 23.7 TRILLION DOLLARS NOT $700 Billion!

FED GAVE Banks Access to 23.7 TRILLION DOLLARS NOT $700 Billion!

MODS NOTE: There was no copy to found along with the video however I feel his commentary bears repeating. Please move to more appropriate thread if necessary.

(visit the link for the full news article)

In Obama's recent state of the union address he made the galling and false remark about how the TARP bank recipient's have PAID back the funds they borrowed.
The funny money machine is still going at full blast and can only lead to domestic economic chaos in the US.
Dylan Ratigan of MSNBC calls out Obama and the bankers and tells it like it is.


(visit the link for the full news article)

[edit on 3-2-2010 by Asktheanimals]



[mod edit: fixed embed video code]

[edit on 3-2-2010 by 12m8keall2c]

Would LOVE to watch the video, but I have no sound on my computer. Care to give a "Reader's Digest" version of the content? I have surmised that TRILLIONS were being pumped into the system to keep it alive while also enriching a few selct groups of people.

My personal take is that I hope the whole system collapses and we experience a catastrophic economic failure that makes the Great Depression look like a party. I know, I know - I sound terrible in saying that. BUT... every good doctor will tell you that you must suffer for the cure. In order for us to be truly free once again, the current system has to be completely and totally abolished.

Wow, a far-left Obama-supporting news channel saying the same things as Fox.

WE THE PEOPLE WERE UNITED AGAINST these programs, yet taxes to pay for these are being rammed down our throat. Our representatives ignored us and failed to represent us. Congress was easily blackmailed by Paulson (Investment Banker) who said Tanks would be in the streets if the government didn't buy toxic assets off bank ledgers using TARP. Well TARP DIDN'T buy toxic assets, and tanks DIDN'T roll into the streets. The Treasury(Goldman Sachs) now uses TARP as a refillable piggy bank for anything they choose.

$700B refillable Tarp is merely a drop in the bucket, compared to $23.7 TRILLION dollars.

[edit on 3-2-2010 by Dbriefed]

Question?

Why do we care whether it is 700 billion, 32 trillion, 300 quadrillion, 9999 zillion when the Fed, who is owned by the banks to begin with can print money out of thin air? Better yet, they can add a few zero's to that number with only the effort of a keystroke.

Yes the Chinese might be mad but they screwed with our currency to begin with to make trade favor them.

The Fed doesn't just print money out of thin air, that is how you hyper-inflate an economy, Africa is a great example.

The Fed borrows money at an interest rate and pays off the interest as the principal of the debt stacks up.

The Treasury creates bonds, the bonds access a computer, the computer wiretransfers the funds into an account, the account is used up, the used account is the stacked with the rest of the debt.

That is how you get a big national/public debt. The Private sector/foreign investors can set off and create product so it is more useful for the fed.

And China didn't mess with our currency, America did that itself, by exporting jobs left and right. NAFTA is a great example, it fixed some pollution problems, but Americans should start trying to think of ways to create and not pollute.

[edit on 4-2-2010 by Quickfix]

Trillions of taxpayer dollars to fix the mistakes these people made. A generous helping of which was allocated towards bonuses. Talk about corporate welfare to the extreme.

Sadly, the majority of people focus their anger and hatred at Joe Smith down the street that collects 450.00 a month and some food stamps.

Just another example of people focusing their attention, anger and blame on the wrong individuals.

They cry out against wealth redistribution. And yet, the majority of wealth that is redistributed winds up in the hands of corporations.

reply to post by Quickfix


What you are saying only applies when there is an increase in bonds are held by the public. When the public purchases bonds to finance government debt, interest rates go up.

Right now interest rates are not going up which typically means that the Fed is printing money to buy back bonds.

Now if the Fed can print money to repress interest rates, why can't the Fed, and all of its secrecy, print money to prop up banks?

Right now, there is enough dollar demand outside the U.S. to prop up the dollar. If the U.S. were Africa, there would not be such a demand and we would see that hyperinflation you speak of.

And China pegs its currency to the dollar. This is how the Chinese can maintain the trade imbalance and at the same time lure companies over for the cheap wages.

If we print money and China pegs its currency to the dollar, China has NO CHOICE but to create the foreign demand to prop up the dollar value. If China dissociates, we will have massive inflation but at least it won't be as catastrophic as the massive deflation the Chinese might endure. They would literally have to dump their dollar holding into the ocean.



[edit on 4-2-2010 by wutone]