Fed made $9 trillion in emergency overnight loans

The bank run was done in Sept 08 as my Kanjorski video proves this is what popped the bubble,the question is who? The whole housing troubles is what caused the bubble and what they chose to bailout but who popped the bubble? Kanjorski states "We dont talk about such things." well why not/ Because if we knew who,we could discern motive.

Another thing of significant important is that these fancy financial instruments as Bush called them would not have been possible without the repeal of the "Glass -Steagall Act" which incidently was repealed in 99 by a total republican vote with a total democratic dissention.

The repeal of the Glass–Steagall Act of 1933 effectively removed the separation that previously existed between Wall Street investment banks and depository banks and has been blamed by some for exacerbating the damage caused by the collapse of the subprime mortgage market that led to the Financial crisis of 2007–2010.[4] The potential to make enormous profits trading mortgage-backed securities with artificially high ratings[5] encouraged banks to take on otherwise intolerable risk in the form of bad loans.

The bill that ultimately repealed the Act was introduced in the Senate by Phil Gramm (Republican of Texas) and in the House of Representatives by Jim Leach (R-Iowa) in 1999. The bills were passed by a Republican majority, basically following party lines by a 54–44 vote in the Senate[12] and by a bi-partisan 343–86 vote in the House of Representatives.[13] After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. The final bill resolving the differences was passed in the Senate 90–8 (one not voting) and in the House: 362–57 (15 not voting). The legislation was signed into law by President Bill Clinton on November 12, 1999.[14]

en.wikipedia.org...

So the bubble was created then popped. Thats where the conspiracy angle comes in imo.

reply to post by nickoli

My point being there can only be one answer or a combination of both. So the government is responsible for oversight of the fed,at the very least they have the power to nullify it. So the bankers and the politicians should be both thrown from our sight all their collective wealth should be siezed and they all should be banishished from public service forever. Thats my take on it anyhow.

Agreed.

But add the federal debt should be nullified since the whole sham was unconstitutional to begin with!

Article 1 - The Legislative Branch
Section 8 - Powers of Congress

To borrow money on the credit of the United States;...

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
www.usconstitution.net...

No where is the right to transfer the " regulation of the Value thereof" to a private concern, without government oversight granted.

Also the right is to coin money NOT print fiat currency!

Legal Dictionary
COIN: A piece of gold, silver or other metal stamped by authority of the government, in order to determine its value, commonly called money. Co. Litt. 207; Rutherf. Inst. 123

reply to post by tothetenthpower


If you use the link... money.cnn.com...
You will notice some strong spelling of the word "bank" on their graph.

"BANC OF AMERICA"

A.

reply to post by spolcyc

We aren't going to be paying for it once it means nothing The dollar is going to completely collapse. The United States will be looked at in the history books much as Rome did. 9 Trillion dollars is a LOT of money. I can't even comprehend such a sum of cash.

I think that translates to $44,000 dollars per American (I am not going to bother to look for the source)

Perhaps THAT is why they want to make all the illegals citizens - MORE debit slaves! And help kill the Underground Economy they help run.

I do not believe the illegal alien problem is not created for a real purpose, cheap labor and more tax revenue to land in the bankers pockets maybe?

reply to post by thewholepicture

I own a small home based business and I am almost tempted to make my clients pay me in gold and silver!

I will second that. It used to be at least quarters and dimes were silver, but they killed that too.

I wonder if this news coming out 2 years after the fact has anything to do with the upcoming wikileaks dump of the banking files?

If you dont want to be embarrassed by Assange and company, why not embarrass yourself first?
That way wikileaks is not 'leaking' anything, they are just regurgitating news.
And if it stops Assange and company from releasing it now, it makes there claims seem like bad faith.

reply to post by dazbog

...The FRB is a festering disgrace ! Led only by our alleged representatives that allow this rape to continue.

Great post. Thanks for the information. I will add it to my patchwork quilt of info about the FED.

I was really T'ed that the Fed threatened the US government over an Audit. That alone should ring Alarm Bells in every citizen's mind.

reply to post by zorgon

Be easier to watch the video I posted It really does a good job explaining money

Not enough CPU so video crashes my computer therefore I removed it. Also I learn through reading not through hearing. Probably why I rather read than watch TV.

Another reason is I can use snip-its to illustrate key points. That is hard to do with a video

However If I can I will try to watch that video on another computer. I have it ear marked as a to do some time soon.

reply to post by crimvelvet


Yes and even more criminal is all the politicians who vote against Ron Pauls audit the fed bill hr 1207. Its our money its based on our labor and we damn well have a right to know where it goes and what it does. This house of cards is collapsing but whats very very important is not allowing these same people to build the new house.

Nows the time for this little gem.

reply to post by nickoli

Thank you,crimvelvet,now were getting somewhere. Its as I suspected,I was just getting very frustrated in trying to follow the money path. Even with all that info its still very obtuse.

This is where the voting people may begin to get a grip on this deal,by voting out those who voted against hr1207. We made a good start last month but we've still got a ways to go. My problem with this scenario is,can we wait till 2012? Personally I dont think so,I think by 2012 it'll be too late and it may be already....

Your welcome.

I generally send people to A Talk by G. Edward Griffin Author of The Creature from Jekyll Island first because it is so much easier to read. A Primer on Money is a good second text, especially for those who want primary sources. Secrets of the Federal Reserve has a lot of the history but is not the easy read that Griffin is.

The solution to the financial problem is found in this reference. It is a MUST READ - Mises on Money
It is pretty long but fairly readable. Mises by himself IS NOT.

The good news is at least a " standard Mises-Rothbard 100% system" was a part of the Freebankers Debate Baxendale Banking Reform Proposal in the UK Parliament.

Originally posted by tothetenthpower


How ludicrous is that?

They lent out 9 Trillion dollars of what I would think is tax payer money, on top of what the government provided them.

AND on top of that some of them didn't even make it.

The corporate take over of America was even worse than I thought.

What are your thoughts ATS?

~Keeper

money.cnn.com
(visit the link for the full news article)

9 Trillion dollars could feed the planet that's my thought.

reply to post by nickoli

Yes and even more criminal is all the politicians who vote against Ron Pauls audit the fed bill hr 1207. Its our money its based on our labor and we damn well have a right to know where it goes and what it does. This house of cards is collapsing but whats very very important is not allowing these same people to build the new house...

They PLANNED the collapse!

In Sept. 14, 1994 David Rockefeller, speaking at the UN Business Council,. "This present window of opportunity, during which a truly peaceful and interdependent world order might be built, will not be open for too long - We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order."

Rockefeller has hosted luncheons at the family's Westchester estate for the world's finance ministers and central bank governors, following the annual Washington meetings of the World Bank and IMF for years. Rockefeller's Chase Bank served as training grounds for three World Bank presidents, John J. McCloy, Eugene Black and George Woods.


The IMF/World Bank has been using Structural Adjustment Policies to set-up economic dictatorships in third world countries for years too. Now they are expanding to include countries like Iceland, Greece, Portugal, Ireland and soon Spain. Of course all the "money" they are "loaning" was robbed from tax payers and ignorant victims of their "loans without consideration" schemes.

www.whirledbank.org...

Structural Adjustment Policies are economic policies which countries must follow in order to qualify for new World Bank and International Monetary Fund (IMF) loans and help them make debt repayments on the older debts owed to commercial banks, governments and the World Bank....

SAPs generally require countries to devalue their currencies against the dollar; lift import and export restrictions; balance their budgets and not overspend; and remove price controls and state subsidies....

By devaluing the currency and simultaneously removing price controls, the immediate effect of a SAP is generally to hike prices up three or four times, increasing poverty to such an extent that riots are a frequent result....

Unfortunately the banker infiltrated Progressives and Marxists, have their ears plugged, their eyes blindfolded and their mouths wide open creating confusion and distraction, as our hit and run Marxist demonstrated. This is exactly what the bankers planned. The last thing they want is an informed and united public screaming for their heads, a la the French Revolution.

I am doing my darndest to spread information to the "left" as well as the "right" I just have to get them to sit still long enough to listen. I raid farmer's Markets, Auctions and Flea Markets to hand out cards with the links I provided in another post. I asked people to inform ten others. It seems to be working.

That's a lot of money maybe they must be financing the alien underground cities or putting some of it in their own pockets I'm very suspicious of the bank's and the weaving in dealing on the Stock Exchange sounds dodgy.

reply to post by nickoli

Another thing of significant important is that these fancy financial instruments as Bush called them would not have been possible without the repeal of the "Glass -Steagall Act"

That was just one of them.

Leveraged buyouts started before that.

Of mergers and acquisitions each costing $1 million or more, there were just 10 in 1970; in 1980, there were 94; in 1986, there were 346. A third of such deals in the 1980's were hostile. The 1980's also saw a wave of giant leveraged buyouts. Mergers, acquisitions and L.B.O.'s, which had accounted for less than 5 percent of the profits of Wall Street brokerage houses in 1978, ballooned into an estimated 50 percent of profits by 1988... THROUGH ALL THIS, THE HISTORIC RELATIONSHIP between product and paper has been turned upside down. Investment bankers no longer think of themselves as working for the corporations with which they do business. These days, corporations seem to exist for the investment bankers.... In fact, investment banks are replacing the publicly held industrial corporations as the largest and most powerful economic institutions in America.... THERE ARE SIGNS THAT A VICIOUS spiral has begun, as each corporate player seeks to improve its standard of living at the expense of another's. Corporate raiders transfer to themselves, and other shareholders, part of the income of employees by forcing the latter to agree to lower wages. January 29, 1989 www.nytimes.com... New York Times

Congress did nothing to stop this destruction of American assets.

Barney Frank (D-Mass) also has his fingerprints all over this mess with the passage of the Community Reinvestment Act which required lenders to make risky loans to low-income minorities to purchase housing.

The final straw was this, the reason we got stuck with the AIG/bank bailout.

MATT TAIBBI: In the Commodity Futures Modernization Act in the year 2000, they specifically exempted credit default swaps from being treated as gaming under any state laws. And they had to do that, because they were afraid that they were going to be regulated by, you know, state gaming agencies.
www.democracynow.org...

This is quite typical. It is always done piecemeal so it is not too obvious except in hindsight and generally not even then.

Originally posted by pirhanna
The banks take our money, to loan it back to us and make us pay them for it.
Capitalism is a sham.

You may want to learn what capitalism is. We haven't had it for a looong time.

Originally posted by pirhanna
The banks take our money, to loan it back to us and make us pay them for it.
Capitalism is a sham.

What you are decribing is central banking, which is just about as far away from Capitalism as you can get.

Why can't you people figure this out....

Capitalism did not destroy the economy, central bankers, and societal engineers did, two things that are diametrically opposite the philosophy of Capitalism.

reply to post by dazbog


The FED does not print money. Treasury prints money, the FED buys this in an open auction format just like you or I could participate in. I am not sure how you are coming about this information.

Originally posted by tothetenthpower
reply to post by Dance4Life

 

Read the source material I gave you.

Tell me why it's untrue.

I provided information, it's now your job to refute it. A pinky swear isn't good enough

.

~Keeper

I shouldn't have to refute it because it is ridiculous. I have an idea, why don't you start a thread on the topic and you and all the other cohorts can go around in a circle chasing your own tails. It is going to end up coming to the conclusion that you are incorrect.

It is not true and there is nothing else to say. Sorry brother. Like I said, did you know in Africa pink elephants can fly up to 10 km in the air? Find something to debunk it. I'll even make up some off the wall webpage that says this then it will be up to you to find an equally moronic webpage that disputes these facts.

Buy silver - crash JP Morgan.

This is an initiative launched by Max Keiser - and one in which everyone can participate, and win.

JP Morgan is one of the flag ships of the banksters - it also has a massive exposure to the silver price, namely a massive short position - which it cannot possibly satisfy. If everyone in the world went and bought one ounce of silver - well that would be impossible, but it would utterly destroy not only JP Morgan, but it would bring the entire fraudulent system to a grinding train wreck style halt.

As more people go out and get some silver - the price goes up - the supply goes down. JP Morgan is exposed to the tune of trillions of dollars - this will bring them into default.

Precious metals are free, un-encumbered pieces of money - it is the archilles heel of the banksters - if you want to find freedom, buy silver - and find ways to trade with it with others for goods and services.

If you want to protect any wealth you may currently hold - silver is unbeatable.

By the way. I have been doing some research on this 9 trillion number.

It is a fabrication made by the media. Very misleading. Here is what they are doing.

These overnight loans ARE THE SAME LOAN rolled over day->day, possibly weeks at a time. It is NOT 9 Trillion equally unique dollars.

It is like saying your 30 year home mortgage @ 200k is a 1.5 Billion dollar loan.

Lets do the math.

9 Trillion is equal to 30 Billion a day for 300+ days. Not possible, even with the biggest cynics out there, it is just dumb.

Again, many people are fooled by the media hype and headline.