Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

NO JOKE: FOREIGN BANKS TOOK MOST FROM FED; BERNANKE KEPT SECRET

Separate data disclosed in December on temporary emergency- lending programs set up by the Fed also showed big foreign banks as borrowers. Six European banks were among the top 11 companies that sold the most debt overall -- a combined $274.1 billion -- to the Commercial Paper Funding Facility.

(visit the link for the full news article)


Related News Links:
Foreign Banks Tapped Fed's Lifeline Most as Bernanke Kept Borrowers Secret



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The story is the top headline right now on the Drudge Report and links to Bloomberg. This is not an April Fool's joke - well it is a joke on the American people.

The story includes an excerpt from Ron Paul:

“The American people are going to be outraged when they understand what has been going on,” U.S. Representative Ron Paul, a Texas Republican who is chairman of the House subcommittee that oversees the Fed, said in a Bloomberg Television interview.

“What in the world are we doing thinking we can pass out tens of billions of dollars to banks that are overseas?” said Paul, who has advocated abolishing the Fed. “We have problems here at home with people not being able to pay their mortgages, and they’re losing their homes.”

I hope people understand what happened and don't brush it off but I suspect they will. Even as they lose their jobs they won't think to blame the Fed.


(visit the link for the full news article)

A related story is at A Libya Owned Banking Corporation Drew 73 Loans from Fed During Crisis.

This blantant-bullshizzle-beuacratic- blame should be put into the right place here and that is CONGRESS giving even more power to the Federal Reserve at the height of the bail out. Our congress has the power to change this atrocity that we call the Federal Reserve, but they do nothing but give this creature more power. Until our sold out congress gets a spine this government should ALL go home, as the creeps have done nothing but pass legislation that has entombed the american people into poverty, then cry foul

Interesting indeed.

Funny how the same 'political' excuses surface, even in international banking cartel shenanigans....

‘Backward-Looking’

Dexia’s outstanding balance at the Fed has been reduced to zero, Ulrike Pommee, a spokeswoman for the company, said in an e-mail.

“This information is backward-looking,” she said. “We experienced a great deal of tension concerning the liquidity of the dollar at the time of the crisis. The Fed played its role as central banker, providing liquidity to banks that needed it.”

"backward-looking".... oh yes... let's not look at the past....... heaven forbid!

Accountability is for mortals, not elites, eh?

Well lets also put this in perspective. An institution created by the United States Congress forfeiture / buyout at the behest of a private group of individuals loaned out billions to foreign institutions, not just that but during the crisis MOST went overseas. At the same time we have this:

Dimon Says a Hundred Municipalities in U.S. Won’t ‘Make It’ Out of Debt
By Dawn Kopecki – Mar 30, 2011 2:24 PM MT
JPMorgan Chase & Co. (JPM) Chairman and Chief Executive Officer Jamie Dimon said some municipalities will need to renegotiate debt and a hundred may not “make it.”
“I wouldn’t panic about what I’m about to say,” Dimon, 55, said today at a U.S. Chamber of Commerce event in Washington. “You’re going to see some municipalities not make it. I don’t think it’s going to shatter America, I just think it’s a part of the credit cycle.”

He goes on to say that it will be hundreds of municipalities.

I don't understand,
Why?

Are all our government officials crooked?

How can this be?

Originally posted by Stormdancer777
I don't understand,
Why?

Are all our government officials crooked?

How can this be?

I think that 99.99999% of regular people do not run for federal office and they've found that they can select and appoint two people in each federal election to run for office to exclude any challenge by the people.

reply to post by Stormdancer777


Storm its like this. our congress had the power of purse and sword. By Aricle I section 8 only the congress has the right to coin money, regulate the value therof, and of foreign coin, and fix the standard of weights and measures.

BUT, our current-former spineless-shell that we call the congress has chosen to give up all rights-except the right in funding the war machine-Military Industrial Complex. Thus, we have the op's thread filling everyone in on this monster called the Federal Reserve alloting American money to foreign entities. JUST sickening

It is clear that our Federal Reserve bank was distributing discounted rate loans backed by our children's and grandchildren's debt (not to mention our own). And I think this is precisely why they insist on retaining the monetary monopoly. Economic Royalty, Transnational Corporate Super-Citizens, Planetary Economic Overlords, whatever way you slice it, we "little" citizens (the actual producers of wealth,) are reduced to debt serfs.

Our legislative, judicial, and executive branches are in their pocket, or under their thumb..., or both.

There is a good chance that these billions that are being uncovered is just pocket change in the overall scandal. Here is one report that goes up to 12 trillion recently released by the Fed ampedstatus.org...

In just this one peek we got at its operations, we learned that the Fed doled out $12.3 trillion in near-zero interest loans, without Congressional input.

Originally posted by kwakakev
There is a good chance that these billions that are being uncovered is just pocket change in the overall scandal. Here is one report that goes up to 12 trillion recently released by the Fed ampedstatus.org...

I have no doubt. The more and more this information comes out and I learn that even Obama was planning for the war in Libya and the middle-east the moment he entered office (and likely before) I feel that the Roman Empire has been reborn - they army is on the march for the glory of the West and we are all headed for debtor prisons and the arena.

Originally posted by allprowolfy
reply to post by Stormdancer777

 

Storm its like this. our congress had the power of purse and sword. By Aricle I section 8 only the congress has the right to coin money, regulate the value therof, and of foreign coin, and fix the standard of weights and measures.

BUT, our current-former spineless-shell that we call the congress has chosen to give up all rights-except the right in funding the war machine-Military Industrial Complex. Thus, we have the op's thread filling everyone in on this monster called the Federal Reserve alloting American money to foreign entities. JUST sickening

It is sickening, I am depressed.

seems like this pic has a brand new meaning
after reading this.

[atsimg]http://files.abovetopsecret.com/images/member/55c92699fe6a.jpg[/atsimg]

reply to post by ararisq


But surely that is acceptable? Most of the bank bail outs going in europe were caused as a result of the toxic debt of us financial institutions (dodgy mortgages, etc). In a linked global society, what goes around comes around........

Originally posted by ararisq

I hope people understand what happened and don't brush it off but I suspect they will. Even as they lose their jobs they won't think to blame the Fed.

This country has been 'read-only' since the advent of the television. The internet is a more luxurious cell and the smartphone is 'the rapist' for the masses.

The Fed - Lie
Vietnam - Lie
Bush winning - Lie
Global warming scam - Lie
9/11 - Lie
Afghan - Lie
Iraq -Lie
Stock Market Crash(s) - Lie
Mortgage Crisis - Lie
Oil profits - Lie
Oil pill - Lie
Sound weapons - Lie
WiMax - Lie
Corporate taxes - Lie
Monsanto safe - Lie
FDA - Lie
EPA - Lie
Libya - Lie
Iran - Lie

If we have not reacted yet, this won't be the straw that breaks the back...

Originally posted by Stormdancer777
I don't understand,
Why?

Are all our government officials crooked?

How can this be?

Governments crooked? OF COURSE THEY ARE! Your government lies to you and is lying to you right now about Fukishima....We are SO screwed!

Ah, Jamie Dimon....I have a personal anecdote and resulting beef with him...though it probably never made it to his desk, and I was told he "does not accept phone calls."

THAT MAN IS A MONSTER, and his bank is a MONSTROSITY. Just hearing or reading his name makes my blood boil. GgghhhhAAaaaaa!!!!

EDIT TO RANT A LITTLE MORE: It does not surprise me one little bit that he said that. He's not the sort who is content with simply ruining people's lives individually - he'll be rubbing his hands together like Dr Evil while those "municipalities" fail. Every time I'm in Chicago (which is frequently) I glare daggers at his stupid misshapen building....
as much as I love Chicago, its machine - and the corporate demons and crooked politicans that come out of it - sicken me. Literally sicken me.

Originally posted by HUMBLEONE

Originally posted by Stormdancer777
I don't understand,
Why?

Are all our government officials crooked?

How can this be?

Governments crooked? OF COURSE THEY ARE! Your government lies to you and is lying to you right now about Fukishima....We are SO screwed!

It is hard for me to comprehend that not a single one has a conscience, or loyalties?
A selfish and wicked generation.

Originally posted by Stormdancer777


It is hard for me to comprehend that not a single one has a conscience, or loyalties?
A selfish and wicked generation.

They have loyalties, but not to 'people' as 'people.'

They are loyal to the construct of the transnational banking/investment/monetary cartel.

They feel that the woes of people (or nations) are not their problem.... they are "externalities" as MBA's know them. Unrelated to 'good business.'

These are professional middlemen, they divert or steer revenue from entity to entity... conducting themselves as if it were naturally "theirs" in the first place... and technically it is, because they replaced our wealth with their promissory reserve notes representing debt. This is why Americans are not allowed to benefit from a true capitalist economy.

It is also why so many have gone to their ruin fighting the many-tentacled beast... and it's web of influence which extends throughout our governments 'political' culture.