Thread: Fed Defies Transparency Aim in Refusal to Disclose

Fed Defies Transparency Aim in Refusal to Disclose

Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

$700 billion huh, my ass. After looking at Obama's treasury dept. I can promise an explosion of this type of criminal behavior.

I have to agree with that assesment. There is nothing new about the people he is surrounding himself with. Obama looks more like a partner in this take over of the American markets by the plutocracy than an agent of change.

lol they don't want to tell us about who they are loaning 2 trillion of our money that they made out of thin air????

I think that some form of federal reserve is very important, but if our Fed is going to loan out money to anyone and on top of that, not even tell us who it is for, then they are being counterproductive.

At least a fucking gold standard doesn't inflate our money for no good reason.

(I am even fine with inflation as long as it is just to have a slightly low interest rate to get the max amount of econommic growth for everyone, not this)


I just hope that like the other actions of the Us government during the Great Depression and during wars, the emergency strategies will dissolve themselves when the economy gets on a normal footing. But if those strategies actually prevent us from leaving this rescession, then that will (or is) a true problem.

It is the biggest problem this nation faces. The money they are loading onto the backs of the American people is outrageous and immoral. Out right theft of this nations future and is tantamount to treason. Really, they could have just about covered all defaulted mortgages with the amount they have already spent but that is obviously not their goal. They are intent on enslaving the American people through the use of debt and depriving future generations of the ability to determine their own direction.

Inflation is never a good thing and we are on the verge of the most inflationary period in American history. The best advice I can give is to stockpile food for that will be the measure of wealth in the not to distant future. My guess is we still have maybe a year on the low side and 2 years on the high side, but hyper-inflation is coming to a neighborhood near you.

Runaway much less hyperinflation, while highly probable, also guarantees a one term presidency, a loss of congressional seats and a dumping of US securities by foreign holders. It is possible that Obama's team and the idiots running the house and senate understand this. If so, then the cash will be sopped up and the country will deflate. It was 24 years between Rep victories because of the great depression. It took 32 years minus a divided opposition to come back from Carter's runaway inflation. However most Dems have forgotten that Clinton - Perot = Rep victory. Dems will most likely go for the death or near death experience of hyper inflation. I doubt they will survive as a major party but amazingly they survived Carter.

I can not begin to imagine what this country will become after the collapse( deflation ) and subsequent hyper-inflation but more than likely it will be more like a tyrannous third world nation with but 2 classes of people and only enough food for about half the population we have now.

Originally Posted by Nerv14

lol they don't want to tell us about who they are loaning 2 trillion of our money that they made out of thin air????

I think that some form of federal reserve is very important, but if our Fed is going to loan out money to anyone and on top of that, not even tell us who it is for, then they are being counterproductive.

At least a fucking gold standard doesn't inflate our money for no good reason.

(I am even fine with inflation as long as it is just to have a slightly low interest rate to get the max amount of econommic growth for everyone, not this)


I just hope that like the other actions of the Us government during the Great Depression and during wars, the emergency strategies will dissolve themselves when the economy gets on a normal footing. But if those strategies actually prevent us from leaving this rescession, then that will (or is) a true problem.

The Federal Reserve should not exist. It needs to end totally for the evil contraption it is. It dropped the ball less than twenty years after it was created by trading lending securities on credit accounts, betting against the private bankers that the notes would succeed, win, get a large profit at payoff, then do it again on a new loan. Out of control bankers plunged us into the Great Depression, and many of the middle men and semi wealthy jumped to their deaths out of windows.

And that was with a gold standard backed currency. The Glass-Steigal act was created to regulate bankers so they couldn't do that again. Clinton repealed the act in 1999, and the pen that signed it got put on a wealthy banker's trophy wall called the "Wall of Me". Google it. Since we were a fiat based currency with no gold backing, it took only half the time to re-crash the market doing the same damn thing.

Here is what happens when unscrupulous men control our currency and not the Congress elect as it started out as and was intended to stay that way.

All those sub-prime loans that had investor bets from large companies and small companies alike, lost the money when the ARM loans inflated as designed and the people couldn't pay the new amount. From 2 year to 7 year plans. You see, a lot, and I mean millions of responsible people who knew their budget well were lied to. They were told they could re-finance the loan before the inflated payment would come due, and refinance it at a much lower interest rate for an increase in overall equity.

This is how this was packaged... I know, they tried to give me one like that, but because it sounded too good to be true, I backed out. Ok...

Say a Home is worth 175K. With a 2 year ARM, the first two years would only be $480 per month. After two years, the payments would jump to $1140 per month. The first two years was focused only on paying the interest, the rest of the time was supposed to be paid to principle. Once the interest was fully paid and the principle was left, then they could refinance the full value of the home at 175K but with only 2 or 3 percent interest instead of 6 or 7 percent, saving 50 to 80 thousand for the life of the new loan and keep the payments low. Usually it was the same interest rate the original ARM was offered as in the promise.

We all know that's fiction now, but to people who had this explained to them by a huge bank with lots of backing, it seemed very plausable. They did this for awhile to people with excellent credit.

Now for the real money to be made. An investor would make a secured bet of $50,000 that the loan would be paid out on the refinance. The bank would pocket the bet, and promise payout if the loan was satisfied at the end of 24 months at an interest rate of 12 whopping percent over the bet, an accumalation of the portion of the interest only profits. It looked like a champ to the investors as much as the people. What these investors weren't told is that five or six separate clients would bet on the same loan, far exceeding the payout's profits. That's why they set it up to fail, the banks couldn't afford to have them refinanced! This was the part people didn't see that often.

Now the Federal Reserve didn't make as much as they wanted, so their banks under different programs spent another two years pitching the exact same loan, but as a means to repair hurt credit for a better refinance. They would get a house they wanted, low payments they could make, and refinance right at the inflation period of not missing a payment. Again, more investors jumped on the bandwagon and made their bets, but this time demanded a better payout since they were taking a bigger risk.

So it ended up where the 2 year ARM loan would mature for inflation, and they would get laughed at when trying to do the re-finance. People with excellent credit got hurt, struggled but barely got the newer hyper inflated payments made. Their credit wasn't so good anymore as they now have late payments, but are able to barely meet the new expenses. Nobody would re-finance them to save their lives because the house value was inflated by the bank in the first place thanks to the lack of policy that was repealed by Bill Clinton, a Democrat.

People who had low incomes were trying to FIX their credit, got denied the re-finance they had been sold as very possible, the security investors started to panic. They lost their security investment as it was only a bet against the credit line on payoff at the time of payment inflation. The banks got to keep the original bet from ALL investors on a single loan. Multiply that by several million and that is a tidy profit. Banks made money in one hand, then cried foul in the other as the now working-poor defaulted left and right. Then the banks through the Federal Reserve turned to Congress and told them the bubble popped, and since millions of people were losing thier homes, if there was no bailout, then martial law would be the only way to put down an uprising of poor people. Congress passed the bailout when 90% of the People said hell no, and turned the Federal Government into stockholders, just like the rest of the company's investors. They got to keep the security money, then make back their initial investment on a bailout and can now only profit off of loans that default but are garunteed a payoff by the Government.

This is one of the many reasons why the Federal Reserve will always resist transparency and need to be stopped. They raped America blind, made the poor look like bad people, turned the middle class into poor wage earners, and upper middle to upper class are now considered the middle class. Soon the Fiat Currency will really pop and devaluate, and there is nothing you nor I can do about it except find the rich bankers behind it and blow them away. It's the only accountability they will ever understand. Their money means nothing to them if they aren't living to horde it, and death scares them like nothing else for that reason alone.

And that is why you didn't see middle men and bank managers jumping out of windows for this market crash. They're making money as always, now even on the loans that default, a system they set up to happen just for that very reason.

Sorry for the book, but that's how they pitched it to those who signed up for them. Devious in all the right ways and the only losers would be the people they conned into signing the papers. The average person knew nothing about the security bets, that was supposed to be outlawed, as the repeal of regulation really didn't make big headlines when it happened.

Progressive Historians: History For Our Future

The link below is an older ARM loan page designed to make the system look good and scam the people into making a loan the security investors would make bets on. Look at the low interest wate to suck in folks, just to be set up for failure.

:: MORTGAGE LOANS TO SAVE YOU MONEY ::

Here is another hook line and sinker pitched in 2003

Afraid of an ARM Loan? Don't Be!

And here is the final half of the lie, published and copywrited as far back as 1998 to present. You see, they been lobbying Clinton and knew they were going to succeed. 1998 to Present... haha. Talk about using one old page to carry the fib to the ultimate end.

Should I refinance my mortgage? ARM coming due, payoff debt, divorce, fix rate

Good people got suckered. People who were trying to improve their credit got suckered even harder and more destructively.

And there are those out there who still blame the people, who were nothing more than victims of one of the biggest pieces of professional rip off con artist scams I've ever seen.

Don't forget "End the Fed" demonstrations Nov. 22! It will be interesting to see if anyone shows up. :dunno:

Thanks Obe, I am glad someone took the time to explain how perverse the plutocracy really are.

Blueneck, I doubt the media will even cover the march. One will probably have to find coverage on an alternate media.

Originally Posted by Blueneck

Don't forget "End the Fed" demonstrations Nov. 22! It will be interesting to see if anyone shows up. :dunno:

In the land of the free, that reminds me, where are they keeping the free speech zone for this demonstration, on Skull Island?