What Quantitative Easing Really Means = Bank Bailouts

What Quantitative Easing Really Means = Bank Bailouts

Kona Tea Party, 4.15.2009

Did you really think that the Federal Reserve’s magic printing presses were actually going to help us, the average American. What follows is an excellent explanation of what QE actually means; more big bank bailouts.  Do you still have a bank account or credit card with one of these sharks?

From Economic Collapse:

The Biggest Bank Robbery In History? More Quantitative Easing = Backdoor Bailouts For The Big Banks Without Having To Go Through Congress

The U.S. Federal Reserve is getting ready to conduct another gigantic bailout of the big banks, but this time virtually nobody in the mainstream media will use the term “bailout” and the American people are going to get a lot less upset about it. You see, one lesson that was learned during the last round of bank bailouts was that the American people really, really do not like it when the U.S. Congress votes to give money to the big banks. So this time, the financial “powers that be” have figured out a way around that. Instead of going through the massive headache of dealing with the U.S. Congress, the Federal Reserve is simply going to print money and give it directly to the banks. To be more precise, the Federal Reserve is going to use a procedure known as “quantitative easing” to print money out of thin air in order to purchase large quantities of “troubled assets” (such as mortgage-backed securities) from the biggest U.S. banks at well above market price. Some are already openly wondering if this next round of quantitative easing is going to be the biggest bank robbery in history. Most Americans won’t understand these “backdoor bailouts” well enough to get upset about them, but that doesn’t mean that they won’t be just as bad (or even worse) than the last round of bailouts. In the end, all of the inflation that this new round of quantitative easing is going to cause is going to be a “hidden tax” on all of us.

These new backdoor bailouts are going to work something like this….

1) The big U.S. banks have massive quantities of junk mortgage-backed securities that are worth little to nothing that they desperately want to get rid of.

2) They convince the Federal Reserve (which the big banks are part-owners of) to buy up these “toxic assets” at way above market price.

3) The Federal Reserve creates massive amounts of money out of thin air to buy up all of these troubled assets. The public is told that all of this “quantitative easing” is necessary to stimulate the U.S. economy.

4) The big banks are re-capitalized and have gotten massive amounts of bad mortgage securities off their hands, the Federal Reserve has found a way to pump hundreds of billions (if not trillions) of dollars into the economy, and most of the American people are none the wiser.

Make sure to go over and read the rest; then tell your family and friends about the latest way the big banks are going to get a hand up/hand out and how we are going to be left with the interest payment reaching $1 Trillion dollars next year.

Available Historical Data Fiscal Year End - in Billions (Source: US Treasury)

What ‘Livable Communities’ Actually Means

What ‘Livable Communities’ Actually Means

(Editor’s Note: I am about to dump a massive amount of info on you folks.  READERS have no idea how fast I am trying to catch up on the Progressive ‘Destruction of America’ over the course of the last 120 years.  I must continue to stress to my readers that we MUST kick the United Nations out of our country as they are the facilitators of the progressives’ agenda.  For one moment, put aside the concepts of the Illuminati, devil worship, the Rothschildes, etc., and look at the facts.  At this moment in time, it does not matter what is driving the progressives to rule the world, all that matters is that they are achieving it with the help of the progressives in Congress and monied interests like George Soros.  Turn the box; look at the situation differently.

Also, I do have a theory about what is stalling Bambi’s agenda; ponder marxist revolutionaries versus global elites…)


A reader sent the following article to me this morning and because of it’s utmost importance to the labyrinth of rabbit holes, I find myself putting down ‘Chronology and Factbook of The United Nations, 1941-1991‘  and ‘Luce and His Empire‘ to bring you the following research about the UN’s plan to create a global socialist state with ‘sustainable communities‘ under the guise of global protection.  I know many of you have heard of the Agenda 21 Plan that came out of the Rio Earth Summit in 1992.  How many of you know that the Secretary General of that summit was Maurice Strong? (More on Maurice Strong later in this post.)

Senator Chris Dodd

Sen. Chris Dodd has only a few more months to shred the Constitution and he is continuing to set up the infrastructure the United Nations needs to collapse American sovereignty.  He has brought the UN’s plan closer to fruition with the Livable Communities bill under the guise of ‘traffic congestion’.  When his term is over, how many want to lay a bet that he permanently resides at his irish island estate on Galway Bay?

(more…)

A Sneak Peek At Chris Dodd’s Financial Reform

A Sneak Peek At Chris Dodd’s Financial Reform

Chris Dodd will be “unveiling” his financial reform bill on Monday.  Financial reform?  What a freakin’ joke.  A sneak peek informs us that The Fed and the pResident are going to control everything…one more step down the garden path folks.  When are enough people going to realize that a private banking cartel that is part of an even larger private banking cartel is running this country and the world?  End the Fed – NOW!

With Financial Reform Bill, a Test for Congress

WASHINGTON — Senate Democrats will press forward this week on legislation to overhaul the nation’s financial system in a critical test of whether Washington can pass reform.

The bill that Christopher J. Dodd, chairman of the Senate Banking Committee, will introduce on Monday appears written with the goal of forging a consensus that can overcome partisan division, with provisions that incorporate ideas from both Democrats and Republicans.

Among the most recent provisions in the bill to emerge, according to people who have been briefed on the draft, is one that would curb Wall Street’s influence over theFederal Reserve Bank of New York. Its president would be appointed by the president of the United States, not by a board that includes representatives of member banks.

Another rule would ban bank officers from sitting on the New York Fed’s board, meaning that Jamie Dimon, chief executive of JPMorgan Chase, would probably have to leave the board.

So who exactly is going to be sitting on the board of the New York Fed? Professors and intellectuals.   Why not?  We have professional politicians writing healthcare, not doctors.

The legislation would create a consumer protection agency within the Federal Reserve to write rules governing mortgages, credit cards and other financial products, said the people, who insisted on anonymity because the details were still in flux.

I feel all warm and fuzzy inside knowing The Fed has my back….and my clothes, and my wages, and my childrens’, childrens’ children’s wages.

In a concession to liberals, states’ attorneys general could sue violators of those rules, and the agency would have enforcement powers over large banks, mortgage originators and servicers, and other large lenders.

But in a nod to Republicans, the bill would allow a council of regulators, led by theTreasury, to overturn proposed consumer rules by a two-thirds vote. And although the consumer protection agency would have a director appointed by the president, it would be housed within the Fed, an anathema for consumer advocates.

The bill would also reshape the regulatory role of the Fed. It would be entrusted for the first time with oversight of all of the largest and most interconnected financial companies, even if they are not banks. And it would continue to oversee the largest bank holding companies, those with $50 billion or more in assets — about 35 companies, includingBank of America, JPMorgan Chase, CitigroupGoldman Sachs and Morgan Stanley.

Go over and read the rest, or wait a few hours; it’ll be here.

Dems’ Response To C-Span Cameras During Healthcare Final Phase (VIDEO)

Big Government has an article today about C-Span sending a letter to congressional leadership asking for cameras to be present during the meeting for the final healthcare bill.  The response from Nancy and Chris, “We don’t know if there is going to be a conference.”

C-SPAN Asks to Televise Health Care Negotiations

Just before New Year’s, C-SPAN Chairman and CEO Brian Lamb sent a letter to Congressional leadership, requesting permission to televise negotiations around the final health care reform legislation. The letter was addressed to Speaker Nancy Pelosi, GOP Leader Rep. John Boehner, Senate Majority Leader Harry Reid and GOP Senate Leader Mitch McConnell.

The letter notes:

Now that the process moves to the critical stage of reconciliation between the Chambers, we respectfully request that you all the public full access, through television, to legislation that will affect the lives of every American.

Of course, just days after receiving the offer from C-SPAN, Democrats resumed private negotiations behind close doors:

Congressional Democrats are embarking on an abbreviated negotiation to save Reid the hassle of overcoming more procedural hurdles, but that means the resulting negotiations will be held behind closed-doors as the various stakeholders push for final changes. Liberal Democrats in the House have taken exception with the revised process, but most aides argue a drawn-out conference negotiation would give Senate Republicans too many opportunities to derail the process.

Remember all that talk from Barry on the campaign trail about healthcare and about C-Span cameras in the room when healthcare was going to be debated?

When the lies become so incredibly blatant, just remember illegal alien amnesty, the 2010 US Census, and the dems ranks growing enough to re-elect all of these traitors.

Hit the link for the actual letter.

It’s All About The Jobs

Remember the $787 Billion Porkulus Bill (American Recovery and Reinvestment Act) from a year ago that was supposed to stop the hemorrhaging of jobs in our country through funds being provided for shovel ready projects and tax breaks, (most of which aren’t slated to be spent until the end of this year)?  Naked Emperor News has put together some of the greatest offenders to the Republic, and these are faces that need to be remembered and voted into the ether for their ‘fiscal child abuse‘.

What Is The Fed Up To Now?

We knew that the unemployment rate was higher than 9.5% because, damn, we can actually do real math, have eyes in our heads to see what is happening to our families and neighbors, and have been paying attention to the bank closures and home foreclosures.

The following statements, by the way, are the personal views of Atlanta Fed Chief Dennis Lockhart.  The real question would be, “what outcome is The Fed shooting for with information like this being distributed to the public?”.  We know that if The Fed can shut down all information about where $9 Trillion went, these statements being made by a Fed chief outside of NY is, more than likely, on purpose.

Real US unemployment rate at 16 pct: Fed official

The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.”If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed chief Dennis Lockhart.

He underscored that he was expressing his own views, which did “do not necessarily reflect those of my colleagues on the Federal Open Market Committee,” the policy-setting body of the central bank.

Lockhart pointed out in a speech to a chamber of commerce in Chattanooga, Tennessee that those two categories of people are not taken into account in the Labor Department’s monthly report on the unemployment rate. The official July jobless rate was 9.4 percent.

Lockhart, who heads the Atlanta, Georgia, division of the Fed, is the first central bank official to acknowledge the depth of unemployment amid the worst US recession since the Great Depression.

Lockhart noted that construction and manufacturing had been particularly hard hit in the recession that began in December 2007 and predicted some jobs were gone for good.

Prior to the recession, he said, construction and manufacturing combined accounted for slightly more than 15 percent of employment. But during the recession, their job losses made up more than 40 percent of all US job losses.

“In my view, it is unlikely that we will see a return of jobs lost in certain sectors, such as manufacturing,” he said.

“In a similar vein, the recession has been so deep in construction that a reallocation of workers is likely to happen — even if not permanent.”

Payroll employment has fallen by 6.7 million since the recession began.

Just When You Think It Can’t Get Any Worse, Barack Surprises

Why are we even having a discussion about this?  Why are we paying over $306 Billion a year to service our debt?  Why is The Fed still crashing our economy?

Obama to Nominate Bernanke for Second Term

President Obama plans to nominate Ben S. Bernanke to a second term as chairman of the Federal Reserve, administration officials said Monday night.

The nomination, while expected, comes after Mr. Bernanke has had perhaps the most tumultuous term of any Fed chairman, helping to steer the economy through its greatest downturn since the 1930’s. Mr. Bernanke is a Republican who was appointed by President George W. Bush.

A top White House official said Mr. Obama had decided to keep Mr. Bernanke at the helm of the Fed because he had been bold and brilliant in his attempts to combat the financial crisis and the current deep economic recession.

Everybody read MarketTicker this morning?  Bernanke and his buddies should be in jail; not being allowed to slurp at the trough for some 14 more years.

America Is Running Out Of Rope

Let’s be clear: These banksters have robbed well over $100 billion dollars from taxpayers and citizens via various schemes in the last decade.  These scams have included securitizing loans that they either knew or should have known were laced with fraud, in some cases shorting them while selling them on to other people.  It includes outrageously-complex and intentionally-obfuscated securities “packages” for municipalities which have resulted in huge losses for the town (and huge fees and profits for the bank.)  It has included marketing “auction rate” securities which were claimed to be as liquid and safe as cash, when in fact nothing of the sort was true.  The schemes and scams run the gamut but at their core was the intentional obfuscation of the true nature of the risk embedded in these instruments so that the dupe (that would be you, your town, your state) would wind up losing money all for their benefit: you would enter into a complex swap transaction you didn’t understand, you’d buy a bubble house with an OptionARM after being told you “definitely” could refinance before payments would go up, your kid was sold an expensive educational loan package without being told that it was unable to be discharged in bankruptcy, you were given a credit card with 27 pages of fine print, and buried somewhere in there was vague language letting the company jack your interest rate to anything it wanted – including the 36% it did jack it to – if you missed an electric bill by three days.

Then, when the game of musical chairs ended and all this debt that could not possibly be paid off started to default these very same banksters went to Congress through Paulson and Bernanke, the chiefs of the bankster scam parade, and in my opinion literally committed economic terrorism: hand over $2 trillion dollars hiding all but $700 billion, or we detonate the entirety of the economy and everyone literally starves.

How does this differ from an old-fashioned Al-Quaida terrorist who calls in a nuclear bomb threat?  “Hand over $2 trillion dollars or New York City will be vaporized.”

Hmmmmm… sounds kinda like the same thing to me!

Now let’s juxtapose this with the fact that every Congressperson took an oath to defend The Constitution against all enemies, both foreign and domestic.

So riddle me this my fellow Americans: How is it that Bernanke, Paulson, Geithner, and both Presidents Bush and Obama are still free men instead of being housed at GITMO?  How is it that on that fateful night in September of 2008 when Bernanke and Paulson “briefed” Congress and demanded $700 billion in ransom and a blank check to back-door an unlimited amount in “guarantees” and “pass-throughs” to their banking buddies the Sargeant At Arms was not immediately called to place these goons under arrest pending indictment and prosecution?

Make sure to go over and read the whole article.

Are you coming to Washington DC on 9.12.09 to take back our country?

“Here’s To You Mr. Jefferson”

I am all good with this until Mike Church gets to Reagan; he was as much a part of this problem as the traitors in DC right now.  I am currently trying to ascertain how long it has been since we had a president that wasn’t chosen by power players in the background; Jackson, Lincoln?

The Republicans just voted with the Democrats to pass the Pay for Performance Bill, the next G20 is going to be held in NEW YORK in SEPTEMBER (See Pilgrim Society), and the House is going to pass the “let’s sink the American Economy” $3.8 Trillion Budget, “rock around our descendent’s necks”, tonight.

All of that being said – enjoy!!!

H/T to reader Kathy for the link.

Is Everybody Sick To Death Of Hank Paulson Yet?

Is Everybody Sick To Death Of Hank Paulson Yet?

Treasury Monday night added $6 billion to the $17.4 billion bailout announced Dec. 19, chiefly to help the financial arm of General Motors Corp. Photo: AP

Treasury Monday night added $6 billion to the $17.4 billion bailout announced Dec. 19, chiefly to help the financial arm of General Motors Corp. Photo: AP

If you do not think Hank Paulson is an enemy of the United States after everything he has done in the last six months in regards to the original 3 Page Bailout Proposal, and now our Tax Dollars (Bailout Money) disappearing into the ether, take a gander at this!

Treasury antes up in auto bailout

Stepping into deeper waters to help the auto industry, Treasury Monday night added $6 billion to the $17.4 billion bailout announced Dec. 19, chiefly to help the financial arm of General Motors Corp. (emphasis mine)

Using financial markets rescue funds, Treasury will purchase $5 billion in senior preferred equity from GMAC LLC, and up to $1 billion more will be lent to GM itself so the automaker can participate in a rights offering at GMAC, which has wanted to reorganize itself as a bank holding company. (WTF? Are You Freakin’ Kidding Me?)

GMAC won approval from the Federal Reserve last week to become a bank holding company, but that was contingent on the auto and home loan provider raising at least $30 billion in capital. Treasury’s announcement would appear to move GMAC closer to that goal, and a GM spokeswoman was optimistic Monday night.

From Treasury’s standpoint, the new commitment raises again the pressure on the White House, Congress and the incoming Obama administration to come together on some plan for releasing the second half of the $700 billion financial rescue fund enacted in October. (Paulson wants the rest of the money after the first $350 Billion disappeared and this is just another strong-arm tactic.)

At what point are Americans going to say “ENOUGH IS ENOUGH” and march on D.C. to show our disapproval of ONE MAN having so much power?

Are we going to allow Hank Paulson and Ben Bernanke to destroy our monetary system by throwing good money after bad, AND printing as much money as they need creating super-inflation and a diminishing dollar?

Wake Up America; these guys are not smarter than us unless you count shady, greedy, self-enrichment as intelligent qualities.

Bad Behavior has blocked 2096 access attempts in the last 7 days.

%d bloggers like this: