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Forum Post: Secret Fed Loans Helped Banks Net $13B

Posted 3 years ago on Nov. 28, 2011, 6:02 p.m. EST by enough (589)
This content is user submitted and not an official statement

Wall Street banks own the Federal Reserve and this proves it. Bernanke didn't want Main Street America to know about this.

http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

20 Comments

20 Comments


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[-] 2 points by warbstar (210) 3 years ago

The article notes, "....While Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger. ...."

Jamming the cogs of the machine is clearly failing. The 1% is simply pumping up the power of the machine to crush the 99%. The only option left is the destruction of the machine. It is the only way to obtain justice.

[-] 3 points by enough (589) 3 years ago

What else doesn't the Fed want us to know about? It's too scary or scandalous to contemplate. How did we ever get to the point that we allowed a star chamber of bankers to run our country into the ground? The Fed is nothing more than a stealth plutocracy of unelected bankers.

[-] 1 points by warbstar (210) 3 years ago

The legal framework for all of this was authored by the mass-murder's Sen. Hatch of Utah and Sen. Phil Gramm of Texas.

They cannot claim ignorance of the matter. They had complete foresight of how this would turn out. Ironically, the more Sen. Hatch is exposed the more he preaches hate on the Senate floor. Basically, what the government has done is create a legal framework so that capitalism can be used by the 1% as a weapon against the 99%. The final affect is mass starvation, artificial shortages in commodities, artificial shortages in electricity (Enron), and more.

They need to be brought up on charges and prosecuted in a world court of law a mass-murderers. It is the only way we can factually prove they are guilty.

[-] 1 points by TrevorMnemonic (5827) 2 years ago

they better have paid it back.

they put the loan on deposit and let it gain interest at a rate higher than the loan rate which allows them to make free money.

FAT CAT CITY FOR CEO BONUSES

it's time to reform monetary policy and introduce currency into the economy through job creation by building our cities. The current system of debt only benefits the elitist of the 1%

Dennis Kucinich talks about it all here. http://www.youtube.com/watch?v=oUpXDZFtEHw

The GAO audit exposed 16 trillion in bailouts 1 trillion alone going to Bank of America.

[-] 1 points by FrogWithWings (1367) 3 years ago

Bad story, see the real one in the link I provided, none of the 16 Trillion has been repaid and all was loaned at ZERO interest.

http://www.silverbearcafe.com/private/10.11/gaoaudit.html

http://thenewamerican.com/economy/markets-mainmenu-45/9536-big-banks-shift-their-derivatives-exposure-onto-us-taxpayers

This 1.4 Quadrillion fell outside the audit time window, as in done just very recently.

[-] 1 points by TrevorMnemonic (5827) 2 years ago

great post

[-] 1 points by lizloansbest (2) 2 years ago

As per what I have known, the financial aid that FED loans can give is quite a good deal to have. FED only proves that they have the best service to all financial help whether it is urgent or not.

Liz, http://lizloans.com

[-] 1 points by FrogWithWings (1367) 3 years ago

http://www.silverbearcafe.com/private/10.11/gaoaudit.html

Better link and your source is incorrect, they found 16 Trillion between late '07 and early '10.

[-] 1 points by nucleus (3291) 3 years ago

Assume crash positions: put your head between your legs and kiss your ass goodbye.

[-] 1 points by FrogWithWings (1367) 3 years ago

http://thenewamerican.com/economy/markets-mainmenu-45/9536-big-banks-shift-their-derivatives-exposure-onto-us-taxpayers

Note this transaction took place LATER than the window of the audit.... no biggie, what's ONE POINT FOUR QUADRILLION on top of 16 TRILLION?

[-] 1 points by enough (589) 3 years ago

Unbelievable. The Fed is all about the big Wall Street banks. Let's face it, we live in a stealth plutocracy run by second derivative appointed officials who work for the big banks, not us. Main Street Americans are just pain-in-the-ass rabble as far as they are concerned.

[-] 1 points by FrogWithWings (1367) 3 years ago

I think it's safe to escalate the label to a more accurate one of Plutarchy.

[-] 1 points by enough (589) 3 years ago

Agree.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 3 years ago

the total bailout was 7.77 trillion

[-] 2 points by enough (589) 3 years ago

The article says "the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year." Yeah, the Fed really needs to be occupied with real Americans.

[-] 0 points by richardkentgates (3269) from Fort Walton Beach, FL 3 years ago

i like the idea of moving it to a government branch with elected officials.

[-] 2 points by enough (589) 3 years ago

I like Andrew Jackson's idea better. Just abolish the Fed. Even if we elect officials to run the Fed, the big banks will wind up owning them like they own congress and the president.

[-] 0 points by richardkentgates (3269) from Fort Walton Beach, FL 3 years ago

well contemplate for a second what i suggested and the reality of removing money from politics.

[-] 1 points by enough (589) 3 years ago

Removing money from politics is the holy grail.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 3 years ago

if everyone sticks to this i'm sure we will realize that reality. unless more war is used as a distraction.

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