Forum Post: The Federal Reserve IS Wall St
Posted 12 years ago on July 27, 2012, 3:37 p.m. EST by hchc
(3297)
from Tampa, FL
This content is user submitted and not an official statement
Where do you think their QE programs go? Who do you think rigs the interest rates? Its all the same people.
Heres a quick breakdown of why the banks love debt enslavement:
The Fed buys bonds on the open market (not very open though). They dont purchase them straight from the treasury, because that would be too easy. The Fed buys them from Goldman Sachs, who then sells them to the Treasury, at a slightly higher price thant what they paid them for.
Its a perfect scam.
I tried explaining the intricate and involved processes to create electronic credit out of the thin air, and have that be perhaps eventually turned into currency issued by the U.S. Treasury but only for the bills, put that credit into national chartered banks which can borrow from the federal reserve discount window at the ridiculously low or even non-existent federal discount rate usually during financial emergencies, and from each other overnight at the federal funds rates and which hold accounts of all banks and credit unions, the overnight clearing of balances through the federal reserve system, including the effect of the fractional reserve to telescope the credit expansion through the initiation of loans, etc.(and I have not even touched much upon the roles of the U.S. Treasury, the Executive branch, and Congress in this yet) After seeing eyes glazed over, I had the epiphany about the purpose of the whole contraption:
To OBSCURE the processes and make things virtually IMPOSSIBLE to trace or explain to the populace. Why is that?
It is a very OLD trick, also used by virtually all of the private financial evildoers, to hide the deeds from the light of day.
In real capitalism, you or I could make a lower bid than Goldman Sachs for the right to make those premiums, and our government would save money. But, it's the perfect scam.
And very few understand how it works, or that it would be allowed to work as it does.
No one understands. Big Macs that Dance with Stars is more important.
Congress has the ability to stop this....Where are they?
The fed gives them trillions
the trillions sit on deposit, collect interest... FAT CAT CITY
GAO audit exposed 16 trillion in bailouts during the "crisis"
Here comes QE3. And there will be nary a wimper from the two pacifist. money grubbing parties in DC.
Wall St blatantly robbing the people, in broad daylight. And no one cares.