"Any government that can disburse $2 trillion secretly..."

Discussion in 'Economics' started by ByLoSellHi, Apr 7, 2009.

  1. “Refusing to disclose to Bloomberg News the identities of (the recipients of - Ed.) $2 trillion in government loans…the Federal Reserve Board is making the same argument it made this year in denying GATA access to the Fed’s records involving the U.S. gold reserve - - that “trade secrets” are exempt from disclosure…any government that can disburse $2 trillion secretly, without any accountability, is not a democratic government. It is government, of, by, and, for the bankers. And maybe now GATA isn’t the only one to think so…” (emphasis added)

    Investor Advantage
    Revisiting the Cartel's 'End Game'.
    by DeepCaster LLC, deepcaster.com | March 6, 2009

    “’My question to you is, will you tell the American people to whom you lent $2.2 trillion of their dollars?’ Sanders asked, referring to the size of the Fed’s balance sheet.

    …the central bank chairman replied, ‘No,’

    Bernanke said the Fed’s lending programs were not gifts or subsidies but rather over-collateralized loans.

    ‘We have never lost a penny doing it,’ he said”

    U.S. Senator Bernie Sanders (I – VT) and Fed Chairman Ben Bernanke
    Reuters, March 3, 2009

    A measure of just how hapless the U.S. Congress is before the Power of the mighty Private for-profit Federal Reserve is reflected in the foregoing exchange between U.S. Senator Bernie Sanders and Fed Chairman Bernanke.

    Bernanke flatly refused to indicate to whom the $2.2 trillion on the Fed’s balance sheet had been loaned to even though American taxpayers’ funds were used to make the loans.

    Indeed, Bernanke’s response is even more galling in light of the fact that Fed Policies are the Primary Cause of the mortgage/housing and related Crises, as we demonstrate below. The private for-profit Fed makes money in direct proportion to the amount they are lending to the American taxpayer at interest. Of course, they lend money that they print for free out of thin air.

    Given the overweening power of the Fed, it behooves the wise investor to try to ascertain The Fed-led Cartel’s* probable ‘End Game’ for managing these ongoing and worsening Crises. This is especially important since The Fed’s power still appears overwhelming when compared with every other power center in the United States, and worldwide, and particularly when compared with the United States Congress.

    After all, when a private for-profit entity such as the Federal Reserve can direct nearly a quarter of a trillion taxpayer dollars in bailout monies to a private insurance company such as AIG, it is pretty clear who holds the power. But to what effect and for how much longer? What is The Fed’s ‘End Game’? How can that Knowledge be used to Investors’ advantage?..

  2. The fed's 'end game'?
    Maybe it's a rubble bubble.