Zero Hedge: The Fed’s $600 Billion Stealth Bailout of Foreign Banks Continues at the Expense of the Domestic Economy, or Explaining Where All the QE2 Money Went
- Posted on June 12, 2011 at 6:44am by
Scott Baker
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This March 27, 2009 file photo, shows the Federal Reserve Building on Constitution Avenue in Washington. (AP Photo/J. Scott Applewhite, file)
Courtesy of the recently declassified Fed discount window documents, we now know that the biggest beneficiaries of the Fed’s generosity during the peak of the credit crisis were foreign banks, among which Belgium’s Dexia was the most troubled, and thus most lent to, bank. Having been thus exposed, many speculated that going forward the US central bank would primarily focus its “rescue” efforts on US banks, not US-based (or local branches) of foreign (read European) banks: after all that’s what the ECB is for, while the Fed’s role is to stimulate US employment and to keep US inflation modest. And furthermore, should the ECB need to bail out its banks, it could simply do what the Fed does, and monetize debt, thus boosting its assets, while concurrently expanding its excess reserves thus generating fungible capital which would go to European banks. Wrong. Below we present that not only has the Fed’s bailout of foreign banks not terminated with the drop in discount window borrowings or the unwind of the Primary Dealer Credit Facility, but that the only beneficiary of the reserves generated were US-based branches of foreign banks (which in turn turned around and funnelled the cash back to their domestic branches), a shocking finding which explains not only why US banks have been unwilling and, far more importantly, unable to lend out these reserves, but that anyone retaining hopes that with the end of QE2 the reserves that hypothetically had been accumulated at US banks would be flipped to purchase Treasurys, has been dead wrong, therefore making the case for QE3 a done deal. In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!
For those who can’t wait for the punchline, here it is. Below we chart the total cash holdings of Foreign-related banks in the US usingweekly H.8 data.
Read the rest here.
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Comments (260)
spankadonkey
Posted on June 12, 2011 at 9:12amThis appears to be Obummer’s exact strategy – give USA treasure to the poorer parts of the world to make up for our past transgressions of being so very successful. The Fed is following BO’s directive without even questioning the consequences. This is treason, plain and simple.
Report Post »gpk
Posted on June 12, 2011 at 9:11amThis is complete madness. Isn’t it time for a military coup? Odumbo has to go.
Report Post »Texas Grasshopper
Posted on June 12, 2011 at 9:02ambeen tracking this since’ 91 folks, our leaders sold us out years ago, this is at
http://survivalblog.com/
Several readers sent this piece, highlighted at The Drudge Report: China ratings house says US defaulting: report. “In our opinion, the United States has already been defaulting”.
It is beginning, folks: German Rating Agency Feri Downgrades US Government Bonds: AAA to AA!
George C. suggested this commentary from Doug Casey: Our Economic Future: From Best to Worst Case
Sterling and Euro Fall on Economic Concerns – Gold Rises to Record £950.81 British Pounds an Ounce
B.B. sent this: US Is Nearing Even Worse Financial Crisis: Jim Rogers
Some other recent quotes from Jim Rogers: “Bernanke Is A Disaster” Who Will “Bring QE Back”
Home-Price Drop of 25% Wouldn’t Shock Shiller. (Thanks to Steven M. for the link.)
Items from The Economatrix:
Rising Food And Oil Prices Are Biggest Threat To Recovery, Says World Bank
Celente: Gold Standard Won’t Save US Economy
Silver Shield: Don’t Hold Your Breath
Report Post »psst
Posted on June 12, 2011 at 8:55amAs the late George Peppard used to say “ I love it when things goes according to plan”
Report Post »Things are going according to plan for the OWG/NWO.
The now long long long dead planners of this successful movemnt (the Illuminati) are dancing in their graves.It has taken eons, but the fruits of their lions have carried on and their dream/goal of a NWO/OWG IS in sight.
US have long been the fly in their ointment.A famous communist once said” if you control the news organs (now known as the MSM) you can control a country.
Well, this Cabal not only controls the MSM in this country, they are in control of all unions, the most important being the teachers unions. The propagandas/indoctrinations needed to be start at an early age.It was. then unto the universities of higher learning,(?) aka Instute of advanced indoctrinations
Oh, I forgot to remember to mention,this Godless Cabal also now controls the marxist party, aka dem party,Have been for quite some time.
liberalsarealiens
Posted on June 12, 2011 at 8:54amGet rid of theFad reserve NOW. When are we going to say enough is enough? Obama, Soros are comming at us on multible fronts people! Wake the hell up!!!!! WAKE UP!! Everyone should write /call their reps on this subject first thing in the morning!
Report Post »Texas Grasshopper
Posted on June 12, 2011 at 9:08amI dont think wil change anything anymore ….a telepnhone call ? cant hurt I guess ..I’ll still call but really dont think any officials would chang direction because of a phone call …
Report Post »Dale
Posted on June 12, 2011 at 2:42pmTexas;
I have had several conversations with local politicians. I tell them about problems I see, and sometimes offer solutions. I recall one incident where I told him (he didn’t represent my district) my concern and that I had a solution, but no one would ever do it. He whipped his head around when I told him. Here was a simple, workable, but truly unrealistic solution, and he said that perhaps there was a way to do it. I mention this only to show that it may be possible to convince politicians to see alternatives, and to suggest that one single phone call may not help; but a hundred or a thousand calls just may.
Report Post »Inlandmar2
Posted on June 12, 2011 at 8:41amThis is a perfect example of why the Federal Reserve needs to be audited and monitored. There‘s still the question of the 13 trillion dollars that can’t be accounted for. Better yet, get rid of the Federal Reserve.
Report Post »Inlandmar2
Posted on June 12, 2011 at 8:44amSarah Palin’s e-mails and Weiners weiner are just a diversion. The press fiddles while America burns.
Report Post »Founding Dad
Posted on June 12, 2011 at 8:41amFolks, Ron Paul has been correct for years about the so-called Federal Reserve Bank. It’s owned by the United States as much as Federal Express is. Both are privately owned companies taking advantage of the name “federal”, which neither of them are. The great thing for the privately owned Federal Reserve Bank is that they can print and lend money as much as they want without worry, the American taxpayer is on the hook for all the money they are giving to foreign banks. But, since foreign investors own the majority of stock in the Federal Reserve Bank, what would you really expect?? Duh!!! They are using the United States taxpayer as their own personal ATM. Wake up folks, END THE FED!!!!!
Report Post »raspberrytea
Posted on June 12, 2011 at 9:02amI agree w/u Founding Dad! Too bad most
Report Post »people are just voting on emotions, instead of
what and who, could make a real difference for
America.
cous1933
Posted on June 12, 2011 at 9:49pmI’m with you Founding Dad. Anyone that doesn’t support the only candidate who will END THE FED (not to mention the IRS) has no credibility when they complain about it. VOTE FOR RON PAUL or take what you deserve.
Report Post »nomercy63
Posted on June 12, 2011 at 8:37amWe need Criminal Investigations of all the People in Washington top to bottom, Change all the rules back to the Constitution!!!!
Report Post »EqualJustice
Posted on June 12, 2011 at 8:42amProblem with that is they POLICE themselves.. Ragel, Weiner, Holder, Waters… all come to mind and there’s a LONG list.
Report Post »Outlaw_Josey_Wales
Posted on June 12, 2011 at 9:46amThe investigation should start with Ben Bernanke, There is something very wrong with Federal Reserve Chairman Ben Bernanke being a member of the secret society “bilderberg”.
Report Post »Truth Wins Every Time
Posted on June 12, 2011 at 8:35amI took paper and pen in hand………I made what should be a sign to hold in front of congress.
It says……..
Whom among you in congress has the cajones to stop what is being done to the USA ??
Another sign…..Impeach Obama now!!!
What we need is a USA We the People march on congress. Maybe a few million citizens march.
Sitting at our comps on the Blaze will not accomplish anything.
Report Post »I can have my Hoveround in DC pretty damn soon.
Outlaw_Josey_Wales
Posted on June 12, 2011 at 8:47amI’m ready to saddle up my horse and going riding into washington dc.
Report Post »raspberrytea
Posted on June 12, 2011 at 8:50amI agree. we need to go to Washington, and let those
Report Post »idiots know that we have had it!!
It would take alot of people to make them notice.
I just don’t see it happening. Maybe….oh… never mind. :>(
Outlaw_Josey_Wales
Posted on June 12, 2011 at 9:23amThe EPA in washington will notice my methane-belching horse.
Report Post »MercyMe
Posted on June 12, 2011 at 9:57amPrepare to be groped by the TSA on the way to Washington. I’ll rent a car.
Report Post »BehindBlueEyes
Posted on June 12, 2011 at 8:28amCan you say “spread the wealth”?
Report Post »What Obama really meant was spread American taxpayers wealth. Then inflate their money and make us a third world country. Like where his ancestors are from. Then like Obama’s boss says “America will find it’s place in the new world order”.
EqualJustice
Posted on June 12, 2011 at 8:37amSpreading the WEALTH is SO bad now that even when you buy a pair of shoes in CO they use the PROGRESSIVE TAX SYSTEM! If the shoes are say, $30.00 you pay no tax. IF the shoes are $50.00 you pay 4% tax and if the shoes are over $80.00 you pay 8%. NOT good for business OR those who work and want nicer shoes!
Report Post »Alvin691
Posted on June 12, 2011 at 8:23amMr Cain, will you change your position that the Fed audit will not find anything?
Report Post »Texas Grasshopper
Posted on June 12, 2011 at 11:44ambut doesnt everyone love mr. Cain ?
Report Post »Bushie
Posted on June 12, 2011 at 8:14amBO’s plan to bring America to its knees is working.
Report Post »cloudsofwar
Posted on June 12, 2011 at 3:25pmnow lets be fair to BO, he did say he wanted to spread the wealth around. and he is doing such a good job of it. spread the wealth around the whole world. oh no i just realized, he’s got the whole world in his hands. we are sooooooooooo screwed
Report Post »SamIamTwo
Posted on June 12, 2011 at 8:00amYou know libs can’t read let alone understand graphs by time periods. If Bush did it, as they continuously say, then why did they vote for a loser that can’t fix it? LOL
Please don’t trash my yard you paid off anarchist and SS need not come to my house. Just saying.
Report Post »vastrightwinger
Posted on June 12, 2011 at 12:49pmgood point!
Report Post »christos
Posted on June 12, 2011 at 7:59am……Financial engineering,they’d be better off making rhubarb jam,,,,,,
Report Post »raspberrytea
Posted on June 12, 2011 at 7:52amI’m just so sure…….. all the Sunday morning talk shows will be
Report Post »covering this news. (not) Everyone, go back to sleep!!
Bushie
Posted on June 12, 2011 at 8:20amEveryone is to busy reading Palin’s e mail. Stupid obama loving people, don’t you just hate them? I do.
Report Post »ofallon
Posted on June 12, 2011 at 7:48amWould someone please subpoena Mr. Geithner, the Fed and the paper trail? Someone, anyone.
Report Post »cous1933
Posted on June 12, 2011 at 9:50pmRon Paul will. Vote for him and he will end the Fed.
Report Post »Tomfang
Posted on June 12, 2011 at 7:45amFrom 50 billion to almost a trillion in 3 years. We are being sold out big time. By the way, 600 billion equals about $2,000 for every human in the country. 40% don’t pay taxes, so that makes it $3,300 per tax payer. If you are married , the fed just put $6,600 on your credit card and gave it to socialist Europe. If you don’t feel like paying it, the IRS will come and put you in prison.
Report Post »TEA !!
Devil Dog 7175
Posted on June 12, 2011 at 9:47amJust keeping his promise to make us all the same in this big ole world… A third world S**t Hole, Broke and Dependant on them to feed us…What a joke of a government, FROM THE TOP DOWN!!! HOWS THAT HOPE & CHANGE WORKING FOR YOU? Efing stupid Oblo-me supporters…
Report Post »let us prey
Posted on June 12, 2011 at 7:43amIn this circle jerk, who is the pivot man?
Report Post »Outlaw_Josey_Wales
Posted on June 12, 2011 at 8:19amBarny Franks the banking queen.
Report Post »let us prey
Posted on June 12, 2011 at 8:26am@outlaw
Report Post »That twerp would definately be the pivot.
Whirled Peas
Posted on June 12, 2011 at 8:34pmlet us prey
Posted on June 12, 2011 at 7:43am
In this circle jerk, who is the pivot man?
************************
It always has been and always will be the taxpayer!!
Just STFU, drop the drawers, bend over and grab yer ankles!!! Here comes the big THANK YOU!
Report Post »NickDeringer
Posted on June 12, 2011 at 7:24amWhy is the Blaze wasting our time with this story??
Why arene‘t we fucusing on Sarah Palin’s e-mails??
cough…cough…
Report Post »RepubliCorp
Posted on June 12, 2011 at 8:34amThe press is working hard………..to protect the charlatan
Report Post »REETZBEE
Posted on June 12, 2011 at 1:12pmThe bankers are destroying the economy while getting rich and we‘re the one’s holding the bag. We’re such fools to these people.
Report Post »DMSNC
Posted on June 12, 2011 at 7:09amSo the Stimulus was NOT for the US. The Stimulus was so that BO’s buddies could collect the money into Muslim backed banks. How cute!
When will SOMEONE in Congress please stand up? I think we are lost – congress is irrelevant – Czars run everything and we’ve a sockpuppet President. Clearly – they ALL MUST GO in 2012 – how about a complete replacement? That’s my vote!
Report Post »psst
Posted on June 12, 2011 at 9:16amThe rep control House is irrelevant.
Report Post »They won’t even vote NO to raising the debt ceiling.
Our debt can /will never be repaid.
This crapola of them voting to increase it in exchange for cutting /reducing spending w/in 10 yrs is so much crap as many conservatives have said. These cons, Farah being the most vocal ( if not the only one) said todays Congress cannot etch in stone what future Congress may/will do.
Why wait 10 yrs if reducing spending is the goal. May as well start right now.
The Bone-man and republican leaders don’t have the Stones to vote NO to increased spending.
They know the country have been dumbded down to such an extent, the idiots will believe what the marxist party and the MSM (pardon the redundancy) babbles to them.
The marxist success in NY in the last election a few weeks ago , sent shivers down the spine of the so-called republican leadership.Sorry, what was I thinking in insinuating the rep leadership had spines.
The marxist told the geezers they would be eating fido’s food if the republican got elected.Their Socialist Insecurity checks would be cut off, blah-blah-blah.
It’s quite amazing the old fools across the land keeps on believing this crap year after year after year.
Well, the marxist took over the publiK sKrools 50+ yrs ago.
The old fools and young fools can’t realize US will crash (nearly there rat now), they will be lucky to have fido‘s food and the rep pols don’t have the Stones to tell them so.
Keith Stone should talk to
Hiswill
Posted on June 12, 2011 at 9:36amHow is is that all these “wonderful” programs have no trouble finding BIG $$$$$ to start-up and run but the schools and colleges can’t find a dime. All we here about are cuts, cuts and more cuts. Tuition increases are killing Americas chance to remain competitive in the world market. We are selling our soul to China. Can you imagine what 600 BILLION could do to help this country? GOD help America!
Report Post »streetrodder
Posted on June 12, 2011 at 7:09amAnd all these crooks in DC say we need to cut medicare and medicade, WTF. Try dirtyspendingsecrets.com for more good news on our tax money.
Report Post »Brendon Carr
Posted on June 12, 2011 at 9:40amWell, we do need to cut Medicaid and Medicare, together with Social Security and all the other social-spending “entitlements”.
In Fiscal Year 2012, that Social Security/Medicare entitlement spending will be about $2.1 trillion dollars, which is pretty damn close to every penny the Federal government will collect in taxes that year.
All other government functions — Defense, Veterans Affairs, State, EPA, FDA, Education, Energy, Commerce, etc. — are funded with hot checks, as our deficit for 2012 is expected to be $1.6 trillion against total Federal spending of $3.8 trillion (42¢ of every dollar to be spent will be either borrowed, or, more likely, conjured out of thin air — i.e., stolen from you through inflation). In order to balance the budget and save our entitlement programs as they are currently constituted, taxes will nearly need to be doubled. But doubling taxes will collapse the American economy, and that will mean lower tax collections.
I sure am looking forward to 30 million uninsured Americans and illegal aliens getting into our entitlement programs. That’s sure going to save us some money!
Report Post »streetrodder
Posted on June 12, 2011 at 11:48amBrendon Carr. I hate the word entitlement. I paid into this for 50 years. Its my money and i should get it. To many people are getting these bennys that never paid into it, illegals etc.
Report Post »AZfreeman
Posted on June 12, 2011 at 1:02pmWELL SAID BRENDON! Agreed 100%
——————————————–
@ streetrodder
“..I hate the word entitlement. I paid into this for 50 years..” Blah, blah, blah.
When SS and medicare were started, they were Socialist programs from their inception, doomed to failure.
“Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston Churchill
Previous to that Americans were self-sufficient and generously helped each other if they were in need. Just because some commie legislators passed these so called “ENTITLEMENTS” and forced everyone to pay into them does not make them right and certainly does not give you the right to demand a return on the money they stole from you. They stole it and spent it…their politicians – that’s what they do. Liberals screamed that they wanted these ponzi scheme programs and now that they are broke they are screaming that they “paid into it and want what they were promised”….. good grief !! …how stupid are we?!! …rf
“The problem with Socialism is that you eventually run out of other people’s money”. Margaret Thatcher
Report Post »sambachico
Posted on June 12, 2011 at 1:18pmHey Streetrodder, I agree you should get what you put into it. But remember, it’s a ponzi scheme. I‘m in my 30’s and I won’t see a dime of it. It’s theft from me and my family. It’s a bankrupt system. I want out.
Report Post »ConstitunalAmerican
Posted on June 12, 2011 at 4:29pmI agree with you Streetrodder. If you want to cut entitlements lets start with this admin who has been a freeloader and giver at our expense. The user and receiver of entitlements is Obama and those he connects with to destroy this country. Why has no one in Congress, or anyone in a position to know and fully understand the consequences of obama’s actions speaking out about it?
Report Post »kramh
Posted on June 12, 2011 at 7:51pmStreetrodder, you and many others at this site need to look at the supreme court case named Helvring vs. Davis. You and all the rest of us do not have any social security owed. All we did was pay a flat tax that congress can spend as they wish. Most that claim that they paid into a SS fund all their lives have been sold a bill of goods. Since when are most of you still trusting what the pols have promised you. Really just take the few minutes to read the holding (decision) . Look it up,just type in Helvring in google. It is that easy to find out from the horses mouth. (the government) If you do not bother to learn it is your own fault.
Report Post »scjeff
Posted on June 23, 2011 at 11:25amHere is the right thing to do: close all accounts for folks under 50 and write one lump sum check to each person who has paid in. Then replace the system with the way Singapore does it. Workers can set aside a percentage of their money tax free to cover medical expenses and all of the money they keep in the accounts becomes theirs free and clear at 65 to use as they see fit. The result being that the average Singapore citizen has $700K at retirement and during their lifetimes, they have driven the cost of medical care to the lowest in the free world.
Report Post »LadyIzShy
Posted on June 12, 2011 at 7:07amsigh. a big THANK YOU to all those who voted for BHO and his progressive agenda. that anyone but Bush thing is working out REALLY well isnt it. Bush was NOT a great president and did many things I disagre with but IM begging for those days back. Look at our ecconomy people. I dont know about the rest of the country but here in MI its so bad I cant even get a job flipping burgers at the moment. I was TRYING to go to school but its costing me too much with NO garnatee of a job after its all done. I am one of the few lucky peopel who has a house that is paid off so im not underwater however I cant sell and move to a better area because my house is worthless at this point. So THANK YOU to all the unions and progressives that just thought BHO was a saint. I hope its working bettr for you than it is for me
Report Post »Nobamazone
Posted on June 12, 2011 at 8:59amI’m with you lady. I am in Northwest MI and am blessed and thankful to have a decent job (actually great job, not great pay, but great conditions!). I work with the poor and it is TERRIBLE up here, no jobs, or few that pay anything decent, housing down the drain, food and gas prices out of control, thank God we still awesome beaches!
Report Post »Texas Grasshopper
Posted on June 12, 2011 at 9:26amthere are plenty of minumum wage jobs here in texas if you dont mind competeing with Illegal Aliens ….grrrr
Report Post »The_Hut_In_Co
Posted on June 12, 2011 at 11:11amHey Tex,
Report Post »Same here in Colorado! Parts of Denver area look like Nogales mexico. illegals up the whazoo! SFA!
Fight for America
Posted on June 12, 2011 at 6:55amTo all those who voted in Obama and his Chicago cronies and the anarchists waiting to destroy our country –
read this carefully. These people lie to your face while smiling wide and cajoling you into stupidity.
Don’t listen to them anymore.
You should have noticed that Illinois isn’t exactly aflame with political wisdom or integrity. And Illinois is a financial disaster with more plans to keep it that way to support those who think this is somehow working.
Report Post »Moonrunner69
Posted on June 12, 2011 at 8:10amI agree with your comments but would like to add as I sit and think about the state of America that it is working exactly as Obama stated during his campaign. Social redistribution of our success to make amends for all the past wrongs America has commited against the rest of the world. This is the education taught to our young people today. Things look really good on paper but my reality in the college of hard knocks teaches me that all theory does not prove to be true. The world is upside down and only the Creator knows the out come.
Report Post »psst
Posted on June 12, 2011 at 8:33amFight said:”read this carefully. These people lie to your face while smiling wide and cajoling you into stupidity.:
Report Post »—
Um, the marxists are not cajoling ameriKans anymore.ameriKans are running as fast as they can, some are even catching trains,planes, and automobiles towards stupidity.
As Soetoro the marxist Moslem would say:” They (ameriKans)are acting stupidly and I like that, My teacher’s unions, MY marxist profs in the universities and MY MSM have done an excellent job”
Texas Grasshopper
Posted on June 12, 2011 at 9:10amto all the &%$& who voted for Obama ….thanks alot you idiots …you were told what would happen by alot of different sources ..now we are reaping what YOU have sown ..thanks a bunch
Report Post »IndyGuy
Posted on June 12, 2011 at 9:21amFight for America writes:
Report Post »” And Illinois is a financial disaster with more plans to keep it that way to support those who think this is somehow working.”
But it is working for the Marxist MOB from Chicago that has invaded the White House and infected D.C…
Texas Grasshopper
Posted on June 12, 2011 at 2:48pmand why is NASA preparing for Continuity of Goverment ?
http://www.nasa.gov/centers/hq/emergency/personalPreparedness/index.html
Report Post »Dustyluv
Posted on June 12, 2011 at 6:49amThw Marxist strike again. Our economy is toast.
Report Post »RepubliCorp
Posted on June 12, 2011 at 8:31amI would like to make toast of Washington……….nothing but fools, criminals and weiners
Report Post »Every last one of them need the boot
jakartaman
Posted on June 12, 2011 at 9:36amPlease wake me up in November 2012.
Report Post »I along with all my family and rational friends will be voting these commies out of office.
I pray we can last that long but truly believe we will have riots in the streets this time next year.
When the repubs pull the plug on the giveaways the folks (inner city) that use to get these give aways are going to be very unhappy and come to get yours – be prepared America!
kreese
Posted on June 12, 2011 at 9:46amObama is a fool and a Marxist. But you have to be a fool to believe in Marxism, but remember, he was trained well—most of it at our expense.
Report Post »Eliasim
Posted on June 12, 2011 at 1:10pmThe people here are toast also if the people allow it, because it isn’t just the economy. They have to collect all that printed money from your blood, sweat and tears. I know they are not getting squat from me, because I’ll just shutdown.
Report Post »Eliasim
Posted on June 12, 2011 at 1:16pmMoney doesn’t just get valued out of thin air by printing it, and it has to be quantified with something else other than printed numbers, and that is future slavery it is quantified with, and that is the ransom they have put on the heads of Americans. That is why you have a Second Amendment.
Report Post »Eliasim
Posted on June 12, 2011 at 1:52pmBut the good news is that they have printed and lost SO much money, that couldn’t possibly quantify it with any amount of ransom on the heads of Americans. The system world-wide is toast.
Report Post »jhaydeng
Posted on June 12, 2011 at 6:49amSome days you just hope for Haley‘s Comet to whip back around and plant a boot firmly in the world’s hiney! People honestly can’t be bothered researching this stuff, but we all know what dress an actress wore at an awards show!
Report Post »jeffyfreezone
Posted on June 12, 2011 at 8:24amThey are STEALING SO MUCH MONEY from us by devaluing our dollar! We have to elect people who will spend OUR money as they would spend THEIR money! I Want tightwads to be in charge of the purse strings!
Report Post »jedi.kep
Posted on June 12, 2011 at 8:28amWay to go Obozo!
Report Post »Snowleopard {gallery of cat folks}
Posted on June 12, 2011 at 8:54amIndeed they are stealing us blind and most of the nation wanted him in the White House; he is set on the gutting of the economy by any means possible so long as he can support his socialist and the marxist brethren across the seas. This is again nothing more than his views of ‘share the wealth’ and another attempt to punish America for being too prosperous and ingenious in the past to have a life worth living.
Report Post »kentuckypatriot
Posted on June 12, 2011 at 9:15amI only read the headline. If I read further, I would definately have lost my bacon and eggs I just ate.
Report Post »Polwatcher
Posted on June 12, 2011 at 9:29amThey can’t tax us fast enough to steal all they want. How much of that $600 Billion goes in the European aristocrats pockets with bonuses to our politicians and their families..
Report Post »escape_from_socialism
Posted on June 12, 2011 at 9:54amI’m reading right now “No more national debt” by Bill Still. Say short – amazing !!!
Report Post »Please folks, get that book and read it.
FED and private banks are for me alchemists of 21th century.
Alchemists was trying to make gold from something cheaper then gold it self.
Banks are creating money from nothing and landing with interest. This is how you make gold from nothing.
TomFerrari
Posted on June 12, 2011 at 10:06amWould somebody PLEASE explain to me why protectionism, “doesn’t work”???
I understand it allows international companies to thrive. But, as I see it it is the
too-big-to-fail multinationals that are the problem!
LET THEM FAIL !!
BTW: The largest donors to obama included in the top 20,
Goldman Sachs: $994.795.00
JPMorgan Chase: $695132.00
Sidley Austin llp: $588,598.00
UBS ag: $543,219.00
Wilmerhale llp: $542,618.00
Skadden Arps: $530,839.00
Morgan Stanley: $514,881.00
GE: $499,130.00 (ge qualified as a bank to get paid!)
Latham and Watkins: $493,835.00
This is a who’s who of banks and multinational law firms.
So, where’s the surprise?
Just legalized THEFT !
Their ponzi scheme housing bubble burst, so they got their buddies to give em trillions in ‘bailout’,
which they then used to buy ULTRA cheap stock at the bottom, which has mostly recovered. Making them trillions in profit.
Surprise, biggest donors and their buddies get biggest handouts OF YOUR MONEY! = THEFT
It is not “taxation” when they just steal it from us and give it to their friends.
Report Post »How can we even THINK this is taxation? This is just STEALING from the POOR and giving to the RICH!!
joe3
Posted on June 12, 2011 at 10:40amthe FEDs sole job when created in 1913 was to maintain the value of the dollar, the dollar has lost 97% of its value over the last 100 years. END THE FED!!!!!!!!!!!!!! FIRE THE FED! they failed. this bank lends out 50 dollars for every 1 dollar it ownes. this practice of fractional reserve lending is the problem. they print this money from thin air and leverage it out to the public, charging interest. it is a ponzi scheme. the british are coming, the british are the FED, IMF, and World Bank. QE3 is on its way, your pension is next. no one wants to lend us any more money. money represents labor. almost everyone I know worked 60+ hours a week for as long as I have known them, and their savings and investments faded away overnight. where do you think that money (labor) went? It went to the banking elite. so far I have never seen one attempt to put the largest thieves in history behind bars and have all their stolen assets seized. these are gangsters who are killing you me and our children. your red blooded americans, 150 million armed pissed off americans. its time.
Report Post »408 CheyTac
Posted on June 12, 2011 at 10:40amAnd we wonder why the 3 numbers are so secret. Duh.
Report Post »MiketheTrucker
Posted on June 12, 2011 at 10:42amPure and simple, this is THEFT.
When will the rest of America wake up and smell the new world order?
Is this “payback” for all the mortgage derivatives or simply a “transfer” of wealth?
Or, perhaps it’s just a “bailout” for the EU.
Maybe we could get the banks receiving these funds to pay our debt to China.
Report Post »escape_from_socialism
Posted on June 12, 2011 at 11:02amI’m happy more and more people start to get it. Information is POWER.
Report Post »I’m having my 5 year old birthday party today, and nobody (parent of other kids) leaves unless understand fractional landing.
Uncurable wound
Posted on June 12, 2011 at 11:03amWhat do they have to do people,bomb Pearl Harbor?
WAKE UP!!! The ENEMY is among us,and they do have a plan!
DO YOU???
Report Post »mikem1969
Posted on June 12, 2011 at 11:13amonce again the terrorist in chief thief lets the private fed steal our money and give it to other countries. This even further proves that the liberals and progressives want to destroy AMERICA.
Report Post »GOTT-EM-MAUSER
Posted on June 12, 2011 at 11:50amWell this is for all the “BRAINDEAD” folks (the MAJORITY) on this board.
WAKE UP FOLKS!!!! The FEDERAL RESERVE was created strictly BY and FOR the “WORLD MONEY JEWS” to PROFIT FROM. Their plans have worked flawlessly. They are ALL LAUGHING their asses off, as they count their GOLD that you paid for.
Report Post »dave928
Posted on June 12, 2011 at 11:55amIf there ever was an “enemy of the state”, I now firmly believe it’s the Federal Reserve as it stands now. Every one of these jokers needs to be arrested for subversion and the Federal Reserve dissolved.
Report Post »Wdawg
Posted on June 12, 2011 at 12:09pmand nothing can stop them
Report Post »Eliasim
Posted on June 12, 2011 at 1:07pmThey are not stealing money because money is paper, and at some point they have to collect your sweat and tears to make all that printed money valuable. That means they are stealing your life.
Report Post »sambachico
Posted on June 12, 2011 at 1:16pmThe only guy who has been against the fed since the 1970′s is Ron Paul. Ron Paul has been the only one who understands a way to move away from the fed with competing currencies using a basket of commodities to compete. Then we would see what people prefer- junk paper or tangible assets. Bachmann has been a recent adopter of anti-fed policies and has learned much from the Dr. If Ron Paul is so right about so much else, why do so many think his foreign policy views are ridiculous? Either he is a very logical thought out person or he isn’t. He is the only one I can think of in my lifetime who actually cares about making sure we obey the constitution, regardless of what seems right, and that includes foreign aid. Where is it authorized? Bachmann just voted for the renewal of the patriot act, voted for 2008 tarp, and has been voting w/ establishment most of the time. Romney is also not worried about the fed at all. So if you truly want to have something left for our children and grandchildren, Ron Paul is the one who needs to win the Presidency and use the bully pulpit to put this country back on a path to prosperity and peace. I have three children now, and I see a dangerous precedent with us now in Afghanistan, Iraq, Libya, and Nato just bombed yemen. 4 wars? Do you think congress will try to bring the draft back if this stuff continues? I’ll be damned if my kids are ever fighting some globalists war on the middle east. Ron Paul 2012 for peace, prosperity, freed
Report Post »escape_from_socialism
Posted on June 12, 2011 at 1:39pm@sambachico
Report Post »I love Ron Paul. One thing what control value of currency is its quantity. If it’s metal or just paper. Doesn’t matter. The One who control of amount of it control it’s value. I’m sure gold is not the answer. Fractional reserve landing and private banks creating money out of debt is the problem. People will decide what is better when the Gene is out of the bottle.
I’m praying like never before in my life, people will woke up and elect Dr.Paul.
Thevoice
Posted on June 12, 2011 at 2:28pmQuick you can go get a look at the new Wiener photos …From the Congressional Gym..You know the place they spend time playing with themselves instead of actually going to see what the hell is going on in government…and you think you can vote this insanity out of office.
Report Post »Dale
Posted on June 12, 2011 at 2:35pmGOTT-EM-MAUSER;
Are you referring to spooky dude?
Report Post »chazman
Posted on June 12, 2011 at 2:35pmI’m sorry, let me ask this question one more time … uh, why are we paying taxes to criminals?
Should we continue to pay taxes if we know our tax dollars are being stolen?
Just askin’ …
Report Post »Dale
Posted on June 12, 2011 at 2:48pmchazman
Report Post »I’m sorry, let me ask this question one more time … uh, why are we paying taxes to criminals?
Should we continue to pay taxes if we know our tax dollars are being stolen?
—————————-
The answer you don’t want to hear: YES! There is nothing wrong (especially now) with minimizing your tax bite. We are a law abiding country, and until the system breaks down, we must follow the law. There, also, is nothing wrong with working to change the system: get involved in politics (uhg), support candidates who share your views, prepare (as Glenn suggests), and be that person who others can rely on when the time comes.
watchmany2k
Posted on June 12, 2011 at 4:59pmFor those of you just tuning in… the Dollar already IS toilet paper.
QE3 and I bet QE4 will take us into 2012.
All they are doing is postponing the crash.
It will be a worldwide crash.
If I had a 401K or any substancial $ in a bank, I would put it into
10 years of food (aka heratige seed & some canned)
Land remote, wooded, and watered.
Silver, 1 oz bars, Some Gold rounds & bars
Fuel, Wood, oil, propane, diesel
Tools, especially those that wear out IE blades.
Consumables, shoes, boots, clothing & means to repair.
It will crash, and it will decades if it ever comes back to “normal”
I’d also recommend a back door, a haven off shore to wait for the fires to die down.
It’s one thing to have an economic meltdown. Quite another to have society breakdown.
we will have an economic meltdown, and I am sure many cities will be war zones.
If you asked me 10 years ago if I would be typing this I would have thought you crazy.
Report Post »It’s going to take a meltdown for people to finally get it together and go after washington.
until then the bickering and name calling continues…
Enjoy the internet while it is still available, I highly doubt it will survive in it’s present form.
but hey at least we got to see weiners….
CatB
Posted on June 12, 2011 at 5:46pmI really think that this is rising to the standard of TREASON .. … God Save the USA.
TEA!
Report Post »its_time_to_arrest_our_government
Posted on June 12, 2011 at 5:50pmif we dont put this whole batch of losers in dc in jail we are just fools. they have spent us into the ground they are bailing out their friends on our dime. and they expect us to pay for this. im telling you folks they all belong in jail for this.
Report Post »tower7femacamp
Posted on June 12, 2011 at 5:52pmYes it’s true our criminal Federal Reserve Bank works for the Bank of England
Report Post »and the Rothschilds.
tower7femacamp
Posted on June 12, 2011 at 5:59pmMaybe the Blaze is wanting you to look at zerohedge articles.
http://www.zerohedge.com/article/high-level-american-officials-admit-united-states-uses-false-flag-terror-and-warn-future-att
at least I hope so.
Report Post »its_time_to_arrest_our_government
Posted on June 12, 2011 at 6:19pmif your not seeing every reason to put all these democommies in jail i dont know what its going to take to wake america and americans up. we have a bunch of criminals in dc we the people need to demand their arrest. they are robbing us blind and selling us out.
Report Post »silentwatcher
Posted on June 12, 2011 at 6:28pmDo you have any idea what 600 BILLION dollars, split between 50 states, could do for each state (who are each in a bad financial way?) and they gave that away to OTHER COUNTRIES. What a load of b.s. What gov’ts are OUR elected officials working for,,,,it’s not us.
Report Post »70S_KIDS_FIGHTING_SOCIALISM
Posted on June 12, 2011 at 11:20pmHow long until we find out the Soros connection to these banks. The Belgium bank doesn’t make sense when we have been hearing about Greece and other countries. The Chicago way is this money always comes back in favors contributions and getting elected. Having lived in the Suburbs all my life just think of the Politicians as the mob.
Report Post »cemerius
Posted on June 13, 2011 at 8:06ammy BIGGEST question is……WHY IS THE EURO STILL WORTH MORE THAN THE DOLLAR? 500 Biullion dollars “backed” it when it first came about and now we are “propping up” the EURO banks?!?!?! To quote Sarah Palin “WTF”!!!
Report Post »jackrorabbit
Posted on June 13, 2011 at 9:16amMy father made a joke when the “green” comet was seen going away from Earth shortly after the 2008 crash. Saying “there goes our money”. I wish he was alive now to see how right he was.
Report Post »Secret Squirrel
Posted on June 13, 2011 at 7:35pm.
Report Post »Check the list of who is invited to the Bildeberger meeting,
and you’ll see why the money went to billionaires.
Shame on you for not protesting the Fed crooks.