Post by Fair PlayOn Wed, 26 Sep 2012 14:33:50 -0600, somebody else made that happen
He felt so strongly about the need to unite against Nazi Germany and the
ultra-right forces of fascism that he wrote and recorded a classic
workers’ anthem titled “All You Fascists Bound to Lose.”
As opposed to the current crop of Republican loonies, such as
yourself, who would have sided with Hitler in a heartbeat?
When it comes to state-sponsored fascism, Obama is promising us four
more years of the following kind of crap:
http://politicalvelcraft.org/2012/10/01/these-18-keynesian-banksters-looted-the-u-s-public-treasury/
H/T Travis....click on URL above to see these crooks' pictures.
These 18 Keynesian Banksters Looted The U.S. Public Treasury!
Posted on October 1, 2012 by Volubrjotr
Bernanke Secretly Gives away Sixteen Trillion Dollars
“The first ever GAO (Government Accountability Office) audit of the US
Federal Reserve was recently carried out due to the Ron Paul/Alan
Grayson Amendment to the Dodd-Frank bill passed in 2010. Jim DeMint, a
Republican Senator, and Bernie Sanders, an independent Senator, while
leading the charge for an audit in the Senate, watered down the original
language of house bill (HR1207) so that a complete audit would not be
carried out. Ben Bernanke, Alan Greenspan, and others, opposed the audit.
What the audit revealed was incredible: between December 2007 and June
2010, the Federal Reserve had secretly bailed out many of the world’s
banks, corporations, and governments by giving them
US$16,000,000,000,000.00 – that’s 16 TRILLION dollars.”
It gets worse, much worse, in fact it’s downright incestuous. Let’s do a
follow up and see who, besides foreign banks and corporations from
Scotland to South Korea, received a large chunk of that money.
* Banks like JP Morgan benefited from the foreign bailouts – they are
some of the largest creditors of the bailed out countries. Instead of
having to write off their foreign losses the US Federal Reserve bailouts
enabled them to be paid in full.
The Government Accountability Office (GAO) investigates potential
conflicts of interest. The GAO did investigate the $16 trillion giveaway
and laid out the findings but did not name names. Those names have now
been released – here’s three of the more shocking cases…
“In Dimon’s (JPMorgan Chase CEO Jamie Dimon)case, JPMorgan received some
$391 billion of the $4 trillion in emergency Fed funds at the same time
his bank was used by the Fed as a clearinghouse for emergency lending
programs. In March of 2008, the Fed provided JPMorgan with $29 billion
in financing to acquire Bear Stearns. Dimon also got the Fed to provide
JPMorgan Chase with an 18-month exemption from risk-based leverage and
capital requirements. And he convinced the Fed to take risky
mortgage-related assets off of Bear Stearns balance sheet before JP
Morgan Chase acquired the troubled investment bank.
Another high-profile conflict involved Stephen Friedman, the former
chairman of the New York Fed‘s board of directors. Late in 2008, the New
York Fed approved an application from Goldman Sachs to become a bank
holding company giving it access to cheap loans from the Federal
Reserve. During that period, Friedman sat on the Goldman Sachs board. He
also owned Goldman stock, something that was prohibited by Federal
Reserve conflict of interest regulations. Although it was not publicly
disclosed at the time, Friedman received a waiver from the Fed’s
conflict of interest rules in late 2008. Unbeknownst to the Fed,
Friedman continued to purchase shares in Goldman from November 2008
through January of 2009, according to the GAO.
In another case, General Electric CEO Jeffrey Immelt was a New York Fed
board member at the same time GE helped create a Commercial Paper
Funding Facility during the financial crisis. The Fed later provided $16
billion in financing to GE under this emergency lending program.” Fed
Board Member Conflicts Detailed by GAO, http://www.sanders.senate.gov/
Below is the full list of 18 Fed board members who gave their own banks
four trillion dollars:
Jamie Dimon, the Chairman and CEO of JP Morgan Chase, has served on
the Board of Directors at the Federal Reserve Bank of New Yorksince
2007. During the financial crisis, the Fed provided JP Morgan Chase with
$391 billion in total financial assistance. JP Morgan Chase was also
used by the Fed as a clearinghouse for the Fed’s emergency lending
programs.In March of 2008, the Fed provided JP Morgan Chase with $29
billion in financing to acquire Bear Stearns. During the financial
crisis, the Fed provided JP Morgan Chase with an 18-month exemption from
risk-based leverage and capital requirements. The Fed also agreed to
take risky mortgage-related assets off of Bear Stearns balance sheet
before JP Morgan Chase acquired this troubled investment bank.
“I just think this constant refrain, ‘bankers, bankers, bankers’ —
it’s just a really unproductive and unfair way of treating people.
People should just stop doing that.”Jamie Dimon
Obama & G.E.’s Immelt also owner of MSM
Jeffrey Immelt, the CEO of General Electric, served on the New York
Fed’s Board of Directors from 2006-2011. General Electric received $16
billion in low-interest financing from the Federal Reserve’s Commercial
Paper Funding Facility during this time period.
Stephen Friedman
Stephen Friedman. In 2008, the New York Fed approved an application
from Goldman Sachs to become a bank holding company giving it access to
cheap Fed loans. During the same period, Friedman, who was chairman of
the New York Fed at the time, sat on the Goldman Sachs board of
directors and owned Goldman stock, something the Fed’s rules prohibited.
He received a waiver in late 2008 that was not made public (the Fed
provided conflict of interest waivers to employees and private
contractors so they could keep investments in the same financial
institutions and corporations that were given emergency loans). After
Friedman received the waiver, he continued to purchase stock in Goldman
from November 2008 through January of 2009 unbeknownst to the Fed,
according to the GAO.During the financial crisis, Goldman Sachs received
$814 billion in total financial assistance from the Fed.
Sanford Weill
Sanford Weill, the former CEO of Citigroup, served on the Fed’s
Board of Directors in New York in 2006. During the financial crisis,
Citigroup received over $2.5 trillion in total financial assistance from
the Fed.
Richard Fuld
Richard Fuld, Jr, the former CEO of Lehman Brothers, served on the
Fed’s Board of Directors in New York from 2006 to 2008. During the
financial crisis, the Fed provided $183 billion in total financial
assistance to Lehman before it collapsed.
James M. Wells
James M. Wells, the Chairman and CEO of SunTrust Banks, has served
on the Board of Directors at the Federal Reserve Bank in Atlanta since
2008. During the financial crisis, SunTrust received $7.5 billion in
total financial assistance from the Fed.
Richard Carrion
Richard Carrion, the head of Popular Inc. in Puerto Rico, has
served on the Board of Directors of the Federal Reserve Bank of New York
since 2008. Popular received $1.2 billion in total financing from the
Fed’s Term Auction Facility during the financial crisis.
James Smith
James Smith, the Chairman and CEO of Webster Bank, served on the
Federal Reserve’s Board of Directors in Boston from 2008-2010. Webster
Bank received $550 million in total financing from the Federal Reserve’s
Term Auction Facility during the financial crisis.
Ted Cecala
Ted Cecala, the former Chairman and CEO of Wilmington Trust, served
on the Fed’s Board of Directors in Philadelphia from 2008-2010.
Wilmington Trust received $3.2 billion in total financial assistance
from the Federal Reserve during the financial crisis.
Robert Jones
Robert Jones, the President and CEO of Old National Bancorp, has
served on the Fed’s Board of Directors in St. Louis since 2008. Old
National Bancorp received a total of $550 million in low-interest loans
from the Federal Reserve’s Term Auction Facility during the financial
crisis.
James Rohr
James Rohr, the Chairman and CEO of PNC Financial Services Group,
served on the Fed’s Board of Directors in Cleveland from 2008-2010. PNC
received $6.5 billion in low-interest loans from the Federal Reserve
during the financial crisis.
George Fisk
George Fisk, the CEO of LegacyTexas Group, was a director at the
Dallas Federal Reserve in 2009. During the financial crisis, his firm
received a $5 million low-interest loan from the Federal Reserve’s Term
Auction Facility.
Dennis Kuester
Dennis Kuester, the former CEO of Marshall & Ilsley, served as a
board director on the Chicago Federal Reserve from 2007-2008. During the
financial crisis, his bank received over $21 billion in low-interest
loans from the Fed.
George Jones
George Jones, Jr., the CEO of Texas Capital Bank, has served as a
board director at the Dallas Federal Reserve since 2009. During the
financial crisis, his bank received $2.3 billion in total financing from
the Fed’s Term Auction Facility.
Douglas Morrison
Douglas Morrison, was the Chief Financial Officer at CitiBank in
Sioux Falls, South Dakota, while he served as a board director at the
Minneapolis Federal Reserve Bank in 2006. During the financial crisis,
CitiBank in Sioux Falls, South Dakota received over $21 billion in total
financing from the Federal Reserve.
L. Phillip Humann
L. Phillip Humann, the former CEO of SunTrust Banks, served on the
Board of Directors at the Federal Reserve Bank in Atlanta from
2006-2008. During the financial crisis, SunTrust received $7.5 billion
in total financial assistance from the Fed.
Henry Meyer III
Henry Meyer, III, the former CEO of KeyCorp, served on the Board of
Directors at the Federal Reserve Bank in Cleveland from 2006-2007.
During the financial crisis, KeyBank(owned by KeyCorp) received over $40
billion in total financing from the Federal Reserve.
Ronald Logue
Ronald Logue, the former CEO of State Street Corporation, served as
a board member of the Boston Federal Reserve Bank from 2006-2007. During
the financial crisis, State Street Corporation received a total of $42
billion in financing from the Federal Reserve.
“The Fed outsourced virtually all of the operations of their emergency
lending programs to private contractors like JP Morgan Chase, Morgan
Stanley, and Wells Fargo.
The same firms also received trillions of dollars in Fed loans at
near-zero interest rates. Altogether some two-thirds of the contracts
that the Fed awarded to manage its emergency lending programs were
no-bid contracts.
Morgan Stanley was given the largest no-bid contract worth $108.4
million to help manage the Fed bailout of AIG.” Mises.ca
“The Banksters are caught in a “Short Position” With Silver in the
$34.00/Ounce Range. As of September 21st, 2012, they sold “derivative
paper” into The COMEX aka; Auction House For Precious Metals to keep
Silver in the $34/ounce range. The derivative paper silver “derived” it
value from un-mined silver still in the ground, which of course is a crime.
This was all done to scare the market place into selling “REAL TANGIBLE
SILVER” so they could buy it from you and I to replace their previous
“derivative paper silver” that they sold to the COMEX to drive the price
of silver down from $50 last year etc etc etc etc.
The PUMP/DUMP game works like this:
1) They PUMP the price of silver up by closing mines and/or hoarding
silver until it is in very short supply.
2) Price goes up.
3) For example, when silver hits $50/Ounce, they illegally sell “paper
silver” to The Comex promising to replace the “paper silver” in [lets
say 6 months or when they can drive the price of silver down to
$10/ounce] with the “real marketed silver like silver coins, bars etc”
4) By selling “paper silver” back to The Comex at $50/Ounce the market
starts to see a “surplus” of silver and the price/ounce starts to go
down. This causes doubt in the minds of other investors and they start
to sell their real silver back to The Comex. This begins a snowball
effect and the price begins to fall more and more. When it gets about as
low as they can get it – they start buying silver and replace their
‘paper silver’ with the same amount of ounces they bought at lets say
$10/ounce. So they made $50.00/ounce when they sold to the market place
with ‘fake silver’ and then they replaced the ‘fake paper silver’ with
$10.00/ounce real silver and thus made $40.00/ounce profit. Not too bad
for cronies-eh? You see, WE do not get to deal with a real ‘demand &
supply’ fair market ~ it is THEY who hoard & abscond the Capitalist System.
5) But now people have rally awakened to this scheme and are holding
onto their real silver because there is very little ‘real silver’ above
ground and most silver mine have closed because the cost to bring the
metal into the market place is now ‘cost prohibitive’.
6) The banksters will either have to replace the ‘paper silver’ with
‘real silver’ or buy back the ‘paper derivative silver notes’ with their
own money.
7) The breaking point aka; short price has now been defined as well as
possible at approximately $34/ounce.
8) When industry starts screaming for the ‘real silver’ for their
products etc., the price will sky rocket. Further, real silver is a
powerful hedge against the value of the falling dollar. Dollar continues
to fall but silver will climb.” ~ Volubrjotr
Conclusion
The financial sector parasites, the banksters and their political
puppets, that have historically fed on our society have never been so
brazen. The looting of the public treasury is very much in the open – if
anyone cares to look – and done with impunity.
This is all happening because our elected politicians do not work for
the people, our elected leaders have stuck their snouts deep in the
trough of power and self indulgence, representative democracy has been
co-opted by big-moneyed interests and political parties represent their
establishment not the people’s interests.
“The lending suites that were set up for months and years, beyond the
initial crisis point, were focused on how to keep banks profitable, not
just how to keep them alive. The banks were able to access emergency
lending facilities, or change themselves into bank holding companies
overnight, to borrow at next to nothing, and if they chose, lend back to
the government at a tidy profit. You didn’t have to think at all to make
money. And you didn’t have to worry about that toxic balance sheet,
because the government was going to help you grow your way out of it.
They will also facilitate mergers to help decimate your competition. The
money that the banks borrowed for nothing could have just as easily gone
to underwater homeowners. There’s nothing special about the banks except
that they know the Fed policymakers personally.” David Dayen,
firedoglake.com
Fed loans at near-zero interest rates, incestuous bailouts, secret
waivers, no-bid contracts, and a failed representative democracy should
be on all our radar screens. Are they on yours?
*Post courtesy of Richard (Rick) Mills at Ahead of the Herd, where he
covers the junior resource sector."