The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.
We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system -- apart from the matter of AIG’s bailout -- deserves further congressional scrutiny.
The New York Fed is in the hot seat for its decision in November 2008 to buy out, for about $30 billion, insurance contracts AIG sold on toxic debt securities to banks, including Goldman Sachs Group Inc., Merrill Lynch & Co., Societe Generale and Deutsche Bank AG, among others. That decision, critics say, amounted to a back-door bailout for the banks, which received 100 cents on the dollar for contracts that would have been worth far less had AIG been allowed to fail.
That move came a few weeks after the Federal Reserve and Treasury Department propped up AIG in the wake of Lehman Brothers Holdings Inc.’s own mid-September bankruptcy filing.
Do the rich & powerful think things will end well when the poor get PISSED OFF?
ReplyDeleteLOL..........someone is going to get the nuts cut off before all this is over. A guy who has his family living under a bridge with nothing left to be stolen by the bankers is very dangerous and that is times millions.
ReplyDeleteI wish I could band together with brethren that see this tyranny coming and do what our forefathers did when we declared ourselves free and independent. I see tweets. I see comments. Talking isn't doing it. Violence never works until the hour of darkness is at hand......They are spending 700,000 dollars for Andy Griffith "still living in Mayberry" to prostitute his clean loving American image calling health care legislation LAW? Its dark America!!!
ReplyDeleteMy suspicion is that TPTB will plant huge fields of GM corn where the starving will congregate and become so depressed that they stop talking to each other until speechlessness becomes a GM and then The Illuminati dressed in black hoods and capes and strange ape masks attack us in the cornfield with nets and our clothes get torn off.
ReplyDeleteThen I fear they will turn us over to the Banksters who will search us for gold coins....
Doooooooooooooooooomed!
8:24, you gave me the best laugh of the morning.
ReplyDeleteIt's not a cabal, it's a circle jerk of the super rich who will do anything to stay that way.
There's even an AIG Tata in India.
ReplyDeleteI like tata. Two is betta.
ReplyDeleteTom 8:10am: Problem is now, there are too few patriots to matter; the ones I know near me have one foot in the grave and the other on a banana peel (knee replacements, stents, meds, back ailments,obesity, etc) The younger ones live only for self and don't know our history to care about anything that matters. Retirees are too busy playing golf, tennis and traveling. Since the late 50's when my parents were active in the patriot stuff, decades have gone by and things only got worse; never any results in our favor. All work patriots did since, was in vain, esp when all the good jobs left in the last decades. No win wars since Korea, and for what? Prep. family, look out for #1, and hunker down. America is in the sewer sinking lower day by day getting as bad as Europe. A country without borders is no country at all; just a joke.
ReplyDeleteWhen the rioting comes, I would personally like to find an investment banker from one of the bailed out banks and decapitate him in front of his family.
ReplyDeleteThe investment banker elite are all buying ranches and stocking them with food and supplies and manning them for protection when they finally can't hide the bottom line any more and they allow a real crash.
ReplyDeleteWake up! The bankers didn't cause this. This was 100% the fault of our politicians who mandated that Fannie Mae and Freddie Mac make high risk loans. The bankers were not given a choice. The question you need to ask is why were all of these sub-prime loans toxic? Every mortgage with less then 20% down is required to include insurance that pays off the lender in the event of a default. So where is the payment? Everyone of those loans was fully insured. THAT is where the system failed. Not AIG selling so-called toxic assets or big banks bundling loans.
ReplyDeleteAgreed 8:12 our own progressive govt. is at the root of all this downturn. They blame greed for working overtime to get ahead so they increase the tax rate on overtime. They deem corporations bad for turning a profit and tax them higher rates and sick the EPA ,OSHA or a union on them and shake them down some more. Thus driving them overseas or to mexico where they can get away from our genius politicians. Then they stand at the podium and scream capitalism is bad when they are the ones that destroyed it and the free market. I am glad I am young enough and self sufficient enough to witness the change to communism. It's gonna be a hell of a show when all these obama voters see the change that is really in store for them. As for myself I will dig in with family and neighbors and defend the homestead to the last bullet and I have literally thousands.
ReplyDeleteIt is very common to find those who do absolutely nothing in society claiming they have the answer to solving your mental anguish with a pill. Brainwash you into believing that the side effects dont exist and that your getting better…Better at following their belief that they know what your brain needs to stay balanced. Yet what do any of these psychologists know about nutrition? Nothing, for if you lack the right nutrition your body can go into imbalance…Imagine if we let psychologists treat Scurvy. Wow your gums are bleeding? Lets see take this prozac and you will feel better about it I promise!
ReplyDeleteBanking take over as seen in leading to the musical chairs phenom in which the poor get poorer and the Rich get Obscenely Richer...
Reverse Robinhood where the Banks are Stealing on the backs of citizens, the biggest Bank Heist in History.
If you dont agree with the Founders intent, dont try to force your ideas and change on the rest of us, kindly move to a more accomodating country that fits what you want. Freedom is responsibility, we decared Independence, not dependence.
Plus the Bible says "study the ant tHou SLUGGARD" meaning it is ok to store up goods for your Survival!
Hey people....concentrate!
ReplyDeleteFocus on the root cause of the problem.
This article is about the Fed...specifically the most powerful of the 12 regional fed branches... the NY fed.
So WHO "owns" the feb, it's member banks.
Ahhh now there is the mystery.
The organization that controls 'money' in the US (and by extension much of the world) is hidden from view. The 'owners' of the fed don't even have to be Americans.
The 'owners' of the fed could conceivably live a secretive existence in Europe/UK on some incredibly posh estate and be the power brokers behind all western governments.
We just don't know. But on the surface it does appear plausible that the Rothschilds due in fact rule the world.
quote:
"Let me issue and control a nation's money and I care not who writes the laws."
Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.