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Well the mask is off the corpse and the blush off the rose. Anybody who is now confused as to the nature of the banking system we have is simply in a coma. When Chairman Ben Bernanke of the Federal Reserve Bank was asked last week by one of the senators in the Bear Stearns hearing about the legality of the fed’s actions, the answer was, “Senator, we make loans all the time.”
Opening up the new lending facilities directly to “investment” banks and other institutions and providing hundreds of billions of dollars in new “liquidity” to directly prop up the “commercial” banks drops the facade of having an independent, private bank system. The frontmen are no longer needed. It’s one gigantic National Bank called the Federal Reserve.
Everyone’s now coming straight home to Daddy Fed to get their dole. Daddy Fed then makes an accounting entry and viola! Hundreds of billions in new money — just like that — right out of thin air! No backing, no security, no actual collateral, just thin air and an electronic accounting entry — tap, tap, tap on the magic Federal Reserve Moneymaker keyboard.
So the average Joe should ask themselves, “If they can do it for them, why can’t they just open up a lending window on the Web for me?” Indeed, what’s stopping them? The answer is: “Nothing.”
Bank of America, Wells Fargo, WaMu, Key Bank and the rest are now history. We don’t need them. Once Dell and Google work out the details of a giant server farm, they can open the Fed Online Bank to serve every Social Security account numbers in America. B of A, JP Morgan, Citigroup and the rest might as well close up shop. All they do is offer inefficiency, overhead and extra interest points between us and getting our free money.
The Citizen’s Special Drawing Rights Account should come stocked with at least $1 million with each Social Security number issued for every infant and adult in America. That will pay for food, clothes, cars, the house and college tuition. While they’re at it, why not just issue an ATM card that also contains all medical, tax, wage, biometric and citizenship data. That way everything will be simplified!
Wow, this efficient centralization and nationalization stuff is great! We can stop illegal immigration, set up the one-payer, health-care system and have the DNA data to know who should live and who should die. We’ll never have to worry about anything again! Clinton, Obama and McCain’s dream come true.
Just one catch though: Hyperinflation is right around the corner. The 100-year scam of the Federal Reserve Bank and the federal government is now fully exposed and about to derail in a long, slow train wreck over the next 3-5 years.
FRAN FLEMING
Grand Junction
7 Responses to “Federal Reserve Bank scam is about to be exposed”
Posted April 10th, 2008 at 2:40 pm Login to Send PM Report this comment
I’m confused. This is a Republican administration, the current financial troubles are the result of too much de-regualting and insufficent controls on private banks and financial institutions. How did Clinton and Obama get in the act? I understand why you mention Mc Cain because he doesn’t have a clue about banking and economics. If the Fed is out of control what should have been done? Just let the financial system collapse? Herbert Hoover tried that and it didn’t work out too well. Get rid of the Fed? Go back to a gold standard? Lots of whining and blame but no mention of what should have happened. Criticism is meaningless without mention of alternatives.
Posted April 10th, 2008 at 3:52 pm Login to Send PM Report this comment
So, johnnie, go study up on the 16th Amendment to the Constitution and repost on this subject.
It’s an ignorance thing as previously posted in another thread.
Posted April 10th, 2008 at 4:35 pm Login to Send PM Report this comment
John B.
Your words unfortunately are spoken to “fence posts”, and deaf ones at that. You are attempting to convince people to “think” instead of merely “believe.” To “Reagan Reactionaries” like Johnson et al. that is like asking them to burn water. It will never happen. It might require them to admit that they were and are wrong, thereby depriving them of the rationalizing mantra, that it is always the fault of someone else, never theirs. Facts and their accuracy have no place in their world. If it does not conform to their preconceptions, it is wrong. They are really individuals who, while they may “believe” many things, they have never stopped to consider where those came from, questioned whether their is any truth in them, or even bothered to inquire if the “beliefs” they hold are their own, or merely the beliefs of others which they have accepted.
Posted April 10th, 2008 at 4:48 pm Login to Send PM Report this comment
And enter little bobbie from Delta.
Yes bobbie, I do believe in FACT.
As a matter of course, I do my own research, something so foreign to you that you have no idea what the word actually means.
So, I present the same course of action to you.
Go study up on the 16th Amendment to the Constitution of the United States.
And then you can come back and discuss the issue with knowledge.
Or remain ignorant, your choice.
Posted April 11th, 2008 at 6:50 am Login to Send PM Report this comment
Mr.Johnson’s posts are proof positive that we enjoy freer speech in this country than just about any other place on the globe. Anybody can spout off about anything without any qualifications or need to have actually thought about a subject. Limbaugh, Fox News and all the others make millions of dollars off these poor souls. Someplace it’s written “forgive them father for they know not what———-”. Keep ‘em coming, Willis, they are mostly comical with an underlying overwhelming sadness that somebody could be so bitter, hateful and misinformed. Something must have gone terribly wrong in your life to be so consumed with hate and the need to hide under your rock of anonymity.
Posted April 11th, 2008 at 7:17 am Login to Send PM Report this comment
Oh, now I’m confused…
In post# 1 johnny stated “I’m confused. This is a Republican administration, the current financial troubles are the result of too much de-regualting and insufficent controls on private banks and financial institutions” (misspelling not mine)
Then, in post #2 I suggested that he read up on the subject that is the underlying reason fr nearly all the economic woes of this country.
“So, johnnie, go study up on the 16th Amendment to the Constitution and repost on this subject.”
In Post # 3, bobbie from Delta popped in to tell us he was a deaf fence post.
“Your words unfortunately are spoken to “fence posts”, and deaf ones at that”
So, in post # 4, I invited bobbie to “Go study up on the 16th Amendment to the Constitution of the United States.
And then you can come back and discuss the issue with knowledge.”
In post # 5, little johnnie came back with:
“Anybody can spout off about anything without any qualifications or need to have actually thought about a subject.”
So, the original writer made a few very accurate points, the two detractors attempted to distract everybody by attacking the messengers?
So, here we still are boys.
The point of this thread is, and always has been, about the economic problems of this nation.
It is NOT, as you keep preaching ” BUSHES FAULT”, but rather the Sixteenth Amendment that created the federal reserve system, which I asked both of you nicely to go study and get back to us with your newfound knowledge.
So, now we’re back to the typical loony lefty tactic of name calling and deflection of the issue.
Why is that? And that is a serious question.
Why, if your positions are so great, why not back them up with verifiable facts?
Why the name calling, and bashing instead of normal, honest dialog?
Are you both feeling so super smart that the real world no longer pertains to you?
Or maybe you have been putting too many worms on the hook for too long?
Posted April 11th, 2008 at 8:25 am Login to Send PM Report this comment
John boy’s posts are proof positive that we enjoy freer speech in this country than just about any other place on the globe. Anybody can spout off about anything without any qualifications or need to have actually thought about a subject. Dan Blather, CBS, CNN and all the others make millions of dollars off these poor souls.
John Boy, something must have gone terribly wrong in your life to be so consumed with hate that you constantly knock America.
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