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What's the point of the article?
The US is widely known to support foreign governments as long as this support serves the US best interests.
Better to be a friendly to the US dictature than a democracy standing against the US when divergence of best interests appears.
Nothing new here.
This reminded, why should the provided piece of news be of any interest?
The US supported the Mad Man from the desert Saddam Hussein when it served the US.
Why it should be so surprising to see that the FED was used as a funnel to materialize this help?
The current level of cooperation between the Fed and Treasury has far exceeded what anyone could have imagined.
And of course this all evolved secretly without the knowledge of Congress or the American people. And who knows how much money is sitting in Republican war chests, in offshore banks, money extorted by Congressmen like Duke Cunningham and recycled through Tom Delay, with agents like Jack Abramoff running the operation. That entire process was done through venture capital groups, and internet casinos, and under the cover of black contracts. Bush spent the country into oblivion, so where did the money go? The first thing Obama should have done is fill a boat with US Marines and sail around the Caribbean auditing these banks, and seizing their assets instead of that sissy game they played with Swiss bank accounts, we're coming to get you, yes we are, here I come, better hide that money pretty soon, okay.
Forget Nixon's chickenfeed, and forget that pallet of cash that was thrown out of the back of a pickup truck in Baghdad, get inside the Bush II administration, because this was theft on the grandest of scales. Bush I ran most of the earlier secret operations, including Iran Contra, missiles for hostages, etc. Bush II vetted Bernanke for a week before appointing him, and he made the Fed Chief effectively Under Secretary of Treasury.
Now Bernanke is telling Congress he WON'T PRINT MONEY to pay for deficits. Excuse me, Helicopter Ben WON'T PRINT MONEY FOR A DEMOCRATIC CONGRESS, BUT HE HAD NO PROBLEM SUPPORTING THE ECONOMIC POLICIES OF BUSH, WHO APPOINTED HIM. Bernanke is not a political hack, he just got sucked up into the vortex, when someone offers him IMMUNITY FROM PROSECUTION, then you know we are moving in the right direction.
Meanwhile, the USA Patriot act was - oddly very quietly and with little debate - re-authorized by the US House last night with a very lopsided vote of 315-97.
Make of that what you will.
The Christmas underwear and the Austin plane events were clearly planned to ensure re-authorization.
In a most un-patriotic act, it was re-authorized.
Interesting that a CNN poll recently stated that the majority of Americans believe the government is a threat to their rights.
I still say that under the Patriot Act the cops can break into the Fed and abscond with whatever they want. Who needs a Congressional vote for audit just use the Patriot Act to browse around the Fed for awhile. Isn't Constitutional law a marvel?
It is no secret we were actively supporting SH during the 1980s when he was waging war with Iran. Likewise, we supported the Shah of Iran during the 1970s and in both cases probably supplied them with loans/cash. Why is this suddenly a conspiracy?
Because the Fed'd defense against being audited is that they claim to be "independent"--NOT political. Heh, heh. What a crock
If you substitute the FED with any loaning institution, do you not achieve the same conclusion?
Loaning to Saddam Hussein was a political decision, the FED was simply the vector. Does not influence on its independence.
Let's have a look at the organization chart showing the blocks ABOVE the Fed, and see who is calling the shots for Mr. Bernanke.
I hope people don't ignore this article. I don't care how much paint and wallpaper you slap on the walls, if the walls are falling apart, all you're doing is making yourself feel better about the eventual implosion.
This financial crisis, this unprecendented corruption, is the result of decades of theft, manipulation, mortgage and bond fraud and so on. There is no quick fix and those who ignore articles like this because you don't want to believe it's relevant will be the most surprised when the roof comes down on their head.
End the Fed !
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