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Meanwhile, investors are fleeing to the safety of these stocks while everything else is collapsing:
Same logic as robbing banks ... I guess.
Gosh Mr. Federales, if I'm here and you're here doesn't that make it our money, and whats wrong with frontrunning our money?
Thank you for considering the concerns expressed in this letter. If you have any questions or are in need of any further information, please contact Norman R. Nelson, Executive Vice President and General Counsel, at (212) 612-9205.
Hey Norman at "The Clearing House"
I still haven't heard back from you since you mailed me that letter last year telling me that I may have won $10 million...
You're absolutely right.It is our money. Yours, mine and everyone else'sin this country. But it is Ben's Fed.Vikram, Ken, Loyd, up front! Mr. AnonymousMonetarist has been kind enoughto bring us some of his investments. Be my guest.Help yourselves. Get a good one.
Rusty, the last I looked, it had 'Federal Reserve Note' printed on it right at the top. IMHO this implies that any money created by the Federal Reserve beleongs to said same entity. Might as well have had FOCS printed on it, 'Federa Organized Crime Syndicate'.
The peoples' money is commerce that can neither be taxed nor confiscated by a government, monarch, dictator, or political/corporate elite.
The people no longer have free commerce because even barter is taxable by the Federal government.
I usually cross out Federal Reserve and write PYRAMID SCHEME in Sharpie on my FRNs. Y'all should join me.
Have the US government issue its own fiat and cut all ties to the Federal Reserve Bank and then watch what happens.
We already had that with Executive Order 11110, see here
and here http://en.wikipedia.org/wiki/Kennedy_assassination_conspiracy_theories#F...
We already had that.
Look at Executive Order 11110:
and here http://en.wikipedia.org/wiki/Kennedy_assassination_conspiracy_theories#F...
Perfectly on target!
It is goods and services exchange that i the determinant of the quality of our lives. Money is just a mutually agreed on medium of exchange across thousands of miles, a variety of subclimates, languages and tribal affiliations (that we call nationalities).
Lots of public stress out there right now. It is a time of change. It will go a lot easier if we can retain confidence in out governmental systems including the relative value of the "Federal Reserve Note" currency.
"In a time of drastic change, it is the learners that inherit the future. The learned usually find themselves equipped to live in a world that no longer exists." (Eric Hoffer)
For starters, we should spend some of the billions we are giving away to send the "would be" financial lights of the future to school where they must demonstrate understanding of real world tensor math with the physicists and engineers.
One of Merton's credits in Wikipedia is "financial engineer"
I have to think his math is a little weak.
I guess no one actually "got" the joke here.
This interchange is a play on the dialogue between Spicoli and Mr. Hand from Fast Times at Ridgemont High.
Who care we know who the banks are. Its no secret.69
All efforts to look inside the Fed are to be commended, but with the robbers running the banks and the regulators, how is justice to be done? Look at how many months the Fed and its hundreds of professionals have had to cook the books and obfuscate the evidence since the lawsuit was filed. Aren't they pros at mark to fantasy? Horse sense tells me that if the courts were serious, they would have impounded the Fed’s books immediately, before there was a chance for the boys at the NYFed to falsify them. In the name of justice, isn’t it too late now? The Fed didn’t reveal the books when it was needed. The fact that it’s being forced to come up with an answer now is just propaganda, IMO. Noboby will believe it. And who’s to say it didn’t have two sets of books in the first place. Or no books. This is a secret organization, with more power than the Federal government. The Fed has never been audited, and under Barack Obama--who has more central bankers in his administration than any other administration in history according to Nathan Martin of Nathan’s Economic Edge--there will be no truth exposed now. The world will never know where these monies went--or where they are now.
Better yet, what's wrong with systemic collapse? If the system is inherently corrupt and doesn't allow for a fair and equitable distribution of wealth, then the system should be allowed to collapse.
The incessant propping of failed companies just drains the country of its resources, impoverishing the people. The Fed propped in the 1930s, dragging the Great Depression out for 10 years. It only had to last 2 years, not 10.
When the Madoff ponzi was discovered nobody thought to just carry on with the scheme - however, when the American ponzi was discovered they just decided to keep it aflowing!
Um. Yes, in fact the SEC allowed Madoff to continue scamming for years.
Treasury Document Called AIG Investment ‘Highly Speculative’ (BLOOMBERG)
The United States is going to pass a health care plan
written by a committee, whose head says he doesn't understand it,
passed by a Congress that hasn't read it but exempts themselves from it,
signed by a president that also hasn't read it and who smokes,
with funding administered by a treasury chief who didn't pay his taxes,
http://www.youtube.com/watch?v=eKVxGlkPRlo (2:20 seconds into this clip)
overseen by a surgeon general who is obese, and
financed by a country that's nearly broke.
What could possibly go wrong?
There’s much more in the article and it’s the kind of social thinking you can’t believe that’s been written down, but here’s a sample from yesterday ‘s WSJ of the writings of Dr. Ezekiel Emanuel, Obama's health-care adviser and brother of Obama’s powerful chief of staff Rahm Emanuel:
“Dr. Emanuel argues that to make such decisions [whose life is worth saving], the focus cannot be only on the worth of the individual. He proposes adding the communitarian perspective to ensure that medical resources will be allocated in a way that keeps society going: ‘Substantively, it suggests services that promote the continuation of the polity—those that ensure healthy future generations, ensure development of practical reasoning skills, and ensure full and active participation by citizens in public deliberations—are to be socially guaranteed as basic. Covering services provided to individuals who are irreversibly prevented from being or becoming participating citizens are not basic, and should not be guaranteed. An obvious example is not guaranteeing health services to patients with dementia.’"
Taken from yesterday’s WSJ article by Betsy McCaughey, "Dr. Ezekiel Emanuel Wants Health-Care Rationing,” the Link includes among other things, Dr. Emanuel’s Reaper Curve:
Hope you don't mind, I reprinted your comment along with this post by ZH on our site, here: http://www.philstockworld.com/2009/08/27/racketeering-101-bailed-out-ban...
(if you'd like it removed, please let me know here or at ilene@philstockworld)
When I find out that John Paulson was buying FNM and FRE common earlier this month... I might just quit trading stocks, or hedging against longs in any way.
How do you know he wasn't closing his short positions which he made billions on before the collapse?
So... do you think anyone in MSM will run with this veiled threat?
Or do you think there will be an active campaign to suppress it?
I cannot imagine this will be a subject for discussion on CNBS.
basically told the Judge to go .... ...self, just like The People have gotten
what is needed id for The People to get a hint on what is going on. if enough of a hint gets to them, they'll finally Open their Eyes and demand to hear it all
The banks seem to be mistaking judges for congresscritters.
Could be a major miscalculation on their part.
I'm missing something here. They say that if we knew the truth, these banks would collapse immediately. And the "market" reaction to them saying outright that many key institutions are, in reality, so frail that they would collapse if light hits them, is for the shares of these pieces of shit to rally MORE??? Yeah....right. This market is entirely bogus. There is not a shred of integrity to the markets. They are pure farce. Some are grateful for this because their portfolios have risen (even though they won't now sell). They should cry instead, because our REAL economy is totally ruined as a result. So long as the markets are controlled by an oligarchical parasitic financial organized crime syndicate, we as a nation are screwed. We are going to zero.
Thank you for considering the concerns expressed in this letter. If you have any questions or are in need of any further information, please contact Norman R. Nelson, Executive Vice President and General Counsel, at (212)
Do you know what a duvet is?
And years ago - I heard this - i'll never forget the first time in winter 2001 - crossing back into Canada - it broke my heart and scared me
Now I'm jaded. But I still love this - awesome!!
I see a fit!
You see, Pinocchio, a lie keeps growing and growing
until it's as plain as the nose on your face.
Who are the jack asses who still work with these banks? I would have pulled my money out long ago, just based on the fact that they are rapacious thieves who routinely plunder their own customers. Add on the fact that are trying to hold the entire United States of America hostage. Fuck, these assholes should all be in jail. What the fuck is the matter with this country?!? I feel like I'm taking crazy pills
and right there is the problem with our health system. Doctors are too freely prescribing crazy pills!! :P
Hey! If I didn't take my crazy pills, I couldn't stay sane!
From a competitive standpoint, where are the good banks cheering on full disclosure? Perhaps there are none? Since they do not want to disclose info that would cause a systemic collapse, let's not disclose it but have our systemic collapse anyway..that will show'em!
If you sit tight and keep your mouth shut, you might have less of a chance to be killed by regulators and fed to the TBTF banks for pennies on the dollar.
They're in the back room being told "..don't ever take sides with anyone against the Family... Ever."
FredoBank of Nevada
lots of wholesome community banks would love your deposit business...imagine what a run on the Clearing House would look like.
I agree, all other things being equal. But I don't think all other things are equal. The purpose of a bank run is to destroy the competition and consolidate wealth. The well-connected banks, such as Bank of NY-Babylon, will survive through their connections no matter how badly (or well) they're run. We've got ample evidence of that right in front of us, in this FOIA request. "Our business will be irreparably harmed if it's revealed we're insolvent. Therefore, you cannot reveal that we're insolvent." Unbelievable. The well-run community bank will be hit by the bank run just as hard as every other bank, but when they turn to the government for assistance, the government will say it just doesn't have the money to help.
It’s hard for me to believe that the American people will sit idly by while the Fed bankers and their enablers in Congress and the Oval Office rob them blind. There comes a point at which Americans fight back; it's in their genes. And history shows they fight with a vengeance. Pent-up backlash is like a pressure cooker; if there's no release valve, it explodes. Americans are nearing that point. This is not Sweden with its population of 9 million, whose central bankers “entered uncharted territory” and just dropped the deposit rate to minus 0.25, i.e., negative interest rates on bank deposits.
Do you think Americans would stand for that? Let Ben, who’s a “close associate” of Sweden’s “vocal advocate” for negative interest rates and a “world-renowned expert on monetary policy theory”—Lars Svensson--give it a try. Then, perhaps he and Lars will become renowned experts in the realilty of political backlash
The United States of America is the Land of the Blind.
What can we do?
Remember the criminals have the greatest military in the world in place among us.
Who is going to prevent this gang of thieves and thungs from doing whatever they want whenever they want?
When the Fed monopolizes the feeding trough we know where the pigs will congregate.
Can we say all the members of the Clearing House Association borrowed emergency fund, and, hence, insolvent?
Why hide if you have nothing to hide?
Insolvent? IMO, the answer is yes.
"The disclosure would not merely "stigmatize [ ]"the institution or make it "look [ ] weak," but goes to its very viability."
If revealing facts about an institution's need for emergency bailout borrowing would call into question said institution's viability, then the viability of said institution is already at least questionable.
What we have here is a viability gap.
Fuck the FED - audit it already. We are not falling for your red herring, strawman disctractions. Let the game of chicken begin - we have nothing to lose as we have lost everything.
Stop raping US taxpayers and disclose what is on your balance sheet. Transparency and honesty prevent runs and rumor mongering.
WE are not fucking idiots - audit the place already - we don't want to hear anymore theoretical bullshit - just do it.
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