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Occupy Wall Street May Address Looting by Bank of America and Federal Reserve
Many people are furious that the Federal Reserve and Bank of America have initiated a coup to dump billions of dollars of losses on the American people (and see this).
Many are suggesting that the “Occupy” protesters rally to stop this robbery.
One of the top stories currently on Reddit (one of the top social media sites), is:
I understand that the Occupy protesters are, in fact, currently debating making a statement on this theft.
Currently, there are two competing draft statements. This one is from someone very savvy on understanding how the average American thinks:
A portion of the 53 trillion dollars of derivatives (yes that’s with a t, about the size of the entire global economy) transferred to Bank of America’s parent company from Merrill Lynch in 2008 has recently been transferred to Bank of America.
Derivatives contracts in a bank are paid before anyone else gets paid.
Therefore, these derivatives contracts would be paid before depositors receive their money. These people just cut in front of you.
It's very simple, the reason that banks and trading houses were originally separated was to prevent this sort of thing. What’s really going to happen is that the government is going to end up bailing out the FDIC … so this will end up being a government bailout.
You’ll end up getting shafted, either by derivatives holders cutting in front of you or by your having to bail out the FDIC so it can bail out banks depositors. Either way, this is yet another instance of looting by the big banks and big government.
Just say no … don’t let this stand.
And this one is from two people who are experts on the technical issues involved:
We denounce Bank of America’s transfer of high risk derivatives to its federally insured accounts. This is yet another example of systemically dangerous institutions, big banks like BofA and JPM, once again attempting to shift potentially substantial losses onto the backs of hardworking Americans. The fact that the Federal Reserve supports this action demonstrates Ben Bernanke’s complicity and/or gross incompetence in supporting the Wall Street elite at the expense of tax paying citizens.
Updates as they develop …
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In https://sites.google.com/site/the99percentdeclaration/
OWS has suggested grievances. This was in one of GWs stories yesterday. In it there is a part about no campaign donations from unions.
I'm sure OWS doesn't have a grievance about donations from unions, George Soros or any other deep-pocketed like-minded individual.
In Bangkok, some people were stealing sandbags from flood levees to protect their own homes. Smart huh? Let's see how that works.
Anyone who thinks what BAC is doing is ok is stealing a different kind of sandbag.
We are going to need a bigger prison.
Manhattan...
am i the only one confused by what's being alleged here?
"transferred to Bank of America’s parent company from Merrill Lynch in 2008 has recently been transferred to Bank of America."
um...ok. so in 2008, this stuff was transferred to BAC from MER. and now, recently, it has been transferred...to BAC? from BAC?
typo? color me confused. please explain. thanks!!
In 2008 it was transfered to the PARENT company of the BAC. Now it's moved from there (non insured) to BAC (insured - by us).
akiniti: check whether MER or CFC can be sent BK separately from BAC. - Ned {just a guess}
http://www.nypost.com/p/news/local/manhattan/occu_pie_the_kitchen_PIZ7Es...
protesters eating like kings. what ? you have got to be kidding.........
Smith, a 20-year culinary veteran, said he used to oversee banquets that fed more than 1,000 at a luxurious hotel -- until he was laid off last year.
From the article linked it sounds like the food is all donated and the chefs and his helpers are all volunteers. Why would you care what they eat?
It eases my mind that at least the OWS people in New York are off the additive laden diet. I was worried that those out there protesting to better this world, would get sick from eating crappy inexpensive restaurant food all the time that is laden with additives. I was really worried that the bad diet would sap the movement.
It also shows how OWS has much support. They have lawyers to help them if they get arrested. They have gourmet chefs that are helping them eat healthily. Many people have donated money.
MSM trying to discredit the movement anyway they can. Yes I am sure across the country the OWS crowd are eating caviar, champagne and smoked salmon every night. This is just the TPTB trying to discredit the movement.
Firstly protestors do not require to be poor or unemployed or uneducated. They simply need to be Americans of all walks of life, since the crimes of Wall Street and the banksters have been against America.
well is it happening or not? i am not there. i just hear things. they are saying that there are about a thousand people there and most of them are marxist and communist, just like i thought.........i said it when this thing first started and i will say it again. nothing is happening and nothing will happen......
http://www.youtube.com/watch?v=9aHPRNU1eo8
green resistance (gadaffi loyalist) retaking cities and towns in libya. i look at these people , fighting nato as they are and having some success and i look at us and i think, what makes them any better than us? yet there they are.
http://www.youtube.com/watch?v=YJ839edZ1uM
all you have to do is stand up. oh the price will be high, but what is the alternative? you people have to understand what kind of people you are dealing with. they will stop at nothing and this is because we are major problem for the new world order and they intend on bringing us down. so you had better start getting used to doing things similar to what these black libyans and others are doing ..................or else.........believe me when i tell you this....... or perhaps too many of you don't have the stomach for it or are too fat to bust a move. well too bad is all i can say. it is your world and your children will grow up in it. so what world are you making for them, just like the world we made for you, now there is no more time and there is no more excuses........
That stupid war is going to go on and on and evolve in many ways, as they always do. The idea that it will suddenly end in a consolidated "victory" and be "worth it", is laughable and war-criminal-ish.
The British SAS went in an blew-up the 'Rebel's' primary arms dump south of Benghazi. An Australian ABC reporter came right out and said that, a day after it happened (ABC1 Breakfast) then that extremely explosive claim immediately disappeared!
It DISAPPEARED ... and was never mentioned again. That's what we are up against. The sate media are fully complicit in covering up who started it, and how they did it. And the Libyan rebels were far to dumb and desperate to work it out, and the ones that did were killed, either in battle via mistaken airstrike, or shot in transit by snipers. They eliminated the officers that were smart enough to realise what had really gone on, and they favoured the puppet 'politicians' who would say nothing.
So a Brit destroyer was permited to go into Benghazi an pick up the SAS demolition squad.
I watched that live report as it went to air (audio over a phone from a guy who was actually there and saw events unfold, and who was present to observe the SAS being arrested, some of whom were Brit spys which the locals that had arrested them, told the ABC Journo that these same men had been living in the immediate area of the arms dump for over 6 months, prior to the Benghzi 'uprising' occurring). I looked for the footage or audio of that report but all trace has been removed.
Basically, NATO knew the loss of all those arms would cause Gaddafi to attack Benghazi in force, and they also knew the offensive on Benghazi would cause a BBC (etal) MSM clamour, and UN 'response' that was needed to push the Security Council to vote for NATO intervention and escalate the 'war' into a civil brawl with coordinated NATO airsupport and special forces and naval attacks. Ban Ki Moon let them do it, and Russia and China went along with it.
At the same time Obama was in South America saying it was his aim to cause a regime change in Tripoli. Remember that? Than all the rest of the NATO snakes (Heads of Govt) said much the same things, until the Russians finally objected, and they recanted that the attack was about regime change. The French and Dutch were both actually caught with special forces in operations from helicopters, operating deep inside Libya. And the SAS as well of course, and they too were caught on the ground. The US Marines were offshore with LHD and choppers so you can bet they were definitely in there as well.
How much clearer could this be?
This was never about any negotiations for peace and power sharing or transition, this was about inciting and fuelling a civil war, and making sure it actually happened. They could have easily said to the rebels that if you refuse make peace, we will not support you, and thus the moronic hotheads in Benghazi would have ceased to call the shots. That would have prevented almost all of the destruction since.
But that was not what NATO wanted, it is nothing but ANOTHER cowardly attack and war crime, pretending to be something else.
And then there were the assassinations of elements in the Benghazi rebel leadership clique, to make sure the aggressive operations continued to escalate, the way NATO wanted them to, to get rid of the actual Libyan Govtm and install a supplicant puppet regime, that was 100% dependent on NATO support and input.
Here's a video posted the day after that one you provided HPD, with much more 'fighting' ... or should I say, destructive pointless stupidity.
http://www.youtube.com/watch?v=KtbkiiLdGHQ&feature=player_detailpage
The Gulf of Tonkin was a thing of beauty, compared to the transparent sham of what NATO did in Libya, in order to kick all this off, proper, and maintain it's momentum toward the widespread damage and destruction, and impoverishment of a whole country.
So if you are stupid, and gullible, and ill-educated, and willing to go to NATO or any European powers for 'help', have no doubt that NATO will not hesitate to destroy your country and kill your people, in the name of humanitarian relief operations and UN protection and lots of wishy-washy MSM glib political 'sympathy', and 'moral' support.
It will all sound very nice, but you country will be CRUSHED AND DESTROYED. It's not what they say, it's what they do.
LOOK AT LIBYA NOW ... THAT'S WHAT NATO 'PROTECTION' DOES.
That's their primary speciality. Their second great speciality is deception-in-depth to make you think they're on your side and aligned with you, rather than indirectly attacking, and destroying you from within. NATO is not your friend, and not your protector, and the United Nations will happily do backflips to assist NATO to 'protect' you from the 'bad guys'.
I wish it were not so but that's what NATO and the UN really do, and how they manipulate the human rights agenda into warfare.
Uganda..................................................................................................................................................................................................................................................................................
i find it interesting how gaddafi has ammo dumps all over the place. it is almost as if he knew that they would come there to libya one day and stab him in the back just like they did hussein .........and they did............i mean he was a good boy. he did what he was told. he is a free mason. yet, the rothschilds decreed that he was no longer any use to them and so they wanted him out , per their arab spring movement directives ...........but..........it didn't work out...........maybe, it will be the start of something good.
Beautiful summary and I completely agree. Watch Yugoslavia heat up again. There is still too much infrastructure and uncontrollable elements there to move in a start to rebuild.
Systematically destroying Libya and removing as many Libyans as possible is the current objective. The rest will just leave. What is eventully left behind is rubble, dust, land mines, etc. The place is a hazard and there is no infrastructure; that is water supply, sewers, streets, airports, tranportation, etc. The media sees no story here.
What is left behind is the real prize and the reason for all this in the first place. It has been there for millions of years and no matter what happens above ground it will stay there for the taking.
OIL.
Yes, with Greece just south in economic collapse, with kaput Hungry to the north, basket case Romania to the East, and debt choaked Italy to the west that whole area will come unhinged, later this decade. Albania will become Europe's version of Rwanda.
Plus unfortunately, the asshats that have been running the UN have systematically destroyed its cred, role, and authoritah.
the ethnic rivalries in the balkans have always been a tender box. the rothschilds have used this time and time again..........if the people could just see it for what it is and quit dancing to this tune, the same old game plan, played again and again.....i really do not trust ron paul, since he has been in the system for a long time and he is still alive and he is not in prison.........but his ideas on diplomacy are where its at. instead of fighting each other we should sit down and talk it out and then open up trade channels etc..........
HA HA HA
You are a slave to the Rothchilds HPD and you dont even know it.
Of course Libyans are resisting still. They should be because the banking cartel has it's hooks there now.
Be patient here though. I don't think hurrying is good here. The news needs to continue being spread here. The more people who know the truth before it blows up the better.
well the great unknown is just how many cops are against this beast but at this time remain silent for a variety of reasons. the same could be said about the soldiers. just how many are against this beast but at this time remain silent and play along with the game. that is the question. or maybe, just how many sit silent in the government and wait, until the time when they know .......it is time.............who knows........would any help come from the inside? who knows. for success imho, it would have to happen. since they have all the toys and all we have is semi autos....etc..........
gaddafi is in the desert now. he has resorted to the old ways. they are calling him the lion of the desert. he is rallying his people against this invasion. he is using old technology to match new technology. he uses no electronic devices. they simply do not know where he is. at first , he underestimated them. now it appears they underestimated him..may God allow him victory against these thugs. what you see them do to him and his people, they will do, yes , they will do to us, do not for a minute believe otherwise. what you see in libya will be here one day , soon enough.....then we shal see what these amerikans are made of...
Probably common knowledge by now but Gaddafi is dead
I want to know what Obama thinks of all this...why hasn'the spoken uo? He supports OWS but doesn't want to demonize the bankers who work there? Can't have it both ways Mr. Prez...choose sides and stand for something other than campaign dollars for once in your life.
Obama is thinking, "How can I use this?" He's a user. He doesn't give a shit about anyone outside his immediate circle unless it helps him. I don't say that just because he's the bankster's #1 butt boy. Or because he's so transparently phony, and thinks everyone listening to his words is a complete idiot. Nor because he's boring, or because his wife seems like she's an even bigger hater, and a bigger bore. I say that because I see right through him to the tantrum-throwing core, the angry little boy whose momma abandoned him to hop the globe, man hunting. Both of his parents abandoned him, and the globalists saw the perfect tool, an angry but charismatic hater, one who would gladly aid and excuse the literal and figurative rape of productive America at the hands of the cartel and its army of goons and dependents. Obama will watch with a smile as the violence starts.
bingo -----and tu
If a huge number of customers of BofA close their account. That simple act would reduce the amount of a potential public bailout. Correct?
no
If EVERYONE did it that would be much more decisive
The way I read it is that .gov would need to come up with 53T for bac/investors BEFORE depositors would see a penny. Since 53T is more money than actually exists, I believe any chance of getting back deposits is nil.
I'm not sure about that, since as I recall the FDIC system only guarantees individual accounts (up to 150K or something like that), rather than guaranteeing the entirety of each banking establishment.
In a case of a BofA collapse, when everyone is trying to pull their money out of the bank, the owners of the derivatives would have priority over the account holders, which would mean that the 1T in deposits would get sucked up by the derivatives holders (which at 53T amounts to less than 2 cents on the dollar, plus whatever the derivatives might still be worth).
=> once the bank is bankrupt, THEN the FDIC would need to step in and make whole the small account holders (up to that 150K limit)
=> there is no reason to believe that the derivatives holders would once more have the right to take precedence on this money, since it would be a transaction between the FDIC and the individuals, with BofA and its creditors outside of the loop at that point.
In short: this is another very good reason for a bank run on BofA. The fewer accounts there are with that criminal bank, the less the FDIC will need to reimburse once it goes belly up.
From what I've seen in other comments you are correct.
I really doubt the 53T number. Typically, when talking derivatives, there's a lot of netting that reduces exposure dramatically. I remember 60 Minutes getting all hysterical about CDS outstanding notionals, unaware that the net was far lower. Dumb.
Not dumb. The "theoretical" net might be lower, but if all the counterparties are going bankrupt then gross is very relevant. More so than net. I'd definitely not want to be the backstopper for that gross number, i don't care about the net.
Ben is truly a scumbag!!! I have emailed my senators and congressman twice about this. All of you should do the same. Lets stop this shit!!!
Timmeh gave Benny the direct order which came from the top...
Yeah, I've done that. They have their secretary e-mail me back kindly informing me that I am a doofus and should leave the leading of the country to qualified individuals such as themselves. Fuck em. I'm done asking for permission to be free. I am free.
Nice. Is that all that it takes to be free?
You are free?
Really?
I am jealous.
Free people are very dangerous.
Free people don't play the game.
Very dangerous indeed.
It all boils down to perspective now doesn't it.
Homelessness eventually sucks, you'll find. When one cuts all ties to the state, its liberating at first, but eventually you want to rent or 'own' a roof not made from cardboard, whereupon you'll be a rent-boy again, just like the rest of us. And the best dumpsters are often scenes of violence.
I'm not really mocking you, brother. I'm making the point that the system has made it impossible to be free without being a literal scavenger for everything, or running afoul of the law. When you plug into the system at all they bleed you, stealing your freedom bit by bit.
Not impossible, however like all good things it requires sacrifice, diligence, and desire........just like Liberty. When one stops relying on others for that which they should be doing for their self, life becomes worth living. Willful ignorance is no excuse for remaining plugged into the machine. Eventually all things worthwhile will be unlawful. Will you perpetually comply? Will you double down on the Prozac and just keep plugging away, knowing the futility of it all yet choosing to remain powerless to exercise your own free will out of fear of reprisal? Many have paid the ultimate price for our freedom; was the sacrifice in vain? No one is compelled to follow unjust laws.
here on the west coast we have taken up stand up paddleboarding, not only for the zen of finding balance on the open sea, but also for the hunting. we have turned the boards into crabbing vessels, we spearfish for flounder and whatever. when the stores go empty, people will wander around pandering for scraps whilst we boil up another batch of dungeoness and pan fried flounder. survival skills is in a bull market.
black teacher in LA who made some "anti semitic" remarks here...
http://www.youtube.com/watch?feature=player_embedded&v=IMjm4LxFa1c
has been fired now. wow that didn't take too long did it......?
http://www.myfoxla.com/dpp/news/local/lausd-teacher-fired-after-anti-sem...
If I read the interview correctly, the remarks she made were made on her OWN time at an OWS rally. I'm sorry but it is the L.A.school Supervisor who needs to be fired-- also the entire school board. We got to get all these politically correct people closer to the hangin tree. Milestones
If I read the interview correctly, the remarks she made were made on her OWN time at an OWS rally. I'm sorry but it is the L.A.school Supervisor who needs to be fired-- also the entire school board. We got to get all these politically correct people closer to the hangin tree. Milestones
right. she deserves our support. and her job back, with compensation from the taxpayer.
because we want people like that educating our kids.
douchebag
Forgive her, Dave. She doesn't know that a full 13% of the people at the highest levels of the banking cartel are in fact NOT Jewish. Why does she assume the 87% (I'm pulling those numbers from my ass) are Zionists? Because shes uneducated. She doesn't get that the banks are just a front for the real Zionist power. At least that's what I read somewhere. Probably crap.
Illuminati not Jews. The Illuminati Oligarchy is the real 1% that needs to be targeted, and not becuase of their wealth, but because of their MISUSE OF POWER. I don't think the "blame jewish people" technique isn't going work this time.