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Author Topic: "Congressman Grayson: Fed Secretly “Stuffed” $500 Billion into “Foreign Private  (Read 1731 times)
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WhiskeyGirl
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« on: September 17, 2009, 08:57:47 AM »

"Congressman Grayson: Fed Secretly “Stuffed” $500 Billion into “Foreign Private Pockets”

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Just a few weeks ago, while Chairman Bernanke was testifying to Congress, we examined the Fed balance sheet and P&L statement only to find what looked like the Fed handing over half a trillion dollars to foreigners. This was very surprising! When I asked Chairman Bernanke if this was true, he said, “Yes.” When I asked him who got the money, he said, “Fourteen foreign Central Banks.” And when I asked to who did they give the money, he said, “I don’t know.” “I don’t know” is not good enough when you’re talking about $500 billion. That’s $1700 for every man, woman, and child in this country…

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In the case of the half a trillion dollars, they stuffed the money into foreign private pockets. In the case of another $230 billion, it has been tracked as a secret bailout to Citicorp in the US. The fact is the Federal Reserve continuously puts all of us on the hook for decisions they make to play favorites with private interests to the tune of trillions of dollars…

http://www.prisonplanet.com/congressman-grayson-fed-secretly-stuffed-500-billion-into-foreign-private-pockets-and-gave-230-billion-to-citi-as-a-secret-bailout.html

The comments are interesting.

Is the need to keep spending or we'll go broke a cover story for the collapse of the dollar?
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WhiskeyGirl
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« Reply #1 on: September 17, 2009, 09:28:21 AM »

I found a link to this article on prisonplanet.com

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That would be about 2.126 billion shares in total for these four stocks, two of which (Fannie and Freddie) are so far underwater in their equity value (to the government no less!) that there is no chance they're worth anything, yet they remain listed, and the other two are zombie banks with Citibank existing only because of $300 billion in asset guarantees by The Fed and Treasury (which, incidentally, is under investigation, and that assumes that the $300 billion is all there is.  There is persistent chatter that the real amount of "back door support" that Citibank has is closer to a cool trillion dollars, although I've never been able to get anyone to speak on the record in that regard.)

Aren't Freddie and Fannie buying up more and more bad mortgages?  The oBAMA plan for homeowners, that's American taxpayer?

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So let me see if I get this right.  2.126 billion shares traded in four stocks, two of which that accounted for some 900 million of those shares are in companies that by any measure of accounting have absolutely zero common equity value whatsoever (and never will under any rational view of the future), yet NYSE Euronext continues to list them.

These four stocks represented thirty seven percent of all shares traded today.

Today 3,162 different stocks traded on the NYSE.  These four represent 0.13% of the total, yet they comprised 37% of the volume.  That's an over-representation of nearly 300 times the average.

Now folks, let's be straight here.  Do you believe for one second that this is "great liquidity" added by the "high-frequency trading" computers that are almost certainly behind the vast majority of this volume?

This isn't the first day with this sort of abnormal trading and volume pattern either.  In fact it has been going on for the last week, with AIG making a frequent appearance on the list as well.

If there was ever an argument to be made for the NYSE having turned into a gigantic "hot potato" parlor game, this is it - in your face in an impossible-to-explain-away fashion.

NYSE Euronext, of course, derives a fee from each share traded, so they have to love this sort of thing.  The ordinary investor who has a brain sees it as an amusing sideshow, but the unfortunate fool who gets sucked into the maelstrom is going to get destroyed when the computers move on to some other issue and the price collapses as there is no authentic bid out there for any of this crap.

http://market-ticker.denninger.net/archives/1375-Green-Sharts-On-The-NYSE!.html
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WhiskeyGirl
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« Reply #2 on: September 17, 2009, 07:47:41 PM »

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Facing a banking collapse that was unlike anything it had seen since the Great Depression, the Federal Reserve created $2 trillion of assets and debts during the past year to rescue the nation's financial institutions. But it did not make clear to taxpayers just where all of this money went. Taxpayers—involuntary investors in this case—have a right to know who received loans, in what amounts, for which collateral, and why specific loans were made.

The Fed says taxpayers don't have the right to know these things. What's more, it went to court to resist giving an accounting of its actions under the Freedom of Information Act. The request was filed by Bloomberg News through its parent, Bloomberg LP.

...In a 47-page ruling, she found that the facts and the law require the central bank to release its lending records. The Fed is now considering whether to appeal her ruling.

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Any appeal would have to be mounted by Solicitor General Elena Kagan, who reports to President Barack Obama through Attorney General Eric Holder. While the decision is theirs to make, the buck still stops at 1600 Pennsylvania Avenue.

"Openness will strengthen our democracy and promote efficiency and effectiveness in government," Mr. Obama wrote in a letter to all agency and department heads on his second day as president. "Transparency promotes accountability" because "information maintained by the federal government is a national asset,'' he noted. "My administration is committed to creating an unprecedented level of openness in government.''

This is an opportunity for Mr. Obama to make good on his promise...

read more here - http://online.wsj.com/article/SB10001424052970204518504574418761585852036.html?mod=googlenews_wsj
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #3 on: April 06, 2014, 05:56:02 AM »

Yesterday, it seems that $500 billion was disappeared.  Today, $6 billion in the State Department disappeared, nobody knows where it went.  What is wrong with this picture?

Where did the $17 trillion in debt really go? 

It seems like the 'debt' has to keep up with the retirement savings of millions of Americans. 

Ministers say it's 'our money' - they didn't earn it, they didn't save it, and nobody donated it to them.  It is being extracted/stolen/confiscated by people who don't deserve it.

What is wrong with this picture?

Today, 99% of trading is hidden from public view?

What is wrong with this picture?

Why isn't the Federal Reserve an open book?

Why do the rich keep getting richer under Obama?  Why do higher taxes always seem to translate into higher debt, greater poverty, and a shrinking middle class?
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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