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Federal Reserve - The Banks Corrupt Money Scams

Updated on June 20, 2012

The Federal Reserve has had unprecedented power manipulating not just the economy of the United States but of the world. Over a century ago the United States Congress handed over its Constitutional responsibility to a small select group of bankers.

The Federal Reserve is not a government entity. It is a private club like organization with deep roots in corporate Wall Street personnel and methodologies. The Fed has long been secretive of its financial actions especially with foreign banks.

The Congressional Financial Services subcommittee has been charged with overseeing the policies and actions of the Federal Reserve. The committee lead by Barny Frank has allowed the Fed free reign in financial matters affecting the economy, interest rates, currency value, and printing money.

The media has totally ignored the use of free taxpayer money to bailout banks and corporations. The media has turned its back on its subscribers by ignoring the consistent inflation and devaluation of the dollar through the years.

According to recent documents released by the Fed under pressure by recent congressional law, the bailouts of 2008 and 2009 went far beyond the shores America.

Trillions of dollars were passed on to big name banks and corporations as they pounded on the Fed's door crying for help almost every day. The Fed obliged by lowering its lending standards just as the government and banks did with mortgages that created the worst housing crisis in history.

Banks receiving free money were the worlds largest including Citigroup, Bank of America, Goldman Sachs, Swiss-based UBS, Britain's Barclays, French BNP Paribas, German Deutsche Bank, and the Korean Development Bank. According to 21,000 loan records the Fed paid out money to institutions it would normally ignore.

The Federal Reserve didn't stop at the banks. The fed continued to pour money into the coffers of big business. Companies that you, the taxpayer, spend a lot of money for their products. These corporations included General Electric, Caterpillar, Verizon, Harley-Davidson, and Toyota. There is a battle being fought right now to bail out UPS.

The Fed bailed out General Electric 12 times, Harley-Davidson 33 times, and Verizon 2 times.

In total, the Fed dished out $3.3 trillion under generous terms.

The Fed also bought $600 billion in US Bonds because no investors would touch them.

Not to forget the General Motors bail out, a delusional company, who still owes taxpayers $26.4 million dollars, would rather hand out $400 million in bonuses to employees. Most GM employees make around $100,000 annually. GM’s stock price just dropped to its initial IPO.

Then there was the successful Fannie Mae ad Freddie Mac bailout. Freddie Mac just posted a $1.7 million loss for Q4 and is asking for $500 million in taxpayer funding after already receiving $64 billion. Fannie Mae a $2.1 billion loss!

In 2009 the banks reported their highest profits ever and paid out huge bonuses instead of paying back taxpayers.

The combined cost of these back door bailouts is more than the First and Second World Wars, The Korean War, the Vietnam War, the Invasion of Iraq, the Marshall Plan, and the New Deal.

The Obama Administration has spent nearly more than all previous presidents combined. Yet Obama and the first family continue to live extravagantly. Partying and traveling at taxpayer expense.

The Federal Reserve with the full support of Congress has and continues to scam the people of America and the world. The Feds irresponsible policies have severely drained the public of their hard earned savings. Inflation is now to the point where for every dollar handed over, only 4 cents of product is returned.

America is in serious debt. No longer can the nations of the world, let alone the American people, can count on a strong dollar. The dollar has nothing of value to support its trade value for goods and services. This is why the cost of goods and services are at an all time high.

The American people voted for Republicans in the last election and it seems they are making the effort to cut spending as promised. It has become obvious that the Democrats do not want to get it but do the Republicans get it?

The answer is no! Politicians can cut debt all they want but it will not fix the problem. It will only delay the inevitable. The trillions of dollars of current debt still has to be paid off. How can one pay off debt when each payment is eroded and pays off less than it was meant to. This is what inflation does. Inflation reduces buying power.

Not even the Tea Party gets it! They should be calling for the Fed’s head!

The first and foremost correction has be the dollar. Only by fixing the dollar and backing it with value can it have value. Once the dollar is fixed, all other problems will be easily solved.

But don't hold your breath. The value of money will continue to decrease because politicians and bureaucrats have many reasons to ignore it. After all they're living well at your expense and want to keep it that way! There interest is their own - not yours.

Last year we saw protests and riots in Europe. This year it is the Middle East with China on the brink. There a good chance Europe will see rots again this summer. Make no mistake about it, this is about the haves and have- nots. The have-nots have lost it and are sick of paying for the haves.

Now, as shown in Wisconsin and Ohio it has come home to roost in the US. It will spread nation wide throughout the states. People have had enough and are fed up having their money pay for government politics, unions, and entitlements while they struggle to make ends meet. But those in government, unions, and those are receiving free handouts will refuse to give up what they think they are entitled to. It’s going to get very ugly!

People don’t know or understand what is wrong. But they do know something is wrong and they don’t like it. They will come forward.

“...The spirit was freedom and justice
And it's keepers seem generous and kind
It's leaders were supposed to serve the country
But now they won't pay it no mind
'Cause the people grew fat and got lazy
And now their vote is a meaningless joke
They babble about law and order
But it's all just an echo of what they've been told
Yeah, there's a monster on the loose
It's got our heads into a noose
And it just sits there watchin'...”

Steppenwolf - Monster 1970


The Fed spreadsheets can be found here. Follow the links and note the down loadable Excel and csv files. It takes a bit of work but its all there.

Comments

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    • profile image

      john 

      7 years ago

      Here is something to think about:

      The recent problems with the French banks have been interesting in many ways.

      The investment arms of these banks are speculating on stocks and commodities to make money.Some of theses are called futures -where they bet on future prices of commodities like oil,coffee, cocoa,cotton etc, etc.They hope to make a profit out of these and they do.Some people say that this is the cause of real inflation.Starbucks recently damned them for distorting the price of coffee.now we are banned from speculating of their value as they have huge liabilities in European loans.Fair is fair.Let us see the real value of these wretched banks that are screwing everyone up.Let the speculation on junk banks begin.

    • profile image

      john 

      7 years ago

      We are subsidising the banks to a huge amount.They are screwing our pensions by all their share dealing.The taxpayer also subsidises the low lending rate they get

    • Jed Fisher profile image

      Jed Fisher 

      7 years ago from Oklahoma

      The Gub'ment should have nationalized the banks that own the Fed, and still should. If the banks are so vital to the very existance of America, they should be under government control and staffed top to bottom by federal employees getting paid on the government's pay scale.

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