The Federal Reserve wants to keep AIG Secrets

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DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
The Federal Reserve wants to keep AIG Secrets

A top official tells Congress he opposes
unmasking the Wall Street firms that have pocketed tens of billions of
dollars in taxpayer bailout funds

NEW YORK (Fortune) -- Officials shouldn't reveal which Wall Street
firms pocketed billions of dollars in the government's bailout of AIG,
a top Federal Reserve official said.

Firms that did business with the troubled insurer did so "expecting
confidentiality," Fed Vice Chairman Donald Kohn told the Senate Banking
Committee in testimony Thursday. He said publishing a list of the firms that benefited from government support of AIG -- as lawmakers have been demanding -- could undermine trust in the markets and increase financial instability.

Kohn said we would lose trust in the system in the markets if the names of the thieves are released?  He should get his face out of the glue bag - everyone knows the markets are totally corrupted thanks to the Feds FOMC and PPT (plunge protection team)!

New York Times — Trying to draw a line in the sand, a Senate panel told the vice chairman of the Federal Reserve to identify all the parties made whole by the bailout of the AIG or forget about coming back to ask Congress for more rescue money.

Tens of billions of those dollars have merely passed through A.I.G. to its derivatives
trading partners, shielding them from losses. The Fed has refused to
provide the names of those financial institutions, and senator after
senator, Democrat and Republican, said that was an outrage.

“We need to know who benefited, and we’re going to find out,” said Senator Richard C. Shelby, Republican of Alabama and the ranking member of the committee. “The Fed can be secretive for a while but not forever.”

Here we have the truth - plain and simple but no one in the MSM will dare touch it - the Federal Reserve is a private bank that is allowed to keep secrets from our government!  We no longer have a country - we are a client state to wealthy banking elites.  Our monetary policy is being run by the arrogant and criminal Fed who is purposely bankrupting us in order to usher in the fascist central banking consolidation - they politely refer to as the New World Order.

Money intended for AIG was stolen by credit default swap partners.

The Fed is arrogant because they think they have beat us - they own our politicians who pretend to be outraged, they have broken our economy, we have been de-industrialised and they have destroyed optimism.  They are gloating as they talk openly about the new world order that will "save us."

They are over-playing their hand - people are waking up and recognizing that we are being bamboozled.  The one thing they fear more than anything else is a hundred million Americans simply saying no.  It's going to be a long hot summer.

Larry

johnbryson's picture
johnbryson
Status: Bronze Member (Offline)
Joined: Aug 13 2008
Posts: 54
Re: The Federal Reserve wants to keep AIG Secrets

I posted the following on another forum. 

Here’s are some documentaries that detail an alternative version of the truth of the financial crisis and the changes occurring in the world – than what we are hearing in the official news. A prominent Spanish professor of structural economics called Jose Luis Sampedro said a few years ago that we live in a world with two problems which if not stopped would have catastrophic consequences on the world. These problems are:

1. Is that we have the illusion of democracy. That in fact the world was controlled by the wealthy and powerful (ie. central bankers), who through their control of the media (bankers have stakes in all news companies), control of the money creation process, control the democratic process.

2. Our current economic model is based on illimited resources - whereas the world is finite. The documentaries propose how these catastrophic consequences can soon become a reality - through money and assett grabbing by the wealthy and powerful.

These documentaries detail how we are moving from a world of freedom, to a world of slavery through the centralization of wealth by the central banks, through the levying of debt on society where central bankers profit from the system, and by the relinquishing of individual liberties for "security".

We need to start thinking of the disproportionate power and interests of central bankers in driving this crisis - which by the way, was not an accident. We need to also start looking at history differently - and seeing the invisible hand of the central bankers in planting the seeds in the wars and events of the past. We need rise up and push the government to control the money creation process in NA and in Europe. Unless we do this, my guess is that we are headed for a WWIII.

But there is hope. Obama was mainly funded by internet companies such as Microsoft, and Google with only one bank being in the top 5 doners, in contrast to Hillary and McCain whose top dones where all banks. I am hopeful that with Obama in power, Google as of yet not not owned by banks, and websites such as this one, we will be able to educate people about this abuse of power.

The Gig is up

http://video.google.com/videosearch?q=th...

Lyndon Larouche - Firewall

http://video.google.com/videosearch?q=lyndon+larouche+firewall&hl=en&emb=0&aq=2#

From Freedom to Fascism

http://video.google.com/videoplay?docid=...

machinehead's picture
machinehead
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Re: The Federal Reserve wants to keep AIG Secrets

'.. control of the money creation process, control the democratic process.'

This
is a powerful pair of tools -- far beyond the dreams of even absolute
monarchs in the past, who were still constrained by gold-backed money.
The third tool which catalyzes and makes invincible the first two, is management of perception. The
emergence of broadcast radio in the 1920s, soundtrack films and
newsreels in the late 1920s, the development of television starting in
the late 1920s, and finally the science of advertising, persuasion and
propaganda which accompanied these new media, opened the doors to mass
perception management.

By managing perceptions, one can
manipulate the inputs to a 'democratic' process, so as to produce a
desired result. Fiat currency provides the ability to fund the
decisions, largely freed from external financing constraints.

For
instance, the Cold War with communism provided a 40-year-long rationale
for maintaining the U.S. military on permanent war footing. By no
coincidence, the dollar's link to gold was broken 25 years into the
Cold War. (War, including 'cold war,' is inflationary, and forces
suspension of gold convertibility.) Full fiat, unbacked currency
emerged in August 1971. Bingo -- all three tools in place.

After
the Soviet Union collapsed in 1991, the anticommunist rationale
disappeared. But a new one quickly emerged -- terrorism. The first
attack on the World Trade Center occured in Feb. 1993, just two years
later. More strange events followed -- the OKC bombing in 1995; the
Flight 800 explosion in 1996; two attacks on U.S. embassies, and one on
the USS Cole. The devastating Sep. 2001 attack on the World
Trade Center and the Pentagon ushered in a dramatic security crackdown,
in which domestic government surveillance was amped up to previously
inconceivable levels.

Although terrorism provided a potent
rationale for social change, it is a somewhat amorphous threat. By
contrast, financial crisis affects everyone, everywhere, on a direct,
daily basis. With the rationale of 'avoiding systemic collapse,' trillions were
extorted from Usgov on a blind-trust, no-names, blank-check basis. We
have rewound all the way to the 1720 South Sea Bubble prospectus -- 'an undertaking of great advantage, but no one to know what it is.'

Go back to the 1967 Report From Iron Mountain, and
you can see bureaucratic minds grasping at credible social threats --
drugs, crime, environmental destruction, political assassination,
riots, external enemies (including extraterrestrial ones), etc. All of
these were tried, but 'threat fatigue' set in, and they did not prove
effective as ongoing, credible threats.

Financial crisis, as is
being demonstrated on a daily basis, is most definitely a credible
threat. However, it can be pushed only so far, and for so long, before the
mass unemployed become intractable and start to riot. So financial
crisis is not really a promising long-term credible threat either.

However, as a one-off looting operation, financial crisis has succeeded beyond the
wildest dreams of its authors. It sure beats the hell out of blowing up
buildings, which only produced blank checks for the defense and
security sectors. Given that economies are cyclical, financial crisis
can be wheeled out again -- say five years down the road, in 2012-2014
-- for a second round of looting.

To paraphrase one of our great public intellectuals, George W. Bush -- if you're not with us as a Looter, then you're one of the Looted. No
offense to the previous commentator, but the current president is a
member of the former group, just as surely as his predecessor was.
Continuity of Government, friends. It's a wonderful thing -- la cosa nostra ('our thing'), as an earlier, mom-and-pop-scale variant was called.

machinehead's picture
machinehead
Status: Diamond Member (Offline)
Joined: Mar 18 2008
Posts: 1077
Kucinich -- 'nationalize the Fed'

Here is a statement from Ohio Rep. Dennis Kucinich --

Instead of nationalizing banks, we should
nationalize the money system by placing the Federal Reserve under the
U.S. Treasury,
end the fractional reserve system and stop banks from
lending credit into circulation. Then instead of borrowing money from
the banks and creating debt, government can spend the money into
circulation to rebuild and restore America with money for jobs housing,
healthcare and education I will soon be introducing legislation to
accomplish this.

“Banking is not a proper function of the government, but oversight
is. The Treasury Department should not be outsourcing to the Fed its
oversight responsibilities. The Fed, which failed miserably to oversee
the banks, should be put under Treasury instead.

http://kucinich.us/index.php?option=com_content&task=view&id=2708

In normal times, a bill of this sort would not even get on a
subcommittee agenda. But the Federal Reserve has seriously annoyed some
Members of Congress with its outrageous, arrogant secrecy. Threatening
to clip its wings by absorbing it into the Treasury is the ultimate
sanction which Congress can use to browbeat the Fed.

Others, with a completely different agenda, may support the bill
because they want the Fed to print more money. Putting the Fed under
direct government control might facilitate this objective, too. I
seriously doubt, even if the Fed is nationalized, that fractional
reserves would be outlawed. Engaging the 'money multiplier' in reverse,
to wipe out all leverage, would produce a deflation so strong that
prices would fall to 10 percent of current levels.

Fiat currency is wrong, but it's got to be phased out gradually.
When Abe Lincoln's greenbacks were phased out between 1871 and 1879, it
produced a 5-1/2 year recession -- the longest in U.S. history. The
deflationary wave continued for almost 30 years, severely punishing
farmers. Populists blamed it on the gold standard, which was the
beginning of the end for sound money. A metallic standard needs to
ensure that reserves are added as needed to prevent deflation, which is
always massively unpopular.

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: The Federal Reserve wants to keep AIG Secrets

johnbryson

1. Is that we have the illusion of democracy. That in fact the world
was controlled by the wealthy and powerful (ie. central bankers), who
through their control of the media (bankers have stakes in all news
companies), control of the money creation process, control the
democratic process.

2. Our current economic model is based on illimited resources - whereas
the world is finite. The documentaries propose how these catastrophic
consequences can soon become a reality - through money and assett
grabbing by the wealthy and powerful.

Well said!  The creation of money and control of the monetary system are the greatest financial powers of a nation.  It is totally illogical and irresponsible to outsource these powers to a small group of private international bankers who operate in secret.  

'.. control of the money creation process, control the democratic process.'

This
is a powerful pair of tools -- far beyond the dreams of even absolute
monarchs in the past, who were still constrained by gold-backed money.
The third tool which catalyzes and makes invincible the first two, is management of perception. The
emergence of broadcast radio in the 1920s, soundtrack films and
newsreels in the late 1920s, the development of television starting in
the late 1920s, and finally the science of advertising, persuasion and
propaganda which accompanied these new media, opened the doors to mass
perception management.

By managing perceptions, one can
manipulate the inputs to a 'democratic' process, so as to produce a
desired result. Fiat currency provides the ability to fund the
decisions, largely freed from external financing constraints.

Most of the free world media - TV, newspapers, radio, music, magazines, movies, etc.; are owned by 10 international conglomerates  (AOL Time Warner, Disney, General Electric, News Corporation, Viacom, Vivendi, Sony, Bertelsmann, AT&T and Liberty Media).

Larry

GnadenAce's picture
GnadenAce
Status: Member (Offline)
Joined: Aug 20 2008
Posts: 12
Re: Kucinich -- 'nationalize the Fed'

I've lived in Ohio my whole life and have followed Dennis "the menace" Kucinich throughout his political life.  He's been one of the biggest embarrasements to the citizens of Ohio one can imagine. He does, however, validate an old saying my grandfather used to tell me, "everyone has at least one good idea".  Hope it passes.

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