Who bailed out whom?

9 posts / 0 new
Last post
land2341's picture
land2341
Status: Gold Member (Offline)
Joined: Aug 20 2009
Posts: 402
Who bailed out whom?

I know I am slow but what the hey does this mean????

 

http://market-ticker.denninger.net/archives/2186-Did-The-Fed-Just-Surrep...

 

Did the fed just bail out europe??

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: Who bailed out whom?

land2341 - This is incredibly unfair if true.  The Fed creates money that "We the People" back-up with our good faith and credit. 

Our health kill bill is in preparation of austerity rationing and social security is broke.  Our schools and infrastructure are crumbling but we seem to have no limit to spending on wars and genocide and now we are propping up Europe. 

I can see why the international banking cartel would stick it to the U.S. to give Greece and Europe some relief since the Greeks are in the streets and the French are striking.  But rest assured, cowardly and ignorant Americans will tolerate anything.  You can enslave their kids in debt and commit any atrocity under their flag, no worries - they will accept any injustice and humiliation as long as they can watch TV.

Larry 

 

 

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Re: Who bailed out whom?

I smell a rat! Good find L2341. Keep us posted if you find answers.

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Anything more on this?

I haven't been able to find anything out there.

And if anyone can root out the rat it's Larry.

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Re: Who bailed out whom?

I sent the article/link to zerohedge and asked for their take on it. Here's their answer:

tell denninger to post that it was merely a reclass from securitzed loans
into normal loans. nothing shady, and the fed would never make a public
disclosure of money laundering as KD implies
Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Re: Who bailed out whom?
John99 wrote:

I sent the article/link to zerohedge and asked for their take on it. Here's their answer:

tell denninger to post that it was merely a reclass from securitzed loans
into normal loans. nothing shady, and the fed would never make a public
disclosure of money laundering as KD implies

John -

I don't know if that makes me feel better or not.

Especially,

"....and the fed would never make a public disclosure of money laundering...."

land2341's picture
land2341
Status: Gold Member (Offline)
Joined: Aug 20 2009
Posts: 402
Re: Who bailed out whom?
John99 wrote:

I sent the article/link to zerohedge and asked for their take on it. Here's their answer:

tell denninger to post that it was merely a reclass from securitzed loans
into normal loans. nothing shady, and the fed would never make a public
disclosure of money laundering as KD implies

Thanks for digging into that John.  I appreciate that this is a good and solid answer,  but it still feels off somehow.  I looked back some and there aren't any real monster jumps like that that I can see.  But, I could be reading the numbers wrong.   

I'm with dogs on this one.  Some how it doesn't make me feel any better.

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: Who bailed out whom?

The Greek bailout was only around $40 billion (temporary) and we're talking about almost half a trillion.  It doesn't compute.  John99's Zerohedge article may explain much but there are still other questions that should be looked at, for example:

  1. Zerohedge ran an article entitled "IMF Prepares For Global Cataclysm, Expands Backup Rescue Facility By Half A Trillion For "Contribution To Global Financial Stability

    "The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion. The current lending participant group of 26 entities will be increased by 13 new members all of whom will contribute token amount of capital to the NAB. The one country most on the hook in the new and revised NAB - the United States of America, will provide over $105 billion in total commitments, or 20% of the total facility."  Why are we funding international bail-outs when American pensions, health care, 401-K's etc are going broke?

  2. The IMF is taking the lead to do what should not be done - loss of sovereignty to contribute to banks instead of people.
  3. You may remember that the Fed had bee implicated earlier in putting the "dollar" on the line for other countries:

  4. The private Fed has been called out for illegal operations, again:

    April 1 (Bloomberg) - After months of litigation and political scrutiny, the Federal Reserve yesterday ended a policy of secrecy over its Bear Stearns Cos. bailout.I  n a 4:30 p.m. announcement in a week of congressional recess and religious holidays, the central bank released details of securities bought to aid Bear Stearns’s takeover by JPMorgan Chase & Co. Bloomberg News sued the Fed for that information.The problem is this; The Fed is not authorized to BUY anything other than those securities that have the full faith and credit of The United States -Asset in Maiden Lane II totaled $34.8 billion, according to the Fed, which set their current market value in its weekly balance sheet at $15.3 billion. That means Maiden Lane II assets are worth 44 cents on the dollar, or 44 percent of their face value, according to the Fed.Maiden Lane III, which has $56 billion of assets at face value, is worth $22.1 billion, or 39 cents on the dollar, according to the Fed’s weekly balance sheet. A similar calculation for the Bear Stearns portfolio couldn’t be made because of outstanding derivatives trades.

    In other words, they have lost more than half of their value.  This was and remains a blatantly unlawful activity.  The Fed has effectively usurped Article 1 Section 7 of The Constitution which reads in part:  All bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.

    hese actions are unacceptable but promising "never to do that again" is insufficient. In a Representative Republic where the rule of law is supposed to be paramount - that is, where we do not crown Kings and relegate everyone else to the status of knaves, unlawful actions such as this demand that strong and unmistakable sanction also be applied to all wrongdoers in addition to protection against future abuse.

  5. The G20 moves the world a step closer to a global currency; The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.  In effect, the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body.

Hmmmm....will people figure out what's happening?

Larry

land2341's picture
land2341
Status: Gold Member (Offline)
Joined: Aug 20 2009
Posts: 402
Re: Who bailed out whom?

Larry,  I am afraid the very concept of a sovereign body may be an outmoded emotional construct.

Multi-national corporations have no fealty to anyone - except stockholders but that is even questionable - so they have no need or desire to protect any nation's interests.  The "corporation" as it currently exists is so far from its original reason for being it is no longer even in the same thought process.  They are amoral, immortal sociopaths.  And as such most are a danger to anything that looks to protect anything or any one other than themselves.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments