What is Digg?367 Comments
- GrandmaSheila, on 11/11/2008, -3/+261FTA
"Apparently Bernanke, that wonderful bipartisan soul who is so competent and wonderful that everyone in the village thinks Obama should leave him in charge is refusing to identify who got almost 2 trillion dollars of Fed cash. Bloomberg News is suing to find out. Personally I really, really, really want to know. What exactly is Bernanke hiding? Who got the money he doesn't want us to know got the money?
This is money that was loaned in exchange for "collateral", by which we mean "trash no one else but the Fed would buy for anything but cents on the dollar". Barney Frank, embarrassing himself yet again, claims the Fed should keep its clap shut because if people know how bad it is, well, there might be a run. I think Barney's missing the point, as long as people don't know how bad it is, they won't trust anyone who might be borrowing large amounts of money from the Fed with crap collateral, because they don't know how bad it is and they suspect it's really really really bad. As in 10 cents on the dollar bad."
So, why are they hiding who got OUR money? Could it be companies like Bushco baby Carlysle? Cheney's old pals at Halliburton?
Rummy's investments?
Please help spread this to the other robbery victims. Congress needs to investigate this stat. - sheeplescareme, on 11/11/2008, -2/+184we cannot expect transparency from the bearded one so late in the game. the people have been asleep at the wheel since 1913. had they been vigilant in their duties as citizens, we would likely not be in this mess at present. the fed must be abolished and our federal reserve notes (or, as i like to call them, our federal debt notes) replaced with a sound money system. no matter what they do tell us about where the money went, we can be certain that we are not being told the whole truth. our current crop of politicians and bankers are masters of deception and double-speak.
- inactive, on 11/11/2008, -2/+148Here is another instance in which the real left and the real right are in agreement. This article is posted by the lefty journal Firedoglake. You will find similar articles on libertarian sites. You will not find such articles on Republican or mainstream democrat sites.
How can we make people understand that American "centrist" politics are not a compromise between different ideologies instead, American "centrist" politics occupy a completely different axis and are written and financed by the power elites in America and other countries.
Neither the mainstream Democrats nor the Republicans serve the American people. - inactive, on 11/11/2008, -2/+128These guys are the biggest swine of all time.
- inactive, on 11/11/2008, -5/+88I wish I could Digg this ten times. The American people had a chance to listen to Ron Paul, but the majority chose to listen to the corporate media instead. They have an opportunity to realize their error, and listen to the man now. So here are some facts:
1. The Fed is a private bank. It enjoys close relations with the Department of Treasury, the White House and Congress, but it is NOT a branch of the government. It is a PRIVATELY OWNED "FOR-PROFIT" ENTITY. (Sorry for the all caps there ... I'm kinda on a roll)
2. Article 1 Section 8: " ... Congress shall have the power to coin money, regulate it's value, and fix the standards of weights and measures." How do you regulate coins value? If they're made of precious metal, you set a weight and measure standard for them.
3. Article 1 Section 10: "No State shall ... emit bills of credit, use anything but gold and silver coin as a tender in payment of debts." If they cannot coin money, and they can't print bills of credit, (issue promissory notes - debt- as money), and they're required to use gold and silver coin, where is that supposed to come from? Ummm ... maybe Section 8?
4. One of the first acts of Congress was the Coinage Act of 1792 legally defining American money. If you're an American with a shred of a functioning f*cking brain, you might want to read it. It defines a Dollar as 371 grains of silver, worth 100 cents or one tenth eagle, and additionally calls for half dollars, quarters, dimes, and half dimes... all made of silver. It defines an Eagle as 248 grains of gold and worth 10 dollars, and calls for half eagles and quarter eagles as well.
We had gold and silver coinage based monetary system from 1792 until 1932 for gold, and 1964 when LBJ killed silver coinage, and lastly in 1971 when Nixon ended Bretton Woods gold backed dollars on global currency markets.
Historically, there have been two kinds of money in the modern world -precious metals, and paper. Historically, paper money has been debt. In removing any connection to coinage, our paper money debt has become the money. When everything in the financial system is debt, it ultimately leads to a select few men who own everything and lord over us. We are no longer free, but slaves to a real world Monopoly game complete with Monopoly money. You can either smarten up and dummy up ... go back to letting them make money off of every hour you work, every dollar you pay in taxes, every dollar you spend into the economy, every dollar the government borrows or creates or spends, ultimately winds up in their pockets. Or we the People can stand up and tell them to ***** off.
Who are they? The Federal Reserve owners. Who are they? The Wall Street banks and the European central bankers.
"If I could have convinced more slaves that they were slaves, I could have freed thousands more." -- Harriet Tubman
"None are more hopelessly enslaved than those who falsely believe they are free." -- Johann Wolfgang von Goethe
The Fed is an illegal and unconstitutional body Congress had no authority to create. They have replaced lawful money with script, and that's WHY the constitution calls for gold and silver coinage ... that's WHY the Ron Paul people call it "sound honest money" - because it inherently is just that. To not use a sound honest currency is not only illegal and unwise, but the greatest true threat to our freedom.
We The People MUST end the Fed, and demand our government obey it's own laws.
Legally, Constitutionally, Physically, What is a dollar? Watch and learn!
http://www.youtube.com/watch?v=1FiaUpeJxcA
http://www.youtube.com/watch?v=FbyQB8e-rQg
http://www.endthefed.us/ - egregiousfdl, on 11/11/2008, -1/+70Two trillion may only be the beginning.
- odigity, on 11/11/2008, -3/+65Look, it's really about time everyone grew up and figured out that the government *doesn't care about you*. Everything you see in the media, and learn about in public schools, is called *propaganda*.
What's happening now is simply an acceleration of what's been happening since the beginning - looting of the public by the political class. It accelerates at the end because the political class have access to the real books, and know that the system will collapse during their reign, so there's no reason to restrain themselves anymore.
It's all explained here - this guy rocks, you should check out all his videos: http://www.youtube.com/watch?v=XBT052jHnmE - Striker101, on 11/11/2008, -0/+59Ya know, 2 trillion is a pretty fair pocketful of change! Equals nearly 20% of the national debt. I wonder if this is posted as debt too? We are supposed to pay an awful lot to cover the mistakes of Gov and the Fed. We have news for you - we refuse!
- odigity, on 11/11/2008, -4/+63Look, it's really about time everyone grew up and figured out that the government *doesn't care about you*. Everything you see in the media, and learn about in public schools, is called *propaganda*.
What's happening now is simply an acceleration of what's been happening since the beginning - looting of the public by the political class. It accelerates at the end because the political class have access to the real books, and know that the system will collapse during their reign, so there's no reason to restrain themselves anymore.
It's all explained here - this guy rocks, you should check out all his videos: http://www.youtube.com/watch?v=XBT052jHnmE - inactive, on 11/11/2008, -24/+80Obama voted for the Wall Street Bailout Ripoff. Actually, he championed it, became its torch carrier. What an asshat is our so-called president-elect.
- inactive, on 11/11/2008, -2/+51It's still hunting season. Maybe it's time to switch to a different prey. Maybe it's time to target the bloodsucking bastards putting this nation into debts that it has no hope of paying.
Apparently we have to let the pheonix burn. What we do when she arises from the ashes will indicate if we wish to be free or wish to be slaves to the bankers. - algaeturd, on 11/11/2008, -0/+48No American Digg user should rest until this is on the front page. And then, they shouldn't rest until we find out who received the money. That they took from us.
- Reaktor5, on 11/11/2008, -1/+41Here's a tip, get rid of the ***** Federal Reserve.
- sheeplescareme, on 11/11/2008, -0/+35it is a difficult task when one looks at how strongly the left-right lie is indoctrinated into the citizens (much like the lie about our great "democracy"). the government does not want people who are unafraid to think out of the box. they want workers who are loyal to their employers. thus far, they have been very successful in their bid to keep the slaves content.
we can only hope that the "change" we are going to get over the next four years is enough to knock some sense into people, though as a pessimist i have little hope in that. the only thing we can do is try to educate others and encourage them to think about their political options, as well as the liberties that they are giving up by sticking to the left-right movement. - tsopranos, on 11/11/2008, -3/+38So did McCain. He suspended his campaign to try to score political points on this remember. Drop the Demo/Repug thing...it's smacks of partisan hackery.
- PeppermintPig, on 11/11/2008, -5/+39Barney Frank, king of the paupers, decrees we need not know what goes on behind the curtain.
- eurekaspringsar, on 11/11/2008, -7/+39Now let me think about this .. If I were a right of center person or a right wing robber baron..what would I do with 2 trillion or more dollars?
I know... make sure wars continue, beat back organized labor movements, fight universal health care, clean energy... and buy up more water rights. - Pyros7, on 11/11/2008, -1/+33I'm glad so many Democrats and Republicans were willing to set aside their differences, reach across the isle, and stand united in this two trillion dollar ass raping of the American tax payer.
- 01010110, on 11/11/2008, -0/+32How the hell do you keep TWO TRILLION DOLLARS a secret?
that is just a stupid amount of money.. you could build 300 Large Hadron Colliders with that.
.or maybe 100 LHCs that actually work - soulkitchen, on 11/11/2008, -1/+332 trillion here, 700 billion there. The dollar is dead guys, we just haven't buried it yet. Do you all realize what we could've accomplished with that money?
- GovernmentSp00k, on 11/11/2008, -1/+29Secret secret! We're not gonna tell you gullible American fools what we did with your money! "trust us - we're here to help"
Their entire $700 BILLION dollar so-called "bail out" err..excuse me "rescue plan!"- farce was a FRAUD from start to finish. This is mass extortion of 300+ million American citizens. Pick up the tab for our criminal friends on Wall Street. After all, you dummies have no choice, only the illusion of it.
Too bad we serfs don't get to "vote" on ***** like this huh.. - wjappe, on 11/11/2008, -0/+27Talk about grand theft, this is mind boggling, call a policeman!
- Equinamin, on 11/11/2008, -0/+26Pens for the Blind...
- metapop, on 11/11/2008, -4/+28the most outspoken one against the bailout was that crazy one... what was his name...
oh that's right RON PAUL - egregiousfdl, on 11/11/2008, -0/+24Surely they wouldn't just steal two trillion and then lie to us about where it went? Terrorists! I mean, financial crisis! I mean, whatever the ***** you people will believe, just hand over the money!
- inactive, on 11/11/2008, -1/+25Right on sister.
What I wonder is if the bearded one worries that the new Bretton Woods may eliminate the greenback as the world's exchange currency and come up with some new coinage and an international Central Bank. What would happen to the Fed then?
(I only assume that he wouldn't lose a lot of sleep about what would happen to the American middle class if that were to happen. Maybe he is really a concerned gentleman who will begin to speak the truth and insist that we protect American industry and American jobs. And maybe flaming monkeys will fly out of his ass too.) - redcolumbine, on 11/11/2008, -0/+24Greed knows no party, no ideology. When you own the vast majority's means to a livelihood, you can demand whatever you want by threatening to grind the country under your heel.
- katiedogg, on 11/11/2008, -0/+22A trillion here, a trillion there...who's counting?
- sheeplescareme, on 11/11/2008, -0/+20studying the history of bretton woods has given me some ideas. the first one established the us dollar as the world's reserve currency, as well as gatt (which was not functional until our con-gresscritters passed wto in '94).
the second one in 1971 was for revisions to the earlier agreement. i remember something in the wsj some time ago where the shortcomings of bw II were discussed at length and they predicted that it would crash no later than 2010, and that a new order would have to be set into play.
one can only deduce that they are setting us up for a new currency. it has been hinted at, though given little attention in the msm.
last month a european central bank member said that they were developing a tri-polar global currency between asia, europe, and the us because they felt that the us dollar could not be revived.
when we get a new currency, i think that it is likely that we shall retain the federal reserve. if it is a global currency, they shall still need a place to "manage" it, as well as disperse it, within the us.
my feeling is that all has been decided, and this meeting is all for show. i am thinking that we shall have new monopoly money by 2013, though that is only my opinion.
and no, i do not think that the bearded one wastes any of his time worrying about the likes of us. - SnaggyMcGee, on 11/11/2008, -0/+19Here's the best part of this $2,000,000,000,000 government handout - we don't even have THAT money! All this "federal money" being thrown around is imaginary! It's foreign debt, like some moron who has a $3,000 credit card balance and spends his $5,000 tax return on a ***** hot tub!
- Bloodwine, on 11/11/2008, -2/+19tsopranos, that doesn't change the fact that Obama supported the bailout.
A lot of congresspeople lost their jobs this election (rightfully so) for voting for the bailout, but Obama comes out of it not only unscathed, but becomes the president-elect? I was really disappointed that McCain voted for it as well.
We should've taken a lesson from Brewster's Millions: "Vote None of the Above!" - Acrinimiril, on 11/11/2008, -0/+17The Fed has been used to rob America since 1913.
The greatest American Presidents protected America from central banking, shutting down the 1st and 2nd Banks of America.
The end of the private Federal Reserve central banks is long, long overdue.
http://www.endthefed.us/
The only thing worse would be a world central bank, we must make sure the Federal Reserve is not replaced with one. - RabidAngel, on 11/11/2008, -1/+18I seem to have misplaced my shocked face.
Who the ***** didn't see this coming? - inactive, on 11/11/2008, -0/+16The money probably went to the Fed itself. There have been a few years where a trillion or so could not be accounted for.
- egregiousfdl, on 11/11/2008, -0/+16Yes, I think *who* is counting is a pretty important question. Very questionable accounting on top of sketchy economics.
- shig, on 11/11/2008, -1/+16"Dude, haven't you figured out what happens when someone comes out and says "Hey, this bank is in really bad shape!'"
A completely natural market correction based on good information? Can't have those anymore. Now it's bailouts with smoke and mirrors. - PeppermintPig, on 11/11/2008, -6/+21Say goodbye and hello to insanity in the Whitehouse.
- roho76, on 11/11/2008, -2/+17AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
- sheeplescareme, on 11/11/2008, -1/+15how much control does the us have over china? i would say little to none. when one takes into account things like our trade deficit with them as well as our governments refusal to hold them to task for things like selling us tainted goods...china is growing stronger and is a force to be reckoned with.
with the drop in the cost of oil and lowering demands for imported goods, we shall likely see a fall in the us trade and current account deficit, along with a corresponding drop in emerging countries combined surplus. if that occurs, then the system put into place at bw II shall likely collapse with a bang.
with the rise of the european union, chinas export growth has become more dependent on europe, while we have begun to borrow more heavily from themto finance our endless wars and prop up our failing economy. since us investors sold their holdings of treasuries and agencies to the worlds central banks, it would seem that europe is also more powerful than the us. i would argue that these holdings, as well as their holdings in our large corporate monopolies and our massive debt were the true reasons for the recent rash of bailouts that we have witnessed. we all know that they are simply band-aids over gunshot wounds but for whom? perhaps we have already been blackmailed into submission.
russia is tricky, since they are emerging again from the shadow of the cold war. i think that the situation with georgia did not play out as hoped by our government at all. if they had been able to show them as bullies and rally support for sanctions, they could have frozen them out again as they are trying to do with this meeting but with international support. it seems though that many foreign governments are displeased with both our response and involvement in that debacle. (note: zbigniew brzezinski hates russia with a passion and he is again a big player in washingtonand political intrigue)
i have no faith in mr obama, especially when it comes to economic policies. his lack of good judgment in that arena has been highlighted by his push for the bailouts and his favour for economic stimulus checks, courtesy of his good friend helicopter ben. it is simple economics that we cannot keep printing money and a lesson that he either missed or has to chosen to ignore, perhaps because he knows something we do not. - inactive, on 11/11/2008, -0/+13OK, you are the person that I need to talk to.
As I see it this can go one of two ways. It will either be a new Western Hemisphere agreement between Europe, Canada and USA (and Japan maybe)
or it will include China and India and some of the other Asian countries but probably not Russia.
In the first case we might retain some control over the currency, in the second case we wouldn't.
The first case would really be an open challenge to Asia. It would pretend to be a continuation of the status quo that has dominated economics, power politics and trade for 100 years, but it leaves out the biggest players on the scene. How would China and India and Russia react to a Western Hemisphere Economic Union?
The second case would level the playing field for all the developing economies and the established economies. There is no way that the American standard of living would survive "free trade" with Asia and Europe based on a currency that we cannot control.
So the real questions are:
How much power and influence does the US still have over China, Russia and Europe?
Would Russia or China gamble their foreign reserves to blackmail us into a binding commitment that beggars our middle class and our poor?
Would Obama be able to stand up to their threats upon the dollar if it meant keeping us out of a trade and monetary system that wipes out the average American? - goes211, on 11/11/2008, -0/+13Neither of you have pointed out where JohnFromChicago is wrong in his interpretation of the constitution.
I am not 100% sold on the gold standard but it must be far superior to a fiat currency system. Because the Fed/member banks gets to create money, they get to use the money first while it has more value. By the time that new money trickles down to the rest of us, it has less value but we pay for this in higher prices.
Look at price stability between the 1700s and 1913. A dollar saved was a dollar earned. Since the creation of the Fed, a dollar is worth something like $0.05. If I save 1 year of my income and stuffed it into a mattress, I get screwed. The system is setup to force spending and risk taking because it is the only way to keep my savings from loosing its earning power. As far as I am concerned this is a moral issue. The Fiat currencies must go!
xadhominemx - At least one of your facts is wrong. There is no independent audit of the Fed or at least it is not released to anyone and therefore is completely worthless. - papile, on 11/11/2008, -0/+13Here it is from a more reputable source http://www.bloomberg.com/apps/news?pid=newsarchive ...
- goldylocks7621, on 11/11/2008, -0/+12Good point. I would add that what is defined as a centrist position keeps on getting moved by the elites to a more authoritarian and socialist position.
- bullhead2007, on 11/11/2008, -0/+12Ahh bliss. I wish I had some.
- goes211, on 11/11/2008, -0/+12I don't think there are many pro McCain people here. However there are a lot of people that don't think Obama is going to be the messiah that many think he will be.
- PeppermintPig, on 11/11/2008, -0/+12Let's not pretend this is remotely economic in nature. Blatant theft and fraud.
- katiedogg, on 11/11/2008, -0/+12Not gone soon enough.
- sheeplescareme, on 11/11/2008, -0/+11thank you kindly. i aim to please but i must say that i disagree with your comment. i do not think that you are at all "feeble-minded."
also, i think that the credit card express shall likely continue, in a sense. there is little chance that our monetary system shall be changed from a debt-based one to sound money without a revolution. while things shall certainly become more difficult for the average american, our government shall continue to spend away our futures without qualm.
i do agree that this meeting is incredibly important, though as i stated earlier, i believe that things have already been decided and this is but a dog and pony show so that the governments can say "we tried, we really tried" when the proverbial s**t hits the fan. - wazzledoozle2, on 11/11/2008, -4/+15Could probably fund the research to perfect fusion reactors and build them all over the world.
But we humans can't seem to accomplish anything unless there is monetary profit involved for somebody. God forbid we accomplish something where the SPECIES profits. - inactive, on 11/11/2008, -0/+11Very good comments.
The coming finance meetings are a crossroads for America. They are very much more important to our future than anything else in the news over the last ten years. Obama will not have his negotiators advocate for the American people, they will be dealing to improve the lot of the same elites that fingered Obama to be The One.
There are too many variables and unknowns for my feeble brain to be able to make a reasonable prediction as to how this is all going to shake out, but one thing is certain: the free ride ride on the credit card express is going to come to a crashing halt at BW3. -
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