Skip to comments.Is Anything Real? Trillions in Secret Fed Payments Revealed
Posted on 12/02/2010 4:08:11 PM PST by Nachum
BEGIN TRANSCRIPT RUSH: Let's go back, audio sound bite-wise, to me on my program, this program. This is March 12th of this year...
RUSH ARCHIVE: The TARP money was not used for its original purpose. There's something else out there, Jordan, you need to know. The Federal Reserve, before the TARP bailout, made loans totaling $2 trillion and they will not tell us to whom. We don't know who got the money. Whether the Fed loans it or the government prints it, it's our money. So you can talk about the $700 billion TARP. You can talk about the $787 billion stimulus. That's nothing compared to the amount of money that the Federal Reserve lent people at the same time: $2 trillion. We don't know where it went and they will not tell us.
RUSH: Well, we now know that it wasn't $2 trillion. We know it was a little over $3 trillion and we know where it went now. Finally we know where some of it went. "The Federal Reserve revealed details yesterday of trillions of dollars in emergency aid that it gave to US and foreign banks and to nonbank companies ranging from General Electric to Harley-Davidson during the financial crisis." So let me pause for just a second. We go to the California and we look at all of the unfunded pension liabilities for the teachers, public employees unions, Teamsters, and the same thing in Illinois and in New York. We have people who have been living on federal dollars, people who have been living well on the public dole. Humongous lifestyles.
And none of it has been real.
(Excerpt) Read more at rushlimbaugh.com ...
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Could SOMEONE EXPLAIN this????? PLEASE!!
Magic Christian comes to mind. The insanity is multiplying. Building upon itself. The people have been dumbed down enough. The information we receive is a big lie.
Maybe the Dems had an installment payment due to Satan.
It’s simple: whenever a society confuses bank notes with money, and forces people to accept bank notes instead of money, the bank debt, compounding exponentially, overwhelms the economy’s capacity to carry it, and the whole thing crashes. The Fed decided to delay the crash by creating more debt, ensuring a bigger crash later. “Gold is money and nothing else”. J.P. Morgan (1912).
‘Could SOMEONE EXPLAIN this????? PLEASE!!’
They all sound like they are taking drugs...
NOT THE SONG!! The ARTICLE!
WHO goes to the FED for LOANS???
I can not believe:A) This whole thing hasnt collapsed like a house of cards, and B) The American People havent revolted and lead another revolution. We were founded on far less corruption and "slavery" to the state than what exists today. Our government is a crimal enterprise. Shocking really. And we the people dont care....Did'ya see the game the other night???/sarc
This is old news
Take out a dollar bill and read what it says on the top... Federal Reserve Note. It's a LOAN document. The Federal Reserve Banks LOAN MONEY INTO EXISTENCE... so, in answer to your question, EVERYBODY goes to the Fed for loans including the Federal Government... and they get the money at a discount, which means it can never be repaid because there isn't enough money to pay the principle plus the discount for what was borrowed!
Rush needs to be listened to tomorrow also.
He and his expert callers make sense out of financial mush.
Today, it was basically that the Obama marxist plan is called Kenesian, and that Kenesian policies call for paper money printed at the Fed, falling from the sky, will cause consumerism to be jumpstarted and thereby boost our economy. The paper is fake, the industrial and corporate loans are more fake paper. Welfare, unemployment checks, health care is provided for the people and must be expanded to keep the people from working and to collapse the country keeping us in permanent state of “needing” the government for all needs.
Kenesian does not work because there is nothing under it to sustain it. No real production, no industry, no creating things, no nothing this country offers itself or anyone else, except consumerism and paper. We just spend our way to prosperity and since we’re broke it’s a dead end.
Lies, malicious and sinister deceptions, corruption and treason. We The People must demand investigations and jail time for those found guilty.
It’s called tyranny and treason, in my opinion.
A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street.
The price tag for the Wall Street bailout is often put at $700 billionthe size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets. To get a sense of the size of the real $14 trillion bailout, see our chart here. Below, a guide to the pieces of the puzzle:
Treasury Department bailout programs (controlled by Rahm Emanuel)
Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokeragesas much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid. Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets." GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion [PDF].
--SNIP--- long read
Federal Reserve bailout programs
Commercial Paper Funding Facility: With the support from the Treasury, the Fed established the CPFF in October 2008 to increase the availability of short-term debt (commercial paper) funding. Up to $1.8 trillion [PDF] was earmarked for the program.
Mortgage-backed securities purchase: In 2009, the Fed earmarked up to $1.25 trillion to buy investments based on home loans.
Term Asset-Backed Securities Loan Facility: TALF provides financing to investors who are buying asset-backed securities. In February 2009, the Fed and Treasury announced an expansion of the program to generate up to $1 trillion in new lending.
Foreign Central Bank Currency Liquidity Swaps: The Fed has provided $755 billion [PDF] for currency liquidity swaps with foreign central banks.
--SNIP--- long read
Can someone post the owners and shareholders of the fed?
Here we go.