Skip to comments.Unelected, Unaccountable, Unrepentant: The Federal Reserve To Bail Out European Banks
Posted on 09/16/2011 12:23:16 PM PDT by Graneros
For a moment, imagine that there is a privately-owned organization in the United States that can create U.S. dollars out of thin air whenever it wants and can loan that money to whoever it wants to. Imagine that this organization is able to act with the full power of the U.S. government behind it, but that nobody in the organization is ever elected by the American people, and that for all practical purposes the organization is not accountable to the president or to Congress. Imagine that the organization is able to make trillions of dollars of secret loans to banks, to foreign governments and even to their close friends without ever having to face a comprehensive audit. Does that sound preposterous? Well, such an organization actually exists. It is called the Federal Reserve, and today we found out that once again the Fed is going to be taking huge piles of your money and loaning it to commercial banks in Europe. The Congress cannot overrule this decision. Neither can Barack Obama. Because it has so much power, many refer to the Federal Reserve as "the fourth branch of government", but unlike the other three branches of government, there are basically no significant "checks and balances" on the Federal Reserve. If you don't like the fact that the Federal Reserve is racing in to help big foreign banks survive the European debt crisis that is just too bad. The Federal Reserve pretty much gets to do whatever it wants to do, and the folks over at the Fed simply do not care whether you like that or not.
So what in the world just happened today? The following is how an article on CNBC explained it....
(Excerpt) Read more at theeconomiccollapseblog.com ...
One world government is just around the corner. Just today Italy says it is willing to give up it's sovereignty for a stable economy. Undoubtedly the other piigs will agree and before you know it the United States of Europe will be a reality. Next up the North American Union then the morphing of Europe and the North American Union. You could read about all this stuff years ago. Of course if you talked about it you were a right wing conspiracy theory nutcase. People will still call you that even though it is taking place right in front of us. It's all playing out as planned.
This is outrageous! What can be done about it?
They can print money, regardless of the consequences.
There is nothing we can do about it other than "fundamental (regime) change."
This cannot be! Who will bail us out when this fails?
Perhaps the Fed realizes that infinite credit and liquidity is the only way to go... ...in a “one world” economy.</profundity></joke> :)
It’s been tried many times before and what has been the result?!
what’s the status of that Ron Paul ‘audit the fed’ bill?
Does this mean those that say Ron Paul is crazy....
Are themselves CRAZY, instead?.....
Marshall Plan II.
Maybe Ron Paul and Peter Schiff aren’t the ‘kooks’ that a lot of people have been trying to make them out to be.
As long as the media says they are, they are in the minds of the 55% of the country that has no idea or who never follows much. They only hear headlines here and there if Britney Spears’ name is mentioned before the news item.
This will not end totally well but we are all armed and ready to defend freedom when the final takeover starts after the collapse, if it happens.
On Fox Business Network’s Freedom Watch, Judge Napolitano said last week that this could happen. I know a lot of people think he is a Libertarian kook as well.
Lest we forget, J.P. Morgan put together a syndicate that borrowed money from the European bankers for the first time and saved literally the bacon of President Grover Cleveland who was within hours of being out of gold and unable to meet treasury obligations. The panic of ‘93 was squashed by European bankers who came to our rescue.
Legally, Congress GAVE authority to the FED when it was created in 1913.
They would have to rescind that and then decide what to use for money. They originally were the only body in charge of the money this country used. They GAVE that to the FED, instead.
It allowed the politicians to buy votes with socialist promises. By using a fiat currency, they could appear to give away money to some voters because of the inflation affect. But the end game is coming. Fiat currencies need debt to live, like a shark needs to keep moving, or it dies.
They are in serious trouble. This is why the housing bubble was allowed. It expanded the debt to keep the fiat ponzi scheme going. Now, this bubble is being held up by student loans. Student loans of your average middle class family is larger than the credit card debt of the entire country. They are letting thousands of young people get into debt, indentured servitude, while they give free money to illegals.
The FED and gutless politicians are absolutely destroying this country.
Maybe, but the money lent to us was real money backed by gold not the fiat money used today. Also they had the real money to loan. America doesn’t have money to loan anyone and in fact isn’t loaning anyone money. The so called loan is made up funny money manufactured by the Fed. Had President Cleveland been in office after the inception of the fed in 1913 and after we left the gold standard in the Nixon years the fed would have printed him money as we are currently doing in America and now Europe. Man what a racket.
No one. Europe and America are running out of road to keep kicking the can down. When it ends, and that won't be much longer, it is game over. Anarchy will rein and the Communists will assume power. This is what they have been trying to accomplish for quite some time now. One can only hope we come to our senses and put a stop to this madness. Unfortunately, IMO, the American people simply don't have the will to do what is required to stop it.