Well, this is why Ayn Rand used the term “looters” ...
0% interest = Sharia Law
Step 2. Disband the Federal Reserve Bank.
The future of this country and the well being of its citizens are less than incidental to him and HIS interests!
I am embarrassed to be an American right now because it's obvious to the world how truly gullible and idiotic we are in electing THEN tolerating a bounder like this!
This figure is the sum of a series of overnight loans during a period of a few months. Each loan had to be paid back the next morning, and was.
I downloaded a zip file containing 100 spreadsheets showing the amount of each day’s loan to each bank. It is most interesting, since by comparing the dates in spreadsheets, you can find out which banks had to rely on overnight funding from the Fed for the longest period.
There is a reason Christ chased the money lenders out of the temple.
One thing to keep in mind, the FED is owned by the member banks and functions as the central bank of the US. From that perspective it is not unusual for them to feather their own nests I guess. Tiny Tim was the president of the NY Fed and I believe it was he who demanded the Treasury tell Congress they needed a $750billion financial bailout in 08 and TARP was born. Of course, it was used for anything under the sun which had somekind of financial basis to it.
What else do you expect from the Federal reserve?
Seriously why would anyone expect a government created institution with the effective power to “print money” and “lend” that money to anyone would do with that power?
Of course they are going to give it out to themselves and their friends! But more economics corrupting then even that, they will give out that money to economic fraudsters and speculators to finance their speculation & fraud and prevent their otherwise inevitable collapse.
This is precisely what the Federal Reserve was designed to be able to do. It was sold by progressive to a rediculessly nieve public that the Federal reserve would somehow resolve their economic woes but quite the contrary it exacerbated them in almost every way.