AIG OUTRAGE SHOULD EXTEND TO FED & PAULSON TREASURY
The Fed is NOT the Government! Wall Street Financiers, NY FED, International Central Bankers are to Blame.
Anger, confusion, outrage, misinformation, disinformation, cover-ups, responsibility avoidance, finger-pointing, political posturing, buck passing, ignorance and outright lies – that is what I’m hearing in all the hoop-la over AIG bonuses.
It’s all a dog and pony show, and the real culprits go unnoticed and the main issues are not even being discussed.
After listening all week and all day today to the angry comments about the AIG retainment bonuses, I’ve just about abandoned all hope of saving our republic. There is just too much ignorance about the real causes of the financial meltdown. There has been a corporate feeding frenzy at the public taxpayer trough since the S&L collapse of 1989, and the Enron scandal and throughout the last several decades. It has grown into a Frankenstein Monster in the past decade, but it has taken far too long for the public to become outraged over the criminal excesses coming from Washington and Wall Street. What we are now seeing is the drama over whether the tail is wagging the dog, and which one is Wall Street and which one is Washington, and our real government.
The vast majority of the news MSM TV commentators apparently know little more about the way the Federal Reserve runs the country than the average citizen. Even more appalling is the sad fact that our senators and congressmen seem so ignorant of the nebulous relationship between the Fed and the Government. Reporters are using the terms “Fed” and “government” interchangeably, and this continues to obscure or hide the fact that the “Federal Reserve” is not part of the federal government. The name is deliberately deceptive to give that impression, when the reality is that it a private for profit banking corporation. It is independent of the federal government, even though there is supposed to be some congressional oversight.
Everybody is outraged about the hundreds of millions in bonuses AIG contracted to the key traders in its Financial Services division. What people should be outraged over is the larger issue of who made the decisions to bail out AIG in the first place. It was the Fed’s sole decision, unilaterally, with no approval or oversight from congress to give the first 80 Billion to keep the company from defaulting on its credit default swaps, the worst and riskiest kind of derivatives.
Too Big to Fail? Or Too big to Exist?
Most of that money went out to other counterparties like Goldman Sachs, JP Morgan, Bank of American and so on, all the “too big to fail” financial institutions. IMO, too big to fail is too big to exist. We should have anti-trust and anti-monopoly laws to protect the American people from the kind of financial rape that is now occurring. And financial rape is exactly what it is, and I am not just talking about just $160 million in bonuses. That is just the tip of the iceberg. The entire financial bailout package was a criminal enterprise designed to rape the US taxpayer out of $Trillions. Not that it hadn’t already been going on for 80 years, but the crooks apparently just decided compound interest on the US Dollars they loan to the US was too slow, so they went for the goose what was laying the golden eggs.
It starts with the Federal Reserve Act of 1913, and the handing over of America’s sovereign right to create and manage our nation’s currency to the Federal Reserve System, and all private banks that indulge in the practice of fractional reserve banking. The details are too complex to cover here. See my website for further information. NEXT: Here’s what is wrong with our system: Continue reading
Filed under: bailout, economic crisis, monetary policy, Money Crisis, Socio-Economic Commentary, solutions | Tagged: AIG, ANTITRUST, bailout, banking, economic crisis, FED, Federal Reserve, financial crisis, meltdown, money, MONOPOLY, OUTRAGE, Ponzi, POWER, solutions, TREASURY | Leave a comment »