And Bernanke can’t stop laughing…
The Federal Reserve has opened this Sunday a program to bailout an unknown number of Europe’s central banks.
Since the Fed is only a quasi-governmental agency, it does not have to disclose nor how much nor to whom the money is going, which means that the Fed’s friends (i.e. international bankers) will get all the dough while hardworking American taxpayers suffer through higher taxes and inflation.
AP has more details:
The move comes after the European Union and International Monetary Fund pledged a nearly $1 trillion defense package for the embattled euro, hoping to calm jittery markets and halt attacks on the eurozone’s weakest members.
This is such a crock that the Fed Reserve has no oversight. Congress has always delegated unpopular choices to others and has lost control over and over.
I tend to stay away from conspiracy theories but in these cases have to assume the good ol’ boy network is in full effect internationally. And none can be held accountable.
Evil–I agree. Just about every conspiracy theory I know of “reeks” of baseless political pandering and stupidity.
Yet somehow I am attracted to this one. Anyone thinking “The Rothchilds?” or Bank of Bunders or other vaguely old World money?
Oh wait–I do think the Chinese are waging economic war against us. Looks like they are winning too.
Oops–and then there is Big Business in Bed with only thinly disguised political bought and sold cronyism.
“You Know” when you sit down and start a list, there are actually quite a few conspiracies around. Open as well as covert. Both insidious, long term, on going.
Transparency and Democracy a threat to them all, but only a threat. Not a solution.
@ bobbo + evil
I agree with you both.
Especially on the point on Chinese and economic war.
As its portrayed on TV, with an economic wave of a wand the problems fixed by a trillion dollars. 40 billion, 150 billion 600 billion, 950 billion, now a trillion. Blindme you’ve gotta wonder where they are going next.
Nobody seems to want to talk about what it means – how it works. Its a transfer of wealth – but what goes where from whom and how? I mean all the stuff that was in the world before is still there now. There’s still the same amount of stuff being produced roughly speaking.
I wonder if we really are living through the end of a huge global economic bubble, that is unsustainable – and inevitable that it will burst. What we are seeing is governments desperate to try and keep the charade going.
If you buy into the idea much of the economic progress over the century is fueled by petroleum – and that there isn’t a silver bullet replacement (there isn’t that I know of) then necessarily its a bubble, cos it has to run out at some point.
I mean the the Kuwati oil is predicting it for 2014
http://green.autoblog.com/2010/03/18/kuwaiti-study-conventional-oil-to-peak-in-2014/
I predict we are already there.
I am selling T-shirts with a picture of a big jar of vaseline
All these billions has nothing to do with real money, but fart gas money, that is, ‘Money’ created out of thin air…..electronically created, backed by nothing but fart gas.
When the US states approach bankruptcy, they will also be “saved” with fart gas money created by the Feds. The end result will be a Weimar style hyperinflation.
“… There is no such thing as Paranoia. It’s all true.” – Hunter S Thompson
What happened when we PAID the bills for the USA banks??
NOW what do we get for this money? ITS the question the BANKS ask us when we get a Loan.
SLAP capitalism..KNOCK IT DOWN a point or 2.
For those that may not understand..
These folks LEFT the reasoning/rules of capitalism.
The money has to go in a CIRCLE. IF you cut/shorten the circle, things get strange.
AS the TOP gets increases, SO SHOULD THE BOTTOM. The bottom DIDNT. Min wage should be at LEAST $12-18 per hour, according to the numbers.
The cost of living has gone up, wages have not.
BOSS’s should be doing A’ job, and most are not. The Excuse from the top 2 in Enron was “we didnt know it was happening”.
TOP Corp wages in the world are HIGHEST in the USA by 10-100 times what other nations are earning, and these corps are only Distributing products made at 1/10 the COST if made in the USA, but making 100 TIMES the cost to SELL it.
MOST of the costs, arnt much over what they WERE 15-20 years ago. But we are paying 2-4 times the price as in 1995..
Fed tax in 1970 for corps was 70%(boom years), and was dropped to 30% after, and went LOWER..
Weimar: the post WW1 hyper inflation that drove Deutschland for Lebensraum.
Where are we going to get our WW2?
Bail out France. They are going to save our
butts in world war III!
So they gave the wastrel states that can’t cover their own bills a new line of credit. Unless the wastrel states stop spending more than they make all you have done is blow a wad of money to slightly delay the inevitable.
You’re going to have to burn the credit card.
Dismantle the Fed, I know very unpopular decision among the “elite” Ivy-League set. We just need a tough ol’ man as president, maybe do some DNA farming of Andrew Jackson.
They are selling you stuff and taking only IOU’s from you. Be grateful. If they stop doing that, USA is out.
You are correct Ruuda, but you will never make the readers of this site believe it. They would rather believe some wild crackpot conspiracy theory promoted by Adam Curry on No Agenda. The banking system really is a “good old boy” network, as perfectly illustrated by the period leading to the meltdown, and there is not nearly enough anger being expressed worldwide against this banking system that, through complete hubris, almost took down the economy of the entire planet a couple years ago.
#5 Ergo.
Holy crap man, fart gas money? Where the hell did you study macroeconomics? Still, pretty good explanation though.
It’s easy to ignore the international consequences of running an international con job. Sure the bailed out banks should have paid off european investors (especially the really big ones), but they wouldn’t have made such a killing if they had to give it back, oh and by the way, the government may not be able to get to the Fed, but obviously big money can.
Here in europe, no one is interested in investing in the US, stock exchange, bonds, currency, debt, they’ve totally lost confidence. That is what this is all about, but it won’t work.
‘You said it’s all circling the drain, the whole universe. Right?’
‘Had to end sometime.’
– Richard B. Riddick
#13 – You are wrong. The IMF is headquartered in Washington DC and doesn’t have anything particularly to do with the Eurozone more than it has to do with any other country.
You are also wrong about the Fed not being involved. The entire point of the AP article – the one that you didn’t read – is that the Fed is joining the effort to help prop up the euro(zone).
You poor ignorant gits aren’t even up to 1932, are you?
Any of you realize the Fed makes guaranteed interest on the deal? It costs US taxpayers nothing.
Used to be you could respect someone calling themselves a skeptic. Now it just means dumber than a hoe handle.
To the author of this blog post. 8 of your last 15 posts have come directly from the same blog. I might as well start going there. Thanks for the tip.
I think we are seeing the effects of the Oral Roberts School of Macroeconomics thinking. It is jump up and down all the while screaming conspiracy and crying for the return of Andrew Jackson and slavery.
This is crooked. The Fed board should be in jail if they are doing this. It is no longer government of the people, by the people, and for the people. We need to go back to the gold standard to keep the Fed from printing money from whatever source they want.
#18
DU is not a site for the latest news. I come here to vent and have fun with some of the old guys here. Most here are really great to talk to, including Bobbo, so I find it refreshing. We can be cranky, but at least we’re not too childish hahaha
But if you want the latest news, this is not the place. This is just a site that posts topics purposely to invoke discussions and insanity amongst its members.
seems like the bankers are going to do an “argentina” on the entire planet.
why?
-because they can.
-s
Silence slave!
It’s too late The banksters and their Fascism have already won.
This is not a news story, it’s a poison pen piece. There is no neutrality, no facts, only jumping up and down and spewing hatred. And the rabid dogs have taken the cue…
17,
SO.
WE have spent HOW much to bail out the USA corps, banks, car makers, Airlines, and so forth..
Are you telling me that NOT 1 penny of Tax revenue was used??
IF you think so..
Then WHY ARE WE PAYING TAXES?