Big Banks get Help then Screw People!

[Kodiak]

If our politicians had an ounce of sense or a pinch of courage, they'd give this sick economy the right medicine in the right dosage. 1 tablet of Restraintacillin and 2 measures of Taxreductidone. It might be bitter tasting at the start, but we'd begin to heal this bad case of creditosis. Instead, we're going to get a highly infectious and acute case of inflationitis and interest rate altitudinous-stratospheritosis - along with severe creditaralysis.

[TOM4CWB]

SF3,

In the big 'bail out'... I do not see anyone being given any money... yet.

The banks, GM/Chrysler, everyone so far... have been lent money... not been given money here in Canada.

I hear you saying you can afford to go on strike for a year... and produce nothing... which tells a big big story.

You are prepared to do exactly what you say the big banks are doing!

[SASKFARMER3]

Tom the banks are getting protection from bad loans backed by Govt, Correct. And GM and Chrysler, are getting loans to keep them going. But isn't it kind of funny when the Crap hits the fan Billion dollar a year profit makers again Billion dollar a year profit makers are asking for help. Yes maybe just maybe we could not seed a crop in 2009 thanks to some luck and a big crop in 2008. But lets remember our CWB keeps us from achieving and selling $20.00 wheat and the grain companies stopped letting us price more than 3 months out when prices finally went nuts for the first time in 30 years. We didn't make Billions and Billions and Billions. But we sure paid billions for Fert Chem and Seed. Oh and Bank Fees.

[cottonpicken]

Is everyone aware that the us federal reserve is actually a private company owned by about 300 people.

Funny eh?

[LWeber]

Who owns the Federal Reserve?

The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

[LWeber]

And cotton's google:

http://www.veteransforcommonsense.org/print_blog.cfm?bID=4775

Below is quote from Representative Louis T. McFadden, Chairman of the Committee on Banking and Currency for 12 years as quoted from the Congressional Record

The Federal Reserve Board, ..., has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt...Our people's money to the extend of $1,200,000,000 has within the last few months been shipped abroad to redeem Federal Reserve Notes and to pay other gambling debts of the traitorous Federal Reserve Board and the Federal Reserve Banks...............

SUMMARY OF QUICK FACTS
1a. The Federal Reserve (FED) is a PRIVATELY OWNED, organization. Unbelievable? Check the ENCYCLOPAEDIA BRITANNICA.
b. Below is the list of the owners of the 12 Central Banks:
- Rothschild Bank of London
- Rothschild Bank of Berlin
- Lazard Brothers of Paris
- Israel Moses Seif Banks of Italy
- Warburg Bank of Amsterdam
- Warburg Bank of Hamburg
- Lehman Brothers of New York
- Kuhn Loeb Bank of New York
- Goldman, Schs of New York
- Chase Manhattan Bank of New York

In all, there are about 300 VERY POWERFUL, partly foreign individuals that owns the FED.

2. Although the FED is required to give back most of its PROFITS back to the Treasury Dept., there is NO ORGANIZATION that has the power to AUDIT the FED (not even the Congress or the IRS). This creates a HUGE opportunity for "creative accounting" to hide the profit that ROBS the US Tax Payers Hundreds of Billions of Dollars annually.

3. Every year, a few Congressmen introduced a legislation to AUDIT the FED, and every year, the legislation is defeated. The owners of the FED is the most powerful, invisible lobbying power there is.

4. The owners of the FED own the controlling interests in ALL major media in the US. Rockefeller, through Chase Manhattan bank, controls CBS and ABC and 28 other broadcasting firms. Each of the other owners of the FED also have controlling interest in the US media. This explain why the media have
been silent about the FED scam. The FED fraud is the biggest and longest cover-up in the US today.

5. According to Article 1, Section 8 of the Constitution, the US Congress has the power to print money (The Congress shall have the power...to coin money, regulate the value thereof, and of foreign coin, ..). According to the Supreme Court, the Congress can not transfer its power to other organization like the FED.

HISTORY OF THE FED

After several attempts to push the Federal Reserve Banking Act through Congress, a group of bankers funded and staffed Woodrow Wilson's campaign for President. In 1913, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas, when most Congressmen were on vacation. Naturally, president Wilson passed the Act when he was elected as a pay back to the bankers.

HOW THE OWNERS OF THE FED PROFIT AT OUR EXPENSE

The US goverment runs a $400 billion deficit annually. To cover this, the US goverment issues bonds which are bought by the FED.

Since the FED has the POWER TO PRINT MONEY, it can buy any amount of the US. Government bonds at almost NO COST, save for the expense of printing money (~3 cents/$100).

At this point, the owners of the FED already profit $99.97 for every 3c they invested to print the money. Basically, they exchange something that costs almost nothing to them with the US Government Bonds.

Since the FED can NOT be AUDITTED by the IRS (or even by Congress), most of this profit can go anywhere the FED owners want to. BTW, did I mention that the profit is TAX-FREE?

After buying the bonds, the owner of the FED can either:
1. Keep the bonds, and collect the interest the US Government now OWES them.
2. Sell the bonds to the US Tax Payers or foreigners.

In either case, the FED owners have profitted $99.97 for every 3 cents it invested to print the money. Remember, the FED is a PRIVATELY OWNED corporation, just like the Federal Express. The profit of the FED goes to the FED owners.

The US Government now owes the FED owners the interest on those bonds. Remember that the FED owners DO NOT EARN the bonds. They simply PRINT the money to buy the bonds. In other words, they created money out of thin air, and exchange it for the interest bearing bonds.

In order to pay for the bonds' interest, the US Government taxes the US population.

When a US Citizen holding US Government bonds receives his/her return of investment on the bonds, essentially the money he/she receives is the tax money he/she is paying to the Government.

When the OWNERS of the FED receives the interest on the BONDS they're holding, they are receiving that money for FREE (save the initial 3cent/$100 investment to print the money)! Not only that, the FED owners receive the money TAX FREE.

Under the LAW, the FED is REQUIRED to RETURN its PROFIT back to the US Treasury. However, NEITHER the Congress NOR the IRS have the POWER to AUDIT the FED. The FED has used this obvious loophole to profit via 'creative accounting'.

Consider this: every year, the FED profits by hundreds of billions of dollars by buying US Government Bonds. Yet it only returns ~$20 billion to the US Treasury. The rest of the profit has been spent as "Operational Expenses".

[agstar77]

Un F=ing believable. And you wonder why people have no faith in the system. Rob from the poor and give to the rich.

[wade]

Seems like another case of "No Accountability".

[TOM4CWB]

Wade;

The parallel between the CWB and FED is unbelievable! Both institutions serve the same masters... no wonder we can't rid ourselves of this millstone around our neck!

[cottonpicken]

Not my google and not all that i believe to be true.

Where do you land on this Larry?

[sawfly]

no tom the cwb is not owned by that lot , but it seems you would like it to be.

[TOM4CWB]

Sawfly,

The CWB is owned... by the Agents of the CWB... and the Bank of Canada.

You can't tell me truthfully... there is no connection!