The Fed Under Fire: The Federal Reserve Is The Black Hole In American Democracy

Excellent 8 min film, not to be missed.

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Wall Street Aristocracy Got $1.2 Trillion in Secret Loans

Business Week

Citigroup Inc. and Bank of America Corp. were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits. By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret. 

Fed Chairman Ben S. Bernanke’s [actions] included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. The largest borrower, Morgan Stanley, got as much as $107.3 billion, while Citigroup took $99.5 billion and Bank of America $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress. It wasn’t just American finance. Almost half of the Fed’s top 30 borrowers, measured by peak balances, were European firms.  

Data gleaned [under the Freedom of Information Act] make clear for the first time how deeply the world’s largest banks depended on the U.S. central bank to stave off cash shortfalls. Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret.[...]

Return of the Gold Standard as world order unravels

Telegraph

On one side of the Atlantic, the eurozone debt crisis has spread to the countries that may be too big to save - Spain and Italy - though RBS thinks a €3.5 trillion rescue fund would ensure survival of Europe's currency union.

On the other side, the recovery has sputtered out and the printing presses are being oiled again. Brinkmanship between the Congress and the White House over the US debt ceiling has compelled Moody's to warn of a "very small but rising risk" that the world's paramount power may default within two weeks. "The unthinkable is now thinkable," said Ross Norman, director of thebulliondesk.com.

Fed chair Ben Bernanke confessed to Congress that growth has failed to gain traction. "Deflationary risks might re-emerge, implying a need for additional policy support," he said.

The bar to QE3 - yet more bond purchases - is even lower than markets had thought. The new intake of hard-money men on the voting committee has not shifted Fed thinking, despite global anger at dollar debasement under QE2.

Fuelling the blaze, the emerging powers of Asia are almost all running uber-loose monetary policies. Most have negative real interest rates that push citizens out of bank accounts and into gold, or property. China is an arch-inflater. Prices are rising at 6.4pc, yet the one-year deposit rate is just 3.5pc. India's central bank is far behind the curve.

"It is very scary: the flight to gold is accelerating at a faster and faster speed," said Peter Hambro, chairman of Britain's biggest pure gold listing Petropavlovsk.

"One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money." [...]

‘Anonymous’ targets Federal Reserve chairman Ben Bernanke

rawstory.com

Anonymous has set its sights on Ben Bernanke.

The most well-known hacker group, Anonymous, uploaded a video message to youtube yesterday calling for Fed Reserve Chairman Ben Bernanke to resign, among other things. It's embedded below.

The video begins with Bernanke saying he is 100% confident of his ability to control the income disparity in the U.S. -- the largest of any industrialized country in the world -- on 60 Minutes.

Then it says:

"Democrats have failed us, Republicans have failed us... It is time for us to stand up for ourselves... We must fight back against the organized criminal class... We must launch "operation Empire State rebellion. The operation will commence on June 14th...Operation Empire State Rebellion Engaged."

Anonymous first called for Bernanke to resign on March 12.

The group's latest Youtube video has this description: In this new video release, "as a first step," Anonymous has called for public protests beginning on June 14th, continuing "until Federal Reserve Chairman Ben Bernanke steps down." To make their case, they have presented a list of recent scandalous Federal Reserve actions.

The group also provided a Google Map guide to a series of protests, aimed to "* End the campaign finance and lobbying racket* Break up the Fed & Too Big to Fail banks* Enforce RICO laws against organized criminal class* Order Ben Bernanke to step down."

Details of Flag Day rebellion are described on the Google Map site as such:

This Flag Day, Tuesday June 14th, we will launch a non-violent social movement with this list of demands:

* End the campaign finance and lobbying racket

*Break up the Fed & Too Big to Fail banks

* Enforce RICO laws against organized criminal class

* Order Ben Bernanke to step down

The Banks - #BofA #Citibank #Chase #WF #Ally

Tweet: See FLAG DAY http://bit.ly/mdtXF3 #OpESR

Click on the $ on the map for rally info: #NYC #DC #Chicago #SF #STL #OKC #Flint #WI #Monterey

Here is more information about the Flag Day protest >

The movement has also been referred to as, "CTRL+ALT_BERNANKE."

Here is the Anonymous video message:

If We Can’t Unite To Topple Fed Dictator Ben Bernanke, Our Complete Collapse Into Neo-Feudalism Is Assured

By David DeGraw,  

ampedstatus.org/

The fact that millions of Americans aren’t demanding Ben Bernanke’s immediate resignation proves how horrifically propagandized and unaware the American public is.

As someone who spends 60 hours a week analyzing the news, chronicling every step down in America’s decline, it has become incredibly depressing to see Bernanke maintain his position of power and continue his reign of terror. I can’t even sleep through the night anymore. Colleagues say that they try not to let it get to them too much by telling themselves that there is only so much you can do, and ultimately people get what they deserve. I have always refused to buy into that line of thinking. I know how effective the mainstream media is in propagandizing people, and unless you have significant time to research these issues, there is no way for the average working American to truly grasp the information that they need to. 

All that being said, I’m quickly losing faith in the people who do know what is going on. There are millions of people who read independent news reporting daily and know exactly what is happening. There are millions of people who understand that we now live in a banana republic that is systematically looting the country to enrich one-tenth of one percent of the population. There are also millions of people who understand that Ben Bernanke and the Federal Reserve banking system is the central planning force behind this looting. 

Almost every day there is more evidence of the outright corrupt actions of the Federal Reserve and their primary dealers on Wall Street. Their campaign of economic shock and awe is so overwhelming, there have been so many corrupt actions that it is hard to list them all, or even pick out which ones to highlight as the most egregious. Here are just a few off the top of my head; the audacity of it all, and knowing the obvious consequences that these actions entail, is enough to make your head explode from complete frustration:

Trillions of American taxpayer dollars were given, in secrecy, to the banks/people who were most responsible for causing the crisis in the first place.

After causing the crisis, they took our tax dollars and gave themselves all-time record-breaking bonuses.

They gave American taxpayer money to foreign banks and corporations, with billions going to places like Libya.

They funneled hundreds of millions of taxpayer dollars into to the Cayman Islands, robbing us some more by directly subsidizing tax evasion.

They also added to the deficit by lending American tax dollars to their primary dealer banks, so the banks could then lend that same money back to the government at higher interest rates, leading to significant profits for the banks, at the further expense of the American public.

Through bailout programs they gave sweetheart deals to their friends, which socialized any loses and privatized all the profits.

They aid and abet trillions of dollars in accounting fraud.

They routinely manipulate the stock market.

And now, to top it all off, they are deliberately causing inflation in food, gas and basic necessities, while devaluing the dollar.

As I said, the list goes on, and you are probably grinding your teeth thinking of other egregious examples that I haven’t mentioned.

All of this can be summed up by the fact that we now have the most severe inequality of wealth in American history. The Fed’s policies have strategically and deliberately impoverished tens of millions of people to enrich what amounts to a small group of global bankers. They have aided and abetted trillions of dollars in fraudulent activity. This is not a conspiracy theory! This is the unfortunate reality of our crisis. 

It is not hyperbole to call Ben Bernanke a financial terrorist who is committing crimes against humanity. This is a bold and blatant fact. At this point, no one can seriously debate against this anymore.

Watching Bernanke stride to the podium, smiling for his scripted press conference on Wednesday, was yet another depressing moment in our downfall. People keep debating why it was that Bernanke gave the press conference. Some say that it was a defensive tactic, an acknowledgement of the need to increase the propaganda campaign and cast the “illusion of transparency.” Perhaps, but I feel he also gave the press conference for the same reason that terrorists release video statements. He wants to show the world that he is still a free man who can terrorize tens of millions of people in broad daylight and get away with it. He wants to show us that he can shove our face into the dirt while smiling for the cameras. The main message of the press conference wasn’t anything that Bernanke had to say, it was to show the people of America that he can rob us, set our future on fire and still be walking the red carpet with fawning reporters and cameras flashing in his imperial presence – a way of demonstrating that the financial terrorists are still in charge, running the show. 

We’ve been trying to bring people together to call for Bernanke’s removal and to break up the Federal Reserve banking system. With all the evidence that is now a matter of public record, you would think it would be easy to get people down to Wall Street on June 14th to demand this. Yet, sadly, it is still incredibly difficult to unite people on even this common sense common ground. 

What does that tell you about our future prospects? 

If we can’t even unite to topple Bernanke, our complete collapse into neo-feudalism is assured.

If you are interested in defending your family and future against Bernanke’s genocidal economic policies, send me an email: David[@]AmpedStatus.com