The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout
WTF is going on in this country? That's half of our GDP.
To put that in context if divided amongst the US population each and everyone one of us would have gotten just about 25,000 each. Where the heck did that money go?
End the FED (Fuking Everyone Daily)
Can't do much about it. It'll just blow over like the rest of the scandles. Some people got rich as hell off it though, congrats to those slimeballs.
I think it should be made clear that the Federal Reserve is NOT federal and it has NO reserves.
It is owned by its member banks, witch are all the big ones. The only connection to the federal government is that the president appoints the chairman and some of the governors.
So in truth, the article should read "Banks print 7.7 trillion dollars because they felt like it".
we're so screwed...:sad02:
Weird, it's hard to find any coverage in European news on that issue.
And people wonder why Woodrow Wilson's picture is on the $10,000 bill. He gave away their currency back in the 1910's and regretted it before he died.
The Federal Reserve Act - The day America no longer controlled their currency.
The control of interest rates and flow of currency should not be "regulated" by a private institution without governmental oversight. When dealing with compound interest rates, fractional-reserve-banking and our form of currency (fiat) we are surely slaves to international bankers that hold no concept of sovereignty.
158 Central African Republic
159 Sierra Leone
160 Cape Verde
164 Antigua and Barbuda
165 Saint Lucia
172 Solomon Islands
174 Saint Vincent and the Grenadines
175 Saint Kitts and Nevis
181 Sao Tome and Principe São Tomé and Príncipe
182 Kiribati 183 Tuvalu
This was given to faceless entities with no improvement in our economy and nothing to show for it. AND no penalization for those responsible for it.
How the hell did we just give away that much money without very little oversight and almost no tracking, yep that's right LITTLE OVERSIGHT AND NO TRACKING. How come no one has gone to jail how come besides minor cosmetic changes has no real measures put in place for future prevention? Why isn't this spoken about by Obama or any of the GOP nominees or congress (both ailes and both parties)? Partisanship is a joke and is used to divid us while they rob us blind. It doesn matter if you are part of the Tea party movement or the OWS movement both are aware that there are serious problems that no one is addressing. Media is a joke and are run by 7 large corporations with vested interests in keeping you unware, divided and distracted. This is robbery plain and simple.
That's not even getting into our national debt and deficit (which is another topic altogether).
I give up.
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