C-Span Video: A Real Jaw Dropper at the Federal Reserve

Vatic Note:  Watch this hero of a man make this speech.   Lets see how long he stays alive. Now this writeup below should clarify anyones doubts about who the real enemy of this nation and its people truly are. My answer to Bernie about how we can make the Federal Reserve more accountable to the people is to do away with them post haste.  

Who should we have a world war against? Not muslim countries, thats for sure, but specifically and narrowly against these INTERNATIONAL NON LOYAL TO ANY NATION bankers and if our government is incapable of providing justice to its TAXPAYING citizens, then its up to its citizens to provide justice for themselves.

That is clear now that we know they also intend to have us taxpayers bailout Europe. Yes, I just scheduled that little piece of felony scumbag theivery up on the blog, if it gets to stay up. Nice, how we just let them continue to rape and pillage us all day and night long and we don't even get paid near what they pay their prostitutes for a lot less. They won't take it where its been given to us. Sorry, but I am livid. But then I DON'T HAVE DIGITAL TV, EITHER. And I drink rainwater rather than fluoride laced lithium.

A Real Jaw Dropper at the Federal Reserve
By Sen. Bernie Sanders, rsn on line, December 3, 2010

At a Senate Budget Committee hearing in 2009, I asked Fed Chairman Ben Bernanke to tell the American people the names of the financial institutions that received an unprecedented backdoor bailout from the Federal Reserve, how much they received, and the exact terms of this assistance. He refused. A year and a half later, as a result of an amendment that I was able to include in the Wall Street reform bill, we have begun to lift the veil of secrecy at the Fed, and the American people now have this information.

C-Span Video - Class warfare - Rich have declared war on the poor and middle class.

It is unfortunate that it took this long, and it is a shame that the biggest banks in America and Mr. Bernanke fought to keep this secret from the American public every step of the way. But, the details on this bailout are now on the Federal Reserve's website, and this is a major victory for the American taxpayer and for transparency in government.

Importantly, my amendment also required the Government Accountability Office to conduct a top-to-bottom audit of all of the emergency lending the Fed provided during the financial crisis to be completed on July 21, 2011, which will take a hard look at all of the potential conflicts of interest that took place with respect to this bailout. So, in many respects, details that the Fed was forced to divulge on Wednesday about the $3.3 trillion in emergency loans that until now were totally kept from public scrutiny, marked the beginning, not the end, of lifting the veil of secrecy at the Fed.

After years of stonewalling by the Fed, the American people are finally learning the incredible and jaw-dropping details of the Fed's multi-trillion-dollar bailout of Wall Street and corporate America. As a result of this disclosure, other members of Congress and I will be taking a very extensive look at all aspects of how the Federal Reserve functions and how we can make our financial institutions more responsive to the needs of ordinary Americans and small businesses.

What have we learned so far from the disclosure of more than 21,000 transactions? We have learned that the $700 billion Wall Street bailout signed into law by President George W. Bush turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country.

Among those are Goldman Suchs, which received nearly $600 billion; Morgan Stanley, which received nearly $2 trillion; Citigroup, which received $1.8 trillion; Bear Stearns, which received nearly $1 trillion, and Merrill Lynch, which received some $1.5 trillion in short term loans from the Fed.  (VN:  now you know why those CEO's got such HUGE BONUSES while people unemployed waited at soup kitchens and had to walk everywhere)

We also learned that the Fed's multi-trillion bailout was not limited to Wall Street and big banks, but that some of the largest corporations in this country also received a very substantial bailout. Among those are General Electric, McDonald's, Caterpillar, Harley Davidson, Toyota and Verizon.

Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations including two European megabanks - Deutsche Bank and Credit Suisse - which were the largest beneficiaries of the Fed's purchase of mortgage-backed securities.

Deutsche Bank, a German lender, sold the Fed more than $290 billion worth of mortgage securities. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.

Has the Federal Reserve of the United States become the central bank of the world?

The Fed said that this bailout was necessary to prevent the world economy from going over a cliff. But three years after the start of the recession, millions of Americans remain unemployed and have lost their homes, life savings and ability to send their kids to college. Meanwhile, big banks and corporations have returned to making huge profits and paying their executives record-breaking compensation packages as if the financial crisis they started never happened.

What this disclosure tells us, among many other things, is that despite this huge taxpayer bailout, the Fed did not make the appropriate demands on these institutions necessary to rebuild our economy and protect the needs of ordinary Americans.

For example, at a time when big banks have nearly a trillion dollars in excess reserves parked at the Fed, the Fed did not require these institutions to increase lending to small- and medium-sized businesses as a condition of the bailout.

At a time when large corporations are more profitable than ever, the Fed did not demand that corporations that received this backdoor bailout create jobs and expand the economy once they returned to profitability.

I intend to investigate whether these secret Fed loans, in some cases, turned out to be direct corporate welfare to big banks that used these loans not to reinvest in the economy but rather to lend back to the federal government at a higher rate of interest by purchasing Treasury Securities.

Instead of using this money to reinvest in the productive economy, I suspect a large portion of these near-zero interest loans were used to buy Treasury Securities at a higher interest rate providing free money to some of the largest financial institutions in this country. That is something that we have got to closely examine.

At a time when Wall Street executives are now making more money than before the financial crisis, how many big banks that paid back TARP funds in 2009 to avoid limits on executive compensation received no-strings-attached loans from the Federal Reserve?

At a time when millions of Americans are paying outrageously high credit card interest rates, why didn't the Fed require credit card issuers to lower interest rates as a condition of the bailout?

The four largest banks in this country (Bank of America, JP Morgan Chase, Wells Fargo, and Citigroup) issue half of all mortgages in this country. We now know that these banks received hundreds of billions from the Fed. How many Americans could have remained in their homes, if the Fed required these bailed-out banks to reduce mortgage payments as a condition of receiving these secret loans?

We have begun to lift the veil of secrecy at one of most important agencies in our government. What we are seeing is the incredible power of a small number of people who have incredible conflicts of interest getting incredible help from the taxpayers of this country while ignoring the needs of the people.

The article is reproduced in accordance with Section 107 of title 17 of the Copyright Law of the United States relating to fair-use and is for the purposes of criticism, comment, news reporting, teaching, scholarship, and research.


Anonymous said...

Extremely interesting and puts the "facts" on the table for all to see..

Anonymous said...

This is all fun & real but the fact remains, "The Fed" was & is un-Constitutional & was jambed into our faces by un-lawfull methods back in 13. This is the same criminal enteprise
our founders forbid & begged us never to let happen lest we end up, "The way we are today!"
This is the top of the organized Khazar Crime rings, Benjamin Franklin once said at a dinner party durring a constitutional convention: "We must NOT let the Jews in this country" He called them Jews but knew they were Khazars hideing behind the jewish curtain. If man kind is to "get along" we must put these folks in their place, A dungeon of NO Return. When the rest of the world is told all the truths of who these folks are & of the atrocities they have created, we will band together like the brothers at arms that we are & rid this planet of this vile scurge, we have to, or "WE" will perrish under their yoke. Nothing I mention is "racist" just the truth. I do not hate anyone,I do hate the fact that we let ourselves to be lied to by the MSM on an hourly basis & NO ONE is doing anything !!!! These jokers belong in the same dungeon as their employers. What should we do with a group of Banksters that created 2 world wars just for proffit ??? The same can be said for the drug trade, leagle & Illeagle !! The list of crimes just boggles the mind & we sit here like stumps, WHERE IS LAW ENFORCEMENT !!!!!! I do believe the first thing We The People need to do to rectify this, is to Take Our Courts Back. Common Law Only. That means: NO Bar Flies Allowed! Common Law dosen't need them. & STOP Drinking City Water!!!

Vatic said...

Yes, you are so right about the illegality of the fed.

Add to that the fact that wikileaks gets no leaks about the fed, Goldman sachs, JP Morgan who is criminally manipulating the silver markets, NOTHING ABOUT ISRAEL and we have posted tons of evidence about Israel, yet no leaks as to their role in our government and banking in all of this, suspicious to say the least etc.... nothing of substance.

Yet we have a courageous Senator and fired journalist, Helen Thomas, who are the only two in the country with courage AND INTEGRITY enough to speak the TRUTH.

What a shame at how far down we have come in our leadership of our gov and industries and journalism in just such a short time. That is the crime and the obvious.

Anonymous said...


Vatic said...

Ms. Helga, no, that is NOT how it will go. We have to change our thinking. THEY ARE IN A HELL OF A MESS. See, we do not realize the power we have to stop all this and do something about it. We have met who will save us and its us. No one else.

There they sit a few hundred to a few thousand at most and here we sit a few million at least 15 million which is only 5% of the population and guess what??? That is all that fought in the American revolution, and WON and beat the best army in the world at the time. The british and here we are against the British once again and their masters, the Rothschilds.


Anonymous said...

VATIC - As I figure it out, there are roughly 1000 Billionaires (Fortune Mag) in the world which adds up to over a Trillion Dollars. Now if you take the Dow Jones Industrials which comprises of the following 30 companies http://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average , it would only take an ant's brain to figure out that they can control the world's stock market's. They can go long or short whenever they want. That is REAL POWER.

Vatic said...

I just wrote a huge response to you about this, Anonymous and they gutted it. So this is bothering them big time. Bernie sanders may well have brought down their entire conglomerate on his own.

What I said in short was that its not just the wealth, its also the traitors in our government that rescinded the protections the markets had against such criminal behavior, so I see that justice will be done either by our gov justice system or by the people if the former fails to work.

Remember, GATA has been collecting years of documentation proving these same cretin theives and perverts have been manipulating the precious metals market and that is still illegal, so they will be busy taking showers in the prisons they own that short the prisoners food and medical care, and I am sure those prisoners will want to express their appreciation in a manner only they can exhibit. That would be nice to hear something in time about how they were treated.


Anonymous said...

If this doesn't light your fire to fight tyranny then you are one of them or brain dead! Time to get off the couch and away from the TV, Americans. Get active, take a stand for liberty (yours), or simply go down with the Titanic! We are listing badly, yet the orchestra plays on.

Vatic said...

If they pass that internet kill bill that wikileaks helped to promote, then I believe you will see something along that order. Those guys assets will be in dire jeopardy. That is for sure. I believe someone or more will make them spend all that criminal gotten gain on replacing such assets. And then they will do it again.

Someone said once and I believe them, it doesn't matter how much security you have, if someone wants to hurt you or something you have, they will do it. You can't stop it if they are committed. So not to worry. I do not see this ending up the way they want.

Anonymous said...

So.....what is the first move?...And what ever that move is, it must transcend between the divide in this country.

Vatic said...

Surprisingly, on this issue, with the exception of the satanists, there is no divide. Both left and right, muslim and Christian see the game, know who the players are and can't be divided.

The first move is to isolate and continue to do what they do and that is use language to speak truth and make that language then the lexicon. I have already started to see that work. Example:

Instead of saying "The Jews" are doing this, say " The satanic Khazars" are doing this. Why? BECAUSE ITS THE TRUTH.... SPEAK PURE TRUTH NOW, Another one.... if the congress and President do something that clearly is against the people and agaisnt their will and against their governing documents, WE MUST BEGIN TO START CALLING IT WHAT IT IS. TREASON....got that? TREASON.

Next, we make it clear in every email, every post on every forum, every commentary on every blog like this one..... WE WILL NOT FIGHT IN YOUR BOGUS WARS, WE ARE NOT CATTLE OR FODDER FOR PROFIT, GAIN AND ISRAELI EMPIRE BUILDING.

Finally, On the issue of currency, since we know their objective is to crash our currency, is to begin locally to set up an alternative currency situation using either US dollars even after they crash, or a serious bartering system. Their entire agenda only works if we cooperate in it.

Begin talking now to businesses and find out their ideas of what they would accept. Remember, they go out of business if we do not have a currency that we can all agree on.

Last but not least study up on leaderless resistance. Its the path of last resort. Begin by talking to your local law enforcement people and find out how much they know about what is going on and find out where they stand for real and do not tell anyone you do not know very very well. Infiltrators and subversives will begin to infiltrate your groups and that is why you must never accept anyone new. They will set you up.

Anonymous said...

Vatic is correct with regard to the term satanists. We are dealing with a group of people who are not of the same clique i.e. zionists, masons, the illuminati - this paradigm is outdated and has grown old and is in fact assisting them to divide and conquor. The above descriptions are nothing but words - adjectives, but so is the term satanist. The latter, however, consist of many people from many different nationalities and cultures. It is time for all peoples of all cultures and beliefs to understand this and band together. This small percentile are raping our planet and are trying to destroy any semblance of health, vitality and happiness we as a whole have by their insane and insatiable lust for power, control and out right greed. They must be identified, rooted out and euthanased as they can not be fixed or cured. They are, in point of fact, in a pathologically rabid state and as you would euthanase a rabid dog to put it out of its misery and remain safe and free from harm yourself, we as a united people must cure the planetary rabies and rid society of this disease. We must ensure our younger generations are told the truth and become fully aware so as to ensure this never happens again.