Posts Tagged ‘Federal Reserve’
Video: Then Congressman Ron Paul Questions Federal Reserve Chairman Ben Bernanke About Real Inflation
Posted in Economics, Federal Reserve, income redistribution, inflation, the Rigged Game, Uncategorized, tagged Ben Bernanke, Federal Reserve, inflation, Ron Paul on Jpm2000000pmFri, 15 Feb 2013 14:54:18 +000013 10, 2010 | Leave a Comment »
Posted in Economics, Federal Reserve, goldman sachs, income redistribution, Market manipulation, the Rigged Game, Uncategorized, tagged Alan Grayson, Chase, Federal Reserve, J P Morgan, Manipulating, stock market on Jam2000000amFri, 01 Feb 2013 11:00:10 +000013 10, 2010 | Leave a Comment »
Posted in Economics, recession, income redistribution, Politics, Recessions, the Rigged Game, wealth redistribution, tagged $9 trillion, Alan Grayson, Ben Bernanke, Elizabeth Coleman, Federal Reserve, Goldman Sachs on Jpm1000000pmMon, 07 Jan 2013 13:39:08 +000013 10, 2010 | Leave a Comment »
Did the Federal Reserve lose $9 trillion. No they didn’t. They gave it to the banks and to rich investors via the banks. The Fed have placed over a trillion dollars on its balance sheets since September 2012. The money is gone, and nobody at the Fed knows who the money went to. What a lie. Under sworn testimony to congress, Elizabeth Coleman, the inspector general of the Federal Reserve, claims to know nothing. And she might not, especially if her job includes remaining ignorant of the trillions of dollars that the Federal Reserve has given away. She performs that function of her job as well as anybody could.
Bloomberg reports that there are “trillions of dollars of off-balance sheet transactions that the Federal Reserve has entered into to,” according to Grayson.
I called it years ago. Back in 2009, the Fed reportedly lent $26 trillion to the banks to save rich investors. That’s a ton of money. The total wealth of the US as of 2009 was $53 trillion. The total Gross Domestic Product of the US is about $16 trillion a year.
The banks reportedly paid the money back less than two years later, which was statistically impossible, given that all US banks combined earn about $150 billion a year. That means only one thing. The Fed fixed its books, the banks fixed their books too, and this was to make it appear that the banks paid the money back. There are ton of crimes being committed in this case, such as tax evasion and money laundering.
Check out the article below for more this these criminal actions on the part of the Fed and the banks.
Posted in Economics, goldman sachs, income redistribution, Mitt Romney, Politics, the Rigged Game, Uncategorized, tagged $26 Trillion, 2012, Barack Obama, Ben Bernanke, Economic blackmail, Federal Reserve, Fiscal cliff, Joe Biden, John Boehner, mitt romney, Ron Wyden on Jpm11000000pmSat, 10 Nov 2012 15:45:19 +000012 10, 2010 | 1 Comment »
We’ve been told a ton of bull shit about the deficit and the looming fiscal cliff, which is a combination of tax increases and spending cuts that will kick in shortly after the end of 2012. We’re told by our corporate leaders, like Barack Obama, Joe Biden, Ron Wyden, Mitt Romney, John Boehner and others that the deficit is too great! They tell us there must be spending cuts and tax increases to solve the problem. This is a total load of bull shit in a grand farce being played out in the halls of congress and the white house to fool the American people. There is no great problem too big to solve. The short term answer to the so-called deficit problems can be found in the words and actions of Federal Reserve Chairman Ben Bernanke.
Back in 2008 or so, the Federal Reserve (the Fed) printed up $26 trillion and loaned it to several banks. According to Bernanke, the banks paid most of the money back by 2011. That means the Federal Reserve has somewhat short of $26 trillion it can simply give the US government. It’s money that’s just sitting there, hopefully collecting interest.
Think about it. The Fed was willing to bail out rich investors, but Obama, the Democrats and the Republicans are unwilling to ask the Fed to do the same thing for the rest of the American people, even though the Fed is sitting on stacks and stacks of cash. Their attitude is simple; what’s good for the 1 percent is way too good for the lower class 99 percent.
Political grand theater is occurring right before our eyes. It’s a great way to get us emotionally involved in an argument with an easy solution other than tax increases and spending cuts.
Yes I know. There are people who will say that it is not possible to use the $26 trillion to save the American people, although it was okay use it to save rich investors from their own stupidity. And these people would be right, but for all the wrong reasons.
Here’s the real reason why it can’t happen. Bernanke lied. The recipients of the $26 trillion never paid it back (Check out the story below). The Fed cooked it’s books, the recipients cooked theirs, to make it appear they paid it back, which was mathematically impossible.
But that doesn’t mean the Fed couldn’t simply print up a trillion or so dollars and help out the other 99 percent of the American people. It should because it can, but it can’t because to do so would change the hidden rules of the grand charade being played out by the 1 percent and their representatives in government, in order to mislead the 99 percent again.
Video: Mitt Romney Says More Dumb Stuff, but Doesn’t Mention the Rich Are the Biggest Government Welfare Queens
Posted in corruption, Economics, Economics, recession, income redistribution, Politics, Recessions, the Rigged Game, Uncategorized, wealth redistribution, tagged 47 percent, Ben Bernanke, Federal Reserve, foreign aid, government handouts, income redistribution, mitt romney, stupid, United States, Wall Street, welfare on Jam9000000amWed, 19 Sep 2012 09:51:32 +000012 10, 2010 | Leave a Comment »
In Wall Street Mitt the Twit’s Bizarre World of the Insane and Out-of-touch-with-Reality, 47 percent of US citizens want the government to take care of them. But it is the 1 percent richest that want government to take care of them, by providing them with handouts called bailouts when they make stupid investment decisions, by allowing them to steal other people’s income via legislation such as free trade treaties, privatization and deregulation scams. There are tons of other government programs, such as wars, military build-ups, private armies paid for with US tax dollars, airports for private airline corporations, not to mention tax breaks, tax cuts and overseas tax havens. Even US foreign aid comes with strings attached, such as the recipient nations must use the money to purchase stuff from the US corporations that serve as income redistribution conduits on behalf of the 1 percent. That means US corporations are the actual recipients of US foreign aid, which jacks up their profits, dividends and stock prices. This is hardly a complete list of government handout or what should be called welfare programs for the rich. Such welfare pushes corporate profits higher, sends dividends for the affluent surging and ignites the value of corporate stocks and bonds. These things benefit the rich and keep Wall Street afloat.
Not only do the rich expect the government to bail them out when they make dumb investment decisions, they also expect the Federal Reserve to bail them out, as well. And guess what? Providing welfare to the rich at the expense of everybody else has become the primary responsibility of the US government and the Federal Reserve.
Ask Mitt the Twit. Free trade treaties helped to pave the way for him to send jobs overseas. US workers lost their jobs, but Mitt pocketed the difference between the old higher US wages and the new lower overseas wages. That’s how Mitt became rich. In other words, Mitt the Twit Romney is too stupid to know that he is rich because he is a government handout/welfare queen. And he thinks that’s what an economy is for; to make the 1 percent richer at the expense of everybody else.
According to Mentally Screwed Up Mitt, those people don’t pay any income taxes. The twit’s claim is ridiculous, of course. It’s true about 46 percent of Americans pay no federal income taxes, but that includes a ton working Americans, a huge pool of retired people and a sizable portion of high income people who hide their income in overseas tax havens, such as the Cayman Islands. Mitt also fails to mention that virtually all income growth, when inflation is factored in, for the last thirty years has gone to the 1 percent. That means they’re going to pay more in income taxes, even if they pay it at lower rates than working people. Mitt is a complete idiot. He’s dumber than George W. Bush, and he was blindly stupid. Mitt probably would never have become rich if his daddy hadn’t been the head of one of the world’s largest auto makers. What a dumb ass!
Check out the video below of Wall Street Mitt the Twit Romney completely out of touch with reality.
Click the link below for a related story and point-of-view from Jesus Christ.
Posted in corruption, Economics, Economics, recession, income redistribution, Politics, Recessions, the Rigged Game, wealth redistribution, tagged Alan Krueger, Barack Obama, Ben bernake, CEO, Democratic Party, earl blumenauer, Economics, Federal Reserve, Free trade, Goldman Sachs, income redistribution, John Boehner, leadership, mitt romney, morgan stanley, Pay, Rand Paul, Republcian party, Ron Wyden, the Rigged Game, Trans Pacific free trade agreement on Jpm9000000pmMon, 17 Sep 2012 15:28:28 +000012 10, 2010 | Leave a Comment »
Number one is real simple. I predicted it in my book, The Rigged Game: Corporate America and a People Betrayed, that income inequality is growing in the United States. President Obama, Wall Street Senator Ron Wyden, the Democratic party leadership, Mitt Romney and the Republican party leadership, know this. They all have the same plan regardless of who wins the upcoming presidential election. They plan to make sure income inequality continues to grow by redistributing income and wealth from the 99 to the 1 percent.
Currently, the 1 percent receive about 30 percent of all income in the US, up from about 7-8 percent in 1980. That means the 99 percent have less money to purchase stuff with, which is why the economy is mired in this Great Recession, jobs are scarce, and the economy is tilting on the edge of an economic abyss that will make our current situation look like the good old days.
There is one key difference between the two; Republicans want to redistribute income to the 1 percent faster than the Democrats. Big Deal. The end result is the same; the economic disenfranchisement of the 99 percent. It will soon be banana republic time in the United States. Political disenfranchisement has already occurred.
“The middle class is shrinking. According to Prof. Alan Krueger, Chairman of President Obama’s Council of Economic Advisers, ‘the shift in income inequality over the last three decades is the equivalent of moving $1.1 trillion of income from the 99 percent to the top 1 percent every single year.’” There’s a reason for this. That’s because $1.1 trillion of income has been redistributed every year on average from the 99 to the 1 percent via free trade treaties, deregulation and privatization scams.
Posted in Economics, Economics, recession, Federal Reserve, income redistribution, Politics, the Rigged Game, tagged 2012, Ben Bernanke, economic growth, Federal Reserve, trickle down economics on Jpm8000000pmWed, 22 Aug 2012 12:52:49 +000012 10, 2010 | Leave a Comment »
The Federal Reserve plans to do everything in its power to spur economic growth except for the things that need to be done, all of which are outside of the Fed’s power. So the latest meeting of the Fed governors was a joke.
Income has been redistributed from the 99 to the 1 percent at record levels for the last several decades. For example, 1 percent now steal nearly 30 percent of total US income compared to about 7 percent thirty-two years ago. The 1 percent also received 93 percent of total US income growth for the last two years. That means the 99 percent have less and less money to burn, severely reducing the demand for goods and services, forcing US businesses to hoard almost $6 trillion because of the lack of demand. By the way, that’s money they’ve stolen via legislation from the 99 percent. Do you see a series of connections here?
One other point needs to be made; trickle down economics never worked. It was a scam. It was only intended to redistribute income from the 99 to the 1 percent. The folks at the Fed, and in the Federal government, have no intention of doing anything about these issues. That means whatever actions the Fed can take to spur economic growth are doomed to failure, even if the actions might result in some minor short term gains.
Click on the link below to see the actions the Fed intends to take.
Federal Reserve Prepared to Take Action on Economy–The Guardian UK
Posted in Uncategorized, tagged Ben Bernanke, election, Eurozone, Federal Reserve, Greece, income redistribution, meeting, unemployment on Jam6000000amSun, 17 Jun 2012 08:27:34 +000012 10, 2010 | Leave a Comment »
The plodding US economy, meager job growth and market tensions over Europe’s debt crisis will hang over Federal Reserve policymakers when they meet next week.
A recent string of weak data on the economy, from rising jobless claims to easing inflation as gasoline prices retrench, has raised speculation that the Fed may act to boost growth.
When the Federal Open Market Committee (FOMC) meets Tuesday and Wednesday, policymakers will know the outcome of Sunday’s Greek election, which could see voters reject the country’s EU-IMF bailout and force it to exit the eurozone. That would be a good thing for the 99 percent of Greece.
However, the Fed will not deal with the redistribution of income and wealth that has occurred over the last thirty years in the United States. That’s what ails the US economy.
The US government has enacted legislation during the last thirty years that has redistributed income from the 99 percent to the 1 percent; the 1 percent now receive about 27 percent of all income generated in the US compared to about 8 percent thirty-one years ago. That means the 99 percent have less cash to buy stuff, so the economy remains fragile because demand for goods and services is weak.
In the meantime, the 1 percent use their ill gotten income to find ways to suck more money out of the of 99 percent, like more free income redistribution trade treaties.
In other words, when the mighty officials of the Federal Reserve meet on Tuesday, perhaps they’ll look at ways to tweak the economy, because they have no intention of dealing with the reality of why the US economy sucks for the 99 percent. That would upset members of the 1 percent who control the US government, and who would then demand the political heads of Ben Bernanke and other Federal Reserve officials.
On the other hand, it’s possible the Federal Reserve is meeting to decide just how they can put more money into the hands of the rich, especially since the Fed has given $26 trillion to the banksters and fixed their books to make it look like the money was paid back when it was impossible to have done so. So perhaps they’re meeting to decide how they can suck more cash out of the 99 percent and give it to the 1 percent. That is their job, or so it seems.