Tuesday, October 18, 2011
Understanding the Fed Bailout and TARP are different
Erin Burnett recently interviewed an out of work software programmer and informed him that the bulk of the TARP was paid back with interest and that the federal government made a profit. This was very clever of CNN (Corporate News Network) to point out... when TARP was less than 5% of the bailout and the disastrous float continues. The Fed spends more money than Congress! And it's totally unaccounted for! Some $14 trillion dollars of the bailout is floating out there diluting our dollar and with it our national wealth and this privately-owned banking cartel known as the Fed, no more federal than Federal Express, continues to set interest rates and the money supply in a way reminiscent of the Soviet politburo-style central economic planning. We don't live in a free-market capitalist society, the system is rigged from the bottom on up! The Fed and it's six bankster elites control our economy. From there it's a corporate oligopoly. There are a few thousand elites who control the majority shares in this Corporatocracy who skim the profits and divert assets into offshore partnerships, private equity and public-private partnerships they control. They are the preferred shareholders and Class-A voting shareholders where the public and those holding shares through their mutual funds have common Class-B shares with diluted voting rights! Basically the average worker's 401K has no power in these organizations and the SEC continues under Chris Cox and now Mary Schapiro to fail to protect average investors while Wall Street and the banksters rape us! There is such an obscene revolving door between Wall Street investment banksters and those at the highest level of "public service"... there's nothing "public" about their service... they are there to protect their interests in the house - I say "house" as in the Vegas term where the casino is "the house". The Fed spends our national wealth like its theirs and when they do it serves their member banks and those foreign banks operating outside our great nation! We the People are the forgotten people! We need a R3volution! Vote Ron Paul 2012!