At nearly 40 billion dollars a day in lending, the Federal Reserve lent $200 billion last week alone, and in less than a months time, will make the $700 billion look like small potatoes.
Where do they get the money?
They print it!
If you or I printed money when we needed it, we would be thrown in prison, but the Federal Reserve, a privately owned bank, pumps all this money into the system, right under our noses.
Do you know what this will do to inflation??
Watch gold go to $3000 an ounce, not in years, but in months.
Although gold is off its record at slightly below $900 an ounce, GATA Chairman Bill Murphy predicted this week that the U.S. government's $700 billion market rescue proposal for the financial sector will give a "staggering" boost to gold because it would feed inflation and hurt confidence in U.S. markets.
"People from the average American to the sovereign wealth funds are going to pile into the tiny gold and silver markets," said Murphy, who maintained that gold needed to rise to between $3,000 and $5,000 an ounce for market equilibrium.
One reason the rolling financial crisis is hitting regional banks later than it walloped Wall Street is because the very system that is meant to protect depositors -- federal insurance -- has also served to prop up weak lenders. So has the ready supply of credit extended to banks by another government-chartered group, the Federal Home Loan Banks.
Treasury Secretary Henry Paulson, in a little-noticed action on Sept. 7, the day after he announced the bailout of Fannie and Freddie, extended a secured credit line to the FHLB to provide an emergency source of funding if needed.
But he has a silent partner, that no one seems to know about.
The FDIC shares regulatory authority with other agencies. The Office of Thrift Supervision oversees federally chartered savings and loans, the Comptroller of the Currency monitors national banks, and state banking regulators review state- chartered banks.
The Comptroller of Currency.
Who is this?
The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks. It also supervises the federal branches and agencies of foreign banks. Headquartered in Washington, D.C., the OCC has four district offices plus an office in London to supervise the international activities of national banks.
The OCC was established in 1863 as a bureau of the U.S. Department of the Treasury. The OCC is headed by the Comptroller , who is appointed by the President, with the advice and consent of the Senate, for a five-year term. The Comptroller also serves as a director of the Federal Deposit Insurance Corporation (FDIC) and a director of the Neighborhood Reinvestment Corporation.
Guess who is also the head of the Joint Forum. John Dugan
The Joint Forum was established in 1996 under the aegis of the Basel Committee on Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS) to deal with issues common to the banking, securities and insurance sectors, including the regulation of financial conglomerates. The Joint Forum is comprised of an equal number of senior bank, insurance and securities supervisors representing each supervisory constituency.
Current: John C Dugan, Comptroller of the Currency, United States
The Joint Forum is a group of technical experts working under the umbrella of the following three international groupings of supervisory bodies: the Basel Committee on Banking Supervision, the International Organization of Securities Commissions and the International Association of Insurance Supervisors.
A Financial Services
10th March, 2005
Queen Elizabeth II Conference
OF THE CAPITAL
AND BASEL 2 IN THE UK
In developing the implementation plan, the FSA has consulted widely with regulated
firms in various ways, both informally and formally. In addition, the FSA has been
guided by a High-Level Advisory Group that includes senior representatives from the
industry, HM Treasury and the Bank of England, as well as by five standing groups
comprised of practitioners and other experts. These have focused on: credit risk,
operational risk, capital and groups, credit risk mitigation and securitisation.
Now, just in case you haven't figured it out, I will give you another hint as to who is in charge of the global financial takeover.
London - After more than 50 years on the British throne, Queen Elizabeth II is to buy her own private jet for 7 million pounds (13 million dollars), The Sun newspaper reported Saturday. The queen is expected around Christmas personally to choose the interior design of the jet, which will seat 13 people and be for the exclusive use of the royal family
Now, money doesn't just disappear. So where is all the money in the US disappearing to??
The Isle of Man is one of the world’s leading offshore centres affording investors and depositors significant protection though compensation schemes and tight regulation. As a direct result of its very high standards the Isle of Man is a significant offshore banking jurisdiction.
The majority of the world’s leading banks have an offshore presence in the jurisdiction, therefore those interested in offshore banking in the Isle of Man have a wealth of choice of institution afforded them
Note how the queen, Elizabeth II, performs the ceremonial opening of the British Parliament? There, in full view, is the head of the Committee of 300."
The truth is there to see: though we may have heard about the "Opium Wars" in high school between China and Britain, few bother to ask what the war was about. The answer is quite surprising: opium (who would've guessed?) More specifically, it was about the "rights" of British opium dealers (backed by the crown, of course) to enter China and peddle their drugs. The Brits won the war. Supposedly we are to believe that this is all part of history, that the ruling class suddenly became morally disgusted by their involvement in drugging the masses, and then dropped out of the business, where it suddenly became run by evil minorities from the Third World who are now a menace to our morally proper society, which is why we need draconian anti-drug laws and a huge prison buildup.
Apparently the huge prison buildup isn't enough, according to some. This explains the supposed huge deep underground base found beneath the Denver International Airport, which has quasi-Masonic murals smeared with bizarre pictures that even David Lynch wouldn't make. The DIA is reputed to be a Masonic project (that, some believe, involves evil Reptilian Aliens) and is the alleged future site of the control center for the nefarious New World Order. Naturally, the New World Order will need it's slave labor camps (a la Auschwitz and Jonestown), and those Masons and Reptilians have apparently found their spot. Sure enough, Liz II has been reported to be buying up a lot of property in Colorado under a pseudonym.
The national flag of Wales is called "Y Ddraig Goch" (the Red Dragon).
When the Queen crowned Charles "Prince of Wales" she said this,
That verse also says, "And the dragon gave him his power and his throne and great authority." The dragon is "symbolic" to others, but not to Prince Charles. He has a red dragon on his coat of arms. It comes from the flag of Wales, and it is in his title, Prince of Wales, that Charles is heir-apparent to the throne of Great Britain.
At his coronation, he sat on a chair with a large red dragon emblazoned on it. During the ceremony, his mother said, "This dragon gives you your power, your throne and your authority." His response to her was, "I am now your Leige-man, and worthy of your earthly worship." Leige is an old English word meaning "Lord". "I am now your Lord-man, and worthy of your earthly worship."
By the way, Prince Charles Coat of Arms has another symbol--The Order of the Garter. The Order of the Garter is the parent organization over Free Masonry, world-wide. When a man becomes a 33rd Degree Mason, he swears allegiance to that organization, and thereby to Prince Charles.
They can tell us anything they want cause they're LIARS??
Prepare for food supplies being cut off, gas shortages, maybe even power
Emergency federal lending to the FDIC could swell the cost of government rescues of failed financial institutions to more than $400 billion -- not including the $700 billion general Wall Street bailout now under discussion in Congress. Under federal statute, the FDIC must pay back any loans from the Treasury.
That number would be even higher if the government were on the hook for uninsured deposits -- which amount to $2.6 trillion, 37 percent of the total of $7 trillion held in the U.S. branches of all FDIC member banks.
The numbers don't lie. Things are very bad, and will get worse. It's like trying to stop a train.
The trains can take miles to shut it down, and then more time to reverse it.
That's because nationwide our gasoline inventory is shockingly low. Liquidity must be restored soon to this market, or we could be facing a crippling run on the gasoline bank. And if you think Americans are outraged about Wall Street, wait until their Main Street grocery store doesn't get the bread and milk delivery for a week or two.
Now that we know “why” the gas shortage has been so severe and appears to be getting worse, we must ask ourselves how we got into such a short supply in the first place - and how do we get through this without making it worse to the point where it affects food deliveries, a crisis that could be brewing that could easily cause widespread panic and help to usher in martial law. Many of us have been attempting to understand why the 3rd Infantry Division’s 1st Brigade Combat Team has been assigned to duty within the continental United States; however, as Team Bush has clearly demonstrated these past few days, they have known about our financial implosion and sat on it, developing bailout plans to protect the corporations and wealthy, all the while assuring the general public that the “economy was strong.”
The 3rd Infantry Division’s 1st Brigade Combat Team has spent 35 of the last 60 months in Iraq patrolling in full battle rattle, helping restore essential services and escorting supply convoys.
Now they’re training for the same mission — with a twist — at home.
Beginning Oct. 1 for 12 months, the 1st BCT will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks
Many Americans dutifully turned in their meager holdings. But not everyone. Many simply ignored the order, assumed the risks and stashed them away knowing that gold was more valuable than the paper given in exchange.
The Joint Forum's parent organisations, the Basel Committee on Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS), have announced the appointment of Mr John C Dugan as Chairman of the Joint Forum. This appointment is effective immediately and will run until December 2009.
His position as the Comptroller of the Currency in the United States, as a member of the Basel Committee and his extensive experience in financial services places him in an excellent position to chair the Joint Forum.
The activists want to raise global awareness of the neoliberal trade and financial policies of the Bretton Woods Institutions. These policies were established in 1989 in the so-called “Washington Consensus” between the World Bank, IMF and the US Government. In exchange for credits, borrower countries were obliged to implement measures including fiscal discipline, trade and financial liberalization, tax reform and the privatization of state enterprises. These were the principles on which developing countries were to be integrated into the global economy. According to NGOs, however, the policies promote unfettered globalization, causing more poverty and environmental destruction in developing countries.
The International Monetary Fund was founded together with the World Bank in Bretton Woods in 1944. As a reaction to the Great Depression in the 1930s and the devastating consequences of the Second World War, the allies, led by the United States and Great Britain, sought to create an international financial institution to guide the global economy.