Alan Grayson grills Ben Bernanke on Foreign Lending - Dprogram.net

[0joesixpack0]

In the video above....

The swap was conducted at the height of the Euro Aka the low of the dollar where the euro was worth 1.60 dollars. So after that swap the euro plummeted. I am sure the banks are well aware of what will happen before it happens on the FOREX exchange due to the large sums of money they transfer. (this was a result of the housing bubble) I think the congressmen was addressing this fact when he was cut off. Its a shame you only got five minutes to quiz Bernanke.

[patbarkley]

@0joesixpack0

The swaps are repaid at the same rate they were put on.

I'm not sure what your point is.

[riprandy318]

@patbarkley lol are you another one of those little blind sheep??...

[patbarkley]

@riprandy318

Are you one of those little morons that doesn't know the first thing about banking?

[riprandy318]

@patbarkley haha you must be one of those paid trolls being paid with soon worthless paper federal reserve notes. Time to grow up kid, leave the nest , and start fighting for your country

[patbarkley]

@riprandy318 Yes, it's obvious that all 300 million people in the US who know more than you are paid trolls.

[BBCater]

"To financial institutions in Europe, and other countries". Europe isn't a country.

His entire power comes from the Federal Reserve Act, which (coincidentally) also happened to be passed the SAME year as the 16th Amendment (graduated income tax), which was 1913. I'm sure Bernanke would ALSO consider this a "coincidence".

It's pretty easy to see the blueprint for the destruction of this country if you drop your party allegiance and look objectively. We think in years. They think in decades.

[joygarner]

This is NOT about race, (see below). These banking cartels are comprised mostly of the same families (descendants) of those who funded Hitler.

I am so glad HR 1207 is getting support. Too bad it didn't happen sooner. Thank God for the internet. It's much harder for them to hide what they are doing.

[FiveMilk]

fuck the international banksters - they are going down!

[chance823232]

bernanke is going to burn !!!!!!!!

[littlemisspissy]

Grayson did a fine job of showing why Bernanke is truly the poster boy for why the Fed should be abolished.

[VirginianAmerican]

You GO Greyson!!!

More Democrats like you and I'll come back to the party!!!

[BabybooR33]

haha... watch him squirm!!!!!

[TheNilesLeshProject]

Just using dollars(Fed notes) as the worlds reserve currency creates margins(profits) for the international banks that comprise the Fed through liquidity(risk) in the currency market, all of which undermines dollar value(buying power) through global inflation

Bernakes admits that trillions of FED dollars are going directly to foreign central banks, but he does not admit that this is wealth taken from American tax payers, which will be paid back from direct taxation of future American labor

[patbarkley]

@TheNilesLeshProject "Bernakes admits that trillions of FED dollars are going directly to foreign central banks, but he does not admit that this is wealth taken from American tax payers"

Ummmm..the Fed doesn't use taxpayer dollars. The nasty foreigners paid back the swaps.

Now what will you whine about?

[TheNilesLeshProject]

@patbarkley Correct the FED doesn't use tax payer dollars because tax payer dollars do not exist. The Fed uses Federal Reserve Notes which it sells to the US for Treasury Bills(T-Bills). T-Bills are promissory notes backed by the future wealth(risk/debt) of the US. This risk is put back into the money supply as inflation and is interest. he Fed then buys back Fed notes with inflated T-bills, so while not technically a tax , the inflation and debt interest essentially create a surcharge

[0joesixpack0]

@patbarkley @Niles lesh Project. You're both right. This particular transaction was a swap and not a loan so we just traded dollars for euros. My concern is that the Fed and all other banks only need 5% in reserve. They loan out 20 times what they actually have. If I did this it's called fraud. Fractional reserve banking blows bubble after bubble when it was supposed to stabilize prices. All I see is bubble after bubble and everything going up except my paycheck. Fractional reserve sucks

[patbarkley]

@0joesixpack0 "They loan out 20 times what they actually have"

Huh? If they get a deposit of $1000, a 5% reserve means they hold $50 and can loan $950.

That's loaning less than what they have, not more.

"If I did this it's called fraud"

Why is loaning a portion of deposits fraud?

[0joesixpack0]

@patbarkley Example of deposit multiplication

The table below displays the mainstream economics relending model of how loans are funded and how the money supply is affected. It also shows how central bank money is used to create commercial bank money from an initial deposit of $100 of central bank money. In the example, the initial deposit is lent out 10 times with a fractional-reserve rate of 20% to ultimately create $400 of commercial bank money. Each successive bank

[patbarkley]

@0joesixpack0 Thanks for ignoring your silly claim that banks lend "more than they actually have".

LOL!

[0joesixpack0]

@patbarkley Didn't feel like finishing reply because i ran out of characters and do not feel the need to explain the difference between central bank money and commercial bank money. As you do not see there is NO difference although they would like you to believe there is. Thats why we have bank runs . central banks loan out more money on the taxpayers backs through the use of bonds.that is WHy we have inflation and why banks as a whole lend out more money than there is in existence. wiki it

[patbarkley]

@0joesixpack0 Central bank or commercial bank money, doesn't matter.

Banks still lend out less than deposits, not more.

And certainly not 20 times their deposits.

[0joesixpack0]

@patbarkley They multiply the amount of money in the system. Read the wikileak over and over again. I did not say individual banks loan out more money I said the SYSTEM loans out more money than is in existence. That money comes from the central bank and is spread out by the big banks to smaller banks to the consumers who pay the taxes to pay off the bonds issued by the government to the central bank. So in essence all interest and loans are taxes and money is debt. There are better systems

[0joesixpack0]

@0joesixpack0 should be wiki link not wiki leak Freudian slip. LOL. WIKI "FRACTIONAL RESERVE BANKING" Bill Still has the right idea but he does not give specifics on how we can bow out of our debt gracefully and return to a debt free system. I know how and will make a video explaINING THE PROCESS.

[0joesixpack0]

@0joesixpack0 File:Components of the United States money supply2.svg

Not sustainable dude. Collapse is inevitable but too many people are making millions to allow it to stop.

[patbarkley]

@0joesixpack0 You said, "They loan out 20 times what they actually have"

No individual banks does that. When you add up all the banks, they don't do that either.

Banks cannot loan more money than is in existence, that is mathematically impossible.

I have money that isn't debt. The $20s in my wallet neither earn nor cost me interest,

[0joesixpack0]

@patbarkley You are not seeing the circle. Where does the Central bank get the money? From the Taxpayers future contributions thats where. Its an ever widening circle. Self perpetuating debt never ending or beginning. The failure to link the bonds to the central bank is where most people get stuck. The bonds complete the circle which is why all money is debt. If I take out a loan and deposit it in A BANK THAT BECOMES AN ASSET TO THE BANK AND THEY LOAN AGAINST LOANED (INDEBTED) Money.

[0joesixpack0]

@0joesixpack0 The twenties in your wallet are CURRENCY which is in the loosest sense money in limbo before it moves back into the debt circle. Currency is the medium of exchange. MOney is the structure of the exchange. and in this case money is debt. Self perpetuatioing circle of debt controlled by the ten largest banks in the world. before the bank bailouts ten banks owned 54% of the world's assets. Now its over 70% You think they want to give up that power easily!???

LMFAO.

[patbarkley]

@0joesixpack0

So money is debt except for my money which isn't. LOL!

[0joesixpack0]

@patbarkley I watched the beyond money as debt series and am interested in more info. As we are on the same page. The case about the mortgage looks flawed though as the mortgage would hold true if it was underwritten by Fannie mae or whatever. If it was a privATE MORTGAGE IT WOULD NOT EVEN SHOW UP. I fail to see how the mortgage (a lien on the property) disappears because they got married.

[patbarkley]

@0joesixpack0

The Central Bank creates money out of thin air.

No taxpayer contributions required.

If you deposit money in a bank, that is a liability to the bank, not an asset.

[0joesixpack0]

@patbarkley My understanding is that the US treasury prints bonds out of thin air in exchange the FED prints the money. The FED then sells the bonds which are IOUs to the bondholders that are paid back through taxes. Which completes the circle. If you print more money you have to sell more bonds to keep inflation low.

[patbarkley]

@0joesixpack0 The Fed does not buy bonds from the Treasury.

[0joesixpack0]

@patbarkley Thank you for showing me the beyond money as debt series. It did clear up misconceptions which I will have to retract in some of my videos. I had the structure wrong but not the manipulation tactics the banks use. Im styil puzzling over video three in the series. when they got married they moved back together. So The original seller took his money and put it back into the mortgage thus paying it off. I guess this assumes the house had been owned in full by the seller before.

[0joesixpack0]

@patbarkley Thank you. I see that the fed has to use the open market by a designated deALER (Would love to have that job) To buy and sell bonds and securities depending on what type of bad debt is out there. This makes sense. Then the baks can lend to each other using their reserves at the central banks. I say we organize a bank run and really screw some things up. I know some soccer player form spain did it.

[patbarkley]

@0joesixpack0

"To buy and sell bonds and securities depending on what type of bad debt is out there"

Bad debt? They trade Treasuries and other government guaranteed bonds.

Of course at the rate Obama is going, that'll be bad debt very soon.

[0joesixpack0]

@patbarkley That was what TARP was all about.

[patbarkley]

@0joesixpack0

TARP wasn't the Fed, it was the Treasury.

TARP didn't buy bad debt.

Bank TARP was preferred stock.

[0joesixpack0]

@patbarkley but the fed had to print the money to buy the Tarp's did they not? Then when the banks could buy back the TARPs they could. Or did the money come directly from the treasury?

[patbarkley]

@0joesixpack0

The Fed didn't buy "Tarp's"

The Treasury borrowed money and used it to support the banking system.

The Fed wasn't part of TARP.

[0joesixpack0]

@patbarkley i Will look aT YOUR VIDEOS AS YOU AND i ARE BOTH LIBERTARIANS TO SOME EXTENT BUT i DO NOT KNOW IF YOU ARE A LEFT OR RIGHT LIBERTARIAN. I am going on what I learned over the past three years while trading currencies. If I am wrong I am willing to admit it unlike many of my counterparts. But I still say if I deposit loaned money in from one bank into another then they loan against that loan that is money multiplication.

[patbarkley]

@0joesixpack0

Fractional reserve means they loan less than deposits.

[0joesixpack0]

@patbarkley And Niles. You're both right. These transactions were swaps and not loans. And the foreigners paid back the negative swap. My beef is with fractional reserve banking as a whole. All I see is bubble after bubble and a constant rise in prices. Gas $1.40 a gallon and they decide to start injecting money into the economy?!! gimme a break It would have corrected itself because more money would be in average Joe's pockets so they could spend. Promote GENERAL welfare? I think not!

[marderend]

Correct me if I am wrong, but wouldn't lending Dollars to foreigners, with a low interested rate, would boost our export?

[cajunsatan]

It would if we had any exports.

We are the worlds biggest IMPORTER, not exporter.

[TheNilesLeshProject]

Grayson did a great job getting Bernake to disclose the whole Fed as a group of foreign agents profiting from Americans

The constitution does not permit the treasury to make foreign loans without appropriation

Bernake, " We are not the treasury..."

Bernake, "Congress did approve it with the Federal Reserve Act."

Bernake, " that was a long time ago"

Grayson,"hahahahahahahaha, ok"

Brilliant !