end the fed, end crony capitalism. restore laissez faire and don't give bankers (or gov't officials) a chance to screw over the public. the answer is right in this guy's face...
I agree with everything but why would you say it's a "travesty of capitalism" when in reality it is a travesty of government involvement in the capitalist system?
As long as we get our money back, its okay. They did the same thing in the 80's.. The government has given a majority of their stimulus on new home buyers to help keep the value up, so assets wont end up being 30$ as predicted.
Cheque (or check) fraud refers to a category of criminal acts that involve making the unlawful use of cheques in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership
Geithner is a Traitor and he admits it here> /watch?v=e_I4CYhk6P4 After watching it you tell me if he admits it. Why else would he say "Your Government" when referring to the Government of the United States of America?
Great video. Congress actually did something about this back in January.
Check out Section 402 of the Helping Families Save Their Homes Act of 2009. That provision was added to ensure there is full transparency and no conflicts of interest in these PPIP transactions.
Though it might keep some banks honest, it won't prevent many of them from figuring out a way to game the PPIP.
Are you a teacher, analyst (I mean the honest one), or just a good citizen? Whoever you are, you have a real good grasp and deep insight on the things you are talking.
While the gulliable citizens are caught in the ideological divide between Rep. and Dem, the Wall St. will continue to hoodwink everyone and over compensate their incompetent executives and employees.
Support Ron Pauls Bill to audit the federal reserve bank HR 1207. Goto campaign for liberty website, sign the petition that notifys your representatives in Congress. Also support the 911 truth movement, your life and freedoms depend on it.
The whole libertarian crusade against The Fed is overheated, misguided claptrap!...the 911 truth movement is histrionic, deluded claptrap!....so no thanks!
It is really crazy why some banks hasn't been nationalised. The US government in my view should take control of the shares and kick out most of the managment of these troubled banks. Make a controlled bankrupcy or create a bank fond to clean up the mess, and after some years sell the banks gradually back to privat investors. They governments of Norway and Sweden did this in the early nineties.
Who would know that banking could be this entertaining.
Exactly, it is exactly what got us in trouble, not eveil capitalism but STATE INTERVENTION AND CREATING FRADULENT LAWS THAT BOTH MAKE THE SYSTEM UNSTABLE. The problem is that the law that has been recently created is fraudulent, if it protected everybody and secured JUSTICE, here would be no problem. Therefore, the law should be changed to assure that everybody is treated equally in terms of economic freedom.
You're assuming that a transfer of power occured with the elections. It didn't. The era of deregulation set up this entire scenario,Obama was simply sent in to complete the plan with a Keynsian alibi. It's about time people woke up to the fact that Republican versus Democrat is a facade. Laisser-faire capitalism is not the cure. Well-regulated economies have fared better than the Randists in this crisis. The idea that regulation is a death-knell for capitalism is false, it's a necessity.
The concept of market risk ensuring healthy practice is a utopean pipe-dream. The financial entities have usurped their regulators (government) and have a myriad of opaque schemes that are blatantly dishonest. Brokers manipulate market risk for benefit of some and the destruction of others. Randists are naive at best., although the old girl did make many valid observations on the matter of freedom. That aside, she was no avatar to be followed by mankind, her outlook was abjectly cynical.
The reason why the government has pledged your TAX dollars as collatoral has to do with the fact that they themselves and you local and state governments are bought into these schemes. They say they do not have money to pay for your state and local budget but they are actually holding tons of money in these broken investments on their comprehensive financial reports, but since they made these bad investments they are now just raising taxes and borrowing against your future to reinflate the crap.
As I see this, $7 of the $63 loss in the last scenario gets tagged to the taxpayer through the Treasury Department, and the Fed is on the hook for the remaining $56. Since the Fed is owned by its member banks, doesn't the $56 writeoff then just circle back to Citibank and the rest? If not, I still don't see how taxpayers directly absorb the $56, though indirectly we might take the hit through inflation if the Fed creates money to pay it off.
I believe that The Fed is lending on behalf of the congress. That is why it has to go through them before it happens. So yes The Fed is a private bank that controls the power of making US dollars but they lend this money to the congress when the congress votes to spend it.
TP, for providing Federal Reserve notes as a part of the non-recourse loans, it receives US treasury bonds that are now a liability of the US taxpayer. The group of private banks "issue" this new money out of thin air, get paid recurring interest of 3-4% forever, and the US taxpayer is liable for the interest (and eventually principle repayment)
@Tigerpaws9097826 ur absolutly right.fed is the tool which transfer the wealth from poor people to rich people behind them.the whole system is a curse to >90 %of people.no wonder islam prohibit usury (read interest)
This is banks giving other banks money and is not to do with the former administration other than they started the stimulus plans for money to be given to banks. This money is not going to anything that pertains to war and previous debts created by our former administration. So many people are being overly offended when we continue to criticize the wrong doings of our government. People have been protesting things they find wrong for a long time.
You leave out all other profit mechanisms at banks.
Although your voice, it's like that guy on the train movie with Steven Segal - the one that has Grasier ONE electromag pulse satellite - gone mad- heh.
this video really opens your eyes to the loopholes that companies exploit on a regualr basis. It makes it hard to believe that there is any way to fix this problem if the people that got us into this mess can continue to do what ever they want.
Gee, I wish I could do that magic trick with some bad stock trades that are underwater.
If the banks get a single dollar from the taxpayers, then the taxpayers should own the entire bank-all stock, preferred stock etc. Its outrageous for the government to gift our money to the banks, which the government owning equity in the bank, or the entire equity of the bank.
yeah they make you look one way while theire stealing more from you in the other... its time to take the power back. I endorse NO ONE. lets elect some homeless guy singing in penn station. Or a farmer, or a small buisnessman. unfortunately so much dammage is done that I doubt we'll get out country back without a rebellion of sorts.
Why, to keep values artificially bloated? Don't you get that low rates caused an inflationary bloom and we are currently suffering the fallout? I vote for 10% rates and let values adjust on their own.
Wall Street buys assets from itself using leverage supplied by the government (i.e. taxpayers) with taxpayers carrying 93% of potential losses in order to prevent bondholders (PIMCO, BlackRock) and Wall Street banks from losing money on their stupid bets.
Solution:
Let the mismanaged banks suffer for their mistakes and stop socializing losses. Introduce discipline into the system.
Then what little true Assets would have been bought up and then Bingo WERE back in business.
This is a never ending BLACK HOLE money is being shifted off shore etc. Now we will have massive inflation within a year or 2 and possible Hyperinflation.
Sir, please get a grip. the geithner plan is designed to bail out and recapitalize banks at taxpayer expense without the taxpayer realizing it. The Obama adminstration is socializing losses, be they at commercial banks, investment banks, auto Cos, homeowners, insurance Cos, etc. You, sir, are the patsy at the poker game, assuming you have any savings or investments. that savings and investment will be taken from you through the magic of severe inflation and capital gains taxes.
News flash they already are. The Federal Reserve is owned by private billionaires, what's worse is they get to control who gets to spend all money for its initial value. Then BAM inflation once it hits the market. No bank has been publicly traded since 1913.
2) When the government grabs a private co. they don't give the shares to the american people. They sell the parts of that co. to private investors (George Soros) who pay pennies on the dollar for the assets and then contribute to the re-election of their servants.
1) The government forced good banks to buy bad banks. (see wall St. Journal Feb. sixth) For example BAC was forced to buy MER, WFC bought WB, JPM bought parts of WAMU. Wiping out the share holders of the good banks after those banks were forced to adsorb the toxic assets would guarantee that nobody would ever again trust the U.S. government. It would drive interest rates to the moon.
The Federal Reserver printing more money(investing in toxic assets) is also a tax on the people. An increase in deficit spending hurts the value of the dollar. An increase in the money supply will cause inflation which is a tax on the people. You are leaving that out of your analysis.
Obama is the saint, our salvation. I watched a video on YT of a guy painting a halo around him. You only need faith, brother. Miracles are in his pocket. 53% of the voting public joined you on your choice, so it must be true that he will lead us out of darkness to the promised land. George Washington will smile on every dollar bill.
Typically, I'd suggest you support Ron Paul in the next election, but these days I'm really starting to doubt there will be a next election.
Nobel Prize winning economist Joseph Stiglitz summed up Geithner's "public-private" fiasco like this: "Quite frankly, this amounts to robbery of the American people. I don't think it's going to work because I think there'll be a lot of anger about putting the losses so much on the shoulder of the American taxpayer."
FUCK GEITHNER. OBAMA< get ready to be a one-term president, BUDDY. AND I VOTED FOR HIM!!!! BOA and CITI are already buying up these assets behind the scenes!!! FUCK GEITHNER.
yes they would, because it is the high mucks of the bailed - out banks who sit on the board of the Fed! wouldn't you bail YOUR self out if you could? the fox is in charge of the henhouse, that's all that's going on here. and we allowed it to happen the last few decades.
The Fed doesn't need to make any money back. It cannot be audited and is allowed to print as much money as it wants. If they say they have $10 centillion dollars, no one can prove them wrong. They control all the western currencies.
Only problem I have with your analysis is that concealing the source of the money would be money laundering which would be illegal. Doesn't mean a bank wouldn't do it... but ipso facto they would be breaking the law.
yes, this is absolutely money laundering, which is only illegal if you're not a big 5 bank, whose leaders sit on the board of the Fed Reserve so no surprises here.
The money the banks use to become the PI (private investor) buying up their own toxic paper is all loaned to them by the gov. (taxpayer). The loans are non-recourse, meaning they don't have to pay them back. This doesn't lower the banks exposure down to 7%. It lowers it down to almost Zero1
Khan has most of the scenario correct - but not all of it. It's a GRAND shell game, A PONZI bigger many times in magnatude than the Madoff ripoff. Khan show's how banks can magically decrease there exposure to 7%. But since they are using non-recourse loans, loan's they don't have to pay back, they'll lose at most 30 to 50 cents on each $100. That's less than 1%! This will make Obama a rich man.
Obama is backing the North American Union just like Bush. It will cost the US many more jobs and threaten our sovereignty. Watch my featured video on it.
Monetization or taxes... either way, doesn't matter. The bottom line is your hard-earned labor goes to bail out the banks.
Just study the history of the Federal Reserve and none of this is shocking. They exist to take money from the people to support their own member banks. Wake up and protect yourself. Own something they cannot debase. (Hint: NOT US dollars).
So what happens if this scenario was to occur? I understand Fed will take a loss on the asset, but does it mean the fed will go insolvent? or will taxpayer take the burden? or will it be monetized? or will the loss just vanish? i do not understand.
dollar becomes trash; the country becomes insolvent as treasury bills become worthless; civil unrest; and bank execs take the money and flee out of the country.
How about if you knew this was coming ala Paulson and you went out and bought up M Lynch ect. to get these toxics on your books. Oh and it would make since for you as a bank hold on to your bailout money until the Gman rolled out this plan so you could get a 10 times factor on your cash. All the while the tax payers gets the shaft. The Fed confiscates the assets then manipulates the money supply to drive up the asset price once it is in their possession. Confiscation of wealth, Zeigiest!
....As Englands head Banker J. Stamp stated years ago EVERYTHING about Banking is based in FRAUD and produces SLAVERY for the average person
If you type in "The Money Masters" and watch that video you will SEE CLEARLY that this nation was TAKENOVER in 100 years ago by these BANKSTERS
Today with their ability to PRINT "money" at will out of thin air they OWN nearly ALL of this nations "free press" and with the 1-2 punch of MEDIA CONTROL/BIG MONEY they RULE THIS NATIONS Guberment
That won't work, the smaller banks don't have the capital available to buy your debt from the large banks. The currency itself has to be recalled, and a new currency issued, one that's issuence is controlled by a represetnantive government and is backed by material wealth such as silver (something the US has a lot of, not gold which Europe has a lot of).
We haven't had free market capitalism since the elites began following the Prussian statist industry, banking and education models.
The first thin ended wedge of power over our lives, after the CW made secession illegal, was the ICC for elites to self regulate competition away, the the FED and 16th Amedment to pay shylock interest for using was used to be our own REAL money.
All the biggest banks are the private shareholders of the world's central banks.
The FED is bailing out its own shareholders, which is exactly what Jefferson & Jackson knew full well was KGIII's problem of shylock indebtedness that caused the freakin revolution - which we are too stupid and scared to do again for our own freedoms & money back?
Is there anything in this auction plan that prohibits the sellers to finance the buyers? After all, the sellers are big banks and that's what they are designed to do: finance profitable enterprise.
Geithner is a crook. Obama is a wannabe dictator. End of story. They are going to take as much of your money and personal liberties as people will let them.
Geithner plan is just a workaround to avoid all the bankers involved going broke and ending behind bars. They are simply making legal the biggest theft in US. history.
excellent video. thank you. the banks, thru government acquiescence and treasury and fed obfuscation are basically transferring massive losses to the taxpayer! Wow. Naked ripoff and scam! Greatest theft in human history! Can we survive this? From what i've read the total world banking exposure to these toxic derivatives is 1 to1.5 quadrillion! Scary...
Trouble is investors don't know what the toxic assets are worth. But the fact is that they are assets first and toxic second i.e toxic is only a definition of worth i.e no one knows. But because most of these assets are mortgage securities over time the toxic will become gold dust, depending on how long it takes for housing to recover.
Terrific video. The only way out of this mess is to abolish the Fed, Fire Geither and Bernankie and let the banks die and be take over. A government that does not manage it's money has no power and what we are seeing is a transfer of even more power to the banks and the Fed. We are so screwed and Obama's letting it happen. We had no choice for president and the reason why starts with the Fed, the manager of our government's money.
"travesty of capitalism" ... like "travesty of justice" ... a miscarriage of capitlism, where the investors and bankers lose their stake ... they took the profits, now they take the loss.
Instead this is a miscarriage, the (Democrat) bankers get their losses covered by the taxpayer, thanks to friendly Democrat politicians. Then they carry on with their bad banking, while "good bankers" that took less risk can't compete, because they aren't subsidized by government.
...because Republicans are not involved in banks, just Democrats.
Seriously. If you do not stop looking at this as a partisan issue - you will only see half of what is occurring. This is not good politicians versus bad politicians. This is them (all of them) versus you.
Your best outcome stopped being cared for when we ramped into a plutocracy. I'm not trying to be a dick or sling accusations - I'd just like for you to hate both sides equally.
What does the author mean at 11:36 by "the greatest travesty of capitalism"?
I see no capitalism in the plan; It smacks of fascism, served with a facade of capitalism - only clever enough to fool the booboisie. It reminds me of the movie "Blazing Saddles", where the townspeople created obvious replicas of themselves. It was hilarious because it was so obvious.
Perhaps the author meant that it is unfortunate that the free-market (/capitalism) will once again be the whipping boy for socialism?
The ministry of information has informed the proletariat that we are now to consider these "toxic assets" as LEGACY ASSETS. In addition, inflationary measures are now to be thought of as QUANTITATIVE EASINGS...
"Private Investors may not participate in any PPIF that purchases assets from sellers that are affiliates of such investors or that represent 10% or more of the aggregate private capital in the PPIF."
It's not so much those aligned with bank *equity* you have to worry about. It's the debt holders. Nationalization means they will take a big hair cut. Geithner plan give them a wonderful opportunity to bail themselves out.
So C buys BoA's "legacy assets" in their SIV, and BoA buys C's in theirs. Likely they'll use TARP $ to do so. that's why those two have been scooping up CDO's in the secondary market (also likely with TARP $)
I should've read the comments before commenting about roundabout TARP. Looks like someone already mentioned that. It's a wonder such a plan would be thought up by the so-called brains of money and finance in Washington.
The plan never was to restore the economy, it was to inact the final push to reduce the value of your savings and assets to almost nothing.
Now all the mid-level investors go bankrupt, and the sharks at the top eat what's left. Thus gaining more control (almost absolute) over the financial institutions of the world.
The only way to solve this, is to abolish the Fed and other central banks. Thus giving control of the creation of capital to representatives of the population.
Ever since the Revolution in this country, the banks have been trying to centralize the creation of currency. Great men fought it for a long time, but ultimatley failed with the creation of the Federal Reserve, and the practice of Fractional Reserve Banking.
Essentially, the Fed has increased inflation through the creation of capital as debt since it's inception. Now the baloon is about to burst, and the bail out money bieng created is going to burst it.
Also, intrest is bieng charged on every cent, causing even more inflation. Intrest used to be called usery, and at one point in history it was na executable offense (just after the Dark Ages).
So, do you have an alternative, creative plan for fixing the mess? There are many. I say, let the banks and ins. companies completely bust. That wouldn't hurt the capital of real people and would do away with the entities that are trying to foreclose on the real people that have paid in good faith for their families, communities and the greater good.
The situation is NOT uncommon (though not necessarily in the US). There are plenty of example to draw from.
check this out... to tie into the reply of now time to buy bank shares, i mean look, 3.00 or less for citi? imagine a foreign country buying so many shares like china or other and ends up owning bofa? wow. wtf. they hold 2 tril in debt reserves, if it was me, i'd say, wow, you have a failing bank, let me just cash that in and buy up your bofa or other. wow.
thanks to all you young voters and faggots for voting for obama and making the possible future, possible........a freakin mess!!!
Just say, "NO!" Americans have to stop being chumps. Send this link to your congressman and senator. BTW, there are years of graft leading up to this crazy situation. Most of these guys should be busy shopping for a good defense lawyer not still cooking up another scam contrived to plunge the country into the worst imaginable financial collapse. The big banks should have just filed bankruptcy back in October 08, as in any real business their position would do.
I think the assumption that the government wants to "solve" this current crisis is a flawed assumption. In fact, there is significant evidence, as uncovered by the Reece Commission and others, that this current economic crisis was deliberately manufactured.
"It was a carefully contrived occurrence, International bankers sought to bring about a condition of despair so that they might emerge the rulers of us all"
Louis McFadden, Congressman who tried to impeach the FED Board.
that is some scary s h i t . maybe it has something to do with the antichrist and a new one world currency that he will control and if the mark of the beast is not taken, all those still left after the rapture by Jesus, will have no chance at all or be killed.
i would like a link to this eveidence or be shown where i can read it, and who are these international bankers you speak of?
Excellent post, but I would actually go a little further than that. Fiat money is a part of usury, interest and inflation on the money we use is also a part of usury, as well as interest on loans etc.
Usury is a much more inclusive term in understanding the current crisis. It is a crime against humanity, it is a form of economic bondage. If left unchecked usury will and has chained nations and whole peoples, who cannot even through hard work endeavor to get out of the debts they are in.
Wow. I just had that light bulb moment....Thanks Sal. When the people find out that they were robbed by these ruthless financial oligarchs, I wonder how they will react?
Great.. Strange remarks on this video once again.
lexiskramer229a 1 day ago
This video went viral on Guatemala
rtfuentes819a 1 month ago
There is something really wrong about this whole world economic system, I can understand why you left the hedge fund world.
Alvaroeduardo 4 months ago
Excellent explanation.
lnfiniteKnowledge 1 year ago
There is Trying to Asian brides "busizz4me.info"
SheliaVanessae 1 year ago
END THE FED!
pdeg001 1 year ago
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Great Stuff, thanks for doing this! You should have over 100 million hits on your videos...one for every taxpayer in the US!
scooteravn 1 year ago
Great Stuff, thanks for doing this! You should have over 100 million hits on your videos...one for every taxpayer in the US!
scooteravn 1 year ago
Why didn´t they do it like they did with GM and Chrysler? Or perhaps, like the small banks like the FDIC has been doing?
alonelychild 1 year ago
If I am not very much mistaken, for each dollar worth of assets, banks were leveraged in 30
alonelychild 1 year ago
If you get the chance, add this to iTunes
SuperAndrei82 1 year ago
Most of us are smart enough to know we got fucked, and that we are powerless to do anything about it short of armed revolt.
needparalegal 1 year ago
end the fed, end crony capitalism. restore laissez faire and don't give bankers (or gov't officials) a chance to screw over the public. the answer is right in this guy's face...
pwnttothemax 1 year ago
I agree with everything but why would you say it's a "travesty of capitalism" when in reality it is a travesty of government involvement in the capitalist system?
olipop84 1 year ago 3
THIS IS A DEBT SYNDICATE
ARREST ALL BANKERS
centurion180ad 1 year ago
Did this version of Geihtners plan end up passing?
EvanWells1 2 years ago
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As long as we get our money back, its okay. They did the same thing in the 80's.. The government has given a majority of their stimulus on new home buyers to help keep the value up, so assets wont end up being 30$ as predicted.
Seaneiboy 2 years ago
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Seaneiboy 2 years ago
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michael38921 2 years ago
99% of america was against the bailouts... tells you who is really running things.
soilworkr 2 years ago 12
@soilworkr You know the implications of not bailing out these financial institutions?
GunsNRosesbitches 1 year ago
Capitalistic TRAVESTY!
kotpet 2 years ago
Brilliant!!!! - put it on glenn beck now!!,,, the public needs to see it!
johnnyfenger 2 years ago 3
Cheque (or check) fraud refers to a category of criminal acts that involve making the unlawful use of cheques in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership
CP91311 2 years ago
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Geithner is a Traitor and he admits it here> /watch?v=e_I4CYhk6P4 After watching it you tell me if he admits it. Why else would he say "Your Government" when referring to the Government of the United States of America?
HR1207auditthefed 2 years ago
Great video. Congress actually did something about this back in January.
Check out Section 402 of the Helping Families Save Their Homes Act of 2009. That provision was added to ensure there is full transparency and no conflicts of interest in these PPIP transactions.
Though it might keep some banks honest, it won't prevent many of them from figuring out a way to game the PPIP.
jacktripper3 2 years ago
Sal, Good job.
Are you a teacher, analyst (I mean the honest one), or just a good citizen? Whoever you are, you have a real good grasp and deep insight on the things you are talking.
While the gulliable citizens are caught in the ideological divide between Rep. and Dem, the Wall St. will continue to hoodwink everyone and over compensate their incompetent executives and employees.
So, keep up your good work!
mallikai2009 2 years ago 6
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Nice work. keep it up. mean time come for social media marketing for esteembpo**com FHJ
libradaritadjv 2 years ago
Nice try. Keep it up check out esteembpo + com for social media marketing. rgrtyjty
bethaprivttee 2 years ago
Support Ron Pauls Bill to audit the federal reserve bank HR 1207. Goto campaign for liberty website, sign the petition that notifys your representatives in Congress. Also support the 911 truth movement, your life and freedoms depend on it.
sierrawlfc 2 years ago
The whole libertarian crusade against The Fed is overheated, misguided claptrap!...the 911 truth movement is histrionic, deluded claptrap!....so no thanks!
BigDeanoSyd 2 years ago
Hey at least he makes it colorful. ^_^
Dt0x75 2 years ago
It is really crazy why some banks hasn't been nationalised. The US government in my view should take control of the shares and kick out most of the managment of these troubled banks. Make a controlled bankrupcy or create a bank fond to clean up the mess, and after some years sell the banks gradually back to privat investors. They governments of Norway and Sweden did this in the early nineties.
Who would know that banking could be this entertaining.
Love from Oslo
Kikkan110 2 years ago
Bank nationalization would require a much greater philisophical debate
BigPurple121 2 years ago
So much cheaper to just let the banks fail. But, since they own the country, that is not gonna happen.
Artificially low interest rates (caused by the Fed), has so many consequences.
imnos482 2 years ago
I was all good until the comment @ 11.38 "the biggest travesty of capitalism".
You've spent the last 11 minutes demonstrating nothing but state intervention, central planning, and psuedo-socialism.
All other contributing factors aside, it seems to me you're making a great case for why central economic planning is a failure, not capitalism.
Your rational is precisely what got us here!
cambo61 2 years ago
Exactly, it is exactly what got us in trouble, not eveil capitalism but STATE INTERVENTION AND CREATING FRADULENT LAWS THAT BOTH MAKE THE SYSTEM UNSTABLE. The problem is that the law that has been recently created is fraudulent, if it protected everybody and secured JUSTICE, here would be no problem. Therefore, the law should be changed to assure that everybody is treated equally in terms of economic freedom.
WayAboveYou700 2 years ago 2
You're assuming that a transfer of power occured with the elections. It didn't. The era of deregulation set up this entire scenario,Obama was simply sent in to complete the plan with a Keynsian alibi. It's about time people woke up to the fact that Republican versus Democrat is a facade. Laisser-faire capitalism is not the cure. Well-regulated economies have fared better than the Randists in this crisis. The idea that regulation is a death-knell for capitalism is false, it's a necessity.
flyhead2 2 years ago
I'll agree that regulation is a must, however I believe that the regulation should be in the form of market risk.
Demon4403 2 years ago
The concept of market risk ensuring healthy practice is a utopean pipe-dream. The financial entities have usurped their regulators (government) and have a myriad of opaque schemes that are blatantly dishonest. Brokers manipulate market risk for benefit of some and the destruction of others. Randists are naive at best., although the old girl did make many valid observations on the matter of freedom. That aside, she was no avatar to be followed by mankind, her outlook was abjectly cynical.
flyhead2 2 years ago
The reason why the government has pledged your TAX dollars as collatoral has to do with the fact that they themselves and you local and state governments are bought into these schemes. They say they do not have money to pay for your state and local budget but they are actually holding tons of money in these broken investments on their comprehensive financial reports, but since they made these bad investments they are now just raising taxes and borrowing against your future to reinflate the crap.
econogate 2 years ago 5
tonnes*
beforever 2 years ago
vis a vis NWO ?
Gizziiusa 2 years ago
As I see this, $7 of the $63 loss in the last scenario gets tagged to the taxpayer through the Treasury Department, and the Fed is on the hook for the remaining $56. Since the Fed is owned by its member banks, doesn't the $56 writeoff then just circle back to Citibank and the rest? If not, I still don't see how taxpayers directly absorb the $56, though indirectly we might take the hit through inflation if the Fed creates money to pay it off.
Tigerpaws9097826 2 years ago
I believe that The Fed is lending on behalf of the congress. That is why it has to go through them before it happens. So yes The Fed is a private bank that controls the power of making US dollars but they lend this money to the congress when the congress votes to spend it.
pitbrand 2 years ago
TP, for providing Federal Reserve notes as a part of the non-recourse loans, it receives US treasury bonds that are now a liability of the US taxpayer. The group of private banks "issue" this new money out of thin air, get paid recurring interest of 3-4% forever, and the US taxpayer is liable for the interest (and eventually principle repayment)
Hithard177 2 years ago
@Tigerpaws9097826 ur absolutly right.fed is the tool which transfer the wealth from poor people to rich people behind them.the whole system is a curse to >90 %of people.no wonder islam prohibit usury (read interest)
drzakir123 4 months ago
Hey, this is cleanup from last admin.
Let's focus on how we got here.
That's right, the people have to cleanup after bush - and it will be costly.
Good you figured this out.
paindeer 2 years ago
This is banks giving other banks money and is not to do with the former administration other than they started the stimulus plans for money to be given to banks. This money is not going to anything that pertains to war and previous debts created by our former administration. So many people are being overly offended when we continue to criticize the wrong doings of our government. People have been protesting things they find wrong for a long time.
pitbrand 2 years ago
You leave out all other profit mechanisms at banks.
Although your voice, it's like that guy on the train movie with Steven Segal - the one that has Grasier ONE electromag pulse satellite - gone mad- heh.
Thanks for sharing insights though.
Reaches towards the truth.
paindeer 2 years ago
this video really opens your eyes to the loopholes that companies exploit on a regualr basis. It makes it hard to believe that there is any way to fix this problem if the people that got us into this mess can continue to do what ever they want.
inthemoney761 2 years ago
The banks and bank shareholders need to be wiped out completely. And the bank executives need to be fired.
dodanimal 2 years ago
Gee, I wish I could do that magic trick with some bad stock trades that are underwater.
If the banks get a single dollar from the taxpayers, then the taxpayers should own the entire bank-all stock, preferred stock etc. Its outrageous for the government to gift our money to the banks, which the government owning equity in the bank, or the entire equity of the bank.
Banksters can go to hell.
dodanimal 2 years ago
And the government can too! they are the ones that a) enable these bastards and b) take corrupt money from them - which they helped steal from US.
silverhawks 2 years ago
yeah they make you look one way while theire stealing more from you in the other... its time to take the power back. I endorse NO ONE. lets elect some homeless guy singing in penn station. Or a farmer, or a small buisnessman. unfortunately so much dammage is done that I doubt we'll get out country back without a rebellion of sorts.
Ishouldbeontv 2 years ago
our founding fathers are rolling over in thier graves... even liberals were less left wing back then
Ishouldbeontv 2 years ago
We need 30 year mortgages to be 2.5 % or less to preserve property values. This would be a better investment and make more sense.
GA7777777 2 years ago
Why, to keep values artificially bloated? Don't you get that low rates caused an inflationary bloom and we are currently suffering the fallout? I vote for 10% rates and let values adjust on their own.
hunterplescia 2 years ago
looks good for m CITI bank shares!!!!!!!!!
RyanMinaker 2 years ago
... Oh my. Looks like we're setting up for an even bigger financial bubble down the line.
andyb1979z 2 years ago 2
@Azbx23: you said "Let the mismanaged banks suffer for their mistakes and stop socializing losses. Introduce discipline into the system."
What do you want to do? Let another bank go bust like Lehmans? How much of the American population would you like to see out of work?
dilaudid 2 years ago
Seems a bit like someone paying off their credit card debt with another credit card ?
zappyhod 2 years ago
but they're only paying the transfer fee and sticking the principle balance to the taxpayer
soulrack 2 years ago 2
Geither's Plan in 1 sentence:
Wall Street buys assets from itself using leverage supplied by the government (i.e. taxpayers) with taxpayers carrying 93% of potential losses in order to prevent bondholders (PIMCO, BlackRock) and Wall Street banks from losing money on their stupid bets.
Solution:
Let the mismanaged banks suffer for their mistakes and stop socializing losses. Introduce discipline into the system.
Azbx23 2 years ago 3
No way Jose ! That would totally interrupt the consolidation of wealth to the NWO. Dont even think about it !!!
Gizziiusa 2 years ago
Comment removed
Azbx23 2 years ago
Tired of this shit yet? Then do something more productive than raging about it.
Call your rep and urge them to co-sponsor H.R. 1207 Federal Reserve Transparency Act
Currently 55 co-sponsors. Bi-partisan.
We have the right to know.
wulfgang66 2 years ago 2
Brilliantly handled video. Thank you for your insight.
WaterMedia 2 years ago 2
I have a better plan....
They should HAVE FAILED.
Then what little true Assets would have been bought up and then Bingo WERE back in business.
This is a never ending BLACK HOLE money is being shifted off shore etc. Now we will have massive inflation within a year or 2 and possible Hyperinflation.
bossman068410 2 years ago 3
This comment has received too many negative votes show
Geithner's plan is not perfect, but if our goal is to keep the middle class in the game, it is the best we are going to get.
Otherwise, the large publicly traded banks will fall into the hands of the private billionaires
KGarma 2 years ago
Sir, please get a grip. the geithner plan is designed to bail out and recapitalize banks at taxpayer expense without the taxpayer realizing it. The Obama adminstration is socializing losses, be they at commercial banks, investment banks, auto Cos, homeowners, insurance Cos, etc. You, sir, are the patsy at the poker game, assuming you have any savings or investments. that savings and investment will be taken from you through the magic of severe inflation and capital gains taxes.
peapod61 2 years ago
News flash they already are. The Federal Reserve is owned by private billionaires, what's worse is they get to control who gets to spend all money for its initial value. Then BAM inflation once it hits the market. No bank has been publicly traded since 1913.
roninkross 2 years ago 3
2) When the government grabs a private co. they don't give the shares to the american people. They sell the parts of that co. to private investors (George Soros) who pay pennies on the dollar for the assets and then contribute to the re-election of their servants.
KGarma 2 years ago
1) The government forced good banks to buy bad banks. (see wall St. Journal Feb. sixth) For example BAC was forced to buy MER, WFC bought WB, JPM bought parts of WAMU. Wiping out the share holders of the good banks after those banks were forced to adsorb the toxic assets would guarantee that nobody would ever again trust the U.S. government. It would drive interest rates to the moon.
KGarma 2 years ago
The Federal Reserver printing more money(investing in toxic assets) is also a tax on the people. An increase in deficit spending hurts the value of the dollar. An increase in the money supply will cause inflation which is a tax on the people. You are leaving that out of your analysis.
cclodfe 2 years ago 2
Shakespeare was wrong. It should be "kill all the bankers!"
;^D
Largo64 2 years ago
Thanks for posting...... just had to add it to my blog too.
Tradewithmojo 2 years ago
Thanks for posting, it's a great video and I hope people pass it along. People need to understand how this works.
cameling88 2 years ago 2
Money laundering is legal if you own the laundrymat. Self-service all the way.
tryptala 2 years ago 5
Very wordy to say something is a crime. Just say that.
randallscott35 2 years ago 2
Go ahead, white boy... CONVINCE ME...
DancingSpiderman 2 years ago
money laundering by the big 5 banks.
elfspriit 2 years ago 3
Watch this video! Take the 12 minutes and watch it.
chasingecho 2 years ago
Obama is the saint, our salvation. I watched a video on YT of a guy painting a halo around him. You only need faith, brother. Miracles are in his pocket. 53% of the voting public joined you on your choice, so it must be true that he will lead us out of darkness to the promised land. George Washington will smile on every dollar bill.
Typically, I'd suggest you support Ron Paul in the next election, but these days I'm really starting to doubt there will be a next election.
tryptala 2 years ago
Nobel Prize winning economist Joseph Stiglitz summed up Geithner's "public-private" fiasco like this: "Quite frankly, this amounts to robbery of the American people. I don't think it's going to work because I think there'll be a lot of anger about putting the losses so much on the shoulder of the American taxpayer."
FUCK GEITHNER. OBAMA< get ready to be a one-term president, BUDDY. AND I VOTED FOR HIM!!!! BOA and CITI are already buying up these assets behind the scenes!!! FUCK GEITHNER.
TheRealCritique 2 years ago 2
Please Help me understand?
How does the Fed get its money back if it fails on this?
The fed wouldnt bet unless they make its money back!
The Federal Reserve is a Private Bank!
VICTORVENDETTA1 2 years ago
Comment removed
Hantral337 2 years ago
>Please Help me understand?
>How does the Fed get its money back if it fails on this?
PRINT
Hantral337 2 years ago 2
yes they would, because it is the high mucks of the bailed - out banks who sit on the board of the Fed! wouldn't you bail YOUR self out if you could? the fox is in charge of the henhouse, that's all that's going on here. and we allowed it to happen the last few decades.
elfspriit 2 years ago
You mean, the last 96 years.
tryptala 2 years ago
The Fed doesn't need to make any money back. It cannot be audited and is allowed to print as much money as it wants. If they say they have $10 centillion dollars, no one can prove them wrong. They control all the western currencies.
Hardulf 2 years ago 2
Only problem I have with your analysis is that concealing the source of the money would be money laundering which would be illegal. Doesn't mean a bank wouldn't do it... but ipso facto they would be breaking the law.
thomasw78 2 years ago
yes, this is absolutely money laundering, which is only illegal if you're not a big 5 bank, whose leaders sit on the board of the Fed Reserve so no surprises here.
elfspriit 2 years ago 2
Interesting to see who are the actual Owners of the Fed. Hint: Goldman-Sachs is one of them..
shotsy5 2 years ago
There is a reason why the founding fathers put the second amendment in the constitution... for shit like this
BLaF715 2 years ago 4
yup
alienmode 2 years ago
eat shit
coverout 2 years ago
fried chicken
coverout 2 years ago
blame it on the mexicans
coverout 2 years ago
its china's
coverout 2 years ago
The money the banks use to become the PI (private investor) buying up their own toxic paper is all loaned to them by the gov. (taxpayer). The loans are non-recourse, meaning they don't have to pay them back. This doesn't lower the banks exposure down to 7%. It lowers it down to almost Zero1
jgklly 2 years ago
Geithner doesn't even pay taxes, but he wants the gov't to crack down on you if you don't. Listen to infowars . com not these gov't actors.
TruthLeak 2 years ago
Khan has most of the scenario correct - but not all of it. It's a GRAND shell game, A PONZI bigger many times in magnatude than the Madoff ripoff. Khan show's how banks can magically decrease there exposure to 7%. But since they are using non-recourse loans, loan's they don't have to pay back, they'll lose at most 30 to 50 cents on each $100. That's less than 1%! This will make Obama a rich man.
jgklly 2 years ago
Obama is backing the North American Union just like Bush. It will cost the US many more jobs and threaten our sovereignty. Watch my featured video on it.
TruthLeak 2 years ago
Monetization or taxes... either way, doesn't matter. The bottom line is your hard-earned labor goes to bail out the banks.
Just study the history of the Federal Reserve and none of this is shocking. They exist to take money from the people to support their own member banks. Wake up and protect yourself. Own something they cannot debase. (Hint: NOT US dollars).
HysteriaDLX 2 years ago 2
Comment removed
shotsy5 2 years ago
So what happens if this scenario was to occur? I understand Fed will take a loss on the asset, but does it mean the fed will go insolvent? or will taxpayer take the burden? or will it be monetized? or will the loss just vanish? i do not understand.
stabilo774455 2 years ago
dollar becomes trash; the country becomes insolvent as treasury bills become worthless; civil unrest; and bank execs take the money and flee out of the country.
powermung 2 years ago 2
you forgot to carry the 1
246trinitrotoluene 2 years ago
they just invented the financial Perpeduum Mobile.
tritop 2 years ago
If it can go wrong. It will go wrong. Your nightmare scenerio at the end looks like the logical outcome to
Geithner's scheme, and it begs the question, is he doing this on purpose to save his Wall Street friends.
RvNYC 2 years ago
Very well explained. PEOPLE wake up, we are getting a royal screwing!
Mrice0406tube 2 years ago 2
Join your local NONPROFIT credit union!
b0b415 2 years ago
I have been writing to my Representatives in Congress and the Senate about this for days now.
Tradewithmojo 2 years ago
How about if you knew this was coming ala Paulson and you went out and bought up M Lynch ect. to get these toxics on your books. Oh and it would make since for you as a bank hold on to your bailout money until the Gman rolled out this plan so you could get a 10 times factor on your cash. All the while the tax payers gets the shaft. The Fed confiscates the assets then manipulates the money supply to drive up the asset price once it is in their possession. Confiscation of wealth, Zeigiest!
Vapor40 2 years ago
Sickening. I'll be writing to my Representatives in Congress and the Senate about this.
GenericMind5885 2 years ago
Thanks Sal. I sent this video to Cong. Wexler. I don't know if this will change anything but at least hopefully he'll at the very least watch it.
pongman 2 years ago
damn dude u are one smart mofo.
Rspringscabin 2 years ago
Great vid. I will definitely be contacting my representatives in government about this.
luncalsari 2 years ago 2
Send this to everyone you know...it needs to go viral!
5150spin 2 years ago 3
....As Englands head Banker J. Stamp stated years ago EVERYTHING about Banking is based in FRAUD and produces SLAVERY for the average person
If you type in "The Money Masters" and watch that video you will SEE CLEARLY that this nation was TAKENOVER in 100 years ago by these BANKSTERS
Today with their ability to PRINT "money" at will out of thin air they OWN nearly ALL of this nations "free press" and with the 1-2 punch of MEDIA CONTROL/BIG MONEY they RULE THIS NATIONS Guberment
Ooloosoon 2 years ago
..WHAT CAN YOU DO TO SAVE AMERICA FROM THE BANKSTERS?
Well some very simple, easy things actually.
1.) TOTALLY BOYCOTT ALL BIG BANKS
....Why not move your account over to your local Credit Union thats actually owned by YOU and your fellow citizens.
2.) TOSS YOUR BIG BANK CREDIT/DEBIT CARD IN THE TRASH CAN
...once again why not simpy move your credit/debit card account over to your LOCAL OWNED Credit Union?
Cut off the BANKSTERS
Toss that Chase Credit Card in the trash folks!
Ooloosoon 2 years ago
That won't work, the smaller banks don't have the capital available to buy your debt from the large banks. The currency itself has to be recalled, and a new currency issued, one that's issuence is controlled by a represetnantive government and is backed by material wealth such as silver (something the US has a lot of, not gold which Europe has a lot of).
dead7s 2 years ago
Nice scam they got going there. A travesty indeed.
purenirvana 2 years ago 3
We haven't had free market capitalism since the elites began following the Prussian statist industry, banking and education models.
The first thin ended wedge of power over our lives, after the CW made secession illegal, was the ICC for elites to self regulate competition away, the the FED and 16th Amedment to pay shylock interest for using was used to be our own REAL money.
marxbitesall 2 years ago
All the biggest banks are the private shareholders of the world's central banks.
The FED is bailing out its own shareholders, which is exactly what Jefferson & Jackson knew full well was KGIII's problem of shylock indebtedness that caused the freakin revolution - which we are too stupid and scared to do again for our own freedoms & money back?
marxbitesall 2 years ago 3
right marx ... we've become a bunch of pussies and the government knows this. It's pathetic and sad.
rollerbenz 2 years ago
Get this video out to as many people as you can to expose these frauds
pdpwaterboy 2 years ago 3
Thanks for the great explanations Sal. Where can we get more information about your solution and read your paper about the new bank plan?
KastenEvans 2 years ago
Thanks to Lew Rockwell com for linking to this vid.
stratvic 2 years ago 2
Is there anything in this auction plan that prohibits the sellers to finance the buyers? After all, the sellers are big banks and that's what they are designed to do: finance profitable enterprise.
bvankuyk 2 years ago
What if the bank bid a price for $1,000,000 for every $100 toxic asset?
peiliu75 2 years ago
Geithner is a crook. Obama is a wannabe dictator. End of story. They are going to take as much of your money and personal liberties as people will let them.
justworkforme 2 years ago 2
Great video Sal.
pitty031 2 years ago
Geithner plan is just a workaround to avoid all the bankers involved going broke and ending behind bars. They are simply making legal the biggest theft in US. history.
ficote72 2 years ago 3
excellent video. thank you. the banks, thru government acquiescence and treasury and fed obfuscation are basically transferring massive losses to the taxpayer! Wow. Naked ripoff and scam! Greatest theft in human history! Can we survive this? From what i've read the total world banking exposure to these toxic derivatives is 1 to1.5 quadrillion! Scary...
debtfreecurrency 2 years ago 2
Trouble is investors don't know what the toxic assets are worth. But the fact is that they are assets first and toxic second i.e toxic is only a definition of worth i.e no one knows. But because most of these assets are mortgage securities over time the toxic will become gold dust, depending on how long it takes for housing to recover.
bgrawhot 2 years ago
Terrific video. The only way out of this mess is to abolish the Fed, Fire Geither and Bernankie and let the banks die and be take over. A government that does not manage it's money has no power and what we are seeing is a transfer of even more power to the banks and the Fed. We are so screwed and Obama's letting it happen. We had no choice for president and the reason why starts with the Fed, the manager of our government's money.
Any questions?
remoran 2 years ago 6
The usa has devolved into a fascist oligarchy. Things will continue in this vein until the people hit the streets.
vaughntrapp 2 years ago 6
yes. Do you think "auditing the Federal Reserve"
HR1207 currently, will be of any useful effect?
shotsy5 2 years ago
It's a start. Right now the Fed answers to NO ONE.
dead7s 2 years ago
Many thanks for your comments.
shotsy5 2 years ago
"travesty of capitalism" ... like "travesty of justice" ... a miscarriage of capitlism, where the investors and bankers lose their stake ... they took the profits, now they take the loss.
Instead this is a miscarriage, the (Democrat) bankers get their losses covered by the taxpayer, thanks to friendly Democrat politicians. Then they carry on with their bad banking, while "good bankers" that took less risk can't compete, because they aren't subsidized by government.
bherms3 2 years ago
...because Republicans are not involved in banks, just Democrats.
Seriously. If you do not stop looking at this as a partisan issue - you will only see half of what is occurring. This is not good politicians versus bad politicians. This is them (all of them) versus you.
Your best outcome stopped being cared for when we ramped into a plutocracy. I'm not trying to be a dick or sling accusations - I'd just like for you to hate both sides equally.
:)
aphexmandelbrot 2 years ago
this nEEds to go national.
b0b415 2 years ago 3
What does the author mean at 11:36 by "the greatest travesty of capitalism"?
I see no capitalism in the plan; It smacks of fascism, served with a facade of capitalism - only clever enough to fool the booboisie. It reminds me of the movie "Blazing Saddles", where the townspeople created obvious replicas of themselves. It was hilarious because it was so obvious.
Perhaps the author meant that it is unfortunate that the free-market (/capitalism) will once again be the whipping boy for socialism?
malditonuke 2 years ago 3
"the *biggest* travesty of capitalism"
malditonuke 2 years ago 2
We need a 21st century Robin Hood to steal the money back from the corrupt rich and return it to the worthwhile poor.
professional80 2 years ago
or a 21st century Spartacus.....
vaughntrapp 2 years ago
This is the plan, to make bankers rich, while we stay poor. Welcome to the new economy.
InterSmells 2 years ago 5
The ministry of information has informed the proletariat that we are now to consider these "toxic assets" as LEGACY ASSETS. In addition, inflationary measures are now to be thought of as QUANTITATIVE EASINGS...
WAR IS PEACE comrades!
coultrane 2 years ago 7
Now you can understand why they wish the net were never invented.
econogate 2 years ago 3
From treasury dept:
"Private Investors may not participate in any PPIF that purchases assets from sellers that are affiliates of such investors or that represent 10% or more of the aggregate private capital in the PPIF."
It's not so much those aligned with bank *equity* you have to worry about. It's the debt holders. Nationalization means they will take a big hair cut. Geithner plan give them a wonderful opportunity to bail themselves out.
codediporpal 2 years ago
So C buys BoA's "legacy assets" in their SIV, and BoA buys C's in theirs. Likely they'll use TARP $ to do so. that's why those two have been scooping up CDO's in the secondary market (also likely with TARP $)
L8APXR123 2 years ago
I should've read the comments before commenting about roundabout TARP. Looks like someone already mentioned that. It's a wonder such a plan would be thought up by the so-called brains of money and finance in Washington.
Jettie12 2 years ago
continued...
The plan never was to restore the economy, it was to inact the final push to reduce the value of your savings and assets to almost nothing.
Now all the mid-level investors go bankrupt, and the sharks at the top eat what's left. Thus gaining more control (almost absolute) over the financial institutions of the world.
The only way to solve this, is to abolish the Fed and other central banks. Thus giving control of the creation of capital to representatives of the population.
dead7s 2 years ago 7
Ever since the Revolution in this country, the banks have been trying to centralize the creation of currency. Great men fought it for a long time, but ultimatley failed with the creation of the Federal Reserve, and the practice of Fractional Reserve Banking.
Essentially, the Fed has increased inflation through the creation of capital as debt since it's inception. Now the baloon is about to burst, and the bail out money bieng created is going to burst it.
TBC...
dead7s 2 years ago 2
"creation of capital as debt"
translating to -
turning paper into money on the Mint's magical money machine :(
shotsy5 2 years ago
Actually, it's all done electronically now, making it even easier for them, and harder for us to track their efforts.
dead7s 2 years ago
Also, intrest is bieng charged on every cent, causing even more inflation. Intrest used to be called usery, and at one point in history it was na executable offense (just after the Dark Ages).
dead7s 2 years ago 2
Comment removed
stover33 2 years ago
So, do you have an alternative, creative plan for fixing the mess? There are many. I say, let the banks and ins. companies completely bust. That wouldn't hurt the capital of real people and would do away with the entities that are trying to foreclose on the real people that have paid in good faith for their families, communities and the greater good.
The situation is NOT uncommon (though not necessarily in the US). There are plenty of example to draw from.
Just my 2 cents.
hyperguitar 2 years ago
check this out... to tie into the reply of now time to buy bank shares, i mean look, 3.00 or less for citi? imagine a foreign country buying so many shares like china or other and ends up owning bofa? wow. wtf. they hold 2 tril in debt reserves, if it was me, i'd say, wow, you have a failing bank, let me just cash that in and buy up your bofa or other. wow.
thanks to all you young voters and faggots for voting for obama and making the possible future, possible........a freakin mess!!!
OLDTIME47 2 years ago
Just say, "NO!" Americans have to stop being chumps. Send this link to your congressman and senator. BTW, there are years of graft leading up to this crazy situation. Most of these guys should be busy shopping for a good defense lawyer not still cooking up another scam contrived to plunge the country into the worst imaginable financial collapse. The big banks should have just filed bankruptcy back in October 08, as in any real business their position would do.
baubosophia 2 years ago
I think the assumption that the government wants to "solve" this current crisis is a flawed assumption. In fact, there is significant evidence, as uncovered by the Reece Commission and others, that this current economic crisis was deliberately manufactured.
"It was a carefully contrived occurrence, International bankers sought to bring about a condition of despair so that they might emerge the rulers of us all"
Louis McFadden, Congressman who tried to impeach the FED Board.
peaceinunderstanding 2 years ago 6
that is some scary s h i t . maybe it has something to do with the antichrist and a new one world currency that he will control and if the mark of the beast is not taken, all those still left after the rapture by Jesus, will have no chance at all or be killed.
i would like a link to this eveidence or be shown where i can read it, and who are these international bankers you speak of?
OLDTIME47 2 years ago
Fiat money is a tool to enslave labor and should not be encouraged.
Corporate law is the dominant global religion. Mankind worships greed.
Fiat fuels this fire as it allows others to act immorally on societies behalf.
The disproportionate ratio of fiat:labor is the hallmark sign of economic luciferian slavery.
Fiat is not wealth it is purchasing power.
Until the common man accepts that and quits trading labor for purchasing power he will evermore be in economic bondage.
tona tona2009
grovernors 2 years ago 5
Excellent post, but I would actually go a little further than that. Fiat money is a part of usury, interest and inflation on the money we use is also a part of usury, as well as interest on loans etc.
Usury is a much more inclusive term in understanding the current crisis. It is a crime against humanity, it is a form of economic bondage. If left unchecked usury will and has chained nations and whole peoples, who cannot even through hard work endeavor to get out of the debts they are in.
wandereragro 2 years ago
greatv video thanks for making it available
kmcklendin 2 years ago
Wow. I just had that light bulb moment....Thanks Sal. When the people find out that they were robbed by these ruthless financial oligarchs, I wonder how they will react?
hipbas 2 years ago
O. ne
B. ig
A. ss
M. istake
A. merica
Copy and repost at will!!!!!!
JimmyJackJohnnyJose 2 years ago
Trying to make this a left/right issue won't solve the problem.
This is a systemic take over of our gov't from the financial industry. Do you really think Bush/Paulson would have done this differently?
tischler512 2 years ago 7
In other words, fraud.
OgeronimonominoregO 2 years ago 3
no law to stop this shit, huh. well now guess the banks are owning us lol. Reminds me of president jacksons scenario somewhat..
alhaquin 2 years ago