Essentially: the Federal Government has 'loaned' 2 trillion dollars to the Federal Reserve. The Federal Reserve is not part of the Federal Government. The FR is a membership of mega-banks.
This 2 trillion dollars does not exist and no callateral was put up for this loan. What this will do is double the money supply in the U.S. This will devalue the dollar and we, the tax payer and consumer, will pay more for everything. The Federal Reserve banks, 12 of them, are private banks, while the Federal Reserve Board is a 'public entity', registered in New York State. If you ask an elected official if the Federal Reserve is part of the government, they will probably tell you 'yes', as the Federal Reserve Board is composed of elected members, registered as a public entity in a sovereign state of the United States. Confusing? Yes.
Bloomberg is suing the FR to reveal where this money went. Remember, the U.S. is the 'reserve currency' of the world. What does that mean? Other currencies are rated in value agains the U.S. dollar. oh oh....
AND all this happening on BUSH'S WATCH! Nice touch W. This is what Obama and his globalist uber-liberal cabinet will inherit.
What's next? A North American Regional Currency that allows the smoothing out of financial wrinkles in North American that will erase debt (your mortage arrears, your credit card debt) by lowering your ability to buy, save, and compete.
The Fedgov will bail you out like they did with the banks and are going to do with the 'Big 3' auto makers. If the fedgov buys your mortgage; ask yourself this: who or what foreign entity might buy my mortgage. The National Bank of Russia? The Chinese?
Ben Berneke and Barney Frank say this is great and they trust this solution.
Where do YOU fit in to all this? You're an idiot. That's what Ben and Barney are saying when they appeal to your sense of trust and faith in the fedgov's bailouts.
I'm an idiot! I make being an idiot look good!
Let's go back to the word 'compete'.
Compete with who? Other nations whose national debt and currency can't compete with the U.S. dollar until the U.S. currency is devalued.
Confusing? Yes. Conspiracy? No. Something to worry about? Definately yes!
PETER BOYLES ARTICLE ON THIS CONFUSING ISSUE
The Wealth Of Nations Or How The Invisible Hand Smacks You In The Ass
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