Tuesday 22 October 2024

Between 2007 to 2010, the private Fed gave banks, corps 16 trillion secretly. How can they and their controlled media claim funding US government spending is socialism with that record?

The controlled alt right media, including ZeroHedge, suggest monetry funding of government spending is "socialism". To pay the gigantic and exponentially growing interest on the  federal debt now over 1 trillion to the private bankers using Fed reserve money and not taxes is "socialism"

Yet, when the private Fed Reserve secretly printed 16 trillion dollars between 2007 and 2010 and gave it for free to their crony banks and corpirations around the world, that is somehow not socialism. 

https://www.cnbc.com/2024/09/12/interest-payments-on-the-national-debt-top-1-trillion-as-deficit-swells.html

There is only one way out for the US to reboot its economy in 2024 and that is to take back control of the Fed

It means to give the 16 trillion not to the private bankers and corporatiosn to buy up vast swathes of the US after causing the financial crisis. It empowers the government to give 16 trillion to the American people to fund new businesses, new research, new media at no cost. The reboot requires no tax money. Federal taxes can be abolished. Fed taxes were only introduced in 1912 to pay for the privatisation of the legal currency and the private Fed.

No gold is needed. The money is backed by the total economic output of the USA.

This is the system which is making Russia and China prosper. Inflation is controlled by price controls and other tools.

If the US does not make the change very soon, it will collapse and be bought up by the BRICS in a year or two.

From media

The first ever GAO(Government Accountability Office) audit of the Federal Reserve was

carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the

Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie

Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but

watered down the original language of the house bill(HR1207), so that a complete audit

would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various

other bankers vehemently opposed the audit and lied to Congress about the effects an audit

would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s

nearly 100 year history were posted on Senator Sander’s webpage earlier this morning:

http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly

given out to US banks and corporations and foreign banks everywhere from France to

Scotland. From the period between December 2007 and June 2010, the Federal Reserve had

secretly bailed out many of the world’s banks, corporations, and governments. The Federal

Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually

none of the money has been returned and it was loaned out at 0% interest. Why the Federal

Reserve had never been public about this or even informed the United States Congress about

the $16 trillion dollar bailout is obvious — the American public would have been outraged to

find out that the Federal Reserve bailed out foreign banks while Americans were struggling to

find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12

trillion. The entire national debt of the United States government spanning its 200+ year

history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and

the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion

deficit into consideration, and swallow this Red pill: There was no debate about whether

$16,000,000,000,000 would be given to failing banks and failing corporations around the

world.


http://www.fecif.org/news/FECIF837.pdf

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