by Smitty (via Reboot Congress on Twitter)
Yeah, had to look up the SI prefix on that one. Tyler Durden over at Zero Hedge reveals something you’ve more or less suspected, but didn’t want to go all tinfoil hat about, emphasis original:
. . .Wall Street’s (not to mention the rest of the world’s) biggest banks received a total of $1.2 trillion in previously secret Fed loans, in addition to the trillions in public backstops and loans from the US Treasury. As a reminder, “denominated in $1 bills, the $1.2 trillion would fill 539 Olympic-size swimming pools.” The best summary of this ongoing collusion between the Fed and Wall Street, in which it once again for the nth time becomes clear that all the Fed cars about is making sure its banking masters are never impaired, is from the article itself: “Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret, avoiding the stigma of weakness.” And there you have it: everything that come out of Wall Street is and has always been a lie. . .
Now, I love my country, the Constitution, and its symbols; however, the level of global deceit involved with the Federal Reserve is such that I will agree: Americans have a substantial reason to be ashamed over this. This blog calls on all GOP Presidential candidates to estimate the number of shotgun shells they estimate it will take to put this zombie down, in the name of all that’s decent.
It is time to End the Fed.
Anticipating Bernanke’s kiss-my-rebuttal, he’d probably say that we want him on that bank, we need him on that bank. Bunk. This is a man, in a long series of men, on a policy bender, cheerfully deciding that what we all need now is a little more hair of the bitch. If Bernanke wants to stress test his wallet, that’s his prerogative. If our government fails to protect my wallet, and that of my children, then my government is illegitimate, unrepresentative, and debased.
It is time to End the Fed.
The Creature from Jeckyll Island will celebrate a century of undead, anti-Constitutional existence in 854 days, as of 22 August, 2011. Of the two conferences in the American Political Football League that have perpetuated this monstrosity, the GOP is relatively more likely to step up to the [expletives go here] plate and finalize the Fed.
It is time to End the Fed. Come to think of it, 1.2 teravolts would probably vaporize the Fed nicely.
Related Rick Perry thoughts at Chicago Boyz. Meanwhile, The Moderate(ly Progressive) Voice links CBS giving a platform to the frequently helpful Ben Stein beclowning himself. Just because the Federal Reserve has been a slow-motion heist, Ben, does not justify it.
