Busted: Bankers and The Global Economy

November 16, 2008

Big U.S. Bailout Secrets, No Supervision

bailout game show giveaway

bailout game show giveaway

The Troubled Asset Relief Program, originally a $700 billion bailout program mandated by Congress was to be conducted with transparency and oversight. That hasn’t happened and none of the oversight posts have been filled. To make matters worse, the Federal Reserve is now showing $2 trillion in additional loans, which apparently have gone to the central bankers bottom line.

Disclosure has been a joke in a solution that was declared to be sound and manageable. Instead, there has been no accountability and a desire to change plans in the middle of the bailout game by Henry Paulson and his team. Most of Congress seems unconcerned.

House Rep Barney Frank gave the thumbs up revealing, “I talked to Geithner, and he was pretty sure that they’re OK.” Who is okay? Certainly the Federal Reserve is very okay as they have nothing to lose and everything to gain. Who is Barney Frank talking about? Revealing the collateral for the $2 trillion in loans would give away banking secrets, so nobody is talking.

The reality is that the Federal Reserve is taking bad debt from the banking industry and giving itself huge sums of cash, since it still holds all the loot. It’s profit taking time in New York City. Perhaps this is the money to pay for all those Ameros that the U.S. just sent to China to pay for their earthquake rebuilding project, but that’s only conspiracy talk. ~ E. Manning

November 14, 2008

Hal Turner: Dollar About to Crash (Video)

Filed under: banking, money, politics — Tags: , , , , , — digitaleconomy @ 11:27 pm

Force Majeure (French for “superior force”) is a common clause in contracts which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as war, strike, riot, crime, act of God (e.g., flooding, earthquake, volcano), prevents one or both parties from fulfilling their obligations under the contract. However, force majeure is not intended to excuse negligence or other malfeasance of a party, as where non-performance is caused by the usual and natural consequences of external forces (e.g., predicted rain stops an outdoor event), or where the intervening circumstances are specifically contemplated.

Naturally, there is the line about gold being a hedge against collapse which is debatable since determining valuation is an issue, at least for the average Joe. Further, having gold sitting around during a national crisis with riots is of debatable safety. Hal Turner’s suggestion that you exchange your currency overseas is a viable option and would work in this scenario as well as could be expected.  Hal Turner’s statement is generally in line with what is on this website. Is this currency collapse a fabrication?  Considering the behind-the-scenes activities of central bankers or the International Society of Bankers, I think not.  I am quite familiar with that. The national economy has just been fleeced for $3 trillion dollars with the bailout. Think hard and take whatever steps you deem appropriate. ~ E. Manning

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