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Author Topic: Money  (Read 25801 times)

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AGelbert

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By Mike Whitney, Informationclearinghouse.info

February 5, 2020 | EDUCATE!

SNIPPET:

The Fed has no intention of allowing the public to know what’s really going on behind the scenes. Remember, the Fed “battled in court for more than two years to keep the details of its loans a secret from Congress and the American people”, so they’re certainly not going to do an about-face and open up today. No, what they are going to do is push the envelope as far as they can, operate far beyond their legal mandate, and conceal their inappropriate or illegal activity behind an iron wall of obfuscation and denial. Keep in mind, no one knew the extent of the Fed’s lavish handouts until years after the dust had settled. Check it out:

“When the nonpartisan investigative arm of Congress, the General Accountability Office (GAO), tallied up the cumulative total that the Federal Reserve had secretly sluiced to Wall Street from December 2007 through July 21, 2010, it came to $16.1 trillion. But the GAO did not include all of the programs that came out of the New York Fed. When those other programs are added, the Levy Economics Institute, using the Fed’s own data, arrived at the tally of $19.559 trillion to the Wall Street trading houses and another $10 trillion in central bank liquidity swaps, bringing the bailout figure   to over $29 trillion.” (“Fed Repos Have Plowed $6.6 Trillion to Wall Street in Four Months”, Wall Street on Parade)

So “over $29 trillion” was shoveled into the banking system without congressional approval and without the American people having any idea of how they were being finagled. We should probably expect the same underhanded goings on in the current crisis, in fact, that looks to be the case. The Fed is not going to acknowledge what it is doing and the media is not going to publish the details. It’s a conspiracy of silence.

Full article:

Light is sown for the righteous, and gladness for the upright in heart. Ps. 97:11

 

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