The web of debt
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http://www.webofdebt.com/articles/ti...uy_the_fed.php
Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):
In its latest power play, on October 3, 2008, the Fed acquired the ability to pay interest to its member banks on the reserves the banks maintain at the Fed. Reuters reported on October 3:
“The U.S. Federal Reserve gained a key tactical tool from the $700 billion financial rescue package signed into law on Friday that will help it channel funds into parched credit markets. Tucked into the 451-page bill is a provision that lets the Fed pay interest on the reserves banks are required to hold at the central bank.”3
If the Fed’s money comes ultimately from the taxpayers, that means we the taxpayers are paying interest to the banks on the banks’ own reserves – reserves maintained for their own private profit. These increasingly controversial encroachments on the public purse warrant a closer look at the central banking scheme itself. Who owns the Federal Reserve, who actually controls it, where does it get its money, and whose interests is it serving?
This plan that Hank made up looks like "WE" are going to eat all those derivatives on Friday from Lehmans and Wamu anybody who went under
Our Congress was forced under the threat of martial law to pass this
You can't imagine what this bill is going to come to.
This debt is in the trillions
They just did Fannie and Freddie and it was like 53 billion because the difference was only like 9 bucks for the market to value
Lehmans and Wamu are 100%.
This is what they want us to eat
Bullsh*t
I got a kid that deserves a life
http://www.youtube.com/watch?v=A9xlubsyxvI
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http://www.youtube.com/watch?v=QVX9Bf8QEc4
Can you say we got set up to eat the whole bill!
1 regulator for the CDS's
There was 146 but somebody didn't think they were needed
They swapped hand over fist and the bill comes due Friday
