[HagsPusia]

Scariest Words I Have Heard All Year: The Federal Reserve's moves to grant special favors to European governments "pose little risk to the U.S. taxpayer, Fed officials said, because the Fed is doing business with foreign central banks viewed as trustworthy." Fannie Mae and Freddie Mac, Bear Sterns, Lehman Brothers, Merrill Lynch, Dexia Bank of Belgium -- they were "viewed as trustworthy," too. U.S. taxpayers once were told they would never, ever have to cover Fannie Mae losses. Now U.S. taxpayers are being told they will never, ever have to cover losses for European bonds.


What happened last week was that the Fed offered deeply discounted "liquidity swap lines" to European banks. This mumbo-jumbo means European banks can borrow U.S. dollars from the United States at 0.5 percent interest. If you need to borrow for a car or credit card debt, can you get a 0.5 percent loan directly from the United States government? Now wealthy Europeans can!



As collateral, the Federal Reserve received promises of euros. Possibly you have read a newspaper at some point in the past year. If so, you know there is a real chance the euro might go out of existence. In that case the collateral becomes worthless. The Fed will have given a large amount of U.S. dollars to Europe to be squandered.



The Federal Reserve did not say how many U.S. dollars have been offered to European governments. The last time transactions of this sort happened, Fed "swaps" to Europe peaked at $580 billion. And as Bloomberg News pointed out last week in an important investigative story by Bob Ivry, Bradley Keoun and Phil Kuntz, the Fed recently has been handing insider companies huge subsidies without even disclosing that it is doing so.



The reason European banks seek dollars in the first place is that, at the moment, companies and investors don't want to borrow euros: corporations and investors know there is a risk the euro will become worthless. Last week that risk was shifted onto American taxpayers. Now European banks can make loans in dollars rather than in euros. If the loans succeed, the rich of Europe keep the profits. If the loans fail, average Americans will be handed the bill. Perhaps that's why the Fed announcement was written so as to be incomprehensible.



At the Fed, when high-level staffers leave, one year later they may seek lucrative jobs at the banks whose profits rise because of Fed actions. Banks and other big businesses often hire former regulators to cushy jobs, in order to send this message to current regulators: sell the public down the river, and there will be a cushy job for you too.



A Fed defender would say that if the economy rebounds and the euro stabilizes, then there will be GDP growth with no losses to taxpayers. Let's hope. Yet in this best-case scenario, the wealthy of Europe get their capital at a half percent courtesy of Uncle Sam, while typical Americans pay 4 to 20 percent interest to borrow. That's the best case!



Washington has not only put the younger generation on the hook for at least $14 trillion in debt -- now young Americans may end up on the hook for money squandered in Europe. TMQ asks again: Why aren't voters under age 30 outraged about this?


http://espn.go.com/espn/page2/story/...ackers-success

[IodinkBoilk]

This can't be legal.

[Mello]

Hey LG, I like and agree with your post but I think you might want to edit your link...espn/Packers?

[Elelaytet]

This can't be legal.

It's all legal as you continue to endorse private credit. QUIT USING THEIR MONEY. Collapse the system by redeeming lawful money.

[yasmin]

I like that it's posted on ESPN!

Sports writers are held in high esteem by our sheeple.

[smifatv]

Hey LG, I like and agree with your post but I think you might want to edit your link...espn/Packers?

Scroll down just below Harry Potter.

[TOD4wDTQ]

I have disassociates myself from the outside world when it comes to finances......to be all this is only a circus act where the will be a grand finale.........now then.....scariest words that I could hear? "Ponce, you are a father".........holy crap.....followed by "Ponce, someone stole all your tp".........holy shit........I am a very brave man to even think of those two.

[bawayTeen]

This can't be legal.

When all the players are too big to fail and too big to jail. Doesn't really matter if it's legal or not.

[theatadug]

I have disassociates myself from the outside world when it comes to finances......to be all this is only a circus act where the will be a grand finale.........now then.....scariest words that I could hear? "Ponce, you are a father".........holy crap.....followed by "Ponce, someone stole all your tp".........holy shit........I am a very brave man to even think of those two.

Do you keep a stack of old phone books around just in case?

[prowsnobswend]

It's all legal as you continue to endorse private credit. QUIT USING THEIR MONEY. Collapse the system by redeeming lawful money.

Some info on the FED.http://answers.yahoo.com/question/in...8193606AAAP2ay
The United Community of Socialist American Fascistic States would be the appropriate moniker for your government, don't you think? Why not? Let's examine:

99% of U.S. citizens have a Socialist Security Number where they participate in the grandest ponzi scheme ever devised by men. Instituted in 1935.

99% of U.S. citizens have a government-issued birth certificate (a.k.a. U.S. BOND INSTRUMENT/TRUST INSTRUMENT : The Federal Reserve Eleemosynary Corporate State/Joint Stock Trust) which are registered with the U.S. Department of Commerce in Washington, D.C. as "collateral" for the Federal bankruptcy which occured in 1933 of which they are also co-signers for the artificially-created (International Banksters) National Debt. Instituted in 1921 under the Sheppard-Towny Maternity Act. Applicable doctrine of Parens Patriae.

Nearly all children of the U.S. attend government schools whose curriculums come from the National Education Association (NEA) under the U.S. Department of Education. Child abuse and child labor laws where children work with State approval; abolition of private apprenticeships and the creation of state-controlled apprenticeships (Fair Labor Standards Act of 1937).

The United States, as well as all other governments on the planet, have no lawful money of account to count, i.e., gold and/or silver coin. Notes are issued by private bankers which are copyrighted, borrowed (loaned) into circulation, and are nothing but promises to pay; being non-redeemable to the bearer on demand in anything of intrinsic value. The Banking Act of 1864, The Federal Reserve Act of 1913, Banking Relief Act of 1933, Coinage Act of 1965.

Deeds of trust and certificate of titles have superceded allodial titles. No U.S. citizen OWNS his/her home or land or business. It is all hypothecated in federal reserve notes and only allowed to be "'held in trust" due to the national bankruptcy. All rents (taxes) of land go to public purposes, i.e., forced to pay for government "public schooling," etc. If not, land is stolen (confiscated) and sold at county auction where your greedy neighbor bids on it.

The majority of U.S. citizens have "self-assessed" themselves to pay a heavy progressive or graduated income tax. Federal Income Tax and abolition of all Right of Inheritance.

Centralization of Credit in the hands of the State, by means of a national bank with State Trust Capital and enjoying inflated exclusive monopoly. I think I alluded to that already.

U.S. Department of Transportation and Federal Communications Commission means communication and transport are centralized in the hands of the State. State Drivers Licenses provide for State regulation of the "privilege" NOT RIGHT to travel.

The U.S. fascistic federal government has total production and labor under control through the U.S. Departments of Labor, Commerce (ALL CORPORATIONS), Agriculture, and Interior (Dept. of Interior controls Bureau of Land Management, Bureau of Reclamation, Fish and Wildlife Services, etc., etc., etc.)

Gee, U.S. citizens, I think I have covered nearly all Ten Planks of bad ole Karl's COMMUNIST MANIFESTO for a One-World Socialist Order, or if you prefer -- as your Jesuit, Masonic and Catholic founders would state it, "Novus Ordo Seclorum." Did you ever examine the Great Seal of the Egyptian/Babylonian United States? "Almighty Jupiter, favor this rebellious undertaking (AUDACIBUS ADNUE [ANNUIT] COEPTIS!"

Hurt's, doesn't it? Now how much longer are you going to continue to play games and pretend that you have not been conquered by the BANK and a very demonic hierarchy conceived in ancient Babylon, exported to Asia minor and bequeathed to modern Rome?

And by the way, that symbol of fascism, the FASCES -- a pair of them adorn the wall above and behind the speaker's rostrum in the Chamber of the U.S. House of Representatives. And I, and others who are also aware, can think of no reason for them to be there other than to vividly declare the "fascistic" nature of U.S. American republican democracy which is better known today as PLUTOCRACY -- a government of the wealthy, elitist ruling class of which U.S. citizen/subjects are merely statutory beneficiaries: U.S. Trust Property Beneficiaries of the elite. Now what are you going to do about it? Are you going to keep taking their handouts and favors? Or are you going to better, renounce them?

Because you have forgotten God, He has forgotten you. But it's not too late -- turn away from the darkness and the corrupt rulers of this world! Repent! Seek His face and He shall justly restore each of you who do.

There is ONE way to successfully accomplish this:

http://www.embassyofheaven.com/

Come out of her, My people! - Rev. 18:4-5

[bWxNFI3c]

What they are doing is giving away our purchasing power by cheapening their fake money.

Our whole system is built on their money. It is nice and easy to say to stop using their money, but my employer really doesn't care what I think about money.

[WumibBesowe]

Hey LG, I like and agree with your post but I think you might want to edit your link...espn/Packers?

No, the story is there...just gotsta scroll dooooown...

[xresultsearch]

It's all legal as you continue to endorse private credit. QUIT USING THEIR MONEY. Collapse the system by redeeming lawful money.

There's not enough of us. Sort of like, if enough Americans refused to pay their taxes, the system would collapse. There's just not enough of us willing to do it.

[easypokergonj]

I havent paid taxes in a few years, kinda tied up in a fraudulent foreclosure.

[f6HLLFcw]

Everytime D.C. says anything, I feel like this:

[Almolfuncomma]

All that I can see is the complete destruction of the world economy AND SPECIALLY the US economy.....this together with what is going on worldwide.......nawwwwwwwww.......I'd better stay with funny Ponce.

[carpartsho]

Hahahahahahahahahahahahahahahahahahahahaha

[haudraufwienix]

It's all legal as you continue to endorse private credit. QUIT USING THEIR MONEY. Collapse the system by redeeming lawful money.

Its abunch of horse biscuits to say redeeming lawful money.
Show me where redeeming lawful money stops the liability of federal income taxes?