 |
 |
Bank Borrowing From Fed Already Exceeded Bailout Total in Last Week
$700 billion figure means nothing
Steve Watson
Infowars.net
Friday, Sept 26, 2008
U.S. banks borrowed $188 billion per day on average in the latest week from the Federal Reserve, meaning that the Fed loaned out more money than the Treasury’s proposed bailout in just one week, still barely managing to keep the economy afloat.
Federal Reserve data showed on Thursday the total amount banks borrowed nearly quadrupled the previous record of $47.97 billion per day notched just the week before, Reuters reports.
$188 billion per day on average over the course of five days means that the total amount borrowed from the Fed in the week ending the 24th September stood at $940 billion – a figure that easily eclipses the proposed $700 billion bailout.
As we have already reported, the $700 billion number was simply pulled out of thin air by the Treasury.
The Treasury’s fact sheet about the bailout states, “The Secretary will have the discretion, in consultation with the Chairman of the Federal Reserve, to purchase other assets, as deemed necessary to effectively stabilize financial markets.”
(Article continues below)
This gives the government and the Federal Reserve carte blanche to do whatever they want to long as it is done in the name of stabilizing financial markets, they can nationalize any company or industry and use taxpayer money, above and beyond the initial $700 billion, for whatever purpose is deemed necessary, without any oversight. Paulson’s bailout plan is also unreviewable by any court, it will remain in perpetuity.
Paulson’s draft bailout plans says: “The Secretary’s authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time.”
As Chris Martenson writes, “This means that $700 billion is NOT the cost of this dangerous legislation, it is only the amount that can be outstanding at any one time. After, say, $100 billion of bad mortgages are disposed of, another $100 billion can be bought. In short, these four little words assure that there is NO LIMIT to the potential size of this bailout. This means that $700 billion is a rolling amount, not a ceiling.”
If the bailout bill passes it is just the beginning of something much larger. $700 billion is a meaningless figure that will do nothing to shore up the economy. It is not a bailout, it is a giveaway that will allow insiders to purge themselves of bad bets and free to continue where they left off. The real reason for the bill is the unprecedented transfer of power to the Executive Branch and into the hands of the global corporate elite.
Prison
Planet.tv Members Can Watch
Fall Of The Republic
Right Now Online -
Don't Miss Out! Get
Your Subscription Today!
CANCER CONSPIRACY? Are
"they" suppressing the cure? Will YOU
be the next victim? Learn
the Secret Truth! - READ FULL STORY
-
- Social bookmarks
- Email this article
-
- Print this page
27 Responses to “Bank Borrowing From Fed Already Exceeded Bailout Total in Last Week”
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | |||||||
| By N2H | |||||||||||||||||||||||||||||||||||||||||
September 26th, 2008 at 12:22 pm
Go for it, see what happens!
No bailouts, no money, no war, but Marshall Law will be!
Just do it, stop talking.
If you can talk the talk.
But, can you walk the walk?
Stop your threats Congress, do stop your talk!
We’ve had enough!
Bring it on!
170,000,000,000.000 coming to you live!
September 26th, 2008 at 1:26 pm
Some people think the dollar is still backed by gold at Ft. Knox. The government officially reports 261 million troy ounces of gold in “deep storage” valued at $42.22. That $11 billion “on the books” value divided by the current market $900 price of gold, is 12 million troy ounces. So the government is officially reporting in a rather sly way, that it has sold or leased out 249 million ounces of the gold, which perhaps is why the gold is classified as “deep storage.” Perhaps accountants can be “officially” correct, using “Enron-like” gimmicks.
Ken Reply:
January 13th, 2009 at 1:04 pm
The term “Deep Storage” is reffering to the gold still in the ground in my opinin.
September 26th, 2008 at 1:46 pm
Tarpley was right on the money.
Bank borrows as much as they can at 2%, then put the borrowed funds into Treasuries earning 4-5%. No fuss no muss. Life is good when you don’t have to do a thing to earn a buck.
September 26th, 2008 at 1:48 pm
Alex,
Reports state that the U.S. gold inventory has not been audited. If this be the case, why?
September 26th, 2008 at 1:57 pm
Steve nails it on the last paragraph. This is the Wall Street equivalent of a banking “surge” to consolidate power. Raiding the kitty! Didn’t Cheney say “It’s OUR turn” when they got into office? The banking cartel is clearly taking the classic line: problem, reaction, solution. This is being called an economic Patriot Act, and is being shoved down our throats like it or not. It was written 6 mos ago. Big fish get bigger, e.g. JP Morgan Chase – the richest families in the world just keep swallowing up all the assets around, for pennies on the $ ($1.9B for WAMU?!) We will be ground under the heels of the banking class soon enough, dear friends. The ever recurring boom/bust cycle, not some mysterious “business cycle” we are led to believe, but the clear hand of the puppet masters staging a bloodless coup. Grab a bowl and spoon, blanket, and grab the nearest bunk at your local FEMA camp, it could be a long winter.
September 26th, 2008 at 2:13 pm
Don’t back down now.
Look the devil straight in the eye, and without wavering, give it a firm, “NO.”
THAT is what scares it.
It feeds on fear.
NO bailout. We WILL NOT stand for it.
September 26th, 2008 at 3:22 pm
I thought when the Dem’s took the majority that Bushy wouldn’t be able to screw things up any more than he already has. It looks like he won’t have a lame term after all – according to his friends!
September 26th, 2008 at 3:57 pm
I guess there will be sell out on ammo and guns this weekend. Maybe a trillion dollars worth of ammo bought.
September 26th, 2008 at 5:43 pm
The NW ODOR`s, difference than Bonnie and Clyde?? They`ll never share what they steal, from the US treasury, and they`ll use it, to imprison all north american citizens in camps. CAN YOU SAY, BUILD A BETTER BURGER BUDDY?
September 26th, 2008 at 5:48 pm
say goodbye to dad
http://ca.youtube.com/watch?v=X4rD6muiCd4
September 26th, 2008 at 6:52 pm
Alex Jones, you did a great job, love ya man, but PLEASE STOP TALKING OVER YOUR GUESTS and CALLERS, it’s the worst part of your radio show. You give yourself plenty of time to talk about your favourite subjects, let others talk aswell. You used to have good timing with your interruptions, there is a place for this just not all the time. I am giving you this REPROOF as a brother in Christ I think
September 26th, 2008 at 7:01 pm
tell me something I didn’t know !!!!!!!!!!!!
http://www.youtube.com/watch?v=sGYA5gbMgfg
September 26th, 2008 at 7:25 pm
Remember folks , all that money didn’t disappear , somebody , somewhere has it ! Stick the bailout , let them take as loss and they will learn there lesson ! WE , THE GENERAL PUBLIC ARE NOT RUNNING A DAYCARE CENTRE FOR THE RICH AND GREEDY !!!!!!!!!!!!!!!!!!!!!!!
September 26th, 2008 at 8:34 pm
188 BILLION PER DAY !!!! 188 BILLION PER DAY !
That’s is it folks, America as we know it, is done, period. I had no idea the Fed was lending out that much money per day to the banks. No wonder the commitee meetings were burning the midnight oil, this is an emergency, this is the disaster. Just wait till Monday. That’s when the shit hits the fan. By Friday there will be a total run on the banks and food at the supermarkets will triple.
September 26th, 2008 at 10:23 pm
I dont have one ounce of knowlege when it comes to federal financial matters but any Lame Duck can see that this $700 Billion dollars isn’t going to do jack shit !!!!!!
I dont know why this number has come to fruition but I do know and everyone else must be asking the same question why this amount when we can clearly see that the Banks borrowed more than that in a week ..Is this just a appitizer or something to just make the Government look like they are trying to do something ????????
I personally believe its the Latter ….Its nothing more than a stunt and Congress knows this and thats why it opposes it ….
If aproved by monday when Wall Street Opens it will be swallowed up- so fast it will go like the blink of an eye and who will bennefit anything from it “answer” NO ONE Its the Taxper of Americas Money you have a right to say No to it ,so why Aren’t you ????? Tell G W NO !!!!! Just like Congress does …Awwww thats right you ellect a Congressman to say “no” for you ..Dont realy on him stand up and together tell him “NO” why should you bail out some banker who got to greedy with his buddies and ruinned your Countries Ecomnomy ???? Its because Down there ,,their a law unto themsleves and they dont care about you ,,you family ,,your house your just about to loose … The only care about themsleves and I bet you anything ,,they’ll be on the first plane out Of the United States when this all crashes into ashes Like the WTC”S
SEND YOU CONGRESSMAN A BIG “NO” TODAY !!!!!!!!!!! as to the Bailout ..Its not you fault ,,its The goverments Fault allong with your Congressman who has probably known all bout it for months …..
September 26th, 2008 at 11:24 pm
They are a sly bunch and have made up all the rules over time in order to fortify their agendas and to establish security measures from being dragged one by one to the town square for a stoning. (and that’s being generous)
No two ways about it, the time has come to burn the rules books, start the revolution and fight fire with fire. And if you think I’m wrong, then, JUST LOOK AT WHERE YOU ARE NOW!
So, WAKE THE FK UP!
It is the only way left and NOW to save the country and restore the constitution to the people just where it belongs. And don’t tell me because ‘they’ wrote some one sided law BS saying “It’s the law now and can’t be repealed” that ‘that’ has ANY true value from these manipulating treasonous cowards. They have used and abused to say the least, and I can practically here their voices in the room as they say “What are THEY going to do about it”
Well first you gotta get MAD, then you gotta finally say AND I’M NOT GOING TO TAKE IT ANYMORE and mean it! And I guess when your broke enough, you will have nothing left to do at that time but fight for your survivals.
The country is on the brink of chaos, and at their hands. So screw them all and restore it! If you want a future, then stop being so polite and optimistic for a change and take action as it NEEDS to be because those warm fuzzy niceties and courtesies are just fuel for the fire and a further setup to the economic slaughter and whatever else they have already planned for after that. The very people who have done this to us will be watching us parish on closed circuit televisions in the comforts of their ill gotten palaces as they further feed on our deaths. Army and police officers reading need to take a firm side and forget the mandates and where they come from as they are dishonest, reckless and go against the very fabric and foundations of society as we once knew it. The people crave to see the ‘cop in the ice cream parlor’ again that we all recall seeing in those great Norman Rockwell prints. Get my drift? Start protecting the people who made, paved and paid for the country you were brought up in and not that of the aristocrats. Think for yourselves to what is really ‘right’ and ‘just’, then you will have no reason to stray from your conscience or feel any guilt for doing the ‘right thing’ as an officer of the people and in regards to your families and neighbors, and future of the country your very children will live in. Everything with a beginning must also have an end. Hitler comes to mind.
I just can’t believe it has gone on this long and to this very dangerous point. What on earth will it take next to motivate YOU!
United we stand!
September 27th, 2008 at 6:08 am
Here we go, more illiquid (worthless) assets. Taxation without representation (sound familiar?). We buy and own more of this nothing than anyone, anywhere, while the bankers, oil magnates and politicians just get richer! When are we, the people, going to bring this shell game to an end.
Turn off your TV’s for a minute and start tracking your representatives. Let’s begin getting these self serving traitors out of office and into court to answer for their crimes.
Oh wait, Wheel of Fortune just came on – gotta go.
September 27th, 2008 at 10:04 am
They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason
http://www.youtube.com/watch?v=uw5dP5gy2Vs
September 27th, 2008 at 12:15 pm
I agree, this “bailout” bill needs to simply die… as does the Federal Reserve corporation.
Trying to blame this outright theft of America’s wealth on “Jews” is ridiculous and distracting. What is the root of all evil? The love of money. Greed knows no racial boundaries; stop distracting from the real issues.
These are criminals, irrespective of their race, gender, shoe size, or anything else, and they must be stopped.
We need to get creative, and figure out how to wake people up.
September 27th, 2008 at 2:36 pm
What has happened to “America”? Are we really going to stand-by and let the FED bleed us dry? This is the biggest heist in recorded history. They might as well be asking for unmarked bills. Last week they decide to change their loan criteria and essentially printed almost as much money there asking for in this bail-out hogwash. How can we print 1.4 trillion dollars in two weeks and EVER recover? The dollar is at its lowest and now they want to dilute it to the point of total transparency. It sure is pretty with all the new colors, might as well be monopoly money about the same value! Wake up “America” the FED is a private institution and we are its slaves, if we continue to let them print more and more of our almost worthless currency their greed will bankrupt the greatest “Idea” ever conceived.
September 27th, 2008 at 3:35 pm
Face it! Your one of the few who has figured it out.
The sheeple are ready slaughter.
September 27th, 2008 at 5:46 pm
It’s different for the FED to loan money to banks. It’s what they do. It’s not like a bail out.
I use to work at the federal reserve (computers) and yes I hate the fed & concept of the fed which is why I quit.
The Fed’s job is to lend money to banks. That was a staggering amount to lend though. Yikes. But “lend” is different than “bail out”.
We are screwed anyway
September 27th, 2008 at 9:39 pm
You may not know it but you were born into slavery. That’s right, I said slavery! If you were born after 1913 in the United States, you were born a slave to the financial institutions that run this country. 1913 was the year that congress relinquished its power to print and regulate money, turning it over to a private bank that is known by the misleading name, “Federal Reserve”. The truth is that there is nothing federal about this institution. The “federal” reserve is nothing more than a private bank, a bank that our government borrows money from and pays back with interest. The funny thing is that there is nothing to back this money up. We have abolished the gold standard long ago so this “money” that they print just comes out of thin air. It is essentially worthless paper.
Why am I writing this you ask? The answer is simple. The proposed bail out of the financial institutions is nothing more than a band-aid to keep the economy afloat for another year or two. The money will not go to people having a hard time keeping up with their unfair adjustable rate mortgage. No, this money will be pumped into companies at the top level to create liquidity. All this means is that the banking companies will be able to create more loans and in turn more debt. It is a power grab on the part of the richest of the rich. It will give the Federal Reserve the ability to buy up what remains of the free market and create a socialist network economy.
J.D. Rockefeller pulled all of his assets out of the stock market once. This in turn created a panic on Wall Street and caused the great depression. When the stocks bottomed out and lost all their value, he bought up everything he could at a discounted price thereby making him and his family the most powerful and rich on earth. By the way, who’s idea did you think it was to start the Federal Reserve? This man was quoted as saying: “Give me the power to print a country’s money and I care not who makes the laws.” It is the same group of people that are in charge of the “Federal” Reserve today!
Ask yourself what caused this latest scare on Wall Street. It was the short selling of key stocks that make up the cornerstone of our economy. Who sold these stocks? Who created this latest panic? It seems that no one is concerned with that. All the government wants to do is throw more money at the problem. This money by the way will be borrowed from the Federal Reserve to be controlled by the Federal Reserve, and then be paid back by the taxpayers with interest to the same damn Federal Reserve. Sounds like a bullshit deal to me!
Our entire economic system is based on credit and speculation. If you were to build a house on a happy little cloud rather than a foundation, what would happen to it? It would fall to the ground before you were finished building it. If our economy and our money were still based on gold (a firm foundation), a new home would still cost $7,000 like it did fifty years ago. Inflation is the term used to describe how much the value of the dollar has fallen, not how much the value of goods and services has increased. If you bought a $100,000 home ten years ago, they say it would be worth $130,000 today. Well, that would be great except for the fact that $130,000 will not buy what $100,000 did ten years ago. A gallon of gas cost four times as much as it did and a gallon of milk in on par with that as well. I remember buying a loaf of bread for a quarter not even fifteen years ago. Try finding one for a dollar now!
It is only a mater of time before the dollar is phased out as the world reserve currency. This means that the prices of gold, silver, oil, and other precious commodities will be priced in euros. I encourage everyone who reads this to pull out! Remove any money you have in a 401K, stocks, bonds, money market account, cd’s, etc. Let the moneychangers get what has been coming to them for the past 90 years. They deserve to fall on their asses! Take out your worthless currency and buy silver while the price is still relatively low. Gold is too expensive to be considered a wise investment. When this country finally restructures its financial system, our new currency will undoubtedly be based on silver.
If we allow one person or one company or one supposed “government organization” to control our entire economy, then we deserve the misery that will befall us all!
September 28th, 2008 at 2:40 pm
http://www.ExposingChristianity.com
The pen is mightier than the sword.
__________________________________________
- Everything in Christianity has been stolen from religions predating it by hundreds to thousands of years.
- Judaism, Christianity and Islam are all programs to keep spiritual knowledge away from the populace in order to keep humans enslaved by the global elite.
- Nearly everything in the bible consists of symbolism, allegories and twisted truths that are to be taken literally by the masses.
- Contrary to what most people have been indoctrinated with, Judaism, Christianity and Islam are relatively new religions. Humanity goes back tens of thousands of years. These three have worked relentlessly to keep us from spiritual knowledge and using this power, of which all of us have.
- The survival and prosperity of this vicious hoax on humanity requires only ONE thing- A LACK OF KNOWLEDGE!
September 28th, 2008 at 7:47 pm
@sharper
You are absolutely right! Religion as we know it is just another tool used by these Rats who have real knowledge and use it against us. Money is another tool used against us as well, Barter keeps everyone and everything in check and does not allow any one person nor any entity to hold power over others.
Banks are evil as are governments! Only the weak want others to run their lives for them!! The strong will always survive no matter what!! This is why they are destroying strong men and women!
They will get very far with their agenda but will never win!! They are weak men and women because they use secrecy to do their dirty deeds!! THEY WILL NOT WIN EVER!! THEY HAVE TRIED THIS SHIT FOR THOUSANDS UPON THOUSANDS OF YEARS YET HAVE FAILED OVER AND OVER AGAIN!!
THAT’S WHY IT IS SAID: HISTORY REPEATS ITSELF!! REMEMBER THIS!!
September 29th, 2008 at 11:21 am
Become a soldier in the Information War!
Make flyers and/or movies of whatever you feel is most important or whatever you are most educated about.
Wearechange.org has an excellent 911 Truth flyer.
Maybe you can come up with a creative, unique new Information Warfare Tactic? If so, record yourself in action and share it with your fellow troops!
The first step to defeating the “new world order” neo-fascists is to attain a critical mass of wellinformed and INSPIRED individuals.
We CAN take our world back as soon as we remember that WE ARE THE REAL SOURCE OF POWER!
THE FUTURE IS OURS, WE ONLY NEED TO CHOOSE TO TAKE IT BACK!
SPREAD THE WORD,
FREE THE HERD!
On with the r3VOLution!!!…
!!!DTTNWO!!!