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09-03-24c_Geithner_Bernanke“The only people who have recovered from the crash are the guys who caused it”

There is no denying the fact that what is happening with the economy was planned. Much like the great depression was planned, except this time we the people are carrying heavy debt and work within a knowledge based economy. Which means there are little to no goods being produced, everything is manufactured in China. We are not going to manufacture our way out of this recession like we did in the past.

China has started to tighten up on lending which is sending the so-called “recovery” into a spin. In the midst of the slowing commodities and plummeting markets CEO’s are making billions in profit. The Federal reserve made a record 46.1 billion dollar profit as well as the top Canadian banks paying 8.3 billion in executive bonuses. The tax payers have paid back dollar for dollar all the money that was lent to European corporations before companies like AIG started asking for bailouts.
Webster Tarpley has named Wall Street “the enemy of humanity”. With Wall Street running the white house and the Fed running Wall Street, humanity at large is due for a change. The Fed’s net income of $52.1 billion in 2009 also was a record. It was up from $35.5 billion in 2008.

Many have expressed concern that the Fed’s extraordinary actions to fight the economic and financial crises could put taxpayers at risk by reducing the amount turned over to Treasury coffers. The Tax payers are already at risk they are the ones footing the bill for all this corruption.

The payment reported by the Fed for the 2009 4Q came from $46.1 billion in earnings from the securities it held last year. The Feds income rose largely because the Fed’s holdings of securities grew, though increases in the value of the securities also helped.

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“The Fed launched several securities-buying programs last year to help lift the economy out of recession. Its goal is to drive down rates on mortgages and other consumer debt. Under one program that ended last year, the Fed snapped up $300 billion in government debt. Under another program, the Fed is on track to buy a total of $1.25 trillion in mortgage securities from Fannie Mae and Freddie Mac by the end of March. It also will wrap up purchases of $175 billion in debt issued by the mortgage giants at that time. Those programs have boosted the value of securities held by the Fed.”

“The Fed’s efforts to end the crisis are separate from the $700 billion taxpayer-funded bailout program authorized by Congress in 2008 and overseen by the Treasury Department. Money from this program, originally set up to shorten up banks, also has been doled out to rescue other types of companies.”

The Fed is funded from the interest earned on it vast portfolio of securities. It is not funded by Congress. After covering its expenses, the Fed gives what is left over to the Treasury Department.

Besides the income from its securities, the Fed said it earned $5.5 billion from holdings related to the takeover of investment firm Bear Stearns and insurance company American International Group. The Fed also earned $2.9 billion from loans extended to banks, investment houses and others.

This revolving door will not shut until we the people decide to shut it. With everyone on Wall Street posting record bonuses at a time like this, we must be willing to take off the gloves. The Fed pays their profit to the Treasury. The Fed has made their profits from all the securities buying programs also known as the interest collected from government debt. The money maker is you the man or woman struggling to make ends meet, loaded with debt, a slave to the system. For the most part people are too apathetic to do anything, times are changing, we are in the midst of ascension. The day will come when people are forced to do something, to change for the better.

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In the past news like this would have been hidden from the general public. Today however we live in real time there is no delay and no stopping the truth of the light. We are in for the greatest awakening and reality check humanity has even seen, enjoy the ride.

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Andre H. Paris

Webster Tarpley on Wall Street

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