"The stated objective of the bank bailout programs is to alleviate the banks' burden of bad debts and non-performing loans. In actuality what is happening is that these massive amounts of money are being used by a handful of institutions to consolidate their position in global banking.
The exposure of the banks, largely the result of derivative trade, is estimated in the tens of trillions of dollars, to the extent that the amounts and guarantees granted by the Treasury and the Fed will not resolve the crisis. Nor are they intended to resolve the crisis.
The mainstream media suggests that the banks are being nationalized as a result of TARP, In fact, it is exactly the opposite: the State is being taken over by the banks, the State is being privatized. The establishment of a Worldwide unipolar financial system is part of the broader project of the Wall Street financial elites to establish the contours of a world government.
In a bitter irony, the recipients of the bailout under TARP and Obama's proposed $750 billion aid to financial institutions are the creditors of the federal government. The Wall Street banks are the brokers and underwriters of the US public debt, although they hold only a portion of the debt, they transact and trade in US dollar denominated public debt instruments Worldwide.
They act as creditors of the US State. They evaluate the creditworthiness of the US government, they rank the public debt through Moody's and Standard and Poor. They control the US Treasury, the Federal Reserve Board and the US Congress. They oversee and dictate fiscal and monetary policy, ensuring that the State acts in their interest.
Since the Reagan era, Wall Street dominates most areas of economic and social policy. It sets the budgetary agenda, ensuring the curtailment of social expenditures. Wall Street preaches balanced budgets but the practice has been lobbying for the elimination of corporate taxes, the granting of handouts to corporations, tax write-offs in mergers and acquisitions etc, all of which lead to a spiralling public debt.
The Federal Reserve System: Circular and Contradictory Relationship
The Federal Reserve system is a privately owned central bank. While the Federal Reserve Board is a government body, the process of money creation is controlled by the 12 Federal Reserve Banks, which are privately owned.
The shareholders of the Federal Reserve banks (with the New York Federal Reserve Bank playing a dominant role) are among America's most powerful financial institutions.
While the Federal Reserve can create money "out of thin air", the multibillion outlays of the Treasury (including the Bush and Obama bank bailouts) will require the emission of public debt in the form of Treasury Bills and government bonds. Part of these T-Bills will of course also be held by the Fed.
US financial institutions oversee the US public debt. They are involved in the sale of treasury bills and government bonds on financial markets in the US and around the World. But they also hold part of the public debt. In this regard, they are the creditors of the US government. Part of this increased public debt required to rescue the banks will be financed or brokered by the same financial institutions which are the object of the bank rescue plan.
We are dealing with a pernicious circular relationship. When the banks pressured the Treasury to assist them in the form of a major bank rescue operation, it was understood from the outset that the banks would in turn assist the Treasury in financing the handouts of which they are the recipients.
To finance the bank bailout, the Treasury needs to run a massive budget deficit, which in turn requires a staggering increase of the US public debt.
Public opinion has been misled. The US government is in a sense financing its own indebtedness: the money granted to the banks is in part financed by borrowing from the banks.
The banks lend money to the government and with the money they lend to the government, the Treasury finances the bailout. In turn, the banks impose conditionalities on the management of the US public debt. They dictate how the money should be spent. They impose "fiscal responsibility"; they dictate massive cuts in social expenditures which result in the collapse and/or privatization of public services. They impose the privatization of urban infrastructure, roads, sewer and water systems, public recreational areas, everything is up for privatization.
The recipient banks are the beneficiaries as well as the creditors. As creditors, they will oblige the government a) to slash expenditures b) to run up the public debt through the issuing of treasury bills and government bonds.
This public debt crisis is all the more serious because the US federal government does not control monetary policy. All public debt operations go through the Federal reserve, which is in charge of monetary policy, acting on behalf of private financial interests. The government as such has no authority over money creation. This means that public debt operations essentially serve the interests of the banks."
"Policy of multiculturalism in Europe has failed" 2013 05 22 The UK is experiencing a deficit of Caucasian people in the regions where the majority of the population is made up of immigrants and ethnic minorities. In the last 10 years more than 620 thousand white Brits left the capital of the UK, where Caucasians are now a minority making up only 45% of London’s population.
The policy of multiculturalism in ...
Stockholm braced for further rioting by young immigrants 2013 05 21
Main article from FT.com follows below this comment:
Well, all of this is hardly unexpected, since there now is pretty much annual riots in Sweden. Disgruntled immigrants who are burning cars, schools and other buildings is now turning into the norm in Sweden ...as it seems to be throughout the rest of Europe. Stones are flying and you can smell the ...
Dzhokhar’s boat ‘confession’ the most unbelievable part yet of Boston psyop 2013 05 21 Remember the notes that accompanied the anthrax deliveries right after 9/11? They said things like, “Allah is great!” “Death to Israel,” “Death to America!” and “9-11-01: This is next.”
In other words, THE MUSLIMS DID IT: the same ones who had so handily defeated the world’s greatest military machine on Sept. 11, 2001. And they did it because they hate us ...
The Mystery of the ’Immaculately Conceived’ Baby Anteater 2013 05 21 [...]Staffers at a zoological conservation center in Greenwich, Conn., are very confused — as are the rest of us — because their female giant anteater, Armani, has managed to conceive a baby, apparently without the presence of a male anteater.
It all started in August, writes Lisa Chamoff for Greenwich Time. Armani, an anteater at the LEO Zoological Conservation Center, ...
The US Government Might Be the Biggest Hacker in the World 2013 05 21 Cyber crime is big business in the US. It’s used to spy, steal, harass competition, political opponents, or to stage an attack and blamed it on a foreign enemy.
Is the government in on this crime industry? Yes, and in bigger ways than you can imagine…
This trend is enabled domestically by an institutionally corrupt US legal system and a police state ...