Hell, even if they did that they would then expand the entitlement system till the system failed again. It is all so stupid. We got a bunch of lazy mofos/parasites that have been living off the host for too long. OK, HS science class - what happens when parasites overwhelm and wear out their welcome on their host? Host dies. that is where we are as a nation.
Showing posts with label Audit the fed. Show all posts
Showing posts with label Audit the fed. Show all posts
Friday, September 9, 2011
Morning post (in Exile) 09/09/11
How bout that stealth debt ceiling increase last night? Holy shit. Welcome to the 15 trillion level and 100% debt to GDP - the end is near folks. I do believe they could fix this problem very easily, but it would cost us our military might. You just cut the defense budget in half and poof there will be plenty of money. Sorry - not willing to do that. Would much rather starve than be the small dog on this big rock.
Wednesday, March 10, 2010
Thumbing Thru The News - P3 Anyone?
It has been pretty quiet over the past week or so on the big news front following the Greek Drama's settlement. Is this the eye of the hurricane or just the quiet before the storm?
In a must read post from Zero Hedge -As Budget Deficit Hits Record High, Interest On US Public Debt Hits Record Low - TD notes."How is it possible that unprecedented debt accumulation can result in ever declining interest rates, and Treasury auctions, such as today's 10 Year reopening, in which the Bid To Cover hit an all time high? One answer: The Federal Reserve, which through complete domination of the entire capital market courtesy of ZIRP and QE has now turned market logic upside down by 180 degrees." There are no more rules in this game. The Fed holds all the chips and there is ZERO transparency. Please give this post a read and consider the "simple math" that I keep harping on as to why this whole rescue plan will not work out gets explained in detail.
Denninger really makes the math simple (like 5th grade math) in his post What's Our Credit Limit Again? "Remember - entitlements were half of that $328 billion. So let's see if we can do the math here.Entitlements were about $164 billion last month in spending. The rest was, of course, the rest.But we only took in $107 billion.So even if we eliminated all entitlement spending we still did not have enough money to cover the rest.Yeah." I keep telling you people that it is gonna be really bad and this is so simple to understand. Maybe it is so drastically bad it just does not register with most. The most deflationary period in the history of the world is coming like a freight train. Everything hs to be readjusted. Be ready."The market and economy are absolutely dependent on the Federal Government continuing to do so. Should the government not be able (or willing) to continue to do so, S&P 666 or DOW 6,489 will look like a bull market."
naked capitalism knocks the ball out of the park in The Empire Continues to Strike Back: Team Obama Propaganda Campaign Reaches Fever Pitch "This juncture (for Obama to keep his campaign promises and institute reform rather than joining the banksters) was a crucial window of opportunity. The financial services industry had become systematically predatory. Its victims now extended well beyond precarious, clueless, and sometimes undisciplined consumers who took on too much debt via credit cards with gotcha features that successfully enticed into a treadmill of chronic debt, or now infamous subprime and option-ARM mortgages." Please give this post a read. It is a great read.
By the end of this crisis I am prognosticating that 90% of the unions will be run out of existence. Especially if they keep action like this group Moorestown New Jersey Unions Highlight Union Arrogance. I have nothing against unions. I think they are right and good for the people as I hate the greed loving money grubbing corporations that raise productivity and profitability to a point that workers are more treated like slaves than assets. I hate corporate America. I hate it's relationship with Wall St. that drives greed and profitability over worker's rights and well being. Bottom line though is that the unions will have to make massive concessions to survive and they won't. It is not in their DNA. Everything has to deflate massively and the union workers who are some of the best paid and insured will have to concede. They won't.
Last night I touched on the National ID Card being proposed to control "illegal immigration". This is bullshit and you need to know what they are talking about. Please listen to this interview with Ron Paul on the subject. Passage of this is a severe blow to our civil liberties. Do you want the government to monitor EVERYTHING YOU DO? I don't think so. Think about constant government surveillance.
I have to share this again, a one sentence clip from Mish that quotes Pelosi, "We have to pass the health care bill so that you can find out what is in it." Oh my goodness, I guess the concept of blackmail has now spread from the banks to the representatives.
Rasmussen Reports presidential Tracking Poll today - Funny how the Strongly Disapprove line in red really correlates to the SPX chart. I still think it is about 20 points to high.Sadly after the market crashes, I don't think the approval rate will correlate anymore.
This is post 665 in the old blog, you know what number that makes tomorrow morning's post. LOL, might be interesting. Stay tuned. Sorry about the Morning Protest this am, but I was a little miffed (beyond normal). I should have a rule not to post anything before 8:00, as all communication that happens before my brain catches up with my mouth (fingers in this case) should be banned.
Please support Audit The Fed
Look for the NCAA Tournament Bracket Challenge coming next week.
GL out there!
In a must read post from Zero Hedge -As Budget Deficit Hits Record High, Interest On US Public Debt Hits Record Low - TD notes."How is it possible that unprecedented debt accumulation can result in ever declining interest rates, and Treasury auctions, such as today's 10 Year reopening, in which the Bid To Cover hit an all time high? One answer: The Federal Reserve, which through complete domination of the entire capital market courtesy of ZIRP and QE has now turned market logic upside down by 180 degrees." There are no more rules in this game. The Fed holds all the chips and there is ZERO transparency. Please give this post a read and consider the "simple math" that I keep harping on as to why this whole rescue plan will not work out gets explained in detail.
Denninger really makes the math simple (like 5th grade math) in his post What's Our Credit Limit Again? "Remember - entitlements were half of that $328 billion. So let's see if we can do the math here.Entitlements were about $164 billion last month in spending. The rest was, of course, the rest.But we only took in $107 billion.So even if we eliminated all entitlement spending we still did not have enough money to cover the rest.Yeah." I keep telling you people that it is gonna be really bad and this is so simple to understand. Maybe it is so drastically bad it just does not register with most. The most deflationary period in the history of the world is coming like a freight train. Everything hs to be readjusted. Be ready."The market and economy are absolutely dependent on the Federal Government continuing to do so. Should the government not be able (or willing) to continue to do so, S&P 666 or DOW 6,489 will look like a bull market."
naked capitalism knocks the ball out of the park in The Empire Continues to Strike Back: Team Obama Propaganda Campaign Reaches Fever Pitch "This juncture (for Obama to keep his campaign promises and institute reform rather than joining the banksters) was a crucial window of opportunity. The financial services industry had become systematically predatory. Its victims now extended well beyond precarious, clueless, and sometimes undisciplined consumers who took on too much debt via credit cards with gotcha features that successfully enticed into a treadmill of chronic debt, or now infamous subprime and option-ARM mortgages." Please give this post a read. It is a great read.
By the end of this crisis I am prognosticating that 90% of the unions will be run out of existence. Especially if they keep action like this group Moorestown New Jersey Unions Highlight Union Arrogance. I have nothing against unions. I think they are right and good for the people as I hate the greed loving money grubbing corporations that raise productivity and profitability to a point that workers are more treated like slaves than assets. I hate corporate America. I hate it's relationship with Wall St. that drives greed and profitability over worker's rights and well being. Bottom line though is that the unions will have to make massive concessions to survive and they won't. It is not in their DNA. Everything has to deflate massively and the union workers who are some of the best paid and insured will have to concede. They won't.
Last night I touched on the National ID Card being proposed to control "illegal immigration". This is bullshit and you need to know what they are talking about. Please listen to this interview with Ron Paul on the subject. Passage of this is a severe blow to our civil liberties. Do you want the government to monitor EVERYTHING YOU DO? I don't think so. Think about constant government surveillance.
I have to share this again, a one sentence clip from Mish that quotes Pelosi, "We have to pass the health care bill so that you can find out what is in it." Oh my goodness, I guess the concept of blackmail has now spread from the banks to the representatives.
Rasmussen Reports presidential Tracking Poll today - Funny how the Strongly Disapprove line in red really correlates to the SPX chart. I still think it is about 20 points to high.Sadly after the market crashes, I don't think the approval rate will correlate anymore.
This is post 665 in the old blog, you know what number that makes tomorrow morning's post. LOL, might be interesting. Stay tuned. Sorry about the Morning Protest this am, but I was a little miffed (beyond normal). I should have a rule not to post anything before 8:00, as all communication that happens before my brain catches up with my mouth (fingers in this case) should be banned.
Please support Audit The Fed
Look for the NCAA Tournament Bracket Challenge coming next week.
GL out there!
Tuesday, January 26, 2010
Banging On The AIG Deal
Want to read an interesting take that may give you some insight into the AIG scam/bailout? Try AIG: Collusion Of Epic Proportions Between Goldman's US Treasury Branch And Goldman Sachs Proper I thought is was a good read. It actually made me sick to my stomach. If what GS pulled off was that savvy, we are truly screwed and the inmates are running the asylum.
Follow that up with Oh, So The Fed *DID* Hide Documents? from Denninger. "Additionally, Barofsky said he is reviewing the cooperation of the Federal Reserve with his staff's attempt to conduct an audit of the AIG transactions. Some of the documents recently turned over to the Oversight panel "were not provided to the SIGTARP audit team during the course of the audit."" Uh...do you really think they will ever truly turn over everything? What rose colored glasses scenario do you think will happen with this fiasco? All documents will be turned over, every phone call documented, a complete accounting for all cash involved and sworn testimonies from all involved will just appear? I don't think so. When you rip someone off for $18bn plus and have set up the play for years and you have the government in you back pocket, Naaaah, I don't think this ends in any satisfactory manner for anyone other than GS.
Then you throw Timmahh into the mix (I think he gets thrown under the buss). Questions Geithner Cannot Escape compliments the two posts above and ties it all together. I suggest you read them all and have a hefty bad near your chair in case the overwhelming desire to puke your guts out occurs. Will you be angry. I sure as hell hope so. I guess it is a matter of national security that we need to commit fraud and conceal evidence and lie to cover up how much money was stolen from the taxpayers on Obama's watch. That's right, I said it. This all happened on Obama's watch. Oops, was that a racist statement? that will be the claim du jour in a year or two. Be ready for it. (Hell, is Barry even eligible to be president? Was that the biggest part of the heist? Think about it?)
The best video of the day is AIG Spbpoena from CNBS. This morning Senator Jim Bunning just railed the system. I loved it. This may help with some of your anger management issues after reading all of the above.
Prag Cap brings you Cry Wolf Part 4 - ooops - I mean ROBERT PRECHTER: THE MARKET IS ENTERING THE NEXT BEAR PHASE. Hey, maybe the 4th time is the charm. RP totally chickens out on giving a projection when we all know he could have given a window based on his principles very easily. Me thinks he's been stung one to many times this past year. My thoughts on EWT, it has it's moments of brilliance, but not when Hotchberg is counting. Stick with Kenny or Daneric, they do it for free and run circles around the guys making millions (friggin ass backwards like everything else in this country). Lord I hope they are right this time. Me - I have not called a top yet. I want to this time more than any other. I'll be patient, trade it like the top is in and let form confirm the top. The other thing about EWT that is 100% certain - they will always get the count right AFTER the fact!
If you need a return to econ 101 and want the most creative and entertaining history lesson ever please see Hayek vs. Keynes - Straight Outta Compton from Zero Hedge. It is a classic.
GL out there. It is so comforting to know that our government, the treasury, the fed and the banksters have everything under control and we can trust them implicitly with or future. I'll sleep well tonight!
Follow that up with Oh, So The Fed *DID* Hide Documents? from Denninger. "Additionally, Barofsky said he is reviewing the cooperation of the Federal Reserve with his staff's attempt to conduct an audit of the AIG transactions. Some of the documents recently turned over to the Oversight panel "were not provided to the SIGTARP audit team during the course of the audit."" Uh...do you really think they will ever truly turn over everything? What rose colored glasses scenario do you think will happen with this fiasco? All documents will be turned over, every phone call documented, a complete accounting for all cash involved and sworn testimonies from all involved will just appear? I don't think so. When you rip someone off for $18bn plus and have set up the play for years and you have the government in you back pocket, Naaaah, I don't think this ends in any satisfactory manner for anyone other than GS.
Then you throw Timmahh into the mix (I think he gets thrown under the buss). Questions Geithner Cannot Escape compliments the two posts above and ties it all together. I suggest you read them all and have a hefty bad near your chair in case the overwhelming desire to puke your guts out occurs. Will you be angry. I sure as hell hope so. I guess it is a matter of national security that we need to commit fraud and conceal evidence and lie to cover up how much money was stolen from the taxpayers on Obama's watch. That's right, I said it. This all happened on Obama's watch. Oops, was that a racist statement? that will be the claim du jour in a year or two. Be ready for it. (Hell, is Barry even eligible to be president? Was that the biggest part of the heist? Think about it?)
The best video of the day is AIG Spbpoena from CNBS. This morning Senator Jim Bunning just railed the system. I loved it. This may help with some of your anger management issues after reading all of the above.
Prag Cap brings you Cry Wolf Part 4 - ooops - I mean ROBERT PRECHTER: THE MARKET IS ENTERING THE NEXT BEAR PHASE. Hey, maybe the 4th time is the charm. RP totally chickens out on giving a projection when we all know he could have given a window based on his principles very easily. Me thinks he's been stung one to many times this past year. My thoughts on EWT, it has it's moments of brilliance, but not when Hotchberg is counting. Stick with Kenny or Daneric, they do it for free and run circles around the guys making millions (friggin ass backwards like everything else in this country). Lord I hope they are right this time. Me - I have not called a top yet. I want to this time more than any other. I'll be patient, trade it like the top is in and let form confirm the top. The other thing about EWT that is 100% certain - they will always get the count right AFTER the fact!
If you need a return to econ 101 and want the most creative and entertaining history lesson ever please see Hayek vs. Keynes - Straight Outta Compton from Zero Hedge. It is a classic.
GL out there. It is so comforting to know that our government, the treasury, the fed and the banksters have everything under control and we can trust them implicitly with or future. I'll sleep well tonight!
Thursday, November 19, 2009
What's Going On? (The Video Edition)
Let's get the game started with Senator Bob Corker (R-TN) - Interviewed on CNBS this morning - "We are throwing our country's future down the tubes. This bill is terrible." And, "It has more trickery, lower level, more sinister, than even what happened in the House. $189 billion in the hole." And "We're doing exactly the wrong thing and sending the wrong signals to our partners around the world that are funding our debt." And, "This is all about doing something for the President." And "We look at this as one oif the most backwards stepping thing for our country that we have seen in decades and will hurt out country for generations." Class act, ponzi scheme and new entitlement are other words that popped out of his mouth describing this bill. Please listen and heed his words.This is a classic. I love Corker.
Zero Hedge - Post-Lehman Deja Vu As T-Bill Yields Turn Negative - "The last time Bill yields turned negative (in essence investors paying the Government to hold their money for them) was in the days after the Lehman bankruptcy, when the entire world was about to blow up. So why did Bill yield for January maturity just turn negative once again?" For those of you looking for a top, this may be a clue. LOL, NEGATIVE T-Bill rates for goodness sakes.
Mish -Economists Opposing Fed Audit Are On Fed Payroll - This is a classic. We explored this earlier this year when we discovered that all of the economists are on the Fed's payroll as there really is no need for an economist sice they never get anything right. "That list of economists is anything but unbiased. The conflict of interest is clear, loud, and undeniable." Audit The Fed Needs Your Help ... Again! I could not agree more!
The Market Ticker - Since we are on the subject of auditing the Fed has- Oh Oh - Here Comes Cummings (Fed Audit) - "They are now calling for a FULL CONGRESSIONAL REVIEW of THE ENTIRE FEDERAL RESERVE SYSTEM, including A FULL PUBLIC AUDIT." I'm telling ya now, call your reps now while we have a chance to dave our country. this is the first step in getting our democracy back.
Zero Hedge - Dylan Ratigan Discusses The "Audit The Fed" Support Letter - since we appear to be hammering the subject home right now.
naked capitalism - Via Edward Harrison of Credit Writedowns -Marc Faber: “I don’t think that you’ll see gold below $1,000 per ounce probably ever” - Not sure I agree with the "ever" part of this, but I would agree it will be a long time before any meaningful fall. I went and got the vids from youtube for you. This is 1 of 2.
The Pragmatic Capitalist - CONGRESSMAN BRADY ASKS GEITHNER TO STEP DOWN - If you missed it this morning. Timaaay got grilled again. You gotta love it, but that smug ass punk just threw it back. I got the vid again. You should like this one.
And in a really sad note - UGA VII dies "Uga VII, the University of Georgia football mascot, died unexpectedly Thursday morning in Savannah." at least he got one last good whipping of Auburn before he went. RIP you good Dawg. RIP.
Have a great evening and GL trading.
Zero Hedge - Post-Lehman Deja Vu As T-Bill Yields Turn Negative - "The last time Bill yields turned negative (in essence investors paying the Government to hold their money for them) was in the days after the Lehman bankruptcy, when the entire world was about to blow up. So why did Bill yield for January maturity just turn negative once again?" For those of you looking for a top, this may be a clue. LOL, NEGATIVE T-Bill rates for goodness sakes.
Mish -Economists Opposing Fed Audit Are On Fed Payroll - This is a classic. We explored this earlier this year when we discovered that all of the economists are on the Fed's payroll as there really is no need for an economist sice they never get anything right. "That list of economists is anything but unbiased. The conflict of interest is clear, loud, and undeniable." Audit The Fed Needs Your Help ... Again! I could not agree more!
The Market Ticker - Since we are on the subject of auditing the Fed has- Oh Oh - Here Comes Cummings (Fed Audit) - "They are now calling for a FULL CONGRESSIONAL REVIEW of THE ENTIRE FEDERAL RESERVE SYSTEM, including A FULL PUBLIC AUDIT." I'm telling ya now, call your reps now while we have a chance to dave our country. this is the first step in getting our democracy back.
Zero Hedge - Dylan Ratigan Discusses The "Audit The Fed" Support Letter - since we appear to be hammering the subject home right now.
naked capitalism - Via Edward Harrison of Credit Writedowns -Marc Faber: “I don’t think that you’ll see gold below $1,000 per ounce probably ever” - Not sure I agree with the "ever" part of this, but I would agree it will be a long time before any meaningful fall. I went and got the vids from youtube for you. This is 1 of 2.
The Pragmatic Capitalist - CONGRESSMAN BRADY ASKS GEITHNER TO STEP DOWN - If you missed it this morning. Timaaay got grilled again. You gotta love it, but that smug ass punk just threw it back. I got the vid again. You should like this one.
And in a really sad note - UGA VII dies "Uga VII, the University of Georgia football mascot, died unexpectedly Thursday morning in Savannah." at least he got one last good whipping of Auburn before he went. RIP you good Dawg. RIP.
Have a great evening and GL trading.
Tuesday, November 17, 2009
Just What The Heck Is Going On?
Let's cruz the nuz shall we.
Zero Hedge - Moody's CMBS Delinquency Tracker Hits Decade High - We all now (and hopefully have not forgotten about the impending CRE crash. Yes, that issue still exists, although you may not know or remember as the MSM dose not discuss it and "they" want you to forget about it. Shhh, its a big secret. "So here is the data on the ongoing deterioration in CMBS, courtesy of Moody's, which data merely confirms data previously presented by RealPoint, the GSEs, and anyone else naive enough to care that this data set is relevant in Bubble Market 3000." The data in the report is astounding.
Mish - GE CEO Plays Kiss Ass With Obama - Gotta love Mish when he is on a roll and in this one he does not hold anything back. I have been saying for years now just what Mish is saying, GE is a whore to the administration. "This just goes to show you, if you have enough clout and you are are willing to kiss Obama's ass, he just may be willing to kiss yours. This is the way the game works, so someone may as well be blunt about it." Mish does leave out one important point, CNBS and their government propagandist market cheer leading that is no doubt mandated from the top. How could they present anything bad about their sugar daddy?
naked capitalism -Bank of America Foreclosure Shenanigans? This is some real shit. "For the house I “rent” where the original mortgage was with Countrywide (and then transferred to B of A when B of A bought the property) this is simply a process for getting the house off of B of A’s books and back on Countrywide’s books (now BAC Home Loan Servicing). As I said, it is all charade or smoke-and-mirrors or a shell game." Plus the shell game inflates the existing home sales dramatically. What a crock. The more we dig the more we will find out about the bull shit that CD is allowing to go on all in the name of reflating and saving the TBTS's asses.
FOFOA -Is the Dollar "Good as Tungsten"? I pulled this from the ZH comments section (where lots of good items can be found on a daily basis). This is a story about counterfeit gold. It is a conspiracy based story. I am emphasizing the word STORY. Why am I reporting this? Simply, because I do not personally believe that the gold supplies of any entity or country if audited would stand up to the test. I'm sorry I can not pull the post, but I read somewhere recently that they calculated all the gold ever mined and compared that number to the total reserves and guess what - they did not add up. So, this begs the question, if you say you have more gold than you do, then what do you do? Read on, you conspiracy nuts will love this one.
The Big Picture -Legalizing and Taxing Marijuana Many of my friends will appreciate and visit this link (Do you think I'd "draw" more blog "hits" if I put legalizing marijuana in the labels every post?). Towlie, you getting this?
That is enough for now. GL out there. I plan on posting on the potential for more upside, gold and a potential set up in oil that might send it above $90.
GL trading!
Zero Hedge - Moody's CMBS Delinquency Tracker Hits Decade High - We all now (and hopefully have not forgotten about the impending CRE crash. Yes, that issue still exists, although you may not know or remember as the MSM dose not discuss it and "they" want you to forget about it. Shhh, its a big secret. "So here is the data on the ongoing deterioration in CMBS, courtesy of Moody's, which data merely confirms data previously presented by RealPoint, the GSEs, and anyone else naive enough to care that this data set is relevant in Bubble Market 3000." The data in the report is astounding.
Mish - GE CEO Plays Kiss Ass With Obama - Gotta love Mish when he is on a roll and in this one he does not hold anything back. I have been saying for years now just what Mish is saying, GE is a whore to the administration. "This just goes to show you, if you have enough clout and you are are willing to kiss Obama's ass, he just may be willing to kiss yours. This is the way the game works, so someone may as well be blunt about it." Mish does leave out one important point, CNBS and their government propagandist market cheer leading that is no doubt mandated from the top. How could they present anything bad about their sugar daddy?
naked capitalism -Bank of America Foreclosure Shenanigans? This is some real shit. "For the house I “rent” where the original mortgage was with Countrywide (and then transferred to B of A when B of A bought the property) this is simply a process for getting the house off of B of A’s books and back on Countrywide’s books (now BAC Home Loan Servicing). As I said, it is all charade or smoke-and-mirrors or a shell game." Plus the shell game inflates the existing home sales dramatically. What a crock. The more we dig the more we will find out about the bull shit that CD is allowing to go on all in the name of reflating and saving the TBTS's asses.
FOFOA -Is the Dollar "Good as Tungsten"? I pulled this from the ZH comments section (where lots of good items can be found on a daily basis). This is a story about counterfeit gold. It is a conspiracy based story. I am emphasizing the word STORY. Why am I reporting this? Simply, because I do not personally believe that the gold supplies of any entity or country if audited would stand up to the test. I'm sorry I can not pull the post, but I read somewhere recently that they calculated all the gold ever mined and compared that number to the total reserves and guess what - they did not add up. So, this begs the question, if you say you have more gold than you do, then what do you do? Read on, you conspiracy nuts will love this one.
The Big Picture -Legalizing and Taxing Marijuana Many of my friends will appreciate and visit this link (Do you think I'd "draw" more blog "hits" if I put legalizing marijuana in the labels every post?). Towlie, you getting this?
That is enough for now. GL out there. I plan on posting on the potential for more upside, gold and a potential set up in oil that might send it above $90.
GL trading!
Monday, November 2, 2009
Aidit The Fed Should Not Be Dead!
I'm an ounce shy of a rant. I really should be imploding right now. Mel who? Uh, how bout 'ol Mel's website address - http://watt.house.gov/ - watt house? Give me a break. I would comment on that, but Jimmy Carter would crawl all up my butt saying I'm racist. In this time of strife and injustice look no further than this person's actions surrounding this bill, and you'll know where the representative from the bank laden state of North Carolina's heart lies. It lies not with his constituents, or with the best interest of the nation but with his wallet. This is simply insane. It is absolutely an insane action at this time.
Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says from Bloomberg has, “There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
Mish has Debt Slave Bait and Audit the Fed Bill Gutted: What You Can Do?. Folks this issue is so important that you have to act. Read this post and GET INVOLVED!
A Less Than Opaque Look At Mel Watt's Motivations To Kill The "Audit The Fed" Bill from Zero Hedge, "There has been lots of speculation on why Representative Mel Watt has done his best to make sure that the Audit the Fed bill will be gutted, and why the Congressman is willing to promote the same irresponsible and unaccountable bubble-inflating behavior that got us to the current Fed-sponsored, bubble-reflation attempt, which is practically guaranteed to end much worse than just a few Goldman competitor banks imploding here and there."
Gotta keep bangin on the Fed folks. in the Zero Hedge post Darrell Issa's Letter To The NY Fed's Bill Dudley Demanding AIG Bailout Disclosure ZH points out, "the letter penned by California Congressman Darrell Issa to New York Fed President Bill Dudley, demanding much more information on the Fed's decision regarding AIG. Issa's quote that "behind closed doors and with no approval from Congress, the FRBNY may have added an additional $13 billion of debt on the backs of taxpayers. These allegations, if true, amount to nothing less than a backdoor bailout of AIG’s creditors, including Goldman Sachs, Merrill Lynch, Société Générale and Deutsche Bank" leaves many open questions as to the true motives of the NY Fed and the Federal Reserve system overall." Please do me a favor and don't let this link Unmask The Fed that I keep posting go to waste.
Please get involved.
Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says from Bloomberg has, “There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”
Mish has Debt Slave Bait and Audit the Fed Bill Gutted: What You Can Do?. Folks this issue is so important that you have to act. Read this post and GET INVOLVED!
A Less Than Opaque Look At Mel Watt's Motivations To Kill The "Audit The Fed" Bill from Zero Hedge, "There has been lots of speculation on why Representative Mel Watt has done his best to make sure that the Audit the Fed bill will be gutted, and why the Congressman is willing to promote the same irresponsible and unaccountable bubble-inflating behavior that got us to the current Fed-sponsored, bubble-reflation attempt, which is practically guaranteed to end much worse than just a few Goldman competitor banks imploding here and there."
Gotta keep bangin on the Fed folks. in the Zero Hedge post Darrell Issa's Letter To The NY Fed's Bill Dudley Demanding AIG Bailout Disclosure ZH points out, "the letter penned by California Congressman Darrell Issa to New York Fed President Bill Dudley, demanding much more information on the Fed's decision regarding AIG. Issa's quote that "behind closed doors and with no approval from Congress, the FRBNY may have added an additional $13 billion of debt on the backs of taxpayers. These allegations, if true, amount to nothing less than a backdoor bailout of AIG’s creditors, including Goldman Sachs, Merrill Lynch, Société Générale and Deutsche Bank" leaves many open questions as to the true motives of the NY Fed and the Federal Reserve system overall." Please do me a favor and don't let this link Unmask The Fed that I keep posting go to waste.
Please get involved.
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