A Third Party Take On News That Federal Reserve Gave Out Secret Loans

Kimberly Wilder writes: Below is an opinion piece I wrote for my family blog, onthewilderside. It has links to archival, third party discussion about the need to audit the Federal Reserve.

A fascinating piece at IBTimes. New information shows that in addition to the TARP funds and bank bailout that Americans know about, there were secret loans from the Federal Reserve to private banks. And, did you know that our US Federal Reserve secretly loaned money to foreign banks? What is that about? My comments on the article (and its status quo bias) are below. A January 2011 video with Ron Paul and Ralph Nader about the Federal Reserve is: here.

(excerpt from) International Business Times
Federal Reserve Lent Private Banks $1.2 Trillion During Financial Crisis’ Acute Stage
IBTimes Staff Reporter | August 21, 2011 9:10 PM EDT

The U.S. Federal Reserve lent private banks about $1.2 trillion in order to maintain credit market liquidity, bank function, and prevent the U.S. economy from plunging in to a depression.

The largest borrower was Morgan Stanley (MS), which received as much as $107.3 billion in loans, Bloomberg News reported Sunday, while Citigroup (C) received $99.5 billion, and the Bank of America (BAC) received $91.4 billion. Bloomberg News obtained the information through Freedom of Information Act requests.

The loan totals far surpass the $160 billion in public bailouts the top 10 banks received from the U.S. Treasury Department. Up until now, the Federal Reserve action was not made public…

What’s more, half of the Federal Reserve’s top 30 borrowers, as ranked by peak balances, were European firms…

My comments, as posted at the IBTimes website:

This “article” is so bogus. It is at least an opinion piece, if not a propaganda piece for the bankers, Washington, and the status quo. It is also comical to believe that Bloomberg news is wonderful and successful for filing the Freedom of Information Act which led to this bank loan news. Ron Paul has been working on this project for years. And, the fact that Ron Paul’s HR 459 bill to audit the Federal Reserve is picking up sponsor after sponsor is probably why the Federal Reserve decided to answer this request, and answer to people more fully than it has in the past. The information is fascinating. Get our US taxpayer money back from the foreign banks! Fire the Fed Chairman and Treasury Secretary. Then, let’s rethink the Federal Reserve.

Related information:

Ron Paul website: here

Ralph Nader website: here

“Audit The Federal Reserve supported by Bernie Sanders and Ron Paul”  from May 2010: here.

Archival videos of a press conference from September 10, 2008. Ron Paul is standing up with Presidential candidates from third parties who had endorsed a set of principles. The principles were endorsed by Ron Paul, Ralph Nader, Cynthia McKinney, and Chuck Baldwin who all attended the press conference.

Video below: Dr. Ron Paul speaks
Lists 4 principles the candidates agree on
at 3 min 35 sec – Request audit of Federal Reserve

Video below: Ralph Nader speaks
Four areas of agreement
at 1 min 43 sec – Nader on Federal Reserve

6 thoughts on “A Third Party Take On News That Federal Reserve Gave Out Secret Loans

  1. Michael H. Wilson

    There is a lot of confusing information around about the Fed and what they are supposed to do and how they do it. Maybe Chuck can clue some in if he has the time. If he doesn’t I suggest picking up a copy of Richard Timberlake’s book Monetary Policy in the United States and read it. That would be very beneficial for any candidate who is arguing that we need to adopt a gold policy.

  2. Let the T-Rex of Talk Radio Educate U

    *To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

    *Section. 10.

    No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; …

    ^

    “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” – James Madison

    “I sincerely believe… that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” –Thomas Jefferson to John Taylor, 1816. ME 15:23

    “Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges… which are employed altogether for their benefit.” – Andrew Jackson

    “If Congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.” – Andrew Jackson

    “You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.” – Andrew Jackson, 1828

    “I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. … corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed.” ­- Abraham Lincoln, Nov. 21, 1864

    “Money power denounces, as public enemies, all who question its methods or throw light upon its crimes.” – William Jennings Bryan – US Congressman (1891-1895), US Secretary of State (1913-1915)

    “With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.” – Fredrich August von Hayek

    “Paper money eventually returns to its intrinsic value — zero.” – Voltaire

    “But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” – George Washington

    and on and on and on…

    as a libertarian I have embraced the principle to resist, fight, and/or oppose FORCE and FRAUD in all forms as long as I draw breath………

    Friends, remember the TRUTH as long as you draw breath —>>>

    “Let me issue and control a nation’s money and I care not who writes the laws.” – Mayer Amschel Rothschild

    “I care not what puppet is placed on the throne of England to rule the Empire, …The man that controls Britain’s money supply controls the British Empire. And I control the money supply.” – Nathan Rothschild

    “There is but one power in Europe, and that is Rothschild.” – Werner Sombart 1841, French Journalist

    “The Rothschilds have conquered the world more thoroughly, more cunningly, and much more lastingly than all the Caesars before…” – Author Frederic Morton

    “Those who create and issue money and credit direct the policies of government and hold in the hollow of their hands the destiny of the people.” – Reginald McKenna (1863-1943) British Chancellor of Exchequer

    “Who controls money controls the world.” – Henry Kissinger

    ^ – ^ – ^ – ^ – ^

    Lord Rothschild’s – “Puppets” !? – LOL; that’s what they are my friends !

    Hicks on Politics: http://www.youtube.com/watch?v=nXpdJLJqG9U&feature=related

    Bush: http://www.youtube.com/watch?v=X7GjfyTfjPk&NR=1&feature=fvwp

  3. phillies democrat

    Is phillies secretly a democrat/green ? What is the difference between him and the left?

  4. Not A Liberal Not A Marxist

    You maybe right? When did phillies join libertarians? What drew him to join?

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