Thread: The eleventh hour?

Originally Posted by sarend

Remembert a few things and look back on one brilliant man.

#1. The Constitution says that Congress shall not delegat any of its powers

#2. The Federal Reserve Bank is not part of the governement. (look at point number one)

#3. Berneke stated in a public speech in the early 2000's (before his ascendancy to Chairman) that the Fed was the reason for all the financial troubles in the US to include the Great Depression.

#4. Thomas Jefferson said in 1802:
'I believe that banking institutions are more dangerous to our liberties
than standing armies. If the American people ever allow private banks to
control the issue of their currency, first by inflation, then by deflation,
the banks and corporations that will grow up around the banks will deprive
the people of all property until their children wake-up homeless on the
continent their fathers conquered.'

They can do whatever they want. The majority of Americans polled do not want the Obamacare, but they are going to do it anyway. They [polititions] are elists--on both sides--and they will do whatever they want.

On that subject

On March 11 2008, the Fed had an unannounced meeting with the Big 5 minus Bear Stearns. That meeting was discovered after the fact through an unrelated FOIA request. The topic of that meeting is undisclosed.

On the same day, after the meeting, somebody did a "naked short sell" on Bear Stearns... betting $1.7M that the stock would be worth half its then-current price within 9 days. The next morning, there was a bank run on Bear Stearns and the stock plummeted. On March 17 2008, the person doing the bet cashed out $270M on the operation. Bear Stearns was forced to sell itself to JPMorgan Chase, who had received $29bn from the Fed specifically to buy the investment bank.

6 months later, virtually the same scenario happened with Lehman Brothers. This is considered the start of the subprime/finance meltdown.

To date, the SEC hasn't been able to identify the man even after several requests from the Senate Banking Committee. The same SEC that has been known to send auditors abroad for a $2000 irregularity.