HOW THE FED HAS SCREWED YOUR GRANDMOTHER

The only way a society can advance economically over the long haul is through savings and investment in capital. An economy built upon an ever growing mountain of debt and consumption is destined to decline. We have passed the point of no return. Those who control the levers of our financial system realized in 2008 their pillaging of the national wealth through luring the masses into debt had reached a peak. The only way for the Fed to sustain their ponzi scheme for a while longer has been to reduce short term interest rates to zero while buying up longer term toxic mortgages of their owner Wall Street criminal banks. 

Despite Bernanke’s pitiful denials, they have thrown senior citizens and savers under the bus. Real returns on short term Treasuries, money market funds and savings accounts have been negative for the last six years and ten out of the last thirteen years. And this is using the fake manipulated CPI figures. Using a a real inflation rate of 5% to 10% shows a devastating impact on your grandmother and tens of millions of risk averse senior citizens. Every day since 2008 your savings have lost money.

The Fed, Washington politicians, Wall Street bankers, and corporate titans don’t give a fuck about you or your grandmother. They don’t give a fuck about how to sustain an economic system over the long haul. They are greedy sociopathic fuckers who want everything you have and they want it now. George Carlin was right.

“You know what they want? They want obedient workers. Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shitty jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it. They’ll get it all from you sooner or later cause they own this fucking place! It’s a big club, and you ain’t in it! You, and I, are not in the big club.

By the way, it’s the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long beating you over the head with their media telling you what to believe, what to think and what to buy. The table has tilted folks. The game is rigged and nobody seems to notice. Nobody seems to care! Good honest hard-working people; white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means, continue to elect these rich cock suckers who don’t give a fuck about you….they don’t give a fuck about you… they don’t give a FUCK about you.

They don’t care about you at all… at all… AT ALL. And nobody seems to notice. Nobody seems to care. Thats what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick thats being jammed up their assholes everyday, because the owners of this country know the truth.

It’s called the American Dream,because you have to be asleep to believe it.”

George Carlin

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olde reb
olde reb

SCAM OF THE CENTURY

OR

CREATING BOOK-ENTRY (FIAT) MONEY
AND WHAT HAPPENS WITH IT

Congress can pay for federal expenses with funds collected from taxes, but Congress is never satisfied with this pittance. The desire to buy votes and solicit campaign contributions from special interest groups induces congress-critters to spend more. This is identified as deficit spending. To create this book entry money requires the assistance of the Federal Reserve.

Congress will give the Fed a Treasury security (bill, bond, or note) and the Federal Reserve Bank of New York (FRBNY) will accept the document as an asset. The Fed will then establish a line of credit for the government (a book entry) in the same amount and list the liability as Federal Reserve Notes. Voila !! Fiat money has just been created for Congress to spend.

The public sees the government spend the money and watches the National Debt increase. Nobody watches the one trillion dollars in T-securities that are currently received by the FRBNY annually for deficit spending.

The Fed and the government (cameo appearance) jointly auction about $7 trillion in T-securities to roll over previously issued securities. The deficit spending securities are added as a percentage to the roll-over securities for a total of approximately $8 trillion.

The FRBNY receives the bulk of receipts and has exclusive control of disbursements of the auction accounts. Ref. 31 CFR 375.3.   These accounts have never been publicly audited nor are they reported to Congress as required by law.

Money from the roll-over sales are credited to the government. The money is disbursed to the Primary Dealers who are tasked with collecting the called or maturing T-securities. The New York City Primary Dealers collect the bulk of redeemed securities. Since the money from the auction for roll-over is credited to the government, there is no increase in the National Debt nor is there any increase in the amount of money in circulation (inflation).

Money from the deficit spending sales cannot be credited to the government. If it were otherwise, there would be no increase in the National Debt nor would there be any increase in the amount of money in circulation (inflation).

Where does the money go ??   We have never been told.   We can only assume it is merged with the payments to the Primary Dealers for their expenses in collecting roll-over securities.

Is that profit for the Primary Dealers ?   Well, we are told deficit spending money is received as a “loan” from the Fed. But if any consideration had been received for the loan, there would not be an increase in the amount of money in circulation (inflation) nor would there be any increase in the National Debt. It cannot be repaying a loan from the Fed. Besides, there is no documentation that any value (i.e., consideration) has been received from any entity. It appears to be clear profit.

Does profit of the Fed belong to the government ??   Yes, it does. The 1913 charter legislation specifically stated the profit of the Fed belongs to the government.

Is concealing money that belongs to the government called embezzlement ??
Well, it sure looks like it to me—but only if you get caught. So, above all, do not tell Congress to audit the accounts. (Congress’ major campaign contributors are the NY bankers and the firms they control.)

Montefrío
Montefrío

Well done, Olde Reb! Unless and until this beast is destroyed and with it the “tithe” of income tax that fuels all the worthless, non-productive and indeed destructive government nonsense meant to increase the assumption of unnecessary and unconstitutional debt, those who consent to this system can have no hope of restoring a modicum of decency to society nor of bettering their own lot unless they submit to their servitude at the hands of the banking and allied elites.

Westcoaster
Westcoaster

@Admin: My wife was playing that Carlin utube clip for us probably about the same time you posted this. It’s an oldie-but-a-goodie and still oh-so true!

ragman
ragman

olde reb: good one! No one seem to give a shit because we still have it too good. Negro ball on weekends, F150 in the driveway and cheap gas at the station, a porker to bang once in a while, and plenty of food. The last one is the most important because hunger causes revolution. I never appreciated Carlin while he was alive. Admin opened my eyes to a real treasure.

geo3
geo3

Recall my former in-laws reaping 15% on their CDs in the 1980s. Lived off the interest. Of course my mortgage rate was 12%, but we had Disco,,,

MuckAbout

They haven’t screwed my Grandmother – they’ve screwed me. Of course, having worked overseas most of my career(s) to keep from paying taxes, I’m a pretty good slug myself.

MA

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