GOVERNMENT & MEDIA RIDICULE

..Bankers are being rescued from student loans going bad. Bankers made loans to students only after the government guaranteed their payment. The loans stipulated they could not be discharged in bankruptcy. Bankers are wanting their pound of flesh. The taxpayers are being burdened with the debt that students are walking away from. Deficit spending securities is the government’s only method to obtain value.

When the government wants money it does not have, the U.S. Treasury, with the approval of Congress, sends a deficit-spending Treasury Security [dss] to the Federal Reserve Bank of New York [Bank]. The Bank, acting as a fiscal agent for the government, will credit a government account with the same number of zeros as the dss. Everybody knows this as book-entry creation of money. The Treasury draws checks on the account to pay government suppliers and the suppliers deposit the checks in Anybank in Anytown. New value is thus added into circulation as inflation. If the supplier wants cash to buy groceries, Anybank can buy Bennies from Bank for face value. The Fed had bought the Bennies from the U.S. Mint for the cost of printing [about 15-20 cents each]. The cost of printing is listed in The Fed’s Annual Report to Congress as an expense. In years past, each denomination was listed separately.

So much for how book-entry credit creates inflation in the market. Let’s look at the Bank that has received the dss. The Bank wants to cash it in.

The Bank also has a parallel responsibility to redeem Treasury securities issued in prior years. They auction about $14 trillion new securities annually receiving government money for this purpose. The funds go in large part to Primary Dealers for their task in collecting the securities. The Bank has exclusive authority for disbursement of auction funds and any related operation they wish to claim. Ref. 31 CFR #375.3. The auction accounts have never been audited.

Also, as part of the auctioned securities, is a 5%-15% component for dss. TreasuryDirect Institutional tabulations historically identified this component as “new cash.” If these funds went to the government, it would negate any increase in the National Debt and would eliminate any inflation. There is no government record that receives the funds.

The funds must go to a private entity. For each annual deficit of one trillion, the disappearance is $4 billion DAILY. The cabal that created the Federal Reserve is a suspect destination. Creation of a closely held corporation that does not have to file reports with the SEC [such as FRBOG, Inc.] appears to be the only viable destination. If the funds were visible as profit, they would belong to the government by charter stipulation. Such funds could be covertly laundered in BlackRock, Vanguard, or be used by Kermit Roosevelt, George Soros, and John Bolton for coups, or used for government corruption, or a multitude of other globalist projects.

The GAO has standing authority to audit any handling of government money. Also, any official record of the Bank is subject to FOIA production. Ref. Bloomberg v. Fed, 2010. Money hidden from the government would appear to be embezzlement. If an action could be styled as a whistle-blower suit, the reward is lucrative.

When the government [taxpayers] pay on student loans, the bankers will get their loans paid by the book-entry credit. Wall Street bankers will also cash out the dss the Treasury sent to them; i.e., it is a double ripoff.

I hope this enlightens your understanding of the Fed. It is the owners of the BOG, Inc. that are ripping off the taxpayers, in major part, for globalism at more than $4 billion DAILY.

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