Tuesday, December 07, 2010

More Mind Boggling Criminality

                                                                 From The Ramparts
                                                                Junious Ricardo Stanton
                                                          More Mind Boggling Criminality    

    “The US Federal Reserve Board on Wednesday released documents on emergency measures it took between 2007 and 2010, using taxpayer funds, to bail out major financial firms in the US and around the world. The sums involved are staggering. Fed bailout loans outstanding reached a high of $3.3 trillion, but the cumulative amount of cash funneled by the US central bank to banks, hedge funds and major industrial corporations reached the tens of trillions of dollars.” www.wsws.org/articles/2010/dec2010/pers-d04.shtm

   I’ve been telling you about the economic collapse and the massive fraud and criminality involved in the global financial implosion for years now. It’s not over, it’s all  part of an ongoing diabolical plan to devastate humanity. Every day I see additional evidence the Kleptocrats are stone cold psychopaths hellbent on wrecking social, political and economic havoc on the entire planet. Some people believe this is being done to justify the ruling oligopoly’s global fascist agenda. Their agenda calls for global depopulation on a massive scale to be accomplished using  bio-chemical warfare, the introduction of frankenfoods into the food and retail chains ,incessant  wars, famine, mind control, wide scale ecological manipulation and disruption of the natural order. If you doubt the upper crust blue blood eugenics crowd is seriously plotting the demise of humanity read the National Security Study Memorandum NSSM 2000 also called the Kissinger Report. I have provided a link where you can download  and read it. http://www.population-security.org/28-APP2.html
  
 Another part of their fiendish plan is to reduce us to impoverished serfs, debt  peons and groveling  wage slaves inextricably chained to their debt based economic system. If you have trouble wrapping your mind around what I am saying, think of the slavery system endured by our ancestors than combine that with the post slavery and reconstruction era with its system of repressive day to day existence, corrupt courts and corporate interests running the convict leasing program, onerous debt and designed poverty via venal sharecropping and mining systems and the vicious and ruthless police state designed to keep us in fear and degradation in this system simultaneously in real time. Then multiply that by a trillion. This is what we in the US have to look forward to as the psychopathic elites roll out their program, a program designed now for black and white folks alike.
  
 On the economic front, the banksters turned Wall Street into a giant casino. Only in this case the odds are rigged even higher to favor the house (elites) given their massive insider trading and crass manipulation of the system. Recent revelations about the inner working of the Federal Reserve Bank have shocking implications for ordinary people like us. The wildly unregulated, unrestrained and highly leveraged (under collateralized) insurance betting schemes (credit default swaps) by the Hedge Funds and investment banking giants using overpriced commercial real estate and doggy home mortgages has totally bankrupted the global financial system and the governments that supported them.
  
Only they’re not telling us the extent of their losses and insolvency. Needless to say we are in a major crisis. However the culprits are not being left to their own KARMA; instead we the people were set up as the marks and suckers to bail them out. “Every major Wall Street bank was on the Fed dole, as were giant companies including General Electric and Verizon Communications. The Fed ran nearly a dozen separate bailout programs which together eclipsed by far the Treasury Department's $700 billion Troubled Asset Relief Program―the program that handed over billions in public funds to the banks in 2008 and 2009. In comparison to the amounts funneled by the Fed to US financial institutions, the Obama administration's $787 billion stimulus package was a drop in the bucket. These vast sums were loaned out at rock-bottom interest without any strings attached. The banks and corporations that benefitted were not even obliged to provide an account of what they did with the money. The entire purpose of the operation was to use public funds to cover the gambling losses of the American financial aristocracy, and create the conditions for the financiers and speculators to make even more money. All of the 21,000 transactions cited in the Fed documents―released under a provision included, over the Fed's objections, in this year's financial regulatory overhaul bill―were carried out in secret. The unelected central bank operated without any congressional mandate or oversight” http://www.wsws.org/articles/2010/dec2010/pers-d04.shtml
  
 The collusion between the financial oligopoly and their bought and paid for puppets in Congress and the White House is beyond fraudulent it is treasonous, a crime against humanity. “The very people most responsible for crashing the system, were then rewarded with trillions of our dollars. This gave that select group of insiders unlimited power to seize control of assets and have unprecedented leverage over almost everything within their economies - crony capitalism on steroids.  This was a hostile world takeover orchestrated through economic attacks by a very small group of unelected global bankers. They paralyzed the system, then were given the power to recreate it according to their own desires. No free market, no democracy of any kind. All done in secrecy. In the process, they gave themselves all-time record-breaking bonuses and impoverished tens of millions of people - they have put into motion a system that will inevitably collapse again and utterly destroy the very existence of what is left of an economic middle class.  That is not hyperbole. That is what happened. We are talking about trillions of dollars secretly pumped into global banks, handpicked by a small select group of bankers themselves. All for the benefit of those bankers, and at the expense of everyone else. People can’t even comprehend what that means and the severe consequences that it entails, which we have only just begun to experience.” Wall Street’s Pentagon Papers: Biggest Financial Scam in World dub $12.3 Trillion in Taxpayer Money David DeGraw  http://www.globalresearch.ca/index.php?context=va&aid=22291
  
 This scam makes all others pale in comparison. It is the greatest transfer of wealth the world has ever seen, bigger than what the Russian “oligarches” did to the Russian people, bigger than the US Savings and Loan fiasco and bigger than Enron, bigger than what the banksters did to Argentina a few year ago. It is bigger than what the IMF and World Bank routinely do to third world nations. We’re talking about humongous; trillions and trillions of dollars that will impact each one of us in a myriad of ways. For some of us it was with the subprime mortgage scam, for other it was the refi scam , some lost their home others lost their life savings in the stock market but for most of the world it is the fact that over leveraged hedge funds, insurance companies and banks have colluded to dupe us into shoring up their losses and making them obscenely rich in the process!
  
Under the lamp of truth the Fed documents reveal a level of callousness, reckless cunning and manipulation unseen at any time before. These guys dubbed themselves “the smartest guys in the room.” On one level such a narcissistic self-image would be funny given how disastrously this has played out. But on another level, it is quite telling and revealing about the moral rot and corruption endemic within the US system. Those who fashioned themselves the smartest guys in the room put the Western financial system on the brink of collapse and social and political catastrophe but they were astute enough to rig the game so we paid for their golden parachutes. Amazing! What’s even more amazing is, it appears they are going to get away with it.
                                   -30-


               

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