No wonder The Fed was threatening Congress when asked about audits - it might expose the underlying realities of something like this:
European banks including Societe Generale SA and BNP Paribas SA hold almost $200 billion in guarantees sold by New York-based AIG allowing the lenders to reduce the capital required for loss reserves. The firms may keep the contracts to hedge against declining assets rather than canceling them as AIG said it expects the banks to do, according to David Havens, managing director at investment bank Hexagon Securities LLC.
$200 billion dollars for foreign banks that we, the taxpayer, have now backstopped through The Fed with zero oversight or approval by Congress?
These aren't even American businesses!
The average weighted length of the European swaps protecting residential loans is more than 25 years, while the span tied to corporate loans is about 6 years, AIG said in a regulatory filing. Contracts covering corporate loans in the Netherlands extend almost 45 years, and the swaps on mortgages in Denmark, France and Germany mature in more than 30 years.
So now we, the American Taxpayer, are backstopping mortgages in Netherlands, Denmark, France and Germany?
Remember this?
Now you know why, and what The Fed and Treasury have done - in black and white.
You have been robbed America, and now they intend to steal $200 billion more - to bail out not Americans but foreigners.
Tell me again why we're doing this, and why people aren't in prison?
Jason: I strongly believe that by 2013 the Federal Reserve will be audited and the numbers hidden across the globe in such way will be revealed. The amount will not be in the hundreds of billions US taxpayers are shackled to in the form of debt issuance from the Fed, but measured in the trillions. This was the biggest heist in global history. The American people will then have a painful choice. Service the debt in an environment of continued deterioration of there quality of life or default. Default will create serious geopolitical consequences and large scale military misadventure. In the end, I believe after it is all said and done, the American citizenship as well as other nations will demand Nuremberg style trials for a few dozen men.
4 Comments
bonezone
Assuming this is all true and aside from some paranoia on this discussion board, most of the posts are well-researched and documented, then how do we truly get the word out? It's easy to label this forum as being made up of "right-wing radicals" and "anti-government kooks". Same thing said here about all the "socialists, Marxists, etc."
We need an intelligent debate and review but not many people care.
Who is the most prominent person in Hollywood that would promote the truth about these issues? People pay attention to Sean Penn, Susan Sarandon, etc. and California elected Arnold (still shocks me). Where is the celebrity power to get on TMZ or in People magazine to cover this?
I'm convinced, after watching the telegenic but inept Sarah Palin woo the "base" and the well-spoken but entirely unqualified Barack Obama win the presidency, that packaging is the ONLY thing that matters.
The conservative, constitutional movement needs a celebrity.....
mjs034
AIG is for all intents and purposes a government entity. When was the last time a government entity was abolished? Politcally, it is all but impossible.
So AIG will do whatever it wants. Sure, some of the top brass will be replaced from time to time but AIG will go on, kicking the taxpayer in the ass.