Federal Reserve - Bash the Bad Guys

The Federal Reserve ("Fed") is a private company that "manages" our country's money (why do we need a private money manager, anyway?). This is like having a broker that is dishonest managing your portfolio. How long would you keep him? Not very long.

I will post many articles and videos about the Fed but it should be clear that we do not need these crooks managing our money. They take fees, they lend our money out to foreign countries and they provide cover for foreign investors. They manipulate the market for the benefit of the wealthy. We, the taxpayers, pay the bill for everything including their losses.

My first link at right says a lot. Watch and listen to the Inspector General dance (an employee of the Federal Government who has overisght responsibility over the Fed) as she is unable to answer Alan Grayson's questions pertaining to major losses at the Fed totaling $9 trillion. She apparently has no clue what is going on and is simply awaiting her private industry job as she looks forward to leaving this job.

Why don't they question Ben Bernake on this issue when he shows up for his periodic meeting with Congress?

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Quantitative Easing
You may ask yourself, what in the World is "Quantitative Easing?"
Well, I did and when I looked up the meaning, I did not like what I saw.

Quantitative Easing is when the Fed (our Central bank) buys investments with our money to try to stimulate the economy.

Who actually "benefits" and who "loses" from this irregular activity?

The banks that sell these investmenets to the Fed clearly benefit. They get to sell $80 Billion worth of "Stuff" each month to the Fed. It is like owning a restaurant where every day an endless line of customers are waiting to be seated in yout restaurant. Obviously, you would be very happy selling them breakfast, lunch, and dinner, wouldn't you?

Well, these banks have never had it this good, have they?

We are told that this benefits us somehow. Hmmmmm.....  It is highly suspect that we, the taxpayers, benefit at all from this activity.

First of all, we (the USA) do not have the money to go and buy these products that the Fed buys on our behalf so they borrow the money (create money) with which to go on these buying sprees. So unless we make any gains from these investments (which is suspect), we are paying the interest on these purchases much like you would with your credit card during the holidays each year.

Except, this isn't done once per year by the Fed, this is done every month. They buy $80 Billion per month on our behalf with money we do not have. The interest on $80 Billion per month at 6% is $400 Million per month that we have to pay back. This is being done to "prop up" these financial institutions. This amounts to $4.8 Billion per year in interest.

By the way, if the investments that they purchase lose money, we pay the bill while they risk nothing.

What in the world do we get out of this whacko plan that the Fed has enacted? Nada, zilch, Zero. Except, we get to help fund the banks with more money to play with. They do not necessarily loan this money out to small businesses or anyone (like they are supposed to in order to stimulate the economy). But rather, they just get bigger and bigger with us funding there greedy addiction.

Worse, yet, many of these banks are foreign interests that do absolutely nothing to help America.

Wow, what a deal. You can't make this stuff up. This is modern day white collar robbery by the banks and the Fed.

Remember, the Fed also earns a fee for handling these transactions. If it is just 1/2% fee it amounts to $400 Million per month in fees. Even if the fees are 1/10 of what I say, the cost to us is $40 Million per month.

So, we have the Fed, who directly benefits from buying things we do not need and cannot afford and earning a fee on top of it.

We pay the fees and the interest and they make the money. This is the Twilight Zone.

The Fed has got to go. End the Fed. We do not need them. They are banksters (white collar gangsters).