Fall Of The Republic: The Presidency Of Barack H, Obama Page #8

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Foreign banks:
Socit Gnrale of France,

about 10 billion for a French bank; Deutsche Bank of Germany...

Did Deutsche Bank need the money?

How much did did they get from the bailout?

Well, they told us they got 12 billion from the bailout.

...and Barclay's Bank of Britain, 10 billion.

So, you're up to almost 50 billion dollars to bail out

a series of foreign banks that were

derivatives counterparties of AIG, plus Goldman Sachs.

This is the biggest swindle

-- not only in the history of the United States --

this is the biggest swindle and transfer of wealth

in the history of the western countries.

...and we've seen all these cronies from Wall Street,

with the combination to the vaults around the country and

they've just looted the Treasury and the banks and,

and the securities industry dry.

This is, by probably an order of magnitude,

the biggest fraud in... in history.

Over the next 10 months, 23.7 trillion was stolen

from the US Treasury.

The gentleman from North Carolina, Mr. McHenry.

Thank you, Mr. Chairman, and the tune of

for the bailouts is quite striking.

The calculation right now is that with Obama,

we've got 24 trillion dollars as a line of credit

available only to Wall Street banks, insurance companies,

credit cards, mutual fund companies and others,

but only financial institutions.

from the Federal Deposit Insurance Corporation and from

the Treasury in the form of the bailout of October, 2008.

The Federal Reserve,

the private holding company for the offshore banks,

arrogantly told Congress and the American people

that it was none of their business what

the private banks did with the people's money.

One very interestingly exchange:

Senator Bernie Sanders of Vermont asking Bernanke,

"We have given upwards of two trillion dollars

to various financial institutions.

You've gotta tell me, where did the money go?"

And Bernanke simply stonewalls and says,

"I won't tell you."

And who got the money?

Hundreds and hundreds of banks; any bank or...

that has access to the US Federal Reserve system.

Can you tell us who they are?

No.

Do you have to be a large, greedy, reckless

financial institution to apply for these monies?

There is no subsidy. There is no capital involved.

There is no gift involved. It is a collateralized,

short-term liquid loan that is both over-collateralized

and is recourse to the company itself.

We have never lost a penny doing it.

And how can other institutions make...,

get... get... those loans as well?

According to the law,

we are supposed to be lending to depository institutions...

Let me just say this, Mr. Chairman,

I have a hard time understanding how

you have put 2.2 trillion dollars at risk without

making those names available, those institutions public,

and we're gonna introduce legislation today, by the way,

to demand that you do that.

It is unacceptable to me that that goes on.

Behind me the Federal Reserve is probably the

least transparent agency in the federal government.

One could even argue that the Central Intelligence Agency

is more transparent than the Federal Reserve.

The fact is, is that the American people want

to know more of the "secrets of the temple",

as the book was, before you were born:

The Secrets of the Temple.

The Fed, as you know, is just a monopoly by the bankers.

This is simply putting the foxes in charge of the hen house.

Personally, I'd be in favor of Congress

just nationalizing the Fed.

And... and getting the bankers out of there.

They're... they're, you know, they're just stealing

from the American people.

Put it directly in the hands of Congress and...

and let Congress decide rather than

this cabal of bankers deciding their own rates of profit

at the expense of the American people.

Since the Federal Reserve's creation in 1913,

patriots have labored tirelessly to alert

the American people to the true nature of the Federal Reserve.

Throughout its 90-plus year history,

most Americans falsely believed that

the Federal Reserve was a government agency.

But today, scientific opinion polls show

the vast majority of the public is aware of the fact

that the Federal Reserve is a front company

for an offshore private banking cartel that dominates,

not just the United States,

but almost every other nation on earth.

It's never been written about in any book that I've

found as to who gave these guys the authority or

permission to be the international bankers for the world.

Why would you even need international bankers?

Why would any government agree to... to use them?

Why would you need to use them?

Why can't any country create its own money?

That tells you there was already an existing

superstructure, already in exist...

in existence may be two, three hundred years ago

to give these guys permission to somehow be

the overlords of all money for all countries.

Polls also reveal that 75% of Americans demand

a public audit of the secretive organization.

By the summer of 2009, Congressman Ron Paul's bill

to audit the Fed had gained

more than 280 sponsors in the House.

But the private Fed's high-powered lobbyists

were able to block a vote on the bill in the Senate.

That only piqued the public's interest.

I have another amendment to...

I have been informed by the...

that the majority plans to block consideration of

this amendment, which is number 1367 regarding

the transparency at the Federal Reserve.

Madame President, I'd like to call up amendment 1367.

Without objection, the clerk will report.

The senator from South Carolina, Mr. DeMint,

proposes amendment number 1367.

Senator from Nebraska.

I make a point of order against the DeMint amendment,

that it's legislation on appropriations.

Madame President?

The point of order is well taken.

The amendment...

I... I regret the objection.

The amendment falls.

The people began asking themselves,

"Why couldn't there be an audit of the Federal Reserve?"

The Fed has never once been audited

in the whole period of time,

in the almost 90-some-odd years

that the Fed has been around;

the most powerful agency and... independent agency,

it is never once been audited.

This is an absolute crime against

the freedoms of this country.

Do you think it would cause problems

for the Fed or for the economy

if... if that legislation was to pass?

My concern about the legislation is that if the GAO

is auditing, not only the operational aspects

of our programs and the details of the programs,

but is making judgments about our policy decisions

that would effectively be a takeover

of monetary policy by the Congress.

Is that your position, that this bill,

if it were to be passed, would interfere

directly with interest rates... setting interest rates?

If we were to raise interest rates at a meeting,

and someone in the Congress didn't like that, and said,

"I want the GAO to audit that decision,"

wouldn't that be viewed as an interference?

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