The following video was broadcast on MSNBCs Morning Meeting, Friday, July 24, 2009:
Federal Reserve is a Ponzi scheme, an inside job
Source: RawStory
The Federal Reserve — the quasi-autonomous body that controls the USs money supply — is a Ponzi scheme that created bubble after bubble in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.
In a wide-ranging discussion of the bank bailouts on MSNBCs Morning Meeting, host Dylan Ratigan described the process by which the Federal Reserve exchanged $13.9 trillion of bad bank debt for cash that it gave to the struggling banks.
Spitzer — who built a reputation as the Sheriff of Wall Street for his zealous prosecutions of corporate crime as New Yorks attorney-general and then resigned as the states governor over revelations he had paid for prostitutes — seemed to agree with Ratigan that the bank bailout amounts to Americas greatest theft and cover-up ever.
Advocating in favor of a House bill to audit the Federal Reserve, Spitzer said: The Federal Reserve has benefited for decades from the notion that it is quasi-autonomous, its supposed to be independent. Let me tell you a dirty secret: The Fed has done an absolutely disastrous job since [former Fed Chairman] Paul Volcker left.
The reality is the Fed has blown it. Time and time again, they blew it. Bubble after bubble, they failed to understand what they were doing to the economy.
The most poignant example for me is the AIG bailout, where they gave tens of billions of dollars that went right through — conduit payments — to the investment banks that are now solvent. We [taxpayers] didnt get stock in those banks, they didnt ask what was going on — this begs and cries out for hard, tough examination.
You look at the governing structure of the New York [Federal Reserve], it was run by the very banks that got the money. This is a Ponzi scheme, an inside job. It is outrageous, it is time for Congress to say enough of this. And to give them more power now is crazy.
The Fed needs to be examined carefully.
Spitzer resigned as governor of New York in March, 2008, after news reports stated Spitzer had paid for a $1,000-an-hour New York City call girl.
read the full article at:
http://blacklistednews.com/?news_id=4977
http://www.wacholland.org
a good video and should be seen by everyone.
This is why you should invest in precious metals, because as long as the
FED that is not even federal but private keeps printing money that is
worthless, come the Wealth Transfer, the grits will hit the fan.
Until they start the printing press again, there will be a state of
confusion, having precious metals will get your bills paid, food in your
belly, and hopefully keep the roof over your head depending on how much you
have.
The debt ceiling will never lower, if it does, in then in turn will destroy
the currency as well. It is a win win for the FEDS to destroy the promisory
note our currency as the banks get fatter through them. Get gold or silver
and get out from under the bonds of debt slavery.
Good video to explain how FED and current banking system works , thank u
Not only did we not put them in jail, we paid them 14trillion ! Wow
@enslavetherich excellent quote – an excellent discussion – we can all
blame the mainstream managed media but they are adapting – this discussion
I suspect would not happen in a BBC studio – so good for the American media
and those people who are keeping them under pressure. I respect Ron Paul on
the Constitution but on Gold he is wrong – it would just create an
unaccountable elite of gold speculators – the solution is govt created
money & destroying organized crime – see Steve Keen economist
politicians are for sale, your paycheck and savings is worth less and less,
you cannot trust television, newspapers and radio…we dont really know who
our enemies are because the money trust crime families are controlling the
government using money. if you dont hage money no one will hear you
The basic problem is simple. The nation has no national money supply in the
sense of national currency “of the people by the peole for the people”. So
every one must go into debt to the banks. That is, there is no free
contract is possible between borrower and lender. The nation must take
back, from private institutions, the right to issue the nation’s currency.
Maybe Hitler had it right? After all. And this is the thanks we get.
How does the Fed steal money from you? By inflation !!! The FRB profited
$8.4 TRILLION last year from the auction of securities—OFF OF THE
BOOKS–without any mention in the REPORT TO CONGRESS! It is embezzlement by
counterfeiting! The Ponzi scheme Fed inflicts perpetual indebtedness and
confiscates the wealth of the people, and posterity, while impelling the
nation to national bankruptcy. search RIP OFF BY THE FED RESERVE 3W scribd
dot com message 48194264
@enslavetherich I was a Ron Paul supporter but to clear up something about
the EU; US pundits blame social market – in economics it works at the point
of maximum social benefit – the fact is that Banks leveraging out mortgages
100 times trading them as though they where assets insted of debt & then
hedge funds claiming insurance on Credit default swaps – from mortgages &
houses they don’t even own created bank debt – that’s Ultra Conservative
Ponzi Scheme Capitalism not social markets.
There should be 300,000,000 people banging on the door of the Fed right now.
Bernanke makes an appearance in the upper left corner!! 5:05
bank runs should have started after the bailout since the cash given was
pretty much there to insure deposits the people should have drained their
accounts. Since most cant take out their retirement they should borrow
against them and tell them to keep it (buy gold). Everyone sell the banks
and the traders sell short. Let them die. Bring the ponzi scheme to it’s
knees
Great video!!! A very good contribution to the education of the people.
Iceland has a different opinion fer sure
DAMN LIBERALS. The Fed generates is own income and is self sufficient. The
problem is that it has government garuntees and a monopoly.
Ok, is anyone see Mr. Ants at 5:07? he like hey hey, oh no i’m on air.
These idiots & their calling for some secret audit of the fed as though its
going to reveal some amazing truth smh… Use your brain people… If the
“fed” gives up no lawful consideration (ie. something of value) intervening
on our contracts and issuing a secondary mis-representation of what we
initially create/issue (ie. promissory note/which is principal creation)
publishing further evidence of our own promissory notes to each other,
theres no debt to them & interest is unjustified… Derp
Do it Marie Antoinette style, get a big guillotine out front of the FED
building for after the trial, charge: treason, theft, corruption, debasing
the currency, counterfetting trillions upon trillions of dollars.
The Federal Reserve admit they hold ONLY Gold Certificates , valued that
the 1942 price per ounce of $42 US dollars . They also say that these
certificates are for ” accounting purposes only ” ( whatever that means ) .
You can see this interview here on Youtube : Federal Reserve Admits ” We
Have No Gold ” . Also includes details of who did this , but not WHY they
did it . All very interesting ( and slightly scary )
@enslavetherich They omit the most crucial information: The Fed is private
and not more govermental than the federal express
They don’t go back far enough… Who told the banks to create the garbage?
Dodd and Frank. You MUST sell to people who can’t afford houses… and so
the good intentions of giving everyone a house blew up.. Liberalism
destroys everything it touches.
Maybe after the private Federal Reserve bank (which has NO reserves)
destroys the Dollar, and it collapses the globalist who are running this
country can establish a one world government currency, controlled by a
world bank. We can all pay taxes to this bank for interest payments and
also the very air we breath via a carbon tax that Obama is trying to push
through right now! I cant wait.
obama and bush are cellmates
I hope Spitzer takes on the BANKS. They are CRIMINALS! They don’t have
anymore dirt on him anymore. Unleash the bulldog on them.
Its easy to look back at history and criticize the Fed. Great Depression:
critics say FED did not do enough! well we were pegged with gold standard =
no monetary policy. Financial Crisis of 2008: critics say FED did too much!
Well we didnt go into the Great Depression and the economy is improving so
I dont know what people are bitching about. Everything the Fed done has
been weighed with MB > or = MC. If you go and prosecute the FED, LOL
economy will crash. There will always be blame.
What I wish Ratigan would have explained is how the “too bigs” sold this to
the public by claiming the small banks would get the bailouts. Instead it
all went to the too bigs. So they also destroyed all the share holders of
the small banks (who had been defrauded into hanging onto their shares,
mind you).
What the American People should do is demand congress to grow some BALLS
and how the government Tax the FED and the bankers 50% and if they choose
not to play by the rules then NATIONALIZE all the banks including the FED
and have the US Treasury handle America’s debt.
Raising taxes makes people work more, gives them less time and money to
properly educate themselves or there children. Widening the gap between the
rich allowing the rich to stand on people shoulders. Those who can, will
make something of them self and have slaves of there own if they are smart
enough.
– RON PAUL – 2 0 1 2 !!!!!
The federal reserve allowed the crash to happen on purpose. They engineered
the collapse so that they can be one step closer to achieving their new
world order in which everyone is their slave and they hold all the power
and money. Research bilderberg group, trilateral commission, and the
council on foreign relations, all of which were started by pretty much the
same group.
stellar!
5:22 what is he trying to communicate? Enslavetherich, who is he giving
that signal to? I don’t understand.
@SnileyS The banks are the ones who lobbied Dodd, Frank, Paulson, etc to
keep the Fannie/Freddie machine well oiled so that they could pass their
garbage to the tax payer as long as possible. When this system broke down,
the FED came in a purchased up the rest of the garbage. Like Ratigan says,
the biggest theft in world history (by far).
@flirtwd The point of all of this, is that the Federal Bank is NOT Federal
AT ALL!! The Federal Reserve Bank is a privately owned bank. Our American
dollar is like Monopoly money. It’s all a big fn joke. The entire world is
laughing at our stupidity. We all need to stop paying into this government
and put an end to this!!! No more taxes that are against our constitution!!
That means no toll roads, no income tax, no tax on goods, no tax on just
about ANYTHING!!! Action is ABSOLUTELY NECESSARY!!
Who ever invest in gold… got riches
Very good exept , they didnt understand what they doing ? Unh unh!
End the Corrupt and Unconstitutional Federal Reserve!
Quasi?! There’s no “quasi” about the relationship between the fed and
congress. They operate autonomously, with ZERO regard for the best
interests of this nation. It was obviously an inside job, one which
fomented the greatest transfer of wealth the world has ever seen. Support
Ron Paul any way you can. He will probably never get elected to any office
higher than the one he’s in now, but he’s bringing up VERY IMPORTANT ISSUES
THAT CANT BE IGNORED
the biggest theft in american/ world history. our country and the peoples
power has shunk since the FED took over in 1913 and National Security Act
in 1947 signed by Truman. the ppl were dealt an even worse hand after the
assassinations of the 60s (JFK,MLK and RFK) . our country has gone downhill
since with scandal after scandal. iran countra, watergate, the oct
surprise, the INSALW affair/ octopus, the 2000 election, iraq war, 2004
election, and the Stimulus, Bail Out and other bills like it
when does the revolution start???? Do we just start deleting bankers??? Do
we hang a few guys From Goldman Sachs? Set up the gallows on Wall St.?
Infowars been talking about this for how many years now ?????
@flirtwd dum dum dum
The fed (and the CIA, NSA ETC) need to be held accountable by Congress
this was bad, no doubt…but not the worst. Check out what happened on June
5, 1933. Hint: HJR-192. (they took our gold and our land and money).