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The Secret Federal Reserve 2 trillion dollar loan,also they can’t find 9 TRILLION Dollars
July 6, 2009, 7:05 am
Filed under: Economics | Tags:

If you thought the $700 billion bailout bill was bad, think again. We all argued about so strenuously about $700 billion just this past September. We demand and then codify into law the requirement that our banks make massive loans to people we know they can never pay back? Why? We learned just days ago that the Federal Reserve, which has little or no real oversight by anyone, has “loaned” two trillion dollars (that is $2,000,000,000,000) over the past few months to companies and financial institutions effected by the credit crisis, but will not tell us to whom or why or disclose the terms.  Who has this money? Why do they have it? Why are the terms unavailable to us? Who asked for it? Who authorized it? The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure. The Fed made the loans under terms of 11 programs, eight of them created in the past 15 months, in the midst of the biggest financial crisis since the Great Depression.

“It’s your money; it’s not the Fed’s money,” said billionaire Ted Forstmann, senior partner of Forstmann Little & Co. in New York. “Of course there should be transparency.”

We don’t really know who they’re handing the money out to, because, apparently, it’s a secret. What are the implications of these secret loans? Well, more than anything, it is a serious crisis in democracy. The loans do not come from nowhere — they exist in the form of taxpayers money and loans taken out from foreign investors that must be paid back by, you guessed it, the taxpayer. Another huge problem with the massive bailout is that the tax payer is getting literally nothing in return for it. We already know that $29 billion worth went to JPMorgan Chase (NYSE: JPM) — to shift the worst junk on Bear Stearns’ balance sheet to the Fed’s back in March. And it’s safe to assume that the $2 trillion the Fed lent out is being exchanged for similarly junky assets.

In an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary. Barney Frank, embarrassing himself yet again, claims the Fed should keep its clap shut because if people know how bad it is, well, there might be a run. I think Barney’s missing the point, as long as people don’t know how bad it is, they won’t trust anyone who might be borrowing large amounts of money from the Fed with crap collateral, because they don’t know how bad it is and they suspect it’s really really really bad. As in 10 cents on the dollar bad. More to the point, that 2 trillion is taxpayer money, and taxpayers have a right to know what sweetheart deals Bernanke’s been giving out, and who’s been getting what. The whole of “this information is too scary for citizens to know.

There aren’t really words to describe how utterly outrageous this is. It is an utter failure of the democratic process and a shocking snap shot of just how corrupt the monetary system is that we live under. The United States is currently over $10 trillion in debt, a level that any other nation would collapse under. The consequences of perpetual debt, privatized profits and socialized risk are stark.

The Government Has Loaned or Pledged Over 7 Trillion Dollars To The Bailout  !

Let’s put this in perspective. According to Jim Bianco of Bianco Research, the bailout has cost more than all of these big budget government expenditures – combined:

Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551billion, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

TOTAL Combined Cost: $3.92 trillion
Bail Out: $7 Trillion. That’s $7,000,000,000,000.00 and……. growing

Another thing to consider :

Federal Reserve can’t find 9 TRILLION Dollars. The Federal Reserve apparently can’t account for $9 trillion in off-balance sheet transactions. Elizabeth Coleman as the inspector general of the Federal Reserve of the United States and is supposed to be responsible for preventing and detecting waste, fraud, and abuse, but in a videotaped Congressional testimony, she acknowledged that she can’t account for many trillions of dollars of our taxpayers money. TRILLIONS.   Specifically she says she knows nothing about nine trillion dollars ($9,000,000,000,000) that is claimed to be unaccounted for.

When Rep. Alan Grayson (D-Orlando) asked Inspector General Elizabeth Coleman of the Federal Reserve some very basic questions about where the trillions of dollars that have come from the Fed’s expanded balance sheet, the IG didn’t know.

Worse, nobody at the Fed seems to have any idea what the losses on its $2 trillion portfolio really are.

“I am shocked to find out that nobody at the Federal Reserve is keeping track of anything,” Grayson says.

What about the $1 trillion plus expansion of the Federal reserve’s balance sheet since last September?” Grayson asked.

We have different connotations,” Coleman replied. “We’re actually conducting a fairly high-level review of the various lending facilities collectively.”

Translation: Nobody at the Fed knows where the money went.

Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed.

“I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer.

What about the trillions of off-balance transactions since last September, Grayson asked.

Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve.

Between the Public Health Emergency over the Pandemic A/H1N1 Swine Flu, North Korea taking aim at Hawaii, discourse throughout the world, the wars in Iraq and Afghanistan and the Federal Reserve misplacing NINE TRILLION dollars, the crisis are indeed adding up.  America sits in the eye of the perfect storm for the change you don’t want to believe in.

something is amiss (to say it lightly)

We are on the verge of a global transformation.  All we [ the CFR ] need is the right major crisis and the nation[s] will accept the New World Order.”  End Quote.  David Rockefeller: Founder and Honorary Chairman, Council of the Americas; Chairman, Americas Society; Founder, Forum of the Americas; Chairman, Emeritus, Council on Foreign Relations [CFR]; Founder and Honorary Chairman, Trilateral Commission [TC]; Chairman, The Bilderbergs.

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The guys in the media have been sleeping. IT IS WORST THAN THAT.

Since after November 2008 election, I PERSONALLY emailed more than six times to every Democrat in the Senate and to President George W. Bush, then to the Obama-Biden Transition Team Chairman John Podesta, and then to President Obama himself via his White House email address I received from him, as well as to the email addressed of Rachel Madow, Ed Schultz, where-in I submiited the following:

1) Suggestions regarding the $23.7 Trillion of taxpayers money that has been given to Wall Street banks in cash and guarantees, and

2) That the TARP Bailout represented a mere (3 to 2) three to two percent of the $23.7 Trillion; and

3) That a Federal Permanent Fund (FPF) be set up patterned off the Alaska Permanent Fund (APF)
NOTE: The Atlanta Permanent Fund was created by an amendment to the Alaska Constitution to be an investment for at least 25% of proceeds from some mineral (such as oil and gas) sales or royalties. The Alaska Permanent Fund sets aside a certain share of oil revenues to continue benefiting current and all future generations of Alaskans. Many citizens[who?] also believed that the legislature too quickly and too inefficiently spent the $900 million bonus the state got in 1969 after leasing out the oil fields. This belief spurred a desire to put some oil revenues out of direct political control.The Alaska Permanent Fund is a constitutionally established permanent fund, managed by a semi-independent corporation, established by Alaska in 1976, primarily by the efforts of then Governor Jay Hammond. Shortly after the oil from Alaska’s North Slope began flowing to market through the Trans-Alaska Pipeline System, the Permanent Fund was created by an amendment to the Alaska Constitution.

4) That the Federal Permanent Fund (FPF) be created by an amendment to the United States Constitution to be an investment for at least 25% of proceeds from sales or royalties from the $23.7 Trillion given to Wall Street banks and other companies (such as oil and gas).

5) That royalty cheques be mailed to every eligible woman, child and man in every household in every one of the 50 states, used by women and men to start and operate their own small manufacturing business incubation business, by which would be aided the recovery of the American economy and the poor and middle class..

6) That the Federal Permant Fund set aside a certain share of Wall Street revenues and oil revenues to continue benefitting current and all future generations.

7) That many citizens believe that the Federal legislature and State legislatures too quickle and too inefficiently spend such million dollar bonus the Fed and state get after giving the $23.7 Trillion to Wall Street.

8) That the American people desire to put some of this revenue out of direct political control via Referendum.
Of course I received a few email replies from Senators Barbera Boxer, Dick Durbin, Berny Sanders, Rick Nelson, Al Franken aamong less than (10) ten Senate Democrats.

Of course, no reply was received from the President Obama White House, nor George W. Bush, nor John Podesta, nor from Rachel Madow or Ed Schultz.

Of course, the media only take suggestions from Pulletzer prize winners, from Ivy League university Ph.D.s who have never generated sales revenues to make payroll, and from fiction writers of useless books, which I refuse to do….as since primary school to present, I have very little admiration or respect for wealth attainment by fiction writers who do not to solve world problems of poverty like many ambitious people like my own Mother (desceased), who was made to believe by the deceptive authorities that when I go to school I will learn (at school) how to help my Mom how to make specific consumer products that the world community needs, and learn how to help my Mom to become rich and take care of her health and well-being of her at-risk children and family.

Of course, the Senators, President Obama, George W. Bush, Rachel Madow and Ed Schultz all claim they want poverty alleviation for the poor and middle class, but they scoff at the foregoing suggestions, because they do not come from text books, economists, or other book writers, or from their advisors who are not good at working where mathematics, science, engineering, business and technologies intersect where incredibly varied and challenging roles give opportunity to make a real difference to clients – the American people – to create value and meet the American people’s goals..

Kind Regards, Due Respect, and
Wishing You All That Is Good

Engineer Valdeck
** Extensive customer service experience.
** Ability to solve complex problems.
** Determine and formulate policies and provide the overall direction of companies assignments within the guidelines set up by the corporate executives’ own companies, board of directors, and similar governing body.
** Plan, direct, coordinate operational activities at the highest levels of management with the help of subordinate executives and staff managers.
** Solutions-Intellectual Properties-Brands-Manufacture-Bankers-Agencies-Pricing/Revenue Management-Investment Economics-Energy-Metals-Agriculture-Interest Rate-Global Currencies-Budgets-and-Foreign Policy Priorities-International Monetary Fund-Created Volatilities and Instabilities of an Economic, Social- and Political Nature by their Economists who are not good at Mathematics (That is Why – according to one Economist to me- They Chose Economics which is more like reading and writing the subject of Literature, Guesses and Fiction).

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