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Tag Archives: Fiscal Cliff

Are we AT the end of the road?

05 Sunday Aug 2012

Posted by HattieBelle in 2012 Election, Asia, Bailouts, Banking, Derivatives, economy, Euro, Euro Crisis, Federal Reserve, Financial Crisis, Fiscal Cliff, Government Accountability Office, Greece, Intervention, Leveraging, No More Bullets, Profits, Quantitative Easing, Regulation, Repeal of Glass Steagall, Sheep, TBTF

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Tags

Asia, Bank, Bank run, BROKE, Business, BUSTED, CDS, China, Debt, Derivatives, Eurozone Crisis, Fiat Money, Financial Crisis, Financial Services, Fiscal Cliff, Fractional reserve banking, Government debt, Japan, Leveraged

ARE WE THERE YET?

We don’t know EXACTLY what is to come, but we can joint the dots from where we are now to the collapse of the first major bank…

  • With very limited room for government bailouts, we can very easily join the next dots from the first bank closure to the collapse of the whole European banking system, and then to the bankruptcy of the governments themselves.
  • There are almost no brakes in the system to stop this, and almost no one realises the seriousness of the situation.
  • The problem is not government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives…
  • Yes, that equates to 1200% of Global GDP and it rests on very, very weak foundations
  • From an EU crisis, we only have to join one dot for a UK crisis of equal magnitude.
  • And then do you think Japan and China would not be next?
  • And then do you think the US would survive unscathed?
  • That is the end of the fractional reserve banking system and of fiat money.

There is no way out, as shown HERE.

Related articles
  • The Banking System at the Root of the Crisis (newleftproject.org)
  • The Derivatives NIGHTMARE: A Fraud Far Beyond Fractional Reserve Banking (sgtreport.com)
  • Fractional Reserve Banking, Government, and Moral Hazard (thedailybell.com)
  • Duration Mismatch Will Always Fail (safehaven.com)
  • Fractional Reserve Banking, Government, and Moral Hazard (safehaven.com)
  • Disintegration: What It Looks Like When a Nation Collapses (sgtreport.com)

Auditing the fed is more URGENT than ever

25 Wednesday Jul 2012

Posted by HattieBelle in American, Audit the Fed, Banking, Capitalism, Debt, economy, Federal Reserve, Federal Reserve Transparency Act, Financial Crisis, Fiscal Cliff, Government Accountability Office, Politics, Washington, World Bank

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Audit the Fed, Bailout, Bailout the World, Central Intelligence Agency, Federal Reserve, Federal Reserve System, Federal Reserve Transparency Act, Financial Crisis, Fiscal Cliff, Government Accountability Office, IMF, Ron Paul, TBTF, United States, World Bank

by Julie Borowski/Townhall

No government institution is more secretive than the Federal Reserve. Believe it or not, the Central Intelligence Agency (CIA) is more transparent than the central bank of the United States. This is a huge cause for concern as the Fed dramatically affects the lives of every single American.

The Fed has never been fully audited in its nearly 100-year history. The American people only got a small glimpse of what happens behind closed doors last July. A watered-down audit conducted by the Government Accountability Office (GAO) revealed $16 trillion in Fed bailouts to banks and corporations around the world at the height of the recent financial crisis.

To put that gigantic number in perspective, the gross domestic product (GDP) of the United States is roughly $15.09 trillion. This means that all of the Fed’s liabilities in a couple years time frame were worth more than the total annual economic activity within the United States.

These bailouts were so secret that even Congress had no idea.

From Libya to the World Bank, the American people deserve to know where their money is being sent. The Fed’s inflationary policies have been driving up the cost of everything from food to gas. Opening the books on this secretive organization will put a stop to their bailouts.

The House of Representatives will vote on the Audit the Fed bill this afternoon sometime around 1:00-2:00 p.m. Watch it live on C-Span, HERE.

This is Your Last Chance to Take Action: Tell Your Congressman to Vote YES on Audit the Fed Bill!

Read more HERE.

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