Date:   8/30/2009 3:49:28 AM ( 15 y ago)
Hits:   1,192
URL:   https://www.curezone.org/forums/fm.asp?i=1481371

4 of 4 (100%) readers agree with this message.  Hide votes     What is this?

This is a compilation from different articles on this topic I made, with naturally some of my own opinions. ;-) You can read some of the articles from Bloomberg at: http://search.bloomberg.com/search?q=federal+reserve+case&site=wnews&client=w...


In November last year, Bloomberg sued the Federal Reserve to force them to disclose information about their "bailout loans".

The Federal Reserve fought the case and ...

LOST! (Fri Aug 28th.)
(Apparently their claim they're above the law isn't true?)

The Federal Reserve must for the first time, identify the companies in its "emergency lending programs" after losing the lawsuit.

They have to identify the companies they gave $1.5 trillion dollars to AND the amount AND assets used as collateral for the so-called "loans."

The Fed has refused to do this, saying disclosure might "set off a run by depositors and unsettle shareholders".

The Clearing House Association LLC, an industry-owned group in New York that processes payments between banks argued, “Experience in the banking industry has shown that when customers and market participants hear negative rumors about a bank, negative consequences inevitably flow,” Norman Nelson, vice president and general counsel for the group, said in the document. “Our members have accessed the discount window with the understanding that the Fed will not disclose information about their borrowing, especially their identity.”

Members of the Clearing House are ABN Amro Holding NV, Bank of America Corp., Bank of New York Mellon Corp., Citigroup Inc.Deutsche Bank AG, HSBC Holdings Plc, JPMorgan Chase Inc., UBS AG, U.S. Bancorp and Wells Fargo & Co.

Also, an industry group representing the biggest and most powerful banks on the GLOBE, including British, French, Dutch, German and American banks also issued a warning about the disclosure, saying "if they show who got the $1.5 trillion, it's going to destroy the world financial system". (And if my memory serves me correctly, it was more like 3-4 trillion anyway!)

So the world might "get destroyed." Why? Because the world will see for the first time, the SCAM these lying criminals have been pulling on us. The people will see the biggest banks in the world are really worth nothing and we've been slaving away to pay back these illegal loans. They'll see there really isn't any money. Only DEBT!

If the Fed is on the up and up, why wouldn't they want to show us? That would only HELP the economy! If they're a bunch of lying crooks like we know they are, then we LEAGALLY have the right to this information to procecute these bums. Either way we have the right to this information!

If we don't get it, they're going to repeat this over and over again with even bigger and bigger numbers causing the financial system to collapse anyway, and "the people" will be the ones who wind up with the bill and suffering from these evil criminals. (Personally, I'm going to tell them you're a third party to my financial affairs, I owe you NOTHING, so leave me alone or get sued again!)

Anyway, the Fed has until Sept 30 to appeal or put up. It's going to be REALLY interesting times this fall! So are you ready? Oh yeah, that's what I'm supposed to be doing. I gotta quit looking around and stay focused.

See Ya. :-)
 

<< Return to the standard message view

fetched in 0.02 sec, referred by http://www.curezone.org/forums/fmp.asp?i=1481371