Government Preparing for the End of the Federal Reserve Charter in 2013. Susanne Posel Occupy Corporatism December 15, 2012 The Federal Reserve Charter began on December 23, 1913.
This charter was good for 100 years, ensuring the Federal Reserve’s control over the United States currency. Prior to centralized banking, each commercial bank issued their own notes. The first institution with responsibilities of a central bank in the U.S. was the First Bank of the United States, chartered in 1791 by Alexander Hamilton. Its charter was not renewed in 1811. Today, the Federal Reserve prints the legal tender for the United States. Too Big To Fail Is Now Bigger Than Ever Before. Michael SnyderEconomic Collapse September 21, 2013 The too big to fail banks are now much, much larger than they were the last time they caused so much trouble.
The six largest banks in the United States have gotten 37 percent larger over the past five years. Meanwhile, 1,400 smaller banks have disappeared from the banking industry during that time. What this means is that the health of JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley is more critical to the U.S. economy than ever before. If they were “too big to fail” back in 2008, then now they must be “too colossal to collapse”. Ever since the financial crisis of 2008, our politicians have been running around proclaiming that they will not rest until they have fixed “the too big to fail problem”, but instead of fixing it those banks have rapidly gotten even larger.
Just before the financial crisis hit, Wells Fargo & Co. had $609 billion in assets. Bank of New York Mellon scored $3B bailout, also oversees entire program. Betts/Bloomberg Robert Kelly, chairman and chief executive officer of The Bank of New York Mellon Corp.
A New York bank that won $3 billion in taxpayer bailout money was hired by the government to monitor all banks that pocketed public cash - including itself. Bank of New York Mellon cashed in under the $700 billion Troubled Assets Relief Program - even as it was hired for $20 million to administer TARP money for the U.S. Treasury.
As "master custodian" for TARP and financial agent for the program, BONY safekeeps billions in cash, handles accounting and recordkeeping - and keeps track of limits on executive compensation at banks that got aid, a Daily News review of the deal found. My Blog. Harry Markopolos has lead the team that spearheaded this investigation from the beginning.
Harry and his team were the first to expose this fraud. Markopolos also told KWN, “The New York Attorney General filed suit on Tuesday (against Bank of New York Mellon) for stealing money from pension funds on currency transactions. Governments Using Swaps Emulate Subprime Victims of Wall Street. Ask a Nobel Prize-winning economist what’s the difference between the mayor of Baltimore losing taxpayer money with derivatives sold by Wall Street and millions of Americans defaulting on subprime loans and he’ll say there isn’t any: State and local governments are victims of opaque financing they don’t understand, the same way individuals go broke on borrowing at rates too good to be true.
Martin O’Malley, Baltimore’s mayor in 2002, led his constituents into a financial trap that was supposed to save money on water, sewer and other projects. Gordon Brown Sold Britain’s Gold at Artificially Low Prices to Bail Out a Large American Bank. Governments Don’t Manipulate the Price of Gold … Do They?
The Telegraph’s Thomas Pascoe reported Thursday: One decision stands out as downright bizarre, however: the sale of the majority of Britain’s gold reserves for prices between $256 and $296 an ounce ….When Brown decided to dispose of almost 400 tonnes of gold between 1999 and 2002, he did two distinctly odd things.First, he broke with convention and announced the sale well in advance, giving the market notice that it was shortly to be flooded and forcing down the spot price. This was apparently done in the interests of “open government”, but had the effect of sending the spot price of gold to a 20-year low, as implied by basic supply and demand theory.Second, the Treasury elected to sell its gold via auction.
Again, this broke with the standard model. JP Morgan was wildly short gold in 1999. But would government employees actually manipulate the price of gold? Yes, actually. As CNBC reports today: The Scam Wall Street Learned From the Mafia. UPDATE 1-Morgan Stanley to settle class-action lawsuit. Tue Jun 12, 2007 7:22pm BST (Recasts, adds response from Morgan Stanley) NEW YORK, June 12 (Reuters) - Morgan Stanley (MS.N) will pay $4.4 million to settle a class-action lawsuit with brokerage clients who bought precious metals and paid storage fees, according to a court filing.
The proposed settlement, which must be approved by the federal court in Manhattan, includes a cash component of $1.5 million and economic and remedial benefits valued at about $2.9 million, according to a court filing on Monday. Big Banks Funded the Nazis and Launched a Coup Against the President of the United States. Preface: Not all bankers are bad people.
For example, many bankers at smaller banks and credit unions are good people who are trying to help their communities. Banks Fund Terrorists. Professors Black and Wray Confirm that Bear Pledged the Same Mortgage to Multiple Buyers. 503 Service Unavailable. How cluster bombs work: click here to download graphic (71k) The Royal Bank of Scotland, Lloyds TSB, Barclays and HSBC have all provided funding to the makers of cluster bombs, even as international opinion turns against a weapons system that is inherently indiscriminate and routinely maims or kills civilians.
One year ago this month, Britain became an active participant in the Convention on Cluster Munitions, a global treaty that bans the use, production, stockpiling and transfer of cluster bombs. To date, 108 countries have signed the treaty, which also forbids parties from assisting in the production of cluster weapons.
Yet there has been no attempt by the Coalition Government to rein in banks and investment funds that continue to finance companies known to manufacture the weapons. Whistleblower says BofA defrauded HAMP. » Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe Alex Jones. Michael SnyderEconomic Collapse September 25, 2013 Now that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.
Iran-Contra: The Cover-Up Begins to Crack. Until last week the Iran-contra scandal seemed ready to fade from the courts, the news and the mind. After costing more than four years and $25.5 million, the investigation headed by special prosecutor Lawrence Walsh was limping to a close. A federal appeals court had overturned Lieut. Nomi Prins: Tremendously Dangerous Time-Stay Away from Investing in Stock Market.
HSBC, accused of financial dealings linked to terrorists and drug cartels, heads to Senate subcommittee. “At the Root of the Crisis We Find the Largest Financial Swindle in World History”, Where “Counterfeit” Mortgages Were “Laundered” by the Banks. » 5 Years After the Financial Crisis, The Big Banks Are Still Committing Massive Crimes Alex Jones. Big Banks Busted Manipulating Aluminum and Copper Prices.