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VIDEO - The Kucinich Report : The FED Grants 7.7 Trillion In Secret. Now Do You Understand Occupy Wall Street?.

VIDEO - The Kucinich Report : The FED Grants 7.7 Trillion In Secret. Now Do You Understand Occupy Wall Street?

Congressman Dennis Kucinich (D-OH), a longtime advocate for reform of the Federal Reserve, is sharply criticizing the Federal Reserve today after Bloomberg news reported that the Federal Reserve secretly committed nearly $8 trillion in support to American and international financial institutions during the 2008 bailout. Kucinich recorded a video for his website before going to the floor of the House of Representatives to call upon Congress to reclaim its Constitution primacy over monetary policy.

http://youtu.be/oUpXDZFtEHw

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I did not read this all but

I did not read this all but when I got to the part about the federal reserve being placed under the executive dept of the government, which is not only ridiculous but makes no sense when he speaks about Congress being in control, I quit reading, and think this is a total waste of time..just sayin'..

Cyril's picture

Thank you for this post and Mr. Kucinich is right of course...

HOWEVER.

The so-called "FEDERAL RESERVE" should be MUCH MORE SO APPROPRIATELY named the "FEDERAL TRAMPOLINE AND FLUSH"

For it is NO RESERVE of ANYTHING WORTH a dime.

But it is, indeed, A FORMIDABLE TRAMPOLINE AND FLUSH device.

Here is why, more specifically :

I am sorry I have to re-HAMMER this down here again and again, but one REALLY has to understand how the EXACT, COMPLETE SCAM scheme works.

Granted. The Fed. Reserve creates money out of NOTHING.

Out of the VOID. Or out of THIN AIR. Whatever you like to name it. But is it ALL OF, and the end of the story ?

Sure it is NOT. Why would they REALLY DO THAT, anyway ? Past the rigging of ASSETS bookeeping ?

Here follows what is THE REAL EVIL that brings them FORMAL JUSTIFICATION to do so. With the blessing of corrupt, ACCOMPLICE governments, on both sides of the Atlantic.

And this is SO MUCH UNCONTROVERSIAL that it even appears on a still UNDISPUTED PAGE (as of today) of the single one, free, people-authored online encyclopedia around ; under the "Reason for existence paragraph" :

http://en.wikipedia.org/wiki/Fractional_reserve_banking#Reas...

\BEGIN QUOTE

"Reason for existence

Fractional reserve banking allows people to invest their money, without losing the ability to use it on demand. Since most people do not need to use all their money all the time, banks lend out that money, to generate profit for themselves. Thus, banks can act as financial intermediaries — facilitating the investment of savers' funds. Full reserve banking, on the other hand, does not allow any money in such demand deposits to be invested (since all of the money would be locked up in reserves) and less liquid investments (such as stocks, bonds and time deposits) lock up a lender's money for a time, making it unavailable for the lender to use.
According to mainstream economic theory, regulated fractional-reserve banking also "benefits" the economy by providing regulators with powerful tools for manipulating the money supply and interest rates, which "many" see as essential to a healthy economy."

/END QUOTE

Q1 : guess WHO regulates "fractional-reserve banking" ?

Hint : answer is CERTAINLY NOT the People, either directly or NOT even the MOST REMOTELY INDIRECTLY ; instead : A PURE, ARBITRARY, (multi-)governmental PREROGATIVE (here, in the USA, as much as in E.U. with the Central European Bank)

Q2 : guess WHO are "the mainstream economic proponents" of that ?

Q3 : quess WHO are the "many seeing that as essential to a healthy economy" ?

Q4 : (where the WP page rather falls short on giving us any really informative clue...) And WHAT KIND of "powerful tools" by the way ? Powerful tools for WHICH BENEFICIARIES of the regulators using those ("tools") ?

Hint : just my guess : likely very much so the same ones as in Q2, Q3 ... Duh.

As long as everybody, or most of us, will agree NOT TO DENOUNCE, UNANIMOUSLY this INSANE system of things, we will not really solve, IN DEPTH, the banksters' economical legitimacy issue.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

+1. (@ AmeriRock below) I get your point

Though in all sincerity I wouldn't quite call "abortion" a "minor issue", I do get your point which I can also sum up once again thanks to my good friend Pascal's :

"Man's sensitivity to the little things and insensitivity to the greatest are always the signs of a strange, worrisome disorder."

Blaise Pascal

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Bain Capital

I like the reply there that Bain gave the DNC 125k ? Wtf?

On a side note Kentucky completed an unbelievable 35 out of 37 free throws last Friday. I was almost in shock as I watched. I will never again see something like that again.

Go KENTUCKY !!!!!!

donvino

I'm an IU fan and

didn't like that game, but good luck in the finals.

OWS

has been blaming the wrong people, They need to occupy the fed. They are not the only ones who have had the wool pulled over their eyes. I have been saying this for a long time.

The small things like health care and abortion and other small social issues are only meant for one thing and that is to occupy your mind.

Also in recent years I have seen a wedge put between Black and White people, also driven in between wealthy and poor and all this is done intentionally.

The more they can drive a wedge between all of us the weaker we become and that is the very heart or their plan.

Because they are paid shills

who are paid to protest for "Social Justice" or, in other words, the progressive path.

Upvote for Kucinich

Enough said.

+ Follow the Cooperative principle
+ Civility first
+ Constructive comments

Why doesn't OWS Occupy the Fed?

Alex Jones had an Occupy the Fed here in Austin and San Antonio and Dallas. I guess it didn't catch on. They have their minds set on Wall St.

Cause they're too busy blaming

the wrong people.

Patriot Cell #345,168
I don't respond to emails or pm's.
http://www.youtube.com/watch?NR=1&feature=endscreen&v=qo8CmO...
Those who make peaceful revolution impossible will make violent revolution, inevitable.

Goldman Sachs Is Not The Wrong People

Wall Street has taken over our government.

Earning an honest buck is one thing. Earning a dishonest buck is another.

___________________________________________________________________________
"Bipartisan: both parties acting in concert to put both of their hands in your pocket."-Rothbard

If government has no money...

...then Wall St. has no reason to get in with the government. If the government has no money, it has no power. Hence why no/low taxation, moral arguments aside, is so important.

They are in a sense

Government is who they should be going after. I've heard their rants about "rich people" and it's fucking ridiculous.

I'm all for OWS if they'll get their heads out of their asses.

Minus the socialist entitlement BS of course.

Patriot Cell #345,168
I don't respond to emails or pm's.
http://www.youtube.com/watch?NR=1&feature=endscreen&v=qo8CmO...
Those who make peaceful revolution impossible will make violent revolution, inevitable.