Economic Anarchy

by Mr. Charrington on September 17, 2008

Aloha Ohana,

I’m sitting here this morning watching the stock markets and following the economic news of the day. Reading the following article regarding the bailout of the insurance giant AIG I’m struck by the intentional vagueness of the reporting. I know that most people in this country seem to believe that the Federal Reserve Bank is a part of the US Government. In reality the Federal Reserve Bank is a privately owned bank, and a significant part of the ownership are not even Americans but are old European banking families. This article is very vague when it says “the government” is taking 80% ownership of this company while it is the Federal Reserve that is providing the money.

The US Government has given the privately owned Federal Reserve Bank the right to print money for the US. So, the Federal Reserve Bank prints the money and then lends it to the US Government at INTEREST. The US Government could just as easily print it’s own money and not generate any interest!! Therefore anytime the US Government prints or borrows money (like for a war in Iraq, or Afghanistan, or Iran) this small group of owners of the Federal Reserve Bank makes huge amounts of money by just printing money and lending it to the US Government. And guess who pays the interest!?!?!?! Obviously the citizens of the USA as we dutifully pay our taxes to an illegal IRS.

So, this week this small group of private international owners of the Federal Reserve Bank took some paper and printed up $85 billion (actually it was just a computer entry rather than printing any money at all) and lent it to AIG at 11.5% interest. And now you and I, and the rest of the US taxpaying public, owe this small group of owners of the Federal Reserve Bank somewhere in the neighborhood of $9 billion per year during the life of this loan. Not a bad deal for the owners of the Federal Reserve Bank, a totally no risk stream of income, gauranteed by the US Government, that is virtually 100% profit since it merely requires a computer entry on their part. And it’s not clear to me in this article who actually is now the 80% new owner in AIG. Is it the government, or did these private owners of the Federal Reserve just become the new owners of one of the largest firms in the world, in a deal 100% financed by the we the people?

These same dyanmics are at work in the Fannie Mae and Freddie Mac bailouts. Be aware that when the “Treasury Dept. bails someone out they are also using money created by the Federal Reserve. That was another $100 billion.

This same government, over the past couple of years, has passed new laws and regulations making it more difficult for the individual in the US to declare bankruptcy (conveniently just before the collapse of the artificially created housing “bubble”).

As you read the following article notice the way the terms “Federal Reserve” and “the government” are used to “fog” over the real relationships invovlved. If it was really the “government” lending the money to AIG, or whoever it’s new owners really are, then the interest on the loan would be paid back to the government and the US taxpayer would theoretcally benefit. But the reality is that a small group of powerful banking families are the only beneficiaries of this “deal”. Might want to keep your hand on your wallet as you watch the affairs of these times. The idea of government “of the people, by the people and for the people, might not be a myth to bet much on in these times. There are huge profits being made by the powerful elite in these so called economically challenging times. Stay focused and centered.

Blessings, Michael

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