Comments - Bail-out Bombshell: Fed "Emergency" Bank Rescue Totaled $29 Trillion Over Three Years - Occupy Cafe2024-03-29T08:50:51Zhttp://www.occupycafe.org/profiles/comment/feed?attachedTo=6451976%3ABlogPost%3A17782&xn_auth=noJitendra,
All of it makes m…tag:www.occupycafe.org,2011-12-20:6451976:Comment:186292011-12-20T01:01:42.905ZLindsay Newland Bowkerhttp://www.occupycafe.org/profile/LindsayNewlandBowker
<p>Jitendra,</p>
<p> </p>
<p>All of it makes most people's eyes glaze over. Most of us aren't even sure how many zeros there are in a trillion. So thi sis toughone and the problem is it's not like the Fed did anything it hasn;t always done with no scrutiny..the problem is whtathe FED is and that there is no scrutiny.</p>
<p>Revamping our entire central banking system is key and our good freind and wise man David Eggleton gave us a very accessible explanation of what's wrong wiht the existing…</p>
<p>Jitendra,</p>
<p> </p>
<p>All of it makes most people's eyes glaze over. Most of us aren't even sure how many zeros there are in a trillion. So thi sis toughone and the problem is it's not like the Fed did anything it hasn;t always done with no scrutiny..the problem is whtathe FED is and that there is no scrutiny.</p>
<p>Revamping our entire central banking system is key and our good freind and wise man David Eggleton gave us a very accessible explanation of what's wrong wiht the existing system in the Crash Course link he provided. So it can be easily understood by anyone if we make it a point.</p>
<p> </p>
<p>I am so grateful that the GAO audit mandate was apssed and that a preliminary audit is bringing us thi s information.that perhaps will awaken people and commit their energies and prupose into a complete verhaul f our central bank sysem and the premises it operates on.. fiat, fractional reserve, endless growth, endless debt.</p>
<p> </p>
<p>We should get Ben here /his main gig is investment counseling ( socially responsble), an MBa and I am sure someone who understands derivatives inside out as I now do ( like into the yes of the devil himself to look at what derivates have wrought in our market and how hard it is to extricate ourselves from them)</p>
<p>A divestment campaign might be effective and relevant. It helped put the squeeze on Apartheid in south africa ( The Sullivan Principles) getting all pensions, large instiutional investors ( churches etc.) and especially ( Ben's work) all individuals out of derivatives. People contacted me at home via my TED Converation on the role of derivatives in the 2008 global food crisis who are doing significant divestment campaigns</p>
<p> </p>
<p>And yes, more outing. </p>
<p>Out Jaimie Dimaon ( arrest Jaimie Dimon). Occupy his lawn</p>
<p>Out Ben Bernanke</p>
<p> </p> Surprised not many people are…tag:www.occupycafe.org,2011-12-20:6451976:Comment:182712011-12-20T00:38:16.632ZJitendra Darlinghttp://www.occupycafe.org/profile/JitendraDarling
<p>Surprised not many people are interested in this accounting. It feels to me that the exposure of this particular information that the Fed was hoping to keep under wraps, may prove to be a somewhat significant chink in some hefty armor. It gives the few remaining Congresspeople of integrity a little leverage, though for what exactly, I'm not certain.</p>
<p>Surprised not many people are interested in this accounting. It feels to me that the exposure of this particular information that the Fed was hoping to keep under wraps, may prove to be a somewhat significant chink in some hefty armor. It gives the few remaining Congresspeople of integrity a little leverage, though for what exactly, I'm not certain.</p> Jitendra,
Thnaks for postin…tag:www.occupycafe.org,2011-12-17:6451976:Comment:182022011-12-17T20:41:36.148ZLindsay Newland Bowkerhttp://www.occupycafe.org/profile/LindsayNewlandBowker
<p>Jitendra,</p>
<p> </p>
<p>Thnaks for posting. It is important that Occupy pointto the Fed and the need for radical reform of the central banking system which is the Federal Reserve Bank.</p>
<p> </p>
<p>The Fed is the blackhole of democracy.</p>
<p>Thnak goodness Congress gave us the GAO audit of the FED from which this dat ais now emerging.</p>
<p> </p>
<p>We cannot survive a sytem of endless growth ( Dacid Eggleton had posted a wonderful link called "Crash Course" that explains the…</p>
<p>Jitendra,</p>
<p> </p>
<p>Thnaks for posting. It is important that Occupy pointto the Fed and the need for radical reform of the central banking system which is the Federal Reserve Bank.</p>
<p> </p>
<p>The Fed is the blackhole of democracy.</p>
<p>Thnak goodness Congress gave us the GAO audit of the FED from which this dat ais now emerging.</p>
<p> </p>
<p>We cannot survive a sytem of endless growth ( Dacid Eggleton had posted a wonderful link called "Crash Course" that explains the inevitable collapse of endless growth in simple economic terms..we cannot have a system where a largely slef reguated ed can maufcature money as it sees fit..loan that money in whatever ways it wishes, incurring U.S. debt with every expansion of the "money supply".</p>
<p>I don't have too many ideas about central bak reform but it is urgent and central to all the calamities which have befallen us and will fall on us soon when the commodiies bubble bursts.</p>
<p>David's excellent film is not on the Fed..it is on the inevitable faiure of system based on growth ( rather than balance) and does hve a fanatstically simple and clear explanation of "fiat money"..our ystem and how " fractional resereve banking" sets us up for catastrophe. I believe it was called "Crash Course" .</p>
<p>Central Bank reform is very estoeric..way beyond me, but there are experts, UI belee to whom we could look for guidance.</p>
<p>Thanks again Jitendra for calling attention to how the FED is damaging us now and casting a dark cloud on our future.</p>
<p> </p>