CRS releases "Shell Game" played by FED

[utgibbs]

"Instead of using the Fed loans to reinvest in the economy, some of the largest financial institutions in this country appear to have lent this money back to the federal government at a higher rate of interest by purchasing U.S. government securities."

Just like I said.

http://sanders.senate.gov/imo/media/doc/sanders-bankholdingsofsecurities.pdf

Super-Keynesian Corporate Welfare. This is before we start talking MBS buy-back and TARP too. :hi:

 

[MG1968]

GSM for what?

if I did the math correctly, the tables in that .pdf add up to around 120 billion in US gov. securities held by those 6 banks. That's a lot of money, but a pittance compared to what China, Japan, and Great Britain hold.

 

[utgibbs]

Mght want to look at fig 1 again and several prominent VolNation CPAs said this absolutely was not happening. But the guy who hires the accountants was right as rain. :hi:

 

[gsvol]

 

[Rasputin_Vol]

My Goodness!!! What does it all mean???

 

[utgibbs]

My Goodness!!! What does it all mean???

Exactly what I said it did long ago.

These accounting mechanisms are nothing more than elaborate con games (conning the American taxpayer) to shift public money to the investor class.

Moreover, this specific mechanism was denied by several VN CPAs and CFAs, but it has been happening, just as I said it was.