Bernanke threatens economic crash if Congres audits Fed

hyperlinks and video at source:

The following 7-minute video is one of the best I've ever seen in economics. It begins with Federal Reserve Chair Ben Bernanke threatening an economic crash if Congress audits the Fed, moves to revelaing headlines of financial corporate profits after taxpayers socialized their gambling losses, then closes with Secretary of the Treasury Tim Geithner telling Congress that TARP is really a pertetual line of $700 billion credit for him to do with as he pleases as long as Bernanke agrees. That means, if Treasury can sell the troubled assets, that money returns to Geithner's private reserve to buy more assets. As you may know, Harvard's Elizabeth Warren, the chair for the Oversight Panel, reported to the Senate that Treasury is over-paying corporations by about 50%. That's a gift from us, the taxpayers, to the gambling-addicted plutocrats of $82 BILLION.

(go to above source for video)

What to do about this? Here's Gandhi's take early in his work, in 1903 working for equal rights in South Africa at age 34:

"One thing we have endeavoured to observe most scrupulously, namely, never to depart from the strictest facts and, in dealing with the difficult questions that have arisen during the year, we hope that we have used the utmost moderation possible under the circumstances. Our duty is very simple and plain. We want to serve the community, and in our own humble way to serve the Empire. We believe in the righteousness of the cause, which it is our privilege to espouse. We have an abiding faith in the mercy of the Almighty God, and we have firm faith in the British Constitution. That being so, we should fail in our duty if we wrote anything with a view to hurt. Facts we would always place before our readers, whether they are palatable or not, and it is by placing them constantly before the public in their nakedness that the misunderstanding between the two communities in South Africa can be removed." Indian Opinion (1 October 1903)

I remind you that American colonists petitioned the British government at first, hoping that they would respond by giving Americans equal protection under the law. It was these trials that created the character of our most cherished Americans. It seems that our current choices of action are at least to adhere to the facts, engage in some kind of demonstration/petition/public conversation, and be emotionally and mentally prepared for some form of revolution. I would prefer the easier path that the US government acts in service of the public good rather than an oligarchy. However, at the cost of our collective TRILLIONS of dollars, at the cost of over a million dead and multiple millions in horrific suffering from our imperialistic Wars of Aggression, at the cost of a million children dying every month from preventable poverty and multiple millions more in agony because the US refuses to fund programs like the UN Millennium Goals at more than a token - even programs that generate profit like Microcredit (I personally volunteered 18 years as a lobbyist for RESULTS and witnessed this), if we want a brighter future we need a breakthrough beyond what we've done to date.

As always, share this information with whoever considers themselves competent citizens.

Can you supply details on stunted funding for MicroCredit?

I've heard wonderful things about microcredit in India, even though the interest rates are usurious, by American standards. And yes, I've also heard that it's very profitable - the default rate is very low. So, it's a win-win, but I'm curious as to why that would not attract American aid. Perhaps to leave the field to American capitalists? Or perhaps because it will not support a hierarchically structured capitalism, which is the one that suits the "big boys", the most?

I stopped lobbying for it in 1998...

We just received excuses. The bottom line is that "leadership" doesn't want it. We know this for sure because they don't fund it, even though Microcredit turns a profit. The RESULTS Microcredit site might have answers for you.


Dear synergist

..........As appalling as the lie we were fed on 9/11. This should rate as high on all Americans priority list.
I highly recommend watching the money masters on google video. Yes it's long. A three part video , each two hours long , but it put's it all in perspective. MONEY & POWER.
When if ever are Americans going to wake up?

hi WISDOM :)

The Money Masters is awesome; it's what alerted me to this area of study in 1996 or '97. I'm pals with Paul Grignon, the creator of Money as Debt and his new version that you MUST see if you haven't already. I teach economics and wrote a brief on monetary reform, which also has Paul's new video live on the article:

I also work with Ellen Brown for state-bank creation, which will be my next post.