There is something here Glenn that we believe you got slightly wrong. You said in the video below that as the Fed tells the Treasury to print more money...that the government gets bigger and bloated. While this may be what the Fed wants you to think, it is a ruse. In fact, the Fed gets bigger not the government. Don't forget, that the Fed is not the government. A now famous phrase is: The Fed is no more federal than Federal Express (FedEx). It IS a private entity made up of member banks who are also not government. The Fed and their money (Federal Reserve Notes) that they pay pennies to have the U.S. Treasury print for them, is then loaned to our government with debt attached. That debt is owed to them and supported by the government who uses the IRS as a way of taking the money from the taxpayer to give back to the Fed. However that isn't enough to pay the debt. So the Fed and its member banks come up with new ways to get money from each individual and family. How do they do it? Credit! And the marketing of various types of credit and loans. Will there be failures in the massive effort to make as many loans at all costs as possible? YES! But that is okay because it will allow the Fed and its private member banks to then snatch up assets at super cheap values. Will this break the backs of some/many honest people? YES! It will do so from their investments, from their savings, from their assets, and from every day prices which will go up (inflation). Inflation is the secret tax but is an instrument of the Fed. But other than that little aspect (laughs) you got it right Glenn. Don't let the Greenspans of the world play the bait and switch or throw the blanket over your eyes, move. EYES OPEN folks! The federal reserve note we call the dollar does not belong to you. It is on loan to you through the U.S. Government who represents you. It holds no intrinsic value. Meaning that you can't convert it into something of real value. That is why the Fed worked with your leaders years ago to take away the gold standard. Without the gold standard, the Fed can leverage one dollar in deposits and turn it into an imaginary 10,000 dollars or more. They then loan out this imaginary money and hook you for the pay back. Can you see how this makes the Fed very rich? The Fed is NOT a government entity. Please don't disparage China. They have been supporting the growth of our country for a very long time. They have been buying the majority of our debt until recently. Now they buy only some of it. The Fed has taken control on such a massive scale now in which what it does, benefits them but affects the world. They turned a blind eye when the banks sought to make immoral loans to anyone that could make up an income without proof. Oh darn...Fannie and Freddie got caught in a scandal. The Fed makes mortgage companies with now morals of their own and no over-sight. They make immoral loans too! But now that Fannie and Freddie are not buying up the mortgages from the banks and now the mortgage companies; who will? Everyone else! They package up these immoral loans into securities that the friends of the Fed pay "Rating Agencies" to turn shit into AAA rated and approved. So now you have junk loans (toxic securities) turned into an imaginary value. Of course the truth is hidden behind the mountains of garble-speak-contract-wording. Ok...so no one knows what it all means (Except the FED). But it has AAA ratings and everyone is buying it. Greed takes over. Everyone wants in on this mis-understood security which started out as a loan to someone. Oh! and lets not forget the part of the SEC and its affiliation with the FED. While the FED turned a blind eye from the banks, the SEC needed to turn a blind eye from Wall Street who jumped in to get a piece of this big money, even though it was just funny money! So many people paid for worthless nothing! Worthless mortgages that could not survive in the truth of its real value. This too, led to the housing boom. Something that Greenspan said it could not have fore-seen (laughing again). The Fed turned American dreams into the biggest coup to-date for them. They engineered the biggest buying opportunity. Lowered the interest rates and promised a home to everyone. So everyone wants to go into debt. Everyone who can't is told that they can! And in the midst of the craze, home prices start rising amazingly. Then the finance sector has even more ammo to sell you that American Dream. Buy Now cause rates are low and you have instant equity! We have the loan for you! The finance sector's greed is out to get you at all costs. And where it can't through a new mortgage, it does it through the power of the credit card. Offering you more credit that you can't afford to have. Buy more! What did the former President Bush tell you to do? He wanted you to raise your middle finger against the so-called terrorists and go out and spend, spend, spend!!!! This was a twist on the bait and switch or another way to get you to not see what was really happening. It was giving you back some of your own tax money to go out and spend it in order to keep you from seeing what was really happening. Also, instead of being told to pay down some of your debt with that money, you were persuaded to keep your credit debt in order to buy and then owe more to the banks! Who are the terrorists? The label has been used to make you think it is those in the middle eastern countries who want your freedoms. However, as bait and switch or the like dictates...The real terrorists in this case are those who use fear and false hope, or other subversive actions to get into your pockets and take out everything. They want you addicted to credit for life. Till death do us part. Why not? One dollar in deposits is equal to 10,000 in funny money. The savings rate of the U.S. citizen? 0% on average. The savings rate of the average Chinese person? 40% Now the Fed and the IMF want to get China and other countries addicted to our drug. There's billions of people there. Thats big bucks for the Fed and the IMF member companies. They want the average Chinese citizen to start spending and not saving. Just like you in the United States with your zero savings. The largest fraud in world history is taking place right under your noses. They turn your head to the paltry few as their scapegoats. Bernard Madoff Ponzie scheme and the latest Allen Stanford fraud. Just as they used "terrorists" as a way to get you to spend your money...They are just small players, small potatoes in the big stew, news to get you not to notice the big picture. Eyes Open folks! We argue that not everybody in the Republican and Democratic party is corrupt. Those that are not are doing the best they possibly can in an impossible environment of corruption and big business lobbying. The Federal Reserve banks and friends benefit from Wall Street insider action. They and their friends make big money on the movements of Wall Street in which they engineer and of course have prior knowledge (insider trading). |
How America Finances Its Debt -Glenn Beck |