posted on Oct, 9 2008 @ 06:36 AM
A few things bother me about the Fed lending directly to corporations:
1. The transnational corporations acquire loans from the Fed will have an unfair advantage and influence in the marketplace versus those
transnational corporations that are not assisted directly by the Fed.
2. The Fed will be in a position where it is legally able to seize a company that it lends to at any time for any reason through the basic fact that
it can call in its loans at any time.
3. Lending directly to defense corporations and oil companies; well, that's just scary for a number of reasons.
4. The Fed is in control of the US money supply. Because of that, along with lending directly to multinational corporations, it bypasses the systems
of checks and balances of foreign governments. I.E., foreign banks and underwriters, the foreign laws and policies that they observe, are completely
5. The Fed will be in the prime position to further abuse its power by pitting nations against nations through its ability to lend to directly to
transnational corporations that provide vital goods and services to foreign countries and governments. In short, governments can be influenced by the
aims of the Fed -- rather than by the heads of state of those governments or the people that those governments serve.
6. There is no oversight of The Federal Reserve or its board.
We should be concerned. To say the least.