Obama letting the thieves loot the tax payer

This how Mr. change is allowing the fate of our nation been rule by international banks.

First of all while we have been derailed and our anger channeled to the AIG issue (even I felt for) the reality of what is going on is bigger and more manipulated still.

The thieves are running with billions throughout the back door while we concentrate our anger on the AIG.

And guess what Our own president is in it

While now the constitutional issue of the bonuses come into the public eye that is to tell all of us that the President may no even sign the bill to tax the bonuses last night.

Well that is a lie our government has done many other unconstitutional deeds that nobody challenged before but that is not the purpose of this thread

This what is the purpose of this thread.

U.S. Pumping Billions into Foreign Central Banks

This is what the AIG is been hiding out for so long and Glenn Beck was right on his stories so far.

According to the Huffington Post, for over a year now the U.S. Federal Reserve has been pumping hundreds of billions of dollars into foreign central banks, which are then using the funds to bailout financial institutions inside their own borders.

“The program has so far gone unreported in the mainstream media and is a major expansion of Federal Reserve involvement in the global economy,’ Ryan Grim of the Huffington Post writes. “It represents a stark break from the prior role of the Fed, moving it into territory more traditionally occupied by the International Monetary Fund (IMF).”

According to the Huffington Post, the Fed began injecting cash into foreign central banks on Dec. 7, 2007. One year later, the Fed had extended loans to other central banks amounting to nearly $600 billion. According to the Fed’s most recent report, that number is down to $314 billion as many central banks have repaid some or all of their loans.

Many of the banks in question are the same banks that most US wealthiest hide their fortunes oversea to avoid taxation.

Among the foreign recipients of U.S. taxpayer dollars are the central banks of Europe, Japan, Brazil, Australia, Canada, Denmark, England, South Korea, Mexico, New Zealand, Norway, Singapore, Switzerland and Sweden.

Is anybody auditing the FED? nobody.

What the AIG took was nothing compare to what throughout them it has been give away oversea.

Deutsche Bank AG of Germany received $11.8 billion in taxpayer money through AIG. France-based Societe Generale received $11.9 billion and London-based HSBC Holdings, the world’s largest banking group, received $3.5 billion.

www.huffingtonpost.com...

Nothing but crocks and thieves in our government.

Obama is taking lessons in misdirection from Penn and Teller. With this AIG mess no one has apparently noticed the massive budget slash that Obama is giving to the military.

Meanwhile, China and Russia are planning record spending levels to modernize and expand their military programs. Russia wants bases in Venezuela and again in Cuba. We cut back and they expand. Hmmm...

Our Air defenses have been in constant deployment for nearly 20 years and are need of a major overhaul. Obama is spending money on catfish research in Oklahoma. Imagine the economic impact if 700 billion was infused into our defense systems.

We are going to get caught with our pants down under this administration and it is going to hurt.

reply to post by jibeho


That is one that is hard to swallow, how in the hell he is going to go against the veterans in this nation when he knows very well that all those returning from duty from war are majority in need of medical care.

What I don't understand is why the media didn't gave this more attention.

Even my husband that works in a military base and he is also retired Marine only found out about this attack against the veterans in the nation yesterday after the bill was passed.

Obama will not sign the taxation of the AIG bills because is nothing but a game play at the expenses of the tax payer.

He made sure that he surrounded himself with the same fat rats and recycle trash that are behind the butt kissing and protection of corporate American.

Yet, Obama’s White House economist, Larry Summers, on whose watch as Treasury Secretary in the Clinton administration financial deregulation got out of control, invoked the “sanctity of contracts” in defense of the AIG bonuses.

But the Obama administration does not regard other contracts as sacred. Specifically: labor unions had to agree to give-backs in order for the auto companies to obtain federal help; CNN reports that “Veterans Affairs Secretary Eric Shinseki confirmed Tuesday [March 10] that the Obama administration is considering a controversial plan to make veterans pay for treatment of service-related injuries with private insurance”; the Washington Post reports that the Obama team has set its sights on downsizing Social Security and Medicare.

Despicable, now is a constitutional issue.

Give me a frickin brake.

www.economyincrisis.org...

Grr...

I hope we make it through to see who the next administration will be. We can't cut the defense budget.

Instead of cutting defense we need to scrub the budget and clamp down on budget over runs. That would send a very strong message to Russia and China.

Money in the front door and right out the back. It reeks of payoffs.

Hastobemoretolife, already my husband and many that works under the defense contract programs has been warned that by October they will see how much Obama will be dipping into the defense budget.

He is already trimming them as we speak.

My husband works for one of the biggest defense budget contractor in the nation and even they are worry, his contract was for three years now is going to be under review by the end of the year.

No good news at all, still he has sometime to get into civil service work but at a very costly cut, but something is better than nothing.

reply to post by marg6043


I feel ya.

It sucks, in the past 6 months they have already spent the defense budget two times over.

Just like the government, going in and going to try to subvert contract law. It is not good. We have a bunch of mental midgets up in Washington that loath the military.

I hope they don't get their contract cut and if they do I hope there is some kind of legal action they can take to stop it.

Your husband shouldn't have to look for another job the government should start practicing what they preach.

[edit on 20-3-2009 by Hastobemoretolife]

I hear ya too marg6043. The passing of the bill to tax 90% of the bonuses for AIG executives was unconstitutional and without due process. What's next?

Hopefully a revolutionary war. They're out of control and it needs to stop.

I know this was going was going to happen and alot of people like me knew it too, The sad part is that the proof was there and yet everyone ignored it.

Originally posted by marg6043


This is what the AIG is been hiding out for so long and Glenn Beck was right on his stories so far.

According to the Huffington Post, for over a year now the U.S. Federal Reserve has been pumping hundreds of billions of dollars into foreign central banks, which are then using the funds to bailout financial institutions inside their own borders.

Deutsche Bank AG of Germany received $11.8 billion in taxpayer money through AIG. France-based Societe Generale received $11.9 billion and London-based HSBC Holdings, the world’s largest banking group, received $3.5 billion.

Tuesday, giving testimony before the Committee Hearings,
the prepacement CEO of (the bailed-out & 80% taxpayer-owned Firm) 'AIG'... Mr. Edward Liddy revealed :

[paraphrased] "... The ammount of toxic derivatives has already been wound-down to $1.6trillion, from a starting $2.7trillion..."




lets cite www.democrats.com/ with this additional background:

Submitted by Bob Fertik on March 18, 2009 - 9:55am
. Bailouts Spending


We now know AIG traders got their bonuses through blackmail - even CEO Edward Liddy admits it in today's Pentagon Post. The message from the traders is crystal clear: pay us handsomely or we will screw you royally.

Although we have wound down more than $1 trillion [of nearly $3 trillion] in the portfolio of the AIG Financial Products unit that is at the root of the company's troubles, there remains substantial risk in that portfolio. The financial downside for taxpayers is potentially very large, and that's why we're winding down this business.

To prevent undue risk exposure in the meantime, AIG has made a set of retention payments to employees based on a compensation system that prior management put in place.


For the sake of argument, let's stipulate that "the financial downside for taxpayers is potentially very large" since $1.6 trillion in derivatives still need to be wound down. But here's the question: why are we depending on AIG to do it?

Presumably the derivatives in the AIG portfolio have identifiable counterparties. Presumably those counterparties are large financial institutions, just like the counterparties identified by AIG last week.

Is it not a safe bet that those large financial institutions are also recipients of taxpayer bailout money through TARP
or similar European programs?

If that's the case, we have Taxpayers on one side of these derivatives, and Taxpayers on the other side too.

If that's the case, why don't we just let Taxpayers - via the Treasury Department - unwind the derivatives?
[...]

answer... because as i see it, the Treasury is'wanting & willing' to send multi-billions in counter-party payments to European Banks....

keep them hooked on the USD is the logic, never let them wean away from
USA dependancy...
i sorta think the Fed/Treas are deliberately using AIGs corrupted derivatives department (and the individuals earmarked for those Bonuses)
as a convienient conduit to 'Launder' the money to the European Banks & firms which were 'ripped-off' by American Institutionalized Greed (AIG)

reply to post by St Udio


Occurs is a pay off what else could it be after all many in congress are in it.

They all have a lot to lose if information is leaked out.

Remember when I asked you about if you have information of the banks that benefited from TARP abroad, guess what this is exactly what I was looking for.

It didn't took long to see the details coming out now.

This is been going on since 2007, remember the cash infusions now we know were it went.

Now will us the tax payer keep sitting down and just let this fat rats everywhere screw us off.

I wonder.

Now developing countries are looking for China for monetary help because they seat on trillion dollar liquid assets.

Remember when US was condemning them for doing just that in Africa?

Now middle eastern nations are tuning to China for money.

Things are getting really crazy when it comes to the global war that is unfolding right now.

Obama HIMSELF is one of those thieves that is looting the taxpayer.

Obama Chic - Cocktail Parties Every Wednesday

Every Wednesday another party.
It's been decided by Mrs. Obama that it will be every Wednesday.
Earth Wind and Fire ... Stevie Wonder .... booze ... caviar ....
100$ per oz Kolbe Beef .... OT for Secret Service and staff ...

Paid for by US taxpayers. He's a thief and he's looting all us taxpayers.

FlyersFan is so crazy my head is spinning with all the trash that is coming from Washington.

I guess Obama found out very soon after he got his briefings that he either fight and lose or join and reap the benefits of been nothing more than a second hand man and a figure head in Americas big political dirty corrupted pot.

So hey why not enjoy themselves in the white House with cocktail parities and the good life so Mrs. Obama can feel wanted and loved as a hostess while we the rest of the nation tax payer is forgotten in the background while been gouge, raped and step on.

The sad think is that this been going on for many years in America but is until the last few years that we get to see the true colors of politics in America

Wouldn't it be something if this were the proverbial straw, and the jokers at Associates In Greed (AIG) started the revolution without us?

Couldn't blame them a bit...

Originally posted by jibeho
Obama is taking lessons in misdirection from Penn and Teller. With this AIG mess no one has apparently noticed the massive budget slash that Obama is giving to the military.

Meanwhile, China and Russia are planning record spending levels to modernize and expand their military programs. Russia wants bases in Venezuela and again in Cuba. We cut back and they expand. Hmmm...

Our Air defenses have been in constant deployment for nearly 20 years and are need of a major overhaul. Obama is spending money on catfish research in Oklahoma. Imagine the economic impact if 700 billion was infused into our defense systems.

We are going to get caught with our pants down under this administration and it is going to hurt.

I am tired of the MIDC

If you really want to stop them in their tracks, watch this video and order the book.

It works...period.

www.losthorizons.com...'sTimeToLearnTheTruth.wmv


rusty

reply to post by marg6043



good call there marge6043...

considering the cabal of players keep things so opaque & hard to pin-it on them....
(the 'players' are the Fed/Treas, including Paulson, Geithner, Bernanke)


the 2007-2008 monies extended to European banks were 'Loans' as they now say... and the $620billion in funds to those European banks
have supposedly been repaid to the tune of $470billion....

And this is where i'm picking up on your point... of Euro banks getting 'paid-off'...
If, indeed the Euro banks repaid some $470bn of the $620bn in 'Loans'...

i'm thinking the USA has to find some way to again direct $470bn of funds back into those Euro Banks treasuries... And here's where the
bailouts to AIG with the losses in their 'financial products division' comes into play.
Liddy, the replacement CEO at AIG, let his lips flap too much with that $1.6trillion of future payouts news... but, maybe - just perhaps, he's not in on the charade in this money laundering scandal.


thanks,


~~~~~~~~~~

oh, the 2 hr delay was because a friend stopped by
~~~~~~~~~~

[edit on 20-3-2009 by St Udio]

reply to post by marg6043


Please....Halliburton???? I don't know because I wasn't around during the Bush years, but in order to make these comments, you better darn well have been railing against all the fraud that Bush's administration was fraught with for TWO TERMS.

reply to post by St Udio


You forgot one more of the rats,

Obama’s White House economist, Larry Summers, on whose watch as Treasury Secretary in the Clinton administration financial deregulation got out of control, invoked the “sanctity of contracts” in defense of the AIG bonuses.

www.economyincrisis.org...

When I saw Obama surrounding himself with all the trash from the Clinton administration I knew that we were heading the same path that the previous president took, to benefit corporate America.

You are right this no over yet and the fed will keep printing behind our backs with the help of Geithner until the rest of the 1 and half trillion dollars still in the balance books of the AIG is pay off.

Look at the bubble now that is bursting and it will be in the news in a few more days.

The credit card bubble.

Now how many big banks abroad is caught on that one? this is not over yet.




[edit on 20-3-2009 by marg6043]

SO where's all the obamamites who supported this fool of an illegitimate president?

This is an "I told you so" moment. All of us who saw through obamas lies told you he was no good, an idiot, a shill for the NWO.... NOW THAT IT IS TOO LATE DO YOU BELIEVE?

Dr. Gheetar

Originally posted by Caminhando

Please....Halliburton???? I don't know because I wasn't around during the Bush years, but in order to make these comments, you better darn well have been railing against all the fraud that Bush's administration was fraught with for TWO TERMS.

You are right my friend, but just like Bush could stop the leaching on the economy he didn't do it.

Now Obamas problems are the same, but his approach is not looking very good either.

Letting the Fed run the show just like Bush did is no looking very good for him.