Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information, page 2

I believe I've heard of the Clearinghouse before.
DEFINITION
FUNCTION


Clearing House Inter-Bank Payments System (CHIPS) A US bankers' clearing house for paying and accepting funds. It is an electronic system operated through terminals in bank branches. Participating banks must be members of the New York Clearing House Association or affiliates of it, for example foreign banks operating in the USA can only take part through selected correspondents among the 12 New York Clearing Houses. Outside New York, similar transactions are undertaken through Fedwire, a clearing system for members of the Federal Reserve System.


Some functions might be settling the DIFFERENCES of balances between banks -- both in other countries and in the US.

When you use a Credit Card -- it doesn't really cost most banks any money. If a Wachovia card holder makes a purchase at a company with an account or loan from Wachovia -- they merely record the balances. If it's from a company with debts on Chase - then they settle on the "margin" -- the difference at the end of the day between Wachovia and Chase's outstanding credit. Low cost, intra-day loans usually cover this, so they don't always send a money transfer -- since it's quite possible, Chase will get a credit on Wachovia the next day. The Clearinghouses, are likely the official body overseeing these intra-bank payments and settle issues once a month (I don't really know). Most of the transactions are electronic.

In fact, in the movie "Catch me if You Can" -- one of the scams of the main character defrauding banks, was he got a hold of a magnetic ink bank draft machine and started printing money transfers to his accounts. Nobody looked at these drafts -- as there are thousands processed a day unseen by human eyes.


>> Nothing nefarious at all with a "Clearing House." However, without regulation oversight -- or regulators who are corrupt, a Clearinghouse could be used to drain a bank, and then let it go "bankrupt" while the money goes anywhere to some "bag man" bank that holds the proceeds. The people running the bank - are not THE bank, and so they can reap their rewards on the side.

Likely, the banks have been trying unethical means to solve problems -- or have been putting the jewelry in the life boats.

For example, AIG "lost" all its money to Goldman Sachs, AIG got the huge bailout "or the sky would fall" and then Goldman Sachs has huge bonuses and record profits when AIG becomes solvent. Who knows if GS will need a bailout, while AIG holds the money bag? Anyway, if you look at GS -- they've been involved in every major banking calamity -- and profited, in the past 100 years. We bailed out Mexico and GS reaped huge rewards.


>> The only question I have is whether the Banksters are just trying to solve a problem that ballooning credit would have created anyway (our banking system, is geared for failure over time because it CREATES DEBT - that can never all be paid back), or they are trying to bankrupt everyone and rule the world. Likely, it's a combination of both.


>> Regardless of auditing the Fed -- there is already going to be bank collapses (or consolidation into some government eating "world bank"), thanks to that cute little rule that allowed all these gamblers in Finance to become banks without ever having to meet reserve requirements or local lending practices -- I'm talking about you Merryl. Here is a good article on more chunks of the sky falling.

If you want to avoid looking like an ass, and not speculating about Clearinghouses -- there is PLENTY OF COLD HARD FACTS TO SUPPORT CHARGES OF CORRUPTION OF FAILURE OF THE FED RIGHT HERE.

We haven't had a slow week of behind the scenes problems in months.

reply to post by VitriolAndAngst

---

It was more of an answer to these crooks of "Give us power over you and let us do what we want or else!". If that's the choice, then fine let it fail. Call their bluff. They're only out to cover thier own butts. They know that when what they've been up to comes public their future looks rather bleak. Look at how angry people in general are with banks with just the tidbits that's been out there for years.

I certainly understand that a systemic collapse is not something to want lightly. We're talking about the collapse of our country. It's the banksters that are threatening that. If this came to pass, I think people in general would band together for the most part, yeah you would have the usual looters and such, but when a society as a whole as been scammed for years, I don't think the riots would be like the race riots in LA after the rodney king affair. These banksters are robbing everyone of every creed, color, belief and every other thing you can think of.

These banksters and the politicians in their pockets are out of touch with reality and they think they can run roughshod over us and face no consequences. I think congresscritters are getting a preview of it over this health care plan. We're at the tipping point and no matter if the system continues on or it falls flat on it's face, it's going to get worse. I don't have a crystal ball and a systemic collapse would be totalt chaos frought with so many unknowns. One thing I do know for sure, we're losing our livlihoods, we're losing our quality of life and a collapse may be a way we can start reclaiming it.

Originally posted by Hx3_1963
Here's a list for ya...

Any names look familiar???

The Biggest bunch of Crooks in the World...all sitting at the same table playing "Monopoly" with our Futures/Money...

TCH Board
www.theclearinghouse.org...

The Senior Executives of owner institutions serve on the TCH Board of Directors. The Board provides strategic direction and leadership.

James Dimon
(TCH Board Chairman)
Chairman & CEO
JPMorgan Chase

Kenneth D. Lewis
CEO and President
Bank of America

Kelly S. King
CEO
BB&T Corporation

Robert Kelly
CEO
The Bank of New York Mellon

Masaaki Tanaka
President & CEO
Union Bank of California, N.A.

Vikram Pandit
CEO
Citigroup

Ellen Alemany
Chief Executive Officer
RBS Americas & Citizens Financial Group

Ralph W. Babb Jr.
Chairman & CEO
Comerica Incorporated

Seth Waugh
CEO
Deutsche Bank Americas

Paul J. Lawrence
President & CEO
HSBC Bank USA

Henry L. Meyer III
Chairman, President & CEO
KeyCorp

James E. Rohr
Chairman & CEO
PNC Bank

Teresa M. Ressel
CEO, UBS Securities LLC
UBS Investment Bank

Richard K. Davis
President & CEO
U.S. Bancorp

John G. Stumpf
President & CEO
Wells Fargo Bank

Now that youve listed the people, you need to do the followup. Gather a bunch of fellow hackers togeather and go after these criminals. Hit em in the pocket book. If money is what they love then take it from them. Remind them that Even Gods can fall into the pit when the people are pushed too far.
Someone already did it to bernake when they stole his ID.
Course thats just the Begiining, if you really want to get these criminals and not just talk about it. Cut em off at the knee caps, and MAKE THEM SUFFER. Cause they love to see the regular people suffer.

Well folks some fine mess we have gotten ourselves into huh?

I say we, because as I point this out, we as a collective have let this happen over time and thru our voting. I don't want to hear about Libral and Conservative, because frankly, lately we are finding out most of us are in the middle between two extremes.

I am going to use right and left just to make a picture clear.

On the Right, we have the International Bankers, whom at the current time could pull the plug on us with their money. Yes their money, we have not made our own since 1913, except for the attempt by JFK. That did not turn out too good.

On the Left, We have this whole new Executive Branch that has been working on getting into power since the 60's, they are very close and just need the right to fail. maybe.
This faction would be the Apollo Alliance that would rather turn everything upside down and have an Oligarchy. Yes this does include Obama, but he is not the total power. You want information on this deal, there is another Thread that is still collecting information and on page 5 with mostly information, lots of video. I am sorry that Glenn Beck is the only one covering this, but all the information checks out.

The connection to this and the law suit, is the fact that Obama is letting it go ahead. Bush beat this down during his years by abusing the "classified information" law. Why would Obama not do the same to protect all the coruption in the Govt?
It's not because he is snow white.

So we are stuck in the middle.
How do we take out the right, without the left taking advantage and taking over. This is the slippery path that we are going down and most of us can't see both sides at once.

I can tell by the responses on the threads and what types are responding that everyone is on the divide. I am guilty of it myself. But we really should start looking at a bigger picture or fall into the hands of one or the other. I know there are way to many smart people on ATS to have this happen here.
What we don't control, but could affect, yes little old us here on ATS, is what the rest of the population does. They are just ignorant in the true sence of the word. They just don't know................

I know how the right likes to bash;
Al Gore
Michael Moore
Greg Pallast (one of the last journalists left)
and Barney Frank
(been a little easy on Barbara Streisand, probably because she got quieter -- they love us when we roll over and take it).

>> Actually, anybody who is a whistleblower, somehow is suddenly noticed as too fat, a bad tipper, or somehow obnoxious.

But if Barney Frank pushes through the audit the Fed bill -- I hope everybody puts him forever on their list of THE GOOD GUYS.

We have to reward people who do the right thing, and there has to be some bases for judging people, other than a bunch of internet rumors (from the bad guys out there).

>> Yeah, I admit it, I'm a Progressive. I'm a Kucinich fan, I like Howard Dean, and I am aware that Al Gore had a daddy who made bank on Tennessee Tobacco, but he actually did spearhead the government initiative to create the internet and I don't think I've caught him lying on Global Warming. This is only by default however -- because I've caught all the other politicos and pundits lying to my face -- and you don't get a second chance.


>> Being on the other side of this threatened collapse by the bankers -- means that someone isn't just making a PRETEND audit. If Barney suddenly gets rich, and then a panel of industry insiders does the mock inquisition routine -- well then, Barney was just doing the political game of fund raising via committee, which is the status quo -- and I'll throw him under the bus with Paulson.

reply to post by j2000

---

Dude, I do not trust Obama YET. But you are comparing the REAL crimes, the obvious attack on liberty and bankrupting America -- to ALLEGED theories of potential bad doings by Obama based on stuff from the half-sane Glenn Beck.

Seriously?

Obama might have been influenced by the Chicago economists -- but that would make him the typical "drinking the economic cool aid" supply-side Republican. He stimulated from the top down -- but we don't know if he had a gun to his head at the time.

We don't really KNOW much of anything.

But the people we KNOW are crooks, who lied us into war, who approved torture, who gave tax breaks while breaking our backs on two illegal wars -- NOW they are telling everyone all the scary stuff on the left.

That Obama attended a college group, with a guy who repented being in the Weatherman group 40 years ago, and has happily co-existed with all the dang Republicans in that board who somehow aren't closet terrorists --- geez, wow. I'm so scared of an old guy who was angry at the Vietnam war and destroyed some buildings having a conversation with my President a long time ago.


>> While Fox News hires; a terrorist and Felon, a bunny ranch moralist, won the right to lie in the Supreme Court, and keeps on the payroll a guy like Glenn Beck who cries into the TV and asks everyone to riot.

How could I not be overwhelmed with confidence at this attack of the Socialists?

There is one HUGE group to really be afraid of, and that is the Corporatists -- and we have piles of evidence for this faction. I'm not going to be afraid of Cash for Clunkers or socialized Medicine. I would trade the government of Denmark for the government of Mexico any day of the week.

Originally posted by VitriolAndAngst
But if Barney Frank pushes through the audit the Fed bill -- I hope everybody puts him forever on their list of THE GOOD GUYS.

I think we can thank Ron Paul for the Audit the Fed bill not Barney Frank.
www.govtrack.us...

reply to post by VitriolAndAngst

---

I guess you did not read about the Apollo Alliance. Go there, watch, read and try to debunk Glenn Beck all you want. That is one thread that is very hard on not only Obama, but all his Czars and Cronies.
Yet, non of the Obama crowd on here will touch it with a ten foot pole. There is nothing to defend for them on this one.
You are not seeing the whole picture and that is all there is too it. You just want to see the Right without seeing the Left for what it is right now.

Originally posted by j2000
reply to post by VitriolAndAngst

---

I guess you did not read about the Apollo Alliance. Go there, watch, read and try to debunk Glenn Beck all you want. That is one thread that is very hard on not only Obama, but all his Czars and Cronies.
Yet, non of the Obama crowd on here will touch it with a ten foot pole. There is nothing to defend for them on this one.
You are not seeing the whole picture and that is all there is too it. You just want to see the Right without seeing the Left for what it is right now.

Truely, this is as bad as the PNAC -- I read hear that their mission is to find efficient clean energy! -- oh Lord, please save us from people who like breathing and who want a sustainable future or force me to be able to afford health care.

The "Left" doesn't want to touch this? What, yet another bashing of Labor and "people for breathing?"

You know WHY people on the left, don't bother to discuss things with anyone who listens to Glenn Beck? Because no discussion in the world, is going to make up for the medication and therapy that a trained Psychiatrist should be administering. We don't need the malpractice lawsuit.
EVIDENCE OF THE APOLLO CONSPIRACY

Here's a few other of Beck and Kerpen's missteps, followed by the truth:

Kerpen described the Apollo Alliance as a "radical organization" designed to "bring together elements of organized labor with the community organizers with the green groups, the environmental groups."

Truth: Of course, social justice leaders, environmental groups, and labor unions are part of the Apollo Coalition. That's the point of the alliance. But Beck left out a bunch of "radical" business groups that are also part of the Apollo Alliance, like PG&E and Google, two of the most successful corporations in the country.

Beck credits the Apollo Alliance for helping design the economic stimulus package, passed in February, and infers that they did this behind closed doors.

Truth: The Economic Recovery Act, which totaled over $800 billion, had many influences. The Apollo Alliance released in December, 2008 a paper with suggestions for the bill, many of which were incorporated into the American Recovery and Reinvestment Act. One important part was the "down-payment" of more than $100 million dollars for green-collar job creation.

Wake me up, when the projecting Conservatives, can conjure up a shady conspiracy that is as dangerous as the one they have been involved in.

Like I said, a bunch of war profiteers, telling me to worry about Green Peace and Unions isn't a convincing argument. If there is an evil conspiracy from the left -- I don't see any of these drive-by Liberals like Oprah spending any money on it. Wealthy Liberal Elite are not spending money like Richard Melon Scaithe.

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