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Originally posted by poet1b
reply to post by JJRage4202003
As I see it, the ICBers are to our current times what the Catholic church was to the dark ages, a sneaky, controlling body that maintains its power through deception.
We need to throw off the yoke of the International Corporate Bankers in order to regain control of our country.
A sad part is that lots of people would rather be deceived.
A Bloomberg Markets article published Nov. 27 said the central bank had lent or guaranteed $7.7 trillion as of March 2009 to rescue the financial system. It also estimated that the big banks, including Bank of America(BAC), JPMorgan Chase(JPM), Wells Fargo(WFC) and Citigroup- made about $13 billion in profits by taking advantage of money lent by the Fed at below-market rates.
Bernanke said that the total credit outstanding under liquidity programs never exceeded $1.5 trillion. He said the inaccurate and misleading estimates by various articles could be based on several errors including "double counting".
Also, the article failed to mention that the emergency lending program had made money for American taxpayers. The program generated $20 billion in interest income for the Treasury. Moreover, in 2009 and 2010, the Fed returned over $125 billion in excess earnings on its operations, including emergency lending, he noted.