The FED Has Spoken: No Bailout For Mainstreet

The FED Has Spoken: No Bailout For Mainstreet

www.webofdebt.com

The Federal Reserve was set up by bankers for bankers, and it has served them well. Out of the blue, it came up with $12.3 trillion in nearly interest-free credit to bail the banks out of a credit crunch they created. That same credit crisis has plunged state and local governments into insolvency, but the Fed has now delivered its ultimatum: there will be no “quantitative easing” for municipal governments.

On January 7, according to the Wall Street Journal, Federal Reserve Chairman Ben Bernanke announced that the Fed had ruled out a central bank bailout of state and local governments.

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Well, it seems the US has a bit of a problem. We know trickle down and Keynesian economics only benefit the bankers, so this is I guess the biggest slap in the face to date.

The only way municipalities and local governments will be able to get solvent, will be to raise YOUR taxes to ridiculous levels!

I am wondering if this is deliberate provocation? What does Bernake expect to happen now? All those taxpayers are going to just hand over 50% or more of their already cut back salaries to support an inefficient and technically defunct system of "administration."

This looks to me like a full and clear "shot" across the bow of the USS Titanic.

Cheers - Dave

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(visit the link for the full news article)

reply to post by bobs_uruncle

$12.3 trillion in nearly interest-free credit to bail the banks out of a credit crunch they created.

And yet how many interest free loans do you think the tax payer gets??
What would that have done to save Businesses, jobs and homes..??

Despite all their bonus payments and huge salaries, I don't think I'd like to be in a Bankers shoes ATM..
People are waking up anf they AIN'T HAPPY !!

Well now you know where you stand and whats coming .Now whats coming for them ! They have bitten off more than they can chew and are soon going to choke on it .As Gerald Celente say's , when people have nothing left to lose .THEY LOSE IT !!!

Originally posted by 13th Zodiac
Well now you know where you stand and whats coming .Now whats coming for them ! They have bitten off more than they can chew and are soon going to choke on it .As Gerald Celente say's , when people have nothing left to lose .THEY LOSE IT !!!

edit on 13-1-2011 by 13th Zodiac because: (no reason given)

edit on 13-1-2011 by 13th Zodiac because: additional text

edit on 13-1-2011 by 13th Zodiac because: (no reason given)

Thanks for posting. Maybe this is the point. Bernake seems to have all the appearance by his actions of being an agent provocateur hiding in plain sight. What better way to accelerate complete disdain, a rather light term, for the government through increased taxation, thereby initiating tax revolts and accelerating the fall of the US. That way martial law can be introduced quickly. You gotta know it's a trap right? There's only one problem, the center of the bridge is missing and you still have to get to the other side, so you have to go through the trap it seems. There appears no way around it.

I don't like what I see coming and I don't see a viable way to move around it. And no, I don't think I would want to be banker in say a month or so, things seem to be accelerating from all the news reports. What I don't understand is the absolute ignorance of the bankers and their puppets, the politicians. They are relying far too heavily on assuming people will remain apathetic, which I don't feel will be the case. But who knows, maybe the conditioning has taken hold of 95% of the general population (a term used in prisons too).

Cheers - Dave