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Stock Raiding Clause in AIG Bailout Package
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Kurt Nimmo
Infowars
September 18, 2008
I knew there was a good reason not to “play” the stock market. Jim Willie writes for Kitco today:
Hidden inside the AIG bailout funding package, surely hastily cobbled together, but carefully enough to include a totally corrupt clause, was a handy dandy clause that permits raids. The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. This represents unauthorized loans of your stock account assets. So next, if the conglomerate fails, your stock account is part of the bankruptcy process. Finally the corrupt USGovt and corrupt Wall Street houses are desperate enough to put into policy, stated by the US Federal Reserve, outlining the authorized raid of your money. Beware.
In the olden days, this sort of thievery resulted in a rope, a tree, and a horse scared out from under the perpetrator. Now? The government in cahoots with the Fed actually helps the bankers steal the money.
The Financial Times admitted as much on September 14, when it wrote: “The Fed also suspended rules that prohibit banks from using deposits to fund their investment banking subsidiaries.”
As the Naked Capitalism blog notes, this is the opposite of the “narrow banking” that resulted in the wake of the savings and loan rip-off. So called “narrow banking” requires “banks to invest depositors’ funds only in the very safest assets,” but now the sky’s the limit as the bankers are going wild with your money, that is if you are stupid enough to be in the stock market.
Naked Capitalism turns to an email from a former bank regulator on the topic:
I worked as a senior supervisory analyst at the Federal Home Loan Bank of New York in the late 80s/ early 90s when the FHLB (and later the Office of Thrift Supervision) were cleaning up the S&L mess. In reading of this development, I am speechless. The whole point of our job was to minimize risk to the deposit insurance funds, and our bosses really drummed that one into our heads….
The Fed seems to be enabling the very things it should be standing against. If he felt that Treasury needed to subsidize the Merrill takeover Paulson should have asked Congress for explicit appropriations of finite funds. The 23A [Section 23A of the Federal Reserve Act] suspension will make it hard for us to know how much is being risked, at what odds, and for how long. It is a blank check issued under the table.
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I’m no expert on such matters, but it seems obvious what is going on — the Fed and Paulson are opening the floodgates and taking down the hurdles — as minimal as they were — safeguarding depositors. It’s brazen thievery on steroids.
“All too often both bankers and regulators get overconfident during economic booms. However, if the regulators can’t tighten the ship even during a crisis like this one we are lost.”
Tighten the ship? Seems the ship was long ago hijacked by pirates and they are now stripping the rigging, the mizzenmast, the rudder, transom, everything down to the floorboards, the works. Soon we’ll be crammed into a dinghy and sent to face the ravages of Mother Nature.
You can almost hear the smarmy yuppies whining and gnashing teeth as their brokerage accounts are savaged.
It is short comfort to a much larger calamity.
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September 18th, 2008 at 11:35 pm
the horse, the rope, and the tree should be going on right now.
starting with the white house staff, and majority of yhe congress.
the longer we let this go on unanswered, the more powerful the enemy get’s !
September 19th, 2008 at 4:24 am
There goes America and its way of life. Enjoy the sneakers with flahy lights in them.
September 19th, 2008 at 5:41 am
#4
“You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out. If the American people only understood the rank injustice of our money and banking system, there would be a revolution before morning.” – Andrew Jackson
That quotation is taken out of context. President Andrew Jackson was referring to The Second Bank of the United States that had been chartered as the Central Bank since 1816. Jackson intended to rescind the bank’s federal charter.
September 19th, 2008 at 8:58 am
the horse, the rope, and the tree should be going on right now.
starting with the white house staff, and majority of yhe congress.
the longer we let this go on unanswered, the more powerful the enemy get’s
Webprowler I couldn’t agree more. This has been going on far too long.
September 19th, 2008 at 9:16 am
I’m not sure I get the implications of this scam. If I have a savings account with Bank of America, does this mean that they can use my savings to help pay off the bad debt and loans accumulated by Merrill Lynch, their new subsidiary?
This scam, combined with low bank interest really makes me want to take all my money and stuff it under the mattress.
September 19th, 2008 at 9:17 am
My belly is still full of pizza and cokes so I don’t care. Please put me out with the trash.
signed…6-pak joe
September 19th, 2008 at 9:43 am
To control us the Zionists need to make us PENNILESS and HOMELESS and then they think we will beg from them for all our needs.
“Full Responsibility for the First world War, lies squarely on the shoulders of the International Jewish Bankers. They are responsible for millions of dead and dying”. — U.S. Congress – Record 67th Congress, 4. Sitting, Senate Document nr. 346)
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STOP WITH ALL THAT BULLCRAP !!! That was 1000’s of years ago and does not apply today…
The US is killing 1000’s of innocent people a day in the phony war on terror…..NONE of you are doing a thing…NOT a single thing about it but bitch..bitch…bitch and post useless statements about unproven conspiracies, secret this and secret that and concentration camps and martial law and New World Order and for gods sake on and on and on…For your own sake…DO SOMETHING to stop the madness.
September 19th, 2008 at 10:06 am
Yes, do something. Inform yourselves, tell others… But do not react with violence, because that is what the enemy wants; to portray us as all as terrorists… Vote your conscience, and let your opinions be known, and prepare for the day when there are more of us than there are of them.
September 19th, 2008 at 10:13 am
Oh yeah, and mrbucks… How the hell do you know what anybody on this site is ‘doing’ about it? do you know all or even any of us? You’re either a troll or a plant. Go take a suppository and calm down.
September 19th, 2008 at 10:51 am
Patience, I doubt the day will come when there are more of us than there are of them. I’m not sure where you live, but in my hillbilly town here in West Virginia, people still worship Bush. When they aren’t working like slaves for almost no money, they sit in front of their televisions and watch their soaps, American Idol, the NFL, and NASCAR. Every now and then, a news snippit comes along that gives them either a charge of patriotic rhetoric, or someone to blame. Of course all of us aren’t so brainwashed; I’m merely trying to paint the picture of the average joe in my town. For them and I suspect many Americans, their status quo depends on all the “truths” you and I know to be false.
The larger point here is that we may stay the minority but 30 to 40 percent of the population still can’t be ignored. As a former soldier, I swore an oath to protect the constitution from all enemies, foreign and domestic. The Army didn’t teach me how to protect or defend something peacefully. I like the article above because it discusses lynching. I think we can make whoever gets the oval office an honest person. What we need to do is hang the current administration publicly in front of the next president at the inauguration. Someone then needs to look the new president in the eye and declare “you have four years to fix this shit.” I know it sounds like a Nazi tactic (it is), but our current administration has deprived so many of their constitutional rights that they deserve none. Not to mention, while Bush was governor of Texas, he loved handing out the death penalty. Fuck him!
September 19th, 2008 at 11:11 am
Put the kids in the car honey…were getting the hell out of here…we’ll head for the hills!!!
The Federal Security Service of the Russian Federation (FSB) is reporting in the Kremlin today that the Bank of England has received from the United States Federal Reserve Bank a ‘notice’ that President Bush is preparing to declare an ‘Economic Emergency’ during the week of October 5th and will further announce that the American Presidential election due to be held on November 4th will be ‘indefinitely suspended’.
These reports state that the Governor of the Bank of England, Mervyn King, had expressed his ‘shock and outrage’ to his American counterparts at the US Federal Reserve after the catastrophic collapse of one of the largest financial banks in the World, Lehman Brothers, and which caused both the Band of England and the European Central Bank to rush $42 billion into the European economy yesterday to keep it from collapsing, and their own banks from running out of money, necessitating the response from the US Central Bank leader Ben S. Bernanke.
For Full Story:
http://www.restoretherepublic......-elections
Get loaded for bear people…loaded for fucking bear!!!
September 19th, 2008 at 11:17 am
#14 Y
There is no Government…when are you and a lot of other naive Infowars posters going to wake up to this fact???
Bush = NWO puppet!
Cheney = NWO puppet!
McCain = NWO puppet!
Obama = NWO puppet!
The “Government” is merely the stage that the puppet show presides!!!
September 19th, 2008 at 12:14 pm
Yes, good point the end is nigh, though I don’t consider myself naive of the fact that our highest office is controlled and corrupted by outside forces. The truth is, we enable the NWO by tolerating our elected officials perpetuation of it. It doesn’t matter what you call the corrupt system. The fact is, it’s there. The only tool we’ve ever had to keep corruption at bay is checks and balances. Unfortunately, the NWO folks have their talons deep within the all checkers and balancers. So once again, I’ll suggest that we have PUBLIC HANGINGS. It sends the message that if you become corrupt, though you may save yourself the NWO’s wrath, you will not escape the wrath of those you’re supposed to be serving. Who would you be more likely to respond to, a couple of hundred rich old pricks, or a nation of organized angry mobs?
September 19th, 2008 at 12:46 pm
SOLUTION FOR THOSE WANTING TO STOCK UP NOW:
Max out your credit cards in order to purchase survival gear and then subsequently, file Chapter 7 bankruptcy. The bankruptcy court will have to approve it as long as you wait 6 months (180 days) after your last major purchase and not make it look fraudulent.
If you still have credit during the 6 month period, you can use your credit cards to buy groceries, pay rent, utilities, gas and car maintenances during this “waiting” period—just no major purchases. The key is using the right strategy and doing it smart!
As a caveat, my sage advice is to transfer—title ownership only—your house, car, etc. to someone else during the meantime so that the court cannot relegate them. A friend of mine purposely maxed out his credit cards up to $60K then filed Chapter 7 successfully. He still has everything and is now $60K richer in survival gear including guns, ammo, storable food, bunker, etc.
You can do it too but do it now before the imminent collapse of the United States of Hysteria!