Extremely important clip. Please share it anywhere and everywhere across the net. Our only hope to stop the heist will come from greater awareness.
The Federal Reserve Is A Ponzi Scheme
Special request from the publisher of The Daily Bail. I am asking each and every one of you to send this video to 2 people. This is a rare instance in life where just 60 seconds of your time can help change the course of history in the fight against the Fed. Either we win, or Wall Street wins. It's that simple. PLEASE click here to pass it on to the next person. That's all I politely ask.
Thank you so much!
An outstanding discussion, primer and visual lesson on toxic assets, failed banks, the Federal Reserve, HR 1207, auditing the Fed, and the cost to taxpayers.
Dylan puts on his Banker hat and swaps a (literal) bag of trash, on-air, for $13.9 Trillion worth of Monopoly money from a guy wearing a "Fed" hat.
The Federal Reserve — the quasi-autonomous body that controls the US’s money supply — is a “Ponzi scheme” that created “bubble after bubble” in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.
In a wide-ranging discussion of the bank bailouts on MSNBC’s Morning Meeting, host Dylan Ratigan described the process by which the Federal Reserve exchanged $13.9 trillion of bad bank debt for cash that it gave to the struggling banks.
Spitzer — who built a reputation as “the Sheriff of Wall Street” for his zealous prosecutions of corporate crime as New York’s attorney-general and then resigned as the state’s governor over revelations he had paid for prostitutes — seemed to agree with Ratigan that the bank bailout amounts to “America’s greatest theft and cover-up ever.”
Advocating in favor of a House bill to audit the Federal Reserve, Spitzer said: “The Federal Reserve has benefited for decades from the notion that it is quasi-autonomous, it’s supposed to be independent. Let me tell you a dirty secret: The Fed has done an absolutely disastrous job since [former Fed Chairman] Paul Volcker left.
Spitzer resigned as governor of New York in March, 2008, after news reports stated Spitzer had paid for a $1,000-an-hour New York City call girl.
At the time, Spitzer had been raising the alarm about sub-prime mortgages. In the wake of the economic meltdown triggered last fall by sub-prime loans, some observers have suggested that Spitzer may have been targeted by law enforcement because of his high-profile opposition to Wall Street financial policies.
Investigative reporter Greg Palast wrote that federal agents’ revealing of Spitzer’s identity as a call-girl customer was no coincidence.
Palast wrote that the principle of “prosecutorial discretion” is often used to keep the names of high-profile persons out of the media when they are tangentially linked to a criminal investigation. In the case of Spitzer, the Justice Department chose not to invoke prosecutorial discretion.
Funny thing, this ‘discretion.’ For example, Senator David Vitter, Republican of Louisiana, paid Washington DC prostitutes to put him in diapers (ewww!), yet the Senator was not exposed by the US prosecutors busting the pimp-ring that pampered him.
Naming and shaming and ruining Spitzer – rarely done in these cases - was made at the ‘discretion’ of Bush’s Justice Department.
Spitzer recently told Bloomberg News that President Obama’s regulatory reforms of the financial sector are “irrelevant” because regulatory agencies have not been enforcing corporate laws to begin with.
“Regulatory agencies already had the power to do everything they needed to do,” he said. “They just affirmatively chose not to do it.”
PLEASE email, facebook, re-tweet, share and take our stories with you when you leave. Our only weapon against the madness is GREATER AWARENESS. Just by sending this video to a couple friends, you'll be contributing to the formation of an aggressive and educated voter base that understands the economic peril of our failed debt, deficit and spending policies. Thank you.
Video: Spitzer says the Fed is a Ponzi scheme -- Short version
MSNBC Video: Same complete clip as the one at the top of the story -- stored here in case the youtube version gets pulled.