to further enrich the oligarchs.
https://www.corbettreport.com/federalreserve/

G. Edward Griffin: What happened is the banks decided that since there was going to be legislation anyway to control their industry, that they wouldn’t just sit back and wait and see what happened and cross their fingers that it would be OK. They decided to do what so many cartels do today: they decided to take the lead. And they would be the ones calling for regulations and reform.

They like the word “reform.” The American people are suckers for the word “reform.” You just put that into any corrupt piece of legislation, call it “reform” and people say “Oh, I’m all for ‘reform,'” and so they vote for it or accept it.

So that’s what they were doing. They decided, “We will ‘reform’ our own industry.” In other words, “We will create a cartel and we will give the cartel the power of government. We’ll take our cartel agreement so we can self-regulate to our advantage and we’ll call it ‘The Federal Reserve Act.’ And then we’ll take this cartel agreement to Washington and convince those idiots there to pass it into law.”

And that basically was the strategy. It was a brilliant strategy. Of course we see it happening all the time, certainly in our own day today we see the same thing happened in other cartelized industries. Right now we’re watching it unfold in the field of healthcare, but at that time it was banking, alright?

And so the banking cartel wrote their own rules and regulations, called it “The Federal Reserve Act,” got it passed into law, and it was very much to their liking because they wrote it. And in essence what they had created was a set of rules that made it possible for themselves to regulate their industry, but they went even beyond that. In fact, it’s clear to me when I was reading their letters and their conversation at the time, and the debates, that they never dreamed that Congress would go along and also give them the right to issue the nation’s money supply. Not only were they now going to regulate their own industry, which is what they started out as wanting to do, but they got this incredible gift that they didn’t dream would be given to them (although they were negotiating for it), and that was that Congress gave them the authority to issue the nation’s money. Congress gave away the sovereign right to issue the nation’s money to the private banks.

So what, precisely, did this conclave of conspirators devise at their Jekyll Island meeting? A plan for a central banking system to be owned by the banks themselves, a system which would organize the nation’s banks into a private cartel that would have sole control over the money supply itself. At the end of their nine-day meeting, the bankers and financiers went back to their respective offices content in what they had accomplished. The details of the plan changed between its 1910 drafting and the eventual passage of the Federal Reserve Act, but the essential ideas were there

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Much more at the link. Take care and be well gjohn!

This adds on to what Lookout posted above on the Federal reserve. I posted this article in a previous essay and it's an eye opener. It should be read at its source to get the whole effect. Actually most articles should be if you want the whole picture instead of just excerpts. IMO.

Welcome to Sweatshop Amerika!

Imagine if the congress approved a measure to form a public-private partnership between the US Treasury and the Federal Reserve. Can you imagine that?

Now imagine if a totally captured congress panicky and ill-informed Congress gave the Fed a blank check to bail out all of its crooked crony corporate and Wall Street friends, allowing the Fed to provide more than $4.5 trillion to underwater corporations that ripped off Mom and Pop investors by selling them bonds that were used to goose their stock prices so fatcat CEOs could make off like bandits. Imagine if all that red ink from private actors was piled onto the national debt pushing long-term interest rates into the stratosphere while crushing small businesses, households and ordinary working people.

Now try to imagine the impact this would have on the nation’s future. Imagine if the Central Bank was given the green-light to devour the Treasury, control the country’s “purse strings”, and use nation’s taxing authority to shore up its trillions in ultra-risky leveraged bets, its opaque financially-engineered ponzi-instruments, and its massive speculative debts that have gone pear-shaped leaving a gaping black hole on its balance sheet?

Well, you won’t have to imagine this scenario for much longer, because the reality is nearly at hand. You see, the traitorous, dumbshit nincompoops in Congress are just a hairs-breadth away from abdicating congress’s crucial power of the purse, which is not only their greatest strength, but also allows the congress to reign in abuses of executive power by controlling the flow of funding. The power of the purse is the supreme power of government which is why the founders entrusted it to the people’s elected representatives in congress. Now these imbeciles are deciding whether to hand over that authority to a privately-owned banking cartel that has greatly expanded the chasm between rich and poor, incentivized destructive speculation on an industrial scale, and repeatedly inflated behemoth asset-price bubbles that have inevitably blown up sending stocks and the real economy into freefall. The idea of merging the Fed and the Treasury first appeared in its raw form in an article by former Fed chairman Ben Bernanke and Janet Yellen in the Financial Times. Here’s a short excerpt from the piece:

“The Fed could ask Congress for the authority to buy limited amounts of investment-grade corporate debt… The Fed’s intervention could help restart that part of the corporate debt market, which is under significant stress. Such a programme would have to be carefully calibrated to minimize the credit risk taken by the Fed while still providing needed liquidity to an essential market.” (Financial Times)

But notice how Bernanke emphasizes how “Such a programme would have to be carefully calibrated to minimize the credit risk taken by the Fed”. Why do you think he said that?

He said it because he anticipates an arrangement where the new Treasury-Fed combo could buy up to “$4.5 trillion of corporate debt” (according to Marketwatch and BofA). And the way this will work, is the Fed will select the bonds that will be purchased and the credit risk will be heaped onto the US Treasury. Apparently Bernanke and Yellen think this is a “fair” arrangement, but others might differ on that point.

Keep in mind, that in the last week alone, investors pulled a record $107 billion out of corporate bonds which is a market which has been in a deep-freeze for nearly a month. The only activity is the steady surge of redemptions by frantic investors who want to get their money back before the listing ship heads for Davey Jones locker. This is the market that Bernanke wants the American people to bail out mainly because he doesn’t want to submerge the Fed’s balance sheet in red ink. He wants to find a sucker who will take the loss instead. That’s where Uncle Sam comes in, he’s the target of this subterfuge. This same theme pops up in a piece in the Wall Street Journal. Check it out:

This is the contempt these people have for you and me and everyone else who isn’t a part of their elitist gaggle of reprobates. Here’s a clip from another article at the WSJ that helps to show how the financial media is pushing this gigantic handout to corporate America:.

Fair use so read the rest yourselves to see how bad this is.

History does repeat itself.

More from the essay

What Matt means:

$6 trillion at 0% interest means you can buy up America, the world really, and essentially rent it back out to the peasants at 2%, 4%, 10%, 20% by buying Treasuries, housing, real estate, MBSs, REITs, ETFs, stocks, natural resources, etc. etc..

How bad do we get screwed? Bigly.

This is from March 25 and not a lot has changed since then. Evictions are happening across the country, but you wouldn't know it unless you read alternative media sources. The main stream media cannot tell you what the elite are doing. Of course not because people might get ideas that we should put a stop to it.

Hey Nancy did your prayers help this woman not be kicked out of her home over medical bills that she was not responsible for? Hell no, but then you knew that your gawd wouldn't lift a finger for those in need in this country because he hasn't since it was created and we began our history of treating the vulnerable and less fortunate abominably. Again take your prayers and shove them. Sideways and hard you worthless bag of bones and water!!