While the MSM is busy making goo goo eyes at the number of zeros in the paychecks of banking executives we at Conunderground prefer to maybe give you a glimpse of how some, if not most, of that money has been made.
This particular form of theft works as follow. The Obmunists are providing free money, that is they charge nothing for banks to borrow money with which they are allowed to buy treasuries. Then the government buys back the treasuries from the banks – with your money. The banks in turn invest the money in the stock market to give the impression that the market is in good shape.
The bankers win, Obama looks good, and you, well, you get to pay and if you die before you can pay don’t worry this debt is fully transferable to your children – yes it is serfdom and you and I and our children are as of now serfs to the socialist government and bankers.
As if this isn’t enough to make the hair stand on the back of your neck understand that the banks in question are not just US banks. In fact a good portion of this, some say the majority of it, is going to foreign banks, yes, the Chinese.
The official organs have dismissed this as “conspiracy theory” but evidence is on our side. As you know, the equities markets have gone straight up, obviously as a result of purchases but who is buying and with what funds? We know that small investors aren’t participating so that leaves the large institutions as the ones who would be doing the buying. Well the rub is that the amount of declared cash reserves that is on the sidelines hasn’t got down not even an iota and certainly not enough to suggest that the 30% market increase was funded by that. So where did the money come from? Well see the above paragraph , you gave it to them!
Also additional evidence came last week in a statement form the Bank of Japan. Japan, as you might know, is suffering from about 14 years or so of the kind of economic malaise that Obama has inflicted upon us in the past two years. Japan, by the way, is the originator of “Quantitative Easing”. Last week the bank of Japan speculated that they might extend their “quantitative easing” to the purchase of equities.” Equities surged worldwide after the Bank of Japan decided to cut its interest rate to “virtually zero” and create a fund to buy bonds and other assets to stoke the economy.” Business Week
Understand that the Bank of Japan and our own Fed coordinate their activities very very closely and that this statement was as close to a confession to mess we are in and to the extent to which the central banks are willing to go to continue their insane policies. So much for us crazy conspiracy theorists.
So now we have the Bank of Japan the central bank for the second largest economy on the planet openly speculating that buying stocks with taxpayer money is something that they should be doing. As I described above Obam is already doing this only without leaving any finger prints and without having to disclose anything. They lend out money for free to banks, the banks buy treasuries, we then buy them back and the bankers pocket some of the profits and buy stocks with the rest.Click here to see the amount of money spent by your Federal Reserve ( the NY Fed that is) to buy back the loans they just sold not long ago.
Reality, as we all know, is that we are broke and in debt up to our eyeballs. Ask your self this simple question, why are we buying billions and billions of dollars of our own debt while at the same time issuing more and more debt?
If you can’t come up with a good answer just take a look at the record 144BILLION DOLLARS IN BONUSES that Wall Street is giving out – not bad for a an industry that just 16 month ago was about to go into “total meltdown” as Obama said.