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Thursday, December 23, 2010

DARK SIDE OF SIS: AGENTS SEARCH HOME OF PILOT CRITICAL OF TSA

Sacramento-area pilot punished for YouTube video

George Warren Posted: 12/22/2010


SACRAMENTO, CA - An airline pilot is being disciplined by the Transportation Security Administration (TSA) for posting video on YouTube pointing out what he believes are serious flaws in airport security.

Update: Whistleblowing pilot explains why he did it

The 50-year-old pilot, who lives outside Sacramento, asked that neither he nor his airline be identified. He has worked for the airline for more than a decade and was deputized by the TSA to carry a gun in the cockpit.

He is also a helicopter test pilot in the Army Reserve and flew missions for the United Nations in Macedonia.

Three days after he posted a series of six video clips recorded with a cell phone camera at San Francisco International Airport, four federal air marshals and two sheriff's deputies arrived at his house to confiscate his federally-issued firearm. The pilot recorded that event as well and provided all the video to News10.

At the same time as the federal marshals took the pilot's gun, a deputy sheriff asked him to surrender his state-issued permit to carry a concealed weapon.

A follow-up letter from the sheriff's department said the CCW permit would be reevaluated following the outcome of the federal investigation.

The YouTube videos, posted Nov. 28, show what the pilot calls the irony of flight crews being forced to go through TSA screening while ground crew who service the aircraft are able to access secure areas simply by swiping a card.

"As you can see, airport security is kind of a farce. It's only smoke and mirrors so you people believe there is actually something going on here," the pilot narrates.

Video shot in the cockpit shows a medieval-looking rescue ax available on the flight deck after the pilots have gone through the metal detectors. "I would say a two-foot crash ax looks a lot more formidable than a box cutter," the pilot remarked.

A letter from the TSA dated Dec. 6 informed the pilot that "an administrative review into your deputation status as a Federal Flight Deck Officer has been initiated."

According to the letter, the review was directly related to the discovery by TSA staff of the YouTube videos. "The content and subject of these videos may have violated regulations concerning disclosure of sensitive security information," the letter said.

The pilot's attorney, Don Werno of Santa Ana, said he believed the federal government sent six people to the house to send a message.

"And the message was you've angered us by telling the truth and by showing America that there are major security problems despite the fact that we've spent billions of dollars allegedly to improve airline safety," Werno said.

The pilot said he is not in trouble with his airline, but a supervisor asked him to remove public access to the YouTube videos.

He does, however, face potential civil penalties from the TSA. He said he would likely go public when it becomes clear what the government plans to do with him.

CHINA READY TO 'BAIL OUT' EU - Fresh humiliation for eurozone as China says it will bail out debt-ridden nations

By DAILY MAIL REPORTER
Last updated at 4:14 PM on 23rd December 2010




China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund.
In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important areas for China's foreign exchange investments.
The country has already approached struggling European countries with financial aid, including offering to buy Greece's debt in October and promising to buy $4billion of Portuguese government debt.
'To have any discernible effect China will have to buy a lot more than 5billion euros if they expect to have any impact on the negative sentiment surrounding Europe,' said Michael Hewson, currency analyst at CMC Markets.
China's astonishing economic growth has put it on track to overtake America as the world's economic powerhouse within two years, a recent report claimed.
But experts believed still be some years before America's leadership role is really challenged - largely because Beijing has given no indication it is ready to take on the responsibility of shepherding the world' economy.


This foray into the future of the euro could be a signal from Beijing that it is ready to change that perception.
The euro rose temporarily on the news of China's support - but was sinking again this morning to a three-week low against the dollar.
Protest: Strikers carrying placards demonstrate outside the Greek Parliament in Athens. Greece is among a number of EU countries struggling financially
Protest: Strikers carrying placards demonstrate outside the Greek Parliament in Athens. 
Greece is among a number of EU countries struggling financially


The single currency earlier fell to around $1.3050, below its 200-day moving average currently located at $1.3092 on trading platform EBS. 
Investors have pushed the euro beneath this key support level for the past three sessions, only to see the currency bounce back later in the day.
Analysts said the euro will likely hold above $1.30 in the coming days, with traders reluctant to place big bets before year-end.


The outlook for the single currency remains shaky, with fresh losses expected into 2011, they added.
The Financial Times reported yesterday that China had offered to take more 'concerted action' to support European financial stabilisation.
It cited unnamed senior European officials after talks with Chinese Vice Premier Wang Qishan.
Portuguese officials have said the government is trying to diversify its debt investor base, with China as a priority.
Finance Minister Fernando Teixeira dos Santos met Chinese Finance Minister Xie Curen and the head of the People's Bank of China during a visit to the country last week.
But it is unclear whether Beijing would be prepared to take on so much fresh exposure to Portugal, after domestic political pressure to invest the country's foreign reserves more carefully.
Chinese investment funds suffered from large, high-profile losses during the global financial crisis.
In October, during a visit to Greece, Chinese Premier Wen Jiabao offered to buy Greek bonds when Athens resumed issuing.
A month later, President Hu Jintao visited Portugal and offered 'concrete measures' to help the weak economy, but stopped short of promising to buy Portuguese bonds.
It is still believed that it will be some years before China actually overtakes the U.S. to become the world's largest economy.
Politicians argue that technology is still behind and much of the country still lives in poverty. 
And in another economic measure, output per person, China lags way behind the US. 
Last year, the International Monetary Fund calculated gross domestic product per head in the US at $46,000. The GDP breakdown in China was just $4,000 per person.


THE LOCOMOTIVE DRIVING THE WORLD ECONOMY

China could overtake America as the world’s biggest economy within two years, according to a leading financial think tank.
As growth in the U.S. slows down to a virtual standstill, China’s economy is revving up into double digits, the Conference Board said in a report published today. 
In purely dollar terms, it is going to take much longer than two years for China’s $5 trillion economy to match up to the $15 trillion output in the US. 
Even if the Chinese can sustain their current growth, it would take another ten years.
But in terms of purchasing power, taking into account the goods and services a country actually buys at home, China is well on its way to outstripping its fading competitor. 
Looking even further ahead, the Conference Board predicts China could account for almost one quarter of the global economy in 2020, compared to 15 per cent for the US and 13 per cent for Western Europe. 
The board predicted China’s economy should grow 10 per cent this year and 9.6 per cent in 2011, while America’s 2.6 per cent growth in 2010 will sink to 1.2 per cent next year.

Read more: http://www.dailymail.co.uk/news/article-1341110/Fresh-humiliation-euro-zone-China-says-bail-debt-ridden-nations.html#ixzz18xskAYJP

Wednesday, December 22, 2010

Mrs. Obama’s Separate Hawaii Travel Likely Costs at Least $63,000 Taxpayers Dollars

by KEITH KOFFLER on DECEMBER 22, 2010, 12:33 PM
The decision by First Lady Michelle Obama to leave on schedule for her two-week Hawaii vacation and not wait a few days for her delayed husband will probably cost taxpayers more than $63,000 in additional expenses, according to a White House Dossier analysis.
President Obama was supposed to depart for Hawaii Saturday, but decided to stay in Washington until Congress finishes its work for the year. He’s now expected to depart today or tomorrow. But Mrs. Obama chose to leave without him Saturday, taking their two children and the dog along with her.
Mrs. Obama’s decision to go without the president forced her to take a separate plane, meaning two flights instead of one were needed to ferry the First Family to their vacation destination. Unless for some reason her plane was headed to Hawaii anyway, her trip involves substantial additional costs.
Michelle Obama reads to children
Mrs. Obama reads "'Twas the Night Before I Got Out of Freezing Washington" to a group of children
Mrs. Obama jetted out to Hawaii on an Air Force C-40B Special Mission Aircraft. The Defense Department bills other agencies $6,330 per flight hour for use the plane.
Assuming a flight time from Washington DC to Hawaii of about ten hours, the cost to taxpayers for the flight alone would be about $63,000.
But Mrs. Obama’s determination to get her full two weeks of Hawaiian rest and relaxation probably cost a good deal more. By leaving  early, she forced  a large logistical support operation – including a retinue of Secret Service agents – to get itself up and running.
This is in addition to the support that will be needed to bring President Obama to Hawaii via Air Force One. Since the cost of moving the entire family together on Air Force One would not likely have been much different than that of taking just the president, the first lady’s trip is an add-on.
What’s more, Mrs. Obama has decided to make a Sasquatch-sized carbon footprint by commandeering her own jet to take her to Hawaii.
The first lady has previously garnered criticism for her vacation travel, particularly afour-night luxury excursion to Spain last August.
Mrs. Obama’s Hawaii transportation is a modestly sized plane based on the commercial Boeing 737 and seating up to 32 passengers. Here is the Air Force description of it:
The cabin area is equipped with a crew rest area, distinguished visitor compartment with sleep accommodations, two galleys and business class seating with worktables.
The C-40B is designed to be an “office in the sky” for senior military and  government leaders. Communications are paramount aboard the C-40B which provides broadband data/video transmit and receive capability as well as clear and secure voice and data communication. It gives combatant commanders the ability to conduct business anywhere around the world using on-board Internet and local area network connections, improved telephones, satellites, television monitors, and facsimile and copy machines.
Despite the president’s delayed departure, the most recent information is that the entire Obama clan will return to Washington as scheduled January 1.
Attempts to reach the first lady’s press office for comment were unsuccessful.

Obama Executive Order Targets Fourth Amendment

Kurt Nimmo
Infowars.com
December 22, 2010
Remember when Barry Obama said he would close Gitmo because it wasn’t right to hold people without formal charges and trials? He made the pledge soon after assuming the ceremonial throne. He said he would get it done within 12 months.
KSM is the poster child for a war against the Fourth Amendment and the Bill of Rights.
Barry didn’t really mean it.
Now comes word that Obama will sign an executive order that will formalize indefinite detention without trial of detainees kidnapped on the battlefields of undeclared and illegal wars.
The supposed plan to close Guantanamo is on hold, according to the Washington Post. It could be crippled if Congress bans the transfer of detainees to the United States for trial and sets up steep hurdles to the repatriation or resettlement in third countries of other detainees.
Obama’s cronies are working feverishly on the executive order. “If Congress blocks the administration’s ability to put detainees on trial or transfer them out of Guantanamo… the executive order could still be implemented,” the Post explains.
“I would argue that you still have to go ahead because you can’t simply have people confined to a life sentence without any review and then fight another day with Congress,” said a senior administration official.
Earlier this month, Congress passed on a 212-206 vote a bill that forbids Obama and crew from transferring any detainees held at Guantanamo Bay to the United States and giving them trials. The bill mentions by name the al-Qaeda scary man and poster child for the forever war against mercurial terror, Khalid Sheikh Mohammed.
KSM supposedly confessed to all aspects of the September 11, 2001, terror attack, including making NORAD stand down and defying the laws of physics.
“KSM’s confession was announced to the world by the very people who routinely torture prisoners, hold secret military trials behind closed doors, and bar all lawyers and reporters from being anywhere near the courtroom,” Nila Sagadevan wrote in 2007.
Millions of people bought into Obama’s change mantra. But some of us knew it would be merely a continuation of policies adopted during the Bush regime, policies built upon a foundation created by Bill Clinton who inherited the agenda from Reagan and George Dubya’s daddy.
Mitt and Sarah or Huck – whomever the elite decide will be the carnival barker next time – will continue and build upon the malodorous edifice constructed by Barry Obama, or rather constructed by the shadow government men behind Obama the teleprompter reader.
Next up – American citizens who are described as white al-Qaeda.
On Tuesday, we learned that Obama’s man at the Justice Department, Eric Holder, stays up at night worrying about miscreant Americans who may plot murder and mayhem in the name of the international jihad formulated by CIA operatives, patsies, and useful idiots.
“The threat has changed from simply worrying about foreigners coming here to worrying about people in the United States,” Holder said. “American citizens raised here, born here. You didn’t worry about this even two years ago.”
“The threat is real,” he added. “The threat is different. The threat is constant.”
Holder was praised by incoming House Homeland Security Chairman Peter King of New York who is pleased that Attorney General Eric Holder and the Obama administration have had an “awakening” about the threat of homegrown Islamist terrorism, according to The Daily Caller.
King plans to open a congressional inquiry into the radicalization of American Muslims once the Republicans take control of the House Homeland Security Committee in the next Congress.
Obama’s latest executive order will come in mighty handy if King’s witch hunt produces a fresh crop of victims.
The Fourth Amendment will not be allowed to stand in the way of the forever war against manufactured enemies who are not permitted to pull off an effective attack on the freedom lovers. Flaming underwear and dud barbeque gas grill canisters will have to suffice – for now.
Holder said officialdom may have missed signals of the next attack. He cited the internet and the Pentagon diner Awlaki who is “able to utilize the web to reach out to an increasingly tech-savvy worldwide population, accessing potential converts around the world,” according toKKTV in Colorado.

Tuesday, December 21, 2010

THE POTENTIAL COST OF SPEAKING OUT



By Dave Hodges 
December 12, 2010 
NewsWithViews.com



When do your First Amendment rights to speak out against the emergence of a totalitarian form of American government conflict with your rights to maintain custody of your children? It depends on whether your diet includes a red or blue pill. If your collective blue pill diets continue unabated, then none of you will feel the need to speak out. Everything is fine, just go back to sleep. However, when one changes the color of their diet to red, their protective parental instincts surface in order to defend their beloved children from an oppressive government who views all children as their personal property.

Sherrie Wilcox is the poster child who serves to portray the victimization of middle class American parents by big government. At first glance, Sherry Wilcox appears to be an unassuming mom who would frequent her child's soccer matches and accompany her sister to the local shopping mall. However, there is nothing average about Wilcox's ability to research a topic and draw cogent conclusions as I have found her to be a courageous and gifted researcher whose blog contains some amazing information and photographs of The Georgia Guidestones, pictures of thousands of FEMA coffins stored in her home state of Georgia as well as a stunning analysis of last year's deadly Ukrainian pneumonia with information that was largely unavailable in the main stream media. [See Sherrie Wilcox's blog.]

Yet, for daring to exercise her First Amendment right to question the unconstitutional and illegal practices of the current federal government (e.g., mortgage fraud), Sherrie Wilcox received a visit from visit from Homeland Security, err….. The Georgia Child Protective Services (CPSS). In the assumed defense of her child, the CPS officials accused Wilcox of mental abuse and the neglect of her child.

When I hear stories of abuse and neglect, I think of extreme physical discipline, starving children and the face of a child who is left alone to fend for themselves for long periods of time. Certainly, the investigation of Sherrie Wilcox's fitness as a mother would have begun with an examination of these variables wouldn't they? Well, not in this case. The Wilcox family ordeal began just prior to Halloween when Sherrie's child was questioned at school without being advised that she had the right to have an advocate in the room with her at the time questioning. Further, the interrogation questions had nothing to with Sherrie Wilcox's fitness as a mother as her child was asked the following questions:

(1) Does your mother take you camping?

(2) Where do you go camping?

(3) Who else goes camping with you?

(4) Does your mother store food?

(5) Does your mother have any guns?

(6) Has your mother remodeled your home?

(7) Does your mother have a safe room or a bomb shelter?

(8) Has your mother talked to you about the end of the world?

Being a former nationally certified mental health counselor who is intimately familiar with report requirements regarding child neglect and abuse, I fail to see the relevance of any of these questions regarding Sherrie Wilcox's fitness as a parent and why any agency charged with protecting child welfare would be concerned about camping and storing food. These questions defy all legal precedent and common sense.



Upon returning home, the highly upset Wilcox child informed Sherrie about the intimidating interview and the unwarranted and intrusive nature of the questions that Georgia CPS officials asked the child at school. Wilcox promptly called CPS to inquire as to the motive behind subjecting her child to this extreme form of intimidation and mental abuse. The CPS official promptly informed her that they would be conducting an interview with her at her home in the morning. Sherrie Wilcox wisely arranged to have the ordeal videotaped by her sister and invited neighbors to witness this unique form of governmental intrusion of her parental rights.

After arriving at the Wilcox home, Georgia CPS officials proceeded to ask Wilcox the following questions and levied the following accusations:
1. Does she have solar panels on her house?

2. How and where do the Wilcox's go camping?

3. Does she store food? (Note: Sherrie Wilcox is a volunteer Red Cross nurse and her supplies are in accordance with FEMA guidelines).

4. Amazingly, CPS wanted to know if her house had an alternative heating source.

5. They also wanted to know if she had ever talked about the end of the world. (When the time is right, I hope Sherrie discusses the end of the American Republic with her child).

6. CPS accused Sherrie Wilcox of being in a "top secret" (unspecified) agency whose purpose is to overthrow the United States Government.
7. She was accused of blogging 20 hours per day and neglecting her child.

8. Finally, CPS wanted to know if she had committed the heinous parental act of renovating her house.

A partial video excerpt of these intrusive and illegal questions are posted on Sherrie Wilcox's blog.
It is clear that the state of Georgia's CPS and their officials have been co-opted by Homeland Security to harass and profile innocent Americans who commit the unpardonable sin of speaking out against governmental wrongdoing. Is this what America has come to?

In the weeks and months ahead, I will be writing about the most endangered species on the planet; the American citizen and the threats facing our kind.

Americans are being attacked on several fronts as our fellow citizens private communications are being spied upon at every turn. TSA agents are committing egregious sexual assault crimes upon the traveling public that would land any of us in prison for five years with a felony conviction for second degree sexual assault.

The inevitable resurgence of The Food Safety Act will lay the groundwork for an agricultural dictatorship as well as forcing unsafe GMO food products down our throats without the consent of the governed. In other words, American food supplies are being poisoned while Monsanto laughs all the way to the bank.

The dastardly creatures from Plum Island keep creating bioengineered autoimmune diseases (e.g., placing mycoplasma in Lyme disease) and then releasing the same upon an unsuspecting American public, while operating under patents owned by the Department of the Army and it is all legal (USC 50 section 32 paragraph 1520a). Speaking of mycoplasma, numerous reports are pointing to the fact that mycoplasma is being found in chemtrails.

For those Americans on a red pill diet, it is clear that we are collectively being attacked at every level of our existence. These abuses even extend to our private residences. In America, a man's home is no longer his castle as the Pentagon is actively forcing thousands of American people off of their private properties, often resulting in bankruptcy, without so much as paying a dime in constitutionally mandated eminent domain compensation in the furtherance of their missions.
Much of America's fresh water supplies (e.g., Alaskan melting glacier waters) are being shipped to India and China without the requisite compensation being paid to American towns and cities. And the same thing is happening at Lake Meade as well as The Great Lakes water supplies. Americans have lost their health care freedom. Very soon the Obama death panels will be deciding who lives and who dies.

Residents on all three American coastlines are increasingly coming under direct physical attack from the top secret military operation known as Operation Red Flag as the Pentagon is beginning to conduct a massive series of five year war games which will imperil the health of coastal residents resulting from untold tons of airborne depleted uranium and phosphorus gas which will come ashore courtesy of the prevailing winds and will eventually force America's coastal residents from their homes as well as destroy agriculture in these states. With autoimmune disease infestations permeating both the East and West coast, it would appear that Agenda 21 is being carried out in full force. But that would be conspiratorial. Aren't we supposed to be good coincidence theorists?

White papers from the upcoming Cancun Climate Change Conference call for the forced "relocation" of residents from areas deemed to be "climate sensitive." Meanwhile Cap and Trade, which cannot achieve passage in Congress, is being incrementally implemented through administrative fiat and will cause American utility rates to skyrocket and your right to use energy as you see fit will disappear. Do any of you fellow American frogs feel the temperature being dialed up?
Arizona has enacted legislation to compel mandatory vaccinations, or face (FEMA Camp like) quarantine in the event of a declared health emergency. NORTHCOM troops continue training for domestic suppression of civil unrest and are becoming more skillful in the removal of large segments of Americans from their homes.
Meanwhile, average citizens, like Sherrie Wilcox, are finding stockpiles of FEMA coffins across the country and for her trouble; the expression of her First Amendment rights coupled with her ability to continue in the role of a custodial parent, are being threatened.

The FEMA camps are gearing up and are showing signs of being fully staffed and operational. For what purpose would they becoming operational? While we still have largely unfettered access to internet, perhaps America should be googling REX 84 and the Civilian Inmate Labor Program. It is difficult even for the blue pill crowd to deny the existence of holocaust centers within the United States when their existence is admitted to and contained within government documents. The government Fusion Centers continues to merge all segments of law enforcement into the largest data base collection in recorded history. They will serve as the command and control of the New World Order. Meanwhile, the American government is actively profiling average citizens (e.g., The MIAC Report) for suspicion of being domestic terrorists because of their support for Congressman Ron Paul, being a member of the Libertarian and Constitutional Parties, desiring to end the unconstitutional and criminal dominance of the Federal Reserve, supporting the Second Amendment, being a supporter of the United States Constitution, being a Christian and being a returning veteran.

Through criminal enterprise schemes such as the TARPS and the derivatives we have had our money and our children's economic future stolen from under our noses. Wall Street, the Federal Reserve and the United States have come to be viewed as the world's largest criminal syndicate in the history of mankind.

Gulf Coast residents are experiencing deadly health effects which crossed the pandemic threshold months ago. However, the six corporations which control 98% of the media would have us believe that all is well and that BP really cares.
As we continue to lift up the covers, this is only the tip of the iceberg and I shudder to think how bad things are truly going to get.

As a print and broadcast journalist, there is a bonanza of salient material to report on. However, this is not a cause for celebration because, unfortunately, my young son must live in this growing cesspool that I feel compelled to write about while I try and counter an education system seemingly intent on deliberately dumbing down my child so he and his generation will never know what they are in the process of losing

To some, these allegations sound like the ravings of a lunatic, except that every word is true and verifiable and will soon be appearing in this column in the coming weeks and months. My black box warning label would caution all too carefully consider returning to your old life and keep ingesting your endless supply of blue pills courtesy of the mainstream media in order to perpetuate the illusion that has replaced America's common sense.
© 2010 Dave Hodges - All Rights Reserved



READ MORE HERE http://www.newswithviews.com/Hodges/dave105.htm

Foreclosures on People Who Never Missed a Payment


Ask to see the original mortgage document. If they cannot show it to you, get this from them in writing. Have it drafted in advance, and arrange for a notary to witness. Go to the sheriff, get a quitclaim, and you own it free and clear.

Federal Reserve is the primary tool of the new financial oligarchy

The ultimate banking clearing house with zero oversight from the people still holds over $2 trillion on its balance sheet.



The Federal Reserve system (the Fed for short) is the US central banking system.  The Fed was created in 1913 with the enactment of the Federal Reserve Act.  In the beginning the Fed had limited powers and its mission was limited.  According to the Fed its mission today is to conduct monetary policy, supervise and regulate banking institutions, and maintain stability in the financial system.  If this is the mission of the Fed, it has radically failed and theAmerican people should audit the Fed to see what went wrong.  The problem with the Fed is that it is independent within the government since it does not need to seek legislation for actions.  Yet the authority of the Federal Reserve is derived from the US Congress.  Yet we have recently seen when a push to audit the Fed was issued in Congress a major backlash hit from the Fed and we have yet to conduct a full audit of the Federal Reserve.  The Fed has conducted and put at risk the US currency to protect the banking interests of its member banks.  The unstated mission of the Fed is to protect its banking allies even if it means destroying the economic structure of its host nation so long as wealth is stabilized in the new financial oligarchy.
Even as the Fed gloats that the economy is on a mends, we see that the Fed balance sheet hasn’t really shifted since the financial crisis hit:
fed balance sheet
Source:  Wikipedia, chart
The Fed currently has over $2 trillion in “assets” on its balance sheets.  We have documented that within this enormous amount of assets, there are questionable loans and items including shadow bailouts of the imploded commercial real estate market.  The Fed has bailed out shopping malls in Oklahoma that have no adequate traffic to justify their existence all the way to luxury hotels.  Do you think the American people consider this a solid way of managing the nation’s financial health?
Yet let us go back to one of the stated items listed on the Fed’s mission statement, that of financial stability.  In the last decade the US financial markets have seen some of the worst financial volatility since the Great Depression.  The Fed did not sit idly by as we now know with the released lending notes during the crisis.  The Fed made $9 trillion in short-term loans to 18 of the largest financial institutions in the country.  It also made loans to corporate entities like McDonalds for example.  The Fed of course did not want this information to be released since it showed favoritism to the largest organizations in the country all the while lending tightened up to smaller businesses and organizations.  Individuals certainly have felt the credit freeze and nowhere in the notes do we see the Fed making a solid effort to bolster lending to the American public.  They were concerned about the biggest institutions and the rest were left hanging on a shingle.
During the banking crisis of the Great Depression many banks failed in a system setup under unit banking:
bank failures
Source:  Mortgage News
Yet the big problem today is that we have a handful of banks holding over 50 percent of all total banking assets ($13 trillion and half with 19 banks out of 7,700+).  So the raw count of bank failures is deceptive.  We can have 100 bank failures costing $1 million each or have one giant failure like IndyMac costing $8 billion.  The era of too big to fail is just as dangerous as one in which banks are isolated.  In fact with the data released from the Fed we see the insidious problem of a system in which the worst performing banks with the most deceptive practices not only are bailed out but are given more capital to remain in business.  All this does is solidifies their actions and makes them grow even bigger, the side effect of moral hazard.  Think of JP Morgan taking over Washington Mutual and now they are going to charge customers $10 a month for what used to free checking for life.  Think of Bank of America swallowing up Countrywide Financial.  This is the kind of banking consolidation that the Fed has orchestrated since the crisis started with no accountability to Congress or the American people.
The Fed would like you to believe that they are using their own money but this is a lie.  The Fed was instrumental in creating the housing bubble with their low Fed funds rate:
fed funds rate
Most Americans carry a large part of their net worth in real estate.  So the fact that the Fed turned what used to be a stable asset into a highly volatile commodity that encouragedWall Street banks to develop CDOs and other instruments of financial destruction was a method of siphoning off wealth from most Americans to their banking overlords.  Again, the Fed is designed to maintain financial stability but the actions of the last few decades demonstrate that their mission should read:
“To aggregate as much wealth into the banking system while eliminating the American middle class by a slow systematic dilution of their currency and financial well being and standard of living.”
This is exactly what has happened in the last decade.  The average American makes roughly $39,000 a year or less.  72 million Americans make $25,000 or less each year.  Yet at the same time wealth at the top is getting more and more consolidated.  So now we have a system where giant bank failures don’t happen but we have a slow destruction of wealth for the remainder of the American public.  The Fed only cares about stability for its member banks.  Ben Bernanke, the current Fed chief went on 60 Minutes claiming that Americans would be better off if they just got more educated.  Oh really?  So you mean with the currenthigher education bubble Americans should borrow more money from banks and the government so they can go into massive debt for a degree that may not help them land a job?  We all know that the cost of college has far outpaced the cost of most items including healthcare costs. Yet the solution to our current crisis is to get into deeper debt and become slaves to banks yet again?  Sounds like Alan Greenspan being a champion for adjustable rate mortgages.
The Fed has given horrible advice over and over.  It wouldn’t be such a problem if they were a pundit on a radio show.  But this is our central bank!  This is the institution that made $9 trillion in short-term loans and fought Congress to keep it hidden from the American people.  This is the institution that has over $2 trillion in “assets” and doesn’t want to say what it is because the American people will find out that junk mortgages on failed real estate deals will show up.  The Fed has failed on its explicit mission and it is time to fully audit the Fed.


http://www.mybudget360.com/federal-reserve-primary-tool-of-new-financial-oligarchy-banking-balance-sheet/

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