Game-changing 19-minute video: Fed transcript proves open criminal admission of fraud worth trillions

Posted on October 13, 2015 by Carl Herman

http://www.washingtonsblog.com/2015/10/game-changing-19-minute-video-fed-transcripts-prove-full-criminal-admission-of-fraud-worth-trillions.html

hat tip: InvestmentWatchblog, SGT Report 

John Titus, engineer and lawyer, writer and producer of Bailout, with YouTube channel of BestEvidence,read the latest Federal Reserve Open Market Committee meeting transcript (always delayed for five years), and discovered full admittance of financial fraud by the Fed in trillions of dollars. John explains:

BestEvidence’s newest film, “They Come from Planet Klepto,” undertakes an intensive examination of the transcript and exhibits from the Fed’s June 2009 FOMC meeting held during the first few critical months of the most ambitious monetary experiment of all time, which the Fed falsely swore was temporary in nature. As it turns out, the Federal Reserve never intended to unwind the radical balance sheet expansion it began 7 years ago at all, as one of the central purposes of the Fed programs—aside from enabling broke banks to erect an illusion of solvency big enough to justify bonuses—was to cover up the very Wall Street crimes that caused the meltdown of 2008 in the first place.

John’s main points, as best I see them, and also from his 41-minute interview with SGT:

• 2009 Fed transcript reveals that the original “bailout” of $700 billion claimed as “troubled asset relief program” to buy toxic mortgage backed securities (MBS) was a LIE because they discussed how to make the public think they had an “exit plan” while not having one. The “bailout” climbed in value to $1.7 trillion, then to $16 trillion in “short-term loans.” US banks used the money to pay bonuses and buy competitors. PuppetGov documents this point at the closing 8-minute video.
• The Fed created and transferred $1.7 trillion to insider banks to purchase MBS at more than full value when publicly sold at $.05/dollar (5% of full value). These MBS pooled loans were claimed as AAA, and were BBB at best. This fraud with sub-prime loans were hidden by appreciating home values, but when home values fell with job losses, MBS fire sales were at 5 cents/dollar. These mortgages destroyed title, were not really mortgages, and were sold more than once.
• The Fed’s $1.7 trillion given to partner banks for worthless MBS, was then given back to the Fed by the banks as “excess reserves.” The Fed will keep the MBS papers forever because they prove criminal fraud.
• The Fed’s excess reserves cause “birthrate” for new businesses to have shrunk below “death rate” for existing businesses. This shows that because the Fed pays interest to banks to prevent loans to Main Street, the Fed became a competitor to a lending program for Main Street. The Fed induces higher reserves just like in the Great Depression when the Fed required higher reserves.

The joke is on us about what these three former US Treasury Secretaries call “income inequality,” and will only end with arrests of .01% “leaders” for obvious crimes centering in war and money. Seen this 1-minute video of how funny they see our poverty?

John’s source materials:

Bank deposits: http://research.stlouisfed.org/fred2/…

Bank loans: http://research.stlouisfed.org/fred2/…

Bernanke speech (text): http://www.washingtonsblog.com/2010/1…

Bernanke speech (video): http://www.c-span.org/video/?284139-1…

Excess reserves: http://research.stlouisfed.org/fred2/…

June 2009 FOMC transcript: http://www.federalreserve.gov/monetar…

June 2009 FOMC presentation materials: http://www.federalreserve.gov/monetar…

Total reserve balances: http://research.stlouisfed.org/fred2/…

Fed “Oceans of Cash” paper: http://www.clevelandfed.org/en/Newsro…

Mortgage-backed securities held by the Fed: https://research.stlouisfed.org/fred2…

Merrill Lynch’s MBS sales, July 2008: http://www.economonitor.com/analysts/…

Bailout (2012): http://www.imdb.com/title/tt1928331/?… (N.B.: I wrote and produced this film before learning how to turn on a camera. -JET)

Business birth and death rates: http://www.brookings.edu/~/media/rese…

Aldrich Plan cartoon: http://www.zerohedge.com/news/2015-06…

Ford Theatre Reunion’s Godzilla cover: http://www.youtube.com/watch?v=lMt4Oe…

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Note: I make all factual assertions as a National Board Certified Teacher of US Government, Economics, and History, with all economics factual claims receiving zero refutation since I began writing in 2008 among Advanced Placement Macroeconomics teachers on our discussion board, public audiences of these articles, and international conferences. I invite readers to empower their civic voices with the strongest comprehensive facts most important to building a brighter future. I challenge professionals, academics, and citizens to add their voices for the benefit of all Earth’s inhabitants.