Percentage of Cost Escalated as Profit to the Feds...here is something everyone should know
Lou Dobbs is wrong. First, the "faith and credit" of the American people is how Congress appropriates money through the Treasury. Let's see how their small 700 billion dollar bill translates when applied to "faith and credit" which they control and use through our financial institutions.
The new 800 dollar bailout is A WRONG FIGURE! Do the kind of math the greedy federal reserve does with full support of the Treasury. Here is how it works:
1. The Federal Reserve Board located at 2 Pennsylvania Avenue, Dover, Delaware (a private corporation of 300 members) can buy money from our Treasury at a discount of usually 25% or $25.00 any time the Treasury window opens (usually 3 times a year).
2. The US Banks have to pay the Federal Reserve Board to buy money to lend to us (Americans). They pay, let's say -- 10%.
3. The US Banks then charge us (Americans) as borrowers let's say a small 5%.
Total = 40% of every "faith and credit" dollar is already available for the Federal Reserve Bank to show on their books to Wall Street brokers.
4. Now, let's say there are 250 banking days per year and that the "faith and credit" money the Feds can show to the investment world is leveraged -- commonly known as "rolled" through the Wall Street brokerage houses like Goldman Sachs at another 10% every day for the 250 banking days per year. It now becomes 40% total + 10% or a total of 50%. Let's stop here.
This is what we have: 40% plus 10% = 50% times a 250 day roll ------- equals a whopping use of 12,500%
So, Americans..here is why the Feds desperately want to pass the 700 billion dollar bailout. Charging against the "faith and credit" of the American People, the new amount will be a SCARY -- EIGHT HUNDRED SEVENTY FIVE TRILLION DOLLARS which they make on your back. Why couldn't the Federal Reserve Board and Wall Street at least put half of it into your General Fund and build our infrastructure?
Now who's bankrupting America? Tell your Representative to vote NO! This kind of math is treasonous. Doesn't Congress know how to count?