> it's a cover up.... i dont think anyone really forgot thing easily
> when money is involved.

> On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > From cut and paste the URL - americanfreepress.net/html/
> > fed_chairman_187.html

> > Ben Bernanke, the head of the privately owned and controlled Federal
> > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > half trillion dollars. His lack of memory can be understood, given
> > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > banks around the world since the U.S. economy took a turn for the
> > worse in the summer of 2008. Still, it was quite an embarrassment for
> > the country’s top banker, who, during a three-hour grilling on July 21
> > before the House Committee on Financial Services, admitted he did not
> > know the recipients of foreign liquidity swaps—loans to foreign
> > financial entities—that amounted to some
> > $550 billion.

> > Shortly after news broke of Bernanke on the hot seat, video of his
> > testimony spread like wildfire on the Internet with hundreds of
> > thousands of viewers around the world watching the chief banker
> > stutter and squirm. Here is the relevant portion of the official
> > transcript relating the exchange between Bernanke and Rep. Alan
> > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > “Audit the Fed” legislation (H.R. 1207).

> > Grayson: “What’s that [the $553 billion amount]?”

> > Bernanke: “Those are swaps that were done with  foreign central banks.
> > Many foreign banks are short dollars. . . .”

> > banner_newsletter

> > Grayson: “So who got the money?”

> > Bernanke: “Financial institutions in Europe and other countries.”

> > Grayson: “Which ones?”

> > Bernanke: “I don’t know.”

> > Grayson: “Half a trillion dollars, and you don’t know who got the
> > money?”

> > Grayson was following up on earlier testimony by Bernanke, who said
> > that loans to foreign banks had increased from $24 billion at the end
> > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > increase in one year for anyone doing the math.

> > Grayson and Bernanke were debating complicated global financial
> > transactions known as foreign liquidity swaps, whereupon the Federal
> > Reserve gives U.S. dollars to foreign financial entities, usually
> > foreign central banks. In return for dollars, the foreign institutions
> > usually hold an equivalent amount of their own currencies in accounts
> > for the Fed.

> > Officially, the Federal Reserve states, “When the foreign central bank
> > lends the dollars it obtained by drawing on its swap line to
> > institutions in its jurisdiction, the dollars are transferred from the
> > foreign central bank’s account at the Federal Reserve to the account
> > of the bank that the borrowing institution uses to clear its dollar
> > transactions.”

> > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > going to back unstipulated loans in countries around the world.- Hide quoted text -

> - Show quoted text -

> show options

> On Jul 31, 6:02 am, Hoang <hoang.l.t...@gmail.com> wrote:

> > it's a cover up.... i dont think anyone really forgot thing easily
> > when money is involved.

> > On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > > From cut and paste the URL - americanfreepress.net/html/
> > > fed_chairman_187.html

> > > Ben Bernanke, the head of the privately owned and controlled Federal
> > > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > > half trillion dollars. His lack of memory can be understood, given
> > > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > > banks around the world since the U.S. economy took a turn for the
> > > worse in the summer of 2008. Still, it was quite an embarrassment for
> > > the country’s top banker, who, during a three-hour grilling on July 21
> > > before the House Committee on Financial Services, admitted he did not
> > > know the recipients of foreign liquidity swaps—loans to foreign
> > > financial entities—that amounted to some
> > > $550 billion.

> > > Shortly after news broke of Bernanke on the hot seat, video of his
> > > testimony spread like wildfire on the Internet with hundreds of
> > > thousands of viewers around the world watching the chief banker
> > > stutter and squirm. Here is the relevant portion of the official
> > > transcript relating the exchange between Bernanke and Rep. Alan
> > > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > > “Audit the Fed” legislation (H.R. 1207).

> > > Grayson: “What’s that [the $553 billion amount]?”

> > > Bernanke: “Those are swaps that were done with  foreign central banks.
> > > Many foreign banks are short dollars. . . .”

> > > banner_newsletter

> > > Grayson: “So who got the money?”

> > > Bernanke: “Financial institutions in Europe and other countries.”

> > > Grayson: “Which ones?”

> > > Bernanke: “I don’t know.”

> > > Grayson: “Half a trillion dollars, and you don’t know who got the
> > > money?”

> > > Grayson was following up on earlier testimony by Bernanke, who said
> > > that loans to foreign banks had increased from $24 billion at the end
> > > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > > increase in one year for anyone doing the math.

> > > Grayson and Bernanke were debating complicated global financial
> > > transactions known as foreign liquidity swaps, whereupon the Federal
> > > Reserve gives U.S. dollars to foreign financial entities, usually
> > > foreign central banks. In return for dollars, the foreign institutions
> > > usually hold an equivalent amount of their own currencies in accounts
> > > for the Fed.

> > > Officially, the Federal Reserve states, “When the foreign central bank
> > > lends the dollars it obtained by drawing on its swap line to
> > > institutions in its jurisdiction, the dollars are transferred from the
> > > foreign central bank’s account at the Federal Reserve to the account
> > > of the bank that the borrowing institution uses to clear its dollar
> > > transactions.”

> > > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > > going to back unstipulated loans in countries around the world.- Hide quoted text -

> > - Show quoted text -- Hide quoted text -

> - Show quoted text -

<depressionof2...@gmail.com> wrote:
> Audit the Fed - Support HR1207 - Call your Congressmen - Stop the New
> World Order in its tracks!

> "The central bank is an institution of the most deadly hostility
> existing against the Principles and form of our Constitution. I am an
> Enemy to all banks discounting bills or notes for anything but Coin.
> If the American People allow private banks to control the issuance of
> their currency, first by inflation and then by deflation, the banks
> and corporations that will grow up around them will deprive the
> People of all their Property until their Children will wake up
> homeless on the continent their Fathers conquered."

> -- Thomas Jefferson

<depressionof2...@gmail.com> wrote:
> Audit the Fed - Support HR1207 - Call your Congressmen - Stop the New
> World Order in its tracks!

> "The central bank is an institution of the most deadly hostility
> existing against the Principles and form of our Constitution. I am an
> Enemy to all banks discounting bills or notes for anything but Coin.
> If the American People allow private banks to control the issuance of
> their currency, first by inflation and then by deflation, the banks
> and corporations that will grow up around them will deprive the
> People of all their Property until their Children will wake up
> homeless on the continent their Fathers conquered."

> -- Thomas Jefferson

<depressionof2...@gmail.com> wrote:
> Want new material? Try this out...
> ---------------------------------------------------------------------------
> The Rothschilds

>    "The few who understand the system, will either be so interested
> from it's profits or so dependant on it's favors, that there will be
> no opposition from that class." — Rothschild Brothers of London, 1863

>   "Give me control of a nation's money and I care not who makes it's
> laws" — Mayer Amschel Bauer Rothschild

> --------------------------------------------------------------------------- -----

> Senators and Congressmen

>      "Most Americans have no real understanding of the operation of
> the international money lenders. The accounts of the Federal Reserve
> System have never been audited. It operates outside the control of
> Congress and manipulates the credit of the United States" — Sen. Barry
> Goldwater (Rep. AR)

>     "This [Federal Reserve Act] establishes the most gigantic trust on
> earth. When the President [Wilson} signs this bill, the invisible
> government of the monetary power will be legalized....the worst
> legislative crime of the ages is perpetrated by this banking and
> currency bill." — Charles A. Lindbergh, Sr. , 1913

>     "From now on, depressions will be scientifically created." —
> Congressman Charles A.
> Lindbergh Sr. , 1913

>     "The financial system has been turned over to the Federal Reserve
> Board. That Board as ministers the finance system by authority of  a
> purely profiteering group. The system is Private, conducted for the
> sole purpose of obtaining the greatest possible profits from the use
> of other people's money" -- Charles A. Lindbergh Sr., 1923

>     "The Federal Reserve bank buys government bonds without one
> penny..." — Congressman
> Wright Patman, Congressional Record, Sept 30, 1941

> "We have, in this country, one of the most corrupt institutions the
> world has ever known. I refer to the Federal Reserve Board. This evil
> institution has impoverished the people of the United States and has
> practically bankrupted our government. It has done this through the
> corrupt practices of the moneyed vultures who control it". —
> Congressman Louis T. McFadden in 1932 (Rep. Pa)

>     "The Federal Reserve banks are one of the most corrupt
> institutions the world has ever seen.
> There is not a man within the sound of my voice who does not know that
> this nation is run by the
> International bankers — Congressman Louis T. McFadden (Rep. Pa)

>     "Some people think the Federal Reserve Banks are the United States
> government's institutions.
> They are not government institutions. They are private credit
> monopolies which prey upon the people of the United States for the
> benefit of themselves and their foreign swindlers" — Congressional
> Record 12595-12603 — Louis T. McFadden, Chairman of the Committee on
> Banking and Currency (12 years) June 10, 1932

> "I have never seen more Senators express discontent with their
> jobs....I think the major cause is that, deep down in our hearts, we
> have been accomplices in doing something terrible and unforgivable to
> our wonderful country. Deep down in our heart, we know that we have
> given our children a legacy of bankruptcy. We have defrauded our
> country to get ourselves elected." — John Danforth (R-Mo)

> "These 12 corporations together cover the whole country and monopolize
> and use for private
> gain every dollar of the public currency..." — Mr. Crozier of
> Cincinnati, before Senate  Banking and Currency Committee - 1913

> "The [Federal Reserve Act] as it stands seems to me to open the way to
> a vast inflation of the
> currency... I do not like to think that any law can be passed that
> will make it possible to submerge the gold standard in a flood of
> irredeemable paper currency." — Henry Cabot Lodge Sr., 1913

> --------------------------------------------------------------------------- -----

> From the Federal Reserves Own Admissions

>     "When you or I write a check there must be sufficient funds in out
> account to cover the check,
> but when the Federal Reserve writes a check there is no bank deposit
> on which that check is drawn. When the Federal Reserve writes a check,
> it is creating money." — Putting it simply, Boston Federal Reserve
> Bank

>  "Neither paper currency nor deposits have value as commodities,
> intrinsically, a 'dollar' bill is just
> a piece of paper. Deposits are merely book entries." — Modern Money
> Mechanics Workbook,
> Federal Reserve Bank of Chicago, 1975

> "The Federal Reserve system pays the U.S. Treasury 020.60 per thousand
> notes --a little over
> 2 cents each-- without regard to the face value of the note. Federal
> Reserve Notes, incidentally, are the only type of currency now
> produced for circulation. They are printed exclusively by the
> Treasury's Bureau of Engraving and Printing, and the $20.60 per
> thousand price reflects the Bureau's full cost of production. Federal
> Reserve Notes are printed in 01, 02, 05, 10, 20, 50, and 100 dollar
> denominations only; notes of 500, 1000, 5000, and 10,000 denominations
> were last printed in 1945." —Donald J. Winn, Assistant to the Board of
> Governors of the Federal Reserve system

> "We are completely dependant on the commercial banks. Someone has to
> borrow every dollar
> we have in circulation, cash or credit. If the banks create ample
> synthetic money we are prosperous; if not, we starve. We are
> absolutely without a permanent money system.... It is the most
> important subject intelligent persons can investigate and reflect
> upon. It is so important that our present civilization may collapse
> unless it becomes widely understood and the defects remedied very
> soon." — Robert H. Hamphill, Atlanta Federal Reserve Bank

> --------------------------------------------------------------------------- -----

> From General Law

>    "The entire taxing and monetary systems are hereby placed under the
> U.C.C. (Uniform
> Commercial Code)" — The Federal Tax Lien Act of 1966

> "There is a distinction between a 'debt discharged' and a debt 'paid'.
> When discharged, the debt
> still exists though divested of it's charter as a legal obligation
> during the operation of the discharge, something of the original
> vitality of the debt continues to exist, which may be transferred,
> even though the transferee takes it subject to it's disability
> incident to the discharge." —Stanek vs. White, 172 Minn.390, 215 N.W.
> 784

> "The Federal Reserve Banks are not federal instrumentalities..." —
> Lewis vs. United States
> 9th Circuit 1992

> "The regional Federal Reserve banks are not government
> agencies. ...but are independent,
> privately owned and locally controlled corporations." — Lewis vs.
> United States, 680 F. 2d 1239
> 9th Circuit 1982

> --------------------------------------------------------------------------- -----

> Past Presidents, not including the Founding Fathers

>    "Whoever controls the volume of money in any country is absolute
> master of all industry and
> commerce." — James A. Garfield, President of the United States

> "A great industrial nation is controlled by it's system of credit. Our
> system of credit is concentrated in the hands of a few men. We have
> come to be one of the worst ruled, one of the most completely
> controlled and dominated governments in the world--no longer a
> government of free opinion, no longer a government by conviction and
> vote of the majority, but a government by the opinion and duress of
> small groups of dominant men." — President Woodrow Wilson

> --------------------------------------------------------------------------- -----

> Founding Father's Quotes on Banking  (Maybe some repeats from
> "Founding Father's Quotes" / Information tends to converge)

> Thomas Jefferson
>      "I believe that banking institutions are more dangerous to our
> liberties than standing armies.
> Already they have raised up a monied aristocracy that has set the
> government at defiance. The
> issuing power (of money) should be taken away from the banks and
> restored to the people to
> whom it properly belongs." — Thomas Jefferson, U.S. President.

> Andrew Jackson
>     "If Congress has the right [it doesn't] to issue paper money
> [currency], it was given to them to be used by...[the government] and
> not to be delegated to individuals or corporations" — President Andrew
> Jackson, Vetoed Bank Bill of 1836

> James Madison
>     "History records that the money changers have used every form of
> abuse, intrigue, deceit, and violent means possible to maintain their
> control over governments by controlling money and it's issuance." —
> James Madison

> --------------------------------------------------------------------------- -----

> Misc. Sources

> "Banks lend by creating credit. They create the means of payment out
> of nothing" — Ralph M.
> Hawtrey, Secretary of the British Treasury

>     "To expose a 15 Trillion dollar rip-off of the American people by
> the stockholders of the 1000
> largest corporations over the last 100 years will be a tall order of
> business." — Buckminster Fuller

>     "Every Congressman, every Senator knows precisely what causes
> inflation...but can't, [won't]
> support the drastic reforms to

> Frank, you are probably right about the audit not yielding any real
> information. The auditor would inevitably be an insider who would be
> "encouraged" not to find anything.

> The reason, I think Bernanke is right when he says the US financial
> system would collapse if the Fed is truly audited. The question is
> should it be allowed to collapse so a better system can be built from
> the rubble or do we see how long status quo will keep the USA in
> business.

> On Jul 31, 7:02 am, FrankB <frankborke314...@gmail.com> wrote:

> > Fractional, even if the FED audit bill goes through what do you think
> > the chances are that we will get the real information. These boys are
> > experts on cooking the books but Trillions might be hard to hide. IMHO
> > we will never get the complete picture or even come close to finding
> > out who the shareholders are in the FED.

> > On Jul 31, 5:53 am, fractional <fractionalend...@gmail.com> wrote:

> > > from an article: politicallore.com/writers/shaun-booth/75-of-americans-
> > > agree-with-ron-paul-audit-the-federal-reserve/1113

> > > Politicallore.com - 75% of Americans agree with Ron Paul: Audit the
> > > Federal Reserve
> > > Post Date: July 31st, 2009
> > > Submitted By: Shaun Booth
> > > Filed Under: Economy • Featured • Politics • Shaun Booth

> > > According to a recent poll by Rasmussen 3 out of 4 Americans, from
> > > across the spectrum of age, race, political affiliation and income,
> > > agree with Ron Paul and the 279 cosponsors of his bill (H.R. 1207) in
> > > the House of Representatives that the Federal Reserve should open its
> > > books to an independent audit.

> > > This is yet another indication that the topic of the Federal Reserve
> > > is being pushed to the forefront of the United States awareness.

> > > It was only a short time ago that Ron Paul would write legislation to
> > > abolish the Federal Reserve and it would be completely ignored if not
> > > scoffed at in Congress.

> > > But since his surprisingly successful Presidential run, which scored a
> > > major victory in educating a large percentage of young people on the
> > > intricacies of the Federal Reserve System, fractional reserve banking
> > > and monetary policy, his fellow Congressmen have no choice but to sit
> > > up, take notice and sign on to his bill.

> > > In a speech on the House floor yesterday, Ron Paul pointed to the fear
> > > that is becoming apparent in both the Federal Reserve System
> > > leadership as well as the leadership in Congress. He turned the old
> > > argument that is often used on the American people to pass legislation
> > > such as the Patriot Act and in defense of carrying out wiretapping…etc
> > > against the Federal Reserve. The argument that states that if you have
> > > nothing to hide you should have nothing to worry about.

> > > On Jul 31, 8:02 pm, Hoang <hoang.l.t...@gmail.com> wrote:

> > > > it's a cover up.... i dont think anyone really forgot thing easily
> > > > when money is involved.

> > > > On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > > > > From cut and paste the URL - americanfreepress.net/html/
> > > > > fed_chairman_187.html

> > > > > Ben Bernanke, the head of the privately owned and controlled Federal
> > > > > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > > > > half trillion dollars. His lack of memory can be understood, given
> > > > > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > > > > banks around the world since the U.S. economy took a turn for the
> > > > > worse in the summer of 2008. Still, it was quite an embarrassment for
> > > > > the country’s top banker, who, during a three-hour grilling on July 21
> > > > > before the House Committee on Financial Services, admitted he did not
> > > > > know the recipients of foreign liquidity swaps—loans to foreign
> > > > > financial entities—that amounted to some
> > > > > $550 billion.

> > > > > Shortly after news broke of Bernanke on the hot seat, video of his
> > > > > testimony spread like wildfire on the Internet with hundreds of
> > > > > thousands of viewers around the world watching the chief banker
> > > > > stutter and squirm. Here is the relevant portion of the official
> > > > > transcript relating the exchange between Bernanke and Rep. Alan
> > > > > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > > > > “Audit the Fed” legislation (H.R. 1207).

> > > > > Grayson: “What’s that [the $553 billion amount]?”

> > > > > Bernanke: “Those are swaps that were done with  foreign central banks.
> > > > > Many foreign banks are short dollars. . . .”

> > > > > banner_newsletter

> > > > > Grayson: “So who got the money?”

> > > > > Bernanke: “Financial institutions in Europe and other countries.”

> > > > > Grayson: “Which ones?”

> > > > > Bernanke: “I don’t know.”

> > > > > Grayson: “Half a trillion dollars, and you don’t know who got the
> > > > > money?”

> > > > > Grayson was following up on earlier testimony by Bernanke, who said
> > > > > that loans to foreign banks had increased from $24 billion at the end
> > > > > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > > > > increase in one year for anyone doing the math.

> > > > > Grayson and Bernanke were debating complicated global financial
> > > > > transactions known as foreign liquidity swaps, whereupon the Federal
> > > > > Reserve gives U.S. dollars to foreign financial entities, usually
> > > > > foreign central banks. In return for dollars, the foreign institutions
> > > > > usually hold an equivalent amount of their own currencies in accounts
> > > > > for the Fed.

> > > > > Officially, the Federal Reserve states, “When the foreign central bank
> > > > > lends the dollars it obtained by drawing on its swap line to
> > > > > institutions in its jurisdiction, the dollars are transferred from the
> > > > > foreign central bank’s account at the Federal Reserve to the account
> > > > > of the bank that the borrowing institution uses to clear its dollar
> > > > > transactions.”

> > > > > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > > > > going to back unstipulated loans in countries around the world.- Hide quoted text -

> > - Show quoted text -- Hide quoted text -

> - Show quoted text -

> show options

> On Jul 31, 9:45 am, Kevin <khieb...@gmail.com> wrote:

> > Frank, you are probably right about the audit not yielding any real
> > information. The auditor would inevitably be an insider who would be
> > "encouraged" not to find anything.

> > The reason, I think Bernanke is right when he says the US financial
> > system would collapse if the Fed is truly audited. The question is
> > should it be allowed to collapse so a better system can be built from
> > the rubble or do we see how long status quo will keep the USA in
> > business.

> > On Jul 31, 7:02 am, FrankB <frankborke314...@gmail.com> wrote:

> > > Fractional, even if the FED audit bill goes through what do you think
> > > the chances are that we will get the real information. These boys are
> > > experts on cooking the books but Trillions might be hard to hide. IMHO
> > > we will never get the complete picture or even come close to finding
> > > out who the shareholders are in the FED.

> > > On Jul 31, 5:53 am, fractional <fractionalend...@gmail.com> wrote:

> > > > from an article: politicallore.com/writers/shaun-booth/75-of-americans-
> > > > agree-with-ron-paul-audit-the-federal-reserve/1113

> > > > Politicallore.com - 75% of Americans agree with Ron Paul: Audit the
> > > > Federal Reserve
> > > > Post Date: July 31st, 2009
> > > > Submitted By: Shaun Booth
> > > > Filed Under: Economy • Featured • Politics • Shaun Booth

> > > > According to a recent poll by Rasmussen 3 out of 4 Americans, from
> > > > across the spectrum of age, race, political affiliation and income,
> > > > agree with Ron Paul and the 279 cosponsors of his bill (H.R. 1207) in
> > > > the House of Representatives that the Federal Reserve should open its
> > > > books to an independent audit.

> > > > This is yet another indication that the topic of the Federal Reserve
> > > > is being pushed to the forefront of the United States awareness.

> > > > It was only a short time ago that Ron Paul would write legislation to
> > > > abolish the Federal Reserve and it would be completely ignored if not
> > > > scoffed at in Congress.

> > > > But since his surprisingly successful Presidential run, which scored a
> > > > major victory in educating a large percentage of young people on the
> > > > intricacies of the Federal Reserve System, fractional reserve banking
> > > > and monetary policy, his fellow Congressmen have no choice but to sit
> > > > up, take notice and sign on to his bill.

> > > > In a speech on the House floor yesterday, Ron Paul pointed to the fear
> > > > that is becoming apparent in both the Federal Reserve System
> > > > leadership as well as the leadership in Congress. He turned the old
> > > > argument that is often used on the American people to pass legislation
> > > > such as the Patriot Act and in defense of carrying out wiretapping…etc
> > > > against the Federal Reserve. The argument that states that if you have
> > > > nothing to hide you should have nothing to worry about.

> > > > On Jul 31, 8:02 pm, Hoang <hoang.l.t...@gmail.com> wrote:

> > > > > it's a cover up.... i dont think anyone really forgot thing easily
> > > > > when money is involved.

> > > > > On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > > > > > From cut and paste the URL - americanfreepress.net/html/
> > > > > > fed_chairman_187.html

> > > > > > Ben Bernanke, the head of the privately owned and controlled Federal
> > > > > > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > > > > > half trillion dollars. His lack of memory can be understood, given
> > > > > > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > > > > > banks around the world since the U.S. economy took a turn for the
> > > > > > worse in the summer of 2008. Still, it was quite an embarrassment for
> > > > > > the country’s top banker, who, during a three-hour grilling on July 21
> > > > > > before the House Committee on Financial Services, admitted he did not
> > > > > > know the recipients of foreign liquidity swaps—loans to foreign
> > > > > > financial entities—that amounted to some
> > > > > > $550 billion.

> > > > > > Shortly after news broke of Bernanke on the hot seat, video of his
> > > > > > testimony spread like wildfire on the Internet with hundreds of
> > > > > > thousands of viewers around the world watching the chief banker
> > > > > > stutter and squirm. Here is the relevant portion of the official
> > > > > > transcript relating the exchange between Bernanke and Rep. Alan
> > > > > > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > > > > > “Audit the Fed” legislation (H.R. 1207).

> > > > > > Grayson: “What’s that [the $553 billion amount]?”

> > > > > > Bernanke: “Those are swaps that were done with  foreign central banks.
> > > > > > Many foreign banks are short dollars. . . .”

> > > > > > banner_newsletter

> > > > > > Grayson: “So who got the money?”

> > > > > > Bernanke: “Financial institutions in Europe and other countries.”

> > > > > > Grayson: “Which ones?”

> > > > > > Bernanke: “I don’t know.”

> > > > > > Grayson: “Half a trillion dollars, and you don’t know who got the
> > > > > > money?”

> > > > > > Grayson was following up on earlier testimony by Bernanke, who said
> > > > > > that loans to foreign banks had increased from $24 billion at the end
> > > > > > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > > > > > increase in one year for anyone doing the math.

> > > > > > Grayson and Bernanke were debating complicated global financial
> > > > > > transactions known as foreign liquidity swaps, whereupon the Federal
> > > > > > Reserve gives U.S. dollars to foreign financial entities, usually
> > > > > > foreign central banks. In return for dollars, the foreign institutions
> > > > > > usually hold an equivalent amount of their own currencies in accounts
> > > > > > for the Fed.

> > > > > > Officially, the Federal Reserve states, “When the foreign central bank
> > > > > > lends the dollars it obtained by drawing on its swap line to
> > > > > > institutions in its jurisdiction, the dollars are transferred from the
> > > > > > foreign central bank’s account at the Federal Reserve to the account
> > > > > > of the bank that the borrowing institution uses to clear its dollar
> > > > > > transactions.”

> > > > > > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > > > > > going to back unstipulated loans in countries around the world.- Hide quoted text -

> > > - Show quoted text -- Hide quoted text -

> > - Show quoted text -- Hide quoted text -

> - Show quoted text -

> What makes you so sure a better system would be built from the
> rubble?  The pile of rubble was much higher in the 30's and the system
> that rose up is fighting with all it's might to avoid the fate of the
> old one.  I think the image of virtuous and stern-faced practical
> capitalism is a load of ass drainage.

> On Jul 31, 9:45 am, Kevin <khieb...@gmail.com> wrote:

> > Frank, you are probably right about the audit not yielding any real
> > information. The auditor would inevitably be an insider who would be
> > "encouraged" not to find anything.

> > The reason, I think Bernanke is right when he says the US financial
> > system would collapse if the Fed is truly audited. The question is
> > should it be allowed to collapse so a better system can be built from
> > the rubble or do we see how long status quo will keep the USA in
> > business.

> > On Jul 31, 7:02 am, FrankB <frankborke314...@gmail.com> wrote:

> > > Fractional, even if the FED audit bill goes through what do you think
> > > the chances are that we will get the real information. These boys are
> > > experts on cooking the books but Trillions might be hard to hide. IMHO
> > > we will never get the complete picture or even come close to finding
> > > out who the shareholders are in the FED.

> > > On Jul 31, 5:53 am, fractional <fractionalend...@gmail.com> wrote:

> > > > from an article: politicallore.com/writers/shaun-booth/75-of-americans-
> > > > agree-with-ron-paul-audit-the-federal-reserve/1113

> > > > Politicallore.com - 75% of Americans agree with Ron Paul: Audit the
> > > > Federal Reserve
> > > > Post Date: July 31st, 2009
> > > > Submitted By: Shaun Booth
> > > > Filed Under: Economy • Featured • Politics • Shaun Booth

> > > > According to a recent poll by Rasmussen 3 out of 4 Americans, from
> > > > across the spectrum of age, race, political affiliation and income,
> > > > agree with Ron Paul and the 279 cosponsors of his bill (H.R. 1207) in
> > > > the House of Representatives that the Federal Reserve should open its
> > > > books to an independent audit.

> > > > This is yet another indication that the topic of the Federal Reserve
> > > > is being pushed to the forefront of the United States awareness.

> > > > It was only a short time ago that Ron Paul would write legislation to
> > > > abolish the Federal Reserve and it would be completely ignored if not
> > > > scoffed at in Congress.

> > > > But since his surprisingly successful Presidential run, which scored a
> > > > major victory in educating a large percentage of young people on the
> > > > intricacies of the Federal Reserve System, fractional reserve banking
> > > > and monetary policy, his fellow Congressmen have no choice but to sit
> > > > up, take notice and sign on to his bill.

> > > > In a speech on the House floor yesterday, Ron Paul pointed to the fear
> > > > that is becoming apparent in both the Federal Reserve System
> > > > leadership as well as the leadership in Congress. He turned the old
> > > > argument that is often used on the American people to pass legislation
> > > > such as the Patriot Act and in defense of carrying out wiretapping…etc
> > > > against the Federal Reserve. The argument that states that if you have
> > > > nothing to hide you should have nothing to worry about.

> > > > On Jul 31, 8:02 pm, Hoang <hoang.l.t...@gmail.com> wrote:

> > > > > it's a cover up.... i dont think anyone really forgot thing easily
> > > > > when money is involved.

> > > > > On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > > > > > From cut and paste the URL - americanfreepress.net/html/
> > > > > > fed_chairman_187.html

> > > > > > Ben Bernanke, the head of the privately owned and controlled Federal
> > > > > > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > > > > > half trillion dollars. His lack of memory can be understood, given
> > > > > > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > > > > > banks around the world since the U.S. economy took a turn for the
> > > > > > worse in the summer of 2008. Still, it was quite an embarrassment for
> > > > > > the country’s top banker, who, during a three-hour grilling on July 21
> > > > > > before the House Committee on Financial Services, admitted he did not
> > > > > > know the recipients of foreign liquidity swaps—loans to foreign
> > > > > > financial entities—that amounted to some
> > > > > > $550 billion.

> > > > > > Shortly after news broke of Bernanke on the hot seat, video of his
> > > > > > testimony spread like wildfire on the Internet with hundreds of
> > > > > > thousands of viewers around the world watching the chief banker
> > > > > > stutter and squirm. Here is the relevant portion of the official
> > > > > > transcript relating the exchange between Bernanke and Rep. Alan
> > > > > > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > > > > > “Audit the Fed” legislation (H.R. 1207).

> > > > > > Grayson: “What’s that [the $553 billion amount]?”

> > > > > > Bernanke: “Those are swaps that were done with  foreign central banks.
> > > > > > Many foreign banks are short dollars. . . .”

> > > > > > banner_newsletter

> > > > > > Grayson: “So who got the money?”

> > > > > > Bernanke: “Financial institutions in Europe and other countries.”

> > > > > > Grayson: “Which ones?”

> > > > > > Bernanke: “I don’t know.”

> > > > > > Grayson: “Half a trillion dollars, and you don’t know who got the
> > > > > > money?”

> > > > > > Grayson was following up on earlier testimony by Bernanke, who said
> > > > > > that loans to foreign banks had increased from $24 billion at the end
> > > > > > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > > > > > increase in one year for anyone doing the math.

> > > > > > Grayson and Bernanke were debating complicated global financial
> > > > > > transactions known as foreign liquidity swaps, whereupon the Federal
> > > > > > Reserve gives U.S. dollars to foreign financial entities, usually
> > > > > > foreign central banks. In return for dollars, the foreign institutions
> > > > > > usually hold an equivalent amount of their own currencies in accounts
> > > > > > for the Fed.

> > > > > > Officially, the Federal Reserve states, “When the foreign central bank
> > > > > > lends the dollars it obtained by drawing on its swap line to
> > > > > > institutions in its jurisdiction, the dollars are transferred from the
> > > > > > foreign central bank’s account at the Federal Reserve to the account
> > > > > > of the bank that the borrowing institution uses to clear its dollar
> > > > > > transactions.”

> > > > > > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > > > > > going to back unstipulated loans in countries around the world.- Hide quoted text -

> > > - Show quoted text -- Hide quoted text -

> - Show quoted text -

> YEAP!!!!!!!!!!!!!!!!!!!!!!!!!!

> On Jul 31, 9:59 am, Mickey <needlyf...@yahoo.com> wrote:

> > What makes you so sure a better system would be built from the
> > rubble?  The pile of rubble was much higher in the 30's and the system
> > that rose up is fighting with all it's might to avoid the fate of the
> > old one.  I think the image of virtuous and stern-faced practical
> > capitalism is a load of ass drainage.

> > On Jul 31, 9:45 am, Kevin <khieb...@gmail.com> wrote:

> > > Frank, you are probably right about the audit not yielding any real
> > > information. The auditor would inevitably be an insider who would be
> > > "encouraged" not to find anything.

> > > The reason, I think Bernanke is right when he says the US financial
> > > system would collapse if the Fed is truly audited. The question is
> > > should it be allowed to collapse so a better system can be built from
> > > the rubble or do we see how long status quo will keep the USA in
> > > business.

> > > On Jul 31, 7:02 am, FrankB <frankborke314...@gmail.com> wrote:

> > > > Fractional, even if the FED audit bill goes through what do you think
> > > > the chances are that we will get the real information. These boys are
> > > > experts on cooking the books but Trillions might be hard to hide. IMHO
> > > > we will never get the complete picture or even come close to finding
> > > > out who the shareholders are in the FED.

> > > > On Jul 31, 5:53 am, fractional <fractionalend...@gmail.com> wrote:

> > > > > from an article: politicallore.com/writers/shaun-booth/75-of-americans-
> > > > > agree-with-ron-paul-audit-the-federal-reserve/1113

> > > > > Politicallore.com - 75% of Americans agree with Ron Paul: Audit the
> > > > > Federal Reserve
> > > > > Post Date: July 31st, 2009
> > > > > Submitted By: Shaun Booth
> > > > > Filed Under: Economy • Featured • Politics • Shaun Booth

> > > > > According to a recent poll by Rasmussen 3 out of 4 Americans, from
> > > > > across the spectrum of age, race, political affiliation and income,
> > > > > agree with Ron Paul and the 279 cosponsors of his bill (H.R. 1207) in
> > > > > the House of Representatives that the Federal Reserve should open its
> > > > > books to an independent audit.

> > > > > This is yet another indication that the topic of the Federal Reserve
> > > > > is being pushed to the forefront of the United States awareness.

> > > > > It was only a short time ago that Ron Paul would write legislation to
> > > > > abolish the Federal Reserve and it would be completely ignored if not
> > > > > scoffed at in Congress.

> > > > > But since his surprisingly successful Presidential run, which scored a
> > > > > major victory in educating a large percentage of young people on the
> > > > > intricacies of the Federal Reserve System, fractional reserve banking
> > > > > and monetary policy, his fellow Congressmen have no choice but to sit
> > > > > up, take notice and sign on to his bill.

> > > > > In a speech on the House floor yesterday, Ron Paul pointed to the fear
> > > > > that is becoming apparent in both the Federal Reserve System
> > > > > leadership as well as the leadership in Congress. He turned the old
> > > > > argument that is often used on the American people to pass legislation
> > > > > such as the Patriot Act and in defense of carrying out wiretapping…etc
> > > > > against the Federal Reserve. The argument that states that if you have
> > > > > nothing to hide you should have nothing to worry about.

> > > > > On Jul 31, 8:02 pm, Hoang <hoang.l.t...@gmail.com> wrote:

> > > > > > it's a cover up.... i dont think anyone really forgot thing easily
> > > > > > when money is involved.

> > > > > > On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > > > > > > From cut and paste the URL - americanfreepress.net/html/
> > > > > > > fed_chairman_187.html

> > > > > > > Ben Bernanke, the head of the privately owned and controlled Federal
> > > > > > > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > > > > > > half trillion dollars. His lack of memory can be understood, given
> > > > > > > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > > > > > > banks around the world since the U.S. economy took a turn for the
> > > > > > > worse in the summer of 2008. Still, it was quite an embarrassment for
> > > > > > > the country’s top banker, who, during a three-hour grilling on July 21
> > > > > > > before the House Committee on Financial Services, admitted he did not
> > > > > > > know the recipients of foreign liquidity swaps—loans to foreign
> > > > > > > financial entities—that amounted to some
> > > > > > > $550 billion.

> > > > > > > Shortly after news broke of Bernanke on the hot seat, video of his
> > > > > > > testimony spread like wildfire on the Internet with hundreds of
> > > > > > > thousands of viewers around the world watching the chief banker
> > > > > > > stutter and squirm. Here is the relevant portion of the official
> > > > > > > transcript relating the exchange between Bernanke and Rep. Alan
> > > > > > > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > > > > > > “Audit the Fed” legislation (H.R. 1207).

> > > > > > > Grayson: “What’s that [the $553 billion amount]?”

> > > > > > > Bernanke: “Those are swaps that were done with  foreign central banks.
> > > > > > > Many foreign banks are short dollars. . . .”

> > > > > > > banner_newsletter

> > > > > > > Grayson: “So who got the money?”

> > > > > > > Bernanke: “Financial institutions in Europe and other countries.”

> > > > > > > Grayson: “Which ones?”

> > > > > > > Bernanke: “I don’t know.”

> > > > > > > Grayson: “Half a trillion dollars, and you don’t know who got the
> > > > > > > money?”

> > > > > > > Grayson was following up on earlier testimony by Bernanke, who said
> > > > > > > that loans to foreign banks had increased from $24 billion at the end
> > > > > > > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > > > > > > increase in one year for anyone doing the math.

> > > > > > > Grayson and Bernanke were debating complicated global financial
> > > > > > > transactions known as foreign liquidity swaps, whereupon the Federal
> > > > > > > Reserve gives U.S. dollars to foreign financial entities, usually
> > > > > > > foreign central banks. In return for dollars, the foreign institutions
> > > > > > > usually hold an equivalent amount of their own currencies in accounts
> > > > > > > for the Fed.

> > > > > > > Officially, the Federal Reserve states, “When the foreign central bank
> > > > > > > lends the dollars it obtained by drawing on its swap line to
> > > > > > > institutions in its jurisdiction, the dollars are transferred from the
> > > > > > > foreign central bank’s account at the Federal Reserve to the account
> > > > > > > of the bank that the borrowing institution uses to clear its dollar
> > > > > > > transactions.”

> > > > > > > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > > > > > > going to back unstipulated loans in countries around the world.- Hide quoted text -

> > > > - Show quoted text -- Hide quoted text -

> > - Show quoted text -- Hide quoted text -

> - Show quoted text -

> it's a cover up.... i dont think anyone really forgot thing easily
> when money is involved.

> On Jul 30, 9:55 pm, fractional <fractionalend...@gmail.com> wrote:

> > From cut and paste the URL - americanfreepress.net/html/
> > fed_chairman_187.html

> > Ben Bernanke, the head of the privately owned and controlled Federal
> > Reserve, cannot remember to which foreign banks the Fed has loaned a
> > half trillion dollars. His lack of memory can be understood, given
> > that the Fed has loaned or guaranteed trillions of U.S. dollars to
> > banks around the world since the U.S. economy took a turn for the
> > worse in the summer of 2008. Still, it was quite an embarrassment for
> > the country’s top banker, who, during a three-hour grilling on July 21
> > before the House Committee on Financial Services, admitted he did not
> > know the recipients of foreign liquidity swaps—loans to foreign
> > financial entities—that amounted to some
> > $550 billion.

> > Shortly after news broke of Bernanke on the hot seat, video of his
> > testimony spread like wildfire on the Internet with hundreds of
> > thousands of viewers around the world watching the chief banker
> > stutter and squirm. Here is the relevant portion of the official
> > transcript relating the exchange between Bernanke and Rep. Alan
> > Grayson (D-Fla.), who is also a sponsor of Rep. Ron Paul’s landmark
> > “Audit the Fed” legislation (H.R. 1207).

> > Grayson: “What’s that [the $553 billion amount]?”

> > Bernanke: “Those are swaps that were done with  foreign central banks.
> > Many foreign banks are short dollars. . . .”

> > banner_newsletter

> > Grayson: “So who got the money?”

> > Bernanke: “Financial institutions in Europe and other countries.”

> > Grayson: “Which ones?”

> > Bernanke: “I don’t know.”

> > Grayson: “Half a trillion dollars, and you don’t know who got the
> > money?”

> > Grayson was following up on earlier testimony by Bernanke, who said
> > that loans to foreign banks had increased from $24 billion at the end
> > of 2007 to $553 billion at the end of 2008. That is a 2,300 percent
> > increase in one year for anyone doing the math.

> > Grayson and Bernanke were debating complicated global financial
> > transactions known as foreign liquidity swaps, whereupon the Federal
> > Reserve gives U.S. dollars to foreign financial entities, usually
> > foreign central banks. In return for dollars, the foreign institutions
> > usually hold an equivalent amount of their own currencies in accounts
> > for the Fed.

> > Officially, the Federal Reserve states, “When the foreign central bank
> > lends the dollars it obtained by drawing on its swap line to
> > institutions in its jurisdiction, the dollars are transferred from the
> > foreign central bank’s account at the Federal Reserve to the account
> > of the bank that the borrowing institution uses to clear its dollar
> > transactions.”

> > Translated from banker-speak, the U.S. dollars, in a nutshell, are
> > going to back unstipulated loans in countries around the world.- Hide quoted text -

> - Show quoted text -