FED Chairman Ben Bernanke notified congress in November of last year that The Federal Reserve will be buying approximately 50 billion dollars (per month for an unlimited period) worth of bad debt and underwater mortgages from banks that want those items off their balance sheets.
Bernanke called the bad debt “CDO’s” (Collateralized Debt Obligations) because using taxpayer money to help millionaires unload risky investments that tanked, might cause a few more Americans to wake up.
Then, about 2 weeks later Bernanke notified congress that The Federal Reserve will be buying approximately 50 billion dollars (per month for an unlimited period) of Government Bonds. This is literally creating new money out of thin air so that our Government can pay its obligations without cutting spending. If the FED is having to buy 50 billion in T-Bills each month, that is a clear indication that Foreign Governments around the world are choosing to buy less US debt. That trend will only pick up speed in the months ahead.
Just so you are clear, The FED is not only “creating money out of thin air” and passing it out to the banks and other well connected people in power, they are using the US Federal Debt Account (indirectly) as the accounting offset entry. The FED is “legally” counterfeiting trillions of dollars in electronic money and leaving the tab for our children, grandchildren, and the unborn to repay!
This is not conspiracy “theory”, this is FACT! For the sake of our Country and future generations, please watch the 12 minute video below and then click the highlighted link under it to read an article that was posted recently on veteranstoday.com. I encourage you all to take the time to educate yourself about The Federal Reserve System. It’s truly amazing this scam has been perpetrated on the American people for almost 100 years.