Here is simple but definitive proof that the FED is actually a criminal organization worse than the Mafia. According to this excellent article by Jeff Nielson systemically the banksters are operating legally in a criminal manner.
Let me quickly cover the first premise by once again reviewing the monetary abomination known as “fractional reserve banking”. In the typical, modern “fractional reserve system”, each time we deposit a (paper) dollar with a bank (or invest it), our eternally greedy bankers are allowed to effectively print-up ten more dollars, loan them out into the economy (or “invest” them) – and thus that $1 dollar suddenly becomes $11, with the other $10 dollars being a windfall created (literally) out of thin air, which has neither been “earned”, nor does it have anything at all “backing” its value.
This ten-to-one dilution of our currency – which is nothing less than (legal) systemic fraud – is precisely how the Federal Reserve has been able to reduce the value of the U.S. dollar by roughly 98% (over its 98-year existence). But even stealing at this rapacious rate was not enough to sate the greed of the 21st century Wall Street bankster.
They directed their spineless servants in Washington to change a vast number of rules (and eliminate even more “safeguards”) allowing these banksters to increase that (already obscene) 10:1 leverage to an utterly insane level of greater than 30:1 – which turned the entire U.S. financial system (and most of its debt and equity markets) into a collection of hopelessly unstable Ponzi-schemes. This leverage-insanity has culminated in the creation of the banksters’ private casino: the $1.5 quadrillion derivatives market – by itself more than twenty times bigger than the entire global economy."
This excellent artiticle is an must read.
You miss the overriding reality, Nipper. The federal government is a criminal organization with its criminality increasing bit by bit since the Constitution was adopted. So why would you expect any of its GSEs, of whatever type, to be other than that? A self answering question if ever there was one. Eventually it will blow up but when that is likely to happen is the BIG question. Celente feels strongly that it is going to happen in the next few years. Button up.