Wednesday, February 11, 2009

Geithner Hands Over All Mortgages to JP Morgan

Elaine Meinel Supkis

Once again, we have to talk about Jekyll Island and JP Morgan and how this whole Federal Reserve thing came into being. The Feds are giving JP Morgan and Goldman Sachs our entire mortgage market! You heard me right: they are now the custodians of almost ALL of our mortgages! And what are they? The owners of the Federal Reserve! Time to dig into this, as usual. It is so tiresome and utterly necessary if we want to fix things. And do not despair! These frantic efforts of the criminal class are falling apart! We must be read for the next stage: when even the average American is fed up and full of fear.

Where In The World Is Ben Bernanke? -

In October, it seemed like Federal Reserve Chairman Ben Bernanke was then Treasury Secretary Henry Paulson’s right-hand man in fighting for bank bailout money....

Where has Bernanke been? Exactly where he should be: working behind closed doors, say former Fed officials...."That was probably the unusual time," McTeer says of last fall. "It’s in the nature of the Fed job to be out of the public eye."

The Fed’s job is to be ‘out of the public eye’ so they can secretly manipulate our currency and lend money without us knowing a thing about it. I have a decent memory and remember Bernake announcing, he was not going to be secretive. But when I met him face to face, I said, ‘Sphinx.’

The minute the Sphinx got his high office, he was told in no uncertain terms, to shut the hell up or else. So he shut up. We are in a major crisis and he shut up. When I go through the records of Fed speeches, I notice they gave speeches, big, long ones, whenever there was a crisis. Now, they are supposed to shut up and not be in the public eye. Well, I wish I could shut them in jail and have them be silent, there. Look at the latest news from the silent Bernanke!

JPMorgan to serve as custodian of Fed program - BusinessWeek

JPMorgan Chase & Co. said Tuesday that it has been selected by the Federal Reserve to serve as custodian of the government’s program to buy mortgage-backed securities.

The program, which began on Jan. 5, will see the Federal Reserve buy up to $500 billion in mortgage-backed securities backed by Fannie Mae, Freddie Mac and Ginnie Mae in an effort to improve conditions in the financial markets and help boost the mortgage and housing markets.

The Federal Reserve also selected four investment managers, BlackRock Financial Management Inc., Goldman Sachs Asset Management LP, Pacific Investment Management Co. and Wellington Management Co. to assist with the program.

A MUST SEE: The Creature from Jekyll Island - A Second Look at the Federal Reserve by G Edward Griffin

Look at it! JP Morgan owned Jekyll Island’s biggest resort. They conspired to create the Federal Reserve and to this day, are major spring pullers inside of it, they OWN it. And note that Bear Stearns, an outside banking group, died, while JP Morgan sails the Seven Seas, laughing and singing pirate songs! JP Morgan went bankrupt, they have many, many TRILLIONS in derivatives they cannot cover. They have to keep the Derivatives Beast invisible. If it comes to them, it will eat them, totally.

So, how to recapitalize? HAHAHA. They will ’save America!’ Like in 1914. This is why the Creature from Jekyll Island, aka, JP Morgan, will be ‘custodian’ of our mortgages. All of them! All of America will be in the hands of....JP Morgan, one of the creators of the present financial collapse!!! ARREST THEM ALL. All these bankers should be locked up. Sigh. They own our government.

If you click on this web page, you can see that there is absolutely NO mention of Jekyll Island or the creation of the Federal Reserve. It is totally skipped over! HAHAHA.

When New York City inaugurated its subway system in 1904, the bank opened branch offices in residential areas along the subway lines to serve commuters. In 1913, Congress established the
Federal Reserve System to regulate the money supply and manage the economy. The Federal Reserve formally assumed the role of central banker that had been informally held by J. Pierpont Morgan for years.The Federal Reserve Act of 1913 gave national banks the right to make real estate loans and exercise trust powers.

Note that JP Morgan states, they were given [HAHAHA...from themselves!] the RIGHT to make real estate loans and to be an unregulated Trust. Note that one of the deeper causes of the Great Depression were the depraved activities of all the many trusts. Many of which were outlawed by 1934. JP Morgan barely survived that and had to hunker down deep inside of the Federal Reserve, something they are doing again, today.

I now suspect that Geithner was put in the Treasury so he could hide the Federal Reserve from view as he coordinates the final destruction of the Treasury by putting it further under the control of the private bankers who run the Federal Reserve. The Treasury gave up all of its major Constitutional powers to JP Morgan and Rockerfellers, etc, and now, they want total control of our budget and our mortgage markets and our entire system from top to bottom. By moving all our mortgages, first, into Fannie Mae and Freddie Mac, it is now being backloaded in the the insiders who live in the heart of the Federal Reserve.

BlackRock is part of this due to it being a Democratic regime right now. So the other bankers throw some sop to the DNC so Congress will go along with all this garbage. So, now that Geithner is in charge of the Treasury, he will funnel $2 trillion to the Federal Reserve to make up for ANTICIPATED LOSSES in the mortgage markets. Let’s sit down for a minute and think: The Federal Reserve is sucking down all mortgages and then handing them off to JP Morgan and gang. Then, will pay for any losses due to us not paying the New World Order Landlords.

Any scheme Congress cooks up that causes mortgage value losses will be paid by the taxpayers. Meanwhile, JP Morgan is now RECAPITALIZED by this move. Got that? Savings in banks are losses since the bank has to pay some sovereign saver for the right to use the money to ‘grow loans.’ But debts are ASSETS. So the ASSETS of Fannie Mae and Freddie Mac, which were worthless when held by banks with no access to the Treasury and thus, the US taxpayers, are now worth trillions of dollars since the entire government is INSURING these things, totally! Isn’t that just sweet?

Then, JP Morgan will take out a pen and write out loans which we have to pay back, on top of insuring and paying for all losses from all previous loans! Isn’t that a wonderful deal? Disgust doesn’t describe my feelings, I have to visit a vomitorium.

Going back to Mr. Griffin and his wonderful, must-read book about Jekyll Island, the Federal Reserve was set up to get around the Treasury. If the government wanted money, they had to go to the Treasury and to pay back this money, they had to raise taxes. But with the Fed there, they could get LOANS from the Fed, feed this into the economy and everything was hands-off. Then, the inflation this caused led great anger as savers and retirees saw their incomes collapse.

So Congress put in inflation escalators into everything. This made inflation worse and at the same time, Congress refused and still refuses to index taxes to inflation. They want to hand out faux tax cuts! This gives them political power. Only the tax cutting outstripped revenues tremendously and now, we are very deep in debt and going deeper by the minute.

And to fix that, we go to the Fed for more loans and this puts us deeper into debt and will lead to future hyperinflation. And we can’t escape this merry go round unless we figure out how to get rid of JP Morgan, Goldman Sachs, the Federal Reserve that protects and enriches them and of course, our entire government which has been utterly corrupted by this entire system set up in 1914.

more - The Silver Bear Cafe

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