Game-changing 19-minute video: Fed transcript proves open criminal admission of fraud worth trillions
John Titus, engineer and lawyer, writer and producer of Bailout, with YouTube channel of BestEvidence,read the latest Federal Reserve Open Market Committee meeting transcript (always delayed for five years), and discovered full admittance of financial fraud by the Fed in trillions of dollars. John explains:
BestEvidence’s newest film, “They Come from Planet Klepto,” undertakes an intensive examination of the transcript and exhibits from the Fed’s June 2009 FOMC meeting held during the first few critical months of the most ambitious monetary experiment of all time, which the Fed falsely swore was temporary in nature. As it turns out, the Federal Reserve never intended to unwind the radical balance sheet expansion it began 7 years ago at all, as one of the central purposes of the Fed programs—aside from enabling broke banks to erect an illusion of solvency big enough to justify bonuses—was to cover up the very Wall Street crimes that caused the meltdown of 2008 in the first place.
John’s main points, as best I see them:
- 2009 Fed transcript reveals that the original “bailout” of $700 billion claimed as “troubled asset relief program” to buy toxic mortgage backed securities (MBS) was a LIE because they discussed how to make the public think they had an “exit plan” while not having one. The “bailout” climbed in value to $1.7 trillion, then to $16 trillion in “short-term loans.” US banks used the money to pay bonuses and buy competitors. PuppetGov documents this point at the closing 8-minute video.
- The Fed created and transferred $1.7 trillion to insider banks to purchase MBS at more than full value when publicly sold at $.05/dollar (5% of full value). These MBS pooled loans were claimed as AAA, and were BBB at best. This fraud with sub-prime loans were hidden by appreciating home values, but when home values fell with job losses, MBS fire sales were at 5 cents/dollar. These mortgages destroyed title, were not really mortgages, and were sold more than once.
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