The Great Recession continues around the world: Benjamin S. “Helicopter Ben” Bernanke, Chairman of the Board of Governors (a Federal agency) that oversees the privately owned Federal Reserve System of (central) Banks, announces that the FSRBs–without CONgressional appropriation–in concert with the central Bank of Canada, the central Bank of England, the European System of Central Banks, and the National (central) Bank of Switzerland, will re-open currency defaults between each other to inject an unlimited amount of newly created capital (Bills of Credit) to forestall the collapse of the Euro.  At the same time the ESCB agrees to guarantee a 750,000,000,000 Euro loan to Greece, which was within ten days of defaulting on its loans to commercial banks.

      [added 3/13/2022] Thanks to Freedom’s Phoenix for this entry.

       While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Democratic (socialist/fascist) de facto senator Christopher J. Dodd, Esq., of connecticut, argues, on the Columbia Broadcasting System interview program, argues for the establishment two new Federal agencies–the Office of Financial Research, and the Consumer Financial Protection Bureau.  The OFR would gather information on credit use, and the CFRPB would gather information on ordinary consumer transactions.  This,  Dodd argues would prevent another housing bubble that led to the Greatest Depression, and stop further recurrences of private individuals operating fraudulent pyramid scams, in which former investors are paid out of the investments of later investor.

NOTES:

  • The editors fail to understand how either one of these two agencies, designed to spy on the financial transactions of ordinary U.s. subject/enemy/citizens, could prevent either of these two abuses.  The Great Recession was caused by artificially cheap credit created by the unlawful, privately owned Federal Reserve System of (central) Banks.  Federal statutes against pyramid fraud already existed; but the Securities and Exchange Commission (which was responsible for investigating such fraud) ignored warnings about Bernard Madoff (with your money), who operated the longest and largest private pyramid scam in history.  Instead Dodd has continuously blocked efforts to end the FSRB and Social Security, which is the longest and largest private pyramid scam of all.
  • As an attorney (Officer of the Court) Dodd was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].

       [added 3/13/2022] Thanks to Freedom’s Phoenix for this entry.

Subsequent Events:

5/11/2010                   5/12/2010                    5/15/2010                   6/8/2010                  7/21/2010                  

8/11/2010                   8/13/2010                    9/2/2010                     1/4/2011                   1/11/2011                  

11/16/2011

References:

FRB: Press Release–FOMC statement Federal Reserve, European Central Bank, Bank of Canada, Bank of England, and Swiss National Bank announce reestablishment of temporary U.s. dollar liquidity swap facilities–May 9, 2010
www.federalreserve.gov/newsevents/press/monetary/20100509a.htm

The next 2,000-page bill | data, financial, bill – Opinion – The Orange County Register
www.ocregister.com/2010/05/11/editorial-the-next-2000-page-bill/

EconomicPolicyJournal.com Gary North on the State of the Crisis
www.economicpolicyjournal.com/2010/05/gary-north-on-state-of-crisis.html

EconomicPolicyJournal.com Fed Set to Go Nuke to Help Bailout Europe
www.economicpolicyjournal.com/2010/05/fed-set-to-go-nuke-to-help-bailout.html

Current U.s. National Debt:

$36,167,124,467,492

Source