Eliot Spitzer: “The Federal Reserve Is A Ponzi Scheme” (Inside The Fed’s Secret Pile Of Trash With Ratigan, Spitzer & Toure)

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Best Quote Is Eliot Spitzer Calling The Federal Reserve A Ponzi Scheme

An outstanding discussion, primer and visual lesson on toxic assets, failed banks, the Federal Reserve, HR 1207, auditing the Fed, and you, the f*cked taxpayer.  Don’t miss this clip and then send it to someone else.  Pay it forward until we have millions of f*cked taxpayers who will at least be informed.  Awareness is our only chance.

And a Friday f-you to a few individuals: Alan Greenspan, Bob Rubin, Henry Paulson, Ben Bernanke, Tim Geithner, George Bushes, Obama, Nancy Pelosi, Bill Clinton, Barney Frank, Joseph Cassano, and James Cramer.

Now the acronyms: SIV, CDO, CLO, CMO, FDIC, TARP, TALF, TLGF, PPIP and finally, most vehemently CNBC (except Faber & Santelli), for covering all of this for the last decade, and still never telling the truth.

(From James) More green shoots from Dylan Ratigan’s awesome new show.  Dylan puts on his Banker hat and swaps a (literal) bag of trash, on-air, for $13.9 Trillion worth of Monopoly money from a guy wearing a “Fed” hat.  Dylan then explains why we should support Ron Paul’s Audit of the Fed (HR 1207) and explains in plain and simple terms how we have been screwed by the Fed’s bailout of the banks.  This is really good stuff.  I can’t help but admire Ratigan for what he’s doing with the new show.  From our perspective, it just gets better and better.  Here are just two of several choice morsels from this clip:

  • “The Federal Reserve just extended $14 Trillion of our money, our children’s money, America’s future…and now they don’t want to talk about what’s in the bag. And they did it because the banks created a garbage bag full of bad debts.” (4:45)
  • “I feel as if America has suffered the greatest theft and cover-up — ever, … where banks created a pile of garbage, that they paid themselves billions of dollars in personal compensation, and then stuck the trillions of dollars worth of garbage with the American taxpayer. That, to me, is stealing.” (7:05)
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