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Monday, December 6, 2010

Federal Reserve 3.3 trillion dollar magical mystery tour, not a drop for main street, USA.


Frank Garay and Brian Stevens of Think Big Work Small make an excellent point about how little attention was paid to Ben's Bernanke's bombshell that 3.3 TRILLION DOLLARS was "donated" to international banks with no recognizable paper trail.
(Update, Friday 8:19 am, Dec. 10, 2010 - In retrospect, donated is too harsh of a word. The money is supposedly going to be returned, but the point is, no public timetable for disclosure is set, nor are any terms made public. The reason that no initial publicity is given is to prevent a "run on a bank", but that does not mean that a year or two down the road we can't automatically be told who got what, when, and where, without having to sue to get that information.)
My additional concern involves the possibility of a political donation boomerang that 3.3 trillion dollars could bring, back to the United States. Just the "exchange rate" fee from 3.3 trillion dollars could be enough to fund a 2012 presidential campaign coffer in the United States.

3.3 trillion dollars could also easily lead to Federal Hobbs Act violations down the road.

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