WE’RE BEING ROBBED BLIND – AGAIN, YET, STILL
Caleb S. Atwood
The Federal Reserve recently announced that it will purchase $300 billion in Treasuries by the end of October, 2009. Recently 10 year bonds have been paying 3.65% interest. At that rate, the Fed will “earn” $10,950,000,000 ($10.95 billion) interest per year on these securities. That’s a pretty huge number to get a grip on it so let’s look at it in simpler terms.
We’ll be paying the Fed $600,000 interest per day on the $300 billion the Fed will create out of thin air!
This is in addition to interest on $1,372,692B in U.S. securities already purchased by the Fed1. Estimating interest on these at the same 3.65% rate, we’re paying the Fed $50,103,258,000 interest every year on these securities. Again, in simpler terms we’re already paying the Fed $137,269,200 every day on money it has created out of thin air!
We’re also paying interest on billions worth of U.S. securities purchased by other governments, including $2,032,395,000,000 the Fed holds in “custody for foreign official and international accounts.” If the average interest on these securities is calculated at 3.65%, we’re paying $74,182,417,500 interest each year on them. To simplify once again we’re paying these foreign governments $203,239,500 interest every day on securities most of them purchased with money they too created out of thin air.
Combined,we’re paying $341,108,700 interest per day on these securities.
As staggering as these amounts are they do not include interest on securities the Fed does not hold for foreign governments or interest we’re paying banks, pension plans, mutual funds or other investors.
Eventually, we’ll have to redeem all these debt based securities with dollars we cannot create out of thin air.
Caleb S. Atwood
1. Source: “Factors affecting Reserve Balances” in the August 13, 2009 Federal Reserve Statistical Release.
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OK folks–now take a good look at what is below and to all of our collective horror–its true.
Americans need to finally wake up and honestly it may be too late. But its not too late to buttonhole your congressional representatives and tell them how you feel–after all this is America and that is what we do–we talk out our differences–we come to a consensus, a middle ground–we’re not a fascist state–are we??
Know this: Americans should have control of their currency–Congress not Wall Street and Certainly not the Federal Reserve which Ron Paul is trying to have audited. Guess what America–The Federal Reserve is neither Federal nor is it a reserve.
Know this: They can create what passes for “money” out of thin air and then they charge you and me interest on that money. They have now printed–created so much of it that it that it is at risk of losing all value–hence the hyperinflation arguments.
Know this: We have banks that have us in a squeeze coming and going. Its called a fractional reserve system and here is how it works. For every $10 a bank has in deposits it is allowed to loan out and collect interest on $90.00. They don’t need that $90.00 in their bank–only $10. It goes on and on and we the American Sheeple feel we can do nothing about it.
Know this: It takes a lot to piss off the collective American consciousness but when it happens, the repercussions can be severe. And we did not create this mess–the greed of the Federal Reserve (a collection of rich INTERNATIONAL Banks) in collusion with one another to “rule the world” got caught with their pants down and now the house of cards is coming down too. Only gold and silver and the quality producing gold and silver stocks will save us.
Humpty Dumpty is beyond repair.
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Posted by D.Stewart Armstrong in Articles