The Wall Street Pentagon Papers: Biggest Scam In World History Exposed - Are The Federal Reserve’s Crimes Too Big To Comprehend?

What if the greatest scam ever perpetrated was blatantly exposed, and the US media didn't cover it? Does that mean the scam could keep going?

That's what we are about to find out.

I understand the importance of the new WikiLeaks documents. However, we must not let them distract us from the new information the Federal Reserve was forced to release. Even if WikiLeaks reveals documents from inside a large American bank, as huge as that could be, it will most likely pale in comparison to what we just found out from the one-time peek we got into the inner-workings of the Federal Reserve. This is the Wall Street equivalent of the Pentagon Papers.

Webmaster's Commentary: 

Wall Street tried to pull the greatest financial scam in history, selling mortgage-backed securities with mortgages that were already in default, or mortgages re-pledged as collateral to multi0ple investment packages, or in some cases no actual collateral at all. The insiders made billions on the deals.

But as the fraud became known, the banks, pension plans, corporate investment accounts who had bought these investments, all demanded a refund on the fraudulent mortgage-backed securities and the attached credit swaps. The demands were enforced with threat of public exposure or a run on the US financial system as was demonstrated in February 2009, when a massive electronic withdrawal of funds nearly crashed the US banking system; a financial shot across the bow!

So Wall Street started buying back the bad paper, in order to stay out of jail, but money flowed out of the crooked financial instituions faster than Ben Bernanke could print it up. Printing up new dollars simply cheapened all dollars leaving no way to pull ahead of the mounting losses. Because of the massive losses on the mortgage-backed securities buyback, banks hovered at insolvency.

The banks needed new assets to put on the balance sheets, and the US Government provided one by confiscating wealth from the people and giving it to the banks. But whereas Franklin Roosevelt's 1933 gold grab had been open and above-board, the US Government decided that this new wealth-grab had to be more covert in order to prevent a public backlash from a population already angry at high taxes, low services, endless wars, and persistent funding of Israel's war machine.

So the government started offering tax incentives to corporations that encouraged offshoring. The theory was simple. If Americans list the means to pay their mortgages, the banks could grab the homes, some 60 million so far, and put those on the balance sheet to stay solvent! And the best part was that the Americans whose homes were confiscated were fooled into thinking it was their own fault!

I received a lot of email from people who refuse to believe the US Government would ever do such an evil thing, but if allowing banks to take private homes to recapitalize, then you tell me why the Obama administration has continued that Bush-era policy!

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