Sound Money for America! Audit the Fed - Repeal the Federal Reserve Act!

End The FED Cleveland Ohio

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NEW CLEVELAND 11-22-09 PHOTO ALBUM

Location: THE GREATER CLEVELAND AREA
Members: 66
Latest Activity: Jan 22

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Rally info

PLEASE JOIN THE NATIONAL END THE FED MeetUp GROUP

http://www.meetup.com/End-The-Fed/

RON PAUL wins The Ohio Swing State Straw Poll - THE EVENT

HOLY BAILOUT - Federal Reserve Now Backstopping $75 Trillion Of Bank Of America's Derivatives Trades

This story from Bloomberg just hit the wires this morning. Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC.

This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval to do this, they just did it at the request of frightened counterparties. Now the Fed and the FDIC are fighting as to whether this was sound. The Fed wants to “give relief” to the bank holding company, which is under heavy pressure.

This is a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input. You will also read below that JP Morgan is apparently doing the same thing with $79 trillion of notional derivatives guaranteed by the FDIC and Federal Reserve.

What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan. Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.

http://dailybail.com/home/holy-bailout-federal-reserve-now-backstopping-75-trillion-of.html

PLEASE PARTICIPATE IN THIS MONTHLY EFFORT - CHECK IT OUT!

AuditTheFedPhoneBomb.com

Join us the first week of every month as we call our Federal legislators asking them to co-sponsor and support H.R. 459 [full text] and S. 202 [full text],the legislation that will give the American people a full audit of the Federal Reserve system. Please pledge to participate in the Audit the Fed Phone Bomb by entering your email address below. You will receive a reminder email when the next phone bomb takes place.

You can pledge to participate in the Audit The Fed Phone Bomb by clicking here and pledging via email or facebook.

Here is the list of congresspersons and Senators who have NOT yet signed on as co-sponsors for legislation requiring a full audit of the Federal Reserve.

http://auditthefedphonebomb.com/Hit-List-Audit-The-Fed-Co-Sponsors.html

Ohio Congressional HIT List for HR 459

Steve Chabot [1]
Jean Schmidt [2]
Jim Jordan [4]
Bill Johnson [6]
John Boehner [8]
Marcia Fudge [11]
Betty Sutton [13]
Steve Stivers [15]
Jim Renacci [16]
Tim Ryan [17]
Bob Gibbs [18]

Ohio Senator HIT List for S 202

Sherrod Brown
Rob Portman

Zeitgeist

The History of Money - Part 1

All Citizens Should Boycott all these companies, their products, and services, until action is taken against the FED. Class C - appointed by Board of Governors to represent the public:

Alfred M. Rankin, Jr. - Chairman President and CEO NACCO Industries, Inc.
Cleveland, OH

Richard K. Smucker - Deputy Chairman Executive Chairman and Co-CEO
The J.M. Smucker Company
Orrville, OH

Roy W. Haley - Chairman and CEO
WESCO International, Inc.
Pittsburgh, PA

Class B - elected by member banks to represent the public:

Les C. Vinney - Senior Advisor and Immediate Past President and CEO
STERIS Corporation
Mentor, OH

Tilmon F. (Tim) Brown - President and Chief Executive Officer
New Horizons Baking Company
Norwalk, OH

Susan Tomasky - President
AEP Transmission
Columbus, OH

Class A - elected by member banks to represent member banks:

James E. Rohr - Chairman and CEO
The PNC Financial Services Group, Inc.
Pittsburgh, PA

Charlotte W. Martin - President and CEO
Great Lakes Bankers Bank
Gahanna, OH

C. Daniel DeLawder - Chairman and CEO
Park National Bank
Newark, OH

Cleveland FED, Cincinnati Board of Directors:

James M. Anderson - Chairman Immediate Past President and CEO
Cincinnati Children's Hospital Medical Center
Cincinnati, OH

Donald E. Bloomer - President and CEO
Citizens National Bank
Somerset, KY

Daniel B. Cunningham - President and CEO
Long-Stanton Manufacturing Cos.
Cincinnati, OH

Gregory B. Kenny - President and CEO
General Cable Corporation
Highland Heights, KY

Paul R. Poston - Director, Great Lakes District
NeighborWorks® America
Cincinnati, OH

Janet B. Reid, Ph.D. - Principal Partner
Global Lead Management Consulting
Cincinnati, OH

Peter S. Strange - Chairman and CEO
Messer Construction Company
Cincinnati, OH

Cleveland FED, Pittsburgh Board of Directors

Sunil T. Wadhwani, - Chairman Co-Chairman
iGATE Corporation
Pittsburgh, PA

Todd D. Brice - Chief Executive Officer
S&T Bancorp, Inc.
Indiana, PA

Howard W. Hanna, III - Chairman and CEO
Howard Hanna Real Estate Services
Pittsburgh, PA

Glenn R. Mahone - Partner,
Reed Smith LLP
Pittsburgh, PA

Petra Mitchell - President
Catalyst Connection
Pittsburgh, PA

Robert A. Paul - Chairman and CEO
Ampco-Pittsburgh Corporation
Pittsburgh, PA

Margaret Irvine Weir - President
NexTier Bank
Butler, PA

The Solari Tapeworm 20 of the Federal Reserve System -
Boycott these Banks!
Following is Solari's list of the 20 Best Banks to flush from our lives in the US.
In 2004 alone these 20 banks reaped $89 billion in net income, while in the same year US households ran a deficit of $342 billion.
Think what could happen if we turned the tables?
1. Bank of America
2. Bank of New York
3. Barclays
4. BB&T
5. Citibank/Citigroup
6. Citizens
7. Credit Suisse
8. Deutsche Bank
9. HSBC
10. JP Morgan Chase
11. Mellon
12. Merrill Lynch
13. PNC
14. Royal Bank of Canada
15. State Street
16. Sumitomo
17. SunTrust
18. UBS
19. Wachovia
20. Wells Fargo
TOTAL NET INCOME $89 Billion

End The FED November 22nd 2008
End The FED March on Cleveland FED Novemeber 22nd 2009 JIM TRAFICANT Speakes to ETF Cleveland 11-22-2009 VISIT THIS INFORMATIVE ABOLISH THE FED SITE...CHECK IT OUT! http://www.abolishthefederalreserve.org/
From President Jackson’s farewell address:
It is well known that there have always been those amongst us who wish to enlarge the powers of the General Government, and experience would seem to indicate that there is a tendency on the part of this Government to overstep the boundaries marked out for it by the Constitution. …There is, perhaps, no one of the powers conferred on the Federal Government so liable to abuse as the taxing power. …Congress has no right under the Constitution to take money from the people unless it is required to execute some one of the specific powers intrusted to the Government; and if they raise more than is necessary for such purposes, it is an abuse of the power of taxation, and unjust and oppressive. …Plain as these principles appear to be, you will yet find there is a constant effort to induce the General Government to go beyond the limits of its taxing power and to impose unnecessary burdens upon the people. …There is but one safe rule, and that is to confine the General Government rigidly within the sphere of its appropriate duties. It has no power to raise a revenue or impose taxes except for the purposes enumerated in the Constitution, and if its income is found to exceed these wants it should be forthwith reduced and the burden of the people so far lightened.

--
"As nightfall does not come at once, neither does oppression. In both instances, there's a twilight where everything remains seemingly unchanged, and it is in such twilight that we must be aware of change in the air, however slight, lest we become unwitting victims of the darkness. " - William O. Douglas

Discussion Forum

State Banks - Pros and Cons.

Started by Pete. Last reply by Pete Sep 24, 2010. 4 Replies 0 Likes

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Comment Wall

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You need to be a member of End The FED Cleveland Ohio to add comments!

Comment by Harold Rainsberger on December 4, 2011 at 10:27am: Maybe I clicked a link that actually was at the end of another embedded video, maybe you didn't have him posted here.

Comment by Harold Rainsberger on December 4, 2011 at 10:26am: BILL MAHER HERE??????? WTF? You need to look more at what he usually says, he is a political idiot. He can't make up his mind on issues any better than Gingrich can.

Comment by Tumbleweed Steve on December 4, 2011 at 2:31am: The Secret TARP program‏

Your money...
Flushed down the toilet for the benefit
of a few well connected banks.

Video: http://www.realecontv.com/page/5949.html

Ken McCarthy
Real Econ TV

Comment by Tumbleweed Steve on December 3, 2011 at 3:00am: MF Global customer: Entire Fund Account is Missing‏

MF Global, the one-firm "fractal" failure...

http://www.reuters.com/article/2011/12/02/us-mfglobal-missing-accou...

``An Illinois-based futures fund on Friday said its more than $50 million account with the broker-dealer unit of MF Global Holdings Ltd (MFGLQ.PK) is missing, and asked a federal bankruptcy judge to order the trustee to find it. Highridge Futures Fund LLP said the trustee James Giddens has refused to help locate its account with MF Global Inc, even after transferring some 38,000 other accounts and giving customers access to some of their collateral.''

Comment by Tumbleweed Steve on December 3, 2011 at 2:55am: Rand Paul Defeats Detainee Amendment - Your Calls Worked!‏

Yes, good news. Unfortunately, the fight is far from over.

Hope everyone is stocked up on food and water....looks like the dollar will soon be fancy toilet paper.

http://paul.senate.gov/?p=press_release&id=399

Comment by Tumbleweed Steve on December 3, 2011 at 2:53am: Wall Street trying to re-write history‏

Wall Street has been floating this sad storyfor a while now: "If only those evil politicians hadn't forced usto make loans to poor people, none of thiswould have happened." What a crock. The real cause of the ongoing credit collapsetrain wreck.

Video: http://www.realecontv.com/page/5862.html

Ken McCarthy

Real Econ TV

Comment by Tumbleweed Steve on December 2, 2011 at 8:17pm: Proposal: Occupy Los Angeles Rejects the National Defense Authorization Act‏

This proposal will be considered by the General Assembly of Occupy Los Angeles on Friday or Saturday night (7:30 PM, City Hall steps):

"Occupy Los Angeles Rejects the National Defense Authorization Act

Occupy Los Angeles demands that President Obama veto the National Defense Authorization Act. The legislation includes provisions which destroy the Constitutional rights of Habeas Corpus and Due Process. American citizens and all people everywhere have the inalienable right to contest their imprisonment and to a civilian trial by jury. We reject this and all legislation which abridges these rights as well as the false belief that doing so will make the nation more secure. Additionally, the bill funds wars that the majority of Americans oppose. These endless, senseless wars only serve the Corporatist interests of the 1% and we oppose this and all legislation which enables and perpetuates them."

Comment by Tumbleweed Steve on December 2, 2011 at 6:51pm: CFR Corporate Members Get Lion's Share of Bailout Funds‏

CFR Corporate Members Get Lion's Share of Bailout Funds

http://thenewamerican.com/economy/commentary-mainmenu-43/915

Comment by Tumbleweed Steve on December 2, 2011 at 6:17am

Weekly News Wrap-Up 12.2.11

Posted: 02 Dec 2011 12:07 AM PST

By Greg Hunter’s USAWatchdog.com It’s official. America is now committed to bailing out Europe—again. The Federal Reserve announced, this week, it would use something called dollar “swaps” to give EU banks cheap easy money to keep their banks from imploding under the weight of sour sovereign debt. Some big U.S. banks are also exposed and could end up in bankruptcy, if the EU collapses. The Fed may bail them out for now, but the cost to U.S. citizens will be higher inflation. News broke, this week, that China will protect Iran ...

Comment by Tumbleweed Steve on December 2, 2011 at 2:49am: Barnhardt: "MF Global Shows Rule of Law Is Dead"

http://www.financialsense.com/financial-sense-newshour/guest-expert...

Must-listen... Barnhardt is quite the firebrand, but deadly accurate.
Another sample: "people like Corzine are sociopaths intent on destroying the country a Cloward-Piven strategy and building a Marxist-Communist-Fascist replacement from the rubble"