And So I Go: Yesterday, Today and Tomorrow

» Geithner and Bernanke: Laundering Money Through an Illegal Trust? – Big Government

Posted on: February 3, 2010

» Geithner and Bernanke: Laundering Money Through an Illegal Trust? – Big Government

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2 Responses to "» Geithner and Bernanke: Laundering Money Through an Illegal Trust? – Big Government"

“BB” correct me if I’m wrong but I think government banking, or at least TARP banking went like this. The Federal Reserve, which has only one customer the USA government, sends a note to say CITI Bank notifying them that they now have received a 100 billion loan. CITI Bank then puts this 100 billion into thier asset column and it’s business as usual although no monies physically is transfered to CITI Bank only basicly a letter of credit. Then we have the payback which is a little bit different, seems the Federal Reserve gets thier payback in actual cold hard cash, but they didn’t loan cold hard cash to begin with. Now my question is where does this payback, cold hard cash monies go and how is it accounted for on the books? Beau

Very Good question Beau. As I see it the Treasury now has some cold hard cash in it’s coffers. Of course they also have those IOU Treasury Notes they sold to China/Japan/ India and others in order to get the letter of credit to give to the banks. This then is the cold hard cash Geither and Obama are using for more spending programs. It is their slush fund. BB

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BB’s file cabinet

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