Entries tagged with United States

Alfredo Jalife-Rahme | jornada.unam.mx | 07/29/2009

We are in the early twenty-first century, when scientific advance has been prodigious, so a loss of more than 500 billion dollars in swaps by the Federal Reserve, which leads Ben Shalom Bernanke, a hard time digesting, even the U.S. legislators themselves, as Alan Grayson, Florida Democratic Representative (Huffington Post, 24/07/1909).

To date there is no plausible explanation, let alone credible, about 134 billion dollars of Treasury bonds that, in mid-June, two Japanese attempted to enter Switzerland in a briefcase across the Italian border ( Bloomberg, 6/17/2009).

This serious smuggling has been successfully diluted when the U.S. government has chosen to delve into other fraud less compromising of five rabbis in New York (The Jerusalem Post, 27/07/2009).

Speaking of Japanese bonds and drawn to the Japanese superfraude a bond for $ 700 million committed by the unforgettable José Madariaga Lomelín (partner no less immemorial Hildebrando Zavala Gómez del Campo), former president of the Bankers Association Mexico and the Banco Mercantil Probursa (acquired by BBVA-Bancomer).

Beyond money laundering, which has been pointed out countless times on unindictable Jose Madariaga Lomelin, the interesting thing about this case expeditiously macabre, suffocating financial fire by Joseph-Marie Cordova and Zedillo, lies in the sudden exposure of such very sui generis of Japanese bonds in amounts too loose go stratospheric.

Facts: During the legislative hearing, Bernanke, Federal Reserve boss, said in an astonishing way to know what foreign banks had granted U.S. $ 500 billion in swaps. As if Bernanke does not know, one of the target countries was the neoliberal Mexico.

Since last March and we smelled very rare massive injection of U.S. dollars to foreign central banks (which included Mexico) by the method of the swaps.

This massive transfer of swaps is done without approval or knowledge, let alone monitoring, the Congress and the White House.

Curious schizophrenically practice model that the United States: on the one hand, the financial dictatorship, and secondly on political democracy (still has the nineteenth-century system of indirect presidential vote that benefits the plutocracy).

Who governs the United States effectively: financial dictatorship or democracy on the nineteenth century?

At present, despite its banking debacle, their relative nineteenth-century political democracy is still controlled by your financial dictatorship, which is subsumed by the exploits of Goldman Sachs.

The triad Bernanke, Tim Geithner (Secretary of the Treasury, which represents the interests of Wall Street) and Larry Summers (presidential economic advisor) has kidnapped Obama, let alone the Congress, which has resulted in an anomalous situation in aberrantly economics: Goldman Sachs wins, while the U.S. lost.

One person, Bernanke, without having been chosen by U.S. citizens, unilaterally decided the fate of the colossal sum of the swaps, which represent an exchange of currencies between two countries at a later date. So we stayed, the swaps are part of the insane financial derivatives speculation.

The legislator Alan Grayson questions: "How was the money used (note: the swaps) to buy Treasury bills and prop up the dollar? The Federal Reserve says ignore it (extra-super-sic). "

Another anomaly is that the same Federal Reserve that serves and pretends as semi-public entity, is largely controlled by private banks.

The Federal Reserve does not consider the exchange as risky (sic), because it holds as collateral to the currencies of foreign banks (note: including Mexico), a claim rejected by Alan Grayson, because it ignores the inherent risk of speculation, which is the same being made by hedge funds (hedge funds).

Something happened with the whole game and handling of currencies and swaps to the balance sheet of the Federal Reserve a passive display 40 times its capital.

According to Alan Grayson, since the beginning of the game of the swaps and their impact on the dollar, it seems that the United States suffered a loss of 100 billion dollars, because the value of foreign currency in the hands of United States depreciated one-fifth.

How much will Banxico lost in the fateful stage Guilermo Zedillo Cordobist-Ortiz, with the "credit swap" with 30 billion dollars that contracted with the Federal Reserve, not counting the other 47 billion dollars in IMF loans International? It is recalled that such credits, totaling 77 billion must be paid. What are the much vaunted reserves of the Bank of Mexico that seem to have vanished?

Does Banxico was unqualified?

How many Mexican legislators (especially Emilio Gamboa Patron, whose latest specialty nurseries seem to be) will know what a swap and what was the mortgage of the currencies of Mexico by the Federal Reserve?

After the massive injection of swaps, the dollar appreciated substantially while the weight is melting away, what Bernanke considered coincidental. The reality is that the unilateral decision of Banxico has resulted in propping up the dollar and undermine the peso.

Alan Grayson insists that someone (sic) had a capital loss (super-sic!), Which obviously was not the Federal Reserve. Who else might neoliberal Mexico, now managed by the kakistocracia (the government of the worst) PAN?

The strong gains in the dollar which was the Federal Reserve (and its corollary of heavy losses in countries like Mexico, they deposit their currency in Washington naively) using the swap operation was due, according to Bernanke, to pay foreign banks interests. Do not tell U.S. does not pay interest?

The serious problem is that the Federal Reserve is immune to independent audit, which is beginning to be requested by Ron Paul, another representative of Texas, the Republican Party.

Who independently audits the Banxico?

At least U.S. lawmakers are concerned about the shady dealings of the Federal Reserve, unlike their Mexican counterparts, totally absent from the ongoing financial debacle, and who have become accomplices, by omission or commission, of dictatorial leadership Banxico, which confuses the stories and accounts largely responsible for the catastrophic devaluation of the peso, along with Calderon and Carstens, of course.

It is urgent to remove the autonomy of the Bank of Mexico, which enjoys dictatorial insanity democratic accountability and transparency of accounts.

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