Paul W Kincaid
Thu, Dec 6, 2012
Subject: Geithner & Paulson Fed Embezzlement
2011 Congressional audit forfeits Federal Reserve franchise for violation of law.
Posted by Paul W Kincaid World news Tuesday, November 27th, 2012
A Congressional audit of the Federal Reserve last year found the Federal Reserve Bank guilty of violating US laws. The Sanders Report, a Government Accountability Office investigation record, revealed that the privately owned Federal Reserve secretly and “unlawfully” doled out $trillions in zero interest loans and concealed electronic funds transfers (a.k.a. money laundering) to itself and some of the largest financial institutions and corporations in the United States and throughout the world.
The investigative arm of Congress determined that the Federal Reserve acted illegally. In fact, according to the report, the Federal Reserve knew their financial transactions were illegal and provided conflict of interest waivers to its employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
During the financial crisis, at least 18 former and current directors from Federal Reserve Banks worked in banks and corporations that collectively received over $4 trillion in low-interest loans from the Federal Reserve – a.k.a Federal Reserve Bank of New York Timothy Geithner. Sanders gives you who and how much they illegally received in this US Senate report – http://www.sanders.senate.gov/imo/media/doc/061212DimonIsNotAlone.pdf
The US Congressional report provides evidence of major securities fraud in the embezzlement of as much as $16 trillion by the Federal Reserve and its bankers. Securities fraud and embezzlement are both felony criminal offenses. Any violation of law (criminal offense) committed by the Federal Reserve forfeits the Federal Reserve franchise – U.S. Code TITLE 12 CHAPTER 3 SUBCHAPTER IX § 341. Second states:
“A Federal reserve bank shall become a body corporate and as such, and in the name designated in such organization certificate, shall have power—
First. To adopt and use a corporate seal.
Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.”
This “how to get rid of the thieving Federal Reserve” provision is also clearly stated in the Federal Reserve Act, which can be found on the Federal Reserve Bank’s own website – http://www.federalreserve.gov/aboutthefed/section4.htm
Embezzlement is the act of dishonestly appropriating or secreting assets by one or more individuals to whom such assets have been entrusted. Embezzlement is performed in a manner that is premeditated, systematic and/or methodical, with the explicit intent to conceal the activities from other individuals, usually because it is being done without their knowledge or consent. U.S. Code TITLE 18 > PART I > CHAPTER 31 – EMBEZZLEMENT AND THEFT § 644. Banker receiving unauthorized deposit of public money
Whoever, not being an authorized depositary of public moneys, knowingly receives from any disbursing officer, or collector of internal revenue, or other agent of the United States, any public money on deposit, or by way of loan or accommodation, with or without interest, or otherwise than in payment of a debt against the United States, or uses, transfers, converts, appropriates, or applies any portion of the public money for any purpose not prescribed by law is guilty of embezzlement and shall be fined under this title or not more than the amount so embezzled, whichever is greater, or imprisoned not more than ten years, or both; but if the amount embezzled does not exceed $1,000, he shall be fined not more than $1,000 or imprisoned not more than one year, or both.
$16 trillion is 10 times more than what the U.S. Congress authorized and Bush ($700 billion) and Obama ( $787 billion) signed off on. The Federal Reserve was only authorized by Congress to disburse $1.487 trillion in federal tax dollars in bailouts and financial aid, not $16 trillion. The Federal Reserve embezzled (to appropriate fraudulently to one’s own use) another $14.5 trillion.
The Congressional report determined that the Fed secretly hide most of the embezzled money into their own banks. The rest the Fed unilaterally transfered trillions of dollars to foreign banks (Federal Reserve Bank of New York Primary Dealers) and corporations from Canada to the UK, from the UK to EU banks and corporations and as far away as South Korea. Foreign banks and corporations which the Federal Reserve bankers had a personal financial interest or stake in.
The list of institutions that received the most money from the Federal Reserve can be found on page 144 of this GAO government report – http://www.gao.gov/new.items/d11696.pdf
The Federal Reserve Bank of New York (Timothy Geithner) embezzled and money laundered US tax dollars to the following US Federal Reserve Banks and foreign “Central” banks. This list is a list of co-conspirators in the Federal Reserve Bank orchestrated US and EU financial Crisis. The money they stole and laundered caused the US and EU financial crisis. Their illegal activity created the Greece debt crisis (Goldman Sachs), the France debt crisis, the Spain debt crisis and the Italy debt crisis.
Citigroup: $2.5 trillion ($2,500,000,000,000) – ties with the CIA – In 2010 John M. Deutch, a former director of the Central Intelligence Agency, stepped down as a Citigroup director of 12 years. Citigroup/Citibank have been investigated for CIA Mexican and Afghanistan drug money laundering – Google “Citibank officer, Amy Elliot” In 2008, Citigroup reportedly lost $27.7 billion, and yet it awarded its employees $5.3 billion in bonuses. Report $27.7 billion in loses and get $2.5 trillion to cover your alleged loses.
Morgan Stanley: $2.04 trillion ($2,040,000,000,000) – earned $1.7 billion in all of 2008 yet handed out $4.475 billion in bonuses and received a whopping $2.04 trillion from the FED bank robbers.
Merrill Lynch: $1.949 trillion ($1,949,000,000,000) – In one year between July 2007 and July 2008, Merrill Lynch reportedly lost $19.2 billion yet handed out $3.6 billion in bonuses
Bank of America: $1.344 trillion ($1,344,000,000,000) – earned $4 billion in 2008 and paid out $3.3 billion in bonuses in 2008
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000) – it received nearly $1 trillion even though it no longer existed as it was taken over by JP Morgan Chase in May of 2008 with the fraudulent help of Federal Reserve Bank of New York Timothy Geithner. Geithner gave a $30 billion loan to J.P. Morgan to buy Bear Sterns for $10 a share.
Goldman Sachs: $814 billion ($814,000,000,000) – earned $2.3 billion for the entire year 2008, reported it lost $2.1 billion on Dec 16, 2008 and then the very next day handed out $4.8 billion in bonuses. Goldman Sachs handed out more money in bonuses than what they earned all year.
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000) – earned $5.6 billion in 2008 and paid out $8.69 billion in bonus money.
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000) – said it lost $3.9 billion in third-quarter of 2008 and handed out $2.5 billion in bonuses the same month – September 2008. Just days later, at 1:45AM on September 15, 2008, the firm filed for Chapter 11 bankruptcy protection. Banks that no longer exist got $1 trillion ($183 billion – Lehman Brothers + $853 billion – Bear Sterns) in US tax dollars from the heisters at the Federal Reserve.
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000) …
The Sanders report also reveals that the CEO of JP Morgan Chase served on the New York Fed’s board of directors at the same time that his bank received more than $390 billion in federal money from the Fed – conflict of interest. Moreover, JP Morgan Chase served as one of the clearing banks (money laundering banks) for Timothy Geithner’s Federal Reserve Bank of New York emergency loans programs (a.k.a – embezzlement schemes).
In another disturbing finding, the Government Accountability Office said that on Sept. 19, 2008, William Dudley, who is now the New York Fed president, was granted a waiver to let him keep investments in AIG and General Electric at the same time AIG and GE were given federal funds. At that time tax evader Timothy Geithner was president of the Federal Reserve Bank of New York. Timothy Geithner and Henry Paulson, Treasury Secretary and former CEO of Goldman Sachs, triggered the US financial crisis. One reason the Fed (Timothy Geithner) did not make Dudley sell his holdings, according to the audit, was that it would have exposed the Fed’s (Timothy Geithner) conflict of interest and major securities fraud in the embezzlement of $16 trillion.
The investigation also revealed that the Fed (Timothy Geithner) outsourced most of its embezzling to private contractors, many of which were rewarded with extremely low-interest and then-secret loans.
The Fed (Timothy Geithner) outsourced virtually all of the operations of their $16 trillion embezzlement scheme to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo. For their part the same firms also received trillions of dollars in Fed (Timothy Geithner) loans at near-zero interest rates. Morgan Stanley helped the Federal Reserve banker (Timothy Geithner) launder embezzled $trillions into AIG. Geithner and Henry Paulson used the bail out of AIG to money launder the US tax dollars.
A more detailed Government Accountability Office investigation into corruption charges, securities fraud, embezzlement, money-laundering and conflicts of interest at the Fed came out on Oct. 18. The Sanders Report on the GAO Audit on Major Conflicts of Interest at the Federal Reserve
Did you know that the $trillion the Federal Reserve embezzled (US Congress only authorized $1.487 trillion) could pay off the entire U.S. national debt. The U.S. government need only to seize the assets of the Federal Reserve banks (the big six U.S. banks collectively hold about $9.399 trillion in assets) and get back the $trillions that the Federal Reserve illegally embezzled and money laundered to their foreign banks and corporations.
The U.S. government can recover $trillions from the Federal Reserve and their banks through asset forfeiture. Asset forfeiture is confiscation, by the State, of assets which are either (a) the alleged proceeds of crime or (b) the alleged instrumentalities of crime, and more recently, alleged terrorism. Proceeds of crime means any economic advantage derived from or obtained directly or indirectly from a criminal offense or criminal offenses. Crimes committed by the Federal Reserve banks against the United States and its people include; conflict of interest, securities fraud, embezzlement, fraud, money laundering, hoarding, profiteering, larceny, racketeering . . .
In 1982, a criminal forfeiture provision was enacted as part of the Racketeering Influenced and Corrupt Organizations Act (“RICO”), 18 U.S.C. § 1961, which provided for the forfeiture of all property over which the RICO organization exercised an influence.
The Money Laundering Control Act of 1986 added new felony provisions at 18 U.S.C. § 1956 for the laundering of the proceeds of certain defined “specified unlawful activity,” as well as prohibiting structuring transactions under 31 U.S.C. § 5324 (with the intent to evade certain reporting requirements). The law also added civil and criminal forfeiture provisions at 18 U.S.C. §§ 981 and 982 for confiscating the property involved in money laundering.
According to the Legislative Guide to the United Nations Convention against Transnational Organized Crime and the Protocols Thereto, “Criminalizing the conduct from which substantial illicit profits are made does not adequately punish or deter organized criminal groups. Even if arrested and convicted, some of these offenders will be able to enjoy their illegal gains for their personal use and for maintaining the operations of their criminal enterprises. Despite some sanctions, the perception would still remain that crime pays. . . . Practical measures to keep offenders from profiting from their crimes are necessary. One of the most important ways to do this is to ensure that States have strong confiscation regimes”
Top 10 Banks in the United States
Institution Headquarters Assets
1. Bank of America Corp. Charlotte, N.C. $2,340,667,014,000
2. J. P. Morgan Chase & Company New York, N.Y. 2,135,796,000,000
3. Citigroup New York, N.Y 2,002,213,000,000
4. Wells Fargo & Company San Francisco, C.A. 1,223,630,000,000
5. Goldman Sachs Group, Inc. New York, N.Y. 880,677,000,000
6. Morgan Stanley New York, N.Y. 819,719,000,000
7. Metlife, Inc. New York, N.Y. 565,566,452,000
8. Barclays Group US, Inc. Wilmington, Del. 427,837,000,000
9. Taunus Corporation New York, N.Y. 364,079,000,000
10. HSBC North America Inc. New York, N.Y 345,382,871,000
As of Mar. 31, 2010.
Source: Federal Reserve System, National Information Center.
According to United States Code, TITLE 12 CHAPTER 3 SUBCHAPTER IX § 341. Second. states that the U.S. Federal Reserve Banks are to be dissolved today by “forfeiture of franchise for violation of law.” Securities fraud and embezzlement by the Federal Reserve Bank is cause for immediate forfeiture and imprisonment of the Federal Reserve and its bankers.
List of banks involved in the $16 trillion + securities fraud and embezzlement
The Federal Reserve Bank of New York provides an up to date list of “Primary Dealers” obligated to implement the Federal Reserve fraud and embezzlement scheme.http://www.newyorkfed.org/markets/pridealers_current.html
“Primary dealers serve as trading counterparties of the New York Fed in its implementation of (Fed) monetary policy. This role includes the obligations to: (i) participate consistently in open market operations to carry out U.S. monetary policy pursuant to the direction of the Federal Open Market Committee (FOMC); and (ii) provide the New York Fed‘s trading desk with market information and analysis (non-public stock market information – aka insider trading) helpful in the formulation and implementation of monetary policy (so that the Fed can profit from this insider information). Primary dealers are also required to participate in all auctions of U.S. government debt (acquiring wealth generated from the transactions of the illicit funds – aka money laundering for the Fed) and to make reasonable markets for the New York Fed when it transacts on behalf of its foreign official account-holders. (the New York Fed is stating who they are working for – on behalf of its foreign official account- holders)”
List of Primary Dealers (Fed’s money laundering banks. Listed in alphabetical order only.)
Bank of Nova Scotia, New York Agency (the third largest bank in Canada. Opened New York Agency in 1907)
BMO Capital Markets Corp. (the fourth largest Canadian bank)
BNP Paribas Securities Corp. (Paris, France)
Barclays Capital Inc. (London, United Kingdom)
Cantor Fitzgerald & Co. (United States)
Citigroup Global Markets Inc. (FED, CIA drug money laundering bank, United States)
Credit Suisse Securities (USA) LLC (Zurich, Switzerland)
Daiwa Capital Markets America Inc. (Tokyo, Japan)
Deutsche Bank Securities Inc. (Frankfurt, Germany)
Goldman, Sachs & Co. (FED, United States)
HSBC Securities (USA) Inc. (founded in Hong Kong, headquarters London, United Kingdom)
Jefferies & Company, Inc. (United States)
J.P. Morgan Securities LLC (FED, United States)
Merrill Lynch, Pierce, Fenner & Smith Incorporated (United States)
Mizuho Securities USA Inc. (Tokyo, Japan)
Morgan Stanley & Co. LLC (FED, United States)
Nomura Securities International, Inc. (Tokyo, Japan)
RBC Capital Markets, LLC (a Canadian investment bank, part of Royal Bank of Canada)
RBS Securities Inc. (Royal Bank of Scotland Group)
SG Americas Securities, LLC (United States)
UBS Securities LLC. (Zürich & Basel, Switzerland. Rothschild controlled. The Rothschild family hold the popes purse strings from this bank – the keys of the Vatican is a predominate part of their logo.)
All of the above named banks (includes both U.S. and foreign banks) money laundered the over $16 trillion (U.S) that the Federal Reserve (Timothy Geithner) embezzled.
These banks money laundered the Fed (Timothy Geithner) embezzled U.S. Tax Dollars in three steps:
1) the illicit funds are introduced into the financial system by “placement”, – done overnight, after hours, in the form of zero interest and zero amortization loans and trades.
2) the “Primary Dealers” carried out complex financial transactions in order to camouflage the illicit funds (“layering”), and
3) they acquired wealth generated from the illegal transactions (loans, mortgages, stock market trading) of the illicit funds (“integration”).
All listed banks are controlled by the European Central Bank (Rothschild family) which controls it all for the Vatican, which is headed by the Nazi German Pope. All are working to enslave the World under a New World Order, aka Fourth Reich, aka Fourth unHoly Roman Empire.
Tags: 4th Reich, Bailout Fraud, Criminal Forfeiture, Fed Reserve Laundering, Federal Open Market Committee, Federal Reserve Embezzlement Scheme, Federal Reserve Forfeiture of Franchise, Federal Reserve Fraud, Forfeiture of Franchise, Henry Paulson Embezzlement, Money Laundering Control Act, NewYorkFed.org, Paul W Kincaid, Primary Dealers, Rothschild Banks, Sanders Report on the GAO Audit, Timothy Geithner Embezzlement, UBS Securities LLC, Vatican Conspiracy