it has been well recorded that jews cant charge each other ursury[as even revealed by a search on this forum
http://forum.onlineopinion.com.au/search.asp?cx=partner-pub-0168091956504304%3Ayb7rk7-ta83&cof=FORID%3A11&ie=windows-1252&q=jews+ursury&sa=Search#1075

thus whosoever charges a fellow jew ursury dooms themselves into hell..[thus clearly those jews running the banking system cannot be charging each other ursury]...no matter how cleverly we may talk about balance sheets...the one surity in the balance..is not to charge ursury to a brother jew

http://www.google.com/search?ie=UTF-8&oe=UTF-8&sourceid=gd&q=jews+ursury&hl=en-GB&rls=MEDA,MEDA:2008-36,MEDA:en-GB

clearly if they are charging each other ursury they are revealed as godless athiests..[capable of doing the most vile]..is this not excuse enough to audit the fed..[to find out if these ursurors controling the issueing of credit and currency ursury free to their fellow jews..are god abiding or godless]...if godless the system they suss-taint is revealed as godless

I shall ignore your anti-semitism oug, and address some of your other misapprehensions.

>>pericules loves making his/her destractions[he/she minimises the onselling of the surity.<<

If I understand you correctly you are suggesting that I "minimize" the impact that securitization has had on the economic pain we are suffering.

That simply isn't so. I have written here on a number of occasions that the careless packaging of toxic debt, and the manner in which the true nature of the borrower has been obscured - often with the active assistance of Rating Agencies - has been a major "first cause".

I have in fact stressed that it was this process, where the quality of the security was hidden, that caused so much pain when it became necessary to unravel the deals involved.

For the US borrower, all they needed to do was send back the house keys and move out. They had no further obligation.

But for the Bank, they lost the income stream, and also had to write off (revalue downwards) some portion of the underlying asset against which they had lent. If that liability - i.e. the reduced value of the property - was also reflected in multiple "packages" that had been used as assets on someone else's balance sheet, the whole edifice comes a-tumbling down.

By the way, I'm not an accountant. I never have been an accountant. Unlike Maximillion, I have never been married to one. I have had no formal training in finance. I do not work in Finance, nor have I ever worked in Finance.

I am however interested in what goes on in the world, and in making sure that I understand it as much as possible.

>>the fact still remains its a private for proffit franchise..underwritten by our taxes..that go straight to the fed[under the terms of the bankruptsy...via war debt our govts owed to the bankers<<

It might help a little if you wrote more carefully, oug. I don't understand a word of this, and it seems to be at the heart of your concerns.

http://www.apfn.org/APFN/Fed_reserve.htm
gives a brief overvieuw
http://www.gibson2.com/econ135/fed.pdf

it is suggested you read the creature from jeckle island

http://www.google.com/search?hl=en&rls=MEDA%2CMEDA%3A2008-36%2CMEDA%3Aen-GB&q=the+creature+from+jekyll+island+download&aq=3&oq=the+creature&aqi=g10

or the audio version
http://thepiratebay.org/torrent/4457906/The_Creature_From_Jekyll_Island_-_G._Edward_Griffin

http://goldismoney.info/forums/radio.blog/
click on last link
[skip the intro]

there is plenty of info on the topic
http://www.pdf-search-engine.com/G.%20Edward%20Griffin%20The%20Creature%20from%20Jekyll%20Island-html-www.beearly.com/pdfFiles/Jekyll10112006.html

the book is haRD TO FIND..[SEEMS THERE IS A second book[most links link to some intervieuw]..but research reveals the truth, dispite the obvious attempts to muddy the water's
http://www.spielbauer.com/JekyllDownload.htm
http://www.google.com/search?hl=en&rls=MEDA,MEDA:2008-36,MEDA:en-GB&q=creature+from+jekyll+island+ebook&revid=1602833997&ei=7Is5SoDoCsWjkAWyluCsCw&sa=X&oi=revisions_inline&resnum=0&ct=broad-revision&cd=2&tbo=1

You are obviously hooked on conspiracy theory, oug.

And as with any conspiracy theory, there is little point in arguing facts with you, because you clearly won't accept them.

But just out of interest, and using your own mental faculties rather than parrotting the chatterings of others, could you please describe to me once again the point at which you believe that money is being "created out of thin air", which seems to be the mantra on which your misperceptions are based.

The reality, whether you like it or not, is that the creation of an asset automatically brings with it the creation, or recognition, of a liability. This is most often in the form of a promise to repay, at sometime in the future, the amount that was "created".

There is absolutely no exception to this rule.

None.

Today Obama has given more power to the US Fed Res.He has given them more power to Govern the operations of the smaller banks and control over the Corporations who have been bailed out.Talk about putting the fox in charge of the chicken coop. http://news.bbc.co.uk/2/hi/business/8104700.stm

Obama has not a clue and transfers responsibility to a GROUP OF PRIVATE BANKS WHO CREATED THIS WHOLE DEBACLE!

The Fed is not doing it's job since the business community is now suffering from a shortage of credit since the Fed is too busy bailing out it's mates and probably using tax payer's debt money to buy up cheap assets.This is why Ron Paul and now 231 congressmen want an audit.We are also seeing our rates rise because of this shortage of credit.This will only prolong and deepen the recession.

see; http://www.moneyandmarkets.com/new-hard-evidence-of-continuing-debt-collapse-3-3407

Hi Pericles. What do you think of the following documentary, "Monopoly men, (Federal Reserve Fraud)"

http://video.google.com/videoplay?docid=-7065177340464808778

Perhaps you could enlighten us about the role of the Federal Reserve which is not a body of the US government.