Barclays Plc – #10 recipient of Fed’s “secret liquidity lifelines”

 

Barclays Plc is a major multinational banking and financial services company headquartered in London.

Excerpts from  Bloomberg  Nov 28, 2011:                                                                    “There was not a direct subsidy to Barclays” from governments during the financial crisis, Chief Executive Officer Robert Diamond told a U.K. House of Commons hearing in London on June 8, 2011. While the company avoided taking government capital, it was more accepting of emergency cash from the U.S. Federal Reserve. Data show that the London-based bank borrowed $64.9 billion from the Fed on Dec. 4, 2008, more than two months after it agreed to buy the North American unit of Lehman Brothers Holdings Inc. in a bankruptcy auction. The London-based bank was still borrowing more than $40 billion from the Fed as late as June 2009, nine months after the Lehman deal closed. Sarah MacDonald, a Barclays spokeswoman, declined to say whether the bank also got liquidity from the Bank of England.

Peak amount of debt on 12/4/2008:  $64.9B                                 ____________________________

U.S. citizens deserve nothing less than the same access to liquidity that the Federal Reserve provided to Barclays.

The Leviticus 25 Plan

Dynamic change for Americans: The Leviticus 25 Plan

America needs an economic plan that is better than…:                                               – Adding more people to the food stamp roles                                                                   – Adding more people to Means Tested Welfare programs                                                – Adding more people to Income Security Programs                                                          – Extending Emergency Unemployment Compensation                                                      – Mandating new minimum wage hikes

Better than .. :                                                                                                                    – Foreclosure auctions on the homes of American families                                                 – ‘REO to Rent’ shemes                                                                                                       – Cash for Clunkers and other useless federal stimulus programs

Better than…:                                                                                                                               – Deepening national debt levels                                                                                         – Economic stagnation

Better than big-government, central-planning operations that ‘dribble’ benefits out to beneficiaries each month in order to keep them ‘on the string’ and ‘under control.’

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America needs a real economic acceleration plan that provides direct access to liquidity and debt reduction at ‘ground level’ –  for American families.

America needs a plan that will generate significant new tax revenues at the federal, state, and local levels – without tax increases.

America needs a plan that will free people from the entanglements of government and advance the cause of economic liberty in America.

The Leviticus 25 Plan

 

Deutsche Bank AG – #9 recipient of Fed’s ‘secret liquidity lifelines’

Even foreign banking interests, with U.S. subsidiaries, enjoyed massive liquidity infusions to help them deal with their faltering financial conditions and debt burdens.

Excerpts fromBloomberg  Nov 28, 2011:                                               “Deutsche Bank AG, Germany’s biggest bank, navigated the financial crisis without capital injections from the German government. The Frankfurt-based bank, which in 2008 reported its first annual loss since World War II, wasn’t so shy about getting liquidity in secret from the U.S. Federal Reserve. The lender tapped the Fed for $66 billion on Nov. 6, 2008 — $28.2 billion from the Term Securities Lending Facility, $21.8 billion from single-tranche open market operations and $16 billion from the Term Auction Facility. John Gallagher, a Deutsche Bank spokesman, declined to say whether the bank took emergency loans during the crisis from other central banks, such as Germany’s Bundesbank.”                                                                                             Peak amount of debt held on 11-6-2008:  $66B                                      ……………………………………    

It is time for U.S. citizens to be granted the same access to liquidity (their own money)  that was provided to major banking concerns – including foreign banks, like Deutsche Bank, during the financial crisis..

Deutsche Bank tapped billions from the Term Securities Lending Facility (TSLF), single-tranche open market operations (STOMO), and theTerm Auction Facility (TAF).

It is now time for the creation of a Citizens Credit Facility (CCF) to provide direct access to liquidity for U.S. citizens – to successfully manage their own financial challenges and reduce debt at the family level.

The Leviticus 25 Plan.

Europe needs a real economic acceleration plan – not a massive, ‘fake’ central-planning scheme

 Europe’s economic recovery is plain ‘wobbly.’

 The ECB’s long-running large scale asset purchases and recent notable failed bond sterilizations are doing nothing for the average citizen of the European commonwealth.

 Excerpts from Michael Snyder of The Economic Collapse blog,                                  accessed via ZeroHedge 1-9-2014:

“If you are anxiously awaiting the arrival of the “economic collapse”, just open up your eyes and look at what is happening in Europe.  The entire continent is a giant economic mess right now.  Unemployment and poverty levels are setting record highs, car sales are setting record lows, and there is an ocean of bad loans and red ink everywhere you look.  Over the past several years, most of the attention has been on the economic struggles of Greece, Spain and Portugal and without a doubt things continue to get even worse in those nations.

But in 2014 and 2015, Italy and France will start to take center stage.  France has the 5th largest economy on the planet, and Italy has the 9th largest economy on the planet, and at this point both of those economies are rapidly falling to pieces.  Expect both France and Italy to make major headlines throughout the rest of 2014.  I have always maintained that the next major wave of the economic collapse would begin in Europe, and that is exactly what is happening.  The following are just a few of the statistics that show that an “economic collapse” is happening in Europe right now

-The unemployment rate in the eurozone as a whole is still sitting at an all-time record high of 12.1 percent.”   Full article

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Europe needs a dynamic new plan that provides direct liquidity resources to the people –   a ‘citizen-centered’ plan that re-establishes individual freedom and economic liberty.      The Leviticus 25 Plan

 

Income Inequality? Solved: The Leviticus 25 Plan

America has had 5 years of government-directed big money ‘solutions’ to solve our economic and health care problems.  Trillions of dollars have been pumped out through the government’s big pipes and the Federal Reserve’s various credit facilities.

The result:  over the past 5 years America has seen a growing disparity between rich and poor.

The latest official proposals to deal with this disparity are…. drumroll, please… more of the very things that have failed to work in the past (also known as, “if the soup is bad, just make more of it”).

The latest proposals, hot off the press are:                                                                             1.  Tax reform (higher taxes on the rich – to redistribute to lower quintiles of wage earners). 2.  Significant increases in the minimum wage.                                                                       3.  New extensions to federal unemployment subsidies.

These proposals do provide a ‘feel-good’ benefit for social-minded elite thinkers.

They do promote envy and resentment among the income classes in America.

They do benefit well-oiled, politically-connected groups in America – with only marginal ‘spill-over’ benefit for lower-income groups.

They do facilitate continued dependence on government.

They do not reward industriousness, hard work, wise-decision making.

They do distort price structures.

They do not advance the cause of economic liberty in America.

They have not worked in the past.

They will not work in the future.

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Now imagine an economic acceleration plan that extends liquidity direct to American families – in much the same way that the Fed pumped massive liquidity transfusions out to the big (domestic and foreign) banking interests over the past 5 years.

The Leviticus 25 Plan does just that – direct liquidity extensions to American citizens.

Everyone is treated the same.  It does not promote class envy.

Political favors are no longer part of the liquidity allocation scheme.

Hard work, industriousness, wise decision making is not penalized, but rewarded.

This Plan improves efficiency across the board, reduces cost, and helps to alleviate government-inspired price distortion in our economic system.

The Leviticus 25 Plan does not facilitate continued government dependence.  It promotes self-reliance and freedom from government interference in the affairs of daily life.

It delivers massive debt relief and real benefits to American families and advances the cause of economic liberty across the land.

The Leviticus 25 Plan pays for itself over 10-15 years.  No other plan does that.  Anywhere.

JPMorgan Chase – #8 recipient of Fed’s ‘secret liquidity lifelines’

Bloomberg  Nov 28, 2011:   “JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has touted a “fortress balance sheet” that helped his bank survive the crisis better than rivals. “The markets were always open to us,” Dimon wrote in a letter to shareholders in March 2010.

Data show the New York-based bank got Federal Reserve liquidity after its March 2008 acquisition of Bear Stearns Cos. and in early 2009 as debt markets froze. In February and March 2009, JPMorgan borrowed $48 billion from the Fed’s Term Auction Facility, as executives said liquidity was “strong.” In the March 2010 letter, Dimon said JPMorgan loaned as much as $70 billion to other banks after Lehman Brother’s failure and bought “a net $250 billion of securities” to help facilitate market liquidity. The Fed loans became public in late 2010.”

Peak amount of debt on 10/1/2008:  $68.6 billion

One simple, powerful ‘fix’ for the U.S. healthcare system

The U.S. healthcare system needs one simple fix – a citizen-based allocation of resources, rather than the current big-government central planning allocation of resources.

Our politicians and various government agencies have created a lumbering, red-tape laden healthcare monstrosity – with bureaucrats, analysts, programmers, regulators, monitors, enforcers, healthcare coaches, and NFL advertisers all involved in the so-called healthcare ‘food chain.’

And none of those players have anything to do with patients at the point of care  –  timely access to their preferred physicians, pharmacists, and other primary care providers.

 We need to refocus on the patient – provider relationship.  We need to decentralize and return to a citizen-based allocation of resources for our basic, day-to-day healthcare needs.

This action would involve directing the Federal Reserve, through a “Citizens Credit Facility” (CCF),  to electronically deposit $20,000 in to the Medical Savings Account (MSA) of every U.S. citizen who wishes to participate.

Amend the individual mandate to bring the private insurers back onto the playing field by allowing families to purchase high-deductible major medical policies with precisely the types of coverage that fit their needs and desires. 

The dynamic benefits would lower costs, improve efficiency, encourage wise decision-making, and improve access to primary care for all Americans.

In addition, for a period of 5 years, participating U.S. citizens concurrently enrolled in Medicare, Medicaid, VA, Tricare, and FEHB (approximately 121 million people) would each pay a $4,000 annual deductible (a total of $484 billion – completely covered by MSA funds). This refocused allocation of resources would amount to $2.5 trillion over 5 years.

This “Citizens Plan” would have a wonderful, cleansing effect.  It would cut out massive and burdensome administrative costs and restore individual freedom of choice for choosing one’s own providers and services.  And all citizens would have the resources they need for basic day-to-day healthcare needs.

Doors are closing fast in the healthcare field.  We need a rescue plan that re-establishes individual choice and economic liberty.  Cash paying customers would keep those doors open.  America needs that. 

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The Leviticus 25 Plan is a comprehensive economic recovery plan that incorporates such a decentralized approach – on a broad basis.

During the economic crisis 2007 – 2010, the Federal Reserve and U.S. Treasury provided massive liquidity transfusions to major bank and money centers.  It is now time to provide equal access to liquidity for U.S. citizens.

December 28th – Extended unemployment benefits ‘run out’ for 1.3 million Americans

According to a Bloomberg report ( Dec 29, 2013:  Unemployment Benefits Lapse Severs “Lifeline for Longtime Jobless ), at the end of October there were “3.9 million job openings across the U.S.” while at the same time, 11.3 million people were looking for work, but couldn’t find it.

At the end of November, 4 million Americans had been “out of work for more than 27 weeks.”

As of December 28th, federal extended unemployment benefits ran out for 1.3 million Americans. And economic hardship is likely to be severe for many.

One of those affected responded, “I just don’t know what to do, except pray.”

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The Leviticus 25 Plan would alleviate the economic distress that millions of Americans currently face on a daily basis.

The Leviticus 25 Plan is the only comprehensive economic plan in America that delivers real solutions direct to American families – in a manner similar to that provided by the Federal Reserve to major bank and money centers (domestic and foreign).

It is the only Plan in America that doesn’t continue to facilitate ‘dependence on government” by the underclass.

It is the only Plan in America that reverses the wide-scale work ‘disincentives’ that underpin nearly every government social program.

The Plan promotes economic liberty for all Americans – and all U.S. citizens receive the same opportunity to participate.

The Plan pays for itself over 10-15 years.

The Leviticus 25 Plan 2014 – The $64,000 Solution                                              December 2013 – Updated version                                                                                 The Leviticus 25 Plan – An Economic Acceleration Plan for America 2014 (246)