First The Pope, Next It Will Be The Fed Chairman

Corruptions and scandals in major Western institutions is beginning to reach the news headlines. The stink is just too much, even the corrupt corporate media can't ignore it anymore. You can only cover your nose for so long. You can only look away for so long. The Federal Reserve Bank's secret back-room agreements with Wall St. biggest banks, and Western governments, is too big of a story to let go. Soon, even TMZ will be on the trail of major government officials who have covered-up for the Fed's secret proceedings. The veil on the institutional fraud and wide-scale market manipulation by Wall St. financial schemers and their government lapdogs will be pulled back sooner or later. But the unwrapping will get messy. Pulling back layers of systematic deceit is a nasty thing, but it must be done, if we want a healthy, honest, and productive world.

The psychological awakening of the age has begun to influence the political and social world. People are demanding change worldwide, and no propaganda or force in the world can stop public opinion. No power in the world can hide from the truth. For the private Federal Reserve Bank, the day of reckoning has arrived. Even the Pope isn't untouchable. Power falls; absolute power falls absolutely.

Jesse's Café Américain - The Federal Reserve's Veil of Secrecy Is Being Taken Down, But Slowly:

One of the first things that 'put me off' of Obama was the choice he made of key appointments to his Administration, selecting the two Robert Rubin acolytes Tim Geithner and Larry Summers to his team, marginalizing Paul Volcker, and then making no place for Robert Reich. Although I am sure that, like the rest of us, he puts his pants on one leg at a time, he has shown himself to be a remarkably intelligent and competent member of the Washington political world. I admire him.

Make no mistake, the Fed looks to have been abusing its secrecy and its position, and Bernanke and Geithner are culpable. Reich makes the points as well or better than I could so here is his recent piece on the subject. All the blog's are picking it up.

As I recall, the Fed said they were only acquiring 'investment grade' instruments, which would be taken on its balance sheet in support of the US Dollar, in addition to the usual Treasury Debt. The recent exposures of the holdings of Maiden Lane show these to be more like junk bonds, and certainly not as represented.

Continued. . .