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Conspiracy Theories

$700 Billion Bank Bailout Was a Lie, it was Secretly $7 Trillion

$700 Billion Bank Bailout Was a Lie, it was Secretly $7 Trillion 88

November 30, 2011. Washington. In 2008, President Bush, Secretary Paulson and Chairman Bernanke crafted a bank bailout program they termed TARP or the Toxic Asset Relief Program. It was created in the middle of the night, over a weekend, because if they didn’t act by Monday they said, there wouldn’t be an America anymore. With confusion and fear in his eyes, President Bush handed the reins of power to the former CEO of Goldman Sachs. And instead of limiting himself to the $700 billion Congress grudgingly approved, Hank Paulson printed $7 trillion dollars, funneled it through the Federal Reserve and handed it over to the world’s biggest banks with no strings attached and in total secrecy.

$700 Billion Bank Bailout Was a Lie, it was Secretly $7 Trillion 89

While watching Whiteout Press’ favorite morning business show, ‘In Business with Margaret Brennan’ on Bloomberg TV, the show was interrupted by a startling announcement. Bloomberg investigators had uncovered details that the most powerful men in Washington and New York were desperate to keep secret. In fact, Bloomberg had to sue the Federal government for access to the events of 2009 and 2010 regarding the US bank bailout. The Federal Reserve however, insisted all details of the largest bank bailout in the history of the world had to be kept completely secret from the American people.

The government fought releasing the secret details all the way the US Supreme Court. Earlier this year, Bloomberg won their lawsuit. Treasury and the FED weren’t going to surrender to the American people that easy however. The FED turned over 29,000 documents and details of 21,000 transactions made during the time period covered by TARP and the nation’s bank bailout. Attempting to handcuff Bloomberg investigators with an avalanche of documentation, imagine their surprise when Margaret Brennan’s show was interrupted yesterday with the unbelievable news that the bank bailout American’s were led to believe was only $700 billion, was actually $7.77 trillion. According to the NY Fed, the total amount of US currency in circulation in the entire world at the time was only $829 billion.

While the events are difficult to follow for anyone who’s not familiar with the strange way America’s banking and economic system works, not to mention all the government and Wall Street secrecy, here’s a novice’s view of what happened during the panicked early days of America’s economic collapse. When the $700 billion bank bailout authorized by Congress wasn’t going to be anywhere near enough to save banks like Goldman Sachs, JP Morgan, Citigroup and Bank of America, Ben Bernanke and the FED opened up the nation’s discount borrowing window – to the tune of $7.77 trillion dollars.

Republican Presidential candidate Ron Paul (R-TX) could do a much better job of explaining the almost criminal nature of the FED than this Whiteout Press author ever could. With his pledge to abolish the FED, Rep Paul might explain – imagine you Joe Citizen walk into your city hall and ask for a $10 billion dollar loan at zero percent interest. They give you, and only you, that loan because you’re ‘special’. You then loan that $10 billion out to others at 5, 10 or 20 percent yearly interest for things like homes, which are guaranteed by the taxpayers, so there’s no risk of nonpayment. When that $15 or $20 billion is paid back to you, you pay back the FED the original $10 billion and keep the rest.

Instead of loaning that $7.77 trillion to the American people as the American government intended, banks throughout the world took advantage of the US taxpayer and used that money to secretly cover massive losses the banks were suffering from their stupidly investing in their own worthless financial instruments – instruments the banks knew were worthless and doomed to fail. Like a modern day shell game, trillions of dollars floated from one banking institution to another, appearing to fill all balance sheet holes everywhere. Not all the banks used the money to fill holes however. Some used it to make massive profits.

The Bloomberg reporting revealed banks like Barclays, Banco Santander and BNP Parabas made a fortune on the US taxpayer program. Barclays turned their money into a $26.7 billion profit. Banco Santander profited $29.2 billion and BNP Parabas made $17.1 billion.

They weren’t alone. According to Bloomberg’s data, 97 different financial institutions around the globe turned their ‘discount window’ into profits during the two years of the financial crisis. The most suspicious part – the US government insisted on keeping every single transaction a secret. In one day alone at the end of 2008, the Federal Reserve gave out $1.2 trillion dollars to banks – the most on any day before or since.

For those who remember, Bank of America was accused of using its funds not to bailout underwater homeowners, but instead to purchase a bank in China. Bank of America made a profit of $14.2 billion using their ‘special’ discount borrowing privilege. Bank of America wasn’t the only player in the middle of the US financial collapse that made massive profits off the US taxpayer. Wells Fargo made $12.1 billion. JP Morgan made $13.8 billion, Goldman Sachs made $12.7 billion, American Express made $1.4 billion, Discover made $1.4 billion, US Bancorp profited $7.2 billion, HSBC made $11.6 billion, PNC Financial $1.4 billion, Lloyds made $9.6 billion and the list goes on and on.

Not all the banks that made massive profits off the US taxpayers during the peak of the financial crisis were well-known American brands. Foreign banks also made billions in profits, including the National Australia Bank, Bank of Toronto, Mitsubishi, Skandinavista, Chang Hwa, the Israel Discount Bank and dozens more.

Not all banks used the US taxpayers to make billions in extra profits. Some banks tried, and lost.

Among the banks that lost money on the secret loan program were Citigroup, losing $29.3 billion, Royal Bank of Scotland lost $45.3 billion, Credit Suisse lost $4.1 billion, Deutsche Bank lost $433 million, Fifth Third lost $1 billion, Wachovia lost $31.6 billion, Merrill Lynch lost $35.9 billion, Arab Banking lost $77 million, Allied Irish Banks lost $3.4 billion, Morgan Stanley lost $3 billion, Industrial Bank of Korea lost $559 million and the list goes on and on.

Readers can take their pick regarding which aspect of this story to be most angry about. Some will be outraged that for-profit banks are taking advantage of the US taxpayer and making billions in free money. Others will be angry that based on the above list, it appears the US taxpayer is also guaranteeing the profits of foreign banks all over the world. And some will be outraged by the fact that the entire story was kept secret from not only the American people, but also their representative in Congress and even officials at the FED.

Bloomberg asked one longtime critic of giant banks, Rep. Sherrod Brown (D-OH), to comment. “When you see the dollars the banks got, it’s hard to make the case these were successful institutions,” she says, “This is an issue that can unite the Tea Party and Occupy Wall Street. There are lawmakers in both parties who would change their votes now.”

Bloomberg also quotes other individuals who should have been aware of what was going on, but weren’t. Gary H. Stern, Minneapolis FED Chairman at the time, insists he, “wasn’t aware of the magnitude.” Rep. Brad Miller (D-NC), member of the House Financial Services Committee, says, “TARP at least had some strings attached. With the Fed programs, there was nothing.”

Misleading Shareholders

With hindsight being 20/20, Bloomberg looked at some of the biggest emergency borrowers and compared their financial situation with the outlook and forecasts made by the bank’s CEO’s to their shareholders. One such example is Ken Lewis, CEO of Bank of America. On November 26, 2008 he informed shareholders that BofA was, “one of the strongest and most stable major banks in the world.” We’ll let you the reader decide – Bank of America owed the US government a staggering $86 billion on that day.

Another example is JP Morgan Chase’s CEO Jamie Dimon. On March 26, 2010, he reassured his shareholders that JP Morgan didn’t need a bailout and only participated in the program in the beginning, “at the request of the Federal Reserve to help motivate others to use the system.” In reality, JP Morgan was still taking advantage of the emergency program and owed the US government $48 billion dollars more than a year after the program began.

As far as the American people go, the two Representatives of theirs in Congress that should have been made aware of what was going on, weren’t. Both the Republican and Democratic overseers of the massive bank bailout, Rep. Judd Gregg (R-NH) and Rep. Barney Frank (D-MA), both confirmed to Bloomberg they were kept in the dark.

“We were aware emergency efforts were going on” Frank said, “We didn’t know the specifics.” Congressman Frank announced his retirement earlier this week. Rep. Judd Gregg simply responded, “We didn’t know the specifics.” Former Congressman Judd Gregg is now employed by Goldman Sachs.

What’s Changed

Most Americans couldn’t explain how banks function or how the bank bailout worked if their lives depended on it. But most assume the US taxpayer loaned billions to banks to save the industry and avoid economic collapse, rampant unemployment and a housing crash. But if one were to take a step back and look at the new landscape, a new picture emerges of what the bank bailout was really about. In the five years from before the crisis in 2006 to after the crisis in 2011, the six largest US banks increased their assets, or money and property they own, from $6.8 trillion dollars to $9.5 trillion.

Dallas Federal Reserve President Richard Fisher summed up the thoughts of many when he called that fact, “un-American”. For more information about the US economic collapse, read the Whiteout Press Special Report, ‘What Caused America’s Economic Collapse’. Special thanks to Bloomberg Marketplace for their detailed reporting.



Conspiracy Theories

Juno probe recorded a radio signal source in orbit of Jupiter which may be an ancient interplanetary station

Juno probe recorded a radio signal source in orbit of Jupiter which may be an ancient interplanetary station 96
© Louis, CK, Louarn, P., Allegrini, F., Kurth, WS, & Szalay, JR (2020)

Juno, is NASA’s unmanned interplanetary station launched on August 5, 2011 to explore Jupiter, the second project under the New Frontiers program. The spacecraft entered the polar orbit of the gas giant on July 5, 2016. The purpose of the mission was to study the gravitational and magnetic fields of Jupiter, as well as to test the hypothesis that Jupiter has a solid core.

Instruments of the Juno interplanetary probe, which is exploring Jupiter, detected a nearby signal at a frequency of about 6.5 megahertz, which is in the range of high-frequency radio waves. On Earth, they are used for ionospheric communications and over-the-horizon radar, but in Jupiter’s orbit, their source is supposedly natural.

Such signals have been known for a long time: they are called decametric radio emission. However, for the first time, a spacecraft recorded them in the immediate vicinity of the place of origin. In fact, the probe flew through the source of the radio burst, near Ganymede, Jupiter’s largest moon.

Juno’s sensors observed the phenomenon for about five seconds, and then it merged with the background radiation. Given the speed of the probe – about 50 kilometers per second – we can conclude that the area of ​​space where the signal is generated is about 250 kilometers across.

As NASA explains, the found radio emission with a frequency of 10-40 MHz creates a stream of electrons rotating in Jupiter’s magnetic field. They generate a radio signal as a result of a process of a certain cyclotron maser instability. 

NASA was so terribly interested in this cyclotron instability that the Juno mission was decided to be extended indefinitely, and now the bright adepts are busy building a new ship, the money for which they managed to get in a record short time.

The intrigue is that the conspiracy theorists knew about this radiation back in October 2020, although NASA only spoke about it now. The story began there with the appearance of the following message on one of the network boards:

Juno probe recorded a radio signal source in orbit of Jupiter which may be an ancient interplanetary station 97

According to this modest text, it was written as if by a CIA officer who went on the run in the fall of 2020. The reason for this was the cleansing of a team of agents who cleared and hid information about the discovery in orbit of Ganymede of an object similar to an interplanetary space station, created using some advanced technology. 

It was opened by the same “Juno”, which on June 6, 2020 discovered a strange radio signal, which NASA reports only now. The signal was very powerful and went in a narrow beam, which does not happen in nature, so the satellite was slowed down and at the next revolution turned to look – where is the beam coming from? 

The signal came from an object in the form of a torus, inside which a sphere about 1000 feet in diameter was suspended. The sphere was of a substance resembling metal, glowing with a purple light with a green tint, and rotating clockwise. In this case, the torus rotated in the opposite direction. It also looked like the sphere had been damaged by some kind of internal explosion. Nobody had any idea what it was, and it was thought that this was the work of the proto-civilization of the Earth, which was trying to colonize Jupiter. The version of the object’s alien origin was also considered. 

When people read it in October, everyone laughed merrily. However, when NASA revealed the discovery of something on Ganymede, everyone suddenly realized that the message seemed to be pure truth and therefore now, in order to hush up the information, NASA urgently released its legend of what was happening. 

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Conspiracy Theories

Peruvian court names Gates, Soros and Rockefeller as “creators” of the COVID-19 pandemic

Peruvian court names Gates, Soros and Rockefeller as "creators" of the COVID-19 pandemic 98

Peruvian judges said the coronavirus pandemic was organized by “authors of a new world order”, including Microsoft founder Bill Gates, investment banker George Soros, and members of the Rockefeller family of billionaires. Such a verdict was issued when considering an appeal to extend the detention of a local resident accused of rape.

Judges Tito Gallegos, Luis Legia and Tony Changaray were the authors of the controversial ruling. They explained that the coronavirus pandemic turned out to be force majeure, since no one, except for the “organizers” of the pandemic named by them, could predict its consequences.

“The criminal process was paralyzed due to the COVID-19 pandemic created by the criminal elites, which paralyzed activities in almost all countries … No world government, individuals and legal entities, nor the defense of the accused can claim that this pandemic can be called ‘predictable’, except for the creators of the new world order, such as Bill Gate, Soros, Rockefeller, etc., who ruled it. They continue to manage it in conditions of extreme secrecy and in global corporations with an eye on the 2030 project,” the Pasión por el Derecho edition quotes the text of the resolution.

Representatives of the department, which is responsible for overseeing the work of judges in Peru, have already announced that a review has begun against the authors of the ruling. The RPP publication indicates that it will be clear from its results whether a colleague committed a violation.

In early 2020, against the backdrop of a pandemic, conspiracy theories related to the spread of COVID-19 spread online. According to one version, some world forces (among which Bill Gates, the CIA and the Chinese authorities were mentioned ) specially brought the coronavirus into the laboratory and spread it to put the inhabitants of the planet at home, irradiate them with 5G, and then microchip them. 

Gates himself later stated that such theories were “difficult to deny” because they are “too ridiculous.” 

Meanwhile, the World Health Organization (WHO) believes that the virus was not created artificially – the organization is of the opinion that the infection was transmitted to humans from bats.

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Conspiracy Theories

US “on the edge”: Seven facts showing what is brewing to happen in the US?

US "on the edge": Seven facts showing what is brewing to happen in the US? 99
Photo: Fallout 4, Bethesda Game Studios

The United States is in danger of going to extremes, which after the January 6 events, no one knows what is happening in the country and the uncertainty seems to peak in the next few hours.

There are facts which could show that we are heading for the most dramatic hours the world has experienced since the August 1991 coup in Russia when the communists attempted to return to power and take control of the nuclear arsenal.

First, after an incomprehensible and unexpected blackout in Pakistan, a blackout happened in the Vatican.

A few hours before the blackout in Pakistan, the frequency of power grids in Europe dropped sharply,   and only renowned German engineers and no less famous German quality of equipment saved Europe from plunging into darkness, as it happened a little later in Pakistan:

Are there plans for some kind of Pentagon intervention, as Washington now resembles Moscow in August 1991?:

Second, US President N. Trump is ready to activate the Emergency Alarm system that bypasses all conventional media (television, internet, radio, etc.) to send a message to US citizens!

In response, of course, to the decision of the dominant online media, from Google to Fb, Amazon, Tweet, Twitch to ban Trump from communicating with US citizens, even through Parler, the medium used by tens of millions of right-wing Americans to communicate.

The Emergency Alarm System (EAS) is a national alert system in the United States that came into force on January 1, 1997 and is coordinated jointly by the Federal Emergency Management Agency (FEMA), the Federal Communications Commission (FCC) and the National and Atmospheric Administration (NOAA). 

US "on the edge": Seven facts showing what is brewing to happen in the US? 100

The system is designed primarily to allow the president to address the country by intervening in the programming of all radio and television stations in the event of a national emergency.

The Integrated Public Alert and Warning System (IPAWS) is used as a backend for the dissemination of warning information via EAS and related technologies, such as Wireless Alerts Alerts (WEA), using Common Alerting Protocol (CAP). EAS messages are mainly transmitted via terrestrial and satellite radio and television (including broadcast and multichannel television), which must be part of the system. 

Millions of SMS have been sent in the last hours with the following update:

US "on the edge": Seven facts showing what is brewing to happen in the US? 101

Third, the US military has been embroiled in an unprecedented political conflict. According to the New York Times, Democratic House Speaker Nancy Pelosi asked Chief of Staff General Marley Miley to restrict the president’s access to the nuclear arsenal, but he refused, as it would be a purely military coup.

The representative of the American Military leadership, David Butler confirmed that “the phone call was made and there was information about the nuclear control procedures”.

To add that 70% of the military support Trump, but one can not imagine the involvement of the US armed forces in the internal political conflict, even if it has gone beyond what could be assumed as “within reason.”

Fourth, the airspace above Washington was recently closed. Theoretically, it closed because an air traffic controller fell ill with coronavirus. Information was then leaked about “a possible terrorist attack by Iran in retaliation for Suleimani’s assassination.”

How likely is that? Then there were rumors that it was closed because N. Trump moved out of the White House accompanied by USAF fighters.

That is, for the movement of the aircraft of the presidency “Air Force 1” but it does not cease as a fact to be unprecedented.

The official excuse is that they disinfect the Air Traffic Control Room for flights over 18,000 feet because of a controller who tested positive for the virus.

See the picture of air traffic on the east coast of the USA, now:

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Fifth, the arrival of the National Guard in Washington in large numbers:

Military helicopters observed over many US cities. There are many helicopters, they fly at unusually low altitudes and, if the helicopters are attack helicopters, people can consider full suspension systems with weapons:

Sixth, the Federal Emergency Management Agency (FEMA) has released an UPDATE of the nuclear attack guidelines it gives to all Americans through the website. Among the items added by FEMA are the following:

On your way to work, find suitable hiding places to look for in the event of an explosion. Due to COVID-19, many of the places you may walk to and from work may be closed or may not work during normal hours. 

Such things were brought to the attention of the Americans for the last time fifty years ago, at the very peak of the Cold War, and the fact that this is now remembered again is very surprising to everyone. 

Seventh,since Sunday, January 10, the Boeing E-4B is constantly in the air – one of the so-called “doomsday aircraft”, that is, an air command post:

US "on the edge": Seven facts showing what is brewing to happen in the US? 103

In normal times, any of these messages taken separately would have caused a serious panic among American conspiracy theorists, since, apart from periodic flights of “doomsday planes,” nothing of the above has ever happened. And now it turns out, as it were, seven inexplicable sensational news in 24 hours.

This allows one to think that in the United States either some not very good things are being prepared, or these things are in full swing. That is, we can talk either about some grandiose false flag or even a possible world war.

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