Fed Reserve Releases Highly Censored Minutes From 2007 Pre-crisis Meeting

We know that the jerks who run our banking system are the dumbest people on earth.  The Federal Reserve which works for Wall Street has been notoriously secretive.  Bernanke promised to be less secretive but that was, as per usual, a total lie. He is very secretive.  And so he was sued to release information which he pretended to do today:  Bernanke missed signs of crisis – NY Daily News

“The odds are that the market will stabilize,” Fed Chairman Ben Bernanke told the committee in August 2007, according to the transcripts, which are released each year with a five-year lag.


William Poole, president of the Federal Reserve Bank of St. Louis, echoed his sentiments at the meeting, saying, “My own bet is that the financial market upset is not going to change fundamentally what’s going on in the real economy.”


And here is the minutes of that meeting which has so much information:

Fed Reserve meeting of August 2007 heavily censored

HAHAHA.  They even were joking about things which are censored, I wonder what they found so funny?  It was a discussion about how to choose who would run the operations, no?  Probably mentions things we discuss about the Bilderberg gang and other operations.  Anyways, it is so ‘sensitive’ we can’t see what they said because it would get us very pissed off, I am guessing.  Oh, and there is no conspiracy here, is there?  Har.


As for being clueless, there is no excuse.  Here is my summation of the news back in October, 2007:  Money Matters: More Wizards Of Finance Fall Off Cliff


And my correct analysis from August of that year when the clueless Federal Reserve geniuses were denying reality:  Money Matters: Bush’s Speech Is Meaningless But Hu’s Speech Is Scary


And then this, what I wrote in the wake of the Fed Reserve meeting:  Money Matters: What Lola Wants, Lola Gets…No More


This is so very much like the period right before the Great Depression. The big bankers, seeing nothing but losses in the future, cut and run. Countrywide sold off most of its stock right when the inside data showed there was no hope of any future at all in offering high-interest loans packaged with ‘teaser’ rates at the front. The mounting bankruptcies were obvious at the end of September, 2006, a year ago!


We know from history that if interest rates rise, housing collapses and recessions always follow interest rate rises. This time around, it was totally insane: after Bush took office, his buddy, Greenspan, dropped interest rates EVEN AS Bush cut taxes which everyone sane knew would drive our government back into deficits with a vengence. Greenspan should have raised rates in response to this irresponsible tax cutting but he did the opposite.


The liquidity crisis and the lending crisis are not due to technology nor is it caused by a shortage of money. It is due 100% to the inability of the West to take on much more debt because we are now at the point, we can’t pay for even the interest rates, forget the principal! Indeed: many loans the West holds have to be ‘turned over’ when they expire due to no one paying off the principal and this mountain of debts has grown tremendously and the earlier foothills are being ‘reset’ and the West wants this at cheap interest rates and the West wants ASIA to do this…at cheap rates. But China has closed its window! And Japan can’t afford to do this for everyone, 100%. So we have a banking crisis from hell. And the fake cheer from idiots like Mr. Karlgaard looks stupid in light of all this.


The Federal Reserve was engineered by JP Morgan himself and his buddies very secretively and it is secretly run and the participants belong to more than one secret organization all of whom pretend there are no secrets, no societies run by themselves in total secrecy and no collusion from rich owners of media here to hide all of this from us.


Meanwhile, the financial system lies in ruins.  The US has the lowest sovereign wealth ranking in the entire planet earth and these same jerks want us to go to war with not only most of the Middle East and much of Africa but also Russia and China, too.  These people are dangerous, as dangerous as deranged killers with NRA-endorsed firearms running wild in our neighborhoods.  Only they have nuclear bombs to terrorize us with as well as assassin drones.


And we merrily sail into rough seas with no captains, only pirates at the helm of the USS Democracy.  And yes, I did vote in the last election and voted for people who are dangerous because the opposing party is insanely dangerous to me, some great choices there!  Nope.


End the secrecy!  Stop the magical banking bosses and replace them with people who can accurately predict future events.  sunset borger

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Filed under .money matters

14 responses to “Fed Reserve Releases Highly Censored Minutes From 2007 Pre-crisis Meeting

  1. They picked a name that fools your average citizen into thinking that they are a branch of the govt,not a consortium of private banks.What a scam!

  2. Being There

    The scam of making something sound Federal is not accident and It’s no accident that I call this enterprise “Murder Inc.” after Meyer Lansky’s syndicate with organized crime. They knocked people off for the mob.

    Now not only are people around the world fodder for these mooks, but so are we all thanks to the minds of Milton Friedman of Disaster Capitalism and Ayn Rand.

    These people who run the show aren’t stupid but would rather be seen as such so you don’t see the deliberate choices they make to bury us.

    They are financial terrorists. They just don’t want people accusing them as such. If these are terrorists, can we water-board them?

  3. bunnyswanson

    These people are winning the war. USA is under attack from within. Are you prepared for the outcome of losing this war, Americans? Do you understand these people do not care about you? And that means almost certain misery and despair. There must a gun to the heads of politicians because I cannot think of any other way this would be allowed to happen

  4. melponeme_k


    Look to your own countries now. These people aren’t only undermining the USA.

    The derivatives beast is dragging them down and they are now feeding whole countries to it. The USA isn’t enough. Tragic isn’t it?

    They need Germany badly now. It is the only country after the US dies that is solvent and a part of their web.

  5. emsnews

    They do NOT want to destroy the US. They are tempted to do very stupid things and when this proves destructive, they remain aghast and amazed like DRUNK DRIVERS.

    Yes, they are drunkards. They refuse to see the natural outcome of actions because they want paradise of fools. They imagine, all the tricks and scams will work out in the end and when this fails, they claim they had no idea.

    This is easy for them to do because many people want fantasy worlds, not reality which is why discussions about ‘money’ end up so childish these days. Far more childish than in the late 19th century before JP Morgan did his end run around currency reformers.

  6. bunnyswanson

    They want to destroy the currency, let the people in the US face the consequences of it on a global arena (1,000.00 for a 6-pack of socks) until they beg for a resolution – at which time, the federal reserve (working for the global banking cartel) issues a new currency which will be globally recognized and there you have it “control the money, control the people.” They’ve been working on this for a century.

    Instability in the financial market, costing hundreds of billions of dollars and ruining tens of millions of lives, is directly related to the central bank’s policy, all related to the revoked Glass-Steagall act which took them 20 years of prodding (and bribes) to manage to accomplish.

  7. Elaine, thanks for another insightful and timely article.

    You wrote, in your August 2008, What Lola Wants, Lola Gets … No More, The liquidity crisis and the lending crisis are not due to technology nor is it caused by a shortage of money. It is due 100% to the inability of the West to take on much more debt because we are now at the point.

    And you currently write,Fed Reserve Releases Highly Censored Minutes From 2007 Pre-crisis Meeting, The Federal Reserve was engineered by JP Morgan himself and his buddies very secretively and it is secretly run and the participants belong to more than one secret organization all of whom pretend there are no secrets, no societies run by themselves in total secrecy and no collusion from rich owners of media here to hide all of this from us. End the secrecy! Stop the magical banking bosses and replace them with people who can accurately predict future events.

    I comment Deja Vu, once again, the world cannot take on any more debt, as humanity passed through Peak Credit on December 6, 2012, when Total Bonds, BND, turned lower in value. Now investors will be deleveraging out of
    1) Currency Carry Trade Darlings, EFA, seen in this Finviz Screener … http://tinyurl.com/a8cw3b7

    2) Global Producers, FXR, seen in this Finviz Screener … http://tinyurl.com/b6y6qr6
    ARMH, MAT, HAL, XOM, NOK, QCOM, MSI, FMX, IP, REGN, BHP, AA, SCCO, ABB, SAP, TEL, ITW, PHG, IR, ROP, FLS, EMC, DE, ITB, CAT, BA, ERIC, WHR, EXP, LYB, ARG, DIS, MKTAY, WOR, LPL, HNP, TSM, TTM, PPG, KUB, MHK, SYT, CELG, FBR, ASML, PFE, FWLT, E, MON, FXR, … Of note, Neowin reports Nokia slashes another 1000 jobs in Finland

    3) Liberalisms’ Beloved Investment Sectors, in this Finviz Screener … http://tinyurl.com/az4gxfk

    4) the Speculative Bankers which underwrote Liberalism’s Final Risk Rally, seen in this Finviz Screener … http://tinyurl.com/ap8uk9d
    BAC, C, BCS, LYG, RBS, SAN, DB, IBN, HDB, NMR, MTU, UBS, WF, CS, GGAL, BFR, BMA, BPOP, IRE, CHIX, SMFG, MFG, BSMX, NBG, JPM … Of note The Telegraph reports Lloyds and RBS need billions more capital, BoE says. Britain’s bailed-out banks need billions of pounds more capital to shore up their balance sheets and support the economy, senior Bank of England officials have warned.

    With the deleveraging, Great Depression II will commence. Perhaps one might enjoy a reading in my blog EconomicReview Journal, where I present that bible prophecy of Daniel 2:25-45, and Revelation 13 is unfolding, with a result that a Ten Toed Kingdom of Regional Governance, as well as a Beast Regime of Totalitarian Collectivism and Regionalism, is rising out of the financial and banking insolvency of the Mediterranean nation states, specifically the PIGS, Portugal, Italy, Greece and Spain.

    Perhaps, the week beginning Monday, January 20, 2013, will be the beginning of The Second Great Depression, as Mike Mish Shedlock writes Massive fraud in Spain threatens entire government of Prime Minister Rajoy. Eventually the lid off the pressure cooker in Spain is going to blow sky-high. Whether or not this story is the spark remains to be seen.

    One should consider dollar cost averaging into a physical possession of gold, that is in gold bullion, as well as an investment in trading at BullionVault as the Telegraph reports A new Gold Standard is being born. The chart of the gold ETF, GLD, shows that it is entering into a consolidation triangle, from which it will break out higher very soon.

    Perhaps, one might enjoy my current article … The Debt Doom Loop Closes In On Europe … A Financial Apocalypse Is Coming Soon … is … http://tinyurl.com/a3xs7ob

  8. Being There

    @ theyenguy

    Take a look at Max Keiser from yesterday. The currency war. Those with the most gold wins the currency war. Germany wants to repatriate it’s gold from the US (Fed of all places) 20% and 100% from France by 2020.

    The gold most likely has already been sold. hmm There will be a mass buying sending the prices way up. (Bond crash)

    Elaine, I can’t believe that these people are just plain stupid and greedy. If we can see the consequences, so can they. It’s a system they can’t escape, but it was done deliberately and they can see the effects. Other than the fact that they don’t give a rat’s ass about other people, they also have to know what they’re doing.

    I always recommend people read Naomi Klein’s Shock Doctrine, because only then do people understand its a ideology developed by Milton Friedman based on the Austrian School and the Chicago School of Business. The first use of the ideology was the MF guiding the privatization of Chile’s economy through the Nixon White administration.

    It’s a horror story and it’s never worked anywhere it’s been instituted, but has caused many little depressions and misery around the world. It is in it’s late stage. It is a financial war against the middle class.

  9. DeVaul

    @ theyenguy

    You’ve got to admire, or be amazed at, a person who can start off talking about highly technical economic data and then transition to stuff scribbled down on papyrus leaves hidden in caves thousands of years ago so smoothly you’d think you were riding in a Rolls Royce with a two tired suspension system installed up front. Just…un…believable.

    I wish theyenguy was on the Federal Reserve Board. That way we would not have to wonder what all the stuff was that was redacted, snipped, or drowned in coffee without creamer. We could just go dig it up in some cave in the middle east if we really needed to know.

    @ Elaine

    Elaine, as far as I know, is the only person who saw the currency battle between Japan and China back in July of 2007 and wrote about it. No other economic expert, guru, or goldbug saw it or commented on it that I have ever read of while it was actually happening. No other person can list several (not one, but a series) of articles detailing the significance of this event and how it led to the collapse of the Japanese Carry Trade.

    It is just amazing that a woman who spends her time plowing snow, chopping wood, and caring for a brain damaged husband can come in, sit down, and see the obvious on her computer screen while hundreds of thousands of economic clowns cannot see even the obvious, although many will claim they did, but cannot show proof that they wrote about it back in the fall of 2007. I remember it all because Elaine wrote about it.

    By the fall of 2008, so many sociopaths had been burned by the end of the Japanese Carry Trade that the Derivatives Beast was making margin calls on everyone and their mother. Elaine connected the dots so carefully and thoroughly that anyone reading this blog for the last 7-8 years would know exactly what happened and how it happened.

    I wonder if “money” will be the one experiment that humans engaged in that will end our species. It would be sad if it did, since “money” is an abstract concept totally unnecessary to our survival.

  10. We’re pretty much at peak everything if you look at the graphs. Peak oil(the good stuff) peak minerals(South African mines that are a mile below the surface),Peak coal(I can still remember the left over coal in my Grandmother’s shed,beautiful hard shiny blocks,the good stuff,reserved for steel production these days but back then burned in homes.
    Peak farmland,water,fertilizers,the list goes on.
    The exponential curves cannot continue .
    The one showing USA debt is particularly riveting,flat til 1970,now on a vertical climb to infinity.
    Maybe the printers at the Fed watched Toy Story,and believe in Buzz Lightyear’s motto “To Infinity and Beyond!”

  11. Christian W

    How much real, tangible gold is there in the world?

    About the size of a smallish office building.


    That’s not much to drive the world economy is it? And the Germans demanding to bring home their gold from overseas probably know full well it’s all gone or been fiddled with.

  12. emsnews

    Gold isn’t the only metal. We have many metals. And uranium!

    The value of anything is ultimately based on two things: land and labor. This is due to both being productive thanks to the Neolithic Farming Revolution.

    All other things represent trade wealth connected to Land and Labor. Gold is worthless if there is no one to do the work and no food to eat. You die.

  13. Pingback: The Debt Doom Loop Closes In On Europe … A Financial Apocalypse Is Coming Soon « EconomicReview Journal

  14. Lucky13

    Ping, how soon?

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