FBI arrests Jihadist Wannabee for Trying to Blow Up a Federal Reserve Bank in NYC

Another member of the "Religion of Peace" tries to kill us....


Via Fox News:

Federal authorities arrested a Bangladeshi national Wednesday morning for allegedly plotting to blow up a Federal Reserve Bank in New York City’s lower Manhattan, mere blocks away from the site of the terrorist attack of Sept. 11, 2001. The bank is one of 12 branches around the country.

The 21-year-old suspect, Quazi Mohammad Rezwanul Ahsan Nafis, attempted to detonate what he thought was a 1,000-pound bomb in front of the Fed building on Liberty Street, but the device was a fake supplied to him by undercover FBI agents who had been tracking his activity, the FBI’s Joint Terrorism Task Force said Wednesday afternoon.

The supposed explosives posed no threat to the public, the FBI said.

A criminal complaint accuses Nafis of having overseas connections to Al Qaeda and travelling to the U.S. in January to recruit individuals to form a terrorist cell and conduct an attack on American soil. He came under the guise of going to school in Missouri on a student visa. One of Nafis’ potential recruits was an FBI source, who alerted authorities, the FBI said.

A federal law enforcement official told Fox News that there was no evidence Nafis was directed by Al Qaeda to carry out this attack, though he appears to have thought he was working for the terrorist group.

Bernanke: Fed pumping 'good for Obama's re-election global economy'...

If Ben Bernanke had been completely honest, he would have sad Obama's re-election.

Via FT:

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Ben Bernanke has launched a staunch defence of the US central bank’s aggressive monetary easing amid attacks on the policy from officials around the world.

The head of the Federal Reserve rounded on critics of the policy, which has prompted accusations that he has sparked a global “currency war” that risks destabilising emerging market economies.

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The Fed’s effort “not only helps strengthen the US economic recovery, but by boosting US spending and growth it has the effect of helping support the global economy as well”, Mr Bernanke said on the last day of International Monetary Fund annual meetings in Tokyo on Sunday. 

Chart of the Day: Federal Reserve Downgrades Economic Projections

Bad news for Team Re-elect Obama...

Fed Passed out Tens of Billions of Dollars to Foreign Banks

The Federal Reserve has put American taxpayers on the hook for tens of billions in loans to foreign banks. You should be outraged.

The biggest borrowers from the 97-year-old discount window as the program reached its crisis-era peak were foreign banks, accounting for at least 70 percent of the $110.7 billion borrowed during the week in October 2008 when use of the program surged to a record. The disclosures may stoke a reexamination of the risks posed to U.S. taxpayers by the central bank’s role in global financial markets.

Oh, and they fought to keep this information secret.

Ron Paul to Head Federal Reserve Oversight Panel

Expect fireworks in 2011 and 2012. Lots of fireworks.

(The Street) — Ron Paul, the controversial Republican House representative from Texas, will take control of the subcommittee that oversees the Federal Reserve.

House Financial Services chairman-elect Spencer Bachus’ (R.-AL) announced Paul’s appointment on Thursday, along with the rest his choices for leadership team. Bachus was appointed chairman of the panel on Wednesday.

Paul, who has introduced legislation to abolish the Fed, will specifically head up the Subcommittee on Domestic Monetary Policy.

Fed Throws in Towel on U.S. Economy

Well, The Federal Reserve Board (Fed) is throwing in the towel on the U.S. economy for at least the next five or six years. That is how long the Fed now believes it will be before the economy returns to it's "longer-run path."

The Telegraph reported:

"The Committee would need to consider whether further policy stimulus might become appropriate if the outlook were to worsen appreciably," it said. The economy might not regain its "longer-run path" until 2016.

"The Fed is throwing in the towel," said Gabriel Stein, of Lombard Street Research. "They are preparing to start QE again. This was predictable because the M3 broad money supply has been contracting for months."

The Fed minutes amount to a policy thunderbolt, evidence of how quickly the recovery has lost steam. Just weeks ago the Fed was mapping out withdrawal of stimulus.

Federal Reserve: Unemployment May Be 7.5% at End of 2012

This is very bad political news for President Obama and the Democratic Party. They will fully own those numbers.

From The Washington Post:

The unemployment rate will remain elevated for years to come, according to a forecast released Tuesday by the Federal Reserve that addresses for the first time economic conditions at the time of the next presidential election.

It paints a grim picture. Top Fed officials expect the unemployment rate to remain in the 6.8 to 7.5 percent range at the end of 2012 and said it could take “about five or six years” from now for economic activity to return to normal. The jobless rate was 10.2 percent in October. …

Ever wonder where Obama is getting the trillions he is spending?(video)

The Federal Reserve Banking system is creating the money for him "out of thin air." This 5 minute video is a great primer for beginning to understand how the banking system works. The more you know about our banking system, the more the whole thing seems like a scam. This video is very interesting and well worth your time.

Money - How it gets created out of thin air(video)


Hat tip to stevesimon.us/blog/