Mike Church on the Federal Reserve's Bailout of Libya and Obama's Illegal War

Did you know the Federal Reserve bailed out Libya for the tune of $26 billion before Obama launched his illegal war against the same Libyan government? Makes you wonder why the Obama administration wants a regime change so badly in Libya. I wonder what Qaddafi knows and if this is hush money.

Well the King Dude Mike Church weighed in on this on his Sirius Patriot radio show, and the transcript is worth the read:

MANDEVILLE, LOUISIANA - It is now made plain why the nation’s private bank in control of the economic and monetary policy, i.e. the FEDERAL RESERVE intensely fought Representative Ron Paul’s (TX) effort to audit the shadowy secretive bank. Formerly the central bank had been protected from ever being audited as a matter of law, specifically from ever having to reveal its transaction with foreign central banks and governments.

Whilst, Dr. Paul’s original amendment, which called for a full-audit including the goings-on of the FOMC, a watered down version, did find its way into the otherwise disastrous Frank-Dodd Financial Reform Act of 2010. Moreover, this is precisely the reason why the American people must urge their Congressional representations to support and co-sponsor Dr. Paul’s current efforts to fully-audit the FEDERAL RESERVE.

Thus, the biggest shock and what can only be described as perhaps the largest case of cognitive dissonance throughout history, came upon discovery that the largest recipient of taxpayer-confiscated funds was the Central Bank of Libya, to the tune of $26 Billion.

Yes, the same Libya, the Nobel-Peace-Prize-Winning–Puppet-in-Chief Barack Obama unilaterally decided to bomb and kill civilians via the implementation of the benign sounding “No Fly Zone.”

If there remained ANY questions as to what danger lies in allowing a Private Central Bank to dictate fiscal and monetary policy in direct opposition to both the teachings of many from the Founding Generation such as Jefferson, those questions should now be answered.


Begin Mike Church Show Transcript

Mike: There’s a story in Rolling Stone Online, came out about the time we were going off the air yesterday. Matt Taibbi, I don’t know how you pronounce this guy’s name, it’s either Taibbi or Taibbi, reporting here. And this was posted yesterday morning. There’s some shocking stuff here. Here, let me just read this to you: “Why Is the Fed Bailing Out Qaddafi?”

“Barack Obama recently issued an executive order imposing a wave of sanctions against Libya, not only freezing Libyan assets, but barring Americans from having business dealings with Libyan banks.” Now, did you get the first sentence? Obama’s executive order said [mimicking President Obama], “Now, I want you to be clear now. I don’t want to run a Middle Eastern country. But I will if I have to, up in here. I don’t want to run a car company, and I took over GM and Chrysler. I don’t want to run the student loan business. I took that one over, too. And I don’t want to run an oil rig, but I took over BP, too. Now, I don’t want to run Libya, but I will if I have to.”

Here’s what the Obama administration did. They went and made a case to the crooked kleptocrats at the United Nations and said that we’ve got to economically pinch Qaddafi. We’ve got to shut, why, we’ve got to shut his money off. If we shut his money off, then we can shut him off from the outside world. He can’t buy any more bombs that we sold him. He can’t buy any more planes that we sold him. He can’t buy any more guns that we were selling him. All he can do is sit there and use the ammo that he has and try to get stuff on the black market. So we’ll pinch him.

Now, it sounded good to the gullible buffoons that eat this kind of stuff for breakfast here and think that Obama actually tells the truth, or thinks that anyone in government tells the truth. And there may be some people that work in the lower levels of government that tell the truth. But for the most part the rest of them are all in on the scam. If not, then they’re not smart enough to be worthy of your trust. If they don’t know what in the hell’s going on with this monster spending $3.7 trillion per year, and only having $2 trillion worth of revenue coming in, well, then there is something wrong with them. So we go out there, and we put these sanctions on the Libyans.


Now we’re doing this, now, remember, you have DeceptiCons. You have fake, phony, fraud conservatives out there demanding that Obama do this and demanding that Obama call the Air Force out, get the no-fly zone going, get the planes over there, get the troops over there, get the navy over there, get the marines over there, get everybody over there and get them in war position. Because, remember, like George Carlin says, we like war. We like bombing people. But this has nothing to do with humanitarian aid, and Matt Taibbi has busted this story. And before you start saying, “Mike, come on, it’s Rolling Stone,” yeah, the same Rolling Stone magazine that busted the story about General Stanley McChrystal, remember that one last year, and about how McChrystal was not a fan of the Obama mission in Afghanistan, about how McChrystal had openly questioned the chain of command and ultimately had to be – he had to step down, or more specifically Obama should have made him step down? Well, this is the same guy, same story.

So Taibbi writes this: “So raise your hand if you knew that the United States has been extending billions of dollars in aid to [Muammar al] Qaddafi.” Now, remember this is the madman nutcase that the entire world was scared to death of and hated. The entire planet was worried about Qaddafi. “Why, this guy’s been a problem and a thorn in our side for 25-plus years,” Marco “Woodrow Wilson” Rubio told us last week. Remember that? “This guy’s got to be dealt with. This guy’s a threat to humanity. Why, we know all about this Qaddafi character, and he’s no good.” Well, why in the hell were we loaning him money, then?

This is one of these days and one of these things. I really, I don’t want to read this story, I really don’t. I really – who won the NCAA last night? I’d really much rather talk about that. As a matter of fact, I’m not going to finish the story. Who won the NCAA basketball championship last night? I bet it was Yukon; right?

AG: That would be right.

Mike: So Yukon, let’s talk Yukon basketball here. No, I’m kidding. I’ll get back to Qaddafi here. I just – you read this stuff, and you go, this isn’t happening, man. This isn’t happening. Again, folks, we do not have a representative form of government anymore. We have an oligarchy. We have an absolutely corrupt, empire-driven machine. It is a crime family. And those that work inside of it for the most part are members of the crime family. So listen to the rest of the story:

“And raise your hand if you knew that, just a week or so after Obama’s executive order, the U.S. Treasury Department quietly issued an order exempting this and other Libyan-owned banks to continue operating without sanction. I came across....” This is Matt Taibbi writing in Rolling Stone. “I came across the curious case of the Arab Banking Corporation, better known as ABC, while researching a story about the results of the audit of the Federal Reserve. That story, which will be coming out in Rolling Stone in two weeks, will examine in detail some of the many lunacies uncovered by Senate investigators amid the recently-released list of bailout and emergency aid recipients – a list that includes many extremely shocking names, from foreign industrial competitors to hedge funds in tax-haven nations to various Wall Street figures of note (and some of their relatives). You will want to see this amazing list when it comes out, so please make sure to check the newsstands in two weeks’ time.

“This list became public as a result of an amendment added to the Dodd-Frank financial reform bill that was sponsored by Senator Bernie Sanders of Vermont.” The only socialist in the Senate is the only one that gets anything done, it seems. “The amendment forced the Federal Reserve to open its books for the first time and make public the names of those individuals and corporations who received emergency loans.... As Bernie’s staff was going through this list, it found, among other things, some $26 billion in extremely cheap loans (as low as one quarter of one percent!)....”

Can I say that again? “Extremely cheap loans as low as one quarter of one percent.” Man, that’s a great interest rate. How did you get that? Man, wouldn’t you like to have a mortgage that was at one quarter of one percent, ladies and gentlemen? How many of you people think you got a great deal because you’re paying 5.75? Just imagine if you could have one quarter of one percent on $200,000 in home mortgage, how much you could save on housing expenses, on mortgage interest. Oh, but that’s right, I’m sorry, you’re just a stupid plebian pedestrian peasant. You’re not Muammar al-Qaddafi. You don’t have access to the Federal Reserve. You don’t have access to the discount window. You don’t have access to “Tiny Tim” Geithner’s buddies. You don’t have access to the crime family of Barney Frank and Chrissie “Hissy Fit” Dodd. No, no, no, no, you have to pay interest so that Qaddafi can get interest-free loans. Don’t you see? Unbelievable.

But wait, it gets even better. Hold on. We’re only in the first stage of the story. So they were getting loans at one quarter of one percent. And the loans were going to, out of this thing called the “discount window,” which is another part of the scam, to this company called, or this alleged banking concern called the ABC, the Arab Banking Corporation. Now, here’s where it gets really interesting. Matt Taibbi writing in Rolling Stone:

“When I first started working on this story, one of [Bernie] Sanders’s aides was careful to point out the ABC loans.” That’s the Arab Banking Corporation. “Later, I took a closer look at the company and found that it was 59 percent owned by the Central Bank of Libya, which I found very odd, even by the generally insane standards of the bailout era.” [Australian accent] “Well, they’re going to get a bailout, aren’t they?” Well, they got a bailout, all right. “Why, I wondered, would the Federal Reserve be giving Muammar Qaddafi $26 billion in near-zero interest loans? Exactly how does that address America’s financial problems?” How does that address the humanitarian crisis caused by Qaddafi? “What bailout plan could that possibly be part of?” It gets even more weird, writes Taibbi.

“Sanders’s office subsequently found out that ABC” – that’s the Arab Banking Corporation – “is not only exempt from Obama’s sanctions, it has two functioning branches here in New York City. In a letter he sent yesterday evening to Ben Bernanke, Treasury Secretary Timothy Geithner, and Office of the Comptroller of the Currency Chief John Walsh ... Sanders put it this way: ‘Why would the U.S. government allow a bank that is predominantly owned by the Central Bank of Libya – an institution on which the U.S. has imposed strict economic sanctions – to operate two banking branches within our own borders’?”

End Mike Church Show Transcript