Obama’s Secret ‘Green’ Bank Exposed
The Secret Government Bank That’s Financing More Solyndras … Sitting at the center of the Solyndra scandal is an off-balance-sheet bank at the Treasury Department that dates back to 1973. This little-known government bank, the Federal Financing Bank [FFB], had a zero balance in 2008 for green energy projects, but now, with little Congressional oversight, it is giving out billions of dollars in loans to White House pet projects often at dirt-cheap interest rates below 1%. – Fox
Dominant Social Theme: Money is really necessary to save the world in so many ways.
Free-Market Analysis: It is not enough that the US Federal government is in cahoots with other countries to foist phony global warming policies on its long-suffering citizens. It has also set aside (according to Fox, see above) some $61 billion in assets in a secret government bank.
This is surely a dominant theme of sorts. The government declares that “green” companies are in good odor with Americans and then ensures that they are created with a bank of its own. Talk about a self-fulfilling prophecy.
Of course, this is part of a larger power elite script. The Anglosphere elites who want to take over the world use various fear-based promotions to frighten Western middle classes into giving up power and wealth to international facilities such as the UN, IMF, World Bank, etc. This strengthens global control and brings closer a one-world order.
A central theme of the elites is that carbon dioxide is making the world uninhabitable for human beings. Although manmade carbon dioxide makes up only a few percent of the larger atmosphere-clogging water vapor that forms over the earth, those who promote this sort of propaganda claim that it is the manmade stuff that puts the climate change over the top.
It’s nonsense, of course. Weather forecasters have trouble predicting weather two days out or even for the coming season, much less making predictions about the interactions between weather and earth decades hence. But it is necessary to promote the farce if one wants to justify continued control of culture and consumerist society.
Global warming can be used to justify so many things: Smart meters, carbon trading, Green industry. This last is very important to the elites because they eventually want to substitute ill-performing and expensive technology for relatively cheap and efficient oil and gas.
This bank, authorized by Congress in one form or another, according to Fox, “lent nearly three quarters of a billion dollars in taxpayer funds with no Congressional checks and balances.” Here’s some more from the article:
Plus the bank is funding the insolvent U.S. Post Office; the White House’s expensive green car projects at Ford Motor, Nissan and Tesla Motors; a $485 million loan to an expensive solar project that’s lost $160 million over the last three years that’s backed by Google, BP and Chevron; plus the FFB is funding the teetering HOPE housing bailout program, which gives delinquent mortgage borrowers breaks on their loans.
And according to KPMG’s audit report of the bank, the FFB is losing billions of dollars in taxpayer money because it is forgoing collecting interest costs on already inexpensive loans that are financing projects at agencies like the Agriculture Dept.
What’s scary for taxpayers is this: The FFB can borrow unlimited amounts of taxpayer money from the Treasury for these kinds of political pet projects. Under the 1973 “FFB Act, the bank may, with the approval of the Secretary, borrow without limit from the Treasury,” says the bank’s audited statements from KPMG.
So what’s being done about this “suddenly discovered” FFB? The article tells us that the Treasury Department’s inspector general is now investigating the bank over its $528 million loan to Solyndra. In fact, we learn that Solyndra was still getting loans from the FFB right until bankruptcy.
And then there is this: “In the month of July alone, the FFB gave a $12.5 million loan to Abound Solar; 60% of Abound’s balance sheet will come from federal taxpayers, or $400 million in guaranteed federal loans … FFB also gave a $117,330 loan to the struggling Kahuku Wind Power and more than $77 million to the Solar Partners companies, which are due $485 million in White House approved loans.”
On and on. The bank gives out loans to US manufacturers to encourage green technology of every sort, including green cars. Ford alone, we learn, received some $160 million. Fisker Automotive, Nissan North America and Tesla Motors have received a total of $528.6 million (including hundreds of billions of “loans”) at rates as low as 0.8% per quarter.
At this point, given the extensive involvement that the government has with the private sector, one begins to be reminded of the Soviet Union. First bureaucrats identify a promotional story line and then they fund it. This isn’t much different than those five-year plans that USSR’s politburo used to issue.
This exposure of some of the secret projects the Obama administration is funding takes place just as another batch of climate-related emails were released via “read me” file now circulating among “climate skeptics.”
The emails have been labeled as “pathetic” because they do not seem to provide more news about the ways in which warm-ist scientists have acted together to foist this meme on unsuspecting people. In fact, there is probably little to add.
A small clique of scientists working directly or indirectly for the powers-that-be have taken it upon themselves to advance this idiocy to enhance elite control over everybody’s lives. These individuals operated in a kind of criminal clique, it seems to us. Cabals are not all-inclusive. They tend to be run by the same people, year-to-year. Here are some other articles we’ve written on the issue:
Climategate – Worst Scientific Scandal Ever?
How clear does it need to be, dear reader? A small, mafia-like clique that controls central banks and has unlimited money to spend is trying to maintain and expand control over the world. They operate via a series of conspiracies and they are abetted by associates and enablers such as those scientists who promote the fallacies of “climate change” and “global warming.”
As it is not enough to promote memes, this clique develops sixty billion-dollar slush funds via its bureaucrat associates. They dole out the money using ideological parameters. That’s all FFB really is. You can call it a bank, but it is a private, hidden-away pool of money that Obama could give out to certain “chosen ones.”
Conclusion: The idea was to create an industry of “green companies” that would fit with the larger meme about energy scarcity, peak oil and global warming. The promotion was to be that people were “doing something” about these horrible trends. The propaganda was to come via the mainstream media that would use these faux companies as examples of green enlightenment and perhaps as fodder for Obama’s election campaign. There is nothing much enlightening about them, however: They are a false dawn.
Read More: http://www.thedailybell.com/3283/Obamas-Secret-Green-Bank-Exposed
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