Sunday, July 25, 2010

Obama's Illegal Alien Financial Bonanza

Last week, the US Senate approved the most far-reaching expansion of Wall Street regulations and the financial industry since the Great Depression. Part of that expansion of government power is President Barack Obama naming three nominees to the board of the Federal Reserve

Bank as it prepares to handle its vastly expanded duties “to ensure financial stability and oversee financial institutions.“

“To the left of even EU socialists, when it comes to deciding whether to keep careening towards insolvency or begin belt-tightening, Barack Obama seems stuck on stupid. Notwithstanding all of his rhetoric about the failures of the past, his economic vision is modeled after that of Franklin Delano Roosevelt,“ said columnist Jayme Evans in Canada Free Press.

At the same time, the Federal Reserve Bank continues to devise programs that will extend banking services to illegal aliens, and most of this money transfer scheme was created under the radar with few - if any - political figures discussing the subject.

One such program being utilized by illegal aliens from Mexico is a remittance program with the ultimate goal of bringing illegal Mexican aliens - who send money home - into the mainstream of the US financial system, regardless of immigration status. In other words, The Federal Reserve Bank is aiding lawbreakers in moving their cash around in the US and Mexico. This obviously includes the myriad alien gangs and more than 50,000 gang members who are involved in narcotics trafficking, identity theft, homicides, and other criminal activity.

“Directo a Mexico,“ the name of one such program, enables US commercial banks to make money transfers for Mexican workers through the Federal Reserve’s own automated clearinghouse, which is linked to Banco de Mexico, the Mexican central bank. Few Americans are aware of the connection between the Fed and foreign banks and this program would be just another that exists in the shadow world of international banking...

[Full Article]