… and every other non-profit who placed “bets” through JP MORGAN, wagering on FED sanity.

Harvard entered into (derivative swap) agreements that locked in interest rates on $2.3 billion of bonds for future construction. At the time, the benchmark overnight interest rate set by the U.S. Federal Reserve was 2.25 percent. The agreements backfired last year after central banks slashed lending rates to zero and the value of the contracts plunged.

The swaps, which assumed that interest rates would rise, proved so toxic that the 373-year-old institution agreed to pay banks a total of almost $1 billion to terminate them. Most of the wrong-way bets were made in 2004, when Lawrence Summers led the university.

Harvard’s banks, including JPMorgan Chase & Co., were demanding cash collateral payments — ultimately totaling almost $1 billion — that Harvard in 2004 had agreed to pay if the value of the swaps fell. At least $1.8 billion of the swaps the school held were with JPMorgan.

But don’t you see, JP Morgan and other global TBTF hedge funds (masquerading as banks) collectively OWN the FED. As a primary owner of the world’s most powerful private international bank, JPM will tell Bernanke what interest rates must be, and for how long, so that their 64,252,645,000 (yes, that’s 64.3 Trillion) in interest rate BETS can wipe out non-profits, municipalities, states, corporations –any entity that signed on to the enticement to try and earn more than Bernanke’s ridiculous 2.25% interest on their holdings in 2004. Why else would the FED keep it’s books so tightly closed and hide its dealings from Congress and taxpayers?

Does anybody out there see through this assanine CON JOB? A nine-year old presented with the facts could, but TIME magazine, that flagship of Rockefellar’s trilateralist propaganda machine distorts the facts and names Bernanke man of the year (along with such past recipients as Adolf Hitler, Richard Nixon and the Ayatolla).

Let me try and make this once again perfectly clear. THE FEDERAL RESERVE AND IT”S SO CALLED “U.S.” BANK OWNERS DO NOT GIVE A DAMN ABOUT THE UNITED STATES OF AMERICA. These are not patriotic, venerable U.S. institutions, these are international arms of a GLOBAL NEW WORLD ORDER being set up in Copenhagen as we all prepare for the weekend before Christmas. Obama has staked his claim this morning as a FASCIST CLIMATE FRAUDSTER under the spell of the empire’s lust for the power of controlling the world’s emmissions, right down to the carbon you exhale with every breath you take.

I suspect that ObamaCare will somehow be passed as we wake up to the new year, and find that a bill which NO ONE HAS READ has been shepharded through the process– just as the Federal Reserve Act of 1913 was traitorously invoked by that coven of fools in the dead of night on December 23rd.

And I suspect that Obama will bribe his way to some sort of climate accord–look at all the ill-gotten winnings that the Fascist Empire is racking up with its monetarist swindles to use as bribes. They dangle billions to reach an agreement that will make them trillions.

We have responsible legislators literally shitting their pants on Capitol Hill over a 10 or 12 trillion dollar deficit, as they rightly should, but HAS ANYONE HAPPENED TO NOTICE THE TWO HUNDRED AND NINETY TRILLION DOLLARS IN INTEREST RATE DERIVATIVE BETS HELD BY THE OWNERS OF THE FEDERAL RESERVE, WHICH SETS THOSE VERY INTEREST RATES?

Do you want to know why the Fed refused to raise rates despite the destruction of our currency? Look at what it’s earning its owners in interest rate bets. Do you want to know what the FEDs benchmark rate is going to be for the next 4 years? IT WILL BE WHATEVER THOSE CONTRACTS NEED IT TO BE TO KEEP THE WINNINGS FLOWING TO THE PRIMARY DEALERS WHO OWN THE FED, and when this arrangment debases our currency and defaults the US of A, the sovereign nation that taught the world to rise up against tyranny can once and for all be taken back to colonial status under the North American Union, just as Europe has this month, under the empire of the European Union.

Bernanke, Summers, Geithner, Obama, and their FASCIST MASTERS will not stop until their global empire is complete, the North American Union is complete, and the United States is again a colony of the empire. I know it sounds insane, and it is, but history is in the making and unless we all take action, you will see this play out as all the steps leading up to it have played out, by the numbers, month after month – right out of the Bilderberg/Trilateral playbook.

As the weekend approaches and we all take a break from the lunacy, that coven of deceivers will be scheming and plotting away. For certainly by now, the Dickens classic has taught us the ideology of the money changers, as it has been expressed through health care “reform” and carbon emissions “reform” for all those 3rd world useless eaters who fail to fall into the empires web of debt:

“Are there not work houses and are there not prisons? Let them go there, and if they’d rather die, then let them die and decrease the surplus population.”

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