Audit of the Federal Reserve Reveals $16 Trillion in Secret

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PostSat Jul 23, 2011 2:58 pm » by TheDuck


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Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

“This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.” – Bernie Sanders(I-VT)

When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses can be stopped with five dollars worth of bullets.

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)

and many many more including banks in Belgium of all places

http://www.unelected.org/audit-of-the-f ... t-bailouts
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PostSat Jul 23, 2011 3:29 pm » by Mediasorcerer


another name is blackmail,get with the police state world basically,heres the money,now we own you,all at tax payers expense.
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PostSat Jul 23, 2011 4:05 pm » by Toxic32


Doesn't this go against your constitution some how?? Rip off the poor to support the rich. From what I remember of your constitution it was written to give the people rights and it sounded very good? More than we have in the UK. What the fuck happened? Are you all TV zombies!
I question everything. I don't believe anything I'm told or anything I see. Prove it, or fuck off. And that's not me I see in the mirror in the morning.

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PostSat Jul 23, 2011 4:13 pm » by The57ironman


toxic32 wrote:Doesn't this go against your constitution some how?? Rip off the poor to support the rich. From what I remember of your constitution it was written to give the people rights and it sounded very good? More than we have in the UK. What the fuck happened? Are you all TV zombies!

yes....''ewe'' are zombies....
thank you ed bernays et al...
....."kill your TV" goes back 30 years or more...
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....remember....the authorities are working hard to keep you feeling helpless...

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PostSat Jul 23, 2011 4:16 pm » by Aragajag


This may be the straw that broke the camels back when people over there have some time to let it spread and digest it as real. No damn wonder they didnt want to get audited. The Americans should just say screw your debt we are printing our own money from now on. Two years of hard times for adjustment maybe then a whole new future ahead.
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PostSat Jul 23, 2011 4:31 pm » by Luftuso


16 trillion EXTRA?

you realize that would mean the USA is in debt over 30 trillion?

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PostSat Jul 23, 2011 8:24 pm » by Woven


Its at least progress toward some understanding of what has happened to the financial system, my only qualm is that the system is so abstracted assigning blame and enforcing whatever the appropriate action may be that we cannot really institute change only shift the pieces.

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PostSat Jul 23, 2011 8:36 pm » by Newdawnrising


luftuso wrote:16 trillion EXTRA?

you realize that would mean the USA is in debt over 30 trillion?


No, that means the few greedy filth are in dept for 16 Trillion. Every single one of these big banks are behind the sudden disappearances of trillions of dollars, which has been happening for god knows how long. For example the Sept 08 777.67 Dow plunge, went straight into the pockets of the aforementioned filth, over 3 Trillion disappeared in seconds.
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PostSat Jul 23, 2011 9:57 pm » by Unitb166er


My Man Theduck :flop:

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PostSun Jul 24, 2011 12:19 am » by Spock


I guess the Fed figured they would give the money out at no interest while the other banks lent the money for rates. Call me cynical, but I'm sure that somehow the Fed figured they could pass on the "loses" to the American taxpayer.

If the $16 Trillion had been put in the pockets and infrastructure of America, there would be no "recession".

More than anything, this proves that the bankers truly do consider us the herd.

Damn, I wish I were a banker.


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