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

[Dr. Love]

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


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 right), 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 will eventually plunder the world economy.

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

View the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

Source: http://www.gao.gov/products/GAO-11-696
FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf
Senator Sander’s Article: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

http://www.silverbearcafe.com/private/10.11/gaoaudit.html

[FORD]

I wouldn't trust Jim DeMented to tell me the correct time of day, but at least Ron Paul is sincere on this issue, so 3 out of 4 ain't bad, I guess.

[FORD]

Moses is a fan of Alex Jones?

Who the fuck would have guessed.....

[VAiN]

Wow, ain't that some shit? So, what do we do now? Will there be any action to get any of that $16 trillion back?

[Nitro Express]

The Federal Reserve is a private bank and nobody knows for sure who even sits on the board or who the stockholders are. Since computers have become common place technology it makes it easier for the Fed to play all sorts of secret games.

Now put yourself in the place of a Federal Reserve owner. You own part of an organization that controls the money supply of the United States and influences most of the world economy. The organization is rarely audited because it has enough money and influence to buy off most the politicians. Only that pesky Ron Paul seems to be the one to worry about. Most the American public and most the politicians for that matter are too dumb to understand the problem. All they know is if they have money they can trade it for goods and services. Their ignorance is what actually gives the money value. As long as enough suckers are willing to accept it, it's worth something.

Now you have a computer that all you have to do is type in any figure and it becomes money. Think about it. You don't have to worry about the stupid politicians or the government and you can make money. Don't you think you would secretly wire money to various accounts around the world under the table? Just as long as you keep it under tabs you could have a whole underground economy going. Then of course you have the public bond auctions and issue the above table money that way. You influence the prime rate that way and thus you influence the overall economy allowing you to pump and dump markets to buy up real assets cheap.

I mean the people who sit on these banking boards know the money is worthless. They can make all they want. What they want is control over the population and real assets. They can inflate or deflate the currency at will to determine what the future is going to be and then set themselves up to exploit that. This is what they are currently doing.

Think about how hard you work for your money only to realize someone can just type what you worked hard for in a computer and make money with no work involved. Then they can inflate the value of the money you worked for away. So basically the Federal Reserve is robbing everyone else who works for a living. Once they ruin everyone and drive prices down, they come in and buy it up cheap. Then instead of computer code they own real assets. That's the scam.