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Tystick

First ever Audit of the FED, 16 TRILLION in Bailouts!

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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.jpg

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. :picard:

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 131of 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

View the 266-page GAO audit of the Federal Reserve(July 21st, 2011)

http://theintelhub.com/2012/09/02/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts/

Thank you Ron Paul! Like him now?

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Damn............should have submitted my Visa statement

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I love Ron Paul. Should be up for president right now instead of stupid Mitt Romney.

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Must be nice to screw up and have your friends in high government bail you out.

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Ron Paul's Policies Would Put Many Americans in Peonage

By Jon C. Hopwood

By Jon C. Hopwood

COMMENTARY | Ron Paul's policies would turn back the clock to the days before Franklin Roosevelt's New Deal, resulting in the destruction of the middle class as we know it. My parents grew up in the kind of society that Paul advocates. There was a small middle class of professionals and small business owners.

Farmers were considered middle class as they did not work for wages and owned their land, but many were heavily mortgaged and a good deal were poor. In the 1930s, working people were lowly paid wage slaves, lucky to have jobs.

Peonage was legal until finally outlawed in 1945 by a Supreme Court dominated by justices picked by FDR, who created the modern middle class, which was midwived by Harry Truman. The G.I. Bill provided education and home loans, and veterans were given a weekly stipend of $20 for one year. This program was called the 52/20 Club.

At a rally in Nashua, N.H., Ron Paul claimed military cut backs would lead to an economic boom, saying World War II ended the Great Depression. The troops came home and their spending power ended the depression.

It was one of the most stunning displays of ignorance I've ever heard. It was World War II that ended the Depression, when U.S. industry, under federal direction, shifted the economy to war production. When the troops returned in 1945 after war production ended, they suffered through the worst recession of the past 65 years. The 52/20 Club was created because of high unemployment.

What is particularly appalling is Paul is a Texan. FDR (with the help later of Lyndon Johnson) brought electricity to Texas, improving the quality of life. Without FDR, LBJ, the "big government" Democratic Party and the largesse of the federal government -- all the pork Texas has devoured from the federal trough, including earmarks a hypocritical Paul puts in each spending bill, knowing the bill will get passed despite his voting against it) -- Texas would be mired in poverty.

As a 76-year-old Texan born into the Depression who experienced the positive changes brought to the Lone Star State by the federal government, Paul should know better. That he does not reminds one of the observation of Prince Hal made of Falstaff: "How ill white hairs become a fool and jester."

In answer to your question OP no , i despise politicians like ron paul .

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Why was the States bailing out Swiss Banks? A personal favour to Romney or something like that?

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How do you feel about Civil Rights legislation?

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Why was the States bailing out Swiss Banks? A personal favour to Romney or something like that?

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S'alright, because the reserve has been empty for decades anyway. The spreading of fake wealth helped them maintain the facade of power, world-wide. Ie. The $16 tril is hush money.

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Also in case anyone's unaware, Obama and Romney both opposed a full audit of the Federal Reserve and both support it in full.

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Ron Paul's Policies Would Put Many Americans in Peonage

By Jon C. Hopwood

By Jon C. Hopwood

COMMENTARY | Ron Paul's policies would turn back the clock to the days before Franklin Roosevelt's New Deal, resulting in the destruction of the middle class as we know it. My parents grew up in the kind of society that Paul advocates. There was a small middle class of professionals and small business owners.

Farmers were considered middle class as they did not work for wages and owned their land, but many were heavily mortgaged and a good deal were poor. In the 1930s, working people were lowly paid wage slaves, lucky to have jobs.

Peonage was legal until finally outlawed in 1945 by a Supreme Court dominated by justices picked by FDR, who created the modern middle class, which was midwived by Harry Truman. The G.I. Bill provided education and home loans, and veterans were given a weekly stipend of $20 for one year. This program was called the 52/20 Club.

At a rally in Nashua, N.H., Ron Paul claimed military cut backs would lead to an economic boom, saying World War II ended the Great Depression. The troops came home and their spending power ended the depression.

It was one of the most stunning displays of ignorance I've ever heard. It was World War II that ended the Depression, when U.S. industry, under federal direction, shifted the economy to war production. When the troops returned in 1945 after war production ended, they suffered through the worst recession of the past 65 years. The 52/20 Club was created because of high unemployment.

What is particularly appalling is Paul is a Texan. FDR (with the help later of Lyndon Johnson) brought electricity to Texas, improving the quality of life. Without FDR, LBJ, the "big government" Democratic Party and the largesse of the federal government -- all the pork Texas has devoured from the federal trough, including earmarks a hypocritical Paul puts in each spending bill, knowing the bill will get passed despite his voting against it) -- Texas would be mired in poverty.

As a 76-year-old Texan born into the Depression who experienced the positive changes brought to the Lone Star State by the federal government, Paul should know better. That he does not reminds one of the observation of Prince Hal made of Falstaff: "How ill white hairs become a fool and jester."

In answer to your question OP no , i despise politicians like ron paul .

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Also in case anyone's unaware, Obama and Romney both opposed a full audit of the Federal Reserve and both support it in full.

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This specific statement is not accurate. The people of Texas pay more into the federal government in taxes than the state receives back in "pork".

The second statement is not accurate either. "Texas has the second largest economy in the US, which makes it the 15th largest economy in the world. In 2011, Texas had a gross state product of $1.332 trillion. Texas's household income was $48,259 in 2010, ranking 25th in the nation, below the national average, though that ranking does not factor in the state's lower-than-average cost of living" (Wikipedia). (You would be surprised at how much home and land you get for a quarter million).

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Community Block Grants are not Congressional earmarks but an actual federal government program from HUD for local and state government. "The Community Development Block Grant (CDBG) program is a flexible program that provides communities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run programs at HUD. The CDBG program provides annual grants on a formula basis to 1209 general units of local government and States."

Do you remember that in the Galveson County area Hurricane Ike did tremendous damage? I will never forget seeing streets on my Garmin, but the road and all the houses were gone. As for the city of Galveston, people have had to raise their homes above the flood levels as well as build up to the new hurricane code.

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I wish they gave me $1 trillion with no interest.

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I wish they gave me $1 trillion with no interest.

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i like ron paul myself. but the media bias and his age basically put him out of the running. unfortunetly, its gonna be a choice to pick the lesser of the two evils [obama/romney]

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i like ron paul myself. but the media bias and his age basically put him out of the running. unfortunetly, its gonna be a choice to pick the lesser of the two evils [obama/romney]

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