Sunday,
January 15, 2012
Subject:
Re: Federal Reserve Audit (These people should be brought before a Grand Jury)
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 above), 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 super corporations 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
www.unelected.org
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