Federal reserve secretly gave away 16 trillion $s. Largest recipients: Citigroup, Morgan Stanley, BofA and others
Posted on | September 2, 2012 | 8 Comments
First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!
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Carmel Miller
https://beforeitsnews.com/economy/2012/09/first-audit-in-the-federal-reserves-…
10:43 AM (9 minutes ago)
https://beforeitsnews.com/economy/2012/09/first-audit-in-the-federal-reserves-…
Carmel Miller
10:43 AM (9 minutes ago)
to me
First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!
Saturday, September 1, 2012
Rep. Ron Paul (R-Tex.) wins (again) the most significant victory of his congressional career. He has taken his pet issue since the 1970s–the unwarranted power and secrecy of the Federal Reserve–from something pretty much no one but him cared about six years ago, through a bestselling book and mass movement by 2009, the second time he’s gotten the House of Representatives to vote to widen the government’s powers to audit the Fed’s activities. Huffington Post with details about the vote , and on Paul’s Democratic ally equally upset with the Fed’s lack of transparency, Rep. Dennis Kucinich (D-Ohio):
In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.
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 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 many many more including banks in Belgium of all places
View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):
Federal Reserve Chairman Ben S. Bernanke participated in a live webcast of a town hall meeting with educators on Thursday, September 30, 2010 from 2:30-3:30 p.m. EDT. During this session, Chairman Bernanke answered teachers’ questions about the Federal Reserve and the economy.
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8 Responses to “Federal reserve secretly gave away 16 trillion $s. Largest recipients: Citigroup, Morgan Stanley, BofA and others”
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September 2nd, 2012 @ 10:08 am
What has happened to our 3 Branches of Government?
I thought we had a very good System of Checks and Balances.
Is it Really Possible fot the Executive Branch to Give Away Sixteen Trillion Dollars ($16,000,000,000,000.00) with out the Okay of Congress?
September 2nd, 2012 @ 10:28 am
America, WAKE UP!
16 Trillion Dollars ($16,000,000,000,000.00)
Amout to OVER Fifty Million Dollars ($50,000,000.00) for every Man ,Women , and Child here in America.
Do you have that much to give away, i know that I don’t.
Where are we getting that money?
Are we Borrowing it from CHINA?
WOW, what a DEBT if we are!
September 2nd, 2012 @ 11:35 am
Check your math, it’s $5k per person, not $50M.
September 2nd, 2012 @ 5:44 pm
Well, you’re both wrong. Here’s the math:
16 Trillion = 16 x 10^12
US Population = 300 x 10^6 = 3 x 10^8
So it’s about 5 x 10^4, or $50K per person.
That is still a hell-of-a-lotta money to be giving away, which devalues the dollars we have and this unrestrained printing of money by the Fed will eventually lead a burst of the dollar bubble, when our debt holders start dumping the US dollar.
September 2nd, 2012 @ 8:48 pm
Are you bleeping me??
This is gonna fry Obie-wahn. Bernanke is his boy, all the way. I wonder what the finder’s fees were for the leaders of those stalwart institutions. Gee, did Obie cash in on any of it?
Original law aside, I’ll bet there’ll be a full audit Now. Maybe congress will have to borrow some of Obie’s new IRS agents.
And the timing is great. Two months before the election. You gotta laugh.
The fifty thousand number is good. 16 to the 12th divided by 300 to the 6th equals 53,333. It’s easy to make that kind of mistake. Don’t worry about it.
Of course OB is gonna hit the airwaves pronto with a Sargeant Schultz routine in addition to blaming the 16 tah-rillion on Bush.
And the news media will form the obligatory bucket brigade to put out OB’s fire along with being a burial detail to obfuscate backlash. But I don’t think this one is gonna just up and disappear.
This is amazing. And when you realize that the true national debt is above 211.0 trillion, which is the number Bloomberg reported a year ago July, it isn’t difficult to envision even China’s not being able to bail us out if we tank.
For the liberal congress and the Fed it’ll be like what Ali said to Kenny Norton at center-ring: “You in trouble now, boy.”
September 2nd, 2012 @ 10:04 pm
To Janie and Robert T,
You are both right, it’s Fifty Thousand ($50,000.00) per man, woman, and child.
I was pretty close, i only missed by forty nine million, nine hundred fifty thousand, $49,950.000.00 per each man, woman, and child.
Anyway that you look at it, can we aford it?
I still can’t.
September 2nd, 2012 @ 11:33 pm
3rdly: I’m glad that Ron Paul had this done. Look what has been happening. I think it’s time to abolish the Fed. It is illegal and treasonous! And…it’s time to DEMAND the return of all the $16-Trillion+ that these people have “robbed” America of!
September 3rd, 2012 @ 12:14 am
And with voter fraud added into the mix along with a runaway out of control government who protects an illegal alien that’s squatting in our White House while buying up hundreds of drones to fly over us and bomb us without any warrant or even a trial, we dumb and stupid Americans still want to have elections in November, I’d be getting a long thick rope and finding a tall tree for some good old fashioned American Frontier Justice as it should be.