Topic: USA USA USA USA USA USA
Anonymous A started this discussion 15 years ago #14,189
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
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
green !6PPj7P5Iag joined in and replied with this 15 years ago, 9 minutes later[^] [v] #251,979
Mods; please ban this fucking psychotic troll. He is conspiring to kill me.
Anonymous C joined in and replied with this 15 years ago, 21 minutes later, 31 minutes after the original post[^] [v] #251,983
There will be absolutely zero consequences. That is the truly outrageous part.
Anonymous D joined in and replied with this 15 years ago, 3 minutes later, 34 minutes after the original post[^] [v] #251,985
SQUARED :3 !L.....AlN. joined in and replied with this 15 years ago, 4 minutes later, 39 minutes after the original post[^] [v] #251,987
These were loans. I don't see the problem here.
Anonymous D replied with this 15 years ago, 2 minutes later, 41 minutes after the original post[^] [v] #251,988
SQUARED :3 !L.....AlN. replied with this 15 years ago, 1 minute later, 43 minutes after the original post[^] [v] #251,989
Anonymous D replied with this 15 years ago, 2 minutes later, 46 minutes after the original post[^] [v] #251,990
@previous (SQUARED :3 !L.....AlN.)
well maybe you are right
this is old news and apparently most of the 16 trillion was payed back
but this whole money thing is still retarded
it's all fake and gay
well maybe you are right
this is old news and apparently most of the 16 trillion was payed back
but this whole money thing is still retarded
it's all fake and gay
(Edited 1 minute later.)
SQUARED :3 !L.....AlN. replied with this 15 years ago, 1 minute later, 47 minutes after the original post[^] [v] #251,991
Fake anon !ZkUt8arUCU joined in and replied with this 15 years ago, 5 minutes later, 52 minutes after the original post[^] [v] #251,993
Those numbers seem... off. Citigroup only has a revenue of a few billion dollars a year, so it seems absurd that they would need or be lent $2.5 trillion.
Anonymous D replied with this 15 years ago, 7 minutes later, 1 hour after the original post[^] [v] #251,994
@previous (Fake anon !ZkUt8arUCU)
it was a bunch of 'overnight loans' of billions of dollars over a three year period
and then crazy financial mathematics applied
to get the number you see there
it was a bunch of 'overnight loans' of billions of dollars over a three year period
and then crazy financial mathematics applied
to get the number you see there
(Edited 30 seconds later.)
Anonymous G joined in and replied with this 15 years ago, 6 minutes later, 1 hour after the original post[^] [v] #251,995
Fake anon !ZkUt8arUCU replied with this 15 years ago, 8 minutes later, 1 hour after the original post[^] [v] #251,996
@251,994 (D)
That makes more sense. I can't copy + paste from my phone, but on the bottom of pg. 130 to the top of 131, it says that a $10 billion loan renewed every night for 30 days would count as $300 billion. That explains the absurdly high numbers.
That makes more sense. I can't copy + paste from my phone, but on the bottom of pg. 130 to the top of 131, it says that a $10 billion loan renewed every night for 30 days would count as $300 billion. That explains the absurdly high numbers.
(Edited 27 seconds later.)
Ks !KansasxqvM joined in and replied with this 15 years ago, 57 minutes later, 2 hours after the original post[^] [v] #252,006
Inflate the dollar until it's worthless.
Anonymous C replied with this 15 years ago, 1 minute later, 2 hours after the original post[^] [v] #252,009
Anonymous A (OP) replied with this 15 years ago, 1 hour later, 3 hours after the original post[^] [v] #252,047
i dont understand whats going on here. . .looks like a quality post for once
Anonymous I joined in and replied with this 15 years ago, 6 minutes later, 3 hours after the original post[^] [v] #252,051
floorboard !hbZVTk6JYc joined in and replied with this 15 years ago, 8 minutes later, 3 hours after the original post[^] [v] #252,055
Fake anon !ZkUt8arUCU replied with this 15 years ago, 7 seconds later, 3 hours after the original post[^] [v] #252,056
cccuuunnttt !nIGga.SL0w joined in and replied with this 15 years ago, 31 minutes later, 4 hours after the original post[^] [v] #252,064
Uhh.
Ks !KansasxqvM replied with this 15 years ago, 45 minutes later, 5 hours after the original post[^] [v] #252,096
Walter Calton !0VegJ9Jl.Q joined in and replied with this 15 years ago, 20 seconds later, 5 hours after the original post[^] [v] #252,097
cccuuunnttt !nIGga.SL0w replied with this 15 years ago, 5 minutes later, 5 hours after the original post[^] [v] #252,100
@252,096 (Ks !KansasxqvM)
Crackpot shit. Anytime sometime starts bawwing about the Federal Reserve, I just hear wahh wahh wahh. Don't care at all.
Crackpot shit. Anytime sometime starts bawwing about the Federal Reserve, I just hear wahh wahh wahh. Don't care at all.
Walter Calton !0VegJ9Jl.Q replied with this 15 years ago, 2 minutes later, 5 hours after the original post[^] [v] #252,101
Ks !KansasxqvM replied with this 15 years ago, 21 seconds later, 5 hours after the original post[^] [v] #252,103
@252,100 (cccuuunnttt !nIGga.SL0w)
I don't know enough about the FR vs gold standard to have much of an opinion, but I do understand inflation. Printing off all that money = massive inflation.
I don't know enough about the FR vs gold standard to have much of an opinion, but I do understand inflation. Printing off all that money = massive inflation.
(Edited 26 seconds later.)
cccuuunnttt !nIGga.SL0w replied with this 15 years ago, 50 seconds later, 5 hours after the original post[^] [v] #252,104
Walter Calton !0VegJ9Jl.Q replied with this 15 years ago, 1 minute later, 5 hours after the original post[^] [v] #252,106
Ks !KansasxqvM replied with this 15 years ago, 2 minutes later, 5 hours after the original post[^] [v] #252,115
Ks !KansasxqvM double-posted this 15 years ago, 1 minute later, 5 hours after the original post[^] [v] #252,118
@252,106 (Walter Calton !0VegJ9Jl.Q)
Things like this aren't a matter of opinion really... it's math. One is better one is worse, I dunno which.
Things like this aren't a matter of opinion really... it's math. One is better one is worse, I dunno which.
Walter Calton !0VegJ9Jl.Q replied with this 15 years ago, 5 minutes later, 5 hours after the original post[^] [v] #252,127
@previous (Ks !KansasxqvM)
The federal reserve fucks with our money outside of the legal process (the US currency is supposed to be managed by CONGRESS, not a fucking public-when-convenient-private-when-convenient bumblefuck recession-machine that prints out lies and deception.
The federal reserve fucks with our money outside of the legal process (the US currency is supposed to be managed by CONGRESS, not a fucking public-when-convenient-private-when-convenient bumblefuck recession-machine that prints out lies and deception.
Ks !KansasxqvM replied with this 15 years ago, 2 minutes later, 5 hours after the original post[^] [v] #252,129
Walter Calton !0VegJ9Jl.Q replied with this 15 years ago, 3 minutes later, 5 hours after the original post[^] [v] #252,135
Anonymous M joined in and replied with this 15 years ago, 1 minute later, 5 hours after the original post[^] [v] #252,136
Bernie Sanders doesn't understand how the global economy works.
Anonymous N joined in and replied with this 15 years ago, 19 minutes later, 5 hours after the original post[^] [v] #252,166
@252,103 (Ks !KansasxqvM)
All of the recent money printing wasn't going to show up as inflation in the US. It was intended to do two things, nominally lowering the national debt, but mostly it was retaliation in the currency war against China. Because China intentionally devalues its currency, all of that inflation was exported to China. I was against monetizing debt, but this was clever and it impresses me. China has a pretty big inflation problem in some of its manufacturing cities (20%+) and it is partly because of this.
The US economy is a juggernaut. China was pushing for a new trade currency mostly because we can do things like that. The yuan can't be a trade currency or it would have to float and China suddenly loses trade power. Too bad for them everyone came running back to the dollar with all of the Euro woes.
We don't need a gold standard. The weak dollar is the US quietly flexing its muscles in a way the emerging economies didn't understand and can't compete with. A lot of the conspiracy theorists just don't understand this.
All of the recent money printing wasn't going to show up as inflation in the US. It was intended to do two things, nominally lowering the national debt, but mostly it was retaliation in the currency war against China. Because China intentionally devalues its currency, all of that inflation was exported to China. I was against monetizing debt, but this was clever and it impresses me. China has a pretty big inflation problem in some of its manufacturing cities (20%+) and it is partly because of this.
The US economy is a juggernaut. China was pushing for a new trade currency mostly because we can do things like that. The yuan can't be a trade currency or it would have to float and China suddenly loses trade power. Too bad for them everyone came running back to the dollar with all of the Euro woes.
We don't need a gold standard. The weak dollar is the US quietly flexing its muscles in a way the emerging economies didn't understand and can't compete with. A lot of the conspiracy theorists just don't understand this.
Anonymous G replied with this 15 years ago, 20 minutes later, 6 hours after the original post[^] [v] #252,200
Anonymous C replied with this 15 years ago, 2 hours later, 8 hours after the original post[^] [v] #252,256
@252,129 (Ks !KansasxqvM)
Oh shit, not the tinfoil hat counter-argument. Game over kids. KS has posted a pic which clearly proves the Fed IS NOT an unaccountable self-interested old boys club. Phew. I feel so much better about the state of America now.
Oh shit, not the tinfoil hat counter-argument. Game over kids. KS has posted a pic which clearly proves the Fed IS NOT an unaccountable self-interested old boys club. Phew. I feel so much better about the state of America now.