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

17 posts / 0 new
Last post
Ernie Pantusso
Ernie Pantusso's picture
Offline
Joined: 07/14/2011
Hat Tips: 397
Posts: 103
Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

From http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts

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.

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.

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)
 

Edited by admin on 11/08/2014 - 06:05
UGrev
UGrev's picture
Offline
Joined: 06/14/2011
Hat Tips: 884
Posts: 168
WHAT THE FUCK!!

angryWHAT THE FUCK!!

¤
¤'s picture
Offline
Joined: 06/14/2011
Hat Tips: 92321
Posts: 18245
Another WTF!

That kind of ruined my a.m. for now.

__________________

An epic lack of foresight, accuracy and humility over 3 1/2 years ago. Once a pumper, always a pumper!
http://www.tfmetalsreport.com/comment/170246#comment-170246

Know More
Know More's picture
Offline
Joined: 06/14/2011
Hat Tips: 108
Posts: 73
$16 trillion - to Banksters!?

Banksters*:    $16 trillion and counting

(does anyone believe that this "audit" is accurate, complete, honest)

Military-Industrial Complex: $5 trillion and counting

for the "War on Terror"** 

The People***:  "Austerity" 

(social security -into which hundreds of millions of Americans have paid trillions of their wealth (via THREAT OF FORCE for noncompliance) is an "unfunded liability" - that's rich - real f'ing cute!)

*Austerity must begin with the Privately Owned "federal reserve", followed by the military-industrial complex; banksters, industrialists owe reparations; politicians have only one reamaining function - undo the illegal criminal mess they've created for their banker-masters.

** WoT is bogus - we've been had on this too!

(I  loath "bragging", but as background on why I say enough on the bogus "WoT" is because I (proudly) servered 3 decades in Armed Forces  - therefore IMO -I know well and call out a b.s. campaign ... Yes - it provides jobs to a limited portion of the nation; but provides massive profits to a very few elites (who control the show-from top to bottom -conflict of interest anyone?)).

Americans can and must do much better; time for defensive only military, with spending re-directed to a peace economy (sky is the limit on what we can do - besides blowing up things and people for the benefit of very few!). 

Draft every single politician, talking-head media type, "captain" of industry, "special interest" lobbying organization (even if they're not American-based and especially if they are foreign citizens)  - for front line service - every time they decide we shed blood for their "wars"! 

***The only and real legitimate government - if they would only snap out of their zombie trance and take it back from the criminal co-conspirators in DC, States' capitols, municipal locales, ... 

Magpie
Magpie's picture
Offline
Joined: 06/14/2011
Hat Tips: 11455
Posts: 2151
Where's the news coverage?

Anyone heard news coverage on this story?  Anything from Ron Paul?  Fox?  Bueller?

Crickets.

It seems to me that this is a huge friggin' story........TARP was allegedly held to just under $1T, but it was really $16T.  That's one whopper of a lie. 

__________________

ancaro imparo.

Blight Master
Blight Master's picture
Offline
Joined: 07/18/2011
Hat Tips: 480
Posts: 119
Anyone surprised? Really I'm

Anyone surprised? Really I'm only surprised that this information (if factual) was revealed in the first place.

Justin
Justin's picture
Offline
Joined: 06/14/2011
Hat Tips: 1869
Posts: 129
This is nuckin' futs.  Why do

This is nuckin' futs.  Why do we even pay taxes anymore when they just print up all the money they need?  Next year I'm just going to send in some ink and paper with my tax return and tell them to have at it.

__________________

Only root karate come from Miyagi. Just like bonsai choose own way grow because root strong, you choose own way do karate same reason. - Mr. Miyagi

UGrev
UGrev's picture
Offline
Joined: 06/14/2011
Hat Tips: 884
Posts: 168
Tweet it.. g+ it, write a

Tweet it.. g+ it, write a linked-in comment.. blog it.. pass it..

It will eventually bubble up..

Know More
Know More's picture
Offline
Joined: 06/14/2011
Hat Tips: 108
Posts: 73
Grand-theft Nation

Time for all responsible to do the perp walk into life-sentence prison cells

Violent Rhetoric
Violent Rhetoric's picture
Offline
Joined: 06/16/2011
Hat Tips: 475
Posts: 219
Sad but not surprising. Well

Sad but not surprising. Well it is a surprise Goldman isn't at the top of the list.

__________________

Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

This is known as “bad luck.”
~ Robert Heinlein

thecoloredsky
thecoloredsky's picture
Offline
Joined: 06/14/2011
Hat Tips: 1331
Posts: 175
When I get back to my

When I get back to my computer I will check out the pdf. But does this also include qe2 which ZH already exposed a few months back?

DigMyEarth
DigMyEarth's picture
Offline
Joined: 06/18/2011
Posts: 40
Video on the same subject by Democracy Now

f'ing tragic...

http://www.democracynow.org/2011/7/22/pushing_crisis_gop_cries_wolf_on

qqq62
qqq62's picture
Offline
Joined: 06/15/2011
Hat Tips: 66
Posts: 74
There's More...

This is'nt the end of it! the 600 trill or more derivative market has yet to be exposed properly! those of us in the know, know that this market is where some of the biggest fraud is taking place right now.

A least we have the names of all the crims! makes it easier for us to round them up when the time comes!

__________________

learn from yesterday live for today hope for tomorrow

UGrev
UGrev's picture
Offline
Joined: 06/14/2011
Hat Tips: 884
Posts: 168
Thanks for reminding me about

Thanks for reminding me about  that.. I had almost forgotten about it since I first read about it on ZH.  Makes this look like pocket change in comparison. 

ReachWest
ReachWest's picture
Offline
Joined: 06/15/2011
Hat Tips: 11861
Posts: 1031
PM Suppression Ammo

$16 Trillion to the banks - wow.

No wonder they continue to the suppression of Gold and Silver - it's free money they're using and the have a virtually unlimited supply. 

At some point everyone will wake up and the Comex will no longer be a valid price discovery mechanism for the PMs. 

For me - physical in my own grubby little hands will continue to be the only viable assault on this travesty.

ohiometalman
ohiometalman's picture
Offline
Joined: 06/14/2011
Hat Tips: 581
Posts: 76
Treason!

This continued criminal and treasonous behavior that goes unchecked must come to an end!  The day will come when a rope in the public square will be the only choice.  There is NO accountability for the behavior, frankly it is encouraged by all participating in this game.  They will continue to fleece the sheep until the consequence for the actions are demonstrated.  I encourage everyone to unplug yourself from the system, pay only with fiat, after your taxes are paid invest your money in tangible assets that the government/banks (yes they are the same) cannot get their hands on, and most important, prepare to defend yourself and your family as I fear it will come to this.

Oh, and have a nice day!

Ernie Pantusso
Ernie Pantusso's picture
Offline
Joined: 07/14/2011
Hat Tips: 397
Posts: 103
ReachWest wrote: $16 Trillion

ReachWest wrote:

$16 Trillion to the banks - wow.

Not to the banks RW, just to friendly banks.

Note, of the whole list, not a single bank from Russia, China, India, South America, Africa ...

Some banks get support, others don't.

And then we accuse Russia and China before the wto for being reluctant in applying free market laws

Pure hypocrisy

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts"