July 21, 2011
from Unelected Website
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 (above image), 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
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
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:
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.
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
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.
...and many many more including banks in Belgium of all places