Our Gob'ment in action.......secretly

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  • Premium Parrots
    Super Moderators
    • Feb 2008
    • 9759

    Our Gob'ment in action.......secretly

    Tuesday, September 27, 2011
    First Ever GAO Audit Of The Federal Reserve
    http://nesaranews.blogspot.com/2011/...l-reserve.html
    You can click on the site and read the report.
    This might make your blood boil!


    The first ever GAO 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, 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 nearly 100 year history were posted on Senator Sanderâs webpage earlier this morning.
    http://sanders.senate.gov/newsroom/n...3-62060dcbb3c3

    What was revealed in the audit was startling:
    $16,000,000,000,000.00 (TRILLION) 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 worldâs 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. ****

    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. 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)

    IT WILL BE INTERESTING AS TO HOW MUCH ATTENTION (AS WELL AS THE SLANT) THE MAINSTREAM MEDIA GIVES THIS UNBELIEVABLE POSITION OF OUR GOVERNMENT HAS PLACED US IN WITH NEVER PREVIOUSLY HAVING AN AUDIT OF THE FEDERAL RESERVE.

    I AM CONFIDENT THAT WE WILL HEAR SOMETHING LIKE THE FED HAD TO GIVE STIMULUS TO WHOM THE $16 TRILLION WENT TOO BECAUSE IF WE HAD NOT ALLOWED THIS IT WOULD BE THEIR COLLAPSE AND THEN OURS.

    HAS ANYONE EVER HEARD OF CLOWARD AND PIVEN ECONOMICS? (PARAPHRASING) IT INVOLVES TWO HARVARD PROFESSORS WHOSE BOOK SAID TO CHANGE ANY GOVERNMENT’S ECONOMIC SYSTEM INTO A SOCIALIST ONE, IT SIMPLY DRIVES THEIR ECONOMY INTO THE DITCH THEN THE CITIZENS ALLOW THE GOVERNMENT TO DO WHAT THEY WISH TO SAVE THEM




    just sayin




    sorry for the caps. that was copy & pasted.


    of course, you all knew that. I can't put 2 words together to make any sense.
    Grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to hide the bodies of the people I killed because they were annoying......





    I've been wrong lots of times.  Lots of times I've thought I was wrong only to find out that I was right in the beginning.


  • sirloot
    Senior Member
    • Mar 2011
    • 2607

    #2
    I hope that people are smart enough to know that Gov't is the burden of modern society

    Comment

    • lxskllr
      Member
      • Sep 2007
      • 13435

      #3
      Invest in the future. Bitcoins, gold, canned goods, and firearms... :^S

      Comment

      • shikitohno
        Member
        • Jul 2009
        • 1156

        #4
        Originally posted by lxskllr
        Invest in the future. Bitcoins, gold, canned goods, and firearms... :^S
        If the exchange rate on bitcoins wasn't so volatile, it wouldn't be a half bad suggestion. As it is, $9/฿ one day, $14/฿ the next, not quite welcoming for the long-term investor. As much as I like the idea, I doubt it'll gain much currency unless means for a face to face exchange are devised that don't involve me carrying my laptop so I can buy some beer. Rice is also a good investment for worst case scenarios. It tastes good, stores for ages in the right conditions, is high energy, and easy to cook. As an added perk, if you're reduced to eating rice every day due to crushing future poverty, the constipation it'll cause will save you money on toilet paper. All around win right there.

        Comment

        • Ainkor
          Member
          • Sep 2008
          • 1144

          #5
          That post was a bit deceptive. There isn't 16 trillion in outstanding loans out there. Read through the report and as screwed up as it is, it's not nearly as bad as that site would have you believe. Granted, I don't have a doctorate in economics but I did read the (incredibly dry!) PDF from http://sanders.senate.gov/imo/media/...estigation.pdf

          So as it sits there is about 1 trillion in outstanding loans out there, mainly in mortgage backed securities which where bought in hopes of propping up the economy and stimulating lending.

          With that said, what would you have done?

          Comment

          • AtreyuKun
            Member
            • Aug 2009
            • 1223

            #6
            These people rule the world. Simple as that. Government means nothing.
            Nothing will ever get better and there is nothing on this earth that any one of us can do to stop it. I'm just happy with the measly sum I can scrape together every 12 months.

            Comment

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