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 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 placesView the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-InvestigationSource: http://www.gao.gov/products/GAO-11-696 FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf Senator Sander’s Article: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3 www.unelected.org http://www.silverbearcafe.com/private/10.11/gaoaudit.html

In fiscal year 2014, the federal government will spend around $3.8 trillion. These trillions of dollars make up a considerable chunk - around 22 perc…

The problem is that the people who make up local law enforcement owe money to the bankers, or like the money given to them (via the Federal government) for upgrades. This money-addiction trap that led to indentured servitude in law enforcement was a tactic used in the old wild west in the United States; it was a method used to "own" the law. The Lincoln County War of 1878 in New Mexico is an example of this, and the corrupt sheriff of Lincoln County (who owed $6,000.00 to the leader of one of the sides in that war) was shot by a group of men after he was forced to break the law in a manner to favor the side he owed money to (and the men who shot him included noted "outlaw" Billy The Kid). The corruption issue (and the methods used for such corruption) of the Lincoln County sheriff with this incident is never addressed in U.S. history books; all that is written is that Billy the Kid murdered Sheriff Brady.

When men and women of the law break the law, then there is no law. Just a fight for survival exists, until an uncorrupted law person comes forward after corrupted elements of the law either step down or are eliminated.

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Krishna Kalki July 25, 2014 at 1:18pm

Fed spending : where does the money go@
https://www.nationalpriorities.org/budget-basics/federal-budget-101...

But then again is it the whole truth

Federal Spending: Where Does the Money Go

In fiscal year 2014, the federal government will spend around $3.8 trillion. These trillions of dollars make up a considerable chunk - around 22 perc…
Krishna Kalki July 25, 2014 at 11:02am

One of the reasons why America is in such a state is because of having incompetent bastards working for the Fed.
$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.
Now probably the Fed has no reserve and WHAT ABOUT THE GOLD THAT WAS GIVEN TO THE FED FOR SAFEKEEPING
- Malcolm > Krishna Kalki July 25, 2014 at 12:57pm
  
  The gold that was kept for safekeeping by the Federal Reserve (including that of Germany and many European countries) was "leased out" in a scam created by Secretary of Treasury Robert Rubin (under Clinton) and Larry Summers (business professor at Harvard University, and later candidate for Secretary of Treasury under Obama). The scam involved leasing out ("not selling" on the books) of gold bullion stored, with the proceeds invested in U.S. Treasury instruments and notes. The lessors of the gold then SELL the leased out gold they hold and then ALSO invest the proceeds in U.S. Treasury instruments. This is why the dollar performed so well in the 1990's, and gold sucked. The scam would work as long as the financial system stayed solid, which it didn't. When the price of gold started taking off in the early 21st century due to exposure of financial mismanagement and corruption (especially in the U.S. real estate finance industry), foreign governments started asking for their gold back. The problem is that the gold is around the necks of women in Dubai and India, or buried in the backyards of U.S. citizens who were smart enough to buy it at under $500 and ounce.
Krishna Kalki July 25, 2014 at 10:54am

This really is mass misconduct of the highest degree and the fed ataff must be punished ...take all their wealth, property and belongings and arrest them and lock them up.
- Malcolm > Krishna Kalki July 25, 2014 at 12:39pm
  
  The problem is that the people who make up local law enforcement owe money to the bankers, or like the money given to them (via the Federal government) for upgrades. This money-addiction trap that led to indentured servitude in law enforcement was a tactic used in the old wild west in the United States; it was a method used to "own" the law. The Lincoln County War of 1878 in New Mexico is an example of this, and the corrupt sheriff of Lincoln County (who owed $6,000.00 to the leader of one of the sides in that war) was shot by a group of men after he was forced to break the law in a manner to favor the side he owed money to (and the men who shot him included noted "outlaw" Billy The Kid). The corruption issue (and the methods used for such corruption) of the Lincoln County sheriff with this incident is never addressed in U.S. history books; all that is written is that Billy the Kid murdered Sheriff Brady.
  
  When men and women of the law break the law, then there is no law. Just a fight for survival exists, until an uncorrupted law person comes forward after corrupted elements of the law either step down or are eliminated.
Malcolm July 25, 2014 at 6:57am

Now you see why the Grand Canyon, Yosemiti Park, Smokey The Bear Park,and Niagra Falls (U.S. side) all have U.N. and U.S. Department seals on them: these sites are going to be collateral for these a$$holes parties.
Krishna Kalki July 25, 2014 at 4:17am

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland...NOW THAT IS A LARGE AMOUNT.
What about the Gold that the Fed kept for safe keeping .,. is it still safe???...what do you think???
- Onna > Krishna Kalki July 25, 2014 at 5:00am
  
  These are just numbers on computer screens, nothing else.
  
  To understand more of just how wicked the system is, watch this video, really worth it
  
  Hidden Secrets of Money
  
  Mike Maloney, host of Hidden Secrets of Money, is a noted speaker and #1 bestselling author on monetary history and gold & silver investing. His acclaimed video series Hidden Secrets of Money offers a unique perspective on the history of money and its role in today’s economy.
forestgirl July 25, 2014 at 2:09am

It says at the bottom that the audit was done in 2011, has it just been released now?

Is there one done each year since 2011?

It would be interesting to know what's happening now.
- Krishna Kalki > forestgirl July 25, 2014 at 11:18am
  
  After giving away $16,000,000,000,000,00 the Fed is probably broke so not much to declare after 2011.
  
  However have a look at this graph which covers till about now

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