First Ever Audit of the Federal Reserve!!! Oh Wow...

5th August 2011

Link reblogged from #FULLCOMMUNISM with 142 notes

First Ever Audit of the Federal Reserve!!! Oh Wow... →

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.

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

And here we have the evil of the Fed exposed. Unelected men bailing out huge corporations to benefit them. Corporatism at its finest. Hopefully the audit (brought up by Ron Paul and Alan Grayson) will push the idea forward that the institution is doing us no good. People should inspect this more and find that both parties are looking to monetize debt by the Fed and stay in the pockets of businesses; this central bank is what is keeping our economy in ruins for consumers and booming for rich businessmen.

This is a startling and terribly troubling revelation for numerous reasons. The obvious one is that not only did the Fed loan out or give away such massive amounts of money to the biggest banks and corporations all over the world, but that it was able to shell out $16 trillion without anyone knowing! The shear magnitude of that amount of money is frightening. It shows that the Federal Reserve Bank is more powerful than the United States government.

Beyond those initial observations, why, when the US government gives the Fed its power, does the government still get charged interest on it’s debt but these large corporations that caused this whole economic crisis, get 0% on theirs?!?!?! What kind of f’d up priorities are these? Is the US government a slave to the will of the private Federal Reserve Bank? Before reading about the audit, I already thought so, but now, it’s so blatantly apparent, it’s disgusting.

Yet, I don’t recall seeing this covered in the news and where is the uproar from the masses? Our country is on the path to self destruction. We need to take action now!

Tagged: federal reserve bank broken system debt big banks corruption greed IMPORTANT NEWS learn something money wall street