Fed Audit Reveals Eye-Popping $16 Trillion In Secret Loans To Bailout Bankers

[ktlight]

FYI:

An audit of the Fed reveals why the establishment resisted an audit for so long – The U.S secretly provided an eye-popping $16 Trillion in secret loans to bailout U.S. and foreign bankers.



From Senator Bernie Sanders:

The Fed Audit

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. “As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”

Among the investigation’s key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. “No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president,” Sanders said.

The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.

For example, the CEO of JP Morgan Chase served on the New York Fed’s board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed’s emergency lending programs.

In another disturbing finding, the GAO said that on Sept. 19, 2008, William Dudley, who is now the New York Fed president, was granted a waiver to let him keep investments in AIG and General Electric at the same time AIG and GE were given bailout funds. One reason the Fed did not make Dudley sell his holdings, according to the audit, was that it might have created the appearance of a conflict of interest.

To Sanders, the conclusion is simple. “No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed’s board of directors or be employed by the Fed,” he said.

The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans.

The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo. The same firms also received trillions of dollars in Fed loans at near-zero interest rates. Altogether some two-thirds of the contracts that the Fed awarded to manage its emergency lending programs were no-bid contracts. Morgan Stanley was given the largest no-bid contract worth $108.4 million to help manage the Fed bailout of AIG.

A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18, but Sanders said one thing already is abundantly clear. “The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street.”

source
http://blog.alexanderhiggins.com/2011/07/21/fed-audit-reveals-eyepopping-details-16-trillion-secret-banker-bailout-loans-37651/

[Lord Sidious]

They stopped two banks in australia from collapsing without the public here knowing.
In the meantime, they were crowing here about how the recession had passed over us.
Nuggets.

[enfoldedblue]

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."

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

http://sanders.senate.gov/newsroom/news/?id=9E2A4EA8-6E73-4BE2-A753-62060DCBB3C3

http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

[Maia Gabrial]

My jaw hurts from gritted my teeth so hard.
Thanks for sharing.

[ThePythonicCow]

Tennessee Ernie Ford's "Sixteen Tons" (http://www.cowboylyrics.com/lyrics/classic-country/sixteen-tons---tennessee-ernie-ford-14930.html):

You load sixteen tons, what do you get
Another day older and deeper in debt
Saint Peter don't you call me 'cause I can't go
I owe my soul to the company store
This is no longer about one coal miner owing his soul to the company store.

This is about entangling the world's largest banks, nations and corporations in a web of debt, such that they owe vastly more than can ever be repaid to the agents of usury.

It's about control, not profit.

It's about creating the chaos out of which a new order can be formed (probably not an order to my liking :(.)

[Lancelot]

16 Trillion in loans of money that doesn't even exist! ..Nice of them NOT to charge interest though!
IMHO This is getting ridiculous. Enough is enough. Time for a change, I have 2 solutions for the Fed

1 - Continue giving interest free loans but to everyone who needs one, I mean made up moneys free isn't it?- Dish it out then, lets see the end of world poverty and starvation, invest it in sustainable fuel plants etc etc
.
2 - Wipe the debt slate clean. Cancel all debts and lets get rid of money altogether. Introduce a credit barter system where the philosophy is that everyone works together for the good of fellow mankind. (oh, and that definitely doesn't include making weapons)

[Lost Soul]

Let the Treasury issue Treasury Notes. Cash in all Federal Reserve Notes and pass the Glass Stegall Act (to close down the derivative market. No more hedging either). The Fed (banker) is not your friend.

[etheric underground]

This is unbelievable. If this doesnt show the American public that they have been sold out by there own administration
I dont know what will. I feel for you all over there, I also wonder how this will affect us in Australia down the track??

[Flash]

Has it been picked up by the regular media, and if not, will it be? Most sleeping sheeps only look at the television. Did the scandal appears or not? If it does, American may wake up in mass.

[Snowbird]

This is a very charged issue that has been brought to our attention during a very trying time period.

What Bernanke and the Fed and Obama have done here is nothing short of horrendously other worldly. From December of 2007 to June of 2010 is the time period that Bernanke was signing away the future of the U.S. In January of 2010, Obama confirmed Bernanke for a second term, all the while knowing what he and the Fed had done. Shall we say that they have no conscience?

With this in mind, we all need to understand that the trillions that have been doled out, have no value. They are fiat dollars that are backed by n-o-t-h-i-n-g. They are merely paper and in the case of the Fed and the Trillions, they are merely key strokes on a computer pretending to issue wealth to the wealthy.

Our money, has no value.

Post-war international gold-dollar standard (1946–1971)
Main article: Bretton Woods system

After the Second World War, a system similar to a Gold Standard and sometimes described as a "gold exchange standard" was established by the Bretton Woods Agreements. Under this system, many countries fixed their exchange rates relative to the U.S. dollar. The U.S. promised to fix the price of gold at approximately $35 per ounce. Implicitly, then, all currencies pegged to the dollar also had a fixed value in terms of gold. Under the administration of the French President Charles de Gaulle up to 1970, France reduced its dollar reserves, trading them for gold from the U.S. government, thereby reducing U.S. economic influence abroad. This, along with the fiscal strain of federal expenditures for the Vietnam War and persistent balance of payments deficits, led President Richard Nixon to end the direct convertibility of the dollar to gold on August 15th 1971, resulting in the system's breakdown (the "Nixon Shock").

[ThePythonicCow]

With this in mind, we all need to understand that the trillions that have been doled out, have no value.
Ah, but they do have value. They don't cost the Federal Reserve anything to create, that's true.

But they are both a credit and a debt.

They can be used to purchase things and to make payments on existing debt and taxes.

And they are a debt. They are not a debt that can reasonably be expected to be paid back in full, but they are a debt that can be used to extort the borrower.

It's a grand entangled spider web of interlocking debt, like the securitized mortgage debts of the last decade, but on a much bigger scale.

Someone is no doubt planning to make out like a bandit (and a tyrant) when this web comes unraveled.

My guess is that they're planning to move the dominant center of power from the US to China, with perhaps an intermediate sized war, but not a civilization destroying war.

[Operator]

Our money, has no value.

Not to worry ... money has no value too here ... and everywhere where I look.

It has only value to those whole still believe in it.

[DoubleHelix]

Each country with foreign and domestic debt should default, default ,default - wipe the slate, start again.

[Operator]

Each country with foreign and domestic debt should default, default ,default - wipe the slate, start again.

Do this whole charade again ? ... no thanks :rolleyes:

[DoubleHelix]

Yeah on second thoughts my heads hurting just thinking about it, what viable alternative do we envisage for the current monetary system?

Shall we just pass around rocks...

[Operator]

Yeah on second thoughts my heads hurting just thinking about it, what viable alternative do we envisage for the current monetary system?

Shall we just pass around rocks...

No, we could listen to Alex Collier and the Andromeda advice ... why pay on a planet you were born on ?

I know it still sounds crazy and unacceptable for most of us but consider this:

If we get hold of technology like tele-portation everything changes ... they can open or close a supermarket whenever they like
it doesn't matter anyway because you can zap in and out take everything you need without passing the register and checking out.

In the current paradigm that's unethical, so that's why spiritual maturity is required ...
But we're moving in that direction and cannot be stopped so yeah it will become PTB without power I'm afraid ..... :biggrin1:

[onawah]

Remember the last time a story like this broke?

When Donald Rumsfeld announced $2.3 trillion had "gone missing" from the Pentagon on September 10th, 2001?

David Wilcock has this to say in this latest blog entry at :
http://divinecosmos.com/start-here/davids-blog/956-1950s-ets

"EVERYTHING COMES TO A HEAD IN AUGUST

What I'm hearing from various insider sources is that we are very, very close to a complete reboot of the world's financial system. China, Russia, Brazil, India, South Africa and other nations have allied for this common cause.

As the Old World Order clings to the very last threads of financial and worldly power, they are now putting out dire-sounding warnings about "global economic collapse," "financial armageddon," et cetera that will occur if the US doesn't go even more into debt.

Remember -- whatever they are saying, usually the opposite is true. When they put this much energy into trying to scare you about something, usually it means it's actually a really good thing. So let it die! Until this happens we will not get Disclosure.

I continue to hear that most of the Washington establishment is on 24-hour notice to flee the country when it all blows back in their faces. The Fox News scandal was not part of an insider plan, and it appears to be accelerating with stunning speed.

As a last-ditch effort to survive, I have heard the insiders want to do as many as 1700 different damaging events, coordinated all at once, through Al-Queda operatives in August -- after Ramadan, when Muslims are in their greatest patriotic fervor.

I do not believe this will succeed, and mentioning it is a good way to prevent it. For months now I've been hearing they plan to have everything come to a head in August, and now I see media evidence that these rumors were accurate.

Thankfully, we have powerful friends helping us -- and they've been here all along.


[UPDATE 11:00 AM: I DON'T LIKE BEING RIGHT ON STUFF LIKE THIS...

As those 5000 or so who saw this article when it first went up can attest, I wrote and published the above, and was all done with edits, by about 4:45 AM.

I woke up to see these headlines -- in which this specific prophecy, which I had heard very recently from insiders, had already started coming true:

'Breaking" Oslo blast targets PM's office' etc.

I'm not sure what the connection is with the Prime Minister of Norway, but undoubtedly we will find out soon. These things are now being exposed at lightning speed.

It could just be an 'ordinary' event, but the timing is very (unfortunately) synchronistic with my just having posted about false-flag events of this sort.

This is all the more indication that these folks are willing to fight hard, all the way down. They are desperate. Each move like this is akin to a heroin junkie looking for one last fix. They will be exposed, rooted out and forced to stand trial, as we are now seeing.

Disclosure is not an easy battle... but we can win this. And we will.

It is written into the very fabric of Time."

[Artemesia]

With this in mind, we all need to understand that the trillions that have been doled out, have no value.
Ah, but they do have value. They don't cost the Federal Reserve anything to create, that's true.

But they are both a credit and a debt.



Pull back up into a view from space with the Earth as a small blue planet, floating. Ahhhhh. From that perspective its easier to remember that this WHOLE experience, from 16 trillion dollar details to small interrelationships between mosquitos and their blood quarry, is all about ENERGETIC relationships. The little pieces of paper with numbers on them are REPRESENTATIONS OF THIS. As a result of people giving their perception of 'authority' to an agency like the Fed, they ALLOW these energetic constructs based on imbalance to continue. Withdraw your acknowledgement of the Fed as a power structure worth noticing and you withdraw your power, which is essentially the same as withdrawing your little pieces of paper with numbers on them. On a small scale, one's withdrawal of PERCEPTION in this way seemingly does little, but it is signifigant. Note this is different than withdrawing all ATTENTION, which is where the head in the sand move can really bite you in the *** later. When the power players themselves make this withdrawal, and they will, then there you have it, the structure falls completely because it is no longer plugged into anything. Little steps lead to big progress... eventually. I know, the eventually is sort of dragging on a bit long at this point, but its still imminent, in a cosmic sense. This is the concept behind 'unplugging from the patriarchy' which Lucia Rene pioneered. I encourage everyone to make their withdrawals as soon as possible so the bank will close and we can get on with conciousness evolving into bliss, and other fun stuff......

[Sierra]

I am so ignorant about money. I have some questions.

1. Why would the Federal Reserve loan out 16 trillion and make no profit, set no interest? What is the motive? Are they simply giving money to their fellow cronies in the PTB? Do they plan to foreclose other countries as they have pretty much foreclosed on the US?

2. The Federal Reserve is a private institution, obviously it does not serve the United States. Who controls and owns the Federal Reserve?

3. And why is the Federal Reserve using money to drive the US into a 3rd world economic status? Where is their bang for buck in that?

4. Does any other nation's Office of Printed Money give it away like that?

5. Do TPTB/nations pass around the control or source of wealth to each other? I mean ... why not if they have a motive. It is not as if they'd ever suffer the consequences of their own actions and maybe there is a point in shifting power from the US to China. And it is what has happened historically speaking ... so why? Why does it happen then?

6. Odd little question that won't shut up ... Remember after 9/11, the powers that be were practically begging consumers to go out and spend money. Why? Why ask consumers to support what they crashed? To hasten the fall?

Someone needs to connect the dots for me. As you can see, I am not one who understands money. Thanking you in advance you poor souls willing to educate me lol

Sierra

[bitworm]

I am so ignorant about money. I have some questions.
...

5. Do TPTB/nations pass around the control or source of wealth to each other? I mean ... why not if they have a motive. It is not as if they'd ever suffer the consequences of their own actions and maybe there is a point in shifting power from the US to China. And it is what has happened historically speaking ... so why? Why does it happen then?

6. Odd little question that won't shut up ... Remember after 9/11, the powers that be were practically begging consumers to go out and spend money. Why? Why ask consumers to support what they crashed? To hasten the fall?


Sierra

When you run out of places to build walmarts, one solution is to go make more places by forcing other cultures not only to accept the walmarts and everything they represent, but to depend on them. Another solution is to buy other companies and turn their stores into walmarts. These other countries/corporations are just doing what they've been taught. But a successful capitalist society by design will end up swallowing everything else until it is the only thing left. Like what happens in Highlander.

By encouraging people to buy stuff, it keeps the factories running and the stores open and for a while, the stock prices up. But this is a temporary effect. People eventually realize they don't need most of the things they have been buying and the sales slow down. Then the factories start laying off or hiring cheaper labor elsewhere. Then the stock prices go back down towards what their real value should have been all along, and the companies can't pay their bills and either get bought out or go out of business, while the people hadn't been able to pay their bills since they got laid off. People dumping money into things that are not tangible, like loans, interest and insurance 'products' only allows banks to delay the inevitable.

You might remember what happened several years ago when they started mailing out those 'stimulus checks'. I think I got like $400, but others got a bit more. The idea was for people to go down to the walmart and buy stuff, but I think most people used it to pay the banker, which was equivalent to taking the checks and burning them. It doesn't help the bankers to pass out money unless that money results in more goods.

[Tane Mahuta]

This is unbelievable. If this doesnt show the American public that they have been sold out by there own administration
I dont know what will. I feel for you all over there, I also wonder how this will affect us in Australia down the track??

Hi Ether, this will will effect the entire world, those contries that are integrated into the international monetary scam

TT

¤=[Post Update]=¤


Yeah on second thoughts my heads hurting just thinking about it, what viable alternative do we envisage for the current monetary system?

Shall we just pass around rocks...

Do some research regarding Jacques Fresco. I think he's on the right track.

[loveandgratitude]

The whole world - default. Every loan, every credit card, every house payment, every car payment..........just default. Jubilee in action.

[onawah]

Two more media sites have picked up this story now
http://www.washingtonpost.com/busine...nSI_story.html
and
http://www.thenewamerican.com/economy/markets-mainmenu-45/8313-fed-audit-trillions-for-foreign-banks-conflicts-of-interest

The latter has this to say:

"During a 2½ year period starting at the end of 2007, the Federal Reserve provided more than $16 trillion in secret bailouts to banks and other companies around the world, according to a government audit of some of the U.S. central bank’s operations.

Much of the Fed's largesse was lavished on banks in Europe (such as Barclays, left) and Asia, the audit revealed. More than $3 trillion, for example, went to financial institutions in just five European countries. Trillions more flowed toward some of the biggest banks in America. Institutions from Brazil and Mexico to South Korea and Canada also benefited.

The 266-page report, produced by Congress’s non-partisan investigative service known as the Government Accountability Office (GAO), has already sparked intense outrage since its release on July 21. Fed apologists, however, have been quick to defend the actions, saying they were “necessary” to “save” the economy and justified under the Federal Reserve Act.

“The scale and nature of this assistance amounted to an unprecedented expansion of the Federal Reserve System’s traditional role as lender-of-last-resort to depository institutions,” the report stated.

Beyond the secret bailouts — to put the figure in perspective, consider that the output of the entire U.S. economy last year was well under $15 trillion — problems with conflicts of interest and no-bid contracts also featured prominently in the audit report.

One example highlighted by Sen. Bernie Sanders (I - Vt.) was the CEO of JP Morgan Chase serving on the board of the New York Fed even as his firm scooped up almost $500 billion from the central bank. The bank was simultaneously helping to administer the Fed’s secret bailouts.

But JP Morgan Chase was hardly the only example. According to the analysis, more than 80 percent of the Fed’s largest contracts to manage the programs were awarded without bidding.

Many of the companies that received the contracts were also being showered with central-bank bailouts at the same time. And more than a few insiders were granted “waivers” to hold investments in companies that were being rescued by the Fed.

"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," Sen. Sanders, a self-described socialist, said in a statement about the report. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

The congressional investigation was triggered as part of the financial “reform” bill passed last year despite strong Fed opposition. After the original “audit the Fed” bill by Rep. Ron Paul (R-Texas) passed in the House and became extraordinarily popular with Americans, Sen. Sanders helped ensure that only a watered-down version made it out of the Senate.

But even with what is known so far, critics are on the attack. Another report about the Fed is also due to be released in October of this year. And in recent months, other previously secret information about the Fed and its operations has come out following years of litigation.

All of the disclosures have fueled a growing anti-Fed movement aiming to eventually abolish the central bank - essentially a sort of banking cartel with private shareholders but some veneer of government oversight. Sen. Sanders suggested in his public statement, however, that the institution should merely be “reformed” to serve "working families" and not just Wall Street CEOs.

"No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," he noted in the statement, perhaps not realizing that the Fed, by its own admission, is not an agency of the government. "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed."

The biggest single beneficiary of the Fed’s bailouts was Citigroup, which received about $2.5 trillion in assistance. Several other top banks in the United States, including Bank of America and Morgan Stanley also benefited to the tune of trillions of dollars. British bank Barclays PLC took close to $1 trillion.

The GAO report suggested that the Fed should implement better policies to deal with conflicts of interest. Its policies on awarding contracts, record keeping and risk management should also be revised, the agency recommended.

The Fed’s chief lawyer responded by saying that the central bank would “strongly consider” the advice. But for now — following bailouts to a bank owned by Libyan dictator Muammar Gaddafi, blatant and widespread market manipulation, wild money printing, and secret bailouts larger than the U.S. economy — analysts expect outrage to continue growing. "

[Tane Mahuta]

I am so ignorant about money. I have some questions.

1. Why would the Federal Reserve loan out 16 trillion and make no profit, set no interest? What is the motive? Are they simply giving money to their fellow cronies in the PTB? Do they plan to foreclose other countries as they have pretty much foreclosed on the US?

2. The Federal Reserve is a private institution, obviously it does not serve the United States. Who controls and owns the Federal Reserve?

3. And why is the Federal Reserve using money to drive the US into a 3rd world economic status? Where is their bang for buck in that?

4. Does any other nation's Office of Printed Money give it away like that?

5. Do TPTB/nations pass around the control or source of wealth to each other? I mean ... why not if they have a motive. It is not as if they'd ever suffer the consequences of their own actions and maybe there is a point in shifting power from the US to China. And it is what has happened historically speaking ... so why? Why does it happen then?

6. Odd little question that won't shut up ... Remember after 9/11, the powers that be were practically begging consumers to go out and spend money. Why? Why ask consumers to support what they crashed? To hasten the fall?

Someone needs to connect the dots for me. As you can see, I am not one who understands money. Thanking you in advance you poor souls willing to educate me lol

Sierra

1- The Fed' Res' lent out the monies to themselves, no need to charge interest. Just a simple transfer!!

2- The Fed' Res' is owned & controlled by an international consortiom of "Banksters". Answers to no one.

3- The "Banksters" care neither for humanity, nation states, morality. They care only for their NWO
agenda......"CONTROL"

4- Other Nations do print money, which(I beleive) connects back to the Fed Res. Nations must have
permission to print money. I haven't seen other nations give away vast sums of money like that.
(need to research)

5- "CONTROL"........it's all about maintaining the status quo. Plus the PTB have other plans for
the USA, Canada & Mexico.

6- "ENGINEERING" everything we see happening in this world is engineered, ie, 911, world financial crash,
Iraq, Afganistan, wars. Middle East uprisings. The ONLY way they can achieve their stinking agenda is to
keep the masses asleep, by debt, fear, lying polititians. Hollywood, Rockstars, Sporting heros, blah, blah, blah!

nuff said TT

[Tane Mahuta]

Originally Posted by Snowbird

Our money, has no value.
Not to worry ... money has no value too here ... and everywhere where I look.

It has only value to those whole still believe in it.





It lost it's value when the gold standard was removed. All fiat currencies have no value. Backed by stupitity & greed!

TT

[Sierra]

You might remember what happened several years ago when they started mailing out those 'stimulus checks'. I think I got like $400, but others got a bit more. The idea was for people to go down to the walmart and buy stuff, but I think most people used it to pay the banker, which was equivalent to taking the checks and burning them. It doesn't help the bankers to pass out money unless that money results in more goods.

Hoisted on their own petards were they? Snort.

[Tane Mahuta]

Each country with foreign and domestic debt should default, default ,default - wipe the slate, start again.

Do this whole charade again ? ... no thanks :rolleyes:

Good start, well said Double Helix, you're on to it.


TT

[Sierra]

The biggest single beneficiary of the Fed’s bailouts was Citigroup, which received about $2.5 trillion in assistance. Several other top banks in the United States, including Bank of America and Morgan Stanley also benefited to the tune of trillions of dollars. British bank Barclays PLC took close to $1 trillion.

The GAO report suggested that the Fed should implement better policies to deal with conflicts of interest. Its policies on awarding contracts, record keeping and risk management should also be revised, the agency recommended.

The Fed’s chief lawyer responded by saying that the central bank would “strongly consider” the advice. But for now — following bailouts to a bank owned by Libyan dictator Muammar Gaddafi, blatant and widespread market manipulation, wild money printing, and secret bailouts larger than the U.S. economy — analysts expect outrage to continue growing. "

"... analysts expect outrage to continue growing."

No **** Sherlock.

[modwiz]

The whole world - default. Every loan, every credit card, every house payment, every car payment..........just default. Jubilee in action.

Jubilee.........that is brilliant.

[onawah]

And no, it's not just Bernie Sanders behind all this, as someone on another forum suggested.

And Sanders demonstrated a marked naivete about the Fed; as the New American journalist wrote:
"All of the disclosures have fueled a growing anti-Fed movement aiming to eventually abolish the central bank - essentially a sort of banking cartel with private shareholders but some veneer of government oversight. Sen. Sanders suggested in his public statement, however, that the institution should merely be “reformed” to serve "working families" and not just Wall Street CEOs.
'No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president,' he noted in the statement, perhaps not realizing that the Fed, by its own admission, is not an agency of the government.

Re the pdf document, (according to New American at:
http://www.thenewamerican.com/economy/markets-mainmenu-45/8313-fed-audit-trillions-for-foreign-banks-conflicts-of-interest )

"The 266-page report, produced by Congress’s non-partisan investigative service known as the Government Accountability Office (GAO), has already sparked intense outrage since its release on July 21."

See the 266 page report at:
http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

[ghostrider]

how bout the CCIA. citizens central intelligence agency. we have to get the upper hand on those greedy ego maniacs or they will continue to crush hummanity and blame each other.

[Karma Ngedom]

For Sierra and all others like me, that don´t understand.... Hope it helps a bit..


http://www.youtube.com/watch?v=gLBE5QAYXp8


just something to remember...:peep:

[Sierra]

The whole world - default. Every loan, every credit card, every house payment, every car payment..........just default. Jubilee in action.

Word. If their power is in money, and the money doesn't flow...

[Sierra]

For Sierra and all others like me, that don´t understand.... Hope it helps a bit..

Thank you, that was quite the eye opener Karma. They need us to consume. The system falls apart if we don't consume.

[MargueriteBee]

And, WE are supposed to pay back the 16 trillion to the Fed?

[Carmody]

In the end, none of this means anything with regard to prevention..as the genetic traits that allow such people of low empathy to rise or come into being will still be fully in place.

It is inevitable that it will happen again.

A hard truth that few are willing to face is that to prevent this from ever happening again: such genetics among the peoples of the human race -----must cease to exist.

Have fun wrestling with that dilemma.

For the first time in known human history, we are now capable of testing people's wiring for the true depths of empathy ---or a lack of it.

I wonder what all that means?

[WhiteFeather]

The reason why the trillions are overseas etc, Is Simply Because all of the corrupted government officials/Banksters/lobbyists/crooks etc. have their bank accounts conveniently situated in different countries throughout the world. Doesn't this make sense as to why its leaving The USA?. Why would they leave their nest eggs here? Hiding it somewhere else, till there damn good and ready to retire, resign or get the boot. Its time for arrests to be made IMMEDIATELY, its long past over due.

[Sierra]

In the end, none of this means anything with regard to prevention..as the genetic traits that allow such people of low empathy to rise or come into being will still be fully in place.

It is inevitable that it will happen again.

A hard truth that few are willing to face is that to prevent this from ever happening again: such genetics among the peoples of the human race -----must cease to exist.

Have fun wrestling with that dilemma.

For the first time in known human history, we are now capable of testing people's wiring for the true depths of empathy ---or a lack of it.

I wonder what all that means?

I can see two ways to look at it ... Either we are developing the ability spiritually, and can see for ourselves the empathy within another person or ... we are developing the mechanical tools to expose someone's empathy level, without spiritual discernment. Now that opens a whole other can of worms, similar to the HAARP synthetic telepathy that does not require an open and loving heart either and I don't believe they are doing good things with it do I Precious ...

I for one hope those of low empathy will inevitably incarnate elsewhere after the shift.

[Enquiring1]

Unlike the sun and earth the economy is not real.

Its just an idea.

All we need to do is to collectivley abandon this idea.

Oh if it was that simple!

[Carmody]

Unlike the sun and earth the economy is not real.

Its just an idea.

All we need to do is to collectively abandon this idea.

Oh if it was that simple!

It is like leaving your partner.

Simply..... walk out the door.

As the Buddhists and others say: "Seek detachment".


Humans, as separated and unaware dualities, always make things more complicated than they need to be.

In order to walk, the legs and feet need to work in synchronicity with the body.

In order to get past this effectively, the spirit and the mind need to work together in a state of single awareness.

Part of the problem is the residual aspect of living in reflection, instead of in the singular state of being. Too much left brain (linear-time oriented) not enough right brain (creative, non-linear, non-time).

[Aurelius]

The whole world - default. Every loan, every credit card, every house payment, every car payment..........just default. Jubilee in action.

sounds good!! .. were there any conditions with the loans? ie. was collateral put up? ..in the form of land, natural resources, bullion etc. etc.

[ghostrider]

you could make everyone in the US over 18 a millionaire and it would be less than 800 billion.

[Lord Sidious]

With this in mind, we all need to understand that the trillions that have been doled out, have no value.
Ah, but they do have value. They don't cost the Federal Reserve anything to create, that's true.

But they are both a credit and a debt.

They can be used to purchase things and to make payments on existing debt and taxes.

And they are a debt. They are not a debt that can reasonably be expected to be paid back in full, but they are a debt that can be used to extort the borrower.

It's a grand entangled spider web of interlocking debt, like the securitized mortgage debts of the last decade, but on a much bigger scale.

Someone is no doubt planning to make out like a bandit (and a tyrant) when this web comes unraveled.

My guess is that they're planning to move the dominant center of power from the US to China, with perhaps an intermediate sized war, but not a civilization destroying war.

Even worse than that, if you use THEIR credit note to purchase anything, who really owns that item?
You?
Or the owner of that currency?
In contract law, one of the things required for clean title is mutual consideration.
How can you give consideration to the vendor when he gets a note that is not yours and has no intrinsic value?

[enfoldedblue]

I can't believe this story has managed to remain under the radar. When I saw this story before going to bed the other day I thought by morning it would be everywhere. But no. Now a few days later…and hardly a peep anywhere. Unbelievable!!

[Hughe]

I captured the original report page in pdf format. The table below indicates $12.5 trillion. Other $3.5 trillion is probably included in the context.