Huffington Post with details about the vote , and on Paul’s Democratic ally equally upset with the Fed’s lack of transparency, Rep. Dennis Kucinich (D-Ohio):
In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.
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 LEFT), 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 131of 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 places
View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):
Federal Reserve Chairman Ben S. Bernanke participated in a live webcast of a town hall meeting with educators on Thursday, September 30, 2010 from 2:30–3:30 p.m. EDT. During this session, Chairman Bernanke answered teachers’ questions about the Federal Reserve and the economy.
WASP adds None of this is any Surprise if you have been Paying Attention whilst following the Story. This adds even more to Fulford’s Credibility, which is constantly being brought into question. The Whole Financial System is run by ‘MICKEY MOUSE MERCHANTS’,with Governments that allow them to Print DISNEY LAND MONEY – This must be so because The ASEAN refuse to accept Dollars or Sterling.
The IMF is BANKRUPT. AMERICA IS BORROWING MONEY TO PERSUE THE WAR IN AFGHANISTAN,THE CRAZIES ESCAPED LONG AGO TO TAKE OVER, BUT NO ONE NOTICED. They only care about one thing, & that is Personal Profit, those at the top are not interested in our Country, & that Includes the Royals. You only have to look at their Treasonous Record of Betrayals of The British People to Realise that. The greatest insult was when ER2 signed our Country over to The Globalists. assisted by her ‘PUPPETS’, one in-particular, was BLAIRS DOLLY BIRD FLINT,A totally useless 8INT, just take a look at her Record as a Minister, if you don’t believe me. & then who did they find to replace her, none other than a Total Nonentity Cathy Ashton “Baroness”, totally in their pockets, & as one Smart MP remarked, A FIRST YEAR MEDICAL INTERNEE KNOWS MORE ABOUT EUROPEAN POLICY THAN SHE DOES! IT ALL ADDS TO A TOTAL BETRAYAL OF THE BRITISH PEOPLE, but only a few are able to see through the ‘Smoke’ & not look into The ‘Mirrors of Deception’.
It was necessary for PERSEUS not to look directly at at MEDUSA, when carrying out the act of Decapitation, for fear of being Turned to Stone – I Fear All those we Elect, To cut off the the Head of The Monsters Destroying Our Country, ( The Corporate Banking System), suffer from the same fete that would have befallen PERSEUS, had the GODS not helped him. Either that or they have been captivated, by the once said to be beautiful maiden,( BANKS & CORPORATE ENTERPRISES), & not noticed that there has been a Transformation, & The BANKSTERS aren’t what they appear to be To quote Euripides “Those Whom The Gods Wish to Destroy They First Make Mad.”
NEED I SAY MORE.
I’ve got an e-Mail in progress, which I will send tomorrow. Here is a Link that might bring this Point Home to The Brain Dead:- Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming Link:- http://theeconomiccollapseblog.com/archives/jacob-rothschild-john-paulson-and-george-soros-are-all-betting-that-financial-disaster-is-coming I am reading your excellent link Gordon, there is much useful information contained within, which exemplifies the Importance of Numerology. I would say for those expecting instant results, Life is Not Like That. there can only be an indication, nothing is absolute, it’s all down to probability, in the end. It is very naive to expect it to be any other way, as only a FOOL or a WISE MAN would make such a Prediction, & I Am Neither. REGARDS ……. WASP