First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!

truther 45

Sott

Rep. Ron Paul (R-Tex.) wins (again) the most significant victory of his congressional career. He has taken his pet issue since the 1970s–the unwarranted power and secrecy of the Federal Reserve–from something pretty much no one but him cared about six years ago, through a bestselling book and mass movement by 2009, the second time he’s gotten the House of Representatives to vote to widen the government’s powers to audit the Fed’s activities.

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.

Bernanke

© The Silver Bear Cafe

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.

YouTube Preview Image


Please Donate Now

Please note that if you wish to make any amount of contribution to us, you can send it to us using Paypal ID info@pakalertpress.com.

Support Pakalert to keep alive

 

Related Articles:

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

Enter Your Mail Address

Incoming search terms:

Share

Add To The Conversation Using Facebook Comments

45 Comments »

  1. Michael Rosmer September 28, 2012 at 6:50 am - Reply

    Unfortunately, this $16 trillion is pretty out of context and makes people arguably unjustifiably angry. If a person reads the report (http://www.sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf) they’ll find there was never $16 trillion lent out. Over half of that (nearly $9 trillion) for example were in overnight loans that were recaculated daily. In other words if I lent you $1000 for 10 days it would be recorded as $10 000, put in context therefore the suppose $2 trillion lent to Citigroup is really only $10 billion lent out for 200 days. Those are the overnight loans, then you’ve got the TAF loans, which were 1 month loans, same principle applies but recalculated monthly rather than daily. Then there’s the TALF and AMLF loans that were intermediary loans and thus as the report states can’t be factored into the total. It’s worthwhile to read the actual report and understand the context before rushing to conclusions, and never a good idea to try and learn economics from a news source.

  2. ha September 25, 2012 at 7:04 pm - Reply

    ‘while americans struggled to find jobs’ ? americans did not have any problems while their banks were creating water vapor ‘assets’ to peddle to entire world, so much that they created 600 units of ‘investment assets’ indexed to just 1 unit of real mortgage based asset. americans were quite comfortable enjoying the fake money that generated. and now, when its payback time, its the problem ? enjoy.

  3. Mike88 September 21, 2012 at 9:34 am - Reply

    Sadly, what most of the people don’t realize and should be storming both the Federal Reserve as well as the Congress and Senate building in anger is that for every dollar the Federal Reserve prints, it is the American Taxpayer who is ultimately responsible for paying this money back -plus all of the Interest on this Borrowed money, no matter to who or what Entity, Bank, Corporation, or person this money is Loaned to.
    This means all of that $16,000,000,000,000,00 that was loaned out to Foreign Bankers and Foreign Companies as well as American Companies, by law, it is the American Taxpayers that are on the hook for every penny of this money plus all of the Interest money to boot. That is why I say the American people should be so outraged and up in arms that they Storm the Federal Reserve, the House of Representatives, and the Senate Building, and physically remove Ben Bernake, Obama, all of our Representatives and all,of our Senators who have allowed this fraud against the American people to go this long.
    Then the American people should hold Trials for these Politicians and Federal Reserve Employees and after finding them guilty for fraud, corruption, and a long list of other assorted crimes against the American people, figure a way to never allow this type of fraud to ever happen again, as well as the appropriate Punishment for these people. We definitely could not just give them a Fine,as that would teach them nothing, a Prison term would also have to be in order or worse.
    But I must say that $16,000,000,000,000,00 is a drop in the bucket compared to all of the money the Federal Reserve has loaned out through out it’s inception since 1913 as the so-called “Lender of Last Resort, New York City was bailed out many years ago, as well as most of our Railroad Companies and many of the Banks in our nations past has been bailed out as well.

  4. edwin doherty September 9, 2012 at 12:45 pm - Reply

    AS A BUDDHIST I ACCEPT THAT WE CREATE OUR OWN REALITY.

    WHAT ARE THE JEWISH FOLKS CREATING FOR THEMSELVES ?

  5. stonecatcher September 8, 2012 at 5:30 am - Reply
  6. stonecatcher September 8, 2012 at 5:29 am - Reply

    I n response to Cal–yes there was an earlier report which also discussed another $10 trillion in connection to some sort of derivative collateral pool? So, closer closer to Katherine Fitts $27 trillion as discussed in this interview [discussing financial coup d'etat]. Also, Look at the US government CAFR reports: http://www.fms.treas.gov/fr/backissues.html

  7. Ken Brodeur September 6, 2012 at 9:58 pm - Reply

    What is an audit if it does not include EVERYTHING! The CIA is funded directly from the FED without congressional oversight and not mentioned in this article. What about the "off the books" accounting? The next time the IRS wants to know about my funds I will point them to my near empty bank account and tell them everything else is "off the books".

  8. Ken Brodeur September 6, 2012 at 9:58 pm - Reply

    What is an audit if it does not include EVERYTHING! The CIA is funded directly from the FED without congressional oversight and not mentioned in this article. What about the "off the books" accounting? The next time the IRS wants to know about my funds I will point them to my near empty bank account and tell them everything else is "off the books".

  9. Ken Brodeur September 6, 2012 at 9:58 pm - Reply

    What is an audit if it does not include EVERYTHING! The CIA is funded directly from the FED without congressional oversight and not mentioned in this article. What about the "off the books" accounting? The next time the IRS wants to know about my funds I will point them to my near empty bank account and tell them everything else is "off the books".

  10. Ken Brodeur September 6, 2012 at 9:58 pm - Reply

    What is an audit if it does not include EVERYTHING! The CIA is funded directly from the FED without congressional oversight and not mentioned in this article. What about the "off the books" accounting? The next time the IRS wants to know about my funds I will point them to my near empty bank account and tell them everything else is "off the books".

  11. Cal September 7, 2012 at 3:14 am - Reply

    This is NOT new stuff. This is what was discovered 2 years or so ago in the partial audit. Why is it being posted as if it was NEW?

    What is being covered up? Why didn’t anyone else reading this recognize this released information as the partial audit done before?

  12. JennieWalsh September 7, 2012 at 2:48 am - Reply

    It is high time that the global organized crime cartel, the international bankster-gangsters, the shadow power-elite government, the Federal Reserve and the IRS are overthrown BEFORE they completely impoverish and destroy America and every nation. Vote for Ron Paul for president. He and Gary Johnson both want to restore HONEST constitutional government and HONEST legal money to America.

  13. Hugh Mann September 6, 2012 at 6:18 pm - Reply

    16 trillion dollars of worthless, fiat, monopoly money. When you can print all the money you need how much is it really worth?

  14. Randall Covey September 6, 2012 at 6:03 am - Reply

    Makes me wonder just how many trillions I'll be left holding the bag for… at the point of a gun, no less.

  15. Randall Covey September 6, 2012 at 6:03 am - Reply

    Makes me wonder just how many trillions I'll be left holding the bag for… at the point of a gun, no less.

  16. Randall Covey September 6, 2012 at 6:03 am - Reply

    Makes me wonder just how many trillions I'll be left holding the bag for… at the point of a gun, no less.

  17. Randall Covey September 6, 2012 at 6:03 am - Reply

    Makes me wonder just how many trillions I'll be left holding the bag for… at the point of a gun, no less.

  18. rtaylortitle September 6, 2012 at 11:23 am - Reply

    This is an incredible story and should be broadcast to the American public, but the mass media (corporate controlled shills…no objectivity) will never do it. And people wonder why the dollar buys lesss and less. The CEO’s and their Boards of Directors should be literally tarred and feathered. This is a mafia in control of the dollar currency. They all should be sued under the RICO act!!!!

    • Dan Mac September 6, 2012 at 8:51 pm - Reply

      when televisions fly…

  19. Juan Viche September 6, 2012 at 3:05 am - Reply
  20. Juan Viche September 6, 2012 at 3:05 am - Reply
  21. Juan Viche September 6, 2012 at 3:05 am - Reply
  22. Juan Viche September 6, 2012 at 3:05 am - Reply
  23. Jim Haynes September 5, 2012 at 2:26 pm - Reply

    John, have you ever given any thought as who the Illuminati answers to? I have my theories which borderlines fiction, but again truth is stranger then fiction.

  24. Jim Haynes September 5, 2012 at 2:26 pm - Reply

    John, have you ever given any thought as who the Illuminati answers to? I have my theories which borderlines fiction, but again truth is stranger then fiction.

  25. Jim Haynes September 5, 2012 at 2:26 pm - Reply

    John, have you ever given any thought as who the Illuminati answers to? I have my theories which borderlines fiction, but again truth is stranger then fiction.

  26. Jim Haynes September 5, 2012 at 2:20 pm - Reply

    The curtain on our artificial feel good government is finally rising to reveal the black cesspool of the real government structure that treats citizens as property and nothing less. America is slowly coming out of the political dream state doldrums to come face to face with reality and not 24/7 propaganda. Don't stop America, this indeed is your last chance for freedom as spelled out in the Bill of Rights and the Constitution.

  27. Jim Haynes September 5, 2012 at 2:20 pm - Reply

    The curtain on our artificial feel good government is finally rising to reveal the black cesspool of the real government structure that treats citizens as property and nothing less. America is slowly coming out of the political dream state doldrums to come face to face with reality and not 24/7 propaganda. Don't stop America, this indeed is your last chance for freedom as spelled out in the Bill of Rights and the Constitution.

  28. Jim Haynes September 5, 2012 at 2:20 pm - Reply

    The curtain on our artificial feel good government is finally rising to reveal the black cesspool of the real government structure that treats citizens as property and nothing less. America is slowly coming out of the political dream state doldrums to come face to face with reality and not 24/7 propaganda. Don't stop America, this indeed is your last chance for freedom as spelled out in the Bill of Rights and the Constitution.

  29. Jim Haynes September 5, 2012 at 2:20 pm - Reply

    The curtain on our artificial feel good government is finally rising to reveal the black cesspool of the real government structure that treats citizens as property and nothing less. America is slowly coming out of the political dream state doldrums to come face to face with reality and not 24/7 propaganda. Don't stop America, this indeed is your last chance for freedom as spelled out in the Bill of Rights and the Constitution.

  30. Ritm September 5, 2012 at 2:32 pm - Reply

    Job makes you slave by default. (Even if you’re doctor of medicine, you’re just helping Big Pharma selling their pills.) Why then complaining what your master doing with his money is beyond…

    • Dan Mac September 6, 2012 at 8:47 pm - Reply

      You speak truth, but you could speak more. We would do well to hear the continuation of your thoughts. “beyond….”

  31. Teresa Phillips September 5, 2012 at 7:35 am - Reply

    I do applaud the honesty of this article. A question would remain however, the date of this release. Could this be a whistle-blower account before the audit that Ron Paul wanted? I do know that he finally got it through the House in November of last year, so why is the dating wrong on this document? More is going on here than meets the eye!

    • Dan Mac September 6, 2012 at 8:18 pm - Reply

      This “partial audit” came after Ron Paul’s first “Audit the Fed” bill was passed, a few years ago, but only in a watered down version. Thus this news is very outdated. It should have been stated, the current bill (which overwhelmingly passed in the House of Reps, again) is now in the senate. Hopefully it won’t get watered down like last time–so congress at least, if not the American people, might get the chance to see a full audit. The 16 Trillion outrage illustrated in the partial audit a few years back was only the tip of an iceberg so fantastic it humbles the wildest conspiracy theories. But don’t expect the public to be outraged. They will be busy watching the series of stupor bowls and fake elections. Why did you not know this? Huxley’s Brave New World is already here. The happy slaves will believe they are free until death. The basic hope is that for some of us that death will be a paradigm death only, and realizing we are slaves, we may begin to fight for freedom…or make an escape. The greatest hope is in knowing and remembering always, Love Conquers All. Love the enemy. Love the sheep. Love the battle, the adventure, and this epic life you are living. Even one pebble kicked by the smallest person can alter the course of history.

  32. John J Facino Sr September 4, 2012 at 7:44 pm - Reply

    Wake Up Americans! The Robber Barions have been raping us for over 214 YEARS. Now they are ready to finally initiate the "One World Government". These evil persons and the final Evil Person is ready to now totally enslave us. Obama has signed an executive order to demonize us military and retired and disabled veterans as 'MENTALLY ILL". This will allow him to declare Marshall Law this November Up to inaugeration day to take over the nation as it's Dictator (with the help of the CFR & Federal Reserve–Illuminnati with foreign troops) and the United States of America will be no more. Jews and Christians will be set out to be slaughtered by the Muslims and their Sharia Law and Allah Religion. This saves the Illuminati the from the task of destroying any signs of any other religion but Muslim. Christ Jesus is our only hope for any kind of protection and salvation. It may be act now on this or face it all on your own.

  33. John J Facino Sr September 4, 2012 at 7:44 pm - Reply

    Wake Up Americans! The Robber Barions have been raping us for over 214 YEARS. Now they are ready to finally initiate the "One World Government". These evil persons and the final Evil Person is ready to now totally enslave us. Obama has signed an executive order to demonize us military and retired and disabled veterans as 'MENTALLY ILL". This will allow him to declare Marshall Law this November Up to inaugeration day to take over the nation as it's Dictator (with the help of the CFR & Federal Reserve–Illuminnati with foreign troops) and the United States of America will be no more. Jews and Christians will be set out to be slaughtered by the Muslims and their Sharia Law and Allah Religion. This saves the Illuminati the from the task of destroying any signs of any other religion but Muslim. Christ Jesus is our only hope for any kind of protection and salvation. It may be act now on this or face it all on your own.

  34. John J Facino Sr September 4, 2012 at 7:44 pm - Reply

    Wake Up Americans! The Robber Barions have been raping us for over 214 YEARS. Now they are ready to finally initiate the "One World Government". These evil persons and the final Evil Person is ready to now totally enslave us. Obama has signed an executive order to demonize us military and retired and disabled veterans as 'MENTALLY ILL". This will allow him to declare Marshall Law this November Up to inaugeration day to take over the nation as it's Dictator (with the help of the CFR & Federal Reserve–Illuminnati with foreign troops) and the United States of America will be no more. Jews and Christians will be set out to be slaughtered by the Muslims and their Sharia Law and Allah Religion. This saves the Illuminati the from the task of destroying any signs of any other religion but Muslim. Christ Jesus is our only hope for any kind of protection and salvation. It may be act now on this or face it all on your own.

  35. John J Facino Sr September 4, 2012 at 7:44 pm - Reply

    Wake Up Americans! The Robber Barions have been raping us for over 214 YEARS. Now they are ready to finally initiate the "One World Government". These evil persons and the final Evil Person is ready to now totally enslave us. Obama has signed an executive order to demonize us military and retired and disabled veterans as 'MENTALLY ILL". This will allow him to declare Marshall Law this November Up to inaugeration day to take over the nation as it's Dictator (with the help of the CFR & Federal Reserve–Illuminnati with foreign troops) and the United States of America will be no more. Jews and Christians will be set out to be slaughtered by the Muslims and their Sharia Law and Allah Religion. This saves the Illuminati the from the task of destroying any signs of any other religion but Muslim. Christ Jesus is our only hope for any kind of protection and salvation. It may be act now on this or face it all on your own.

    • Jim Haynes September 5, 2012 at 2:26 pm - Reply

      John, have you ever given any thought as who the Illuminati answers to? I have my theories which borderlines fiction, but again truth is stranger then fiction.

      • Dan Mac September 6, 2012 at 8:42 pm - Reply

        The Illuminati answers to The Great Mirror of All. While ever it seeks to manipulate The Shadow Beast, ever It is manipulated by The Shadow beast. Who do you answer to? Self? God? The Illumination? The Shadow? If you answer to me you must realize we are far beyond the borders of fiction and fully immersed in the most epic fantasy ever imagined. Yet it is far more real than the watered down version taught in public schools and broadcast via mass television programming. We live in a Mythic Reality. We all have the Creative Power to transform our world. We are all Illuminati. We are all Illuminati slaves. We are all Freedom Warriors. Now is the moment, as every moment, to make what we will of all that has been made.

  36. jGranger September 5, 2012 at 12:28 am - Reply

    this data was released a year ago

Leave A Response »