By Unelected.org
24 July, 2011
Unelected.org
Unelected.org
Click on the image for a larger picture
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, 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.
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 can be stopped with five dollars worth of bullets.
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 places
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):http://www.gao.gov/new.items/d11696.pdf
Source: 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
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
Comments are not moderated. Please be responsible and civil in your postings and stay within the topic discussed in the article too. If you find inappropriate comments, just Flag (Report) them and they will move into moderation que.
I'm sorry. I made a slight error. You can find more info about the UNITED STATES OF AMERICA, INCORPORATED in Title 28 3002 Sections 15A, B, and C. All imposed licenses are adhesion contracts. They are forced upon us by coercion. WE are told that we MUST have them. But we are never told the full disclosure of their meaning. THE CORPORATION bundles our initial adhesion contracts, our birth certificates, into bundles of 100,000 and sells them on Dunn and Bradstreet. THE CORPORATION considers our humanity to be their product. Our initial enslavement to these monstrous enemies of mankind comes before we are even born! Look at your marriage licenses! ALL PRODUCTS OF THIS UNION SHALL BECOME PROPERTY OF THE STATE! They consider humanity to be their product!
Believe me, the farther you go down this rabbit hole, the sicker it all gets! KNOW YOUR ENEMIES, AMERICA! THEY ARE THE ONES WHO BELIEVE THAT THEY HAVE EXCLUSIVE OWNERSHIP RIGHTS TO ALL OF US, OUR PROPERTY, AND TO ALL OF OUR POSTERITY!
Believe me, the farther you go down this rabbit hole, the sicker it all gets! KNOW YOUR ENEMIES, AMERICA! THEY ARE THE ONES WHO BELIEVE THAT THEY HAVE EXCLUSIVE OWNERSHIP RIGHTS TO ALL OF US, OUR PROPERTY, AND TO ALL OF OUR POSTERITY!
THE UNITED STATES, INC. Title 28 3002 Sections 15, B, and C is as criminal as it's banking masters. In 1871, only three congressmen were present, during a Christmas Holiday, when the financial coupe of our nation occurred. The incorporation of our nation WAS NEVER RATIFIED! But three congressmen were able to pull off this coupe, without hindrance back then. Since that time, every single city, county, state, and courthouse, in this nation, has been unlawfully incorporated. Since that time, 60 million UCC1, Universal commercial Codes, have been brought into play against the American People.These are not laws.They are corporate rules that have been unConstitutionally used to steal our freedoms and our Prosperity!
If you want to know the truth, with all the ugly details of what the FEDERAL RESERVE, INC. really is, who owns it, and how it's owners were able to trick the greatest military on Earth, into following their rules, instead of the People's Law, The Constitution, go tohttp://dev.republicoftheunitedstates.org/
You will not like what you will learn there. You may actually become violently sick to your stomachs, as you read the truths that The newly reseated Republic for The united States of America brings forward, here. But please understand, "We also have the remedies for all of these heinous crimes that have been committed against our nation!" We have the knowledge, the power, and the right to bring this nation back to the Common Law of God and man, on Earth.
Research adhesion contracts. Then get a look at the micro print lines on your checks, your birth certificates, your driver's licenses, .your mortgages, and the flags with gold tassles and fringe that hang in your courthouses and government offices. THESE FLAGS ARE NOT CEREMONIAL. They indicate the unConstitutional act of imposing Maritime Law upon the land and the use of UCC1 codes to govern all of our lives, unlawfully!
Know your enemies, my friends. And you will see that these oligarchical corporate parasites have been eating this country from the inside out, for 140 years! It is now time to TAKE IT BACK!
If you want to know the truth, with all the ugly details of what the FEDERAL RESERVE, INC. really is, who owns it, and how it's owners were able to trick the greatest military on Earth, into following their rules, instead of the People's Law, The Constitution, go tohttp://dev.republicoftheunitedstates.org/
You will not like what you will learn there. You may actually become violently sick to your stomachs, as you read the truths that The newly reseated Republic for The united States of America brings forward, here. But please understand, "We also have the remedies for all of these heinous crimes that have been committed against our nation!" We have the knowledge, the power, and the right to bring this nation back to the Common Law of God and man, on Earth.
Research adhesion contracts. Then get a look at the micro print lines on your checks, your birth certificates, your driver's licenses, .your mortgages, and the flags with gold tassles and fringe that hang in your courthouses and government offices. THESE FLAGS ARE NOT CEREMONIAL. They indicate the unConstitutional act of imposing Maritime Law upon the land and the use of UCC1 codes to govern all of our lives, unlawfully!
Know your enemies, my friends. And you will see that these oligarchical corporate parasites have been eating this country from the inside out, for 140 years! It is now time to TAKE IT BACK!
+1
Quote from the explanation of table 8:
"For example, an overnight
PDCF loan of $10 billion that was renewed daily at the same level for 30
business days would result in an aggregate amount borrowed of $300
billion although the institution, in effect, borrowed only $10 billion"
So the total amount borrowed looks like 16 trillion, but the real total was possibly a factor of 10 less than the aggregate total.
It behooves us to understand the actual numbers we are talking about before making apparently outrageous statements. I don't claim to understand anything more than the quote I found, but I only spent about 45 seconds finding the explanation, and it appears to me on first reading it that the total amount borrowed could be as low as 1.6 trillion (factor of 10 less).
"For example, an overnight
PDCF loan of $10 billion that was renewed daily at the same level for 30
business days would result in an aggregate amount borrowed of $300
billion although the institution, in effect, borrowed only $10 billion"
So the total amount borrowed looks like 16 trillion, but the real total was possibly a factor of 10 less than the aggregate total.
It behooves us to understand the actual numbers we are talking about before making apparently outrageous statements. I don't claim to understand anything more than the quote I found, but I only spent about 45 seconds finding the explanation, and it appears to me on first reading it that the total amount borrowed could be as low as 1.6 trillion (factor of 10 less).
+1
Holy ****. You guys have no ****ing clue what you're talking about. 1) These were loans, 2) The Fed didn't loan out $16 trillion all at once, this is the total sum of all the loans provided, 3) If this were to cause inflation, you would already have seen it, 4) This isn't money that "Americans have to pay", these are loans from the Feds existing asset base which consists largely of US Treasuries, 5) The Fed did not request the government to print money so it could buy treasuries to loan out, 6) The overnight window is used ALL the time to ensure a given bank has sufficient liquidity
+1
why can't people just read what's written in that report :
Page 130/131
Table 8: Institutions with Largest Total Transaction Amounts (Not Term-Adjusted) across Broad-Based Emergency Programs (Borrowing Aggregated by Parent Company and Includes Sponsored ABCP Conduits), December 1, 2007 through July 21, 2010
Table 8 aggregates total dollar transaction amounts by adding the total dollar amount of all loans but
does not adjust these amounts to reflect differences across programs in the term over which loans were outstanding. For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, borrowed only $10 billion over 30 days.
Page 132
Table 9: Institutions with Largest Total Term-Adjusted Borrowing across Broad-Based Emergency Programs, December 1,
2007 through July 21, 2010
So if one wants to find out how much the FED has given out to banks, the correct table is table 9, not table 8 (which just shows the amount of transactions, not the amount of borrowings).
Table 9 shows that the amount given out by the FED to banks over the period is $ 1.1 trillion, not the $16 trillion refered to in this article which is the amount of transactions.
1.1 trillion is still a very large amount, but is 16 times smaller than what this article is suggesting and perfectly in line with what the FED data reports and the bailouts as have been reported so far..
Sorry, no "secret bailout" here. Just an error from those who wrote this article at unelected.org who can't seem to be capable of reading a financial report!
Page 130/131
Table 8: Institutions with Largest Total Transaction Amounts (Not Term-Adjusted) across Broad-Based Emergency Programs (Borrowing Aggregated by Parent Company and Includes Sponsored ABCP Conduits), December 1, 2007 through July 21, 2010
Table 8 aggregates total dollar transaction amounts by adding the total dollar amount of all loans but
does not adjust these amounts to reflect differences across programs in the term over which loans were outstanding. For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, borrowed only $10 billion over 30 days.
Page 132
Table 9: Institutions with Largest Total Term-Adjusted Borrowing across Broad-Based Emergency Programs, December 1,
2007 through July 21, 2010
So if one wants to find out how much the FED has given out to banks, the correct table is table 9, not table 8 (which just shows the amount of transactions, not the amount of borrowings).
Table 9 shows that the amount given out by the FED to banks over the period is $ 1.1 trillion, not the $16 trillion refered to in this article which is the amount of transactions.
1.1 trillion is still a very large amount, but is 16 times smaller than what this article is suggesting and perfectly in line with what the FED data reports and the bailouts as have been reported so far..
Sorry, no "secret bailout" here. Just an error from those who wrote this article at unelected.org who can't seem to be capable of reading a financial report!
Shocking - about 30% of world GDP, and Americans have to pay. Can there be any hope of recovery?
+2
This isn't the total amount of loans but the total amount of transactions. For instance if a bank receives a PDCF overnight loan of 10 billion and renews it for 30 days, transactions will be 300 billion, but the amount of money loaned will still be 10 billion for 30 days.
The total amount of loans is given on the next table of same report, Table 9 (p.132) = 1 139 billion and not 16 trillion
Just a factor 16 error!
Why can't people read a report before they publish this kind of nonsense on the internet?
I mean, total assets of the FED is 2.88 trillion, how would anybody think that they've hidden 14 extra trillions of loans?
The total amount of loans is given on the next table of same report, Table 9 (p.132) = 1 139 billion and not 16 trillion
Just a factor 16 error!
Why can't people read a report before they publish this kind of nonsense on the internet?
I mean, total assets of the FED is 2.88 trillion, how would anybody think that they've hidden 14 extra trillions of loans?
+1
Try reading Table 9 in the report as compared to Table 8, which is posted in the article. Then you'll see how wrong the article is. Nothing like taking something out of context to rile the non-thinkers.
0
It seems there is no one in Washington who know what they are doing! We need to throw the leaches out and
start over. They have no interest in the people who voted them into office to represent us. We need someone
in there who can add and substract and who don't pocket a share from every deal they make. There is no
excuse for this terrible predictament we are in. God help us! The worse it gets the more Obama and Michelle
spend and flaunt it at our expense.
start over. They have no interest in the people who voted them into office to represent us. We need someone
in there who can add and substract and who don't pocket a share from every deal they make. There is no
excuse for this terrible predictament we are in. God help us! The worse it gets the more Obama and Michelle
spend and flaunt it at our expense.
+2
Surprised that there no Guillotines, being built on the streets of the US, its been done before you know, quite successfully, and for a while the ordinary folk ran their country for the benefit of all, but things changed, so maybe we should also start building.
+1
The Bank of England began as a branch of the Bank of Rome. The FED functions as a branch of the Bank of England. Auditing the Rothschilds and Jesuit/Vatican banks would reveal sufficient wrongdoing to justify confiscating their assets. Or, we can allow them to create Hell on Earth.
+1
We've been seeing inflation for decades. Wake up. It's only gonna get worse.
If this article is correct, it looks like the Federal Reserve is not only manufacturing money out of nothing, but they're buying off all the major banks and money making institutions. Anyone else out there just a wee bit upset about this?
0
http://books.google.com/books?id=m82jozV3Qw4C&...
Read Chapter 9 in its integral. As the chapter closes you will notice that at the time America has the only asset that really matters oil.
When those who have oil and energy now discover that money is printed by Ivy League Educated minions who have no more expertise than the average 'trigger puller' in the various branches of our Nuclear Army will this expertise still have value?
I am sorry my fellow Americans but the best thing that has happened in the last twenty years is the combination of Chinese Labor and Chinese Coal. Pax Americana needs to be counter balanced or we will all sink in to the Fed's green cesspool of funny green money!
Money is only held as a medium of exchange. If Americans have nothing but services, expertise, and nuclear weapons to exchange in terms of the tangible we will not continue forever to pass worthless currency on to others for real assets and materials.
The moral implications of this theft should cause every American to blush and hide his face in disgrace.
Read Chapter 9 in its integral. As the chapter closes you will notice that at the time America has the only asset that really matters oil.
When those who have oil and energy now discover that money is printed by Ivy League Educated minions who have no more expertise than the average 'trigger puller' in the various branches of our Nuclear Army will this expertise still have value?
I am sorry my fellow Americans but the best thing that has happened in the last twenty years is the combination of Chinese Labor and Chinese Coal. Pax Americana needs to be counter balanced or we will all sink in to the Fed's green cesspool of funny green money!
Money is only held as a medium of exchange. If Americans have nothing but services, expertise, and nuclear weapons to exchange in terms of the tangible we will not continue forever to pass worthless currency on to others for real assets and materials.
The moral implications of this theft should cause every American to blush and hide his face in disgrace.
+4
We need another boston tea party, throw all the politicians into the bay and start over, allow no lawyers, maybe we can get some people in there that don't think they need to get paid for doing nothing, even worse continue to get paid after they leave for doing less than nothing. too bad for boston though, no fishing for years to come in the contaminated waters.
+5
hope this is not true, but if it is....I demand that this money gets paid back to our treasury immediately. I will be writing the president, our senators and representatives. If these fine upstanding companies and banks cannot immediately pay back these loans, no more of this 0.00% interest rate crap. They should be paying the same rates as we would if we borrow money from them.
Fat chance huh,,,,, lol...or is it col,,,,,,, cry out loud.
Fat chance huh,,,,, lol...or is it col,,,,,,, cry out loud.
The economy is in trouble and Ron Paul is right. Did anyone hear the funny story about his gold standard??? http://milkthebull.com/2011/05/16/ron-pauls-campa...
+7
"all over the world
cats make friends with cats
nowhere do cats make friends with mice..."
Mao
cats make friends with cats
nowhere do cats make friends with mice..."
Mao
0
No one can print 16 trillion dollars and hand it out in the form of loans and hope that there is systemic change. That was 16 trillion that went to a nuclear powered world be it nuclear weapons or nuclear electrification.
Money is a fiction but 16 trillion units of anything even if it is imaginary means that labor has been concentrated in the status quo of oil and gas, nuclear weapons, standing armies, population expansion, and bombardments via ad campaigns that will continue to propagandize even the new born.
"they will have to face the realization that their trillion dollar printing presses can be stopped with five dollars worth of bullets."
Even if it is shocking to find out that we are all at the mercy of bankers and standing armies, as reveled in this article, should we start talking about Jethro pass me down some ammo?
Personally I am no urban warrior. The 16 trillion buys two thing obedience and silence as the system, the man and Pax Americanorum continue to grind along. The problem with this report is the Chinese banks have received little or none of these phantom dollars. The Brazilian banks have none of these heaps of trash in their electronic vaults. King Saud none of these demonic dollars to burn in his vainglorious bonfires as he watches over Mecca but he must exchange real wealth, black gold, for this trash that has come straight off the infidels red hot printing press.
It is shocking indeed that in the modern world Americans and Europeans are still playing trickle down economics with the Third World. The reason this audit never should have been done is clear we have not left the age of Mercantilisam!
The fair races run printing press while the brutes of the world mine for oil, gold, steel. We have not left the old world that was built upon the ideal that the Europeans supply the ideals and the slaves of the world supply all that is real like labor and material!
If you look at this and say it is only that the rich are getting richer and the poor are getting poorer in America you are a damn fool! The poor in America are party to this plunder. We are the bodies and the souls that populate America's mammoth standing army which is the only assets America has to under write all of this junk bond style paper with falls off the American Printing Press in heaps of scummy, sticky, stinking green trash.
There will be a back lash for this revelation. It was ok when the every head of state knew this was going on one could walk the land spending this green trash but when the people of China hear of this will they willingly accept dollars?
The down fall of every great empire is when the people want to stand with the Tin Man, The Lion, The Scarecrow, and pretty ignorant little Dorthy and rip down the curtain that hides the wizards marvelous machine!
Now that the world knows that all boats float, small and great, on rivers and oceans of this green trash how do we get the folk world over to keep exchanging their labor, lives, and material for green trash?
Someone had better find some new form of non toxic energy fast that can lift all the boats out of this green swamp fast.
Money is a fiction but 16 trillion units of anything even if it is imaginary means that labor has been concentrated in the status quo of oil and gas, nuclear weapons, standing armies, population expansion, and bombardments via ad campaigns that will continue to propagandize even the new born.
"they will have to face the realization that their trillion dollar printing presses can be stopped with five dollars worth of bullets."
Even if it is shocking to find out that we are all at the mercy of bankers and standing armies, as reveled in this article, should we start talking about Jethro pass me down some ammo?
Personally I am no urban warrior. The 16 trillion buys two thing obedience and silence as the system, the man and Pax Americanorum continue to grind along. The problem with this report is the Chinese banks have received little or none of these phantom dollars. The Brazilian banks have none of these heaps of trash in their electronic vaults. King Saud none of these demonic dollars to burn in his vainglorious bonfires as he watches over Mecca but he must exchange real wealth, black gold, for this trash that has come straight off the infidels red hot printing press.
It is shocking indeed that in the modern world Americans and Europeans are still playing trickle down economics with the Third World. The reason this audit never should have been done is clear we have not left the age of Mercantilisam!
The fair races run printing press while the brutes of the world mine for oil, gold, steel. We have not left the old world that was built upon the ideal that the Europeans supply the ideals and the slaves of the world supply all that is real like labor and material!
If you look at this and say it is only that the rich are getting richer and the poor are getting poorer in America you are a damn fool! The poor in America are party to this plunder. We are the bodies and the souls that populate America's mammoth standing army which is the only assets America has to under write all of this junk bond style paper with falls off the American Printing Press in heaps of scummy, sticky, stinking green trash.
There will be a back lash for this revelation. It was ok when the every head of state knew this was going on one could walk the land spending this green trash but when the people of China hear of this will they willingly accept dollars?
The down fall of every great empire is when the people want to stand with the Tin Man, The Lion, The Scarecrow, and pretty ignorant little Dorthy and rip down the curtain that hides the wizards marvelous machine!
Now that the world knows that all boats float, small and great, on rivers and oceans of this green trash how do we get the folk world over to keep exchanging their labor, lives, and material for green trash?
Someone had better find some new form of non toxic energy fast that can lift all the boats out of this green swamp fast.
No comments:
Post a Comment