Audit: Fed gave $16 trillion in emergency loans

OMG!! Thats an incredible amount of money!! And I wonder just
who they expect to pay that back

Here is a snippet from the article

The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government's first-ever audit of the central bank.

Last year, the gross domestic product of the entire U.S. economy was $14.5 trillion.

Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office's (GAO) analysis shows.

Here is the link

www.rawstory.com...

I have been listening to news and talk radio all day,not a word of this!!

the real figure is way more than 16t. Cash the fed has distributed more than 60T.

and another 40t loan guarantees

The Fed agreed to "strongly consider" the recommendations, but as it is not a government-run institution it cannot be forced to do so by lawmakers

Don't you just love the arrogance of these guys?

Well it cannot be forced to adhere to government recommendations then why do we allow them to have a seat a seat at the table at the highest levels of our government?

Hey Fed Reserve..... I want my money back!

Alittle more from the article

The audit was conducted on a one-time basis, as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed last year. Fed officials had strongly discouraged lawmakers from ordering the audit, claiming it may serve to undermine confidence in the monetary system.

Well,No Sh*t!!! I just had dinner,this makes me want to puke!!!

You know what? Write-off America's debt to these scumbags because they can just print it for free anyway!

our old arch enemy the bank of England is the head receiver of funds , as well as the bank of Europe.

that report says $16Trillion

other sources say its closer to $22Trillion

in any case just figure the Debit increase since 2008... the interest payment that is due to the FederalReserve will tell you the un-wound facts, see they print USDs through the Treasury but collect ~5% Interest
on the money they print...

so if the 'Debt' payments/out-go... increased to some $900Billion per month from $200Billion per month...
that would mean that the FederalReserve put some serious money on their (negative) balance sheet
and 'we' the taxpayers will pay interest on that Principal =(thin-air money) until the Moon don't shine No More


the American 'debt' is 99% money that needs to be paid to the fat-cat bankers of the FED
and not the USA's trade deficit as the Elites want you to believe.
~but what do i know~ i'm a CT'er

What gives me the impression we are propping up countries that are
in distress, and any word from the media will cause even more panic
on world markets.

So it's easier to get loans from our government, and financial help, as long as you work for a financial institution outside the US? This makes me want to vomit. Emergency loans for other institutions while our country is falling apart, and Obama is threatening to cease social security payouts? Why the hell is our country constantly either bailing out foreign financial institutions, or attempting to "rebuild" and "Implement" democracy in foreign countries?

Does anyone is the government actually care about us? As someone is my late 20's, I'm pretty fearful of what exactly the economical landscape in this country will look like in a decade or two. Why the f*** does our government want to help out just about everyone besides the people within it's borders!?

reply to post by MysticPearl


It seems as if war has been declared on the people,
by those that have sworn to protect us!!!

If you imagine for a minute that 100 Million Americans have an average mortgage of $160,000, they could have paid off everybody's mortgage

reply to post by Ex

...What gives me the impression we are propping up countries that are
in distress, and any word from the media will cause even more panic
on world markets.

'WE' (the FED) are not propping up foreign nations...

What the Fed is doing is "Underwriting' the trash/toxic paper/wothless & unfunded Derivatives issued by USA Institutions to the Banks & Investors in the EU and some other places .... so that there will remain a 'Market' for the future worthless/useless crap that the high-roller, Casino Players in the
(now non-functioning Investment Banks) Bank-Holding Companies issue to the doofs & flunkies that buy their crap ! (EU & BRIC countries are you digesting this info?)


It's all a confidence game...perpetuated by the moguls at Goldman/JPM/and such Investment Banks and the American Central Bank (AKA: shadow government) we call the benevolent and pristine, Federal Reserve......


Yeah...OK....

reply to post by St Udio


Well said....................

And i wonder just how much of this was
newly printed US curreny??

someone robs a bank for a few hundred dollars and it's all over the news...
someone robs the federal reserve of a few trillion and it's no where on the news...

typical...

someone is caught robbing a bank and they go to jail...
someone is caught robbing the federal reserve and they go to a senate ethics inquiry...

edit: my mistake.. no one is EVER caught robbing the federal reserve...

reply to post by PatriotsPride


Lets see if I got this right. The US borrows money from China and EU at interest. Then the US loans more money than it borrowed back to the EU. The the American people are told we are in debt and can't pay the interest rates that we borrowed in order to loan back from who we borrowed from in the first place. Then we are told that we have to borrow more at interest so we can continue to loan money back to the people we borrowed it from. We are told that all the money that the American people made for the year was less than the money we loaned. So we have to do without services and pay more taxes on the money we borrowed in the first place.This is nothing but a shell game that much money can't just disappear. We don't owe it we are owed it. Pay interest on what? Let them pay themselves. Files charges on all of them under the RICO act and freeze all their assets like they do to everyone else. THat will be more than enough to pay off the worlds supposed debt.

Originally posted by Ex
reply to post by St Udio

 

Well said....................

thanks for the UP Thumbs...

but i will add a 2nd line to avoid a penalty...
i wish you had done so befor that atta-boy post

Originally posted by MysticPearl
Does anyone is the government actually care about us? As someone is my late 20's, I'm pretty fearful of what exactly the economical landscape in this country will look like in a decade or two. Why the f*** does our government want to help out just about everyone besides the people within it's borders!?

Relax.

While everything written in this thread is probably true, the larger framework is missing.

Prior to the Federal Reserve business would frequently be bankrupted by currency wars between banks in different states, and all money printed was subject to influence by politicians and political mood swings. This was solved by taking the printing of money away from our political class. Something I thought England would have learned from by now.

While the outrageousness of the information in this thread is true,
what is also true is that getting the public all whipped up over it
will serve only one force in the end, and that is the political class.
They want the public to demand the government get control of printing money.


But I submit to you that the Fed has actually done well managing our money.

Originally posted by jlafleur02
Doesn't mean that we produce that much more, but that we pay that much more. Hence the lost value of the dollar

Sort of, yeah,
but not in the proportions one thinks.
We have one hundred times more,
our dollar should be diluted by a hundred,
yet it is only diluted by 10.

Effectively the consistent management of the Federal Reserve has made our dollar
ten times stronger than it should have been,
and instead of depressions where our erratic congress should have gone bankrupt
it didn't cause the Fed can lightly apply the breaks, or gently accelerate
depending on how they evaluate the value of American policy.


By setting interest rates to near zero a couple of years ago,
the Fed was saying to congress,
'this is so dumb, that I can floor it and the car will go absolutely no where at all. Ever'.

The interest rate the Fed charges is like changing the acceleration on a high speed object.
Take a tennis ball.
The Fed can hit the ball back a little harder, a little softer, with a little top spin just like an olympic pro.

Lately our government, I feel they are influenced by wall street,
has been hitting tennis balls out of bounds, giving the Fed
nothing to return serve with.
In fact the Fed looks a little undignified running around after the ball. It's on their side now after all.

Maybe Wall Street wants to crack the Fed, so they can over see that too.

Me, I'd feed the Wall Street Bankers to The president, and call Fault on them.
The Fed I would give a commendation.


David Grouchy

the currency has lost 97% of its value

Let me invert this number. This is the same thing as saying each dollar we have should be equal to 33.33 dollars of buying power, if there had been no inflation. [100 -97 = 03%] So where did the other 32.33 dollar go.

Well there are three times as many people in the USA as there were in 1913.

[color=gold]1913 97,225,000

[color=gold]2010 310,133,338

so lets adjust for the 3x population... I mean we don't want 2/3rds of the population walking around with access to zero dollars. How would they eat?

33.33 dollars divided by 3 = 11.11 dollars

So where did the other 10.11 dollars go.

Well here is a comparison of the GDPs from 1913 and 2009

[color=gold]1913 39,100
[color=gold]2010 14,237,200

14,237,200
/ 39,100
= 364.12

divided by the 3x population
364.12 / 3 = 121.37

In English that means our domestic product is 121 times more, per person, than it was in 1913. This means that we produce one hundred times as much, [color=gold] but our dollar has only had to be diluted by one tenth to cover all those purchases. Technically, and as you allude too if not for oil, our dollar should be worth about ten cents this day. Has the quality of our product also gotten 10x better in value? Then a dollar should only be worth 1 cent.

reply to post by davidgrouchy


That's all well and good they have managed us out of depressions and made our dollar valuable.

Really they have made the world their slaves. Tipping the balance of prosperity and even basic needs to where you have unjustified greed and gluttony on one end and people starving with no clean drinking water on the other.

I know maybe I'm the minority, I'm a human being and I care, most don't. But if you can't see them implementing the final countdown you are blind.