Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

www.unelected.org...

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 Uni

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WOW. The article says it pretty well. I a outraged that the Federal Reserve, congress' piggy bank is throwing money at foreign banks while we the people are bailing out our own. Why 0% interest? Perhaps to keep the world economy from tanking but this isn't making a hell of a lot of sense to me. I want to dig in and read the list of companies, governments and banks that were bailed out. Thoughts?

[url=http://www.stumbleupon.com/su/1hHyBa/www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts]www.stumbleupon.com[/u rl]
(visit the link for the full news article)

Several months old - hardly breaking

www.abovetopsecret.com...

reply to post by Aloysius the Gaul


Breaking news or not, it is someting that maybe needs to be reposted as a reminder of the crap that this Government is up to. Stars and Flags for the op . Even tho we disagree on other issues right?

reply to post by CherubBaby


Lol agreed. I'm surprised I've never heard this story.

The thing is, this is something we all knew before the article was ever released. It's a sad that we chose to let them get away with this, every dollar the Fed prints makes your dollar worth less. 16tn, well that speaks for itself, but something tells me that's just the tip of the iceberg.

reply to post by CherubBaby


You might find this post in yet another thread about this has more information for you - www.abovetopsecret.com...

Originally posted by goldcoin
The thing is, this is something we all knew before the article was ever released. It's a sad that we chose to let them get away with this, every dollar the Fed prints makes your dollar worth less. 16tn, well that speaks for itself, but something tells me that's just the tip of the iceberg.

did you also notice that it was all in short term loans, all finished now, all paid back?

So neither "the tax payer" nor "the Fed" nor anyone else is actually out of pocket at all??

I wonder how many jobs would have been lost if all these places had not been succoured?

lets not forget that every time the reserve puts new money into the economy, they are devaluing Your hard earned money. Can you say $5 a gallon.

reply to post by jondave


About time you yanks paid a bit more for your gas to reflect the true cost of burning fossil fuels

reply to post by Domo1


That is a considered amount of money. Much more than we've been told for sure at near 0% interest no doubt. I thought we the people were supposed to make a profit on the money that was lent out? (it is taxpayer money). Maybe we should all individually incorporate maybe then no one has to pay taxes and everyone gets great refunds in the form of Tax breaks on purchases and receive subsidies in the form no interest loans that don't have to be payed back? The government would then have to bail out the people.

404 not found , I think the removed the story.

Here is a story about bailout Profits from the Huffington Post. They do mention Trillions have been lent out.

"The Fed also flooded the financial system with trillions of dollars in guarantees, short-term loans and asset purchases."

it goes on to say:

"Earlier this month, Nobel Prize-winning economist Joseph Stiglitz told another bailout watchdog that TARP has been a "dismal failure."

"It was hoped that it would play a pivotal role in dealing with the flood of mortgage foreclosures and the collapse of the real estate market that led to the financial crisis," Stiglitz said March 4 during testimony before the Congressional Oversight Panel.

"TARP and the recovery of troubled assets were not ends in themselves, but means to an end, namely the recovery of the economy," the Columbia University professor said. "In that ultimate objective, TARP has not only been a dismal failure -- four years after the bursting of the real estate bubble and three years after the onset of recession, unemployment remains unacceptably high and our economy is running far below its potential, a waste of resources in the trillions of dollars -- but the way the program was managed has, I believe, contributed to the economy's problems."

The ongoing moral hazard, Barofsky argued, is "precisely the sort of behavior that could trigger the next financial crisis, thus perpetuating a doomsday cycle of booms, busts and bailouts."

Obama Treasury Celebrates Bailout Profits While Ignoring Costs, Legacy

www.huffingtonpost.com...

reply to post by Domo1


New posts report much lower amounts.

Bringing this back up to figure out the difference.

reply to post by Domo1


I don't get it because I posted something a few days ago that said the number was $7.7 trillion.

This is odd that you thread gets less attention. Maybe it's because people mostly see 16 and 77, and since 16 is less than 77, they figure it to be less. In other words, the decimal is ignored.

It makes sense in a way. Retailers price things as 49 instead of 50 because they know people rather see a 4 first than a 5, even though it's a difference of 2%.

Just wondering...maybe we should say 9.99 trillion + 6.01 trillion