The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout

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posted on Nov, 29 2011 @ 07:02 PM
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The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout


A new report on the 2008 financial crisis reveals some shocking numbers that dramatically exceed the $700 billion TARP bailout



Fed Chairman Ben Bernanke says that newly revealed details about the Fed's bank bailout were kept secret to prevent a stigma against banks that took part.


So, a little more (relatively speaking) than 10 times the amount we were told. And, now this will fly under the radar. That is, they will get away with this without most people even hearing about it, I believe.

I'd say there's plenty of reason to be angry at the banks and the Reserve Corporation too. (Let's not call it Federal, as that tends to confuse what it actually is.) I think the OWS protestors were right to start out in NYC because that is such a densely packed area where they drew more public attention. If they went straight to the Reserve Corporation, very few would have noticed.

Hope this hasn't been posted already. I did search. If it's in the wrong spot, yada yada. Thanks.




posted on Nov, 29 2011 @ 07:12 PM
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I took my money out of my Chase bank account, good to see that it didn't really matter.
edit on 29-11-2011 by satron because: (no reason given)


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posted on Nov, 29 2011 @ 07:20 PM
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no wonder everybody's broke, uninsured and can't drive more than 3 blocks without smashing your tires in a pot hole.

the federal reserve is hoarding 7.7 trillion dollars. then the government can't find $10 to give a kid in school a decent lunch.

can you imagine 7.7 trillion dollars pumped directly into america. city councils would be paying illegal mexicans $150,000 a year to polish the gold side walks.

what a joke and a scam the economic "system" is. f-ck them. if this doesn't multiply ows by a factor of 1000, then america is officially dead.

what's scary is that they have 7.7 trillion to loan out and not go broke. if they loaned out that much, what happens to peoples savings, which is what the bank theoretically uses when giving loans.

this money doesn't even exist. there isn't 7.7 trillion in physical notes in circulation. so wtf are they loaning out.

edit on 29-11-2011 by randomname because: (no reason given)



posted on Nov, 29 2011 @ 07:31 PM
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reply to post by randomname
 


Don't get your hopes up...this will never become the grand blockbuster headline in the news it should be. Hermain Cain's affairs are bigger news as far as MSM is concerned.

Also heard today that while our economy was tanking in '08 that we sent 1.3 trillion or so to European Union to bail them out.


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posted on Nov, 29 2011 @ 07:51 PM
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reply to post by daynight42
 


This is by far the greatest heist that has ever been pulled off in history. Who has been arrested for stealing from every man, woman and child in this nation? Nobody! No one ever will. There aren't courts for men like them. They control every branch of government. There is only one thing left to be done, and it isn't peaceful resistance! It's too bad that OWS is comprised mostly of uber-liberal pacifists who only know how to complain about being raped, without the strength of character to defend themselves or their children from being raped in the future. It is time that this movement evolves into something with some more back bone. Nothing short of revolution will bring these men to justice, not even Ron Paul in the White House could accomplish that. They simply have too much of a stranglehold on our government. The answer is 1776!
To those of you who would say that we don't have the strength to rout out these bastards, or who would defend the status quo, I quote the words of a great man to you, “If you love wealth better than liberty, the tranquility of servitude than the animating contest of freedom, go from us in peace. We ask not your counsels nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you, and may posterity forget that you were our countrymen!” Sam Adams
edit on 29-11-2011 by Q:1984A:1776 because: (no reason given)



posted on Nov, 29 2011 @ 08:04 PM
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Boy, I bet it took a big truck to move all that money.


It's only digits passing from one computer to another. Don't know what it matters anymore. It's not even real.


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posted on Nov, 29 2011 @ 08:11 PM
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As I'd mentioned in another thread about a financial issue....this number just so happens to closely match the value of all gold every mined in the history of mankind on Earth. Estimated at 160,000 tones. At current prices...I think this comes a little below, but not by much.

My question is real simple.... If THAT MUCH money went out..and it's impossible to get my mind around that figure in a true sense, so I wont try...but where the heck did it *GO*?! There was no freeing up of credit and loan markets to the 6+ billion consumers around the world. There aren't enough within the industry to benefit with numbers that far into the stratosphere. So.... umm.... Say what? Where? ON WHAT?

We're into numbers here that buy nations.. hell, it would buy bundles of nations outright and in cash. Yet we've so quickly becomed conditioned to this insanity the magnitude of what they've done to us doesn't even register a major fuss in the media. We're soooo doomed.



posted on Nov, 29 2011 @ 08:14 PM
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reply to post by daynight42
 


This all serves to undermine the dollar and devalue it through inflation. America is done ...



posted on Nov, 29 2011 @ 08:15 PM
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If you search ATS, you will find that we linked that amount to the bailouts back in 2008.

It's no secret here.
Well, to me a least...


This problem is enormous.
The people just don't seem to care enough.
Too worried about what NFL team is winning or who won another game show.
Distractions have all but ruined our thought processes.


We need ALL Americans on the same page about this.
And we can't even agree on simple political ideals...



So what do you expect to happen?
I, for one, expect a populus shut down.
Show those thieves who really controls things.
But, I may be getting my hopes up.
Too many people are scared, worried, or just apathetic.







posted on Nov, 29 2011 @ 08:15 PM
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reply to post by angeldoll
 


Granted the "money" is likely just computer bytes. But is not without consequence. You see it still counts as real wealth, and if it leads to massive devaluation of the dollar in the future it is the little working guy like myself and probably you too that gets the rawest end of the deal.



posted on Nov, 29 2011 @ 08:15 PM
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Does anyone know how they came about these numbers?

I am guessing a lot of it was overnight loans only. Hard to believe though they cycled through 7.7 trillion? That number doesn't even make sense.

EDIT : Btw, wonder how much these guys pulled in off of interest on all of this? Must have been astounding.
edit on 29-11-2011 by Dance4Life because: (no reason given)



posted on Nov, 29 2011 @ 08:17 PM
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reply to post by randomname
 


they're not hoarding anything, they made up the 7.7T just like they make up all of the other money they print. It is only backed by bonds that also mean absolutely nothing.

We can thank Ron Paul for his hard work in uncovering some of these disgustingly large sham bailouts, his work also uncovered 16 TRILLION in secret bailouts to foreign banks in the past.



posted on Nov, 29 2011 @ 09:19 PM
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To put that in perspective a bit that is 1,100 USD for every single person on the planet or 22,000 USD for every American. I think we would have spent the money more wisely to be honest. Isn't Grand Larceny theft over 10,000 USD?



posted on Nov, 29 2011 @ 09:27 PM
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It's crazy that this issue isn't talked about much in the media...(Then again why would it?)

It's time to show the people how the system really works. Vote to get this T-shirt printed! I want to be a walking billboard ;-)
www.threadless.com...



posted on Nov, 29 2011 @ 09:47 PM
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reply to post by freedomspiritlife
 


We could spam CNN on twitter lol.



posted on Nov, 29 2011 @ 10:16 PM
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from the article


$6.8 trillion
Total assets held by the big six on Sept. 30, 2006

$9.5 trillion
Total held on Sept. 20, 2011. Rather than help curb the practice that caused the financial crisis, "the Fed and its secret financing helped America's biggest financial firms get bigger and go on to pay employees as much as they did at the height of the housing bubble," say Ivry, Keoun, and Kuntz





and nobody went to jail.



posted on Nov, 29 2011 @ 11:07 PM
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Bloomberg's article for those who want a more "official" source.

www.bloomberg.com...




$7.77 Trillion The amount of money the central bank parceled out was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he “wasn’t aware of the magnitude.” It dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP. Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.


... "And on news tonight at 10 o'clock, we'll tell you a 15 second story on this to report it, but not give any relevant details."



posted on Nov, 29 2011 @ 11:10 PM
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reply to post by Dance4Life
 


According to bloomberg's article, this was a request by bloomberg to find out where the TARP money went, but with the Federal Reserve fighting the release of the information, and bloomberg took it all the way to the supreme court. the fed's appeal to keep the information secret was denied by the SCOTUS in March of this year. I suspect it's taken awhile to compile all of the numbers into an article.
edit on 29-11-2011 by Evil_Santa because: (no reason given)
edit on 29-11-2011 by Evil_Santa because: (no reason given)



posted on Nov, 29 2011 @ 11:19 PM
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reply to post by syrinx high priest
 


I suspect that it was more to use the excuse of "The economy's bad" to justify all the psychopathic business practices that have been rampant these last 15 years.



posted on Nov, 29 2011 @ 11:39 PM
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So...

If my math is correct that's about $25,000 for every single person in America?

I think that would pretty much solve most peoples personal debt issues...

Of course you have to take hyper-inflation into consideration...

Good thing they didn't just dump it into the system at once by handing it all out to a bunch of lowlifes or something...

Oh...wait...they did...
edit on 29-11-2011 by coldkidc because: stuff and things






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