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Originally posted by eLPresidente
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.
The Fed Audit July 21, 2011, Official Government Website of U.S. Senator Bernie Sanders sanders.senate.gov... The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. Among the [Government Accountability Office] investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. The [report] also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans. For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans. Note: We don't normally use the website of a member of the U.S. Senate as a source, but as amazingly none of the media covered this vitally important story other than one blog on Forbes, we are publishing this here. The GAO report to back up these claims is available for all to see at this link. For how the media is so controlled, don't miss the powerful two-page summary with reports by many award-winning journalists at this link. For another good article on the Fed's manipulations, click here.
Originally posted by OUTofSTEPwithTHEworld
here is a list of the bailouts made...