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$26 Trillion of Bankster Fraud & Theft According to Ron Paul, Alan Grayson and Bernie Sanders

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We could have restored our crumbling roads, sewers, gas mains and bridges, the most decrepit in the industrialized world.

We could have transformed poverty-stricken inner cities by means of massive construction and refurbishing projects, and dramatically improved public transportation -- making it much easier for people to get to work and back, thereby greatly expanding the number of job opportunities available to them.

We could have completely modernized public schools, halved the size of classes, improved the pay and quality of teachers, and provided enough computers for every kid in the country.

We could have trained and hired enough teachers to educate vastly more of our children in the skills and software needed to be competitive in today's rapidly evolving economy.

We could have boldly invested in clean energy technologies to heal the environment -- as China is now doing, with half a trillion dollars in spending every year.

We could have built high-speed bullet trains to make it easier (and faster) when traveling through and between congested urban areas.

And, as Foster Gamble revealed in his groundbreaking independent film Thrive, we could have ended poverty and environmental destruction -- for as little as $200 billion a year.

But instead of any of this happening, the "one percent" got to upgrade their already lavish lifestyles -- while much of the middle class was forced to sink ever deeper into the Next Great Depression, as economist Paul Krugman recently called it.

Congressman Bernie Sanders Helps Strip Away The Lies

In early November, Congressman Bernie Sanders revealed that in addition to handing out $16 trillion (not counting the ten trillion in "currency swaps" that Congressman Grayson pointed out), the Federal Reserve also owns the financial agencies they are supposed to be regulating.

A GAO audit referenced by Sanders revealed that many of the people who serve as directors of the 12 Federal Reserve Banks come from the exact same financial institutions that the Fed is in charge of regulating!   Further, the GAO found that at least 18 current and former Fed board members were affiliated with banks and companies that received emergency loans from the Federal Reserve during the financial crisis.   In other words, the people "regulating" the banks were the exact same people who were being "regulated."   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.

Getting this type of disclosure was not easy because Wall Street and the Federal Reserve fought it every step of the way.   But, as difficult as it was to lift the veil of secrecy at the Fed, it will be even harder to reform the Fed so that it serves the needs of all Americans, and not just Wall Street.   Yet that is exactly what we must do.

Mainstream Media Lies Re: The Real Size Of The Bailouts

To sum up, we've so far seen that the Federal Reserve secretly created $26 trillion (out of thin air), without US government approval.   This adds up to nearly a quarter million dollars per American household.

This money, as stated at the outset, was then handed out to financial institutions like Goldman Sachs, Citigroup, Bank of America, JP Morgan Chase, Morgan Stanley, the Royal Bank of Scotland and Deutsche Bank.

Then, lying mainstream media journalist-presstitutes reported that the entire bailout added up to nothing more than $1.2 trillion.   They also said that "this is what a central bank is supposed to do."

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 
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Sanford Weill, the man who helped conceive &... by Richard Clark on Sunday, Aug 5, 2012 at 11:53:04 PM
Thanks for the numbers and the news that some cour... by Laura Stein on Saturday, Aug 18, 2012 at 9:55:14 AM
Figures so large that the human brain has not evol... by Daniel Geery on Monday, Aug 6, 2012 at 8:36:21 AM
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. . both theoretically and realistically.... by Richard Clark on Monday, Aug 6, 2012 at 1:28:15 PM
Dear Mike, I've rewritten your comments i... by Richard Clark on Monday, Aug 6, 2012 at 2:21:00 PM
> They wouldn't have failed if the government ... by Mike Dar on Tuesday, Aug 7, 2012 at 10:17:50 AM
This is correct and we'd probably be much worse of... by Robert Cogan on Monday, Aug 6, 2012 at 2:42:47 PM
Dennis   and I are 100% correct - Fed must be... by Holbrook Boruck on Monday, Aug 6, 2012 at 3:00:25 PM
O and the Ds gambled (with a lot of help from the ... by Walter J Smith on Monday, Aug 6, 2012 at 3:36:45 PM
. . certainly a mystery.  I suspect it is bec... by Richard Clark on Monday, Aug 6, 2012 at 5:54:55 PM
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At the London School of Economics, Australian econ... by Richard Clark on Monday, Aug 6, 2012 at 8:58:43 PM
In years past, retired folks were able to live off... by Richard Clark on Monday, Aug 6, 2012 at 9:17:24 PM
Greetings,Richard, I agree with you that Mitt and ... by Kellis R. Solomon on Tuesday, Aug 7, 2012 at 1:38:07 AM
. . they simply don't want to talk about it. ... by Richard Clark on Tuesday, Aug 7, 2012 at 9:05:44 AM
A new report from the conservative Government Acco... by Richard Clark on Tuesday, Aug 7, 2012 at 9:31:54 AM
Are they showing us the way?   Click... by Richard Clark on Tuesday, Aug 7, 2012 at 9:56:09 PM
n/t... by Laura Stein on Saturday, Aug 18, 2012 at 10:01:30 AM
One insider is telling the truth about TARP, th... by Richard Clark on Wednesday, Aug 8, 2012 at 11:00:28 AM