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

By   Follow Me on Twitter     Message Richard Clark     Permalink
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Page 131 -- The total lending for the Fed's "broad-based emergency programs" was $16.1trillion.   The four largest recipients, Citigroup, Morgan Stanley, Merrill Lynch and Bank of America, received more than a trillion dollars each!

 

The 5th-largest recipient was Barclays PLC.   The 8th was the Royal Bank of Scotland Group, PLC.   The 9th was Deutsche Bank AG.   The 10th was UBS AG.   These four institutions each got between a quarter of a trillion and a trillion dollars.   None of them is an American bank.

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Page 205 -- Separate and apart from these "broad-based emergency program" loans were another $10 trillion in "currency swaps."   In these "currency swaps," the Fed handed dollars to foreign central banks, no strings attached, to fund bailouts in other countries".

 

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These currency swaps and the "broad-based emergency program" loans, together totaled more than $26 trillion.   That's almost $100,000 for every man, woman, and child in America!   It's also an amount equal to more than seven years of federal spending -- spending on the military, Social Security, Medicare, Medicaid, interest on the debt, and everything else.   And around twice America's total GNP.

 

So keep this question in mind:   If the Fed had extended $26 trillion in credit to the American people instead of Wall Street, would there now be 24 million Americans who are either unemployed or unable to find a full-time job?   Answer:   No, of course not!

 

The results of this audit were first published on the morning of July 21, 2011.   At first, the most obvious number that jumped out from the report was "only" 16 trillion.   You have to add in the ten trillion in (derivative) "currency swaps" to reach the full 26-trillion-dollar mark.   So let's conservatively stick with the initial figure of 16 trillion for now, as there are very few articles on this subject -- and most of them quote that particular number.

 

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This next article from Unelected.org clearly reveals the breadth and depth of the fully justified outrage there would surely be if more people knew about this massive theft.

 

The results of the first audit in the Federal Reserve's nearly 100-year history were recently posted on Senator Bernie Sanders' webpage.   What was revealed about the audit, by Senator Sanders, was once again startling by way of its confirmation that $16 trillion had indeed been secretly given out to US banks and corporations, and foreign banks everywhere from France to Scotland.   So there is no escaping it:   In the period between December 2007 and June 2010, the Federal Reserve secretly bailed out many of the world's banks, corporations, and governments.

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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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