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

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Thanks to heroic efforts of Congressman Ron Paul, former Congressman Alan Grayson and Congressman Bernie Sanders to audit the Federal Reserve, we now know that the Federal Reserve secretly lent out $26 trillion worth of American money from 2007 to 2010 -- much of it to foreign banks.  


Twenty.   Six.   TRILLION.   Dollars.

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This is a very difficult number to comprehend -- but we now have a way to wrap our minds around it.

At his website, Los Angeles-based 3D designer Oto Godfrey has created an incredibly powerful series of images to help us actually visualize this much money, were it to be assembled out of brick-sized stacks of 100-dollar bills.   And this website goes into more detail about each category of the loan making. 

Fifteen trillion dollars -- or one year's worth of the US National Debt -- is a stack of hundred-dollar bills that is longer and wider than a football field . . and over 2/3rds the height of the Statue of Liberty.

If you add another $11 Trillion to get our total of $26 Trillion, that same stack, covering an entire football field, will now be taller than the Statue of Liberty.  

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In the Face of This, Congressman Grayson Spoke the Terrible Truth

Here is a small part of the letter in which Congressman Grayson reveals how he found this startling number, 26 trillion, in the newly-audited Federal Reserve balance sheets .

Congressman Grayson:   " I wouldn't want anyone to think that I'm dramatizing or amplifying what this GAO report says, so I'm just going to quote some of my favorite parts, by page number."

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.

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".

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.

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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.

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

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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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