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Forum Post: Senator Sander’s, GAO Audit Reveals The Privately-Owned Federal Reserve Secretly LOOTED $16 TRILLION Of YOUR U.S. Treasury,

Posted 2 years ago on Feb. 27, 2012, 2:34 p.m. EST by Rennaye (34)
This content is user submitted and not an official statement

First Ever GAO Audit Reveals The Privately-Owned Federal Reserve Secretly LOOTED $16 TRILLION Of YOUR U.S. Treasury

Senator Sander’s Report

http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

Wall Street has been preparing for a doomsday scenario debt cash treasuries, and well they should for the Audit of the Federal Reserve reveals $16T in Secret Bailouts.The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year, with Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit. (The first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage on July 21st.)

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland between December 2007 and June 2010 and virtually none of the money has been returned and it was loaned out at 0% interest. Remember that GDP of the United States is only $14.12 trillion, and the entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. Are you and your fellow Americans swelled with anger and outrage at the abysmal state of affairs by an unelected group of bankers who can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses can be stopped with five dollars worth of bullets. The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)

Morgan Stanley: $2.04 trillion ($2,040,000,000,000)

Merrill Lynch: $1.949 trillion ($1,949,000,000,000)

Bank of America: $1.344 trillion ($1,344,000,000,000)

Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)

Bear Sterns: $853 billion ($853,000,000,000)

Goldman Sachs: $814 billion ($814,000,000,000)

Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)

JP Morgan Chase: $391 billion ($391,000,000,000)

Deutsche Bank (Germany): $354 billion ($354,000,000,000)

UBS (Switzerland): $287 billion ($287,000,000,000)

Credit Suisse (Switzerland): $262 billion ($262,000,000,000)

Lehman Brothers: $183 billion ($183,000,000,000)

Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)

BNP Paribas (France): $175 billion ($175,000,000,000)

and many many more including banks in Belgium of all places View the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

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12 Comments


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[-] 1 points by TruthRightsFreedom (259) 2 years ago

I haven't check any of this. Got it in a chat about 4 days ago. Seems related in timing. Personally, I'm not the global "financial dot connector". But others here might see connections. The timing says they exist.

GOVERNMENT RESIGNATIONS

2/6/12 Romanian prime minister and cabinet resign en masse http://www.guardian.co.uk/world/2012/feb/06/romania-pm-cabinet-resign

2/20/12 (GERMANY) GERMAN PRESIDENT Christian Ruff resigns (financial corruption charges) http://www.dailymail.co.uk/news/article-2102524/German-President-Christian-Wulff-forced-resign.html

RESIGNATIONS FROM WORLD BANKS:

(1) 9/25/11 (SWITZERLAND) Bank chief resigns over £1.5bn rogue trader crisis http://www.dailymail.co.uk/news/article-2041385/Oswald-Gruebel-resigns-UBS-boss-steps-Kweku-Adoboli-trading-scandal.html

(2) 10/29/11 (CHINA) Resignations Suggest Shift for China's Banks http://online.wsj.com/article/SB10001424052970203687504577003734190522426.html

(3) 11/01/12 (INDIA) More directors of the Beed district bank resign http://www.thenews.coop/article/more-directors-beed-district-bank-resign

(4) 11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign http://www.bloomberg.com/news/2011-11-22/ubs-s-japan-investment-banking-chairman-yasuki-matsui-to-resign.html

(5) 11/29/11 (Iran) Iran's Bank Melli CEO Resigns Over Loan Scam http://www.dailymotion.com/video/xlcznz_iran-s-bank-melli-ceo-resigns-over-loan-scam_news

(6) 12/15/11 (UNITED KINGDOM) Senior private banker resigns from Coutts [a very exclusive private bank] http://www.reuters.com/article/2011/12/15/coutts-fleming-idUSL6E7NF23S20111215

(7) 12/22/11 (FRANCE) Societe Generale’s Investment Banking Chief Steps Down http://dealbook.nytimes.com/2011/12/22/socgens-investment-banking-chief-steps-down/

(8) 1/05/12 (UNITED KINGDOM) Chief executive of Saunderson House [Private Bank] steps down http://www.ftadviser.com/2012/01/05/ifa-industry/people/saunderson-house-chief-executive-steps-down-M0vEWlpbSqKA3OCLZDCcGM/article.html

(9)1/09/12 (SWITZERLAND) Switzerland's central bank chief resigns http://www.aljazeera.com/news/europe/2012/01/201219145612935171.html

(10) 1/12/12 (United Kingdom) Lloyds’ head of wholesale quits http://www.bankingtimes.co.uk/2012/02/01/lloyds-head-of-wholesale-quits/

(11) 1/19/12 (SPAIN) Spanish bank Santander's Americas chief quits http://www.expatica.com/es/news/spanish-news/spanish-bank-santander-s-americas-chief-quits_202395.html

(12) 1/20/12 (JAPAN) Normura's head of wholesale banking quits http://www.euromoney.com/Article/2959021/Nomuras-head-of-wholesale-banking-quits.html

(13) 1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Governor Alan Bollard to Step Down in September http://www.bloomberg.com/news/2012-01-29/new-zealand-reserve-bank-governor-alan-bollard-to-step-down-in-september.html

(14) 1/21/12 (Greece) Banks' top negotiator quits Greece, but talks go on http://www.france24.com/en/20120121-banks-top-negotiator-quits-greece-but-talks-go

(15) 2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits: http://www.livemint.com/2012/02/06160111/Dhanlaxmi-Bank-CEO-Amitabh-Cha.html

(16) 2/07/12 (INDIA) Falguni Nayar quits Kotak Mahindra Bank http://articles.economictimes.indiatimes.com/2012-02-07/news/31031134_1_kotak-mahindra-bank-falguni-nayar-shanti-ekambaram

(17) 2/07/12 (IRAN) Iran denies central bank resignation rumor (don't believe until its denied?) http://finance.yahoo.com/news/iran-denies-central-bank-resignation-164154294.html

(18) 2/09/12 (VATICAN) Four Priests Charged In Vatican Banking Scandal http://articles.businessinsider.com/2012-02-09/europe/31040509_1_anti-money-laundering-law-vatican-finances-italian-tv

(19) 2/10/12 (INDIA) Tamilnad Mercantile Bank CEO resigns http://www.business-standard.com/india/news/tamilnad-mercantile-bank-md-resigns/464259/

(20) 2/13/12 (KUWAIT) Kuwait Central Bank CEO resigns http://www.washingtonpost.com/business/industries/kuwait-central-bank-chief-resigns-amid-political-tensions/2012/02/13/gIQAcxrOAR_story.html

(21) 2/14/12 (NICARAQUA) Nicaraqua Central Bank Pres Rosales resigns http://www.bloomberg.com/news/2012-02-14/nicaragua-central-bank-head-quits-amid-row.html

(22) 2/14/12 (UNITED KINGDOM) Social finance pioneer Hayday steps down from Charity Bank http://www.socialenterpriselive.com/section/news/people/20120214/social-finance-pioneer-hayday-steps-down-charity-bank

(23) 2/15/12 World Bank CEO Zoellick resigns http://business.time.com/2012/02/15/world-bank-president-zoellick-resigns/

Did the White House tell the World Bank president that he's out? http://bosco.foreignpolicy.com/posts/2012/02/15/did_the_white_house_tell_the_world_bank_president_that_hes_out

(24) 2/15/12 (SLOVENIA) Slovenia TWO largest Banks CEO's (2) resign http://www.bloomberg.com/news/2012-02-15/slovenia-s-nova-kreditna-banka-maribor-ceo-plos-resigns.html

(25) 2/15/12 (KENYA) Governor of Kenyan Central Bank to Resign http://www.centralbanking.com/central-banking/news/2152753/parliamentary-committee-calls-kenyan-governor-resign

(26) 2/16/12 (GHANA) Ken Ofori-Atta steps down as Executive Chair of Databank Group http://business.thinkghana.com/pages/finance/201202/57429.php

(27) 2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Quits http://webcache.googleusercontent.com/search?q=cache:ZVfFZypqVIcJ:www.a1saudiarabia.com/4489-saudi-hollandi-banks-md-quits/+&cd=4&hl=en&ct=clnk&gl=us

(28) 2/16/12 (AUSTRALIA) Anz Bank CFO Australia resigns http://www.proformative.com/news/1470243/cfo-anz-bank-resigns-amid-turmoill

(29) 2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns http://www.theaustralian.com.au/business/wall-street-journal/andrew-chick-to-lead-royal-bank-of-scotlands-australian-arm/story-fnay3vxj-1226272513981

(30) 2/17/12 (USA) Blankfein out as Goldman Sachs CEO by summer http://finance.fortune.cnn.com/2012/02/17/gary-cohn-goldman-sachs/

(31) 2/18/12 (PAKISTAN) AJK Bank’s executive steps down http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/national/18-Feb-2012/ajk-bank-s-executive-steps-down?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+pakistan-news-newspaper-daily-english-online%2F24hours-news+%28The+Nation+%3A+Latest+News%29

(32) 2/20/12 (RUSSIA) Head of Russian Bank Regulator Steps Down http://newsley.com/articles/head-of-russian-bank-regulator-steps-down/206711

(33) 2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns http://www.businessweek.com/news/2012-02-20/credit-suisse-s-private-bank-chief-asian-economist-tan-resigns.html

(34) 2/10/12 (KOREA) Korea Exchange Bank chief steps down http://english.yonhapnews.co.kr/business/2012/02/10/0503000000AEN20120210005100320.HTML

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[-] 1 points by humanityrules (14) 2 years ago

Its about flippin' time we see some real exposure like this happen!! Hope its just the beginning.

[-] 1 points by francismjenkins (3713) 2 years ago

Belgium shouldn't be surprising, the EU capital is in Brussels.

[-] 1 points by nucleus (3291) 2 years ago

Shhh ... citizens aren't supposed to know ...

[-] 1 points by BradB (2693) from Washington, DC 2 years ago

wow... this whole thread & comments ... is unbelievable ... luv it ....

[-] 1 points by Middleaged (5140) 2 years ago

Wow, here is an article that says the true number is $29 Trillion in this global bailout.

http://www.neweconomicperspectives.org/2011/12/bernankes-29-trillion-dollar-fib.html

Randal Wray is a Professor of Economics.

"in a crisis the Fed must act as a lender of last resort, but that lending MUST be expensive and temporary" But that is not what Ben Bernanke or the FED did and are still doing probably even if it is not called TARP any more.

"(Current) outstanding Fed commitments loans and assets purchased under various facilities amount to almost a trillion dollars"

"And that is why $29 trillion is the right number to use. It is the total commitment required by the Fed to save Wall Street. So far"

"Peak exposure in the currency “swaps” was nearly $3 trillion, and total cumulative “swaps” were $10 trillion. "

"According to Senator Sanders, the Fed lent $26 billion to an intermediary for Libya’s central bank. Now let me see—is there any reason that Col. Moammar Gadhafi’s central bank might possibly default on a commitment to one of the Fed’s debtors? Heck, I cannot think of any. He’s one of President Obama’s buddies, isn’t he? Well, until he met an unfortunate end."

"“Dexia of Belgium and Depfa of Germany, two bailed-out European institutions, took $50 billion in loans on a single day in October 2008 when the interbank lending market seized up”. Dexia? No risk there, right? Nice well-run institution worthy of the trust of our Fed."

"To be clear, even if no risks were taken and even if the Fed makes profits on every single deal it made, I would still object that the Fed has no business lending to Gadhafi. Or Dexia. Or any insolvent US bank. Or any solvent US bank on a continuing basis. Or any solvent bank on concessionary terms."

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[-] 1 points by Middleaged (5140) 2 years ago

Yes, I have written a little about else where. It gets a little complicated. The FED doesn't like that Senator Sanders published a total of all loans in total like that.

I tried to look at the data that Bloomberg put together (maybe it is only the data for US Banks that I downloaded), but finally got bored. The controversy is how to add up the total bailouts since Banks would take loans, pay them back, and get new loans. They invest the borrowed money at a higher interest rate, but get the money for free or low interest rates. Still $16 Trillion was the number I heard and the number I kept trying to prove. Finally I think I published the data based on Bernie Sanders Quotes. I like the link you included above.

But Bernanke is such a LAIR. He said the FED announced all the programs and nothing was secret.

http://www.bloomberg.com/news/2011-12-06/bloomberg-news-responds-to-bernanke-criticism.html

http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

Now get this the total Financial Derivatives Worldwide is like $600 Trillion Dollars and - We are all connected bankingwise, so the systemic Risk is sky high if you ask me.

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[-] -3 points by DKAtoday (28286) from Coon Rapids, MN 2 years ago

208,294 signatures so far for Bernie Sanders petition as of 5:25pm central time 02/27/2012

http://sanders.enews.senate.gov/mail/util.cfm?mailaction=clickthru&gpiv=2100081904.557411.411&gen=1&mailing_linkid=34578

Read it and find out. What it is all about.

http://www.sanders.senate.gov/imo/media/doc/Saving-American-Democracy.pdf ????????????????????????????????????????????????????

Read the Post do yo really need another reason to participate?

[-] 3 points by Middleaged (5140) 2 years ago

2 Feb 2012 I found a website that lists 16 different Amendments, but only 9 are from congressmen/women. And I think I only saw 4 on-line Petitions.

Senator Bernie Sanders and congressman Ted Deutch have similar if not the same Amendments and were the only Amendments with 4 Articles.

Only the Move To Amend has the phrase: Artificial entities, such as corporations, limited liability companies, and other entities, and The judiciary shall not construe the spending of money to influence elections to be speech under the First Amendment.

http://unitedrepublic.org/amendments-guide/ (all 16 are listed here) GetMoneyOut.com has 277,963 signatures Move to Amend has 165,984 signatures

I'm leaning toward the petition for movetoamend, because of the wording, it guarentees to cover corporations of all kinds. And we don't want spending by corporations on campaigns to be considered free speach.

[+] -4 points by DKAtoday (28286) from Coon Rapids, MN 2 years ago

Why lean, do both!

These things are being brought forward for action.

Nothing has been decided yet.

Get as many voices from as many directions.

All Shouting enough is enough!

PERIOD!!!!!!!!!!!!!!!