Skip to comments.Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts
Posted on 12/27/2011 6:08:43 PM PST by Iam1ru1-2
click here to read article
well ummm whaaa....is this to be believed? all the more unbelievable if it is.
What did Freepers say at the time? (I think I was on vacation)
We Waz ROBBED!
Is this for real?
Makes you wonder what a complete audit would reveal?
Only 16,000,000,000,000.00 American Dollars?
Hard de har har,
For that we wasted the time of the General Accounting Office.
that’s just Looney
This means our money is worth nothing. What else could it mean. So everyone should just stop paying any debt they ow to any of the banks or credit card compainies because they have already been paid.
It is time a whole lot of people WAKE THE HELL UP!
Ron Paul leads the charge to stop the criminal behavior of the Federal Reserve. This is probably the tip of the iceberg of debt that the US taxpayers are accountable for via the Fed. It is hard to believe they want to bail out the European Central Bank on the backs of us citizens.
If it were that easy we would just run the printing presses and pay off the debt.
$1.2 trillion -- The Feds actual lending to banks and financial companies at its single-day peak, Dec. 5, 2008, through the seven programs Bloomberg News studied in depth.
$16 trillion -- The total transaction amounts for Fed lending included in a July 21, 2011, study by the Government Accountability Office, a non-partisan investigative agency that reports to Congress. The Feds Dec. 6 memo said it was inaccurate to describe that amount as the total of its lending and guarantees, as some websites did.
The method the GAO used to produce that total differed from Bloombergs approach. Bloomberg built spreadsheets to show each borrowers daily amounts outstanding, and then found the day on which those amounts peaked. The GAO tallied all cumulative loans to arrive at $16 trillion. Its report noted that the total didnt reflect how loans terms varied under different Fed programs.
If a bank borrowed $1 billion overnight for 100 nights, Bloombergs analysis would show that the bank had a $1 billion balance at the Fed for 100 days; the GAO method that produced the $16 trillion total would sum up those transactions to $100 billion, even though the bank never owed more than 1 percent of that total.
>>>Ron Paul leads the charge to stop the criminal behavior of the Federal Reserve.<<<
I suspect the Federal Reserve and the “Too Big Too Fail” (TBTF) banks have hired (or paid off) an army of instigators and shenanigans to smear Ron Paul in every way imaginable. Is it working? Time will tell.
thanks maggie....I’ve REALLY missed getting ALL the news here on FR.
Just curious, but I’m wondering who would I have to blow in order to get a meazly $1 million, tax-free, interest-free, non-repayable loan/bailout (a la Solyndra).
Perhaps I need to rent a limo, buy a couple of grams of “blow” and then blow Barry, eh?
Sorry, but even though I could go along with the first 2 conditions, I’d prefer to be boiled in oil rather than comply with condition number 3.
Guess I’m going to have to keep my day job. ;-)
From an article posted here on FR last July 29:
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.