David Lemon found this gem (see more about Lemon below), and as he said, it will either make your blood boil, or run cold. The recent, partial audit of the Federal Reserve confirms the frightening suspicions that we have feared, but had no way to know with certainty. The ‘lending,’ at 0% interest, began in December 2007.
What was revealed in the audit was startling:
$16,000,000,000,000.00 [$16 Trillion] had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious – the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.
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
I recently posted 100 reasons to end the Federal Reserve. Read it here. I guarantee, there is information in that post, about the FR, that most of us did not know. About David Lemon. He is a Master Sculptor and an exceptional newshound. David is on top of everything. View his amazing daily videos as he sculpts here, and see a great article featuring him at Roxy the Traveling Dog’s Blog for Artsy Fartsy Tuesday.