The Beginning Of The End
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The Mystery Of The Shemitah

Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?

What you are about to read should absolutely astound you.  During the last financial crisis, the Federal Reserve secretly conducted the biggest bailout in the history of the world, and the Fed fought in court for several years to keep it a secret.  Do you remember the TARP bailout?  The American people were absolutely outraged that the federal government spent 700 billion dollars bailing out the "too big to fail" banks.  Well, that bailout was pocket change compared to what the Federal Reserve did.  As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars in nearly interest-free money to the "too big to fail" banks between 2007 and 2010.  So have you heard about this on the nightly news?  Probably not.  Lately Bloomberg has been reporting on some of this, but even they are not giving people the whole picture.  The American people need to be told about this 16 trillion dollar bailout, because it is a perfect example of why the Federal Reserve needs to be shut down.  The Federal Reserve has been actively picking "winners" and "losers" in the financial system, and it turns out that the "friends" of the Fed always get bailed out and always end up among the "winners".  This is not how a free market system is supposed to work.

According to the limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the grand total of all the secret bailouts conducted by the Federal Reserve during the last financial crisis comes to a whopping $16.1 trillion.

That is an astonishing amount of money.

Keep in mind that the GDP of the United States for the entire year of 2010 was only 14.58 trillion dollars.

The total U.S. national debt is only a bit above 15 trillion dollars right now.

So 16 trillion dollars is an almost inconceivable amount of money.

But some other dollar figures have been thrown around lately regarding these secret Federal Reserve bailouts.  Let's take a look at them and see what they mean.

$1.2 Trillion

A recent Bloomberg article made the following statement....

The $1.2 trillion peak on Dec. 5, 2008 -- the combined outstanding balance under the seven programs tallied by Bloomberg -- was almost three times the size of the U.S. federal budget deficit that year and more than the total earnings of all federally insured banks in the U.S. for the decade through 2010, according to data compiled by Bloomberg.

The $1.2 trillion figure represents the peak outstanding balance on these loans, not the total amount of all the loans.  On December 5, 2008 the "too big to fail" banks owed this much money to the Federal Reserve.  Many of them could not pay these short-term loans back right away and had to keep rolling them over time after time.  Each time a short-term loan got rolled over that represented a new loan.

$7.7 Trillion

Bloomberg is reporting that the Federal Reserve had made a total of $7.77 trillion in financial commitments to the big banks by the end of March 2009....

Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.

But as mentioned above, a one-time limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act covered an even broader time period and revealed even more bailout loans.

According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010.  The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

This report was made available to all the members of Congress, but most of them have been totally silent about it.  One of the only members of Congress that has said something has been U.S. Senator Bernie Sanders.

The following is an excerpt from a statement about this audit that was taken from the official website of Senator Sanders....

"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world"

So where is everyone else?

Why aren't leading Republicans and leading Democrats crying bloody murder over this report?

This scandal should have been front page news for months when it was revealed.

But it wasn't.

And Guess what?

Not only did the Federal Reserve give 16.1 trillion dollars in nearly interest-free loans to the "too big to fail" banks, the Fed also paid them over 600 million dollars to help run the emergency lending program.  According to the GAO, the Federal Reserve shelled out an astounding $659.4 million in "fees" to the very financial institutions which caused the financial crisis in the first place.

In addition, it turns out that trillions of dollars of this bailout money actually went overseas.  According to the GAO audit, approximately $3.08 trillion went to foreign banks in Europe and in Asia.

So why were our dollars being used to bail out foreign banks while tens of millions of American families were deeply suffering?

That is a very good question.

Also, it is important to remember that many of these bailout loans were made at below market interest rates, and this enabled many of these financial institutions to rake in huge profits.

According to a recent Bloomberg article, the big banks brought in an estimated $13 billion by taking advantage of the Fed’s below-market rates....

While the Fed’s last-resort lending programs generally charge above-market interest rates to deter routine borrowing, that practice sometimes flipped during the crisis. On Oct. 20, 2008, for example, the central bank agreed to make $113.3 billion of 28-day loans through its Term Auction Facility at a rate of 1.1 percent, according to a press release at the time.

The rate was less than a third of the 3.8 percent that banks were charging each other to make one-month loans on that day. Bank of America and Wachovia Corp. each got $15 billion of the 1.1 percent TAF loans, followed by Royal Bank of Scotland’s RBS Citizens NA unit with $10 billion, Fed data show.

So once the financial crisis was over, were adjustments made to the financial system to make sure that this type of thing would never happen again?

Of course not.

Today, the "too big to fail" banks are larger than ever.  The total assets of the six largest U.S. banks increased by 39 percent between September 30, 2006 and September 30, 2011.

So now they are more "too big to fail" than ever.

But this is what happens when we allow unelected central bank bureaucrats to run our financial system.

Most Americans do not realize this, but the truth is that the Federal Reserve is not part of the government.  In fact, it is about as "federal" as Federal Express is.  The Federal Reserve has admitted that they are a privately owned institution in court many times, and you can see video of a Federal Reserve employee admitting that the Federal Reserve is privately owned right here.

The Federal Reserve is an out of control monster that is throwing around trillions of dollars whenever it wants to.  Nobody should be allowed to do this.  Nobody should be allowed to give bailouts to banks and corporations without the express permission of the U.S. Congress and the president of the United States.

This is a point that I made in my article yesterday.  The Federal Reserve decided this week that it is going to provide "liquidity support" to Europe.  If the American people do not like this move, that is just too bad.  We do not get a say in the matter.

Are you starting to understand why I keep pushing the idea that it is time to shut down the Federal Reserve?

Please share this information about the secret 16 trillion dollar Federal Reserve bailout with your family and your friends.

If we can get enough people to wake up, perhaps there is still time to change the direction that this country is headed.

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  • Chris

    16 trillion dollars. Wow!

    There are about 140 million federal returns filed each year, lets call them tax payers.

    If the Fed doled out 16 trillion dollars to these tax payers with the same nearly interest free rates, each of use would have received approximately $114,285.00.

    What do you think that would do for the economy?

    So why are the banks more important than the US tax payers? THE PEOPLE AT THE FED AND THE BIG BANKS NEED TO BE ON TRIAL FOR CRIMES AGAINST HUMANITY.

    When you see families losing their jobs, and being kicked out on the street day after day on the news but then decide to ignore it and give your rich banker buddies the lending hand instead, THAT is the very definition of inhumane in my book.

    Most people don’t want to get involved. They don’t want their friends, bosses, whoever thinking that they are some left/right wing crazed zealot. They would rather get by as just another sheeple rather than demand a change even though most people agree this stuff isn’t right.

    Wake up America, being an American is a gift that was earned with blood by the brave, don’t be a pussy and let it fade away because you’re afraid of what others will think. Stank up and be an American.

    • Lennie Pike

      Exactly the right thing to think, feel, and say.

      Let’s begin to take action. Any action, even if small, will speak volumes to the majority who are cowering in a state of shock and afraid to take action.

      A large percentage of the population know that evil is taking over our country, but since they have never needed to oppose evil, do not know what to do, and are also afraid to do anything.

      It does not take much to get a snowball moving downhill.

    • NeilBJ

      Money is not wealth. It has value only to the extent of the amount goods and services it can buy. The Federal Reserve is nothing but a counterfeiter. As the Federal Reserve inflates the money supply, the ratio between the money supply and the goods and services can only increase and result in a devaluation of the dollar. (More dollars divided by existing goods and services equals less value for each dollar.)

      I have posed this hypothetical question. If creating money by manipulating balances in bank accounts works, why not let each of us increase the balances in our checking accounts by going on-line and doing so? I assume that most of us can access our bank accounts via the Internet.

      Then we wouldn’t have to work for a living. If we didn’t have to work for a living, then none of us would work for a living. But then nothing would get produced and there would be nothing to buy.

      Simplistic? Of course. But I do hope this illustrates the idea that printing money is an immoral, get-something-for-nothing scheme.

      Bottom line: get rid of the Fed ann return to a species standard.

  • http://EconomicCollapse Already Gone

    the day has come where man must face destiny,it is to late for change, have to go as i am on my way to walmart for more food and ammo. may god be with you

  • 007

    The sad part is that this money printing and lending does have consequences. First, we are so fortunate to be the world reserve currency. Every time the FED does this irresponsible lending it destroys the integrity of our currency and will eventually jeopardize our reserve currency status. Second, it rewards the political insiders while it leaves the rest of honest businesses to die and twist in the wind. Finally, it grossly rewards a few incompetent businesses and sticks the American public with the inflation bill.

  • 007

    I wonder how many jobs and economi lives would have been saved if small business or even average American taxpayers were giving 16 trillion dollars in interest free loans.

  • 007

    Bernanke claims this was all done to stabilize the economy. He also claims this money was mostly paid back.

    If these banks and friends did not pay the money back, how would anyone ever know? The Fed can print money and claim they were paid back.

    If the banks did pay back the money, how did they get the money? Did the Fed pay them under the table?

    The sick part is that every dollar that is printed the taxpayer will ultimately pay through inflation.

    It normally takes 3 to 4 years for printed money to create inflation. Therefore, we can expect the first waves of inflation any time.

  • http://economic-compass.weebly.com hrzenjak

    good article, hardly see any other long term outcome then devaluation.

    you might be interesting in
    ECB in Europe becoming FED

    http://economic-compass.weebly.com/1/post/2011/11/european-central-bank-above-lisbon-treaty.html

  • http://goldenladyfun.blogspot.com Pat

    For all these bailouts from the Fed we the people have not seen one penny of that money in Europe. In fact municipal worker and government works have not been paid at Christmas time for years.

    These crooks have just pocketed your money. I believe the so called “Crisis” is fake. There is plenty of money. They just don’t want to give it to you. They want to bankrupt you. This is economic warfare.

    My family and I are buying gold by the gram a a little at a time: goldenladyfun.blogspot.com

  • shypuffadder

    Congress couldn’t care less about giving all this money to the TBTFs, they are much more concerned about eliminating the payroll tax cut. The banks are allowed to take as much money as they want because we end up paying for it anyway. That’s why they won’t extend the payroll tax cut, we’ve got to start paying back the trillions. Outrageous.

    What ARE we going to do about this?

  • Maria

    So where is everyone else?

    Why aren’t leading Republicans and leading Democrats crying bloody murder over this report?

    BECAUSE THEY ARE BOUGHT AND PAID FOR BY THE BENEFICIARIES OF THE “BAILOUTS”.

    ———————————————-

    For five years, I tried to warn family and friends about the economic collapse. They all politely listened, but honestly thought I was nuts. My husband included. This past summer I quit talking about it. Let them all live in denial.

    Two days ago, my husband came home from work and announced that we are going to put up a years supply of food over the next two weeks, because he now believes the whole system will collapse in the next 90-180 days.

    Don’t know what changed his mind. Don’t care. Just glad he did. I have quietly been stocking up our supplies while everyone mocked me. So we don’t really need to do much more. Mostly just stock the freezers, and put together a bugout plan.

    The point is, even the those who lived in denial are waking up to the reality….

    The world economy is collapsing.

    Pray and prepare.

  • r.bitting

    There will be no wake up call heard…. It’s in the script. To obtain a copy of the script for your own records simply go to your local bookstore ( it can be found in the bible’s book of Revelation, folks ).. Man will never change, which is why history repeats itself, and why that book was written in the first place. Trust in Jesus Christ and repent of your sin.

  • Barn Cat

    The Federal Reserve caused the problem in the first place. Artificially low interest rates caused the housing bubble. Banks and mortgage companies made a lot of loans without verifying income. Banks were under pressure to lend to minorities regardless of their ability to pay. That started during the Clinton administration. And of course, those toxic mortgages were bundled, rated AAA, resold, and countless billions were stolen from investors and nobody went to prison.

  • Silver Bean

    OT, I know, but in the world of preppers and survivalists where there is so much gloom and doom, so much serious conversation, etc., we need to pause and have a laugh. Below is my laugh for the day.

    San Jose police: Man who caused post office shutdown was jogger in unusual gear
    http://www.mercurynews.com/bay-area-news/ci_19440928

  • Zedge Hero

    Have I heard about the 16 Trillion dollar bailout?

    Sure did – Reported it on the World Revolution News back on August 25th. 1500+ views and 27 likes and no dislikes. Probably my best video.

    http://www.youtube.com/watch?v=RuJ5yUlJ3P8

    I was in shock and awe that no one then was reporting on it. Woke up this morning and it’s like being in a time machine watching all the media report on it. And it’s like damn it, I was telling everyone about this in August, to be fair I felt bad that I found out over two weeks after it was intial released in July, but it goes to show that if you don’t report it, it’s as if it never happend. Damn lame stream media- not you of course Michael. You were on the FED before FED bashing was cool.

    Did you ever wonder why when you discuss how dire the economic situation is to others that it as if it goes in one ear out the other. Well they have recently done some studies at Waterloo University and Duke University on why ignorance is bliss and thats what this week’s episode is talking about on the World Revolution News-

    http://www.youtube.com/watch?v=lw7UE_iNmFo&feature=channel_video_title

    • Highspeed

      I knew I had already about all of this. I wondered why Michael was bringing up old news. lol

  • Pingback: The 2012 NO-SHOW! Another excerpt from the Cosmic Chess Match! « L.A. Marzulli's Blog

  • liberranter

    What you are about to read should absolutely astound you. During the last financial crisis, the Federal Reserve secretly conducted the biggest bailout in the history of the world, and the Fed fought in court for several years to keep it a secret.

    Astound me? Nope, sorry. Unless one’s been living on another planet, there’s no way to be astounded by anything that the criminal class ruling over us does, unless they were to do the moral, decent, and right thing. Sickened, enraged, and tempted toward acts of violence, yes. But astounded? Not a chance.

    This is not how a free market system is supposed to work.

    PLEASE tell me that you don’t really believe that Amerika operates within a free market framework. C’mon, Michael, you’re smarter than that.

    This report [on who received Fed bailout funds] was made available to all the members of Congress, but most of them have been totally silent about it.

    But of course. Most of them are bought-and-paid-for whores subservient to these state-corporate welfare queens. Yet even if it were to be released at large, most of the Amoricon sheeple public is too stupid or apathetic to understand or care about the report’s content.

    Why aren’t leading Republicans and leading Democrats crying bloody murder over this report?

    Ditto my previous comment.

    Most Americans do not realize this, but the truth is that the Federal Reserve is not part of the government.

    That fact is just one of thousands of essential facts of Amerikan political and economic reality that the sheepletards don’t understand and probably never will, no matter how violently gang-raped they are by the status quo. Face it, folks: it’s too late. Those of us who frequent this blog and understand the facts of life are grossly outnumbered by the doorstops-with-pulses that dominate every civil institution with which we interact. As many other have stated here in response to other articles, the best that any of us as individuals who love liberty and peace can do is prepare, stick together, and brace ourselves for the worst.

  • dave

    You asked:

    “So why were our dollars being used to bail out foreign banks while tens of millions of American families were deeply suffering?”

    Answer: because we have become:
    ..one nation….without balls

  • mondobeyondo

    If the Fed had committed its entire $16 trillion bailout towards the U.S. debt, the U.S. would have no debt.

    That is a tremendous amount of cash. You could call it the MMM Index (Massive Mountain of Money) if you want. (Yes, I came up with that. Ha!) If it really took that much money to prop up the “too big to fail” banks in Europe, it indicates just how truly perilous the world financial situation is.

  • Toomanyfakeconservatives

    Let’s review some basic history here… the dollar was not the world’s reserve currency prior to WWI and the Fed did not exist prior to WWI. Back in that day, the U.S dollar didn’t have any more clout or certainty than the British Pound Sterling or the French Frac. In fact, there were times when the dollar had little clout on the international stage given our financially-crushing Civil War, and the serious financial crashes and the financial-political scandals over the following decades.

    The U.S. bailout of France and England in WWI was not just a battlefield bailout, it was an engineered financial bailout that 1. Fed France and England 2. Raped Germany financially, politically, and socially 3. Formed the bedrock of permanently entangling relationships and alliances with foreign countries and the international debt masters(!). The world has never been the same since.

    The political whores that are presently permitted by the American people to dominate the political system aren’t about to stand up to the international debt masters. They are owned to the n’th degree by them. What you are witnessing is in this article and the adjacent article is just the final straws and final stages of totalitarian debt slavery on a national and international level.

    The way I see it going, 1. the U.S.E. (United States Empire) starts another much bigger, more costly war to enrich the Empire (or have Israel or whomever force the issue) and 2. in the aftermath, the U.S. officially abdicates/surrenders to the international debt masters… and they become the one world government. I’d rather not believe this is the case, but it seems like the endgame.

    • Nexus789

      Don’t think so. May be an intention start another war to foster capital accumulation but the difference now is that everyone that matters has great big nuclear bombs that could a put a bit of a dent in your day.

  • http://www.theincendiaryinsight.blogspot.com DW

    The Federal Reserve, the Big Banks, and the government see no problem in robbing Americans of their hard-earned wealth. The West has been plundered, not by foreigners, but by its own governments.

  • Kathy Smith

    If I wasn’t a regular blogger Mike I would be appalled but nothing those greedy b******* do surprises me anymore. Keep up the good work Mike & we will keep passing the info on

    • Michael

      Thank you Kathy. And it is true – the corruption is so over the top that it is easy to get numbed by it all.

      Michael

      • Louise in MO

        Michael…..it’s not only mindboggling, it’s overwhelming to accept what truths you present.

        No one listens to me either, especially the young adults who are busy with other things.
        When they talk about the hope they have for their future and are excited about the possibilities, it really makes me sad because I know that future will never happen.

        I hope I’ll be around to help pick up the pieces of their broken dreams and help feed them from the food I have been storing.

        America is mot the country I believed in for so long; it’s filled with greedy,corrupted elites who care nothing about America. They want the entire globe and we’re just collateral damage.

  • JMorcan

    The ObaMao administration has doomed this country to a future of poverty. Much as it pains me, I’m converting to RMB. The U.S. government can no longer be trusted, and I refuse to go down with the ship.

  • milo

    jf gobblygoop horsesheet is neospeak for truths , i can drabble myself well enough as to BAC SHAREHOLDERS BEING MEMBER OWNERS OF THE FEDERAL RESERVE BANK, AND THE HOLDING OF A TRILLION PLUS OF LEVERAGE MONEYS FROM BAILOUTS NOT WANTED OR NEEDED BUT FOR STICKY FINGERED HELP SHARE VALUED IN TENS OF THOUSANDS……

  • Joe

    Disgusting!

  • Matt

    Maybe this is why CD rates have plummeted. It’s hard to get a 5 yr. CD that pays more than 2%. Many retired people depend on these safe investments to pay for basic living costs. Inflation in commodity pricing is making food more expensive while at the same time the return on safe investments is dropping.

    It all makes sense now. Why should a bank pay your parents or grandparents 4-5% for a CD when the Fed will loan them money at artificially low rates.

  • Craig Weaver

    How are the American taxpayers on the hook for the money that went overseas from the Fed? I understand about the inflation factor. That is a private bank loaning money to someone else.

    Thank you,

  • REED RICHARDS

    THE CHOICE IS YOURS PEOPLE:

    Anyone still think that voting Republican (teabaggers included) or Democrat is going to change any of this?

    Assuming that Congressman Ron Paul is not the Republican nominee, which is likely that he won’t be, will everyone here join me in NOT VOTING FOR EITHER THE REPUBLICAN OR DEMOCRAT NOMINEE FOR PRESIDENT IN 2012?

    • knightowl77

      I agree that we need Ron Paul, so if he does not become the nominee then we need to urge to him to run 3rd party….

      Staying home, I understand, but how does it help?

      • Highspeed

        Every republican, or former republican should team up with a democrat who also feels unrepresented by either party and they should go to the polls together, maybe even watch each other vote for Paul as a viable 3rd party candidate. If enough people did this he would have a chance. Otherwise Paul will only prolong our agony under Obama.

    • r.bitting

      C’mon man. Obama promised you change did’nt he? ( although he did’nt deliver on the hope thing did he ).. Sarcasm aside, i’m in your camp, in that I refuse to vote this time, being completely convinced beyond any doubt that the political system here in entitlement nation has hit rock bottom. America, and the world are about to fall, and many who are still under the sway of normalcy bias won’t know what hit them when it does. Now I know by saying that i’m not voting, some here will be tempted to say ” it’s your civic duty ” or ” you can’t complain if you don’t vote “… Please… If you people have’nt seen the writing on the wall by now when it comes to these politicians and the culture of corruption in D.C, then I feel sorry for you. As for my civic duty, I spent four years in the military, I think that trumps spending ten minutes at the polls once every four years.

  • Michael

    For those wondering if the unemployment rate is really going down significantly, please check out this excellent article….

    http://www.shtfplan.com/headline-news/lies-damned-lies-and-unemployment-statistics_12022011

    Things are not as good as the mainstream news is claiming, and next year the unemployment picture is going to start getting a lot worse.

    Michael

    • r.bitting

      Michael, anybody who is willing to believe anything the mainstream media or these politicians say, is living in denial.

  • Tim

    Jeff Nielson of Bullion Bulls Canada wrote an excellent commentary today about the federal government’s November job numbers. Check it out here:

    http://bullionbullscanada.com/index.php?option=com_content&view=article&id=23154:us-jobs-lies-exposed&catid=47:us-commentary&Itemid=132

  • Jason

    Where does the FED get the money for these bailouts? Don’t they at least have to buy treasuries commiserate with the dollar amount? How does this compare to the total M1 money supply?

    • Barn Cat

      The Fed creates the money electronically or prints it. In case of the secret bank loans, the Fed created liquidity and then took the money out of the system when the loans were paid back.

      • Bone Idle

        Simple keystrokes on a keyboard. Especially holding down the zero key.
        It would take quite a while to print out some trillions in banknotes.

    • mondobeyondo

      The Fed is creating the money out of thin air. They wave a wand, and poof! It is done.

      They’re doing this in part to bail out struggling Euro banks, and partly to buy up Treasuries, because China (and other countries) are getting wet feet about buying up U.S. debt.

  • dave

    Excellent post. The public needs to known the truth.

  • Antonio Gonzalez

    The FED only need print de money or electronic money.

    And the people need work to make the goods this money can buy.

    And nothing happen in America.

    Jesse James is very good boy.

  • Thomas

    Okay…it’s a big sum of $$ but it’s not 16 trillion…if you look at the GAO report, 16 trillion is not adjusted for terms difference…The following excerpt is from the same report,
    “Table 8 aggregates total dollar
    transaction amounts by adding the total dollar amount of all loans but
    does not adjust these amounts to reflect differences across programs in
    the term over which loans were outstanding. For example, an overnight
    PDCF loan of $10 billion that was renewed daily at the same level for 30
    business days would result in an aggregate amount borrowed of $300
    billion although the institution, in effect, borrowed only $10 billion over 30 days. In contrast, a TAF loan of $10 billion extended over a 1-month
    period would appear as $10 billion. As a result, the total transaction
    amounts shown in table 8 for PDCF are not directly comparable to the
    total transaction amounts shown for TAF and other programs that made
    loans for periods longer than overnight.”

    If they adjust for the term difference, it’s only 1.139 trillion.

  • El Pollo de Oro

    “This is the biggest bank robbery in world history, and the banks are doing the robbing.” —Gerald Celente

    “You can sum up what has killed capitalism in four words: too big to fail.” —Gerald Celente

    “This thing is collapsing. You better get ready for the big crash. It’s coming, and it’s going to wipe out a lot of people. There’s no salvaging this Ponzi scheme.”—Gerald Celente

    Record federal deficits, billions of tax dollars spent bailing out corrupt banksters, an increasingly abusive police state, a dying middle class, an anemic currency that is heading for collapse, high unemployment, millions of people plunged into poverty……anyone who doesn’t have his head buried in the sand can tell that this country has become a Third World banana republic on so many levels. This is no longer the USA; it is a Third World Ponzi scheme called The Banana Republic of America. And none of this can end well.

    “The war is underway. It’s class warfare. It’s Off With Their Heads 2.0. It’s going to be a battle between the haves and the have-nots. Only a very few have everything, and way too many have much too little.”—Gerald Celente

    History teaches us different things about economics. On one hand, communism was an abysmal failure because it lacked a productive capacity and encouraged permanent poverty (i.e., the Soviet Union). On the other hand, oligarchies where a corrupt, thieving ruling class operates with impunity are also doomed to failure because eventually, the have-nots get sick of a rigged game and rebel—often violently (i.e., the French Revolution). So the best approach is capitalism with upward mobility and a productive capacity, which is what the USA had before it decided to join the Third World. Gerald Celente is absolutely right when he says that when the USA was truly a capitalist country, it was the most egalitarian country on the planet (problems and all).

    Ah, but folks don’t learn from history. So when the former USA became the BRA and embraced the failed banana republic/oligarchy/fascist model, it crossed over to the dark side in the worst way. And things are going to get much worse. All the bailouts, stimulus, etc. can’t erase the fact that this patient is one very sick patient.

    “There’s no doubt that we’re in a depression, and the globalists have been covering it up.” —Alex Jones

    “Capitalism should not be condemned, since we haven’t had capitalism.”—Ron Paul

    “It’s not free trade, it’s slave trade.” —Gerald Celente

    Celente gets it, Ron Paul gets it, Alex Jones gets it, Gary Johnson gets it, Paul Craig Roberts and Justin Raimondo get it. But corporate neocon stooges like Rush “Pillhead” Limbaugh and the equally moronic Sean Hannity don’t get it and think that fascism/corporatism is capitalism. And the worse the economy becomes, the more violent and unstable the BRA will become. These are incredibly dark times we are living in. God help this rotting, decaying cesspool of corruption called the Banana Republic of America (formerly the USA).

    • Lennie Pike

      Rush Limbaugh, Sean Hannity, Mark Levin, Neal Boortz etc. are morons or liars for a paycheck – more likely morons. Their subject matter is limited to very unimportant topics to divert from the incredibly important events that have been taking place lately. If they are morons instead of liars, whoever (I wonder) owns the radio stations, really knows how to pick em.

      They’re morons because they are all extremely self-absorbed egomaniacs. They’re enjoyment of life is approaching the end because they will very soon have a “Bridge Over The River Quai Moment”.

      They will probably wind up sobbing and shivering in the fetal position trying to hide under their desks when they realize what they have done.

      • Highspeed

        Not Rush. Don’t you know, Rush is always right. Hell will freeze over before he ever admits he was a tool.

        • El Pollo de Oro

          Highspeed: When Rush “Pillhead” Limbaugh was threatening to move to Costa Rica is so-called “Obamacare” (also known as “Romneycare”) passed, I said, “Yeah, right.” Perhaps Pillhead would have been OK in Costa Rica, which is one of the safer countries in Latin America (along with Chile y Uruguay). But if Pillhead moved to El Salvador, Guatemala, Honduras, Colombia, Mexico or Bolivia, he’d better have the best bodyguard imaginable because his message of “I’m filthy rich and you’re not. Ha ha ha ha ha! Hee hee hee!” would not go over too well in those countries, where kidnapping for ransom is pandemic and there are a lot of very resentful have-nots.

      • El Pollo de Oro

        Lennie Pike: I remember when that jackass Hannity was deeply upset because Obama put Dijon mustard on a hamburger. Hannity’s face was turning red with anger; he was so traumatized. Of course, anyone with half a brain said, “Millions of Americans are out of work, over 50 million Americans lack health insurance, the American middle class is being killed off, we’re looking more and more like a Third World banana republic–and you’re worried about what the president puts on a stinking hamburger? THAT’S a major issue to you?”

        Sean Hannity–corporate apologist, party hack, neocon reactionary and self-proclaimed culinary expert all rolled into one.

        • Lennie Pike

          That was a pretty good one El Pollo de Ouro. Yeah, that’s sounds like him alright – goes ape shit about mustard.

          This doesn’t really mean anything, and I don’t know why I keep thinking it, and maybe I’m beginning to lose it, but since we’re being funny, has anyone noticed how Sean Hannity’s voice sounds a lot like Grandpa’s on the Munsters (same hair too), and Mark Levin sounds like Grandpa on the Munsters on amphetamines?

          • gary2

            and my rep paul ryan looks like eddie munster. my apologies to butch patrick who played eddie.

          • Michael

            Gary:

            I find it kind of humorous that the person representing you in the U.S. House of Representatives is Paul Ryan.

            Michael

          • El Pollo de Oro

            Lennie Pike: Yes, Hannity does have that Grandpa Munster thing going on. And it’s always amusing the way Hannity and Limbaugh followers become defensive and stamp their little feet whenever someone questions anything they have to say.

            Me, Myself and I: “Ross Perot was right about NAFTA, and Limbaugh was wrong. NAFTA has been terrible for this country just as Perot said it would be.”

            Dittohead Neocon: “Commie, commie! Rush is never wrong about anything. You hate America! Die, commie! Stamp my little feet! Stamp my little feet! Hold my breath! Hold my breath! You must be a liberal. Die die die!”

            Me, Myself and I: “I’ve referenced Ron Paul, Alex Jones, Gary Johnson, Ross Perot, Justin Raimondo, Gerald Celente, Katherine Albrecht, Paul Craig Roberts, Lew Rockwell and the late Irv Homer—not exactly a group of far-left ideologues.”

            Dittohead Neocon: “I’m still holding my breath! I’m still holding my breath! Rush is never wrong! Rush is never wrong! Megadittos, megadittos! Ron Paul hates America! Boo hoo hoo hoo hoo…….I want my mommy!!!!!!”

      • knightowl77

        Lennie, you said a lot without saying anything of substance…If you had just said you don’t like conservative talk radio, you could’ve saved 3 paragraphs….
        Basically you had your rant without a single fact to back up your opinion. I hope you feel better now, that you had a chance to vent?

        • Lennie Pike

          knightowl77,

          It’s just that I split up what I had to say about those stooges into two different posts – check the date and time of the second. You probably saw it after it was too late.

          I like to give substance too.

          I agree with a lot of what all of those talk show hosts say, but the topics they never talk about or allow callers to talk about identifies them as liars and stooges for TPTB. With most of the MSM owned by a very few now – all members of the mafia that runs the U.S., what would you expect?

          One can speak mostly truth, give nothing but verifiable facts, hardly ever speak an untruth, and still qualify as an extremely biased liar by using the art of omission.

  • McKinley Morganfield

    You have to appreciate the term ‘liquidity support’ to understand what blood sucking vampires Bernanke, the other central bankers, and the CEOs of the too big too fail banks really are in the direct sunlight of Main Street. ‘Liquidity support’ in the common tongue translates as more debt.

    • Jake

      McKinley, You sound an awful lot like Muddy Waters.

      • McKinley Morganfield

        The journey may be long or short, the ultimate destination is always unknown, but the scenery along the way makes the trip worth the effort; so if you don’t know where you’re going any road will take you there.

        • Jake

          Every once in a while I have to get away from the subject at hand and just converse with another poster. My mind gets numb otherwise.

          Great name BTW.

  • Silver Bean

    My old man always said that the two lowest forms of life on the planet are bankers and lawyers. This prooves his point. Fortunately he passed away 15 years ago and isn’t having to live through this mess.

  • Mark

    I have found that bankers are among the most evil people on God’s green earth. The gov’t is run by the big global banks. For a long time this was not general knowledge. They could have given to people but that’s not the game. It’s about enriching themselves.
    That’s why people are walking away from their mortgages. I just started focusing on the PMI I have been paying. That’s just outright theft. I have paid for 6 years now even though I am 54 yrs old and always have paid my bills. Never had a foreclosure, bankruptcy, bad credit, etc. I get a pension every month that covers the mortgage with no problem so it’s not job sensitive. They still won’t take it off my Fannie Mae mortgage.
    I’m thinking of using the PMI insurance I have paid for and walking away as well. As a member of the middle class, I’m sick and tired of getting ripped off!

  • Alice Maxwell

    It all sounds frightening until you begin to think about what this really means.

    Have you looked at your wallet recently? How many credit cards do you have? How many other accounts that you use your computer, your phone, your apps to use? Have you totalled up the credit you have? have you added this to your networth?

    This is what is lacking in this presentation. The Federal Reserve is not just involved in cash but it must deal with incalculable amounts of credit enjoyed by billions of people, millions of industries,businesses and thousands upon thousands of government entities worldwide.

    I can remember TV shows in the last fifty years where people showed they had a hundred credit cards and they had a very modest income. One man said he made $50,000 annually but his credit card limits totalled a million!

    Have you any idea of the amount of money involved in this cashless economy? It is mindboggling and we have all had a hand in promoting it, the little guys even more than the big ones!

    This is the problem of the banking system worldwide. This float is almost impossible to tabulate yet each day business comes in with its receipts, and they are creditted to their accounts, loans paid from the funds, more credit slips than cash are involved.

    Free marketeers never seem to take this in to account! They keep talking about dollars and gold and backed currency yet the credit transactions even by the little guys are many times the cash ones! So much for your debased currency complaints! You are all hypocrits!

    The world banking system just went along with what the public enjoyed but the problem was no one had a handle on exactly how much was awash in the national system here, let alone the global one! Remember the credit card was a unique American invention! It has gone worldwide!

    The technology innnovation has begun to tabulate the amount of “float” in the entire world system. It does not have a definitive total yet but it is getting there. It is not just fat cats who have taken advantage of the world’s most liberal acceptance of credit. Everyone of you who uses plastic enjoys it too and many are living far beyond their means, have been for fifty years. All this is just being tabulated now and if you think 16 trillions to clear these accounts in the banks is a lot, get prepared for more to come.

    The USA has the best standard of living in the world and we have not paid for it yet! We all have been living on credit and we will continue to since there is no way back to hard currency! What is true for us, is true for every country that accepts the credit card!

    Our world is global thanks to all of us with the plastic in our hands! I understand we are going to be able to just swipe our apps, phones et al without any signature and just guess how billions of little people are going to abuse that! We will all be amongst them.

    Entitlements are well named. You all have seized them and enjoyed them, from the first to eat out, then to purchase all life’s need and even to getting your universtiy education with them. You had to know there would be an accounting sometime.

    The Federal Reserve has just begun to give it to you. It worked with the banks re this phantom transfer of wealth which you all had a part of and that’s why it made these extraordinary transfers. That credit that you used, paid small installments to enjoy is what built this glossy world but the banks are charged with laying it off somehow. They just told you what the cost of your binge has been and it isn’t all in yet!

    There is no such thing as a cash economy today anywhere. You are all neanderthals if you think Man lives by the dollars and cents he carries in his pocket. That went out fifty years ago and you are just getting a glimmer of the real cost of your lives now.

    Do away with the Federal Reserve and all central banks. You are fools. Just try to live with what you carry in your pockets!

    • McKinley Morganfield

      Alice,

      Chill for a moment…. I understand and sincerely appreciate your sentiments, but please do not assume everyone is a hypocrite. My gut feeling who post here are not.

  • Steve

    The Obamites call this “Crashing the System”.

  • 007

    The unemployment rate went down to 8.6 from 9. However before you celebrate, consider these facts.

    The rate drops as a result of two components (a) 120,000 jobs created in the private sector and (b) 356,000 people just gave up looking for work.

    Using simple math one can see that if these dicouaged workers were counted the actual rate for the month would be approximately 9.4%.

  • Lennie Pike

    You will never hear any of those four stooges I mentioned discuss the following:

    The Federal Reserve

    The name Ben Bernanke

    The name Timothy Geithner

    The name Larry Summers

    The name Hank Paulson

    The name rothschild

    The fact that most of the above (in effect all) work for the Obama Administration – or does the Obama Administration work for them? You will hear them claim that Obama is waging class warfare against the Elite. Obama’s strategy may be to do just that in the future, but now he is solidly on the side of the Elite carrying out their orders. It could be that Obama is just letting out line and setting a trap for the Elite Fascists and by doing so, at a later date he will have total ability to place the blame on them and then lead all of the fools willing to follow him into hell – it will be a lot worse than Fascism, you can believe that. Excuse me, I went off on a tangent.

    Ron Paul

    The Patriot Act, etc.

    Glass Steagal Act

    Derivatives or their regulation

    Regulation of any type (for Fascists)

    One sided trade deals and who benefits from them.

    Ex-U.S. industry building factories and using slave labor in China etc.

    ***************************************************************

    Capital Gains Tax, or the fact it is 15% – however they love to make the claim that half of Americans pay no income tax which is a lie. Many pay none, but it is no where near half, (many might half to pay $12 or maybe $23 which hurts and is a huge insult. Even if half did not pay income taxes, how many other taxes are they required to cough up out of their $8 per hour? IT IS ILLEGAL FOR INDIVIDUALS TO PAY INCOME TAXES ON THEIR LABOR!!!!! Look it up!!!!!!!! or watch America, Freedom to Fascism – a great documentary of truth.

    There are many other topics – the most important ones, that you will never hear these scumbags address – they can’t be that stupid so heartless scumbags is what they must be.

    The NWO one world government

    The Council on Foreign Relations, etc., etc., etc.

    The task of these four idiots and just about anyone else allowed to have a radio show, is to keep Conservatives blind as to the coming hell the Worlds Fascist Elites are implementing.
    The preceding was from a Conservative – just one who loves the truth, freedom, and fairness – especially freedom, freedom to believe in The Truth – the Main Thing these pricks hate.

    • knightowl77

      Lennie, all are valid points, remember that these guys are first and foremost entertainers with a point of view….
      The info on the topics you mentioned is out there, but for the most part, people must seek the information themselves, or they won’t accept it. Thats why you and I and thousands (maybe millions) of others are on this blog and blogs like it. Till the rest are ready to SEEK the truth, they will NOT accept the truth.

      • Lennie Pike

        knightowl77

        I just did the same thing you did – replied to your reply without scrolling down and reading your second post.

        I think you’re right.

  • kchu

    I am confused which number is correct $7.7 trillion from bloomberg or $16.1 trillion from GAO?
    I have another question for instance if Citigroup received $2.513 trillion from the Fed all of their financial problems will be solved why they still have a lot of toxic assets on their balance sheet like other banks?

    Did all of banks must pay back all the loan to the Fed within a period of time (just for a short term loan)? Otherwise, the Fed’s balance sheet will be more than $10 trillion not $2.8 trillion.

  • ROBERT MCCOLE

    IT LOOKS LIKE THOSE WHO WERE ELECTED TO PROTECT AMERICA HAVE BEEN WORKING AGAINST US. IT IS TIME WE GET AN INVESTIGATION GOING IN WASHINGTON AND SENDING SOME OF THESE PEOPLE TO JAIL FOR A VERY LONG TIME. READ THE BOOK “THROW THEM ALL OUT” AND GET AN IDEA OF WHO OUR POLITICAL LEADERS ARE REALLY WORKING FOR.

  • Italics Mine

    Now the banks need 16 trillion, and still won’t solve the problem? When did the banks become unionized?

  • Jeremy

    Michael,

    Great article. It is incomprehensible how much money is 16 trillion. Did you know it would take 32,000 years to spend $16,000,000,000,000 if you spent $1 million per day!

    This is truly obscene.

    • mondobeyondo

      Bill Gates and Warren Buffett would like to contribute $1 million of their personal fortune to the debt. That would be 2 days’ worth.

      31,999 years and 363 days to go. We can do this!!

      • mondobeyondo

        And that is assuming you are totally committed to this effort, and DON’T ADD ANY FURTHER DEBT!!! No more pork projects, no more rovers to Mars, no government road improvements in Iowa, etc. And the national interest rate won’t be near zero forever, either. Eventually, it will go up.

        As anyone with a credit card knows, it is extremely difficult, if not impossible, to get out of debt, without some big time budgeting (i.e. your own personal “austerity measures”).

        *sigh*

  • oleguy

    Alot of this came out some time ago and the only reason it is now knowledge is Bloomberg filed a FOIA request and it was denied. Took it to corut and they won. The data has been know for some time from the Fed you just had to look. I posted about this about 4 months ago and alot of people called me a liar. Others thought it was great and oh the others not posted by the author all were american corporations 125 of them to be precise. Our governemetn is where the OWS bunch need to be as they arfe allowing this crap to go on!! As long as politician have the law, courts and the enforcers on their side this criminal activity will continue. The government is allowing the Fed and banks to do this. We must stop this activity. Just last week this administration said they would do whatever it took to stop the Euro from falling and walla on Wednesday they bailed out several European banks!! Yes that is what happened and we as taxpayers are again on the hook for the money. I have had enough! Time to stop the madness.

  • Gary2

    Tonight, Senate Republicans chose to raise taxes on nearly 160 million hardworking Americans because they refused to ask a few hundred thousand millionaires and billionaires to pay their fair share,” he said. “That is unacceptable. It makes absolutely no sense to raise taxes on the middle class at a time when so many are still trying to get back on their feet.”

    • 007

      No, it was the democrats that Are raising the payroll taxes. Republicans offered a bill to lower them and theDems rejected it because they tried to pay for the cuts by freezing outrageous raises to greedy federal pitiful.

  • Gary2

    OK Rightie posters. Straight from Frank Luntz, at the GOP Governors convention this week. Here’s how you continue to defend income disparity & maintain the status quo for your 1% overlords:

    1. Don’t say ‘capitalism.’
    “I’m trying to get that word removed …replace it with either ‘economic freedom’ or ‘free market,’ “The public . . . thinks capitalism is immoral. If we’re seen as defenders Wall Street, we’ve got a problem.”

    2. Don’t say that the government ‘taxes the rich.’ Instead, tell them that the government ‘takes from the rich.’ “If you talk about raising taxes on the rich,” they say yes. But “if you talk about government taking the money from hardworking Americans, the public says no.

    3. Republicans should forget about winning the battle over the ‘middle class.’ Call them
    ‘hardworking taxpayers.’ We can say we defend the ‘middle class’ and the public will say, I’m not sure about that.”

    4. Don’t talk about ‘jobs.’ Talk about ‘careers.’

    5. Don’t say ‘government spending.’ Call it ‘waste.’ That’s what makes people angry.”

    6. Don’t ever say you’re willing to ‘compromise.’ …replace it with ‘cooperation.’ It means the same thing. But cooperation means you stick to your principles.”

    7. The three most important words you can say to an Occupier: ‘I get it.’
    ‘I get that you want to fix the system.”

    Republican solutions to the problem:

    8. Out: ‘Entrepreneur.’ In: ‘Job creator.’
    Use the phrases “small business owners” and “job creators” instead..”

    9. Don’t ever ask anyone to ‘sacrifice.’
    “There isn’t an American today…who doesn’t think they’ve already sacrificed. If
    you tell them you want them to ‘sacrifice,’ they’re going to be be pretty angry at you. You talk about how ‘we’re all in this together.’”

    10. Always blame Washington.”You should occupy the White House because it’s the policies over the past few years that have created this problem.”

    BONUS:
    Don’t say ‘bonus!…you’re going to make people angry. It’s ‘pay for performance’.

    http://www.jsonline.com/watchdog/noquarter/nonstop-campaigning-has-begun-in-walker-recall-kt39qa6-134940933.html?page=1

  • mondobeyondo

    I should change my legal name to “J.P. Morgan Chase IV”, and write a letter (oops, I mean send an e-mail) to Mr. Bernanke himself. Imagine the shock!

    Bernanke: “Really? You’re Mr. Chase’s grandson himself?”

    Me: “Yes, sir! And I need your help, Ben. I’m a little short on cash, you think you could, um, give me a hand(out)?”

    Bernanke: “Oh of course, Mr. Chase! Anything for your great grandfather’s legacy! How does a billion dollars to your personal account sound?”

    Me: “I can live on that amount of money. Gee, thank you Mr. Bernanke!”

    Bernanke: “No problem! Have a Merry Christmas! And I’ll be sure Santa brings you a brand new Bentley for Christmas! Or would you prefer a Rolls Royce?”……

  • Eileen Dover

    I,Ben Dover, and my wife Eileen have calculated that by the time we are each approximately 350 years old,our debt will be slightly less than $2
    billion dollars……dump the FED and similar blood-suckers asap.

    • Highspeed

      What are your childrens names?

      I once knew a guy, Pull Dover.

  • Kathy Herron

    my problem is the same as a lot of people’s, I have been telling my friends that this was going to happen for ages, and no one believed me … called me an old fool … well … yeah … I’m old – 62 … but I am not a fool … people need to be stocking up on their groceries … if you have air tight containers for your sugar, flour, tea, coffee but(esp. non-perishables, canned veggies, milk, fruit, cake mixes, )… and if they have a freezer, then stock up on their meats, sugar, flour, anything you can think of that you can use … also, if you might want to consider bartering … if the dollar becomes so devalued that we can’t use it … bartering is one way to go … everyone has a skill or service that they can trade on … whether it be sewing, cooking, baking, hair-cutting, anything … at least these are some of the suggestions I was trying to make my friends see that we had to work with.

  • 007

    Anyone want to know what we will face when this all collapses? This author has done a great job of making the best articulation of the problems we will face. It is very scary though.

    Hope this helps some people.

    http://www.scribd.com/mobile/documents/62910615/download?secret_password=2cgqxdq82gef7x8eatpl

  • Erin

    I can’t count the number of ironies in having someone from Chile comment on RT on the failure of people being enraged by the actions of the FED. This is twilight zone stuff.

    http://maxkeiser.com/2011/12/04/fed-loans-worst-crony-capitalism-in-history/

    The real story should be why has the MSM totally ignored what has been happening. There is no news, there is only advertising. Fox News has become the PR mouthpiece for the US ministry of war. MSNBC is a circle jerk of old school lefties. CBS does not rate. It is Bloomberg to the rescue with their FOIA lawsuit against the FED.

    The people are simply not being informed, there is only a handful of journalists on the internet followed by a few with enough interest to search for real news.

  • Suetonious

    Things will never make sense until you get to the point where all these insane developments DO make sense, in that they indeed never did and never will make intrinsic sense – but were shoved down your throat along with mind-numbing “stand Reality on its head” propaganda (to overcome the natural gag reflex), all as part of a macro-template to destroy you and the nation.

    Then it makes perfect sense.

  • shypuffadder

    I was on the RT.com website trying to figure out why we keep giving money to Wall Street and ignoring the taxpayers. I listened to one analyst describe it this way: Wall Street and the TBTF banks are like the Maffia. Businesses pay protection money to the Maffia or their businesses will be burned down. The fed pays Wall Street and the big banks because if they don’t, Wall Street and friends will collapse the economy. If the economy collapses, people will only remember that it was during the Bystander Obama administration so it was their fault. So, even if we do elect someone else, the same threat will be there.

    Our entire economic system is being held between a rock and a hard place. “Give us everything we want or we will take this country down.”

  • William

    This is all meaningless. WHY?? Because YOU will go to the polls in Nov of 2012 and vote for the very same IDIOT who represents you in the US Congress, sending them back for another term in office. Nothing will change because:

    1) the Obummer is a total and complete failure
    3) Too many Americans actually believe the official 911 report, whihc is a TOTAL LIE.

    *************************

  • RevBryan

    Michael,
    Reed Richards is correct in that we ought not support any Neo-con demopublican/republocrat. Dr. Paul is the only choice; but if he is not on the ballot, then it will be a third party candidate who supports the things that Ron Paul advocates. We may have BHO for another term, but we should not cave in to “expediency in voting for the lesser of the two evils” because in point of fact, aside from Dr. Paul, they are either evil or clueless pawns of the globalists.
    In times past, there was a noticeable difference (at least rhetorically and in action) between the two major parties. Now, veneer has worn away revealing their similarity, or rather, their similarity in who controls them. God bless.

  • PAUL LEO FASO

    Yes I have heard about the $16 Trillion theft by deception – Have you heard about the 300 Trillion Dollar Class Action against the Federal Reserve Bank and the R.I.C.O. Act to prosecute the criminals?

    GOOGLE: CLASS ACTION LAWSUIT AGAINST THE FEDERAL RESERVE BANK

    Or follow the link below to stop financial sodomy now.

    http://www.zerohedge.com/print/365866

  • Jo

    I think if the FED gave every American 120,000 instead of giving it all the money to banks, it would just invite more Derivative bets by the banks hence leading us deeper into trouble.

  • Antonio Gonzalez

    USA is a private bussines is the law, then easy…easy…….

  • Gary2

    Remember, we were conned once:

    1. An unfunded off budget tax cut mainly for the very wealthy.
    2. An unfunded off budget war in Afghanistan.
    3. An unfunded off budget war in Iraq.
    4. An unfunded off budget prescription drug law without price negotiating
    ability. Welfare for the pharmaceutical industry.
    5. 750,000 monthly job losses.
    6. Collapse of the housing industry.
    7. Collapse of the banking system.
    8. Wall street bailout.
    9. Budget deficits as far as the eye can see.
    10. An approaching depression if not for President Obama’s actions.

  • Gary2

    Hey-Michael-can you do another about underemployment? Ths following can get you started.

    According to the study, to be released Friday by the John J. Heldrich Center for Workforce Development at Rutgers, just 7 percent of those who lost jobs after the financial crisis have returned to or exceeded their previous financial position and maintained their lifestyles.

    The vast majority say they have diminished lifestyles, and about 15 percent say the reduction in their incomes has been drastic and will probably be permanent.

    http://www.nytimes.com/2011/12/02/business/for-jobless-little-hope-of-full-recovery-study-says.html

    • bobbobbobbob

      ur very intellegent GARY 2 but urrr spitting into the wind. amerikakans r too stupid to know the facts. they rr mindless idiots who vote on button issues like ocare medical (for the masses); obama is black (racists); worship snakes(religious idiots); the crazy flag issues ( i live in great country)yea sure!!!– they will die in the street and be used as cadavers. amerikakans offer the world kaka.

      • bobURdumb

        bobbobbobbob, though I generally agree with you, and I’ll guess that a fair number on here do — Your choice of dumb-ass style over substance leaves YOU sounding like a kaka-brained idiot. Why can’t people like you just write like you mean it when it counts?? When the ***** hits the fan here, we will all be trying to figure out who to side with, who is competent and just, who we can trust. Your opinions are in the right direction, but you sound like a self-serving sociopath, and you can’t organize your thoughts for ******. :)

  • Peter M Allison

    I actually look forward to the collapse of the financial system. I believe the best chance for this planet to move forward is for the current civilization to dissolve, disintegrate, devolve and die. There are too many scumbags trying to get rich quick. If you are not perceived as having wealth you have no credibility. What has all this wealth creation, productivity, progress achieved? We have a planet in crisis with climate change, raising sea levels, crashing fisheries, diminishing wildlife, destruction of forests, depletion of agricultural soils, lack of fresh water, peak oil, endless wars over oil. This civilization is doomed as was every civilization which preceded it. Get used to it.

    • digitalperformer

      Peter, you are not alone. I feel the same way. The reset button needs to be pushed. We need to relearn how to live again.

    • Greg L Cassingham

      I agree with (Peter M) let it crass it will be hard on meany but no Les than it has bin look where we are now and where do you we will be if the trend continuous?

  • Roger Stoddard

    This is all because he is NOT and American citizen. If he is hiding his birth certificate, which each one of us Americans have he would have produced it. What Obama is doing is Treasonous. Go Sheriff Joe.

    • Rocky

      You have to be kidding me! I don’t know where you have gotten this information but where were you when President Obama’s birth certificate was published for public viewing? That is one of the main requirements for presidency, don’t you think if he wasn’t a U.S. Citizen, he’d definitely not be the president of the Unite States??? C’MON! Please do your research and apply some common sense here. Maybe you’re just a little uninformed, Here is proof, now pick something else to dislike about him and move on!! http://www.whitehouse.gov/blog/2011/04/27/president-obamas-long-form-birth-certificate

      • Yadda Yadda

        Whatever dude u do ur research, its fraudulent and made by photoshop. Proven.

  • http://www.huffingtonpost.com/scott-baker Scott Baker

    *** READ THIS ***
    The Fed itself has responded to these charges today in a letter that was cited in Forbes Magazine. According to them AND the GAO report cited HERE, the 16.1 Trillion dollar figure is WAY off-base. You are talking about an AGGREGATE amount of ALL loans made, most for 30 days or less. The total amount outstanding at one time was never more than 1.5 trillion – a VERY BIG difference.
    GET THE STORY STRAIGHT!

    • Lennie Pike

      That settles it then – we will all just begin to believe everything the Fed says now.

      • http://www.huffingtonpost.com/scott-baker Scott Baker

        No, the GAO report confirms it too. READ the link.

    • Boogles

      So Bernanke is saying the Fed audit was incorrect then?

      You’d think that they would have hired a professional capable of understanding exactly what it is they are auditing.

    • Reed

      Just because the Fed says it was wrong, doesn’t mean it was. And even if it was only 1 trillion, it was still illegal. Your arguement just distracts, and doesn’t change anything. If you still think that the Fed is helping us I pity you.

    • jasien

      Why would you believe the FED or the GAO which is Government entity? Their are all liars their not going to tell the truth they are owned by Wall Street! And Media is also owned by the same criminals! Do you expect all these people to say oh you caught us oops!

  • Kent Harris

    Should we be amazed. Quite simply, we have forgotten what ultimately matters and that is living according to the principles of the Bible. No society can live beyond its means, but as a society we no longer value it. When you create more laws and more regulations versus to love God and to love your fellow man then you have society which turns into every man for himself.

  • Tony N

    I found this surfing a Blog on How Mitt Romney’s Bain Capital works . He will fit right in with the Gangsters .

    http://newtgingrich360.com/forum/attachment/download?id=6433548%3AUploadedFile%3A28048

  • Bill

    What about the fact that these short term loans give the financial institution reserves… which are then used to create even MORE loans to their customers thru fractional reserve banking (at 9 times what they hold in reserve)? These loans were given to give liquidity to the banks so they could make more loans. Maybe the outstanding balance at one time was only $1.5 trillion… but they use that to make more loans, pay the original loan off… do it again… and again… how many loans can a bank make in 30 days?

    Hhhmmmm….

  • Kaleb

    This video was inspired by this article. It involves 167,000 pennies and is going viral! It will surely provoke an expletive from you. Check it out!

    http://www.youtube.com/watch?v=3dl1y-zBAFg

    • Michael

      Interesting video!

      Michael

    • http://decon.dk/ Wilhelm

      Agree. It’s an interesting video, but I don’t think it really went viral (the illustrations/pictures aren’t that good).

  • http://nil William J. Doyle

    Since we all presently know (from reading Joseph P. Farrell’s Book Babylon’s Banksters) that Dr. Li’s Gaussian Cupola Formula aka
    CDS and CDO’s was ersatz, bogus and a Trojan Horse from China designed to Crash the Capitalism System, based on High Financial Crimes, and that this rubbish was spread like Wild Fire In a High Wind by AIG, and the Entire Financial Services and Banking Community in the US and UK in an Orgy of Criminal Profiteering harkening back to 1929 when JP Morgan and his Business Associate JD Rockefeller purposefully caused the Great Depression of the 1930′s-through-1943 to collapse prices, destroy competitors equity, and provide the JP Morgan-JD Rockefeller Associates to make Vast Accumulations and Consolidations of All the most desirable asset classes – Why is Wall St.
    Not In Prison? Where is the FBI and the Justice Department? Is Matt Taibbi in Rolling Stone Magazine the Only American Awake at this time? This is one huge Financial Crime. Arrest G.W. Bush now!

  • http://nil William J. Doyle

    Since we all presently know (from reading Joseph P. Farrell’s Book Babylon’s Banksters) that Dr. Li’s Gaussian Cupola Formula aka
    CDS and CDO’s was ersatz, bogus and a Trojan Horse from China designed to Crash the Capitalism System, based on High Financial Crimes, and that this rubbish was spread like Wild Fire In a Hot Wind by AIG, and the Entire Financial Services and Banking Community in the US and UK in an Orgy of Criminal Profiteering harkening back to 1929 when JP Morgan and his Business Associate JD Rockefeller purposefully caused the Great Depression of the 1930′s-through-1943 to collapse prices, destroy competitors equity, and provide the JP Morgan-JD Rockefeller Associates to make Vast Accumulations and Consolidations of All the most desirable asset classes – Why is Wall St.
    Not In Prison? Where is the FBI and the Justice Department? Is Matt Taibbi in Rolling Stone Magazine the Only American Awake at this time? This is one huge Financial Crime. Arrest G.W. Bush now!

  • mamat

    I was looking for a sentence to understand this issue,someone in this tread click my mind – it is and extortion by ‘Mafia’ aka ‘???’, you don’t give us money, we’ll destroy America.

    nice

  • Bill

    It’s not a case when we will go broke or how.
    It’s already happened

    • http://brumleogbi.dk/ Karl

      Think you are right about this. It’s already happen, so now we need to focus on how to get back on track again.

  • Norm

    RON PAUL 2012!!!! Lets get rid of these scumbags!

    • Thomas

      HELL YA!!!

  • Pingback: The Libertarian Review » Bernie Sanders Releases Explosive List of $4 Trillion in Bankster Bailouts

  • MajorBuckSnort

    In Jean Roddenberry’s star trek, mankind had united, and had done away with money, and reaped the benefits of a resourced based economy, no wars, greed and corruption had been eliminated, and technology applied, freeing humanity from mind numbing labor, and freedom to pursue their field of interest.
    Sadly Jean did not say how humanity freed themselves from the money changers who think they own the worlds resources, profit from arms and wars, and strive to divide nations by race, religion, and politics, and inside a nation by Religion, Sex, Race, Age, Economic Status, and Political Affiliation.
    Let the people of the world unite, and kill the rich, by doing away with money.
    The rich will thank us later…

  • FX

    Where is this $16 trillions? The world’s top 10 stock exchanges market cap totalled $36 trillions back in 2011; after 40% rise to June 2014, we would have $51 trillions in total market cap of these top 10 world’s stock exchanges, a difference of $15 trillions; How about total bond markets? How is yield so low after so much money pumping?

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