Bernanke Secretly Gives away Sixteen Trillion Dollars
In July of 2011, I was one of the first to bring to your attention to the incredible fact that the US Federal Reserve had secretly given away TRILLION dollars;
“The first ever GAO (Government Accountability Office) audit of the US Federal Reserve was recently carried out due to the Ron Paul/Alan Grayson Amendment to the Dodd-Frank bill passed in 2010. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, while leading the charge for an audit in the Senate, watered down the original language of house bill (HR1207) so that a complete audit would not be carried out. Ben Bernanke, Alan Greenspan, and others, opposed the audit.
What the audit revealed was incredible: between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments by giving them US$16,000,000,000,000.00 – that’s 16 TRILLION dollars.” Richard Mills
It gets worse, much worse, in fact it’s downright incestuous.Let’s do a follow up and see who, besides *foreign banks and corporations from Scotland to South Korea, received a large chunk of that money.
* Banks like JP Morgan benefited from the foreign bailouts – they are some of the largest creditors of the bailed out countries. Instead of having to write off their foreign losses the US Federal Reserve bailouts enabled them to be paid in full.
The Government Accountability Office (GAO) investigates potential conflicts of interest. The GAO did investigate the $16 trillion giveaway and laid out the findings but did not name names. Those names have now been released
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