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Thread: Fed Reserves $16 Trillion Secret Bailouts - Excellent Adventure ahead with Bill Ted & The Fed!

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    Politics.ie Member Dublin 4's Avatar
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    Default Fed Reserves $16 Trillion Secret Bailouts - Excellent Adventure ahead with Bill Ted & The Fed!

    The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression.
    An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study.
    "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," said Sanders.
    "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
    The Fed Audit - Newsroom: Bernie Sanders - U.S. Senator for Vermont

    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
    The Silver Bear Cafe

    Just when you thought the Banking Crisis couldn't get messier after Peter Matthews (still) unrebuted statement to a Dail Committee that our Banks need another €60 Billion, when you thought the Eurozone couldn't get more exciting with that Berlo comeback matched with the arrival of Beppe G etc - well folks you were wrong!

    Here it is Mutthahs!

    Where will this Excellent adventure take us to now?



    It's gonnna get Raaaaaaaaaaaaadical Dooooooooooooooooooooooooooodz

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    Politics.ie Member Ulster-Lad's Avatar
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    We knew about this with the LTRO funds already. But it is good to remind people sometimes.
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Politics.ie Member Dublin 4's Avatar
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    Crossover there alright

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    Politics.ie Member seabhcan's Avatar
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    But... I thought printing vast amounts of money would cause hypeinflation... and it didn't...

    So have the doomsayers been proven wrong?

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    Politics.ie Member Dublin 4's Avatar
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    Dunno bout the medium but all this "Casino Capitalism" has consequences felt at home...

    Ulster Bank has begun sending out repossession notices to mortgage holders in arrears.



    Evening Echo — Ulster Bank sending home repossession notices

    We've gotta get the system fixed & flushing out the truth can only help...

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    Politics.ie Member LamportsEdge's Avatar
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    Thats interesting Dublin4. I knew that the German banks were lined up at the Fed Emergency window while the German government was busy running around in Europe publicly castigating 'feckless' countries and diverting attention from their own bent banks- one of which caused a U-turn by Merkel when she bailed out Hypovereinsbank with German taxpayers money.

    Hypo of course are part of the same Cash Gruppe of the German banks as Deutsche- which on that list has been bailed out by the Fed to the tune of $354billion.

    So much for German regulation and rectitude. And of course no-one is talking about the system German banks had of flying in executives to trade in worthless derivatives through the IFSC in order to avoid putting those trades on the balance sheets of German banks at home.

    Finally, no-one at all it seems is allowed to talk about the huge cloud of unwound derivatives hanging around the North Sea and unrepatriated to their owners in Germany. The suspicion is that the Bundesbank has taken ownership of all that and is allowing German banks to proceed with falsified balance sheets and massively understated liabilities.

    I don't hear much about the investigation out of Frankfurt by police there on suspicious trading activities and processes involving major German Landesbanks either.
    Whenever understanding exists, accepting or rejecting is unnecessary. (Fundamentals of a Gnostic Education).

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    Politics.ie Member Dublin 4's Avatar
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    You'll love this old reliable of mine Lamp

    Apart from 2 trillion euros ($2.7 trillion) of public debt, there are liabilities of another 5 trillion euros because of shortfalls in the social security and pension funds


    Germany Has 5 Trillion Euros of Hidden Debt, Handelsblatt Says - Bloomberg

    Still unrebutted by the German Govt since September 2011

    Maybe some joker on P.ie can rebut it for them

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    Politics.ie Member Ulster-Lad's Avatar
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    Notably absent from that list thus far is exactly how much the ECB got to date. The sums listed thus far do not total 16 Trillion.
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Politics.ie Member Dublin 4's Avatar
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    Quote Originally Posted by Ulster-Lad View Post
    Notably absent from that list thus far is exactly how much the ECB got to date. The sums listed thus far do not total 16 Trillion.
    and many many more including banks in Belgium of all places
    Have they an Annex in Brus?

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    All the greatest economists seem to have only one solution - Think only about now and kick the can down the road.

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