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. This was,
therefore, a gift -- as well as a form of theft, from the American people, who
will for the foreseeable future be paying interest on much of this borrowed
money.
Why
the Federal Reserve has never been public about this, and never 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 millions of
middle-class Americans were rapidly falling into poverty or near poverty, as
they struggled to find jobs that increasingly were no longer there!
So how much good could
this 16 trillion dollars have done if it had been redirected into the United
States economy, on behalf of the people -- rather than be used to reward
the banks and financial institutions that triggered the financial and economic
collapse in the first place?
Let's
continue with the article from
Unelected.org to reveal the following facts:
To
place $16 trillion into perspective, remember that the GDP of the United States is only $14.1
trillion. Also keep in mind that t he entire national debt of the United States government,
after 200+ years of spending, is "only" $14.5 trillion. Finally, remember that t he
budget that is being debated so heavily in Congress and the Senate is, by
comparison, "only" $3.5 trillion.
So,
keeping in mind all the outrage and
debate over the $1.5 trillion deficit, try to swallow this very difficult
pill: There was no debate whatsoever about
whether $16 trillion would be given to failing banks and failing corporations
and governments around the world.
In
late 2008, the TARP Bailout bill was passed -- and loans "totaling" $800
billion were reportedly given to
failing banks and companies. But that
was a blatant lie -- considering the fact that Goldman Sachs alone received $814 billion.
As
it turns out, the Federal Reserve also donated $2.5 trillion to Citigroup,
while Morgan Stanley received $2.04 trillion.
The Royal Bank of Scotland and Deutsche Bank, a German bank, split about
a trillion, and numerous other banks received hefty chunks of the $16 trillion. So why did our government lie to us about
this?!
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