Congressman
Bernie Sanders Helps Strip Away The Lies
In
early November, Congressman Bernie Sanders revealed that in addition to handing
out $16 trillion (not counting the ten trillion in "currency swaps" that Congressman
Grayson pointed out), the Federal Reserve also owns the
financial agencies they are supposed to be regulating.
A
GAO audit referenced by Sanders revealed that many of the people who serve as directors of the 12 Federal Reserve Banks
come from the exact same financial institutions that the Fed is in charge of
regulating! Further, the GAO
found that at least 18 current and former Fed board members were affiliated
with banks and companies that received emergency loans from the Federal Reserve
during the financial crisis. In other
words, the people "regulating" the banks were the exact same
people who were being "regulated." For example, the CEO of JP Morgan Chase
served on the New York Fed's board of directors at the same time that his bank
received more than $390 billion in financial assistance from the Fed.
Getting
this type of disclosure was not easy because Wall Street and the Federal
Reserve fought it every step of the way.
But, as difficult as it was to lift the veil of secrecy at the Fed,
it will be even harder to reform the Fed so that it serves the needs of all
Americans, and not just Wall Street. Yet
that is exactly what we must do.
Mainstream Media Lies Re: The Real Size Of The Bailouts
To
sum up, we've so far seen that the Federal Reserve secretly created $26
trillion (out of thin air), without
US government approval. This adds up to
nearly a quarter million dollars per American household.
This
money, as stated at the outset, was then handed out to financial institutions
like Goldman Sachs, Citigroup, Bank of America, JP Morgan Chase, Morgan
Stanley, the Royal Bank of Scotland and Deutsche Bank.
Then,
lying mainstream media journalist-presstitutes reported that the entire bailout
added up to nothing more than $1.2 trillion.
They also said that "this is what a central bank is supposed
to do."
But
add up all the emergency loans the Federal Reserve distributed to banks
between 2007 and 2009 (when the American economy lurched closer to collapse
than anyone had previously thought possible) and it represents a much larger pile of money.
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