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First Audit Results in the Federal Reserve's Nearly 100 Year History Were Posted Today, They Are Startling!

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Rep. Ron Paul (R-Tex.) wins (again) the most significant victory of his congressional career. He has taken his pet issue since the 1970s–the unwarranted power and secrecy of the Federal Reserve–from something pretty much no one but he cared about six years ago, through a bestselling book and mass movement by 2009, the second time he’s gotten the House of Representatives to vote to widen the government’s powers to audit the Fed’s activities. Looking into the Federal Reserve’s management of money painted an interesting global picture, but individuals who are interested in wealth management can look closer to home.  

Check the story from Huffington Post with details about the vote, and on Paul’s Democratic ally equally upset with the Fed’s lack of transparency, Rep. Dennis Kucinich (D-Ohio):

In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.

The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out.

Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling:

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. 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. Why the Federal Reserve had never been public about this or 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 Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve 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.

“This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”- Bernie Sanders (I-VT)

When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses will eventually plunder the world economy.

The list of institutions that received the most money from the Federal Reserve can be found on page 131of 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

View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):

Federal Reserve Chairman Ben S. Bernanke participated in a live webcast of a town hall meeting with educators on Thursday, September 30, 2010 from 2:30-3:30 p.m. EDT. During this session, Chairman Bernanke answered teachers’ questions about the Federal Reserve and the economy.

Please Feel Free To Share This Link: /economy/2012/09/first-audit-in-the-federal-reserves-nearly-100-year-history-were-posted-today-the-results-are-startling-2449770.html

New Post, More Exposed:   /fedgate/2012/09/audit-the-fed-discovered-mainstream-media-blackout-money-laundering-scheme-confirmed-50-trillion-dollars-videos-2431900.html

Source: Sott

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    Total 116 comments
    • asterflower

      End the FED! End the INCOME TAX!

      • Praise Jebus

        you won post of the day! :wink:

        • HfjNUlYZ

          end income tax ok, live in huts with which doctors, no education, no security, the list goes on, are you people really that stupid?

        • Fred Flinstone

          Actually, you are “that stupid”! There are other ways to generate income for needed programs. The problem is you as well as others have been brain washed into thinking Taxes are the only solution. Do some research and attempt to climb out of the box you find so comfortable to live in.

        • Buffalo

          Heh buddy it always surprises me when men can bag the creator of everything & then be scared of mere mortals??

          I would look at changing my name if you have any brains…which I doubt

      • NothingToSeeHere

        Let’s make this possible! Tell the Obama administration to support S. 202 and Audit the Fed!

    • youngneill

      great post !

    • Freewilloffering

      Take a good long look at this report. American Taxpayers hard earned money is being sprayed all over the globe! This is what change looks like!

      • Anonymous

        This representation of the report is, by and large, a lie, thankfully.

      • Anonymous

        The FED’s money doesn’t come from taxpayers…

        • Anonymous

          You’re right it doesn’t come from tax payers it comes from thin air and put on the tab of the tax payers. Do your research before being so convinced, all the banks they bail out are owned by the very same people who distribute the money.

    • YellowRoseTx51

      As I have stated, this is a Company Store System of Babylon.

      By Latin Law, the Vatican is the Head of the Family; and this is who is the Head of the Covens of Azazel. They renamed themselves “Religions” and “Corporations”. The Babylon Slave queen Selene, whose Sumerian name was Inanna, created the Vatican/Freemason with Azazel who in Babylon was called “Massawa” the ‘great architect god’ of his Coven Freemason. They were to free him of his fate of the Pit. In egypt he was ‘Baphomet’, and created the Coven Caesar “CA-e-Czar” is “Coven Azazel had Master”.

      Selene’s god was ‘El’ which is short for Elohiem “With whom man is at war with in the War in Heaven”. She created the “Papal, Royal & Federal” Covens by Latin Claim of ‘Divine Right’ given by ‘god’.

      She created the Monetary and Banking system and the Corporations. This was to allow the lesser nobility to ‘gain their fee due’ from the slave populations as the Pharaohs did, and for this they revere her. It is Cannon Law: “Al, Il, El” are latin suffixes for god …El; “All names of gods must be in all capital letters”; “All Covens of gods must be in all capital letters preceded by ‘of’ to denoted ‘possessed by’ god; and must display their Registered Coven Symbol” which became called the logo. This is the Law that created ‘CORPORATIONS’.

      The Federals were made the overseers of the Slave populations and specifically over the Monetary system created by Selene; by Latin Claim of Divine Right. Look up the “Merchants of Moscow, 1560-1680″; although sanitized it tells of their use of Covet Means and its known outcome. Their name in latin law terms breaks down to “Fe-Der-Al” which is “Fee Due El” in the same way as ‘Fi-du-ciary’ is ‘Fee due Agent’. Massawa was made the ‘landlord’ of earth by the invading branch of SET(An) who were the Anunaki Owl(Inanna queen of the Moloch) and the El. This is why the Vatican claims to “Own all Land through Conquest and Discovery”. “OWN” is “NWO”. Every ‘flag’ that has a star in its symbols is a ‘Federal’ owned Nation.

      When the covens went ‘underground’ and became secret societies they simply removed this history from books, and codified the laws so that it was no longer open. The 1917 Geneva convention is missing because it listed the U.S. and other Nations as P.O.W.’s and placed the CORPORATIONS who are the covens of Azazel, owned by the Papal, as Overseers in control of all governmental bodies. Meanwhile the Covens duke it out for control among themselves.

      Right now, power is being transferred to the Dragon branch family, China. A new Company store ‘script’ will be issued – a type of yen. And Rothschild who now owns the whole planet as the Company Store Banker, will still be in charge. And because he is – and will continue to be – in China, he is out of US jurisdiction and any financial fraud will not touch him. Particularly if they manage to create enough cataclysms or by Covet Means, collapse the economies and leave the planet starving. As owners of the Corporations, they have stored up all the food supplies.

      Here is an interesting correlation. Perhaps some one who is more up on it than I, can find and match all the names between these two documents. They are STILL NOT SHOWING the owners of the Corporations, such as the fact that the Queen of England owned more than 98% of B.P. Oil when that so called accident happened. Or that N. Trust is the parent Corporation of the IRS. These are all corporations for Profit.

      If you trace these monies through the London bank it goes through that, to the Vatican.–the-capitalist-network-that-runs-the-world.html

      The top 50 of the 147 superconnected companies

      1. Barclays plc Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
      2. Capital Group Companies Inc
      3. FMR Corporation
      4. AXA
      5. State Street Corporation
      6. JP Morgan Chase & Co JP Morgan Chase: $391 billion ($391,000,000,000)
      AIG: $15 billion ($15,000,000,000)
      7. Legal & General Group plc
      8. Vanguard Group Inc
      9. UBS AG UBS (Switzerland): $287 billion ($287,000,000,000)
      10. Merrill Lynch & Co Inc Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
      11. Wellington Management Co LLP
      12. Deutsche Bank AG
      13. Franklin Resources Inc
      14. Credit Suisse Group Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
      15. Walton Enterprises LLC
      16. Bank of New York Mellon Corp
      17. Natixis
      18. Goldman Sachs Group Inc Goldman Sachs: $814 billion ($814,000,000,000)
      19. T Rowe Price Group Inc
      20. Legg Mason Inc
      21. Morgan Stanley Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
      22. Mitsubishi UFJ Financial Group Inc
      23. Northern Trust Corporation
      24. Société Générale
      25. Bank of America Corporation Bank of America: $1.344 trillion ($1,344,000,000,000)
      26. Lloyds TSB Group plc
      27. Invesco plc
      28. Allianz SE 29. TIAA
      30. Old Mutual Public Limited Company
      31. Aviva plc
      32. Schroders plc
      33. Dodge & Cox
      34. Lehman Brothers Holdings Inc* Lehman Brothers: $183 billion ($183,000,000,000)
      35. Sun Life Financial Inc
      36. Standard Life plc
      37. CNCE
      38. Nomura Holdings Inc
      39. The Depository Trust Company
      40. Massachusetts Mutual Life Insurance
      41. ING Groep NV
      42. Brandes Investment Partners LP
      43. Unicredito Italiano SPA
      44. Deposit Insurance Corporation of Japan
      Norinchukin Bank (Japan): $15 billion ($15,000,000,000)
      45. Vereniging Aegon
      46. BNP Paribas BNP Paribas (France): $175 billion ($175,000,000,000)
      47. Affiliated Managers Group Inc
      48. Resona Holdings Inc
      49. Capital Group International Inc
      50. China Petrochemical Group Company

      • Anonymous

        It’s scary how these bankers create money out of thin air to give to themselves. Less scary is a previous poster claiming the Queen of England owned more than 98% of BP. That’s a really neat trick for a person who doesn’t exist.

        • youngneill

          great point NotThisAgain :)

      • Anonymous

        Yellow Rose are right on target with that history… recently I had been hearing this same story a few times… I am seeing this all as a “house of cards” built by few on the backs of the “slaves”…
        When mankind was created and put on this earth part of the experiment was how well we learn about the dualities.. the good, the bad… free will and ego…
        When we look about on the earth we did not fare well.
        But now in this time of evolution..and ascension to the 5th dimension.. it will be interesting to see how this house of cards falls.. More and more is coming to the surface. The Age of Aquarius is about finding our TRUTH.. The deceptions are coming out..They will not be hidden for much longer..
        We are truly living in a very interesting time… I do soul path astrology and hypnotherapy and have just written a book about this journey… The Journey to Now and Beyond… The LIGHT shall prevail.

      • Kal Tuvis

        how about a lil background on the whole coven theory u discuss, to give it a lil context maybe. took me five minutes to digest ur first paragraph :) interested in learning more about it tho…

        • FreeYourMind

          Check out her video on youtube: The Lie Nasa Told – The Imminent Demise of the NWO

    • Anonymous

      This article claims that this audit of the Fed is in response to his legislation, which passed the House but NOT the Senate. The provisions to audit the Fed were contained in the Dodd-Frank act which was asigned into Law by President Obama in 2010 and is one of the Great Accomplishments of his Presidency. I know this because I have had discussions about this issue with my House of Representative member, Jim McDermott. Representative McDermott is an M.D., whose views are well based in Science and Reality.

      • Anonymous

        Did you click the link to the Huffington post article? If you had, you would have read the following:

        “the audit called for in the 2010 bill only focused on emergency credit programs and procedural issues, rather than on the substantive details of the lending transactions. The 2012 bill doesn’t limit the focus of the audit.”

      • rudrdude

        Other than puting his signature on it Mr. Obama had nothing to do with it. But his senate had alot to do with it as it was a watered down version of Dr. Pauls legislation that was a full audit passed by the house of reps. The senate reduced it to just a partial auditing of only specific stimulus programs. In other words, “a no audit”. The current bill that was just overwhelmingly passed by the house again calls for a full audit to be repeated every year according to the constitution. As soon as it got to the senate it was pidgeon holed by yours truly from the great state of Nevada saying that he wasn’t bringing it to the floor. As of now that is where it rests. Your prez didn’t build it and didn’t support it but used it as a face saver by signing it.

    • Danser

      Thank you so much for bringing this story to us!!!! :lol:

    • Anonymous

      2013 to the rescue. Nations do not know the way out of it’s insecurities, but the crushing “the rupture” of the kingdoms can be prevented due to prophecy interpreteation and also because false planted ungodly prophecy can be corrected if taken to the table of communication in order to take away the lie and co-exist in peace.
      False flags and propaganda are in the news and as we watch “The Green House Effect Poison Gases” or weahter disruption, we can see The Euphrates River drying up and other water supplies as well, but “Dams” and Dumbs and sink holes also farming are all helping to create the drought in the River euphrates, but Armageddon is not yet. Also Daniel 2:44,45 is not yet because first Tribulation must end and that can only happen with a miracle from God in Union and all Nations on Earth participating to make it happen. The Old USSR folded and East and West Berling re-unified and became one as an example that The World can become one in a United World Union with The United Nations=8th King Observing and adopting democracy, human rights, equality and GODYHWH with freedoms for all ungodly nations. The drying of The Euphrates is not for Armageddon and all those wars in the middle east are not the end time prophecy, but it is a push that will further the prophecy for The United Nations to Unite all the Unions to include The North American Union=NAU. America and allied Nations must stand strong in order to win over ungodly “NWO” members.
      By adopting an Erasable Deficit/Budget, Free Energy Futures and end to “Disparities of Wage Difference” There can be hope for America, Allieds and The World, but bankrupted and with ghetto world wars there is no hope of a woman ever having the chance to own a washing machine or a man farmer an electric tractor. What are your dreams?!.
      Do you know that a ufo, bank or dumb are costly and in cosntant error more costly. An aircraft carrier can cost $200, million dollars a year to maintain and may cost Billion$ to build. One tank can rust with out maintenance and they cost $4. million dollars. The internet has the list for many defence vehicles around The World.
      If the nations would move to work for peace they could conquer most things with God’s examples. God is making everything new, has increased knowledge, He is blink of an eye communication, in an instant this comment will post and GODYHWH knows every star by name and now humans can document and program to later extract every combining formula.
      America The Beatiful can become AMERICAUSA With toys and mansions for everyone. There are so many things that a human need and a roof, food, transportation and medical treatment are priority one. Thank You for your time to read. Please pass it on. Have faith and hold on. September 1st, 2012 SATurday, 7:24 P.M. EST. BY RRRQR8AE.

    • HfjNUlYZ

      Doesnt matter the USA is dead and gone… So at this point, print as much as you want.

    • Xinthose

      Wow, good job Ron Paul !

    • ElOregonian

      Ropes and nearby lampposts for these Bankster thieves ought to clean up the rotten spoilage known as man’s worst enemy here on earth..

    • Anonymous

      Um, look closely. The date on the post on Sanders’ webpage is July 2011.

      • Anonymous

        That’s what I’m saying. This article seems wholly fabricated, but I could be wrong. Someone care to explain?

    • Anonymous

      Why are we not seeing this in MSM?

    • Anonymous

      I was linked to this article and it seems fishy. It links to results posted by Bernie Sander “this morning.” But the article linked to is from July 21, 2011. As is the document linked to. I was also under the impression the audit the fed bill was easily defeated in the Senate.

    • Anonymous

      Yup. Conspiracies galore on this site. Just wondering if I should stick around to debunk, or avoid providing the site revenue by no longer giving it my traffic.

    • Anonymous

      The Federal Reserve epitomizes weak-willed Congress that has the constitutional power to coin money but deferred this responsibility to secretive manipulative bankers that have raped (raided) the people’s national piggy bank. Previously I have recommended that the $16 Trillion National Debt be balanced out by confiscating the $16 Trillion Balance Sheet of the FED that usurped that amount and now it is time to usurped back. Should a few fat cats gorge themselves at the public trough while the 330 Million peasants (regular down-to-earth citizens) have to grovel for a little gruel.
      Albert Maslar
      [email protected]

    • Anonymous

      “The American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs”. The American public is struggling to find out what a Trillion dollars really means.That is a lot of fake currency! :roll:

    • Pateriot

      Also, it states that the debt is 14.8 T. It is closer now to 16 T. The date of July of last year would be about right for that amount of debt. I call BS on this one!!

    • Levi

      Actually, the amount of unfunded liabilities of the USA is over 200 trillion… report is generated yearly but no one in the media seems interested in reporting it’s results. so sure, lets just keep thinking 16 trillion; easier anyway.

    • crabby

      it’s good feng shui , people sandwiched between 16 tril an 16 tril .. worth every penny

    • Anonymous

      TLF, PCDF, TSLF and other were repo auctions that were repaid in full (which is stated in the GAO FED Investigation), this money wasnt handed out indefinetly nor it was given without a collateral or a haircut. it wasnt a gift and it was repaid.

      now, another question is should it have been made available at the first place

    • Anonymous


    • Anonymous

      Fort KNOX..where is the GOLD! :wink:

    • Anonymous

      so if the USA printed its own Money and Backed it by GOLD the us would be Rich and not the Bankers! scum bags the Fed ! who answer to know one! :twisted:

    • HfjNUlYZ

      The vast majority of we Wage earning us, are Willing Now, to send diss-information back to the top one half percent of our U.S. Community.. The Authority to fool is in information management. Not Money. Mitt Romney will be responsible and cheered as THE MAN, who taught the nation to have ghost income. This is the forthcoming New Economy, The rich will admit they have been miss informed. Please remember the words of Martin Luther King… Unarmed truth, and unconditional love will be the final word in the new reality.

    • Josey Wales

      How it works,… How the Federal Reserve’s central banking system works in under 5 mins.

    • Josey Wales

      Americans are being robbed blind. Here is another video that may help people understand more about our country and the federal reserve.

    • Tea with FT

      When discussing issues of this nature, which can have dramatic serious implications for all, most especially for the weaker, it is extremely important to remain coolheaded and not allow the issue to be kidnapped by political agendas or by groups that decide to make a business, or a living, out of it.

      • Tea with FT

        If $16 trillion , is that surprisingly much or surprisingly little?

        How were the accounted by the recipients… income… donations from the Fed? If a French recipient for instance… did he pay taxes on that to the French State?

    • Banderman

      Now 60 or so days before the election, those pathetic democRATS claim they are upset with the Fed as well. DemocRATS are pathetic, shameless, and liars.

      • Gojiroiscoming

        In late 2008, before the RATS were in office, $16T was given out with 0% interest. Citibank alone received $2T.

        This is beyond simply reducing it to right/left political paradigms. Theres a whole different level of the game being played that we have no clue about because we see it through political lenses and caricatures on TV.

    • Josey Wales

      “We must go forward cautiously and consolidate each acquired position, because already the interior social stratum of society is giving increasing signs of agitation.
      Let us make use of the courts….
      When through the laws intervention, the c
      ommon people shall have lost their homes, they will be more easy to govern and they shall not be able to resist the strong Hand of the government acting in accordance with … the control of the leaders of finance.”

      (WE) must keep the people busy with political antagonisms.

      We’ll therefore speed up the question of reform of taxes within the democratic party; and we’ll put the spotlight on the question of protection… (for) the Republican party. By dividing the electorate this way we will be able to have them spend their energies at struggling amongst themselves on questions that, for us, have no importance what so ever.

    • f.Lindswy


    • massvocals

      massvocals I feel that this bankers scam of having a federal reserved international bank has only place America at great risk therefore we should and shall abolish this and return to art 1 section 10 lawful money , the presidents campaign now ongoing is joke other then Ron Paul and Gary Johnson there is only the dum and drummer dummies who vote for the distortion of the the whole issue asking for jobs and hope when there is only debt , my hope is that some patriots will step up and return the republic back to its form of constitutional understanding .
      if we see not this , we shall and should have a revolution with which we must declare and disclaim the progressive and republican parties who have been having a party for over 100 years , this must end and freedom must be restored , all laws before 1932 to date repealed , this must happen and true lawful money must be restore as the constitution states , The end of this means the end of the IRS and federal government take over the end by its means restores the truth and value of being a patriot in America anything less is means of war they have restricted everything even our right to weapons that we still have lets us call to arms our patriots and fight back for this land is for freedom not a license lie

    • HfjNUlYZ

      Two months before Kennedy was murdered:

    • adavancedatheist

      What if it turns out that Bernanke had to do this to keep something worse from happening? A generation from now we might consider Bernanke an unjustly maligned hero who had to do the best he could with a bad situation.

    • Anonymous


    • Anonymous

      SO ANY FED :twisted: FUNDING FOR THIS! we have a right to know scene you have open the BOOKS on the losers the Fed! THERMONUCLEAR WAR NOT KIDDING MAKE VIRAL :twisted: !

    • Anonymous

      What everyone should do is not pay their credit cards, how would they like that? After all, they owe us!!!

    • Anonymous

      if JFK was still alive the USA would print its own cash backed by Gold and be RICH TODAY!…oh but he was killed just before he was going to make it happen!and you Illuminati :twisted: fkers that killed him.and that are .out there! my emphasizes! ..and now you have the fed in place to make :arrow: the us a Debt slave! and the World you can …where the kiss my a$$ icon! :twisted: ….you need to be taxed 10,000000000000 % :twisted:

    • Anonymous

      I think it would be lovely to know just how much money is left in the Federal Reserve. I would also like to ask all of the people who thought Jesseis Ventura was talking out of his backside when he said to “FOLLOW THE MONEY” what they think NOW??????? Ron Paul IS the only candidate in this race who REALLY cares about us!!!!! He needs to be President!!! Thank you Mr. Paul

    • Se777en

      This is old news. This all came out last summer. What’s new about this?

      • Freewilloffering

        What new is that it us being brought to peoples attention after being totally ignored by the mainstream media.

      • HfjNUlYZ

        You are correct that this is old news and it was confusing me too but the only thing that should be changed in this article is the timeline…the facts are correct and i just got mad about the bankster thievery :twisted: all over again…as of now over 51,000 people have read this article here on Before it is News and that is a good thing

    • Anonymous
    • Anonymous

      Spreading our wealth around the world!
      What do you call this?

    • Anonymous

      The Federal Reserve is allowed to conduct itself in this manner because 1) the Constitution did foresee the possibility that this nation would ever attain such staggering wealth 2) the UNITED STATES took our currency off the gold standard in the early 70′s under Nixon who was looking for a way to pay for the war in Viet Nam w/o alarming its citizens. The is the largest part of our government and HAS ABSOLUTELY NO OVERSIGHT; BUT THE GREATEST ERROR IS THAT IT IS RUN BY POLITICAL INTEREST FOR THERE OWN INTEREST… just check your history… and ALAN GREENSPAN, although a brilliant man, allowed the continuing printing of U.S. DOLLARS, on which all world currency was based on when the gold standard was abandoned, which has ultimately lead to the 2008 melt down which those who disagreed with NIXON’S decision.

    • Wonkadelica

      This should be the final nail in Ayn Rand’s coffin. Anyone who still believes in her “self-interest” economics is clearly insane.

      There is still an estimated $600 trillion in unregulated, opaque toxic derivatives still unaccounted for. :evil:

    • Anonymous


      This is one of the primary reasons the Colonists started a war with the British Crown.


    • Lliam

      it is like putting the fox in charge of the chicken coup and then wonder why there are no chickens left

      These are the thief’s that crashed the market, double dipped the bailouts, and answer to no one…

      And OH Bomb ME put him in change of the US’s moneys…

      I you owe 500 bucks in back taxes your going to jail…

      If you misplace trillions of US dollars, you get a high ranking job in DC

      MAKES SENSE ???

    • Anonymous

      I think the problem is the Feds took ‘We the Peoples S.S.I.’ money, spent it and now everybodies money( Soc. Sec. ) is in the Federal General Fund, which can be had and spent by politicians by whom? Our federel gov. spent our Social Security money, They are running on empty…

    • Anonymous

      Um, this has nothing to do with the recent House bill. This was a partial audit whose results have been known and made public since last year. The bill that passed the House has zero effect until it passes the Senate and then made law. Get your facts straight, geez. :!:

    • HfjNUlYZ

      I would like to thank the us for posting the $’s amount it is staggering. i would also, like to make a statement if the USA was to put a single mother in charge to taking care of balancing the budget. I could almost guarantee that she could do it in less than a year. If not it would sure be a lot better that has been set by today’s standard’s. I know what it is like to live on a tight budget and not be on food assistance or welfare or anything else of that nature. And I know that there are a lot more people out there that has been there. Lets hope the next president will listen to the people.

    • Anonymous

      one problem I found with this article is, this…..

      First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!
      Saturday, September 1, 2012

      But the post O Sanders website has this date….

      The Fed Audit

      July 21, 2011

      so…’s not before it’s news. It’s old news

    • Anonymous

      Why didn’t they just pay off every mortgage in America so there would be no foreclosure crisis, plus we would have a bunch of extra money to put into the system and support businesses, manufacturing, etc.

    • Anonymous

      Andrew Jackson: “I will rout you out”. How many wars were started because of the bankers? Alot…. If people just started bartering amongst themselves this problem would dry up quickly. There are too many of us, strong, willing, but not organized. We have the arms and they know it, that’s why it hasn’t started yet. We can end this BS now but we must organize. The militarys of the world would be on our side. People are being arrested for selling there own farmed goods without gov’t intervention, and we are letting it happen. I know most people are too busy to work and raise there family and pay bills but it must happen. Sacrifices must be made, but it must happen. Enough is enough. Elections are fake, it’s all BS. For instance, how can a private bank issue debt without obligation and call on the people to pay the debt with no say so? Incredible, but it makes you think. Obama, and before him, created debt and each citizen is indebted for something likie $50,000! Please! I didn’t have anything to do with that and I am not paying. Screw them. Let’s start trading with each other. Another thing. Look at the mortgage business. You can buy a $200,000 home with 20% down for 20 years and you pay it off for alomost double for what you borrowed. What a scam…. We are suckers, cogs in the wheel….. Let’s get the revolution on and over with…..

    • Anonymous

      I saw the whole video (a well worth hour’s worth of time actually). I took notes and time stamped each section even:) Even though the video reveals the amazing transparency of the Fed who encourages students to think for themselves, I do not believe the person who wrote the article (Scott) actually watched his own video share, because if that was the case, he wouldn’t have had support for his pessimistic article. It is a bit deceptive to claim that the FED has been audited for the 1st time recently. It is just that Ron Paul has forced it to become a couple hundred paged public report. The GAO (Government Accountability Office) report shows how many years they’ve been in existence: Since 1921. Their July 2011 public report, forced by Paul (on the government “bailout” from the 2008 crisis) shows the defaulting banks and the ones that have paid it all back-this was all reported before Ron Paul got his “significant victory”. It is the 2nd publicly open audit initiated by Ron Paul, the July 2011, being the 1st. In section 41:54 of the video, the Fed chair Ben S. Bernanke admits that it was distasteful for the reserve to step in, but in 42:00 begins to point out how “most of the banks have paid the Reserve back with interest.” He also points out that another Great Depression like the 1930s would have happened despite the reserve’s reluctance to do it. In Scott’s article he rants saying “Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy”. This is another instance of the plague going around by some of Ron Paul’s followers, of convincing people things are much worse than they are, by using the “thin air” argument. Even if the money was created out of thin air, most of it has been paid back with interest, which means things are on the upward side. In 21:55 the Chair says “The recession was over in 2009 according to the National Bureau of Economic Research”. He points out how this doesn’t mean that the unemployment problem is solved; he reveals how they are separate issues. Also, in 15:41 he points out a misconception about Fiscal and Monetary Policies (some people see them as the same thing which is part of the hysteria), how Fiscal Policy (government spending and tax plans) is separate from Monetary Policy (The Reserve’s management of money supply). My conclusion is that Ron Paul and his followers prefer the US to be so Greedy that we don’t help other countries; and therefore, preserve the American Dream so that the rest of the world goes down. But they don’t see how this egotistical thinking will bring us down too! It’s kind of like a leg loosing circulation, having the answer to keep the blood flow, but then cutting it off anyway for an illogical reason under the guise of “well I didn’t need that leg anyhow”! Sometimes in order to accomplish a “selfish” goal, one must help out the competition. This is proven in business, with mergers and acquisitions, creating win win situations for everyone involved. If people like Paul get elected, they will stifle win win situations for the world in order to preserve the “we are American ideal”, without acknowledging the right of others to prosperity who are not citizens here. Stifling that right will ultimately harm our own prosperity. I’m not sure that is what the writers of the constitution intended America to be.

      • Anonymous

        It’s always hard to challenge the status quo, or people’s normalcy bias for that matter. To assert that the current economic system is functioning pretty much properly and those who oppose this banking scenario are right wing-nuts, overlooks some basic problems. First of all, why did banks need $16 TRILLION dollars from the Fed? On its face that challenges the implication that things are normal in the banking sector. Oh, it was because of a banking crisis! Really? And what might that crisis be? Did anyone learn anything about that on the evening snooze? Did the teleprompter guy read that banks are leveraged to dozens of times the gross domestic output of the entire world and the only thing they can do is throw more money at the monster?

        I don’t think a derivatives market that is growing somewhere towards the neighborhood of $2 Quadrillion dollars is a healthy thing. Now I wouldn’t mind so much if they were gambling with their own money, but they are gambling with public money and the monster is hungry. Even at that it wouldn’t make me angry, except if these morons can’t keep finding money to feed this derivatives Death Star, a massive de-leveraging is coming. Now that wouldn’t be such a bad thing either, except for the fact that the entire economic system comes down with it. And that is where you come in fine people. They have deregulated and created a system doomed to fail, and there are no backstops, no life preservers (except for perhaps a wealthy few who can defend their compounds). That is what really makes me angry, because this thing is so fragile, and billions of human lives are dependent on its daily operation – the carnage will be nothing short of apocalyptic. And no statesmen are available to stop this nonsense, to impose an across the board repudiation of all this phony debt, and to restructure the money and banking system through sound regulation.

    • Anonymous

      Obamas biggest donars
      Microsoft Corp $194,393
      DLA Piper $164,087
      Google Inc $144,430
      Morgan & Morgan $128,145
      Comcast Corp $114,950
      Skadden, Arps et al $107,324
      Sidley Austin LLP $102,015
      Time Warner $100,457
      Debevoise & Plimpton $91,576
      National Amusements Inc $90,684
      US Government $77,569
      Wilmerhale Llp $77,135
      Mayer Brown LLP $71,407
      Arnold & Porter $70,700

      University of California $1,648,685
      Goldman Sachs $1,013,091
      Harvard University $878,164
      Microsoft Corp $852,167
      Google Inc $814,540
      JPMorgan Chase & Co $808,799
      Citigroup Inc $736,771
      Time Warner $624,618
      Sidley Austin LLP $600,298
      Stanford University $595,716
      National Amusements Inc $563,798
      WilmerHale LLP $550,668
      Columbia University $547,852
      Skadden, Arps et al $543,539
      UBS AG $532,674
      IBM Corp $532,372
      General Electric $529,855
      US Government $513,308
      Morgan Stanley $512,232
      Latham & Watkins $503,295

      Notice some similarity’s in these two lists and the list of secret bailout recipients?

      • Gojiroiscoming

        The secret bailouts happened in October 2008. Before Obama took office.

    • Ruk9p

      The final act of the Fed should be similar to that of a Phoenix before it crashes and burns. The Fed should quietly, quickly and yes, publicly seek to locate and analyze the 1000-1500 most promising green technologies available for green energy, remediation, sequestration etc. and (from thin air) capitalize them all for rapid commercialization and job creation.


      Our new Dictator has “borrowed” Trillions of dollars and with virtually zero technological comprehension has willfully and illegally passed it out to many many crony, special interest companies under the guise of “green energy commercialization” while actively attempting to choose who the technological winners will be. Ignoring companies with many years of self funded R&D and technologies purpose designed and economically viable and ready to create jobs is not merely unethical. It is incompetent, conceited, and qualify as acts of high treason against each and every American citizen who has earned by ridiculous taxation to be treated as fairly as those in the know were repeatedly promised.

      He forgot his Secret Service protection is for a mere 10 years starting in November. Hundreds of thousands of rightfully angered actual American citizens haven’t, and won’t. How many have died from broken spirits for what BO has purpetrated against them, and us all. Karma is a stone cold bitch. Someday BO will be reminded. Properly so since he should be arrested and put on public trial for his crimes.

    • Anonymous

      Considering the “killing” the benefactors of this bailout received, and their lust for wealth that is unable to be quenched, I wonder if they think now that they should have tried to get $32 trillion? When will it ever be enough for these crazy ones at the pinnacle of power. Nothing is permanent – and their hold on power will also end.
      When the time is right.

    • Anonymous

      It’s all fine and dandy to become outraged but one has to remember that the US Banksters didn’t just bust American economy, they broke everyone else’ as well. The 2007 crash had its origins strictly and wholly within Wall St. The author of this article has no idea about how close the entire world economy came to collapse because of the 2007 crash and I am not at all surprised that it took 16TUSD to shore the golbal economy up. The US owed it to the rest of the world for the heinous crimes of Wall St. bankers.

    • putupjob

      The very astute readers of Before Its News have known all this for some time. I first saw the evidence here back in 2011 and determined it was factual after tracing it.

      Whenever I bring any of this up with other people, it’s just numbers, they give me a blank stare because they don’t comprehend numbers or they give me the jaundiced eye that this is just all conspiracy nut stuff.

      With this kind of thing going on, what is our future again?

    • Anonymous

      No-thing is by chance here, the plan from the FED more thank likely was to be Audited all along, so one day they can forgive the debt by introducing a new system, not without a collapse first.

    • -kg-

      This should cause embarrassment to any who have ever criticized or pointed the finger of blame at one politician or political party or another over their handling of economics or any other aspect of their offices. By and large, they are but a “puppet show,” designed to placate and distract we, the “rugged individualists,” from the true power plays by those who are actually in control.




      • -kg-

        In retrospect;

        So much attention has been afforded the Fed in recent years, I can’t help but wonder if the Fed isn’t yet another “left hand” thrust to the forefront for our perusal? It would fit the bill perfectly; a secretive and esoteric “government agency” to draw the ire of the American public and deflect their attention from what would really cause massive outrage and grass root protestations, should it come to light!

        OK, I’m finished. Now I’m going to sit back and enjoy the puppet show.

    • theycallmemrchase

      This is what you get when you allow people who are only 1.2% of our population, have full, unfettered control of our banks and our money. Happens every time!!!!

    • Anonymous

      The data coming from Bernie Saunders website is dated July of 2011 and therefore would seem to have little to do with the amendment added to the Dodd-Frank Bill. Am I missing something?

    • Anonymous

      The US did not provide a “whopping $16 trillion in secret loans”. Just above the chart you’re quoting and is making rounds is this gem:

      “Table 8 aggregates total dollar transaction amounts by adding the total dollar amount of all loans butdoes not adjust these amounts to reflect differences across programs inthe term over which loans were outstanding.

      For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30business days would result in an aggregate amount borrowed of $300billion 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.”

      In fact, _Table 9_, which, if you can believe it, is right under Table 8…has values that are term-adjusted. There, Citigroup gets a whopping $58 billion. Admittedly, huge, but a far cry from $2.5 trillion.

      Now, the totals do rack up (mostly in the “and other, smaller loans” line item) to a total of $1.139 trillion. That’s a lot, but actually on the scale of “things the government does publicly”.

      Regarding the claim that the “whopping $16 trillion in secret loans” hasn’t been paid back…there’s at least one chart in the document that shows all loans were paid back within two years.

      From Figure 11, one can see that nearly all of the $1.139 trillion was paid back by the end of 2011. The majority was paid back my mid-2009. From the chart, maybe 10 billion is still outstanding, or maybe the tail has actually gone to 0.

    • Anonymous

      I see a treason trial, death and redistribution of personal assets of some Bankers!
      This is unforgivable and we probably don’t know the half of it. I knew big government and the FED was a bad idea to begin with.

    • HfjNUlYZ

      “While implied presidential authority has become the legal reasoning behind the President’s enhanced powers, his tools simply cannot control the outflow of cash.”

      Read The Entire Note “The Ethical Branch: The Solution To Perpetual Fraud” Here:

    • Anonymous

      I’m sorry, but this article completely misquotes the audit and misleads the audience. I’m unable to find anything about a $16 trillion bailout anywhere in the audit (considering the US monetary base is only somewhere around 2 trillion, and M2 at around 8 trillion), according to the audit the term-adjusted total loan amount is 1.13 trillion (over several years). The so-called “foreign banks and corporations” are international financial institutions with very large operations in the US; the fed rate has been 0% for quite a few years and that’s not even news. These weren’t money printed and given freely to banks; instead they were loans were given out so that banks would not become liquidity-strapped, in which case people and businesses couldn’t get loans, or worse, couldn’t even withdraw their deposits, the last thing we needed in an economic crisis. The rhetoric that “Federal Reserve bailed out foreign banks while Americans were struggling to find jobs” is completely ridiculous; the Fed actions of lowering interest rates, expanding loans, and so far two rounds of quantitative easing (since interest rates can’t be lowered below 0%) are classical examples of central bank monetary policy tools targeting at easing unemployment. Now, the efficacy of these policies is a different debate, but at no point in the audit does it point to some sort of widespread conspiracy as the article suggests.

    • Anonymous

      Ha Ha Ha Ha so funny !!!!!!! Can’t even fathom 16 trillion and everyone sits on their hands and stares stupidly at their screens . I’m a queen I will never lack for anything . Can’t happen in America . That’s in the third world this is America . It has been known for decades now that the FED was feeding Hitler our money while are boys was shooting at his soldiers . Ah , yeah , we’ve been stealing , I mean putting IOU’S in Social Security for years now . I don’t know hoe many trillions that adds up to and ah no we have never redeemed a single IOU , but , of course we’d not steal your hard earned money … and FAT ARSED Americans sat staring blankly at their screens as their Senators spoke on …. 401′s was burning and now they’re sitting in the street starring at their blank screens … I heard rumors of late that some were out in the streets shouting occupy something or other ,,, only echos of trucks rumbling by as they deliver some 1.4 BILLION hollow point 40 cal rounds to the good old boys at homeland security …….

    • Anonymous

      This is major news. Why is it not headlines? If it’s true it could start riots across the country. Maybe that’s why they’ve been training foreign troops and getting ready for martial law.

    • Anonymous

      Why is this article stating that this information was recently released when it was all released in July of 2011? Both the senator’s website and the GAO report are dated for over a year ago.

    • Anonymous

      This story is completely erroneous. The $16 trillion dollar figure comes from the sum of overnight loans that were renewed or flipped during the period of TARP, roughly mid-2008 to mid-2009. It’s not all new money. If a bank, for example, borrowed $10 billion and decided to keep it for 30 days by flipping it, in the Fed’s accounting method records that as thirty $10 trillion loans or $300 trillion. The $16 trillion is the toal sum of theses flipped overnight loans. It’s all explained on pages 132 and 133 of the audit. In total, about $1.1 trillion was lent out and over the course of a year and enough of that was flipped to churn up $16 trillion in rewrites on the Feds book. There’s also a chart on page 137 which shows that original $1.1 trillion was paid back, with interest.

    • drturi

      Looks like prediction #9 posted at came true…

      9. Many large financial banking Corporations, including the IRS itself, will be forced to implode and suffer their own restructure. Expect much secrets and abuses to surface from the IRS. New laws will be written to protect the IRS auditing its own self.
      Read the rest and remember these predictions were published last year in my book 2012 Moon Power.

      Gary Busey endorsing Dr. Turi
      Discovery Channel TV show
      World Feedback
      Incredible Orbs
      UFO legacy
      UFO radio show
      Predictions came true again!
      Articles on UFO -
      Nostradamus’ Curse –
      My battle with Cancer –

    • DaveB

      This would be the tip of the iceberg. The levels of theft and deceit run as deep as hell itself.

    • Anonymous

      This is a year old… disheartening nonetheless but it is link bait…

    • Anonymous

      So, now that congress knows about this what will they do about it? This is an outrage. No one is ever held accountable.

    • Anonymous

      nothin’ goin’ to kids. nothin’ goin’ to schools. :sad:

    • Anonymous

      It’s still going to be an incomplete audit,..again, still hiding the most important, sensitive and condemning parts of the fed from uis…just wait for the smoke to clear and see !

    • Anonymous

      I’m confused…

      “The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months”

      So why is the link to the actual text ( dated July 2011.

      Am I missing something?

      • olde reb

        You are correct. There have been many audits. The audit being discussed was from legislation entered by Mr. Paul and gutted by Senator Sanders to cover a one-time audit of very limited events–the bank rescue funds. Fox News and Bloomberg had used court action to produce almost as much of the information.

        The BOG is required by statute Title 12, section 247 to make a “full report to the House of Representatives…” annually. This annual report includes an audit of the 12 Federal Reserve banks and of the BOG. The RESTRICTED audit by a selected accounting firm is in accordance with guidelines set up by the BOG. Ref, for 2009. Numerous audits by the GAO for very restricted investigations have been conducted.

        Nowhere is there any mention of the approximately $8.4 trillion received and dispensed by the FRBNY from the auctions of Treasury securities (bill, bonds, and notes). It is alleged that more than one trillion dollars from the auctions is secretly given to the (unknown) owners of the BOG. It is additionally alleged the money belongs to the government and concealment and withholding it may be a criminal act. Ref. FEDERAL RESERVE HEIST,

        A mathematical analysis of the FR operation concludes it is a Ponzi scheme that will inherently confiscate the entire wealth of the Nation into the ownership of the (unknown) owners of the BOG. Ref. RIP OFF BY THE FEDERAL RESERVE,

    • Vitamin Lawyer Health Freedom Blog

      While the revelation of the $16T secret bailout did not come from the bill just passed by the House, it was the result of the good doctor’s earlier efforts that forced Congress and Admin to accept a partial Fed audit.

      Another Fed audit is certainly not a bad idea, but, what the world needs is to END the FED and a return to real (that means gold and silver) money.

    • Anonymous

      The printing presses haven’t stopped since Obama took office!

    • War Pony

      GET A ROPE~!

    • CaKe

      Wow! Good news! That’s weird lol……

    • O. Ryan Faust

      The 2008 economic crash was a fulfillment of prophecy.

    • Anonymous

      unfortunately not correct these are overnite funds, rolled nightly. if i borrow $100 million, and roll it 365 times, it will show as $36 billion ~~ etc etc Says this categorically on P130 last four lines. Not saying the big banks are good because they’re not, but the author of the article is mis stating the case. yet another quickly written missive

    • ElOregonian

      End the private banksters cabal.

    • Paynegrp

      The feds money Does come from taxpayers. When they borrow money to send to corps we pay. :twisted:

    • Anonymous

      these freaks need to be tried convicted and put to death.

    • Anonymous

      Unfortunately, this $16 trillion is pretty out of context and makes people arguably unjustifiably angry. If a person reads the report ( they’ll find there was never $16 trillion lent out. Over half of that (nearly $9 trillion) for example were in overnight loans that were recaculated daily. In other words if I lent you $1000 for 10 days it would be recorded as $10 000, put in context therefore the suppose $2 trillion lent to Citigroup is really only $10 billion lent out for 200 days. Those are the overnight loans, then you’ve got the TAF loans, which were 1 month loans, same principle applies but recalculated monthly rather than daily. Then there’s the TALF and AMLF loans that were intermediary loans and thus as the report states can’t be factored into the total. It’s worthwhile to read the actual report and understand the context before rushing to conclusions, and never a good idea to try and learn economics from a news source.

    • SFret

      We have met the enemy and he is us !!! – Pogo, 1960′s

    • Kal Tuvis

      i completely fail to comprehend how americans can learn about this stuff and not be immediately up in arms against it!!! the founding fathers would be puking sick with disappointment over how americans have squandered so great an inheritance.

    • crazy old lady

      Please tell me why Bernake and Obamashould not be fired? This is outrageous! It only takes a 12 year old to figure this out….and “they” want to raise taxes? Are you kidding me??

    • Anonymous

      A federal consumption has been proposed. It is the ONLY proposal to date that would end the IRS. It would replace all federal taxes with a tax on NEW GOODS and on SERVICES. The money would be collected along with state and local sales tax and funneled through to the federal government. The man who drafted it has calculated that it would be revenue neutral, not taking more or less from the people now, but doing it WITHOUT the IRS. Low income people would get monthly rebates and used goods would not be taxed.

    • Blahblahblah

      End the fed and the IRS, which is just the feds collection agency! The feds “money” is debt from the get go..
      We need to demand that we have our own money, why do we get money at interest, because its good for the gov, why are we in so much debt because of the gov, well its not us who is in debt now is it, lets make them pay for their own debt that they made!

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