http://www.unelected.org/20...ks-and-corporations/ The Federal Reserve’s 3.3 Trillion Dollar Bailout of Foreign Banks and Corporations
Posted by The Jolly Rancher on December 30th, 2010
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The Federal Reserve was forced by Congress to disclose over 21000 transactions made between December 2007 and July 2010, which were previously unknown to Congress and the public. These secret transactions resulted in over 3.3 trillion dollars being loaned at nearly zero percent interest to foreign banks, foreign corporations, and corporations within the United States. The 3.3 trillion dollar loans were not made at the behest of Congress, because any bill passed, or any legislative process at all for that matter. The United States public was not aware of the $165 billion dollars given to the United Bank of Switzerland(UBS) nor did the general public know about the $97 billion dollars doled out to the Deutsche Bank in Germany.
What is stunning is the lack of oversight of the monstrosity that the Federal Reserve has become since its inception in 1913. It is inconceivable that the central bank of the United States would lend trillions of dollars to failing foreign banks at the expense of US taxpayers. Propping up corporations and banks that would have failed otherwise while destroying the savings of Americans through inflation is theft. What benefit does the average American gain from their money being transferred to companies like Metlife, Toyota, and others? Even South Korea directly received some of the money printed by the Federal Reserve!
The data released by the Federal Reserve was the result of an amendment made by Congressman Ron Paul(R-TX), which would have resulted in a full GAO audit of the Federal Reserve, to the financial overhaul bill pushed by Democrats. The amendment to bill had been watered down by supporters of the Federal Reserve, but still resulted in a massive amount of data being revealed. The Texas Congressman, who will become the Chairman of the committee that overseas the Federal Reserve and US monetary policy in 2011, has stated that he will push for a complete audit of the Federal Reserve. After learning about a 3.3 trillion dollar bailout of foreign banks and corporations, one can only imagine what else the unelected Federal Reserve has done behind the curtains of secrecy.
By making high stakes loans to banks still on the verge of failing, the Federal Reserve has further endangered the US Dollar and the US economy. By making trillion dollar “donations” to banks in continents from Europe to Asia, the Federal Reserve has betrayed the United States and become the monetary printing press of the world. By “spreading the wealth” from taxpayers to bankers at Goldman Sachs and UBS, the Federal Reserve has stolen from hard working, average Americans and given to the banks that caused the financial crisis in the first place. As long as this treasonous, parasitic, socialist banking cartel continues to exist, taxpaying Americans will suffer and bloodsucking bankers and economists will thrive.
The Agency Mortgage-Backed Securities seem to be bank related bailouts, the Commercial Paper Funding bailouts appear to be for corporations, and the Term Asset-Backed Securities ‘Loans’(bailouts) are for retirement funds, pension plans, entire cities, and other interesting groups.
