Full audit of the fed passes the house commite with no opposition

[Purch]

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http://thehill.com/blogs/on-the-money/economy/235055-house-panel-clears-fed-audit-bill


Just to jog your memory, in 2011 when Paul and Sanders pushed through the Partial audit of the fed it revealed 16 trillion dollars in secret zero interest free loans to bail out American and foreign banks. Out of the 16 trillion, 3 trillion went to bail out financial institutions in England, France, Germany, Switzerland and Belgium. Whiles asset swap arrangements were opened with banks in the U.K., Canada, Brazil, Japan, South Korea, Norway, Mexico, Singapore and Switzerland.

To put it in perspective. They spent more in undocumented bank bailouts and institutions then we have in total national debt.

* Mind you this is not including the legal bank bailouts during the 2008 crisis, these were bailouts they did on their free will to help their banker and corporate friends.

These were some of the banks that gained the most money

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)


http://www.sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf

[opebo]

So in other words there is nothing to worry about - the Fed is secretly doing what sensibles wish it were doing.

[Purch]

So in other words there is nothing to worry about - the Fed is secretly doing what sensibles wish it were doing.

Right. Because the sensible, are apparently the ones who wants a federal reserve system owned by bakers, bailing out other foreign banks and businesses, whiles also bailing out American banks who nearly crashed the entire financial system. Of course it's not a conflict of interest to have bankers from AIG and J.p morgan on federal reserve boards receiving  funds whenever they make bad investments and sell toxic assets and essentially commit banker fraud. I mean why question an institution with zero check and balances on it's manipulation of money, I mean why not let it print money out of thin air whenever Bankers steal money from the middle class.

Apparently the democrats/republicans only care about the American people when it's not about an institution, owned by the same banking interest that donate massive amounts of money to their candidates.  But of course the "sensible", know their friend Jamie Dimond is looking out for them.



So we're 16 trillions dollars is debt. Yet we printed up 16 trillion dollars to bail out crooked bankers, in addition to the legal bank bailouts we already instituted in 08.

[opebo]

My friend, the day you want to ditch the capitalist system and move to state socialism, I'll take your critique a bit more seriously.

[Purch]

My friend, the day you want to ditch the capitalist system and move to state socialism, I'll take your critique a bit more seriously.

The day you ditch capitalism, and move to a fascist state( Which Keynes admitted his economic system was more suited for) than I might take your original statement seriously.

=)

But hey, no need for a back and forth. When we're clearly not on the same page.

[opebo]

My friend, the day you want to ditch the capitalist system and move to state socialism, I'll take your critique a bit more seriously.

The day you ditch capitalism, and move to a fascist state( Which Keynes admitted his economic system was more suited for) than I might take your original statement seriously.

=)

But hey, no need for a back and forth. When we're clearly not on the same page.

Oh I don't mind fascism much.

[Zioneer]

Hmm... I usually roll my eyes at anything involving the Fed (because invariably the person telling me about it is hawking some conspiracy theory), but if Bernie Sanders could agree with Ron Paul on this, then I suppose it's worth taking a look at. Very corporatist actions by the Fed. It needs oversight.

[Purch]

Hmm... I usually roll my eyes at anything involving the Fed (because invariably the person telling me about it is hawking some conspiracy theory), but if Bernie Sanders could agree with Ron Paul on this, then I suppose it's worth taking a look at. Very corporatist actions by the Fed. It needs oversight.

What do you mean conspiracy? The biggest thing people who are anti fed are about is the fact that being able to manipulate our currency gives them control over prices, inflation, bailouts, intrest rates and bailouts of other countries. In a sense they're as powerful as any of the three branches of goverment yet they have less transparency and less checks on their operations. I'm not asking for ending the fed, I'm asking for more accountability and transparency when it comes to their actions especilly, considering that the people on their board are bankers from the same firms they're always in a hurry to bailout, it's a clear conflict of intrust.

And it's funny you mention Bernie. Because during the original fed audit when the bil got introduced he was the one who compramised with the bankers to bring it down to a partial audit, because they claimed if there was a full audit it would hurt investor confidence. So that 16 trillion dollars was there without having full access to the rest of the fed's dealings which is what this bill will give them access to.