The World’s Secret

Posted by Before It's News

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No one truly understands just how out of hand America’s finances have become. America has, in fact, run trade deficits large enough to wipe out its gold hoard under the old rules of the game – the old rules being brought back to light given the world’s current financial conundrum.  
 
If we were to think of America’s current finances under an evolved Bretton Woods system, China’s redemption of US Treasury notes would be more than enough to wipe out the entire gold supply of the U.S. and more. And this is perfectly plausible if we were under the rules of Bretton Woods.   \
 
While this may seem extreme, this is exactly how most of the world monetary system worked up until 40 years ago. It’s no wonder why the U.S Republican party recently called for a commission to look at the merits of a gold standard.  
 
Sixty years ago the US had over 20,000 tons of gold. But because of consistently large trade deficits, it dropped to 9000 tons. In 21 years, US gold reserves dropped 11,000 tons of gold that mostly went to a small number of export powerhouses to make up for its trade deficits.    
 


Fed Gives Out 16 Trillion to Banks & Corporations In Only 30 Months!


(Ed Note: The ACTUAL “Term-Adjusted” Total of these loans is apparently net ~$1.139 TRILLION, as shown in Table 9 on pages 132 and 133 (totals on 133). Regardless, the excerpts from this article below show the situation is very bad, and the accounting is being done by the the Office of Management and Budget (OMB) which shows this  Cabinet-level office loaned a Trillion plus to countries as obscure as Belgium. The OMB is the largest office within the Executive Office of the President of the United States). 

“What was revealed in the audit was so startling a bipartisan Bill to Audit the Fed passed overwhelmingly 07/25/2012 HERE:

$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.

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.

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 

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.” Details of the overwhelming bipartisan House Vote for the Rep. Ron Paul (R-Texas) Bill to Audit the Fed HERE

…..read more HERE.