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Fed Reserves $16 Trillion Secret Bailouts - Excellent Adventure ahead with Bill Ted & The Fed!


Dublin 4

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The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression.
An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study.
"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders.
"This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
The Fed Audit - Newsroom: Bernie Sanders - U.S. Senator for Vermont

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

Just when you thought the Banking Crisis couldn't get messier after Peter Matthews (still) unrebuted statement to a Dail Committee that our Banks need another €60 Billion, when you thought the Eurozone couldn't get more exciting with that Berlo comeback matched with the arrival of Beppe G etc - well folks you were wrong! :shock2:

Here it is Mutthahs! :evil:

Where will this Excellent adventure take us to now? :shock2:



:p It's gonnna get Raaaaaaaaaaaaadical Dooooooooooooooooooooooooooodz :p
 

Ulster-Lad

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We knew about this with the LTRO funds already. But it is good to remind people sometimes.
 

Dublin 4

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Crossover there alright :p
 

LamportsEdge

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Thats interesting Dublin4. I knew that the German banks were lined up at the Fed Emergency window while the German government was busy running around in Europe publicly castigating 'feckless' countries and diverting attention from their own bent banks- one of which caused a U-turn by Merkel when she bailed out Hypovereinsbank with German taxpayers money.

Hypo of course are part of the same Cash Gruppe of the German banks as Deutsche- which on that list has been bailed out by the Fed to the tune of $354billion.

So much for German regulation and rectitude. And of course no-one is talking about the system German banks had of flying in executives to trade in worthless derivatives through the IFSC in order to avoid putting those trades on the balance sheets of German banks at home.

Finally, no-one at all it seems is allowed to talk about the huge cloud of unwound derivatives hanging around the North Sea and unrepatriated to their owners in Germany. The suspicion is that the Bundesbank has taken ownership of all that and is allowing German banks to proceed with falsified balance sheets and massively understated liabilities.

I don't hear much about the investigation out of Frankfurt by police there on suspicious trading activities and processes involving major German Landesbanks either.
 

Dublin 4

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Ulster-Lad

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Notably absent from that list thus far is exactly how much the ECB got to date. The sums listed thus far do not total 16 Trillion.
 

Dublin 4

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Notably absent from that list thus far is exactly how much the ECB got to date. The sums listed thus far do not total 16 Trillion.
and many many more including banks in Belgium of all places
Have they an Annex in Brus? :p
 

Sensor

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All the greatest economists seem to have only one solution - Think only about now and kick the can down the road.
 

stopdoingstuff

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But... I thought printing vast amounts of money would cause hypeinflation... and it didn't...

So have the doomsayers been proven wrong?
It doesn't when that money is not passed onto the real economy, obviously. But it is definitely leading to a bubble in many asset classes.
 

Analyzer

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Thats interesting Dublin4. I knew that the German banks were lined up at the Fed Emergency window while the German government was busy running around in Europe publicly castigating 'feckless' countries and diverting attention from their own bent banks- one of which caused a U-turn by Merkel when she bailed out Hypovereinsbank with German taxpayers money.

Hypo of course are part of the same Cash Gruppe of the German banks as Deutsche- which on that list has been bailed out by the Fed to the tune of $354billion.

So much for German regulation and rectitude. And of course no-one is talking about the system German banks had of flying in executives to trade in worthless derivatives through the IFSC in order to avoid putting those trades on the balance sheets of German banks at home.

Finally, no-one at all it seems is allowed to talk about the huge cloud of unwound derivatives hanging around the North Sea and unrepatriated to their owners in Germany. The suspicion is that the Bundesbank has taken ownership of all that and is allowing German banks to proceed with falsified balance sheets and massively understated liabilities.

I don't hear much about the investigation out of Frankfurt by police there on suspicious trading activities and processes involving major German Landesbanks either.
Vast sums of money, have a strange ability to influence EU decision making, in way that would make vast quantities of people (Spaniards, Italians, ) envious.
 

Mossy Heneberry

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But... I thought printing vast amounts of money would cause hypeinflation... and it didn't...

So have the doomsayers been proven wrong?
Three thing need to happen to cause hyperinflation.

1. The government needs to print off a lot of money.
2. The money has to find it's way into the economy.
3. A major political event happens. Think Weimar Republic and the invasion by the French or Zimbabwe and Mugabe's land grab.
 

Mad as Fish

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Just what will it take for any government to turn on the banks? To insist that they have to fix their own mess, that people are going to be put before the profits accruing to a tiny few, that the world is not just run for the benefit of bondholders? Will they have to find them all in bed buggering ten year old's before they the penny drops that they are indefensibly immoral and corrupt?

I simply can't get my head round why the banks have such a grip upon the balls of governments.
 

LamportsEdge

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Just what will it take for any government to turn on the banks? To insist that they have to fix their own mess, that people are going to be put before the profits accruing to a tiny few, that the world is not just run for the benefit of bondholders? Will they have to find them all in bed buggering ten year old's before they the penny drops that they are indefensibly immoral and corrupt?

I simply can't get my head round why the banks have such a grip upon the balls of governments.
Essentially governments in the west are the public face of corporations such as banks. If you want to know about the Irish Government (and the parties here are completely irrelevant) you only have to look at the way the IFSC is effectively its own department of the Irish Government.

The tail is wagging the dog so it is little surprise that the national dog is by now very dizzy.
 

Ribeye

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Deef, your really becoming a bit of a pain in the neck for TPTB,

I think I might send you over a Furby Close Protection Team,

Just to make sure you don't have any "little accidents"

You'll need to be well stocked with Super Noodles and Bailys,
 

sport02

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You'll love this old reliable of mine Lamp :p





Germany Has 5 Trillion Euros of Hidden Debt, Handelsblatt Says - Bloomberg

Still unrebutted by the German Govt since September 2011 :lol:

Maybe some joker on P.ie can rebut it for them
You're beginning to sound like a tin foil hat wearer. You seem to take the obsecure soundbite that only got a paragraph in Bloomberg as gospel.
Of course you can argue you are just posting a link to a German report, but you've posted it so many times, you obviously believe it.

On a seperate note, you also keep posting Peter Mathews 60 billion recap but what is your opinion, do you agree with him?
 

Dublin 4

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Like I said - some joker on P.ie might rebut it for Germany... :lol:
 

Tea Party Patriot

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But... I thought printing vast amounts of money would cause hypeinflation... and it didn't...

So have the doomsayers been proven wrong?
Have you looked at the price of commodities, take cattle prices in for manufactured beef €2.60 per kg for cold weight beef in 2010 and today it is €4.50 per kg.
 

LamportsEdge

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I have to say that the usual economic indicators don't look right to me either. We know that the US unemployment/employment figures are politically manipulated for example.

I recall a conversation with a boss about 15 years ago when the company was doing the 'we can only pay the rate of inflation' bit and I asked them was that on the national rate or the rate of inflation in London they were calculating.

They didn't like that question at all. My point being that a thing such as a 'national inflation rate' is inherently a joke because inflation runs at different rates in New York than it does in New Hakanabush, Iowa, different in London than it is in Yorkshire and different in Dublin than it is in Tipperary.

What is included in a basket of commodities in any given country on which the inflation rate is calculated is also quite arbitrary.
 
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