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America is NOT broke!

America is not broke.

Those in power want you to believe America is broke so that you'll give up your pension, cut your wages, and settle for the life your great-grandparents had.

America is not broke. The country is awash in wealth and cash. It's just that the wealth and cash isn't in your hands. It's been looted from the workers and consumers and deposited into the banks and the portfolios of the super-rich.

 

THE BIG HEIST, THE BIG LIE

Today just 400 obscenely rich Americans have the same wealth as half of all Americans combined. Most of them benefited from the multi-trillion dollar taxpayer "bailout" of 2008. Now they have as much loot, stock and property as the assets of 155 million Americans combined. Americans have surrendered to the Coup D'etat of the moneyed elite. Wall Street, the banks and the Fortune 500 now run the Republic.

America is not broke. That is the biggest lie of the decade. The truth is, there's lots of money to go around. LOTS of it.

Watch this video of the Federal Reserve admitting that $10 Trillion since 2008 is totally Unaccounted for. TEN TRILLION DOLLARS!

According to the Inspector General for the Federal Reserve, nobody at the Federal Reserve has kept track of $10 Trillion that the Federal Reserve has lent out since 2008. That is over $30,000 for every single American. There are no words…

How much is ten trillion dollars? Shop at Whole Foods for one month and you'll find out.

July 27, 2011

Federal Reserve Audit Findings

Senator Bernie Sanders Office released a report on the first top-to-bottom audit of the Federal Reserve. The audit 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.

Americans are generally ignorant of the fact that the US Federal Reserve is no more federal than Federal Express. It is privately owned and its shareholders are private banks.

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.”

Know Your Enemy - JP Morgan (Rothschild) Chase

Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse.  According to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.

The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo.  The same firms also received trillions of dollars in Fed loans at near-zero interest rates. Altogether some two-thirds of the contracts that the Fed awarded to manage its emergency lending programs were no-bid contracts. Morgan Stanley was given the largest no-bid contract worth $108.4 million to help manage the Fed bailout of AIG.

A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18. To read the GAO report, click here.