Fed Bailouts = 16 Trillion - epic win for the Fed

M

millededge

Active Member
$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.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is "only" $14.5 trillion.
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I would think that would have to qualify as the biggest robbery in recorded history, no?
 
There are some questions that should come from this as to the true reason for reserve banks, many of which are simply in-place to set monetary policy but there seems to be questions over currency loans/swags to stabalise or de-stabalise certain currency's to make others appear stronger or weaker.

They are definitely a active player in world markets and make the public pay for their decisions sometimes through inflation while they have the ability to simply move money through currency loans & swaps.

I believe the 16 trillion was not money actually given to the banks but rather guarantee's which in itself is still very strange for a reserve bank in the U.S to be doing. This put's into question all the political noise we see on the news everyday about Euro leaders debating the bailout fund and what to do with Greece, is this just a stage-show? has the solution already been found? is the Fed simply waiting this time before they provide another 16 trillion of worldwide guarantee's to banks again.

I believe in the past banks could get money as long as they had subsidiary operating in the U.S but the FED had to know they would funnel the money back to their main operations.

A good example is Westpac who i believe has 1 office in New York city which obtained around 250 million, how much was sent back to help backstop defaults in Australia?
 
Nukz said:
A good example is Westpac who i believe has 1 office in New York city which obtained around 250 million, how much was sent back to help backstop defaults in Australia?
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Almost USD$5.6 billion, that's how much.

http://www.moneymorning.com.au/20101203/nab-and-westpacs-secret-bailout-revealed.html

I'm talking about the near collapse of the Australian banking system in 2008. I'm talking about the likelihood of two Australian banks collapsing in 2008 if they hadn't secured a secret loan from the US Federal Reserve.
The fact that National Australia Bank [ASX: NAB] had to borrow USD$4.5 billion from the US Federal Reserve during 2008 and 2009.
And Westpac Banking Corp [ASX: WBC] needed USD$1.09 billion in January of 2008 and 2009.
 
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