The Sheeple and the FED Monster


Jul 18, 2012
How the Federal Reserve Has Swindled the American Taxpayer----

From the Ron Paul Site -- Audit the Federal Reserve

The Federal Reserve is the chief culprit behind our current economic crisis.

Its unchecked power to create endless amounts of money out of thin air brought us the boom and bust cycle -- and causes one financial bubble after another.

Since the Fed’s creation in 1913, the dollar has lost more than 96% of its value, and by recklessly inflating the money supply, the Fed continues to distort interest rates -- and intentionally erodes the value of the dollar.

Ron Paul introduced a bill in Congress to audit the Federal Reserve for the first time ever. The bill passed as an amendment both in the House Financial Services Committee and in the House itself. But eventually the most significant portions of the bill were derailed. (Full story here.)

HR 1207 led to a shocking disclosure:
The Federal Reserve paid 26 trillion dollars in bailouts -- with American money it printed, without our permission -- to its own member banks surrounding the financial crash of 2008.

This has still not created anywhere near the degree of outrage that it should have. Corporate media has completely ignored it -- because to publicize it would speed their own destruction.

Here is a small part of the letter where Congressman Alan Grayson reveals how he found this number, in the newly-audited Federal Reserve balance sheets, to John Hively -- “The World’s Most Accurate Economic Forecaster Since 1989”.

CONGRESSMAN GRAYSON: I wouldn’t want anyone to think that I’m dramatizing or amplifying what this GAO report says, so I’m just going to list some of my favorite parts, by page number.

Page 131 – The total lending for the Fed’s “broad-based emergency programs” was $16,115,000,000,000. That’s right, more than $16 trillion. The four largest recipients, Citigroup, Morgan Stanley, Merrill Lynch and Bank of America, received more than a trillion dollars each.

The 5th largest recipient was Barclays PLC. The 8th was the Royal Bank of Scotland Group, PLC. The 9th was Deutsche Bank AG. The 10th was UBS AG. These four institutions each got between a quarter of a trillion and a trillion dollars. None of them is an American bank. Both Barclays and the Bank of Scotland (as well as Lloyd's Bank) are now embroiled in the LIBOR manipulation scam in the U.K.

Page 205 – Separate and apart from these “broad-based emergency program” loans were another $10,057,000,000,000 in “currency swaps.” In the “currency swaps,” the Fed handed dollars to foreign central banks, no strings attached, to fund bailouts in other countries….

These currency swaps and the “broad-based emergency program” loans, together, totaled more than $26 trillion. That’s almost $100,000 for every man, woman, and child in America.

That’s an amount equal to more than seven years of federal spending — on the military, Social Security, Medicare, Medicaid, interest on the debt, and everything else. And around twice America’s total GNP….

If the Fed had extended $26 trillion in credit to the American people instead of Wall Street, would there be 24 million Americans today who can’t find a full-time job?

However, as the above quote from the Ron Paul site reveals, "the most significant portions of the bill were derailed."
That all may have just changed. The magic date should sound quite familiar by now -- June 27, 2012.
June 27: Ron Paul's Audit The Fed Bill Clears House Panel, Unopposed!

The House Oversight Committee easily cleared legislation Wednesday that would require a top-to-bottom audit of the Federal Reserve.

The bill, sponsored by Rep. Ron Paul (R-Texas), was advanced by the committee on a bipartisan voice vote with no vocal opposition.

The measure, which has garnered 257 co-sponsors from both parties, would require the Government Accountability Office (GAO) to conduct a full audit of the Fed's operations, including its monetary policy deliberations, for the first time....

Before the audit bill cleared the oversight committee on Wednesday, ranking member Elijah Cummings (D-Md.) attempted to introduce an amendment that would prevent the GAO from auditing the Fed's deliberations on monetary policy.
[Lance's note: Do note the name of the embedded traitor, Elijah Cummings, who runs interference for the criminal banking cartel. He is one of dozens of such traitors within the 2-party system, and the White House, that have sold out to the banksters, and have destroyed our economy and our civilization in the process. Barack Obama, and the Zionist mafia that runs his administration behind the scenes, are examples of such traitors, yet the dumb American public remains solidly behind the Obama clique, and will likely return them to the White House for another term in November. BTW, Mitt Romney is hardly any better. He carries water for these same banksters, and skates on their money and blessing. Do not be fooled by the staged mud-slinging between Romney and Obama, It is all being carefully choreographed by bankster agents. Romney has his own Zionist mafia stage-managing his campaign, so no matter who loses, the banksters win].

Cummings withdrew the amendment after Chairman Darrell Issa (R-Calif.) voiced opposition, saying it "essentially guts this bill."

Issa maintained it was ironic that Congress took an intense interest in the $2 billion in losses suffered recently by JPMorgan Chase when it "pales in comparison" to the Fed's multi-trillion dollar portfolio.

"It is long past time for a real audit," he said.

Fed Chairman Ben Bernanke has previously opposed congressional attempts to audit the Fed's monetary policy deliberations, saying it would expose the politically independent institution to lawmaker pressure.


I find it very interesting that the Department of Justice blew the whistle on the LIBOR scandal on the same day that the new Audit the Fed bill passed the House Committee.

Clearly there is a "read between the lines" message being given here -- for those who are paying attention.

The Federal Reserve IS the heart of the "cartel" of bankers that are manipulating the LIBOR rate (i.e. London inter-bank lending rate) and fleecing bank borrowers of billions of dollars, euros, etc.