this shows you... that no one has any idea what the fed is doing. can you believe the song and dance about the bailouts was for less than a trillion while the fed was creating 16 trillion or so... that we now know about. http://www.forbes.com/sites/traceyg...outs-under-reported/#2715e4857a0b34efbe7a6877 The Fed's $16 Trillion Bailouts Under-Reported The media’s inscrutable brush-off of the Government Accounting Office’s recently released audit of the Federal Reserve has raised many questions about the Fed’s goings-on since the financial crisis began in 2008. The audit of the Fed’s emergency lending programs was scarcely reported by mainstream media – albeit the results are undoubtedly newsworthy. It is the first audit of the Fed in United States history since its beginnings in 1913. The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis. Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around. Upon hearing the announcement that the first-ever audit would take place in July, the media was bowled over and nearly every broadcast network and newspaper covered the story. However, the audit’s findings were almost completely overlooked, even with a number as high as $16 trillion staring all of us in the face. Sanders press release, dated July 21st, stated: “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.” The report serves as a clear testimony of the Fed’s emergency action plan to bailout foreign corporations and banks in a time of crisis, but the GAO report does not berate the Fed; rather, it provides a lucid explanation of where the money was allocated and why.
By now, it is safe to say that the Fed is at least as public in its operations as just about any other part of government, maybe even the most public. Virtually every transaction is made public, and much of it in almost real time. Go to the Fed's NY Branch website to see what your Central Bank is buying and selling, how much, and what the paid or received. The balance sheets and audit reports are on the web too of course.
your statement can not and is not supported by reality. those 16 trillion were not reported for years. how does the world become awash with dollars. how did it lose least 700 percent of its value the last 50 years if the fed had not expanded the world supply of dollars by trillions and trillions of dollars. Do you have that audit report that explains that massive expansion of the moeny supply? Do you even have m3? do you know what m3 is. Get us M3 and you can start talking about the beginning of an audit.
Well I guess that is because they haven't looked to see. Can't blame the Fed for that. When we want to know what he Fed is doing we go to the NY Fed's website. Why don't you give it a try. Every transaction is on the Web mostly in virtually real time. Also all the balance sheets and audits are there too. They will tell you what issues they are buying and selling and how much. By the way, the Fed does not give money to banks foreign or domestic. When people use the term bailout I think some of them believe a bailout means assuming losses and giving money away. Nothing could be further from the truth. It looks at this point that the Treasury will make a profit on TARP.
Ahh...I think the U.S. dollar is called the "Reserve Currency", maybe you've heard of that? Do you suppose that has anything to do with the world being "awash" in dollars??? It cost a lot of money to be constantly bombing and killing people all around the world. And with mil spec toilet seats being as high as they are, I suppose much of the deficits and therefore the inflation you see is explained. What do you think? You wouldn't want the U.S. to be weak would you? The Republican candidates are falling all over themselves to see who can claim to be the biggest military spender, and thank goodness. Otherwise think what could happen if we only spent three times per capita what other nations do on their military. I shudder to think! It cost ~6 million to kill each person in Iraq. Good deal I say! Otherwise we could have ended up wasting that money on something communist like early childhood education. Or worse yet, grade schools, for god sake! And besides what would all those people do for a living if they weren't making missiles? You wouldn't want them to have to teach grade school, would you?
Just in case anyone else here is as naive as Jem, the Fed, since its inception has always been audited but those audits weren't always as public as they are today. Currently the Fed is audited internally, and by the inspector general, and by the GAO. You can read about the auditing on the Fed's website if you care to. The Audits are also on the web. We all know that nowadays almost anything can be reported in the print media, such as Forbes, about a government agency, without mentioning names of course, no matter how absurd, illogical, or ridiculous. Of course it is absolutely absurd to think that the Fed is not audited, or that it has never been!!! Yet I guarantee there are some that believe that! The best advice in these matters comes from the Buddha -- "Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your own common sense."
1. you have no idea if that is every transaction or simply the ones they wish to report.. do you? you are focusing on bits and pieces... I am focusing on the fact the fed is privately owned... not properly audited and does whatever the hell it wishes in terms of creating trillions of dollars. as I said we don't even get M3 from them any more... so we don't even have an indirect way to get an idea of how much money they are creating like we did before 2006. 2. do you know the myraid ways the Fed creates electronic money. one way is that the FED simply credits money into the account of those who have accounts with the bank. There is no question they do that. We have seen video of him saying here on et of Bernanke syaing that. We are not just talking about bailouts. but even on that subject you missed the point. Tarp was less than one tenth of the size of the give aways... at the time. Tarp was for under a trillion... I just explained to you the Fed also created trillons it gave away to banks in a time of need. see this above.. "The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis. Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around. Upon hearing the announcement that the first-ever audit would take place in July, the media was bowled over and nearly every broadcast network and newspaper covered the story. However, the audit’s findings were almost completely overlooked, even with a number as high as $16 trillion staring all of us in the face."
As a matter of fact, how do you know your wife didn't kill someone with a butcher knife today. Perhaps she did, and she is hiding it from you.,
nothing like a good change of direction to derail a thread that is uncomfortable to one's weltanschuung. in a way I feel guilty writing these facts. For instance my dad had made millions trading in his retirement.... when I first told him this stuff he thought I was an alien. when I showed him on his own laptop some of these things on the FEDs own website... he sort of refused to take the info in at first. about a year later he saw some guys on CNBC talking about this and he was almost frozen because now he was aware of the facts and the issue. you should have seen the look on is face. its like he realized that even though he had been a successful oil company lawyer and a great trader... he was just a pawn. It crushed him. I felt bad.