Best of the Week
Most Popular
1.RED ALERT: Paris Terror Attacks - What to Expect Next - STRATFOR
2.Paris Terror Attacks, Death Pangs of a Dying Religion, and Impact on BrExit EU Referendum - Nadeem_Walayat
3.Paris Terror Attacks, Islamic State Attempting to Spark Civil War in France - Nadeem_Walayat
4.Three Shocking Charts That Prove Gold Price Rally Is Coming - Sean Brodrick
5.Stock Market Nifty-Fifty Becomes Fab-Five; Return of the 'Four Horseman' - Mike_Shedlock
6.Africa Population Explosion - Why Europe's Migrant Crisis is Going to Get A Lot Worse - Video - Nadeem_Walayat
7.Gold Mining Stocks May Be The Buy Of The Century - Jeff_Berwick
8.Grandmaster Putin Beats Uncle Sam at His Own Game - Mike_Whitney
9.BRICS? No, CRISIS - Raymond_Matison
10.UK Housing Market Affordability, House Prices Momentum and Trend Forecast - Nadeem_Walayat
Last 5 days
George Osborne's War on Buy to Let Sector Trending Towards Doomsday - 26th Nov 15
Will Turkey Drag NATO into War With Russia in Syria? - 25th Nov 15
George Osborne’s Autumn Statement and Spending Review Full Text - 25th Nov 15
Will Fresh QE From ECB Boost Gold? - 25th Nov 15
Sheffield, Yorkshire and Humberside House Prices Forecast 2016-2018 - 25th Nov 15
Investors Watch Out For The Auto Industry… - 24th Nov 15
BEA Revises 3rd Quarter 2015 US GDP Economic Growth Upward to 2.07% - 24th Nov 15
Stock Market Supports Are Being Broken - 24th Nov 15
Is Gold Price on the Verge of a Breakout? - 24th Nov 15
Fed’s Tarullo: U.S. Interest Rates Liftoff Should Wait for Signs of Inflation - 24th Nov 15
Silver Price, COT, US Dollar Updates and More - 24th Nov 15
UK Regional House Prices Analysis - Video - 23rd Nov 15
Crude Oil Swinging For The Fences - A 20 to 1 Option Play - 23rd Nov 15
US Dollar, CRB, Oil, Gas, Copper and Gold - The Chartology of Deflation - 23rd Nov 15
UK Regional House Prices, Cheapest and Most Expensive Property Markets - 23rd Nov 15
Stock Market Rally Losing Momentum? - 23rd Nov 15
Will Gold Price Drop Below $1000 Soon? - 23rd Nov 15
Gold and Silver Sector Big Green Light and Low Risk Entry Setup... - 23rd Nov 15
Limits to Economic Growth - Challenge and Choices - 22nd Nov 15
Long Dollar Trade and Current Copper Price Below Cost of Production - 22nd Nov 15
UK Housing Market House Prices Affordability Crisis - Video - 21st Nov 15
The Fed Has Set the Stage for a Stock Market Crash - 21st Nov 15
Stock Market Primary V Wave Continues - 21st Nov 15
Gold And Silver - Value Of Knowing The Trend - 21st Nov 15
UK Footsie Bulls Set To Foot The Bill - 21st Nov 15
UK Housing Market Affordability, House Prices Momentum and Trend Forecast - 21st Nov 15
GDX Gold Miners’ Strong Q3 Results - 20th Nov 15
End of Schengen, Stock Market’s Technical Strength Grows - 20th Nov 15
Justice for All and The Curious Case of Zambia - 20th Nov 15
Paris, Sharm el-Sheikh, and the Resurrection of Old Europe - 20th Nov 15
Silver Prices and The Management of Perception - 20th Nov 15
Stock Market Nifty-Fifty Becomes Fab-Five; Return of the 'Four Horseman' - 20th Nov 15
Waiting for Goldot Again - 20th Nov 15
Michael Curran Goes Down-Market Shopping for Gold Stock Winners - 20th Nov 15
Why Isn’t This Incredibly Bearish Bond Market Development Making the News? - 19th Nov 15
SPX Appears to have Stopped its Rally - 19th Nov 15
The Great Fall Of China Started At Least 4 Years Ago - 19th Nov 15
Using Elliott Waves: As Simple As A-B-C - 19th Nov 15
Has Deflation Been Ddefeated? - 19th Nov 15
Dow Jones Stock Market Index is Not Going to Crash - 19th Nov 15

Free Instant Analysis

Free Instant Technical Analysis

Market Oracle FREE Newsletter

Reasons to Get Excited About Japanese Stocks

Jackals of Jekyll Island - Federal Reserve Audit

Politics / Central Banks Sep 12, 2012 - 06:47 AM GMT



Best Financial Markets Analysis ArticleThe supreme illicit fraud of central banking embodied in the Federal Reserve, acts as a private piggybank for favored cartel thieves. The liquidity of unlimited credit transfers to banksters, especially at zero interest, financed by unimaginable new Treasury Bonds, indebting the American public; is a crime committed by outlaws. The significance of the evidence for the extent of the crony financial manipulations, that the controllers of international capital use to maintain their power strangle hold on humanity, needs to be fully exposed. Only when the beleaguered and downtrodden become sufficiently indignant to usury incarceration, will heads start to roll.

Vermont Senator Bernie Sanders announces on his web site page, The Fed Audit.

"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."

Yes, you read that correct, 16 TRILLION DOLLARS. When originally disclosed, there was minimal outrage.

The United States Government Accountability Office report on the Federal Reserve Audit on page 203-204 reveals proof positive of the magnitude of the transfer of trillions in bailout credit to the money center international banks.

"The FOMC approved these swap line arrangements to help address challenges in the global market for interbank lending in U.S. dollars. Many foreign banks held U.S. dollar-denominated assets and faced challenges borrowing in dollars to fund these assets. In contrast to U.S. commercial banks, foreign banks did not hold significant U.S. dollar deposits, and as a result, dollar funding strains were particularly acute for many foreign banks. The Board of Governors of the Federal Reserve System (Federal Reserve Board) staff memos recommending that the FOMC approve swap lines noted that continuing strains in dollar funding markets abroad could further exacerbate strains in U.S. funding markets. For example, foreign banks facing difficulties borrowing against U.S. dollar assets may have faced increased pressure to sell these assets at a time of stress, potentially putting downward pressure on prices for these assets. The dollar swap lines allowed foreign central banks to make dollar loans to banks in their jurisdictions without being forced to draw down dollar holdings of foreign exchange reserves or to acquire dollars directly in the foreign exchange market. An FRBNY staff paper noted that the dollar reserves of many foreign central banks at the start of the crisis were smaller than the amounts they borrowed under the swap lines and that efforts by foreign central banks to buy dollars in the market could have crowded out private transactions, making it more difficult for foreign banks to obtain dollars. This paper further noted that the Federal Reserve System (the Federal Reserve Board and Reserve Banks collectively) was in a unique position to provide dollars needed by foreign central banks to provide lender-of-last-resort liquidity to banks in their jurisdictions. The increase in reserves was offset through sales of Treasury securities and increasing incentives for depository institutions to hold excess reserves at FRBNY."

The last statement regarding using Treasury securities to increase banking reserves admits that monetizing the balance sheet of the FED, to unheard of levels, continues unabated. The absence of mainstream media reports on this historic, more than doubling, of the officially disclosed debt is beyond belief. Now that the Federal Reserve openly acknowledges that, the privately held banking cabal is buying up Treasury Notes, because the marketplace has refused to accept and buy the excessive float of new Treasury obligations, should be the most sobering consequence of the greatest bubble of all time.

This off the books concealment reporting by the FED illustrates the importance of the audit.

Watch the video, REAL DEBT that provides a short analysis of the Fed audit.

The Wall Street Journal, in The Federal Reserve’s cult of secrecy is unmasked, reveals a disgusting culture of self-aggrandizement.

"The recent audit of the Federal Reserve by the Government Accountability Office is particularly disturbing if read alongside the last report to Congress by the Fed’s Inspector General.

The GAO audit found a huge number of serious conflicts of interest at the Fed. Employees and contractors were allowed to own stock in the companies receiving financial assistance from the central bank."

The fact that the FED and their enablers in Congress prevented a complete and comprehensive forensic audit of the books of the "Jackals of Jekyll Island" indicates just how much is at stake.

None other than the formidable blog, The Economic Collapse, expresses the sentiment that most of us should share.

"Another mystery that I would like to see addressed is the trillions of dollars of "off balance sheet transactions" that are unaccounted for at the Federal Reserve. This was brought up once during a Congressional hearing, but nobody seemed to have any answers."

The $9,000,000,000,000 MISSING From The Federal Reserve YouTube captures the absurdity of Congressional oversight. The financial community that created fractional reserve banking is in total control of the political election process. As long as there is no accountability and consequences for outright theft, the money magicians continue to operate their fraudulent scheme of deception as the cornerstone of international economic transactions.

The FED’s grip on the global moneychangers’ racket is based upon maintaining the U.S. Federal Reserve funny money, as the reserve currency for the planet. The value and worth of Treasury Bills and Bonds are on the path to have the value of Reichsbank marks. Recognize the enemy that is destroying the country and world economy.

James Hall – September 12, 2012

Source :

Discuss or comment about this essay on the BATR Forum

"Many seek to become a Syndicated Columnist, while the few strive to be a Vindicated Publisher"

© 2012 Copyright BATR - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2015 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Biggest Debt Bomb in History