The recent bank bail-out process illustrated below, reminds me of something I saw in my wife’s Philippine farming community. A group of local businessmen got together and formed a ‘Farm Savings Co-operative’. They encouraged the local farmers to deposit their money in the ‘Savings Co-operative’. Unannounced to the hard-working and trusting farmers, the ‘directors of the board’ then proceeded to take out large loans for themselves from the Farm Co-operative bank. These loans were never paid back. These business shysters never intended to pay those debts back. And within four years the ‘Farm Savings Co-operative’, once holding local farmers’ earnings, went bankrupt and closed its doors.
These banking privateers who control the Federal Reserve, obviously loan trillions of dollars to ‘affiliated’ private banks, and those loans are never paid back!! Tens of millions of dollars in bonuses (maybe more?) are given to the boards of directors and corporate executives who run these banks into the ground.http://sanders.senate.gov/newsroom/news/…
(Summarized below)
What was revealed in the audit was startling:
$16,000,000,000,000.00 (TRILLION) 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.
Americans should be swelled with anger and outrage at the abysmal state of affairs
when an unelected group of bankers can create money out of thin air and give it out
to megabanks and super-corporations like Halloween candy. The list of institutions
that received the most money from the Federal Reserve can be found on page 131
of the GAO Audit and are as follows:
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (UK): $ 868 billion* ($ 868,000,000,000)
Bear Sterns: $ 853 billion ($ 853,000,000,000)
Goldman Sachs: $ 814 billion ($ 814,000,000,000)
Royal Bank of
Scotland (UK): $ 541 billion ($ 541,000,000,000)
JP Morgan Chase: $ 391 billion ($ 391,000,000,000)
Deutsche Bank
(Germany): $ 354 billion ($ 354,000,000,000)
UBS (Switzerland): $ 287 billion ($ 287,000,000,000)
Credit Suisse
(Switzerland): $ 262 billion ($ 262,000,000,000)
Lehman Brothers: $ 183 billion ($ 183,000,000,000)
Bank of Scotland
(UK): $ 181 billion ($ 181,000,000,000)
BNP Paribas
(France): $ 175 billion ($ 175,000,000,000)
Reference material:
“The History of Banking Fraud”http://www.blissful-wisdom.com/the-histo…
“How The World Works – Two Videos”http://www.blissful-wisdom.com/how-the-w…
“Financial Terrorism by the International Monetary Fund”http://www.blissful-wisdom.com/financial…