The Fed Audit

The Federal Reserve Made 16 Trillion$ In Secret Loans To Bankster Friends Overseas    Most people have a hard time grasping just how large 16.1 trillion dollars is.  It is an amount of money that is almost inconceivable.  It is more than the GDP of the United States for an entire year.  It is more than the U.S. government has spent over the last four years combined. "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 Senator Bernie Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else." Among the investigation's key findings is that the Fed unilaterally provided trillions of

 dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "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," Sanders said. The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of secret and extremely low-interest loans.

READ ENTIRE ARTICLE