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16 trillion

2011-10-18 21:45:54.423427+00 by Dan Lyke 11 comments

Senator Bernie Sanders (I-VT): The Fed Audit, on the $16 trillion given by the Federal Reserve to various organizations. Via Unelected: Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts, which points out:

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

Via Larry's Log: Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

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comments in ascending chronological order (reverse):

#Comment Re: made: 2011-10-18 22:30:27.597265+00 by: meuon

Forget "Occupy Wall Street", we should be: "Occupy Federal Reserve Bank" or at least: "Occupy Washington DC".

Or maybe the real question is: If we foreclose, what do we own?

Sigh, probably nothing worth the lives, effort and goods it will take to collect.

#Comment Re: made: 2011-10-18 22:40:11.479809+00 by: ebradway

The blood just drained completely from my head. I can't think any more about this or I'll throw up.

"When you have conservative Republican stalwarts like Jim DeMint(R- SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability."

Yeah. Any time you see Ron Paul and Bernie Sanders on the same side of issue, you really have to wonder who the f*ck is on the other side?

#Comment Re: made: 2011-10-19 01:22:07.470739+00 by: TheSHAD0W

Well, that explains why the Fed stopped publishing M3.


A lot of people were scratching their heads about why the estimated M3 has been dropping like it is; with this new information added, the above graph is no longer anywhere near accurate. M3 is through the roof.

#Comment Re: made: 2011-10-19 13:36:54.723457+00 by: meuon

Hyperinflation is next.

#Comment Re: made: 2011-10-19 15:03:21.393443+00 by: ebradway

My personal financial portfolio is well-positioned for hyperinflation. Bring it on!

#Comment Re: made: 2011-10-19 15:37:02.680554+00 by: Dan Lyke

Bloomberg is reporting that BOfA is moving junk derivatives to a subsidiary with Fed insured deposits.

Via Ritholtz: The Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer.

And, yeah, I've been predicting Reagan-era like inflation, but it may be Weimar-like.

#Comment Re: made: 2011-10-19 16:27:32.825559+00 by: ebradway [edit history]

I don't have the spare cycles to really parse through it this morning, but here's a network analysis of multi-national corporate control:


I don't see where it's actually be published so it appears to lack peer review. But faculty at ETH Zurich (like the author(s)) are generally held in high regard.

Here's the abstract link:


#Comment Re: made: 2011-10-19 20:04:37.876484+00 by: John Anderson

Aside from holding lots of debt 8^), how does one position for hyperinflation?

#Comment Re: made: 2011-10-19 20:06:45.1828+00 by: Larry Burton [edit history]

After doing a little more research the $16 Trillion may be an aggregate amount of all loans made by the Fed between 2007 and 2010. That would make more sense. The audit did find many instances of conflict of interest at the Fed, though.

John, I would think the best position to be in during hyperinflation would be owning enough farmable land to feed one's self and family. Maybe run up a lot of debt purchasing the land and equipment for farming.

#Comment Re: made: 2011-10-19 21:17:23.633017+00 by: John Anderson

Larry, I'd think you'll probably want to pick up some guns too... and, eventually, henchmen, because sooner or later, you've got to sleep.

#Comment Re: made: 2011-10-19 22:39:06.83463+00 by: ebradway

New Scientist has an lay explanation of the network analysis