Durk Pearson & Sandy Shaw’s®
Life Extension NewsTM
Volume 14 No.
4 • September 2011
Sorry—No Chuckles or Giggles here ...
But You Might Like to Know Why the Value of
the Dollar Keeps Falling ...
Partial Audit of the Federal Reserve Results Posted on Senator Bernie Sanders’ Webpage On July 21, 2011
This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.
— Bernie Sanders (I-VT)
The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. It is said that Jim DeMint, a Republican Senator, and Bernie Sanders, an Independent (but self-proclaimed socialist) Senator led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the House bill (HR1207) so that a complete audit would not be carried out. However, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage on July 21, 2011.
$16,000,000,000,000 Secretly Given Out to U.S. Banks and Corporations and Foreign Banks
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. Virtually none of the money has been returned and it was loaned out at 0% interest.
To keep $16,000,000,000,000 in perspective, remember that the Gross Domestic Product of the U.S. is only $14.12 trillion. Moreover, the entire national debt of the U.S. over its 200+ history is $14.5 trillion. The $16,000,000,000,000 distributed by the Fed without oversight by Congress was created out of thin air (thin paper, actually) that will, because it increases the number of U.S. dollars without increasing the goods and services available to be purchased by U.S. dollars, reduce the value of dollars (e.g., how much a dollar will buy).
The list of institutions that received the most money from the Federal Reserve can be found on page 131 (http://www.scribd.com/doc/60553686/GAO-Fed-Investigation#outer page 144) of the GAO Audit includes: Citigroup: $2.5 trillion Morgan Stanley: $2.04 trillion Merrill Lynch: $1.949 trillion Bank of America: $1.344 trillion Barclays PLC (United Kingdom): $868 billion Bear Stearns: $853 billion Royal Bank of Scotland (UK): $541 billion JP Morgan Chase: $391 billion Deutsche Bank (Germany): $354 billion UBS (Switzerland): $287 billion Credit Suisse (Switzerland): $262 billion Lehman Brothers: $183 billion Bank of Scotland (United Kingdom): $181 billion BNP Paribas (France): $175 billion and many many more including banks in Belgium of all places
http://www.scribd.com/doc/60553686/GAO-Fed-Investigation#outer page 144
View the 266-page GAO audit of the Federal Reserve (July 21st, 2011):
http://www.gao.gov/products/GAO-11-696 FULL PDF
on GAO server:
Suggestion: Our tryptophan or 5-hydroxytryptophan formulations help prevent anger and aggressive impulsive acts from taking over your mindset when you read about these criminals/traitors at the Fed.