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Tuesday, July 26, 2011

GAO: Fed Issued $US16 Trillion During 2008 Crisis!

Just a simple math calculation to get you to like the Federal Reserve.

$16 Trillion / 310 million people is = over $50k dollars cash for every man, woman, and child in this country.

Get it yet? We got to end the Fed and put Ron Paul for prez 2012.


GAO: Fed Issued $US16 Trillion During 2008 Crisis!

"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," Sanders said in a statement. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else." – Washington Post

Dominant Social Theme: Simply a glitch. The US$16 trillion was issued in good faith by the stewards of the democracy. They were saving the "system." What, you didn't get any of it? Maybe next time ...

Free-Market Analysis: With nary a ripple in the mainstream press, the US Government Accountability Office has released an "audit" of the Federal Reserve loan program in 2008 that, according to the Washington Post (see above excerpt) highlights possible conflicts of interest in the issuance of some US$16 trillion. We would bet it's more than that.