Thanks to Congressman Ron Paul, the Federal Reserve was recently mandated to cough up the information about the loans they made during the financial crisis (by creating money out of thin air).
According to a recent article by David DeGraw, the Fed made $12.3 trillion in emergency loans, to every billion dollar beggar on Wall Street: to banks, to companies, to foreign countries, and if we looked hard enough, we’d probably find some loans to some off planet borrowers.
The figure is outrageous when you understand that these are our dollars that are being lent. By pouring trillions of dollars of Monopoly Money out into the environment here and abroad, it decreases the value of the dollar and will drive up the cost of foreign goods (cars, electronics, clothing, etc.).
They also provided another $9 trillion in “other financial arrangements.” God only knows….
Ben Bernanke can now be officially classified as a mental case. It’s that or an economic war criminal. Take your choice.
