Fed Audited: 16 Trillion Loaned to Banks

The Federal Reserve gave 16 trillion dollars in loans to some of the largest financial institutions and corporations in the world revealed by the first top-to-bottom audit of the Fed. Today the dollar fell against the Swiss Franc showing a flight to quality and safety might be a flight away from the US dollar. And the economy is still shedding jobs as thousands of fresh layoffs at companies from Blackberry to Cisco are announced. Reason's Anthony Randazzo weighs in on these issues.

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[MountainMan23]

If that $16 Trillion had been divided equally among every man, woman and child in the US (310 million of us) each of us would have received over $50,000. Our economy would be humming, banks & corporations would have gotten their share. On the other hand, if that $16 Trillion had been divided equally among all the people on this planet (not quite 7 billion) every person would have received more than $2200. That's the scale of this crime against humanity.

[ZSwierczynski]

Fat Cats lending to Fat Cats.

[wrinkleneckbass]

This chick is really good looking.

[YoungNinoFresco]

Did anyone else get a bullshit commercial before this video about "International Taxation"? What does that sound like to you?

[drewdonham]

@MountainMan23 who cares nobody is gonna do anything about it. get back to work, and think about it all day.

[nancymacpear]

I am going to send this out on my FB page. We CAN do something about it people! Spread the news! I am fed up! ha ha

[shianado]

@MountainMan23 but understand that if that happened all that money would be worthless to us who have so much of it, which is still true in our reality except we dont even get the money hahahah

[JBain87]

@pirucreek I don't know the duration or terms of the loans, but the money was created "out of thin air." It's just electronic. Somebody at the Federal Reserve types a number, hits enter, and then it exists legally.

[Efteling4Ever]

One wonders why Americans are so sadly preoccupied with the Euro. LOL 16 trillion. Borrowing trillions and trillions of USD to US banks that loans them at a ridiculously low rate and then buy treasury bonds at higher rates ...wtf????? And those rating agencies have the nerves to moan about Europe........? What a pathetic farce. Europe should have no more of that. Should simply start buying everything with EUR. Gold, oil, everything.

[Pensect]

sad how RT is proving more reliable than U.S. news sources....

[schoolboy4321]

Even after listening to this some sheeple will still not wake up and figure out that Dr. Ron Paul authored the "audit the fed" bill. The federal reserve is a corrupt private bank that inflates the currency and reduces the buying power of the middle and lower classes while giving rich banksters billions and trillions with no interest. Please people wake up, Ron Paul is the only person who understands economic policy! Ron Paul 2012.

[pirucreek]

I was wondering if anyone knows the durations and terms of these loans and where they got the money from?