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Banker Bailout Costs $5 Trillion So Far
- Text size
Tom Krisher and Ken Thomas
Associated Press
November 13, 2008
For all the fury over Treasury Secretary Henry Paulson’s $700 billion emergency economic relief fund, it seems downright puny when compared to the running total of the government’s response to the credit crisis.
- A d v e r t i s e m e n t
According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system.
The estimate includes many of the various solutions cooked up by Paulson and his counterparts Ben Bernanke at the Federal Reserve and Sheila Bair at the Federal Deposit Insurance Corp., as the credit crisis continues to plague banks and the broader markets.
The Fed has taken on much of that total, including lending a cumulative $1 trillion in overnight or short-term loans since March to primary dealers through its emergency discount window and making a cumulative $1.8 trillion available through its term auction facility, a series of short-term transactions it began making available twice a month in January. It should be noted that a portion of the funds lent in these programs has been repaid and that the totals represent what has been made available.
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November 13th, 2008 at 4:07 pm
when they bring the banksters down-i want an ear
November 13th, 2008 at 4:32 pm
You couldn’t make this stuff up if you tried.
Could someone please highlight Dr. Ron Paul’s proposed piece of legislation which he is planning to represent to the House of Representatives – H.R. 2755: Federal Reserve Board Abolition Act.
http://www.govtrack.us/congres.....=h110-2755
Naturally, it will get shot down but at least he’s raising awareness.
November 13th, 2008 at 4:35 pm
95% of money in circulation is never printed anyway. Those 5 trillion ‘dollars’ probably cost all of a hours’ time at the PC and little else, but we’ll be on the hook for every last cent (plus interest) for generations to come.
November 13th, 2008 at 4:35 pm
Let me assure you:
The Taxpayer is getting nothing.
The money is going to line the pockets of Wall Streeters.
That’s the truth.
November 13th, 2008 at 4:45 pm
http://www.govtrack.us/congres…..=h110-2755
support HR 2755
endthefed.us
November 13th, 2008 at 4:48 pm
You could have read this article on your HDTV with http://www.freedomonmytv.com!
November 13th, 2008 at 5:12 pm
http://www.911truth.ch
November 13th, 2008 at 7:42 pm
People I talk to are largely unaware that anything is really wrong and they think Obama will get
us out of this mess. Most haven’t heard of the Bildebergers or the Illuminati or the New World Order. Are they in for a big surprise.
November 13th, 2008 at 7:52 pm
haha in Australia, the banks had to drop intrest rates, so to as to balance and add profit to the colapse, wich it did .
WTF, so why dont they fully get rid of rates to fully make profit always????
so fucken weird.:(
HW Spartan
November 13th, 2008 at 8:22 pm
Let me see here…
1 MILLION SECONDS = 11.5 Days
1 BILLION SECONDS = 32 Years approx.
1 TRILLION SECONDS= 32,000 YEARS APPROX.
National Debt officially stands at $11 TRILLION.
Consumer Debt stands at $14 TRILLION.
Unfunded Liabilities, ie: Medicare, Social Security Pensions, etc…stands at $75 TRILLION.
So, there is a sum total of $100 TRILLION of Debt.
OH! LET’S NOT FORGET THE COMPOUNDING INTEREST CHARGES ON ALL OF THAT!!!
32,000 YEARS x 100 = 320,000 x 10.
SO, WE HAVE 3.2 MILLION YEARS & COUNTING…..
I AM JUST BEING CONSERVATIVE….
AMERICA, YOU’RE FINISHED!!!!
November 13th, 2008 at 8:28 pm
DEFAULT
November 13th, 2008 at 8:41 pm
EVERY bank employee on this planet with a rank above teller should have EVERY asset seized and bail should start at $250,000 and go up from there.
P.S. Barney Frank just got REelected. Nuff said.
November 13th, 2008 at 9:30 pm
#13 jail is too good. take all of their assets, and make them live in the projects of the ghetto. a block of cheese will be their reward.
November 13th, 2008 at 9:34 pm
On June 4, 1963, a virtually unknown Presidential decree, Executive Order
11110, was signed with the authority to basically strip the Federal Reserve
Bank of its power to loan money to the United States Federal Government at
interest. With the stroke of a pen, President Kennedy declared that the
privately owned Federal Reserve Bank would soon be out of business. The
Christian Common Law Institute has exhaustively researched this matter
through the Federal Register and Library of Congress and can now safely
conclude that this Executive Order has never been repealed, amended, or
superceded by any subsequent Executive Order. In simple terms, it is still
valid.
When President John Fitzgerald Kennedy – the author of Profiles in
Courage -signed this Order, it returned to the federal government,
specifically the Treasury Department, the Constitutional power to create and
issue currency -money – without going through the privately owned Federal
Reserve Bank.
President Kennedy’s Executive Order 11110 [the full text is displayed
further below] gave the Treasury Department the explicit authority:
“to issue silver certificates against any silver bullion, silver, or
standard silver dollars in the Treasury.”
This means that for every ounce of silver in the U.S. Treasury’s vault, the
government could introduce new money into circulation based on the silver
bullion physically held there. As a result, more than $4 billion in United
States Notes were brought into circulation in $2 and $5 denominations. $10
and $20 United States Notes were never circulated but were being printed by
the Treasury Department when Kennedy was assassinated. It appears obvious
that President Kennedy knew the Federal Reserve Notes being used as the
purported legal currency were contrary to the Constitution of the United
States of America. “United States Notes” were issued as an interest-free and
debt-free currency backed by silver reserves in the U.S. Treasury.
In the illustrations below, a “Federal Reserve Note” issued from the
private central bank of the United States (the Federal Reserve Bank a/k/a
Federal Reserve System), is compared with a “United States Note” from the
U.S. Treasury issued by President Kennedy’s Executive Order. They almost
look alike, except one says “Federal Reserve Note” on the top while the
other says “United States Note”. Also, the Federal Reserve Note has a green
seal and serial number while the United States Note has a red seal and
serial number.
President Kennedy was assassinated on November 22, 1963 and the United
States Notes he had issued were immediately taken out of circulation.
Federal Reserve Notes continued to serve as the legal currency of the
nation. According to the United States Secret Service, 99% of all U.S. paper
“currency” circulating in 1999 are Federal Reserve Notes.
Kennedy knew that if the silver-backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve Notes.
This is a very simple matter of economics. The USN was backed by silver and
the FRN was not backed by anything of intrinsic value. Executive Order 11110
should have prevented the national debt from reaching its current level
(virtually all of the nearly $9 trillion in federal debt has been created
since 1963) if LBJ or any subsequent President were to enforce it. It would
have almost immediately given the U.S. Government the ability to repay its
debt without going to the private Federal Reserve Banks and being charged
interest to create new “money”. Executive Order 11110 gave the U.S.A. the
ability to, once again, create its own money backed by silver and real value
worth something.
Again, just five months after Kennedy was assassinated, no more of the
Series 1958 “Silver Certificates” were issued either, and they were
subsequently removed from circulation.
Perhaps the assassination of JFK was a warning to all future
presidents not to interfere with the private Federal Reserve’s control over
the creation of money.
November 13th, 2008 at 9:59 pm
they have deep underground bases..how we going to fight them?!?
November 13th, 2008 at 10:07 pm
You could have watched this article on your HDTV with http://www.freedomonmytv.com!
November 13th, 2008 at 11:08 pm
If I have to read feed me money tv from YOU Fing# 6 one more time I’m going to come and hunt you, anibomb and f-ing find a cure down and sick all of these blogger on your sorry asses . If i wanted to buy shi# I’d Google eBAY
(You know you all wanted to say it… now buzz off #6.)
November 14th, 2008 at 12:18 am
Traditional sources are unlikely to work because the scam is so HUGE! First off, the US has had the illegal creation of the Federal Resrve for about 95 years–in that span of time the Fed has helped to usher in the IRS (its collection agent), WWI, orchastrated stock market crash of 1929 that it manipulated into happening, the removal of the gold standard in 1933, entry into WWII, entry into the Korean War that many still do not know why we entered, JFK assassination, entry into Viet nam war, on up to the present with other false flag operations such as inside job 911, illegal war on Iraq, Gitmo, Patriot Act that basically nullifies our US Constitution…the illegal $700 billion bailout, ETC. ETC. ETC. Do you recall that on 9-10-2001 Rumsfeld announced that their was some $2.6 TRILLION unaccounted? The following day 9-11, and then a little later on, it was reported Rumsfeld was in error, the more accurate amount of missing $ was $3.4 TRILLION! This was announced with an explaination that we will never be able to know for sure how it was stolen from the US people snce the evidence were located in the Pentagon and Twin Towers, like the ENRON evidence–how convenient. Hmmm. Could such vast amounts of money help to finance a 9-11 false flag operation? We rightly squabble about $700 Billion bailout, but $3.4 TRILLION based on 2001 value is some five times this most recent bailout! The illegal Federal Reserve has capitalized and encouraged every war and false flag operation that it financed into existence with monopoly money that is not based on anything; yet, the Federal Reserve charged interest on such a fiat system and therefore manipulated much of the true wealth and assessts of this country away from WE THE PEOPLE! How many of you have lost a family member or friend in the manufactured wars of the 20th and now 21st century? How many have died. In WWI and WWII it is estimated as much as a 100 MILLION died in those senseless wars. In Vietnam, one million vietnamese died–not counting US deaths. In Iraq, MILLIONS have died since its manipulated war with Iran in the 1980s, and speaking of Iran, now the US (CIA/MOSAD) are encouraging a war with Iran! When will it cease? Who stands to gain by such evil manipulations? Surely WE THE PEOPLE do not gain anything from wars and rumors of wars, so why participate in a game that offers you no true lasting benefits/rewards? Folks, you want change? Then get involved and do what your heart, mind and soul directs you to do to bring about a lasting change to usher in JUSTICE and hopefully PEACE. NUFF SAID–GET INVOLVED! Peace.
November 14th, 2008 at 12:47 am
Now thats a great report # 19,You are so correct .
I think this is going to be long and depressing.
They think they are going to win with patience, that we will forget the details,
then they will move into a new phase of the game.
What really pisses me off is that they think they are better at the game than we are.
finally.. all of those hours and hours of Halo my sons have been playing will finally pay off.
I’ve been wondering for years what they have been training for. it’s going to be protecting all of us from them.
It’s not over until every last one of us are dead . I’m not dead yet.
#11 your finished if you under estimate America.(everything is not about $$)
I pledge allegence to the flag of the United States of America
and to the republic for which it stands
one nation under God
indivisible with liberty and justice for all
Remember that??
I now know why we should say it every day like we use to when we were kids.
November 14th, 2008 at 5:25 am
The Federal Reserve Bank and it’s Collection Agent: ‘The IRS’
have grown old and their Insane money scams are totally out of control.
They will have to be Terminatated from The United States of America.
Of course they will not relinquish nor give up their satanic grip on America
without being totally destroyed and eradicated from the landscape.
After American’s Eradicate the Federal Reserve Banking money scam system.
America can then go back to Exectutive Order 11110 Signed into Law by
President John F. Kennedy on June 4, 1963.
On June 4, 1963, a virtually unknown Presidential decree, Executive Order
11110, was signed with the authority to basically strip the Federal Reserve
Bank of its power to loan money to the United States Federal Government at
interest. With the stroke of a pen, President Kennedy declared that the
privately owned Federal Reserve Bank would soon be out of business. The
Christian Common Law Institute has exhaustively researched this matter
through the Federal Register and Library of Congress and can now safely
conclude that this Executive Order has never been repealed, amended, or
superceded by any subsequent Executive Order. In simple terms, it is still
valid.
This is Real Change that American’s and The World can believe in.
November 14th, 2008 at 5:54 am
If we were more like this guy, we would be far better off: http://www.youtube.com/watch?v.....re=related What do you think? Peace.
November 14th, 2008 at 7:50 am
End the FED. November 22nd rally in YOUR city with us!
http://www.RightToRedress.com
November 14th, 2008 at 8:29 am
Hey 21 if you want to copy n paste CnP all of it everyone CnP and send to all and everyone you know To all The FED CAN be shut down with 1 SIGNATURE.
On June 4, 1963, a virtually unknown Presidential decree, Executive Order
11110, was signed with the authority to basically strip the Federal Reserve
Bank of its power to loan money to the United States Federal Government at
interest. With the stroke of a pen, President Kennedy declared that the
privately owned Federal Reserve Bank would soon be out of business. The
Christian Common Law Institute has exhaustively researched this matter
through the Federal Register and Library of Congress and can now safely
conclude that this Executive Order has never been repealed, amended, or
superceded by any subsequent Executive Order. In simple terms, it is still
valid.
When President John Fitzgerald Kennedy – the author of Profiles in
Courage -signed this Order, it returned to the federal government,
specifically the Treasury Department, the Constitutional power to create and
issue currency -money – without going through the privately owned Federal
Reserve Bank.
President Kennedy’s Executive Order 11110 [the full text is displayed
further below] gave the Treasury Department the explicit authority:
“to issue silver certificates against any silver bullion, silver, or
standard silver dollars in the Treasury.”
This means that for every ounce of silver in the U.S. Treasury’s vault, the
government could introduce new money into circulation based on the silver
bullion physically held there. As a result, more than $4 billion in United
States Notes were brought into circulation in $2 and $5 denominations. $10
and $20 United States Notes were never circulated but were being printed by
the Treasury Department when Kennedy was assassinated. It appears obvious
that President Kennedy knew the Federal Reserve Notes being used as the
purported legal currency were contrary to the Constitution of the United
States of America. “United States Notes” were issued as an interest-free and
debt-free currency backed by silver reserves in the U.S. Treasury.
In the illustrations below, a “Federal Reserve Note” issued from the
private central bank of the United States (the Federal Reserve Bank a/k/a
Federal Reserve System), is compared with a “United States Note” from the
U.S. Treasury issued by President Kennedy’s Executive Order. They almost
look alike, except one says “Federal Reserve Note” on the top while the
other says “United States Note”. Also, the Federal Reserve Note has a green
seal and serial number while the United States Note has a red seal and
serial number.
President Kennedy was assassinated on November 22, 1963 and the United
States Notes he had issued were immediately taken out of circulation.
Federal Reserve Notes continued to serve as the legal currency of the
nation. According to the United States Secret Service, 99% of all U.S. paper
“currency” circulating in 1999 are Federal Reserve Notes.
Kennedy knew that if the silver-backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve Notes.
This is a very simple matter of economics. The USN was backed by silver and
the FRN was not backed by anything of intrinsic value. Executive Order 11110
should have prevented the national debt from reaching its current level
(virtually all of the nearly $9 trillion in federal debt has been created
since 1963) if LBJ or any subsequent President were to enforce it. It would
have almost immediately given the U.S. Government the ability to repay its
debt without going to the private Federal Reserve Banks and being charged
interest to create new “money”. Executive Order 11110 gave the U.S.A. the
ability to, once again, create its own money backed by silver and real value
worth something.
Again, just five months after Kennedy was assassinated, no more of the
Series 1958 “Silver Certificates” were issued either, and they were
subsequently removed from circulation.
Perhaps the assassination of JFK was a warning to all future
presidents not to interfere with the private Federal Reserve’s control over
the creation of money.
November 14th, 2008 at 10:51 am
I totally agree with post 21…It would be nice to hang the Federal Reserve’s board on the White house lawn…basically the have been committing Treason since 1913…Roosevelt was a crook as well. The last time the Dollar was worth 100 cents was 1933…FDR was a puppet at best…Traitor!
November 14th, 2008 at 11:55 am
Yup, looks more and more like they’re intentionally crashing the dollar into the ground.
$200 loaf of bread, coming soon to a grocery store near you.
November 18th, 2008 at 6:47 pm
It’s no wonder that we’ve become the scamming country that we are today; the Federal Reserve set the example. These scammers are taking this country down; thanks Paulson and Bernanke and Cox and Bush. And don’t forget Barney Frank.