Standing Up To The Federal Reserve

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Editor:

What would you say if you knew that the U.S. Fed gave over $16 trillion dollars to U.S. and foreign banks and corporations? Although almost impossible to believe, it’s tragically true.

The U.S. Federal Reserve was recently audited for the first time in its history. It happened because U.S. Senator Bernie Sanders (I-Vt.) insisted on it as a condition of the Wall Street bailout last year. The audit was just completed by the Government Accountability Office (GAO) and covered events that occurred between Dec 1, 2007 and July 21, 2010. The entire 266-page GAO audit can be viewed at www.sanders.senate.gov/imo/media/doc/GAO Fed Investigation.pdf. (see the chart on page 131).

Literally hundreds of billions of dollars were “loaned” to U.S. banks and Wall Street firms as well as banks and corporations in France, Switzerland, Belgium, Germany and the United Kingdom. Meanwhile, tens of millions of regular, ordinary Americans are out of work and millions of homeowners in America have lost their homes to bank foreclosure.

Kinda makes you wonder whose side our Congress and the Fed is on, doesn’t it? If you’re not one of the wealthiest 1 percent of Americans, it sure isn’t you.

But now you know. The question is: What can you do about it?

You are not powerless. Exercise your right to protest. Exercise your right to vote. We are the 99 percent. It’s time to throw out the members of Congress that are purchased with billionaires’ dollars and our sweat, blood and tears.

Larry Brophy

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