In July, the first audit of the Federal Reserve Bank of New York (FRBNY) was published by the Government Accountability Office (GAO).
According to Senator Bernie Sanders :
“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. This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”
Between 2007 – 2010, the Federal Reserve banks provided “assistance” of more than a trillion dollars in “emergency loans” to stabilize the financial system.
A source in the Deutsche Bank explained that in 2008 our financial and monetary system completely collapsed and since that time the banking cartels have been “propping up the system” to make it appear as if everything was fine.
In reality our stock market and monetary systems are fake; meaning that there is nothing holding them in place except the illusion that they have been stabilized since the stock market crash nearly 5 years ago.
The Deutsche Bank informant claimed that the cause for the bailout of the banks was a large sum of cash needed to quickly repay China who had purchased large quantities of mortgage-backed securities that went belly-up when the global scam was realized.
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