Former U.S. congressman Alan Grayson (D-FL) appeared on Countdown Monday evening to discuss how an audit of the Federal Reserve revealed the private bank giving $26 trillion to U.S and foreign banks without Congress’ authorization.
“For the first time in history, I’m talking the 100 year history of the Federal Reserve, they played favorites,” Grayson told host Keith Olbermann. “They said we’ll give a hundred billion to this institution, another hundred billion to this institution, and so on down the line, when you and I couldn’t even come close to accessing that kind of money of those terms.”
There is something Grayson doesn’t mention in the link below. Goldman Sacs received billions of dollars in loans from the Fed at 0.001 percent interest. Then Goldman lent the money back to the federal government at a much higher interest rate. Shortly after that, Goldman reported record earnings for its rich investors and CEOs thanks to this scam. In other words, the Fed was the architect of a scam to redistribute income from working Americans to rich investors. That’s because the government pays the interest on its debt out of the money it takes in the form of taxes. Some of that tax money went to the rich investors of Goldman Sacs because they’d borrowed cheap and lent it back at the higher rate. This was another corporate/rich person welfare scam engineered by the Federal Reserve and your government looked the other way. Once again the affluent were too rich to be allowed to look stupid in their failure. So the government bailed them out. (John Hively)