The recent audit of the Federal Reserve showed that between Dec 2007 and Jul 2010, the Federal Reserve created a whopping $16 TRILLION dollars from thin air and gave it to various banks across the globe.
It has now been revealed, only because the info was obtained via freedom of info laws, that the Federal Reserve loaned 7.7 TRILLION dollars during the crisis to banks all over the world as well as in the US without ever revealing this information.
Over those 25 years the sum of yearly imbalances amounts to some 16 to 20 TRILLION dollars hanging out in the world (the off ledger amount, due DOD and Intel aid, along with tax evasion and drug bux may make it considerably higher).
"poor" people created all those CDS's out there with a face value of over 500 TRILLION dollars, which is many times more than the GDP of every nation in the world!
Or, for comparison, in the same time frame from 2009 to the end of 2015, the U.S. will have spent nearly four TRILLION dollars on its Medicare program.
Michael, Corona Our country is in debt several TRILLION dollars.
We should be putting solar panels on EVERY building, and its is not like we don't have the money when we just give $16 TRILLION dollars to the banks without a hint of inflation caused by too much money!