Biggest Scam in World History Exposed

I recently had the pleasure of interviewing Congressman (TX) Dr. Ron Paul about these secret "backdoor bailouts" that amount to a staggering $16 trillion. (To get a better idea of just how much money this is, see What Does a Trillion Dollars Look Like?)

An AMAZING fact: The Federal bailout is more than the cost of the First World War, the Second World War, the Korean War, the Vietnam War, Marshall Plan, the New Deal, the Invasion of Iraq, and landing on the moon COMBINED!

And, with this bailout Obama has nearly created more debt than ALL the previous presidents COMBINED.

Dr. Paul is now the Chairman of the Congressional subcommittee overseeing the Federal Reserve, which as you may know, is a private entity yet largely responsible for our economic policies.

The Federal Reserve has now handed out multi-trillion dollar bailout packages to banks and big industries, and now, finally, people are starting to demand to know where all that money actually went—which is largely how Dr. Paul came to be the Chairman of this subcommittee in the first place.

To get answers, Dr. Paul, along with his son, has introduced legislation to enable an audit of the Federal Reserve. When asked what he thinks the audit might reveal, he says:

"The reason to have an audit is to find out what they're hiding. The information they're most protective of are the details of where many trillions of dollars used in the bailout went, and what the collateral was."

The Federal Reserve has also been extremely protective of information dealing with foreign central banks. However, according to Dr. Paul, preliminary figures show the Federal Reserve has engaged in some $16 trillion-worth of transactions, one-third of which were with banks overseas.

As Dr. Paul points out, there's no doubt that foreign banks have been major recipients of Federal Reserve funds.

"We want to know the details of what the agreements were," Paul says, "and whether any of that money will be recouped."

He also points out that an audit could reveal information that no one ever dreamed of, that the Federal Reserve never thought they'd be forced to reveal...

While I agree that people should know where the money went (we already know about multi-million dollar yacht parties for bank CEOs) the bailout project was a pet of Bush, not Obama.

'Course we can't let facts get in the way. An alarming percentage of Americans think the TARP program was passed under the Obama administration, and T-baggers want to keep it this way.

Nope, don't let all the facts get in the way. It was all Bush's fault. Had nothing to do with Congress and Clinton in the late 90's pushing the snowball down the hill.

This guy is probably the smartest guy in the whole world. Note the date on the article.

NY Times