Catherine Austin Fitts at Conference, 2014
This disclosure is in addition to the first-ever Congressional audit of the Fed that revealed a startling $16 trillion in secret bailouts.
This brings the grand total of previously unknown theft to $23.7 trillion which, interestingly enough, is the exact figure Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program,estimated in July 2009.
As Americans are being told that they need to tighten their belts and that Congress must do the same or the country will fall into economic ruin, these private bank bailouts, nearly double the size of the national debt, are handed out without any benefit to the public.
Indeed, it is of great detriment to the public who bear the brunt of the inflationary and tax burdens, as well as reduced public benefits forced by the failed Super Committee. Furthermore, it has been recently disclosed that the people’s FDIC will now backstop some $75 trillion in derivatives at Bank of America alone. And just today, they threw in a fresh new bailout of Europe that is just another temporary fix.
When will the people tire of bailing out a clearly broken monetary system?
The blatant raping of the American people couldn’t be more obvious. The once-fringe Tea Party activists who were spawned from their anger over a meager $700 billion TARP bailout have now seemingly swelled into what appears to be a global “Occupy” movement.
Regardless of their political differences, they both agree that the system of perpetual bailouts on the backs of Americans must end.
Perhaps the only two genuine public servants left in Congress are Ron Paul (R-TX) and Dennis Kucinich (D-OH); Paul being the early inspiration for the Tea Party, and Kucinich an early sympathizer with the Occupiers. Together they have clearly identified the Federal Reserve System as the disease, and have both proposed pragmatic solutions to cure the ills of the hijacked economy.
Before detailing their exact proposals, many people claim that the Federal Reserve System has a 100-year charter that will expire in 2013.
However, the original Federal Reserve Act only allowed for a 20-year charter until the law was changed in 1927 (6 years before the Fed was up for renewal) to allow perpetual renewal of federal corporations where charters could only be,
“dissolved by Act of Congress or until forfeiture of franchise for violation of law.”