Daily Archives: 22/07/2011

( The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

Read more:





In Chile the student strike continues in full force with occupations, demos and clashes with the cops. Amongst the demands are constitutional changes for free public education but there is also a strong insurrectionist flame blowing through the youth of the land as “ecapuchadxs” (the hooded) seek total destruction of the establishment.

From Liberación Total,
translated from spanish by sabotagemedia:

Thursday July 14, a call out for a new national strike for education was answered as demonstrations were held in various regions. In Santiago a massive student demonstration took the Alameda without government authorization.

The first clashes and riots in Santiago were around 12:30pm. The hooded armed with stones, sticks, paint bombs and Molotovs began attacking police, along with destroying the the street signs, law enforcement responded with their water canons, mounted police and tear gas, breaking with the siege of security that is installed for each demonstration.

The transit through the Alameda and surrounding areas was kept interrupted and diverted for several hours, until past 17:00, the last incidents reported in front of USACH (University of Santiago de Chile) where there were barricades risen and clashes.

The riots spread to different places, at the intersection of Alameda Manuel Rodriguez were reported attacks to the Embassy of Brazil with Molotov cocktails after some cops took refuge inside.

Further along, the Alameda, Santiago’s main avenue was disturbed in continuous occasions with barricades where banks were also attacked, and at the hight of Republica Street an Army office was attacked resulting in their windows being destroyed. A car was overturned and burned in the intersection of Santa Isabel and San Isidro by subjects who fled.

Read more: