In an article entitled “The con of the century – Federal Reserve made $9 trillion in short-term loans to only 18 financial institutions. Since 2000 the US dollar has fallen by 33 percent. The hidden cost of the bailouts,” My Budget360 details the lending and behavior of the Fed:
… the Fed operated as a global pawnshop taking in practically anything the banks had for collateral. What is even more disturbing is that the Federal Reserve did not enact any punitive charges to these borrowers so you had banks like Goldman Sachs utilizing the crisis to siphon off cheap collateral. The Fed is quick to point out that “taxpayers were fully protected” but mention little of the destruction they have caused to the US dollar. This is a hidden cost to Americans and it also didn’t help that they were the fuel that set off the biggest global housing bubble ever witnessed by humanity.
If the fact that the purchasing power of the dollar decreased by 1/3 in ten years (according to government data; much more according to Shadowstats.com) doesn’t trouble you enough, read the article to really get upset at what has occurred in this unaccountable, non-governmental agency we call the Federal Reserve.
[...] of the cabal, knew how much virtual money Bernanke was creating or who benefited from it (see Monty Pelerin and My Budget [...]