According to Lord James of Blackheath speech in the UK House of Lords there's evidence that a $15 trillon conspiracy/fraud is going on.
In particular he says:
"Today, I have this quite frightening piece of paper [...] It is from the general audit office of the Federal Reserve in Washington-the real Federal Reserve-and its audit review to the end of July 2010 on the Federal Reserve Bank of New York. It has on it some 20 banks listed to which $16.115 trillion is outstanding in loans. That is the sore thumb that was being looked for by my noble friend Lord Sassoon. [...] most extraordinarily, not a penny of interest does the Federal Bank of New York want paid on that vast amount, $16 trillion. "
Does the apparent existence of those $16.115 trillion in outstanding loans suggest that something fishy in the way that Blackheath suggests goes on?
Bonus points: It would be nice to understand what Blackheath means with his argument about
"you put [the money] through an MTN-trading bank, which is then able to use the funds on the overnight European MTN trading market where they can earn between 1 per cent and 2.5 per cent profit per night. "