Where did our trillions go?

Consider that America's Reagan Banks loaned the money belonging to our middle class citizens (Mutual Funds, Trust Funds, 401ks, retirement savings, educational funds, University endowments, etc.) to Italy, Chile, Spain, and a dozen other countries at interest rates of around 7-8%, while paying 1-2% to these "depositors". The spread was what made these "banks" so profitable and the interest was what was supposed to "trickle down" on you during the thirty years since "Reaganomics" began. Of course, the bankers diverted the spread into their own accounts and kept it, sharing it liberally with the CEOs and Wall Street brokerages who sold these "loans" to these foreign borrowers through the European "correspondent" banks.

When it became apparent the borrowers could never repay the loans, European banks who were in the middle of these transactions as the "nominal lenders" were about
to close the doors and admit their bankruptcy. To prevent that, the U.S. Govy printed a couple of $Trillion of currency and "loaned it" to the European banks to sustain their liquidity. If the European Common Market will agree to print a similar amount of money and replace the U.S. currency, our money can be brought home and the Fed can pretend the crisis never existed and this huge boatload of currency will not create double or triple digit inflation both here and in Europe. But, good news, it may not trigger inflation as it slowly replaces liquidity missing in the original "depositors" accounts.

Did this happen in just this manner? Want to ask Bernanke or your nearest Senator or Congressman? Let me know what they say, please. Don't tell them I suggested this
scenario.