Tuesday, May 12, 2009
Is History is repeating itself? Take a look, AND 9 Trillion lost by the Federal Reserve?
Video: Federal Reserve Cannot Account for $9 Trillion
: Julie Crawshaw
The Federal Reserve apparently can't account for $9 trillion in off-balance sheet transactions.
When Rep. Alan Grayson (D-Orlando) asked Inspector General Elizabeth Coleman of the Federal Reserve some very basic questions about where the trillions of dollars that have come from the Fed's expanded balance sheet, the IG didn't know.
Worse, nobody at the Fed seems to have any idea what the losses on its $2 trillion portfolio really are.
"I am shocked to find out that nobody at the Federal Reserve is keeping track of anything," Grayson says.
Grayson asked Coleman if her agency had done any research into the decision not to save Lehman Brothers, which “sent shockwaves through the entire financial system,” Coleman said it had not.
“What about the $1 trillion plus expansion of the Federal reserve’s balance sheet since last September?” Grayson asked.
“We have different connotations,” Coleman replied. “We’re actually conducting a fairly high-level review of the various lending facilities collectively.”
Translation: Nobody at the Fed knows where the money went.
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what is this guys youtube subscription name...i would like to see some of his other vids.
ReplyDeletecheers
myspacesecrets
ReplyDeletethanks
ReplyDeleteThe FED knows what they did with the 9 trillion.
ReplyDeleteThey're just not telling YOU.
Personally, I think they spent the money propping up the stock market and suppressing the price of gold.
History continually repeats itself. Most history we contemplate and study are human events. Human events are the direct outcome of human action governed by emotion.
ReplyDeleteThe emotional motivation and subsequent action by human beings is virtually unchanged since man has walked the earth.
History has always and will always repeat itself.
That is why we are in the same place many other nations have found themselves before their descent from power because of poor, self serving, policy decisions.
The FED knows exactly what it is doing. It exchanges pieces of paper for tangible goods. The more paper they have in circulation the more tangible goods they'll get in the end. We are looking at the last days of the Roman Empire.
ReplyDelete