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Federal Reserve Cannot Account For $9 Trillion
By Gold Investments on May 14, 2009 | More Posts By Gold Investments | Author's Website
Rep. Alan Grayson talks to the Federal Reserve Inspector General Elizabeth Coleman of the Federal Reserve, asking her questions regarding trillions of dollars that came from the Fed’s expanded balance sheet and what the losses on its $2 trillion portfolio are.
The Inspector General does not have the answers Grayson is looking for.
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.
Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed.
“I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer.
What about the trillions of off-balance transactions since last September, Grayson asked.
Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve.
Grayson pointed out that it was the inspector general’s job to audit such spending and asked again if the office had done any investigation at all.
Coleman’s answer: Not enough yet to even respond. “We are in not a position to say if there losses.”
Grayson concluded, “I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this.”
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I find this particularly disturbing. And I think a lot of other people do too. I just wish more of the American public cared. I think there is so much smoke and mirrors going on that are distracting most from this kind of stuff. That and the MSM is in the pocket of DC.
You know foreign countries like China are looking at this and are doing what they can to get out of the dollar. Shouldn’t be any wonder that China has been building up their gold reserves and is pushing the IMF to sell some more gold so that they can buy it with all those dollar reserves they’ve got.
People wonder why gold remains so high and it’s ineptitude like this that answer the question. Looking at the ExactPrice widget I see gold is at $926.60 right now. Even silver is up. My guess they will remain up until inflation sets in from printing all that money to make up for that missing trillions.
I liked what Peter Grandich had to say about this: “I must say this news and some follow-up research I’ve done in the wee hours scares the living daylight out of me. I’ve been in the trenches for 25 years. I remember the mood immediately after the 1987 stock market crash, sadly after 911 and other terrible events but in all honesty, this display of ineptness and bewilderment by the person in charge of watching the people in charge of the printing press, has taken me to new lows of confidence in my government and our future.”
The Fed is neither Federal, it is a private bank, nor does it have a reserve. They simply print money and lend it to the stupid US Govt. whose politicians are all bought and/or blackmailed, and dont dare raise finger nor a question. Each state shoulf do as North Dakota and have its own state bank, and that would belong to the state, not to the London Bamnkers.
Could this have anything to do with the 1 trillion dollars that Obama committed to the IMF at the G20 meeting?
No… that’s a different trillion dollars. Important that you should ask, though.
WAKE UP PEOPLE!!!! It’s time to take this country
back from the professional Mafia Capos who raped
us to the tune of FOURTTEEN TRILLION DOLLARS.
Going up against the oligarchs behind the curtain pulling the strings to Obama, The Fed, the CIA, the Military Industrial Prison Complex, and in bed with miscreants zionists is not going to be easy.
It wouldn’t be too hard if more people understood and cared. Tax revolts don’t actually require DOING anything, and if enough people participate, there’s nothing that can be done. I don’t think people understand how vulnerable the forces you’ve named are right now. THEY understand, which is why they’re acting so crazy.
Ron Paul is calling for an audit of the Federal Reserve and so far has gotten an impressive number of backers. He needs our continuing support. Put pressure on Congress (not that they will listen), write letters to your local newspapers. Keep putting it out there.
Look folks, the American economy, for the last 100 years has been financing the communistic take over of the entire planet. America was and is that “Sucker” born every minute. “They” needed an economic engine to finance this NWO and we were and are it! They did it by the power of the illegal Federal Reserve, IRS and fanatical congressional spending! We’re enslaved by an endless sea of federal debt! When they’re done with us they will annihilate us as though we were nothing more than a dog that has to be put to sleep.
Trust me when we are of no further use to the NWO this country will turned into one big prison camp and then what little resources are left will continue to flow out of the nation. The only thing holding “them” back is 90,000,000 gun owners and billions of rounds of ammunition, however I am not sure firearms will be a deterrent much longer.
I feel sorry for the young folks! We baby boomers failed to protect them because we were blinded by a false prosperity based on fiat money and wanton spending and borrowing. Sadly the up and coming generations will suffer the heavy hand of tyranny while we lie in our graves. Cowardice and Greed are common adulterous bed partners are they not?!… Good day.
I truly believe that the day of reconing is here now. We had better bring our troops home soon. Secure our borders and help our own. The USA is very disappointing indeed and what they have allowed to go on on our watch.
Our Government believes we should convert the world into Democracy and Capitalism. It is not working here and the whole system is on shaky ground.
OUR Government is owned by the European Union and so is our Federal Reserve. “Off the Backs of Many a few have Prospered.” I am sickened, angry and believe that there is a huge revolution going on in the hearts and minds of every man and woman in this country.
They are trying to take away our right to Bear Arms. I am all for Dennis Kucinich and what he is trying and has been trying to tell the people for years.
We have been led by a Government that is “Of the Government, By the Government and For the Government” and not for the will of the people.
People are angry and are rioting and protesting but the News does not show this????
There is a Revolution coming??? Why are states succeeding from the UNION. Because they are sick of being told what to do and where to send their tax dollars.
Sincerely,
Trisha Springstead
hope your doctoral degree studies include some spelling classes; ironically, states do “succeed” from (being part of) the union.
sorry I spelled a word wrong meathead.
not only a “silent” tax revolt, but withdrawal your money into cash. The bank needs deposits to fractionally lend. You can get better deals using cash too. If enough people do this, it will cripple them.
HR1207 Audit the Fed
Urge your Congressman to co-sponsor it. They need 43 more to get it past Barney Franks. (i.e., FED puppet)
Don’t worry–I’m sure they spent all that money on stuff that will serve their citizens well, like health care, infrastructure, schools, social programs…
There’s no way they’d pocket it or spend it on themselves! This is America, after all!!!
not the 1st
time,
is it?
how about this one?
http://www.wanttoknow.info/corruptiongovernmentmilitary
stop picking on lizzy coleman.
She has a nice smile. She does well
on the verbal part of her IQ tests.
Leave her alone.
She can babble. She does what the
masters want.
She tap dances better than M. Begin ever did.
My personal belief is - the best thing to do is to go back to the original documents that founded this country. Get rid of all of the amendments (which were just put there to reduce the strength of the original). TEACH the documents to everyone, how many of you have ever read them. For all our technology, brains and education have made us dumber. We have a reduced vocbulary, reduced knowledge of how to feed and protect ourselves. This country was founded on the principle of freedom, so instead of being serfs or slaves to the landlord, we are now just servants and slaves to our banks and employers - is that real progress.
Has anyone checked in Israel?
Relax…plan to self-sustain. Do you have a brother who lives in Idaho or another free state?…, has spring water, guns, food stores, a garden, generator, solar, etc? It’s a little late to have a ‘revolution’…with the goons we’ve put in the govt, including the current Exec.branch
Have some gold…it could triple…Just be ready…expect the unexpected..talk is cheap.
That’s the Fed’s scam: it prints and “gives” money to its member banks, esp. Rockefeller’s Chase and the Warburg favorites, so that they get money for free. They pretend to be selling bonds, but it’s money for nothing. The Fed was created as a counter-revolution by the old money mafia that had previously been shut out of the US (includes Rothschild affiliates). The question is, who gets money when the economy “grows” (lends more money)? When a bank lends out 30 time more money that it has, does that qualify it to get newly printed Federal Reserve cash? That’s the Fed Reserve mafia’s scam. That trillion that disappeared is like much more that was “created” to be given to a small financial mafia. It’s a betrayal of the American Revolution.
WTF?!
She talked in circles and said nothing. Where do they find these people? I’ve seen public school elementary teachers who are smarter than her!
And yes, secede = succeed.
Hey Folks
Let’s say its a given the US Federal Reserve is a private bank. Lets assume the US Federal Reserve act of 1913 gives them a monopoly to invent money out of thin air AND control interest rates. hmm think about it!
My question is why aren’t more American’s putting 2 and 2 together and seeing the US Federal Reserve as a form of legally institutionalized loan sharking?? Why do I suggest that, because it is the Fed that lends the Money to the US Government when they need to invent a trillion US Dollars out of thin air AND then charges the US taxpayer interest on money that cost them next to NOTHING to make and lend.
NOW these same loan sharks (US Federal Reserve, who cannot be audited by Congress and are not accountable to the US tax payer) plan to turn around and RAISE the interest rate on the debt they invented out of thin air!
Get a GRIP people, this is the biggest SCAM in the history of the Global Financial system.
The whole Crisis started with Fractional Reserve banking, the US Federal Reserve is the ROOT cause of OVER leveraged Fractional Reserve banks, and NOW to fix the financial system they go to Congress and say “you MUST spend $700 Billions dollars and bail out the financial system or there will be a crisis of huge proportion the sky is falling!” (AND oh by the way WE are the US financial system so we are insisting you borrow the $700 Billion from us (they we just invented out of thin air) and spend it Via the US Treasury on the Bail outs, and “oh by the way” we will give you a break on the interest because for the time being we have dropped the borrowing rate. (to 0 for the time being!)
When times get better, the debt is still there and the Loan Shark Fed will raise the interest rate in the guise of prevent run away hyper inflation. (you watch!)
Who wins? the Private Member banks that OWN the US Federal Reserve.
This is in fact the Crime of the Century, and most folks can’t even see it, let alone do ANYTHING about it!