Federal Reserve Cannot Account for $9 Trillion

Federal Reserve Cannot Account for $9 Trillion

moneynews.newsmax.com

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.

(visit the link for the full news article)

There you have it folks, 9 Trillion dollars!!





No one has the jurisdiction to audit the federal reserve and as a result 9 Trillion dollars are unaccounted for. This pracically makes the case for HR 1207 to audit the fed. The shroud of secrecy must be lifted. We deserve to know if these trillions have found there way into the pockets of the owners of the federal reserve bank.

moneynews.newsmax.com
(visit the link for the full news article)

[edit on 5/12/2009 by AlienChaser]

Here's video

Funny how our national debt is over 11 trillion?! Perhaps, if we were able to find that money we could make a substantial dent into that number. Apparently black holes aren't found only in space, we've located one directly below the Federal Reserve, right here on Earth.

[edit on 12-5-2009 by searching4truth]

[edit on 12-5-2009 by searching4truth]

I think you are being a tad bit harsh on the FED here
I mean come on, it's easy to lose 9trillion dollars

The other day I lost a nickel

should 9 trillion be treated just like a nickel you say?

well, same amount of response from the people anyhow




hyperinflation isn't important?

Does anyone know how I can hide $9 trillion I just came into? I really don't want to pay the taxes on it and my volcano lair isn't ready yet.

reply to post by ModernAcademia

I think you are being a tad bit harsh on the FED here
I mean come on, it's easy to lose 9trillion dollars

That's about it according to them. In the video on the OP she just keeps saying I don't know, uh I don't know, while some chick behind her keeps feeding her answers. The guy questioning her is awesome

I posted the Grayson video last week in the thread here.
www.abovetopsecret.com...

Didn't get a whole lot of attention.

I guess it throws people off when someone besides Ron Paul is questioning the Federal Reserve.....and a Democrat to boot.

just goes to show that the whole system is contrived and artificial, if any amount of money can come and go at will and nothing happens, the real question becomes what the use of fractional reserve notes really is?

a religious sacrament?

idolatry?

idiocy?

(forced) servitude?



or maybe all of the above? inmates. running. asylum. check!

Ok, I'm going to show my ignorance here. What exactly are off-balance sheet transactions?

9Trillion dollars! That's just...I don't even know what to say.

reply to post by David9176

I did search. Newsmax posted the article at 12:30.

I thought the video was great, and I am very curious about the trillions in off balance sheet lending that is were most of the missing money is.

Something is very wrong here.

Hr1207 = 149

9 Trillion - $30,000 for every man woman and child in the USA just magically disappeared. Kind of like 2 Trillion went missing just before 9/11 from the pentagon. So what can we expect in the coming months?

reply to post by Simon_Boudreaux

off-balance sheet transactions finance definition

Financial deals and arrangements that can have a material affect on a company but are structured in such a way that they do not show up on a company’s balance sheet and do not affect a company’s borrowing capacity.

Off-balance sheet activities took on huge importance in 2001 when the off-balance sheet deals that Enron Corp. had engaged in came to light.

Because the details about off-balance sheet activities are unknown to investors, the off-balance sheet transactions can hide a significant amount of liability.

source

But don't worry as ModernAcadamia pointed out, It's ONLY 9 Trillion dollars.

I want to know where that money is, or who did they borrow it to, or is it really even there??

reply to post by Simon_Boudreaux


Put it this way
the mere fact that they lost it in off-balance sheet transactions means it's a scam.

That's how enron tried doing it

It's just transactions that don't appear in a companie's balance sheets and investors don't get to know how/why/when those transactions were done.

It's basically almost untracable transactions and is THE best way to hide money.

They should be illegal, I don't know why they aren't
So i'm going to say if they already are then I apologize

reply to post by AlienChaser


Oh i know it's cool..title is different...iv'e done the same thing many times on accident. I was just stating that it was ignored for the most part.

It's just nice to see someone other than Ron Paul speaking up.

It's not surprising to me that this guy (Grayson) is NEW. He hasn't been tainted yet.

We need to get the old crooked men out of Congress.

reply to post by David9176

It's not surprising to me that this guy (Grayson) is NEW. He hasn't been tainted yet.

Yes, the way he kept hammering at her

(paraphrase) ...YOU are the inspector general are you not?
...I am asking YOU do YOU know anything?
...My time is up but I have to say I am SHOCKED that NOBODY knows about this money!

Very refreshing indeed.

When I put on C-span today just to see if if they were talking about anything that, you know, might have relevance. Something that matters in the running of our country. You know what they were discussing? whether or not to recognize national nurses week this year Go nurses

...meanwhile, my Congressman, David Wu (Oregon), doesn't believe HR 1207 is warranted, stating "I respectfully disagree that being an independent agency makes Federal Reserve in any way less accountable to the American people".

To the wise ATS members tuning in, how would you attempt to change the mind of your congressman if he believed this way?

For those interested here is Congressman David Wu's email in full:

Thank you for contacting me to express your concerns with the transparency of the Federal Reserve. I appreciate knowing your thoughts on this important issue.

In 1913, Congress implemented the Federal Reserve Act, which created the Federal Reserve System to serve as the central bank for the United States. The Federal Reserve formulates the nation's monetary policy, supervises and regulates banks, and provides a variety of financial services to depository financial institutions and the federal government. The System comprises three major components, the Board of Governors, a network of 12 Federal Reserve Banks, and member banks.

Congress is currently considering H.R. 1207, the Federal Reserve Transparency Act of 2009, which was introduced by Congressman Ron Paul (TX). If enacted, this bill will reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported to Congress. H.R. 1207 has been referred to the House Financial Services Committee for further consideration.

I appreciate your concerns regarding the Federal Reserve System; however, I respectfully disagree that being an independent agency makes the Federal Reserve in any way less accountable to the American people. Congress created the Federal Reserve as an independent agency to protect it from excessive political and private pressures. At the same time, the Federal Reserve is accountable to Congress by both law and practice. The seven members of the board are appointed by the president with the advice and consent of the U.S. Senate, and Congress routinely monitors the Federal Reserve System through formal and informal oversight activities.

That being said, I understand your concerns with the Federal Reserve. Sound monetary policy is essential to the health of our economy and the wellbeing of the American people, and I will continue monitoring this issue closely. As Congress continues to debate the Federal Reserve Transparency Act of 2009, I will keep your support in mind.

Thank you again for sharing your views on this issue. If I can be further assistance, please contact my Oregon office at 503-326-2901 or 800-422-4003.

With warm regards,
David Wu
Member of Congress

Originally posted by burlysoft
...meanwhile, my Congressman, David Wu (Oregon), doesn't believe HR 1207 is warranted, stating "I respectfully disagree that being an independent agency makes Federal Reserve in any way less accountable to the American people".

To the wise ATS members tuning in, how would you attempt to change the mind of your congressman if he believed this way?

For those interested here is Congressman David Wu's email in full:

snip full email

I would not concentrate on the idea of the Federal Reserve being illigitimate, that's just too far for most people to accept right now. I would push on the fact that this is the nations central bank, and for congress to not be able to audit it fully makes a mockery of the idea of transparency. I believe there is a video of either greenspan or bernanke confirming that the central bank does not have to answer to the government in anyway.

EDIT, here it one, start at 7:40, he says that no branch of government can ever overrule the Federal Reserve.




[edit on 12/5/2009 by RubberBaron]

Originally posted by ExPostFacto
9 Trillion - $30,000 for every man woman and child in the USA just magically disappeared. Kind of like 2 Trillion went missing just before 9/11 from the pentagon. So what can we expect in the coming months?

I dont know why dont we ask the new landlord.

this is absolutely terrible.

why did we ever give them money... oh wait... THE PEOPLE DIDNT!

what a huge scam

i felt his frustration while watching that.