FInally from the horses mouth 9 trillion missing

[JMJ]

I'm sure many of you have seen my posts regarding the Fed and the other banksters we're stealing trillions of dollars as far back as August September of last year. Well here it is from their own mouth in case you missed it today.

Tuesday, May 12, 2009 12:30 PM

By: Julie Crawshaw Article Font Size

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.

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."

Meanwhile, Federal Reserve Chairman Ben Bernanke says the bank is working on ways to rein in the massive balance sheet commitments.

"A majority of the members who made these projections just recently took 2 percent as being an appropriate number" for inflation, Bernanke said Monday.

"Somewhere between 1-1/2 to 2 percent is basically the number that our committee has individually stated is the appropriate medium-term inflation rate.

"To achieve that we need to demonstrate that we will be able to exit from the balance sheet position that we currently have, and have been working on this intensively," Bernanke said in response to questions after a speech to a conference organized by the Federal Reserve Bank of Atlanta, reported by Reuters.


http://moneynews.newsmax.com/finance...12/213463.html


http://www.youtube.com/watch?v=PXlxBeAvsB8

[Creature]

Problem is that virtually no American appears to care about this. Yet this could end with the doller=zero in between 2 and 4 years according to RonPaul. What then...............?

[copper]

Problem is that virtually no American appears to care about this. Yet this could end with the doller=zero in between 2 and 4 years according to RonPaul. What then...............?

Print more $?
Oops.
That's hyperinflation :(

[Creature]

Print more $?
Oops.
That's hyperinflation :(

Seems like that's the basic problem. Poor Ron is banging his head against a brick wall: http://www.youtube.com/watch?v=dv6rQ0U01Yc

[JMJ]

Everyone in the US needs to contact your representatives in support of HR 1207 to audit the Fed http://www.govtrack.us/congress/bill.xpd?bill=h111-1207

These people can no longer go unchecked. That 9 trillion unaccounted for money is billed you to and I the tax payer PLUS INTEREST. I don't know about anyone else but if someone is going to tell me I owe some money I want to know what the hell I owe it for. To give you an idea of how much money 9 trillion is it would pay off nearly every single home mortgage with a outstanding balance in the entire US. And whats happening? Families all over the country are getting kicked out of their homes for being a few months late. Some are even getting their homes foreclosed on because they can't get refinanced when their loans are called in not even being late.

Here's a list of representatives you need to get in touch with to get it out of committee and onto the floor for a vote.

http://www.ronpaul.com/on-the-issues...serve-hr-1207/

[Raider]

Problem is that virtually no American appears to care about this. Yet this could end with the doller=zero in between 2 and 4 years according to RonPaul. What then...............?

Agree... And add to that the Trillions of dollars Obama is blowing in Tarp and Stimulus money, which will make the dollar worthless a lot sooner.

And let us not forget his plan to nationalize health care, where's that money going to come from? Are we going to print it up? Borrow it? or tax an already weak economy while trying to pay off the debt?

Look at the Billions they wasted trying to save GM, now we hear GM will have to file BK anyway.

We have a President and Congress who have NO clue how to get this economy moving again, Their doing all the things that DON'T work and ignoring the things that do work.

America voted for a tax and spend Liberal and got one.

[draggar]

Problem is that virtually no American appears to care about this. Yet this could end with the doller=zero in between 2 and 4 years according to RonPaul. What then...............?

Print more $?
Oops.
That's hyperinflation :(

Isn't this going on in an African nation right now where their money is worth less than the money it is printed on, costs billions to buy a loaf of bread?

Wasn't it like that in Germany after WWI?

History repeats itself and our "leaders" are the ones who seem to be extremely ignorant of this and the past.

[Gerry]

This is what happens when you have someone like Paulson come up with a plan and endorsed by another oilman posing as president of the US to concoct a scheme allowing for the borrowing of 750 billion "at a time" and increasing the federal reserve debt to $11.3 Trillion without any oversight, to be given at his discretion, and not subject to review.

Not only was this a proposal but it was a Bill that was signed into law!

All hail the mighty fine print!

[draggar]

This is what happens when you have someone like Paulson come up with a plan and endorsed by another oilman posing as president of the US to concoct a scheme allowing for the borrowing of 750 billion "at a time" and increasing the federal reserve debt to $11.3 Trillion without any oversight, to be given at his discretion, and not subject to review.

Not only was this a proposal but it was a Bill that was signed into law!

All hail the mighty fine print!

If it was signed into law then you can't just blame one or two people. Our congress (the house and the senate) both approved it and even if the president rejected it - they could have told him where to go and forced him to sign it.

Now is the time to see how our congressmen and women voted and voice our opinions to them.

[Gerry]

If it was signed into law then you can't just blame one or two people. Our congress (the house and the senate) both approved it and even if the president rejected it - they could have told him where to go and forced him to sign it.

Now is the time to see how our congressmen and women voted and voice our opinions to them.

That is correct. This was last fall when the entire congress was up against the wall, the Administration was playing the "fear factor" of the collapse financial system. The measure, as you may all remember or not remember, was initially vetoed which even spread fear and panic deeper into the American people. The PRIMARY reason this measure was voted NO is because many in the Congress were calling for the outster of all the CEO's and top people in those failed companies. The chairman of AIG, the biggest debacle of all time, announced his resignation in anticipation of this being written into law.

However, AGAIN the pressing of WE MUST DO SOMETHING! ANYTHING! was heard loud and clear in Washington, DC and that measure, ousting the CEO's, CFO's, COO's, was removed from the verbiage and the bill authorizing the pouring in of billions of dollars into these arrogant bastards pockets began flowing.

In a surprise move, the chairman of AIG was immediately rehired by the AIG board.

Now tell me this is not the biggest crock of shit you have ever read in your life. This is true and factual and very well documented.

As for these hearings, as I mentioned previously...

The entire shabang is in the hands and under control by Paulson. Ms. Crawford is not privileged to that information.

So if you want to write to any one, write to the dumbasses that want to stage a photo-op for the benefit of re-election.

Spending taxpayers' dollars on needless, wasteful time consuming and money and resource consuming efforts is a sham! This stupid **** asking the questions need to read the bill/law. Not even the supreme court of the United States can ask a damn question.

Actually, the supreme court of the US (just like the citizens of the US) have every right to ask questions and demand answers. You can demand anything you want to. That does not wash away the fact that Paulson is not obligated or held accountable to anyone - NOT EVEN GOD!

I want a job like his - Paulson, that is. Being a god is too complicated and too many people already believe they are god.

Paulson is cool, chilled, suave and untouchable.

[JMJ]

This isn't just on the Bush/Paulson clan it's Obama/Geitner as well. Geitner was the head of the NY Fed who was doling all of the dough out.

[Raider]

This isn't just on the Bush/Paulson clan it's Obama/Geitner as well. Geitner was the head of the NY Fed who was doling all of the dough out.

Dont you just love all the smoke and mirrors in DocCom's posts? It's classic Doc, Do you notice how he leaves out any and all responsibility from the Obama administration?.... It's as though Obama can do NO wrong.

For example; The Air Force 1 flyover that cost the tax payer 300 THOUSAND DOLLARS, The one Obama ordered but found a scapegoat for, The one that caused a public panic over New York city. The one that could of been avoided using PhotoShop saving the tax payer $300K.

Or what about the $450 MILLION dollars in scheduled AIG bonuses under the OBAMA administration? Where is the oversight with that?

Where is the outrage from our passionate Liberal on this one? You wont find it here folks, He's too busy going after Bush & Paulson for no oversight.

Be warned, your dealing with the biggest hypocrite on DNF.

[Arrogance]

Isn't this going on in an African nation right now where their money is worth less than the money it is printed on, costs billions to buy a loaf of bread?

Wasn't it like that in Germany after WWI?

History repeats itself and our "leaders" are the ones who seem to be extremely ignorant of this and the past.

Believe that would be Zimbabwe.

"On January 16, 2009, Zimbabwe announced plans for imminent issue of banknotes of $10 trillion, $20 trillion, $50 trillion, and $100 trillion. At the time of the announcement, the latter was valued at ca. 30 US dollars, but that value is expected to evaporate swiftly."
http://news.bbc.co.uk/2/hi/africa/7832601.stm
Who knows where the amount will end, as this was in January.

But I agree that there is enough blame to go around, and it was a concerted effort between a number of parties resulting in the current economic woes and missing/mismanaged funds

[Creature]

Chilling: http://www.youtube.com/watch?v=Mj0JAfq4esk -

Should get interesting if HR1207 gets passed. As of yesterday HR1207:
156 co-sponsors and only 62 co-sponsors away from the goal of 218
http://www.campaignforliberty.com/#18065

[Gerry]

This isn't just on the Bush/Paulson clan it's Obama/Geitner as well. Geitner was the head of the NY Fed who was doling all of the dough out.

You really, really, REALLY NEED TO READ THE BILL.

Don't take my word for the wording, read it your self.

Because I sure as hell am not taking your word or anyone else's word except the actual bill as it was signed into law.

Paulson and ONLY PAULSON AND HIS APPOINTEES has reins over the entire

$750 billion

at a time

up to

nearly $11.5

trillion.

It is the word of the law. Not the word of doc com or anyone else.

It is written right there in plain english and in no way shape or fashion could it possibly be misinterpreted or misconstrued as anything that what Paulson himself wrote, the Congress passed, and the President signed.

If you people are too damn lazy to look things up yourself then I can not and will not help you.

[JMJ]

Dont you just love all the smoke and mirrors in DocCom's posts? It's classic Doc, Do you notice how he leaves out any and all responsibility from the Obama administration?.... It's as though Obama can do NO wrong.

For example; The Air Force 1 flyover that cost the tax payer 300 THOUSAND DOLLARS, The one Obama ordered but found a scapegoat for, The one that caused a public panic over New York city. The one that could of been avoided using PhotoShop saving the tax payer $300K.

Or what about the $450 MILLION dollars in scheduled AIG bonuses under the OBAMA administration? Where is the oversight with that?

Where is the outrage from our passionate Liberal on this one? You wont find it here folks, He's too busy going after Bush & Paulson for no oversight.

Be warned, your dealing with the biggest hypocrite on DNF.

While Doc and I don't see eye to eye on everything I do believe his heart is in the right place. He's just one of those see no evil types. You play a big partisan role on this board as well Raider. This is what people need to get away from and understand that these people are just playing opposite sides of the same coin. They continue the agenda of the previous Administration. They are covering each others asses. I honestly believe we are on the verge of someone coming forward because their game is exposed and somebody is going to squeal to save his/her own ass.. The bio-engineered swine/bird/human flu outbreak I believe was suppose to get everyone to take their eyes off of the ball and that should be a warning to all that someone doesn't like the heat from the fire that surrounds them.

You really, really, REALLY NEED TO READ THE BILL.

Don't take my word for the wording, read it your self.

Because I sure as hell am not taking your word or anyone else's word except the actual bill as it was signed into law.

Paulson and ONLY PAULSON AND HIS APPOINTEES has reins over the entire

$750 billion

at a time

up to

nearly $11.5

trillion.

It is the word of the law. Not the word of doc com or anyone else.

It is written right there in plain english and in no way shape or fashion could it possibly be misinterpreted or misconstrued as anything that what Paulson himself wrote, the Congress passed, and the President signed.

If you people are too damn lazy to look things up yourself then I can not and will not help you.

Geitner is HIS APPOINTEE. Geitner distributed the funds.

[Gerry]

Hmm, the dunce seems to forget that the AIG thing was nothing could be done as it was signed, sealed, and delivered last fall.

Lets throw a pile of elephant shit in the fan and see where it falls...

oh, there it fell on the air for one issue, ooo...back to the AIG fiasco that was signed sealed and delivered with GOP cheesecake would be my guess, ooo...it watches Jay Leno as that PhotoShop joke was just mentioned ....

And still, the blabbermouth dumbf*cks have YET to read the Paulson plan and say,

Doc - you are wrong. That is NOT what the paulson plan says.

Not a damn one of you who call yourselves conservative want to even tackle that issue, right?

Remember that pile of elephant shit you threw? Just remember, no matter where it falls it was elephant shit before it went into the fan.

Please tell me you people are not that ****in' stupid to decipher that.

Back to the issue at hand...

why have a hearing (I don't give a shit if it is a DEM, GOP or a Jellyfish spineless member in this thread conducting) on a subject that NO ONE can do a damn thing about???

Account for what money? The money that has been "earmarked"? Money that was to go to other venues (remember the mortgage debt relief?) but was diverted to Banks, Investment Firms, and Auto makers AT THE SOLE discretion of Paulson and when asked about why hasn't a single penny of money gone to help the taxpayer and consumer and Paulson said he had the right to change his mind?

What, you all did not see that news? Had you faces and noses buried too deep in the ass cheeks of Rush? He is the Larry Flynt of politics, ain't he?

[JMJ]

They are all playing on the same team DOC. Geitner just took the baton and ran for the finish line and he's covering up everyone's tracks along the way. I've never listened to Rush in my life BTW and I'm by no means a Republican or Democrat. Both sides of that coin can kiss my a$$. I was for Obama at one time until I figured out he's just as much of a two-faced P.O.S. as the rest.

[Gerry]

Surely, you people aren't allowed out in public are you?

Are you allowed to mingle with the real people of the world?

Is it okay for you people to touch or brush up against one of the opposite party without being persecuted by the GOP henchmen?

Do you shop at a GOP-Mart (actually, that may be a PEROT-Mart), or a bushco locally?


Honestly, there is no point in discussing these issues with some of the members. How you can profess to be knowledgeable and informed on matters of life let alone policy and government ought to be criminal. And in some countries it is.

Without a doubt the largest collective body of bullshit, dumbasses, ignorant humans ever assembled in one place right here in this thread.

[JMJ]

The rich get richer on Wall Street
As more banks raise money to repay bailout loans, that means big fees for Goldman Sachs, JPMorgan Chase and Morgan Stanley.

http://money.cnn.com/2009/05/13/news...ney_topstories