$9 Trillion Dollars Unaccounted For

From Zero Hedge:

This video is a must watch for anyone who wants to understand just how “effective” the Fed is at safeguarding taxpayer money. Apparently nobody at the Federal Reserve has any clue where the trillions of dollars that have come from the Fed’s expanded balance sheet have gone. Additionally, nobody there seems to have any idea what the losses on the Fed’s $2 trillion portfolio really are.

As for the pittance of $9 trillion in Fed off-balance sheet transactions over the past 8 months, well, yeah, that’s also somewhere out there… Just don’t ask the Federal Reserve where.

Rep. Alan Grayson summarizes it best “I am shocked to find out that nobody at the Federal Reserve is keeping track of anything.”

I’ll sleep well tonight.


2 responses to “$9 Trillion Dollars Unaccounted For

  • Barb Miller

    Truly unbelievable!!!!!

  • David Lyhand

    The fact is that the Federal Reserve under law (31 USCA §714) of the Federal Reserve Act exempts them from requiring any information about any of their internal financial decisions or conduct in monetary policy. SUPPORT H.R. 1207 the Federal Reserve Transparency Act, which is a direct audit of the Feds Board of Governors!!!! Bring these crooks stealing our money to justice!!

%d bloggers like this: