Post has been Killed

Fed doesn't know where more than a trillion dollars went

Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. [YT]
haljettsays...

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."

siftbotsays...

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