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Still convinced we should be paying more taxes, when the Federal Reserve cannot account for $9 TRILLION in off-balance sheet transactions?!

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.

Link below

 
LoriKeet

Asked by LoriKeet at 12:03 PM on Jul. 26, 2009 in Politics & Current Events

Level 45 (194,908 Credits)
This question is closed.
Answers (23)
  • There are bills in the House and the Senate right now calling for an audit of the Federal Reserve.
    Ron Paul is part of this push, and he also fervently wants to abolish the Fed's unholy power over the US economy.

    Contact your Congressmen in BOTH houses to support auditing the Fed. go to Ron Paul's website to learn about helping to abolish the Fed.

    We CAN DO something !!
    waldorfmom

    Answer by waldorfmom at 7:23 PM on Jul. 26, 2009

  • LoriKeet

    Answer by LoriKeet at 12:04 PM on Jul. 26, 2009

  • The federal reserve is a private institution.....

    Hmmmmm I think we need some C H A N G E here....

    Maybe even regulations!
    Anonymous

    Answer by Anonymous at 12:24 PM on Jul. 26, 2009

  • Not only is it a private corporation, it enjoys a monopoly, which is enforced by law. it is nothing more than legalized counterfeiting operation, and is the number one source of grief for many of the people of the world for almost 100 years.
    Anonymous

    Answer by Anonymous at 12:29 PM on Jul. 26, 2009

  • another reason for me to get peed off
    chickaboom73

    Answer by chickaboom73 at 12:44 PM on Jul. 26, 2009

  • The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years.
    Ben S. Bernanke was sworn in on February 1, 2006, as Chairman and a member of the Board of Governors of the Federal Reserve System.
    Donald L. Kohn originally took office on August 5, 2002, as a member of the Board of Governors of the Federal Reserve System for a full term ending January 31, 2016
    Kevin M. Warsh took office on February 24, 2006, to fill an unexpired term ending January 31, 2018.
    Elizabeth A. Duke took office on August 5, 2008, to fill an unexpired term ending January 31, 2012.

    Daniel K. Tarullo took office on January 28, 2009, to fill an unexpired term ending January 31, 2022.
    http://www.federalreserve.gov/aboutthefed/default.htm
    Anonymous

    Answer by Anonymous at 1:12 PM on Jul. 26, 2009

  • Dennis kucinitch it big on finding out what the Fed is doing and he will be question them next week. He thinks the money given to the banks is not being given out on purpose. I'm glad there a a few in congress who want to know just what is going on there. They won't open their books and have virtually no oversite. It's about time.
    itsmesteph11

    Answer by itsmesteph11 at 1:13 PM on Jul. 26, 2009

  • Niiiice... No one is minding the taxpayers 'store' way to GO Feds!! Way TO GO! ::::::ICK::::::!!!!

    grlygrlz2

    Answer by grlygrlz2 at 1:14 PM on Jul. 26, 2009

  • Ex Bush economist blame the federal reserve for crash
    http://www.cbsnews.com/blogs/2009/02/27/business/econwatch/entry4833695.shtml
    Anonymous

    Answer by Anonymous at 1:28 PM on Jul. 26, 2009

  • Dear Congress Lay off the Federal Reserve
    http://www.businessinsider.com/dear-congress-lay-off-the-federal-reserve-2009-7
    Anonymous

    Answer by Anonymous at 1:31 PM on Jul. 26, 2009

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