Federal Reserve chairman Ben Bernanke was confronted yesterday by Congressman Alan Grayson about which foreign banks were the recipients of Federal Reserve credit swaps, but he was unable to provide an answer as to where over half a trillion dollars had gone.
Asked which European financial institutions received the money, which was handed out by The Federal Open Market Committee (FOMC), a component of the Federal Reserve System, Bernanke responded, “I don’t know.”
“Half a trillion dollars and you don’t know who got the money?” asked Grayson.
As we have previously reported, the destination of trillions in bailout funds remains hidden after the Fed refused to disclose where it had gone despite a lawsuit filed by Bloomberg.
Bernanke said the Fed had a “long standing legal authority” to hand money to foreign banks under section 14 of the Federal Reserve Act, a claim contradicted by Bernanke’s own report, as Grayson soon highlighted.
Grayson said that he had investigated one of the arrangements, a $9 billion dollar package to New Zealand, which works out at $3000 dollars for every citizen of New Zealand.
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Greatest hiest in world history.
ReplyDeleteGod help us! In other countries
ReplyDeletethis guy would be in front of
a firing squad.
Oh how disgusting, why would I want to ready more.
ReplyDeleteIs he pulling the Mike Dunn "this close" routine?
ReplyDeleteI guess if they don't know where it went, they can't get repaid, huh?
ReplyDeleteThey know where it went, they just dont want any of us to know.
ReplyDeleteHow can one lose a half trillion dollars?
ReplyDelete"Show Me The MONEY"....You Know..."The Fruits Of My Labors" Maybe The Islamic Group Conference need some "BAIL-OUT" money TOO!
ReplyDeleteThis is what criminals say when they have been caught.
ReplyDeleteAll part of Obama's greater plan to save the US - and win hearts and minds around the world. Good thing that pesky McCain didn't win or that money may have stayed in the country.
ReplyDeleteThe point is this: The Federal Reserve Bank is an INTERNATIONAL ORGANIZATION. Wake up America. These people do not care about us. Furthermore, they have an agenda, a plan, a goal. They know where we are heading. They aren't making this up as they go along. Everything has been planned well in advance.
ReplyDeleteI only watched 31 minutes of the video Joe posted the other day (haven't had time to get back to it) but this story is EXACTLY what that video was set out to prove.
ReplyDeleteWe've all been had and will continue to be unless the villains in our government are brought out into the light and made to pay.