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Fed Inspector General Can't Account for $9T in Off Balance Sheet Transactions

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NiteShift

New Member
Elected officials are always talking about cutting waste.

It usually means they are about to give themselves a raise.


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September 30, 2009
"Just when everybody is distracted by the health care reform debate, Congress is quietly preparing to spend billions for 'home improvements' for its offices, buildings, staff salaries and facilities, and publications, via the $4.7 billion annual legislative branch operational budget appropriation. That represents a 5.8 percent increase over last year. The bill was approved by the House last week, is expected to pass the Senate today,and will be quickly signed when it lands on President Obama's desk."
 
A

alatide

New Member
targus said:
So what is Obama doing about this?

Is he improving the accounting systems?

Or exploiting them?
Click to expand...

I don't know. I'm not bringing this up as a Dem. vs. Republican thing but rather as a matter of concern about what's really going on. One thing to understand is the relationship of the Fed to the government. I's not really a formal part of the government.
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http://www.federalreserve.gov/pf/pdf/pf_1.pdf
From the Fed web site:

The Federal Reserve System is considered to be an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive branch of government. The System is, however, subject to oversight by the U.S. Congress. The Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government; therefore, the description of the System as “independent within the government” is more accurate.
 
T

Twizzler

Member
I watched this back in May when it was first posted and I was thoroughly disgusted with the issue then. I've done a lot of research on the Fed and it's all a huge mess with only a handful of people that really understand what is going on with the econimics that they are practicing. For me it all comes down to the fact that we've allowed the Fed to be a clearinghouse for almost ALL of the world's fiat currency and they can print and lend as much as they like to almost anyone they like. It's all a house of cards that just keeps getting higher and higher and will one day come crashing down on the entire world.

In short... the players behind the Fed love debt... they love the fact that we all have debt and are working hard to enslave us to that debt.

It's VERY scary stuff and BOTH sides of the aisle are guilty of partaking of this 'forbidden fruit' as to do otherwise would surely doom them. It's a question of doom us NOW or doom us down the road... they all vote, without exception, to doom us down the road.
 
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