Banksters Part 6 By Tanya Dennis
One day before 9/11, on September 10, 2001, Defense Secretary Donald Rumsfeld admitted that “According to some estimates we cannot track $2.3 trillion in transactions,” That’s $8,000 for every man, woman and child in America.
On January 30, 2005, the United States flew eight billion dollars in cash into Iraq to help stabilize the Iraqi currency. The money promptly disappeared from the basement of the U.S. administrations Coalition Provisional Authority’s basement, and no one in our government knows where it went. There wasn’t much outcry because at the time President Bush was spending 50 billion a year on the war in Iraq.
Next our government pledged seven trillion in bailout money to the big banks. That’s more money than all of America’s major big budget government expenditures combined. Adjusting for the cost of inflation the Marshall Plan cost $115.3 billion; the Louisiana Purchase, $217 billion; Race to the Moon, $237 billion; Saving and Loan Crisis, $256 Billion; Korean War, $454 Billion; The New Deal, $500 billion (estimate); Invasion of Iraq, $597 billion; Vietnam War, $698 billion; NASA, $851.2 billion. A combined total of $3.92 Trillion.
And now history has repeated itself but with astronomical proportions. Nine trillion dollars is currently “missing” from the Federal Reserve. To put things in perspective, if you started at the time of Christ, and spent one million dollars a day for two thousand years you still would not have spent one trillion dollars.
Nine trillion dollars is enough money to totally pay off 90% of America’s mortgages. So how did all this money disappear under the nose of the Office of Inspector General (OIG), established by Congress as an independent oversight authority within the Board of Governors of the Federal Reserve System (Board)?
Then Inspector General Elizabeth Coleman was asked to appear before the House of Representatives and give an accounting of what happened to 9 trillion in off-balance sheet transactions. The Inspector General is supposed to be responsible for preventing and detecting waste, fraud, and abuse, however Ms Coleman acknowledged that she can’t account for nine trillion of the taxpayer’s money.
Representative Alan Grayson (D-Florida) stated during the hearing that “I am shocked to find out that nobody at the Federal Reserve is keeping track of anything.”
The Federal Reserve also cannot account for the losses on its $2 trillion portfolio. When Grayson asked Coleman, “What about the $1 trillion plus expansion of the Federal Reserve’s balance sheet since last September?” Coleman replied, “We have different connotations. We’re actually conducting a fairly high-level review of the various lending facilities collectively.”
In other words Coleman didn’t have a clue. Counting one second at a time, it would take 31,710 years to reach 1 trillion. In total, it is estimated that 15 trillion is missing and unaccounted for from the Federal Reserve. With all this missing money, it’s no wonder America is broke. As for the nine trillion, if citizens remember that the Federal Reserve in 2008 bought 2 trillion dollars worth of toxic mortgages from the banks via their “Toxic Asset Loan Fund” (TALF), I think they’d find a clue.