“Federal Reserve doesn’t know where $1.5 trillion went” - analyst
Published: 06 August, 2009, 22:26
Edited: 03 October, 2010, 19:29
TAGS: Crisis, Law, Budget, Mass media, USA, Big deal
The US media’s attempts to use the Freedom of Information Act to find out which banks received financial bailouts were blocked, said legal analyst Nicole Kardell, and the Federal Reserve doesn’t know the answer itself.
At a time of financial crisis in the United States – after a nearly $800 billion stimulus package was passed this year and after nearly $700 billion in bailout money was passed in 2008 by the Bush administration – Americans are wondering where all the money has gone.
Lawmakers are trying to pass a bill which would ask for an audit of the Federal Reserve. But there are some media outlets that are taking a different route. They are filing lawsuits under the Freedom of Information Act through which they try to find out which banks received bailouts and how much money they got. Just recently one such lawsuit was rejected. The problem might be that the Federal Reserve itself doesn’t know where half a trillion dollars went, says Kardell.
06.08.2009, 19:53
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If I recall; since I correspond with RT, I often mention the tremendous Worldwide armaments expenditures. Taking into account inflation, we can estimate than from 1949 until 2009, Humanity, under US blackmail and wittingly conceived climat of fear and insecurity, has wasted around 60 trillions $ for its self-destruction. This waste was and still is hard earned money from income taxes paid by all humans. Americans, being the initiators and first makers of all Weapons of Mass Destruction actually in service, pay the greatest share of that expenditure (between 60 to 70%). It made tremendous fortunes and created an elite who does not want this to stop; simple example the useless anti-missiles defense. The ash cloud from Island shows you what will happen, in a thousand times more dangerous ways, if the equivalent of a US trident missile with an instantaneous reaction's chain device was intercepted. In reality, it is not 1,5 trillions $ unaccounted for but 40 times more that sum. That is why I insist for radical changes to be made and sadly laugh about statements concerning Obama. Sincerely...Jean-Claude Meslin
The USA went bankrupt in the early 1920's. It was bailed out by the fed. res. bank. Since then either this money was paid back or the USA has been at the fed's beck and call since. The is then going broke too today as USA's debt is the feds debt too.The fed. will fall to the bank for international settlements (BIS). The BIS is controlled by the Catholic and German elites in Europe. The rest is left up to your imagination.