9 TRILLION Dollars Missing from Federal Reserve,Fed Inspector General Can't Explain

[Gabe]

Wow! Let's get our pitchforks and stop this behavior! unbelievable...

[ame=http://www.youtube.com/watch?v=GYNVNhB-m0o]YouTube - 9 TRILLION Dollars Missing from Federal Reserve,Fed Inspector General Can't Explain[/ame]

[ktsmama]

Very interesting! The guy (not sure who he is) asking the questions is awesome.

[Ramona]

This makes me sick. The gentleman questioning the Inspector General is fantastic and I'm glad he's on our side.

As far as the Inspector General, I've never seen anyone tap dance while sitting down

[Dutchie]

Amazing!!! The guy is like a terrier.

Words fail me.

9 trillion dollars!!!!!!!!

[Greebo]

Wow - she was really bad at saying nothing while seeming to say something.

[Brat]

Glad they aren't' doing my check book..They just keep takeing it out...

[bustedparts]

so who is going to answer the gentleman's questions? nobody is trying to hear that fluff she is talking about. kudos to the man calling her out on her B.S.

[pollypurebred39]

Really?

[Keildra]

Seriously
That guy is my hero

[scottp999]

so who is going to answer the gentleman's questions? nobody is trying to hear that fluff she is talking about. kudos to the man calling her out on her B.S.

Actually, he is full of BS or is willfully ignorant of law and monetary history. The Congress authorized the take over of the monetary system by the creation of the Federal Reserve System. The Board of Governors is Federal Government, but the Federal Reserve Banks are private, closely held, corporations. Congress gave their power in the constitution to regulate the value of money to a private banking cartel. Congress has the ability to pull that authority, end the Federal Reserve system at any time they want to do it. They will not do it, because they are in partnership with that system that allows them to get Federal Reserve Notes for Treasuries for Federal spending that is not funded by tax revenue. It allows them to tax us all through inflation of the money supply. It is fractional reserve banking with a fiat currency, a private currency. The US Treasury's only role in Federal Reserve Notes is a print shop. They sell the notes for around 10 cents each (whether it's a $1 or $100 note) to the Federal Reserve System.

What you are watching is either a Congress so misinformed on the monetary history of our Country, or a willful mis-direction for theater. The lady does not have the authority to go to the private corporations and audit them without their consent or Congress changing the law.

A little light reading:

Question :“People have often questioned about the Federal Reserve being a private bank or a private corporation. Is that in fact true?
– Gary Franchi, Republic Magazine

Answer: “It is…each one of the 12 banks is a separate closely-held private corporation. We’re literally owned by the banks in our district.
– Jerry Nelson, Public Relations, Federal Reserve Bank of Chicago, May 14, 2008.
Meet the Federal Reserve

"We can create money by fiat (decree). Our checkbook doesn't have a ledger. So you write out the check, it's (money/currency) just transmogrified out of thin air, which is a nice checkbook to have."
- Jerry Nelson, Federal Reserve Bank of Chicago, Public Relations. May 14, 2008.
Meet the Federal Reserve

"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill."
-Rep Charles A. Lindbergh, Sr. - 1913

“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson…The country is going through a repetition of Jackson's fight with the Bank of the United States--only on a far bigger and broader basis. “
-Letter to Col. Edward Mandell House (21 November 1933); as quoted in F.D.R.: His Personal Letters, 1928-1945, edited by Elliott Roosevelt (New York: Duell, Sloan and Pearce, 1950), pg. 373.

“If Congress has the right under the Constitution to issue paper money it was given them to be used by themselves, not to be delegated to individuals or to corporations.”
-Andrew Jackson

"Where would we be if we had I.O.U.'s scrip and certificates floating all around the country?" Instead he decided to "issue currency against the sound assets of the banks. [As opposed to issuing currency against gold.] The Federal Reserve Act lets us print all we'll need. And it won't frighten the people. It won't look like stage money. It'll be money that looks like real money."
-Treasury Secretary Woodin, 3/7/1933 (Source: 'Closed for the Holiday: The Bank Holiday of 1933', p20 - Federal Reserve Bank of Boston) http://www.newyorkfed.org/publicatio...2Fclosed%2Epdf

“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. These twelve private credit monopolies (Federal Reserve Banks) were deceitfully and disloyally foisted upon this country by the bankers who came here from Europe and repaid us for our hospitality by undermining our American institutions...The people have a valid claim against the Federal Reserve Board and the Federal Reserve banks.”
- Louis T McFadden (R-PA, Chairman of the United States House Committee on Banking and Currency 1920-31)

“Some people think the Federal Reserve banks are United States government institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”
- Louis T McFadden (R-PA, Chairman of the United States House Committee on Banking and Currency 1920-31)
Louis T. McFadden's U.S. House Speech,10 June 1932

“In purchasing offerings of Government bonds; the banking system as a whole creates new money, or bank deposits. When the banks buy a billion dollars of Government bonds as they are offered--and you have to consider the banking system as a whole, as a unit-'the banks credit the deposit account of the Treasury with a billion dollars. 'They debit their Government bond account a billion dollars, or they actually create, by a bookkeeping entry, a billion dollars.”
-Marriner S. Eccles, Chairman of the Board of Governors of the Federal Reserve System before the Banking and Currency Committee of the House of Representatives
US Senate Doc. 23, 76th Congress, 1st Session – January 24, 1939:
http://www.archive.org/download/Nati...kingSystem.pdf

The 1982 Ninth Circuit court case of LEWIS v. UNITED STATES, 680 F.2d 1239 ruled that the Federal Reserve Bank is privately owned:

“Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Federal Reserve Banks are not federal instrumentalities for purpose of the FTCA, but are independent, privately owned and locally controlled corporations. Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region.”

"When you or I write a check there must be sufficient funds in out account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money."
- Putting it simply, Boston Federal Reserve Bank

"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just a piece of paper. Deposits are merely book entries."
- Modern Money Mechanics Workbook, Federal Reserve Bank of Chicago, 1975
http://www.archive.org/download/Mode...hanics/MMM.pdf

"The Federal Reserve system pays the U.S. Treasury $20.60 per thousand notes --a little over 2 cents each-- without regard to the face value of the note. Federal Reserve Notes, incidentally, are the only type of currency now produced for circulation. They are printed exclusively by the Treasury's Bureau of Engraving and Printing, and the $20.60 per thousand price reflects the Bureau's full cost of production. Federal Reserve Notes are printed in 01, 02, 05, 10, 20, 50, and 100 dollar denominations only; notes of 500, 1000, 5000, and 10,000 denominations were last printed in 1945."
-Donald J. Winn, Assistant to the Board of Governors of the Federal Reserve System

[HappyMama]

Actually, he is full of BS or is willfully ignorant of law and monetary history. The Congress authorized the take over of the monetary system by the creation of the Federal Reserve System. The Board of Governors is Federal Government, but the Federal Reserve Banks are private, closely held, corporations. Congress gave their power in the constitution to regulate the value of money to a private banking cartel. Congress has the ability to pull that authority, end the Federal Reserve system at any time they want to do it. They will not do it, because they are in partnership with that system that allows them to get Federal Reserve Notes for Treasuries for Federal spending that is not funded by tax revenue. It allows them to tax us all through inflation of the money supply. It is fractional reserve banking with a fiat currency, a private currency. The US Treasury's only role in Federal Reserve Notes is a print shop. They sell the notes for around 10 cents each (whether it's a $1 or $100 note) to the Federal Reserve System.

What you are watching is either a Congress so misinformed on the monetary history of our Country, or a willful mis-direction for theater. The lady does not have the authority to go to the private corporations and audit them without their consent or Congress changing the law.

A little light reading:

Question :“People have often questioned about the Federal Reserve being a private bank or a private corporation. Is that in fact true?
– Gary Franchi, Republic Magazine

Answer: “It is…each one of the 12 banks is a separate closely-held private corporation. We’re literally owned by the banks in our district.
– Jerry Nelson, Public Relations, Federal Reserve Bank of Chicago, May 14, 2008.
Meet the Federal Reserve

"We can create money by fiat (decree). Our checkbook doesn't have a ledger. So you write out the check, it's (money/currency) just transmogrified out of thin air, which is a nice checkbook to have."
- Jerry Nelson, Federal Reserve Bank of Chicago, Public Relations. May 14, 2008.
Meet the Federal Reserve

"This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized....the worst legislative crime of the ages is perpetrated by this banking and currency bill."
-Rep Charles A. Lindbergh, Sr. - 1913

“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson…The country is going through a repetition of Jackson's fight with the Bank of the United States--only on a far bigger and broader basis. “
-Letter to Col. Edward Mandell House (21 November 1933); as quoted in F.D.R.: His Personal Letters, 1928-1945, edited by Elliott Roosevelt (New York: Duell, Sloan and Pearce, 1950), pg. 373.

“If Congress has the right under the Constitution to issue paper money it was given them to be used by themselves, not to be delegated to individuals or to corporations.”
-Andrew Jackson

"Where would we be if we had I.O.U.'s scrip and certificates floating all around the country?" Instead he decided to "issue currency against the sound assets of the banks. [As opposed to issuing currency against gold.] The Federal Reserve Act lets us print all we'll need. And it won't frighten the people. It won't look like stage money. It'll be money that looks like real money."
-Treasury Secretary Woodin, 3/7/1933 (Source: 'Closed for the Holiday: The Bank Holiday of 1933', p20 - Federal Reserve Bank of Boston) http://www.newyorkfed.org/publicatio...2Fclosed%2Epdf

“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. These twelve private credit monopolies (Federal Reserve Banks) were deceitfully and disloyally foisted upon this country by the bankers who came here from Europe and repaid us for our hospitality by undermining our American institutions...The people have a valid claim against the Federal Reserve Board and the Federal Reserve banks.”
- Louis T McFadden (R-PA, Chairman of the United States House Committee on Banking and Currency 1920-31)

“Some people think the Federal Reserve banks are United States government institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”
- Louis T McFadden (R-PA, Chairman of the United States House Committee on Banking and Currency 1920-31)
Louis T. McFadden's U.S. House Speech,10 June 1932

“In purchasing offerings of Government bonds; the banking system as a whole creates new money, or bank deposits. When the banks buy a billion dollars of Government bonds as they are offered--and you have to consider the banking system as a whole, as a unit-'the banks credit the deposit account of the Treasury with a billion dollars. 'They debit their Government bond account a billion dollars, or they actually create, by a bookkeeping entry, a billion dollars.”
-Marriner S. Eccles, Chairman of the Board of Governors of the Federal Reserve System before the Banking and Currency Committee of the House of Representatives
US Senate Doc. 23, 76th Congress, 1st Session – January 24, 1939:
http://www.archive.org/download/Nati...kingSystem.pdf

The 1982 Ninth Circuit court case of LEWIS v. UNITED STATES, 680 F.2d 1239 ruled that the Federal Reserve Bank is privately owned:

“Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Federal Reserve Banks are not federal instrumentalities for purpose of the FTCA, but are independent, privately owned and locally controlled corporations. Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region.”

"When you or I write a check there must be sufficient funds in out account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money."
- Putting it simply, Boston Federal Reserve Bank

"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just a piece of paper. Deposits are merely book entries."
- Modern Money Mechanics Workbook, Federal Reserve Bank of Chicago, 1975
http://www.archive.org/download/Mode...hanics/MMM.pdf

"The Federal Reserve system pays the U.S. Treasury $20.60 per thousand notes --a little over 2 cents each-- without regard to the face value of the note. Federal Reserve Notes, incidentally, are the only type of currency now produced for circulation. They are printed exclusively by the Treasury's Bureau of Engraving and Printing, and the $20.60 per thousand price reflects the Bureau's full cost of production. Federal Reserve Notes are printed in 01, 02, 05, 10, 20, 50, and 100 dollar denominations only; notes of 500, 1000, 5000, and 10,000 denominations were last printed in 1945."
-Donald J. Winn, Assistant to the Board of Governors of the Federal Reserve System

Thank you, great informative post.

[ravenmaniac]

Wow, it is amazing how the comments came to a halt on this thread. I appreciate the information, it confirmed the little bit I knew, that the Federal Reserve are private banks.

It is a shame that those that represent us are not more informed.