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Who Got Our $1,000,000,000,000?

The editorial from Grayson is a flashback to earlier this year, but the videos at the bottom of the story are timeless.


By Alan Grayson

Last year, I asked the Vice Chairman of the Federal Reserve Board who received $1 trillion in funds that the Fed handed out to domestic banks and financial institutions.He said, essentially, "I'm not going to tell you." More recently, I asked the Chairman of the Fed who received the half trillion dollars - that's $500,000,000,000 - that the Fed handed over to foreign central banks. He said he didn't know. Half a trillion dollars, and he doesn't know!

Editor's note - Both of these videos are below...

That kind of ignorance and arrogance must end.  We need to audit the Fed.  And now we're closer than ever.  The House passed our bill to conduct the first independent audit of the Fed in its 96-year history.

A bipartisan group of Senators is pushing for an amendment to audit the Fed. This amendment is similar to the legislation that we passed in the House last year. It's called the Federal Reserve Accountability Amendment. It will ensure that the American people know to whom the Fed is lending our money.

The amendment is simple. If it passes, the Fed finally will be audited. Regarding all those billions that the Fed hands out like party favors, we will find out who, what, when, where and how. (We already know "why" - the answer to that question is "Wall Street Greed.") But if this amendment fails, the Fed can continue to make hand out our money to whomever it wants, without telling Congress or the American People.

We think we can pass the Senate Amendment, with your help. The amendment is already cosponsored by progressive heroes like Bernie Sanders, Pat Leahy and Russ Feingold. And joining us in this strange-bedfellows coalition are John McCain, Jim DeMint, David Vitter and Sam Brownback. (We hesitate to use the terms "bedfellows" and "David Vitter" in the same sentence, but that would be changing the subject.)

With such bipartisan support, you'd think that passing this legislation would be a slam dunk. Wrong. Wall Street bankers and their lobbyists are twisting arms and pouring millions into the campaign coffers of politicians on both sides of the political divide, to keep their sweetheart Fed loans under wraps. It's time to counter their influence-peddling by making the Senate listen to the united voice of the American People. (That would be you.)

A vote on the amendment is imminent. Time is of the essence.


Now check out these exchanges...

Video:  Grayson questions Fed Vice Chair Donald Kohn

The Fed's balance sheet has expanded by $1.2 trillion since September 1.  Where did the money go?  Kohn wouldn't say.


More detail on this clip is here...


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Reader Comments (25)

Well, isn't that the $64,000 question times 15,625,000.
May 3, 2010 at 4:16 PM | Unregistered CommenterZarathustra
May 3, 2010 at 4:25 PM | Unregistered CommenterJames H
Looks like Fed-killer Rand Paul is going to make minced meat of Trey Grayson (I tried to think of a moniker despicable enough for Grayson, but failed). Professional Christian James Dobson had earlier endorsed Grayson, a former Democrat, over the staunchly right-to-life Paul. But now Dobson says GOP leaders lied to him about Paul's pro-life views. More to the point, Paul has gotten lots of mileage already out of calling Grayson out for his lies about Paul's positions.

I'm so cynical right now, I can't believe this even happened. But this is incredible news.

May 3, 2010 at 4:39 PM | Unregistered CommenterJames H

May 3, 2010 at 5:34 PM | Unregistered CommenterZarathustra
Well whats the odds it will happen .And then Put all of them in poverty .
May 3, 2010 at 5:41 PM | Unregistered CommenterJTS
These cocksuckin motherfucking pricks...I hate these fuckin cocksuckers. I wish someone would put a bullet in their heads. I can't stand these lying living large fucking scumbag pole smokin ass clown motherfuckers. God, please put them all on an airplane and kill these motherfuckers. GOD DAMN these prick bastards.
Dec 2, 2010 at 7:32 PM | Unregistered CommenterVinny
i understand how you feel vinny...i cover it all day every day and so i've become immune...or insane...definitely one or the other...;-)
Dec 2, 2010 at 7:53 PM | Registered CommenterDailyBail
If the FED gives U.S. dollars to the EU Central Banks and the dollar then appreciates against the EURO by 20%, How do we get back our money and the 20% appreciation that we're entitled to?

Explain how it's not costing us anything. Does that mean we are for-going the 20 % appreciation? If they pay us back in EURO's at a set price then we are in effect losing 20% from where we would have been if we did not do the trade.

Does the FED decide to give up our 20% appreciated U.S. Dollars? WHY?

Please Explain.
Dec 2, 2010 at 9:22 PM | Unregistered CommenterJoe Perates
Bernanke, Kohn, Blankfein, Madoff, Summers, Rubin....anyone else noting a co-incidence that you aren't allowed to notice here?
Dec 2, 2010 at 9:56 PM | Unregistered CommenterPaul
Is my logic messed up or did the banks screw us out of a few billion more than the 1.25 trillion bucks the FED still holds in MBS. From the recent MBS data, If I total the trade amount (Current face value at time of purchase) of all where the transaction category = purchase. Iit comes to a hair over 1.85 trillion dollars in MBS purchases. The banks cherry picked those purchases buying 600 billion dollars worth of MBS (Total Trade Amount where Category = Sale) paying the price of 148 billion (Total Price column).
Now 1.85 trillion purchased-600 billion sold leaves 1.25 trillion bucks worth of crap the FED still holds, but don't forget, if that 600 billion they sold back to the banks was worth its face value and they sold it for less, then that is another 450 billion gone. I have to believe if the banks were willing to buy the securities then they had value. Please tell me I am figuring this wrong
Dec 2, 2010 at 11:51 PM | Unregistered Commentergol4
Bernanke, Kohn, Blankfein, Madoff, Summers, Rubin....anyone else noting a co-incidence that you aren't allowed to notice here?


you may draw any conclusions you like...but i will offer you names of wall street thieves who are not jewish...starting with the biggest thief of them all...hank paulson...

henry paulson, vikram pandit, john thain, ken lewis, angelo mozillo, richard fuld, erin callan, joseph cassano of AIG, tim geithner, chuck prince, stan o'neil,...so that's 11 off the top of my head...
Dec 3, 2010 at 12:02 AM | Registered CommenterDailyBail
@gol...the fed bought tons of paper in QE1...between $1. 75 trillion and $2 trillion...i've seen different numbers...as far as i know the FED still owns most if not all of that paper...and now on top of that, they have announced $600 billion more of treasury purchases for qe2...

correct me, but i think you're asking whether the FED has taken a loss by selling $600 billion of the previously purchased mbs paper BACK to the banks...?...
Dec 3, 2010 at 12:07 AM | Registered CommenterDailyBail
@joe perates...

i will look into it...payback of federal reserve foreign currency swaps are not my area of expertise...
Dec 3, 2010 at 12:09 AM | Registered CommenterDailyBail
How come nobody ever asks where the 2.3 trillion went that was stolen by Rabbi Dov Zakheim when he was comptroller of the pentagon? I guess it went unnoticed since bumsfeld announced that theft the morning of sept 11, 2001.
Dec 3, 2010 at 12:31 AM | Unregistered Commenterjack
the fed and its stakeholders will own the hard assets of America. Its that simple. Bait and switch, and guess who's on the hook?
Dec 3, 2010 at 12:35 AM | Unregistered CommenterDOGISMYTH

not sure you have the story straight...


Zakheim Seeks To Corral, Reconcile 'Lost' Spending


he's an accountant who was asked to reconcile 648 different sets of books...

He was then appointed to be Undersecretary of Defense and Comptroller from 2001 to 2004 under the George W. Bush administration, and served in this capacity until April 2004. During his term as Comptroller, he was tasked to help track down the Pentagon's 2.6 trillion dollars ($2,600,000,000,000) worth of unaccounted transactions [2]. He initiated a number of processes that led to the reduction of that sum by two-thirds by the time of his departure. It has now been reduced by more than 90 per cent. [3]

He is currently a Vice President of Booz Allen Hamilton.
Dec 3, 2010 at 12:40 AM | Registered CommenterDailyBail
Of course there are greedy White useful idiots allowed at the Wall Street trough, allowing a certain amount of Gentile involvement is a common tactic in Jewish cartels to mask the core Jewish nature of the operation.

That Daily Bail tries to suggest that Wall Street isn't a rigged Jewish casino -- well, that just show that you're controlled opposition -- or simply another hive-think Jew.

Doesn't matter if you spike this post or not, there are enough of us out here who aren't drinking Kosher Koolaid so that it's sure that the Right Thing will finally be done when the Jews finish collapsing America.
Dec 3, 2010 at 8:07 AM | Unregistered CommenterFred
sixteen years old & watching my country be swallowed by the rich. any words of wisdom for a teenager from a generation that accepts corporatism & even admires it? i live in an age where children strive to work for massive corporations that pollute the planet & pay off government officials to keep their mouths shut & pass bills in their favor. my generation has been conditioned to pass any standardized test, but we haven't been TAUGHT to critically think for ourselves. we have ALL been conditioned into believing that it's okay to "just do our jobs" because our bosses or a government entity told us to do so, even if it's morally wrong & violates the constitution. sometimes i feel like i'm the only person who's noticed this. can ANYONE offer any guidance? can anyone point me in the right direction? this is the time where your children need your guidance the most.
Dec 3, 2010 at 10:03 AM | Unregistered CommenterJerz
@Jerz: I have asked myself this question since I was in grade school and asked my Gifted and Talented (program no longer available, why encourage smart children to excel?) teacher if we weren't just being bred for docility and to accept what we're told. It seemed my generation, like yours, was being "groomed" for the slaughter, and the ignorance of my generation surrounding 9/11 and the Eternal War on Peace For Profit was evident in the foolishness of the retorts I would get from my contemporaries about how it was "dishonorable to the troops" to expose the lies they're dying for. Very Vietnam-style McCarthyist thinking, they had, their simplistic view of good and evil aided by popular culture. But it's wearing off as they realize they will have no future if they keep fighting to perpetuate the same system they grew up revering.
The MSM may do its best to downplay the MASSIVE opposition that's been growing against the anti-human (remember "Human Rights?") policies in the TSA, Fed, the military, the eugenics-inspired medical establishment, etc. But the spin isn't working. The real economy is crumbling, our veterans sleep on the streets, our grandchildren face insurmountable debt, and the old "Trust me, I'm here to help you!" argument is unraveling. Remember that as people are becoming impoverished, the Kool-Aid has been wearing off faster than the corporatists were hoping. They don't have total surveillance, or their RFID cards, or an undisputed Codex Alimentarius, and the free money machine is beginning to break down under scrutiny as people begin to point at the REAL culprit causing instability in the world. And they will NOT be able to implement all of this without our complicity. Remember, they might think they have the power, but it is only the power we grant them. In the end, they rely on the cops to believe they're arresting "the right man," and the military to believe they're fighting a "just war," and the people to believe their leaders are "our guys."
Most people believe they are doing the right thing and will only do ill if they believe it's in the name of good. (evil in the name of good, how very Orwellian) Presented with evidence to the contrary, they will deny the information and attack the messenger, because how DARE you challenge their concept of morality? But when it becomes truly evident that they too will be left to be devoured by the sharks that run our fiat currency, they will be faced with the ultimate choice of becoming the evil they they thought they were fighting, or turning against it. After all, people who would fake an attack on their own citizens to gain yet more power would not hesitate to allow the police to absorb the wrath of the people, and would abandon the military overseas to fend for itself without a moment's hesitation.
And these are their willing (and often unwitting) allies. Imagine the utter contempt these folks have for the ordinary people OPPOSING this madness! Remember this, honest citizens within the police and military, that if you go along with this plan, you WILL be the ones blamed for it. Your masters will not shoulder the responsibility, and they WILL let the homeless and desperate people devour you like wild dogs even as you decimate their numbers in turn. Deaths on both sides merely furthers their goal of depopulation to make the world more accepting of the horrors it bears witness to. And don't think that because you stuck with them that they'll favor you when it comes time to cull the populace. They have no loyalties, no borders, and no shame.
Remember also, Our rapaciousness (and those of our controllers) worldwide is being revealed to the point of being undeniable, and it's causing more than mere "embarrassment." It's causing anger. It's causing their willing accomplices to question why they would aid an enemy that ultimately wishes them dead. And it's causing a whole lot of those on-board to jump ship before the storm, which will only lead to more revelations, and less complicity with the enemy within.
And that is a good thing.
Dec 3, 2010 at 11:34 AM | Unregistered CommenterRidiculousness
@ Jerz,

Very astute of you to recognize that something is wrong at your early age.

To everyone,

Unfortunately this game has been repeated over and over again for thousands of years, nation to nation, they are built up and then destroyed by greed and avarice. People have tried and won freedom many times throughout history, only to immediately start selling themselves into bondage again. I would recommend starting with a little Plato linked below:


Education is the only way to stop repeating the cycles that we keep repeating over and over again. Each generation falsely believes that the problems in society are unique to their generation and have never been seen before. Unfortunately education is not taught anymore, as you said, they do not teach to critically think for yourselves anymore.

The answers you seek are out there, one only has to know where to begin. For some good reading material, check the comments here, I left some good books in the comments.


The cycle can be broken, but the sheep must first awaken.

@ Ridiculousness,

Excellent comment.
Dec 3, 2010 at 12:32 PM | Unregistered CommenterS. Gompers
@ridiculousness...as gomp said...great comment...

@jerz...here's the answer...work to create awareness...it's all any of us can do...educate friends, peers, family...baby steps...but it's working...awarenesss of these issues has grown dramatically in the past few years...you can also start a website or help out websites that already exist...and you sound like you know the issues already...if you want to help me around here you are more than welcome...contact me thru the site contact button at the top of any page...thanks...
Dec 3, 2010 at 1:30 PM | Registered CommenterDailyBail
"sixteen years old & watching my country be swallowed by the rich. any words of wisdom for a teenager from a generation that accepts corporatism & even admires it?"

I think you are pointed in the right direction. The real game changer will be to get most of your generation headed the same way. The only way to stop the criminal corruption that that my generation and the previous ones have allowed to infest the government, the economy, Industry, Health, Law enforcement, and the use of our military forces will take action by informed citizens who are aware that, the most corrupt society on the planet has buried them in debt that they can never repay and robbed them of the heritage many of their forefathers sacrificed their lives for. The elite who are running the show don't give a damn ("if it's morally wrong & violates the constitution."). What they do give a damn about is wealth and power and they want it all! And they are making damn sure you and your children's generations are going to be stuck with the tab.
The whole electoral process needs to be reformed, public campaign financing and get rid of the lobbyist's would be a big gain for the people. Criminal activities in government and business need to be investigated and prosecuted instead of ignored or covered up as they are presently. The Federal Reserve needs audited, exposed and disbanded, it is a tool that only serves the elite special interests and since it inception has never served the American majority. Big Oil, the Wall Street Financial Industry, along with The Insurance, Healthcare and Pharmaceutical Industries are cesspools of corruption and need a Roto Rooter of legitimate regulation to clean them up.

Use every way possible to learn the truth from as many sources as you can access. Gather as much information as you can absorb. Inform your peers and spread it far and wide. Your generation and those that follow are going to have to clean up the mess. Most of my generation has their heads so far up their asses they can't see daylight, or they listen to Main Stream Media and believe the propaganda being spouted on the airwaves and TV. Ether way they're immobilized, ineffective and aren't going to do anything to change the status quo till they're starving in the streets.

It's up to you, GOOD LUCK!
Dec 3, 2010 at 3:56 PM | Unregistered CommenterSagebrush

I agree with Gomp and DB, Great comment
Dec 3, 2010 at 4:01 PM | Unregistered CommenterSagebrush
Why, thank you. That's a nice breath of fresh air from the generalized accusations I usually get.
Particularly on cifwatch, they actually libeled me at one point because I dared to point out that killing people was bad in their "CiFWatch Under Attack!" article. I pointed out that believing other people are not people was dehumanizing and pretending the people you're murdering are inhuman takes away the humanity of the person believing this, and they turned around, posting NOTHING but this comment while erasing all others under the "Jews are not human" propaganda, while deleting all the rest, and lumping me in with people who posted racist cartoons and spewed hate. Idiotic. I kindly informed them that selectively quoting me to create a false impression of my words and using them to smear my reputation constituted libel, (not that I had the means to do anything or the desire, but I wasn't going to just let it be) but they just kept deleting the posts. Guess they're not above selective deletion and distortion to forward their twisted worldview, eh? Who runs that site anyway? Like the Guardian needs its own personal "antisemitism crusaders."
Of course, I didn't really post here back then, as I usually prefer just to read the comments to get a general idea of opinion. The CIFWatch episode showed me, however, that remaining comments are NOT indicative of public opinion when people are "moderator happy," and use their position to color the debate. (CIFWatch actually has a hilarious definition of "antisemitism," one of which includes pointing out that any Jew is "more loyal to the state of Israel than his home nation." John Pollard anyone? So speaking the truth can actually be anti-semitic!)
With the veiled threats on "Net Neutrality," however, I can't afford to keep silent any longer. Do not let enemy's lists stop you from calling things what they are, or spying, or any of that. If they weren't scared, they wouldn't bother to watch what an angry person says on the Internet. They aren't afraid you'll harm them, they're afraid of exposure. They know their information control remains tenuous, and any overt attempts to seize it will be viewed as the naked control plot they are.
Information is power! And I want mine back!
Dec 4, 2010 at 1:53 AM | Unregistered CommenterRidiculousness
I think that money is lost. Lost to the pocket of someone. Everybody wants that money, I know that anybody well tempt on that big money. This is a great post.
Nov 17, 2011 at 10:51 AM | Unregistered CommenterPromotional Products

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