Menu

RealEconTV

Business news without the bullshit

We still don't have answers to these questions

From Spring 2010

Subscribe to RealEconTV

Your e-mail address is kept absolutely private
We make it easy to unsubscribe at any time

$9 trillion in off balance sheet transactions

We now know a little about some of the money the Federal Reserve loaned out to "avert the crisis."

But note, we only know "a little" and we only know about "some" of it.

Here's a shocker...

Bloomberg news reported that the Federal Reserve carried out an estimated $9 TRILLION in "off balance sheet" transactions in just eight months - and we still don't have a clue what those were about, what they bought or loaned and who benefitted.

Note: The banking lobby succeeded in getting Representative Grayson, one of just a tiny handful of Congressman who asked these kind of pointed questions, voted out of office recently.

The $9 trillion?

Americans will pay it back in a combination of higher taxes and lower standard of living, low possibly to the point of diminishing us to the status of a Banana Republic, if we are not in fact already there.

For more Central banks videos, click here

See the complete catalog of
real econ tv videos

Legal disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.