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Congressman Alan Grayson
This was one of our 10 Best Interviews from 2009:
In May, a cool and collected Congressman Alan Grayson questioned the Federal Reserve Inspector General about the trillions of dollars lent and spent by the Federal Reserve. Inspector General Elizabeth Coleman said she had no idea where the money went. Two months later, Congressman Grayson asked Federal Reserve Chairman Ben Bernanke the same questions. Here is the exact exchange:
Grayson: “So who got the money?”
Bernanke: “Financial institutions in Europe and other countries.”
Grayson: “Which ones?”
Bernanke: “I don’t know.”
Grayson: “Half a trillion dollars and you don’t know who got the money?”
As you can see, like Congressman Ron Paul, Congressman Grayson is one of the rare voices asking the most important questions on behalf of the US Taxpayers. Most importantly, Congressman Grayson understands the Fed’s secretive transfer of wealth from taxpayers to private interests as “The story of the millennium.”
If this sounds like the stuff of conspiracies, simply look at any chart of the US dollar and you can see it has lost over 95% of it’s value since the Federal Reserve was created in 1913.
I caught up with Congressman Grayson to better understand the problem with our Federal Reserve, the rising momentum for the Federal Reserve Transparency Act of 2009 (H.R. 1207), and how we can make the Fed more accountable to their four government delegated duties …
Damien Hoffman: Congressman Grayson, I recently penned an article called “Has the Federal Reserve Failed?” in which I looked at their four government delegated duties and concluded they simply have not done their job. What is your proposal to make the Federal Reserve more transparent and accountable?
Congressman Grayson: H.R. 1207 is one of the simplest bills imaginable. Unlike the healthcare bill which is over 1000 pages, H.R. 1207 is a page and a half. The bill lists the existing exclusion of the Federal Reserve from oversight by the Government Accountability Office (GAO) and allows the GAO — an independent body — to audit the Federal Reserve Bank.
The Federal Reserve Bank has not had an independent audit since it was created almost 100 years ago, and it needs an audit. Many times we have exposed gross acts of irresponsibility on the part of the Federal Reserve. So, we need to dig in and get details.
Just a few weeks ago, while Chairman Bernanke was testifying to Congress, we examined the Fed balance sheet and P&L statement only to find what looked like the Fed handing over half a trillion dollars to foreigners. This was very surprising! When I asked Chairman Bernanke if this was true, he said, “Yes.” When I asked him who got the money, he said, “Fourteen foreign Central Banks.” And when I asked to who did they give the money, he said, “I don’t know.” “I don’t know” is not good enough when you’re talking about $500 billion. That’s $1700 for every man, woman, and child in this country.
Damien: What is the status of the bill?
Congressman Grayson: I am very sure the bill will pass — possibly by the end of September, but more likely by the end of October.
Damien: Congressman, what do you say to the primary criticism that auditing the Fed’s book is like exposing confidential information which can lead to harm?
Congressman Grayson: The Fed made that exact same argument in court and recently lost across the board in the case of Bloomberg LP v. Board of Governors of the Federal Reserve System [U.S. District Court, Southern District of New York (Manhattan), No. 08-9595.]. The judge looked at the facts and noted that shining a spotlight on what the Federal Reserve’s actions will only be a good thing. So, that argument has been demolished based on the evidence.
Damien: Congressman, while we are waiting for a Fed audit, does anyone know what the Fed has been doing given that they have not fulfilled their government delegated duties as listed on the Federal Reserve website?
Congressman Grayson: They are performing a truly remarkable, surreptitious transfer of wealth from public to private hands. They are taking their ability to print money and shore up failed banks. They are simply stuffing money into the pockets of private interests.
In the case of the half a trillion dollars, they stuffed the money into foreign private pockets. In the case of another $230 billion, it has been tracked as a secret bailout to Citicorp in the US. The fact is the Federal Reserve continuously puts all of us on the hook for decisions they make to play favorites with private interests to the tune of trillions of dollars.
Source: Zerohedge.com
Damien: Congressman, what do you say to those who call your allegations a conspiracy theory?
Congressman Grayson: Something I found very intriguing was the Semi-Annual Report from the Federal Reserve to the Congress. That’s a mother-load of secrets if you read it very carefully and ask the right questions.
Since it looks like the Federal Reserve may soon be subject to the Freedom of Information Act, that opens many opportunities for the public to see the facts.
These are not conspiracies. The Federal Reserve’s own website has some incredibly interesting information about the general state of the US economy and the distribution of wealth in our country. I was recently reading our national wealth capped out at $62 trillion two-years ago has crashed to $50 trillion since. Those are Federal Reserve statistics on their website.
Damien: Congressman, I know you have another interview in a moment, so thanks for your time. I would love to follow up with you on this story sometime soon.
Congressman Grayson: Super. This is the story of the millennium. There are very few stories you can ever write about where the numbers involved have 13 digits in them. I look forward to staying in touch.
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I am so thankful we have Congressman Alan Grayson trying to sift through the stench that is Wall St., etc.,.
He is by far the most effective, intelligent, go-getter there is in D.C. I’d love to see him in the senate, and perhaps a run for the oval office someday.
Can’t stand our current senator, Bill Nelson, Fl. He’s a milktoast, phony, DINO. Mel, well, nuff said about him….he’s gone.
Audit the Fed
Nationalize the Federal Reserve, as its name implies and many people thinke it is now. The Constitution says “Congress shall have power to coin money and regulate the value thereof.” A truly federal central bank could issue money by the people for the people, either directly or as loans. Interest on the loans would return to the government, reducing or eliminating taxes. – Ellen Brown JD
I hope you are spreading this message far and wide!
DH: Great job… ok, I’m spreading the word as you
asked. See below. Hope you make the show.
Garrett
My letter to the Thom Hartmann Program
Thom:
A short stunning interview in the Wall St. Cheat Sheet (of all places)
regarding the Fed and the missing $500 BILLION DOLLARS that vanished
into foreign accounts. Yet once again, it’s the transfer of wealth from
public to private hands.
Thom, this is fantastic!
Should Damien Hoffman be on the program?
Garrett
Sample of exchange between Damien Hoffman and Congressman Grayson (D):
Damien: Congressman, while we are waiting for a Fed audit, does anyone know what the Fed has been doing given that they have not fulfilled their government delegated duties as listed on the Federal Reserve website?
Congressman Grayson: They are performing a truly remarkable, surreptitious transfer of wealth from public to private hands. They are taking their ability to print money and shore up failed banks. They are simply stuffing money into the pockets of private interests.
In the case of the half a trillion dollars, they stuffed the money into foreign private pockets. In the case of another $230 billion, it has been tracked as a secret bailout to CITICORP in the US.
The fact is the Federal Reserve continuously puts all of us on the hook for decisions they make
to play favorites with private interests to the tune of trillions of dollars.
Here’s the 1 page interview:
http://wallstcheatsheet.com/knowledge/interview-knowledge/exclusive-interview-congressman-alan-grayson-talks-fed-transparency-and-missing-money/?p=1878/
Garrett: MANY thanks for the passion to help spread the word! Please email me if you’d like me to talk with Thom or others interested in this topic.
Hope to stay in touch, Damien
These banking cartels have had the citizens of the US set in thier sights since before their creation. In the early 1800s US patriots created the TONA. The Titles of Nobility Ammendment has passed every certification to become law but it is not regoginized here some 200 years on. Know that the war of 1812 was a Rothschild funded war to stop the over throw of the then US central bank. Expect a similar tactic today, fear the police state of the UK and the riseing loss of sovereign rights in the US. We will have revolution if true legislative action is not taken. As the POTUSA takes seat as chair of the UN in conflict with the nobility clause of the Constitution we must ask ourselves. To whom do “they” serve?
We can either fight the fight here in American blood against foreign usurpers or ammend
“No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince or foreign State.”
to read
“If any citizen of the United States shall accept, claim, receive, or retain any title of nobility or honour, or accept and retain any present, pension, office, or emolument of any kind whatever, from any emperor, king, prince, foreign power, or secret society, such person shall cease to be a citizen of the United States, and shall be incapable of holding any office of trust or profit under them, or either of them.”
revolution solution
Titles of Nobility Amendment
“If any citizen of the United States shall accept, claim, receive, or retain any title of nobility or honour, or accept and retain any present, pension, office, or emolument of any kind whatever, from any emperor, king, prince, foreign power, or secret society, such person shall cease to be a citizen of the United States, and shall be incapable of holding any office of trust or profit under them, or either of them.”
google tona2009 to sign petition to congress
If the people wanted an amendment it would happen.
Ask bush and bernake about the over 500 billion IOUs sent to foreign banks to stop americans bankruptcy in 2007. It did stop the effects until sept 2008 but end of sept. fiscal year is coming again. Obama needs to convict some crooks if he ever wants us to get solvent again..
Watch: The Money Masters – themoneymasters.com – You’ll understand how the Fed came to be, why it will destroy itself, and what will take it’s place. The international money power has this game rigged from start to finish.
Thank you Congressman Paul & Grayson.
WHERE are the 50 States? Why are they allowing this massive fraud and theft to continue? They have full and lawful authority to correct this abusive injustice.
The US Constitution
Section 10. No state shall …coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.
Please end this wholesale destruction of the America’s economy by rapid devaluation of these ex post facto fiat bank notes. Hold the Federal Government accountable to comply with and honor the original contract! Enforce the gold and silver tender in payment of debts, now! Give the currency intrinsic value not paper value. The suffering and crime will be unimaginable and can be prevented. Know this my countrymen, silver and gold was the standard medium of exchange for 3000 years – “fiat”, paper “bills of credit” bank notes last maybe 50 years, Zimbabwe or sound money! Looks like the Federal Government and its international banking friends have already made up their minds….
Ignorantia juris non excusat
“ignorance of the law excuses no one”
Ignorantia juris non excusat … exactly!
if you believe in being a slave, that is using fiat
money created from thin air and paying taxes, which
pay the interest to the overlords on the creation of
the fiat currency, why would you need to know the
overlords secrets? or need the overlord to be
transparent about his enslavement of the masses which they voluntarily agree to.
The founders of the constitution mentioned in the 5000 years of mans history ever papaer currency has failed, it fails because the creators of the money cannot
resist temptation to print more and more. The founders therefore instituted Artical 1 section 8 in the constitution to prevent such such mischieve.
If you agree to slavery, and you keep paying your
income taxes you deserve what they are doing to you.
Be a patriot, cut the tyrants off at the hip pocket.
I have over 20 years ago. they only punish those still filing.if you believe in being a slave, that is using fiat
money created from thin air and paying taxes, which
pay the interest to the overlords on the creation of
the fiat currency, why would you need to know the
overlords secrets? or need the overlord to be
transparent about his enslavement of the masses which they voluntarily agree to.
The founders of the constitution mentioned in the 5000 years of mans history ever papaer currency has failed, it fails because the creators of the money cannot
resist temptation to print more and more. The founders therefore instituted Artical 1 section 8 in the constitution to prevent such such mischieve.
If you agree to slavery, and you keep paying your
income taxes you deserve what they are doing to you.
Be a patriot, cut the tyrants off at the hip pocket.
I have over 20 years ago. they only punish those still filing.if you believe in being a slave, that is using fiat
money created from thin air and paying taxes, which
pay the interest to the overlords on the creation of
the fiat currency, why would you need to know the
overlords secrets? or need the overlord to be
transparent about his enslavement of the masses which they voluntarily agree to.
The founders of the constitution mentioned in the 5000 years of mans history ever papaer currency has failed, it fails because the creators of the money cannot
resist temptation to print more and more. The founders therefore instituted Artical 1 section 8 in the constitution to prevent such such mischieve.
If you agree to slavery, and you keep paying your
income taxes you deserve what they are doing to you.
Be a patriot, cut the tyrants off at the hip pocket.
I have over 20 years ago. they only punish those still filing.
Great interview, Damien. The wonderful thing about this movement for transparency and accountability from the Federal Reserve is that it defies left vs. right and Dem vs. GOP partisan games. Folks like Rep. Grayson, Rep. Ron Paul, Sen. Bernie Sanders and Sen. Jim Demint are all fighting the good fight on this issue. Their efforts will shame other politicians from their respective ends of the political spectrum to step up and do the right thing.
I agree, David. It should be a completely non-partisan issue. Thanks for your thoughtful comment and compliment. I hope you comment often!