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Fed’s Inspector General Elizabeth Coleman Missing Trillions of Taxpayers’ Dollars

June 25, 2009
June 25, 2009

Elizabeth Coleman is the inspector general of the Federal Reserve of the United States, commonly referred to as the Fed. This is the little-understood institution which prints and regulates all U.S. money. As inspector general, the Federal Reserve website states Elizabeth Coleman is “responsible for preventing and detecting waste, fraud, and abuse.” Yet in eye-opening, videotaped Congressional testimony, Fed Inspector General Coleman acknowledged that she can’t account for many trillions – yes trillions – of dollars of taxpayers’ money.

Do you know how much one trillion dollars is? It’s over $3,000 for every man, woman, and child in the U.S. If you only count taxpayers, it’s equivalent to $7,000 for every taxpayer. Yet Coleman acknowledges the Fed is not missing just $1 trillion, but many trillions of taxpayers’ dollars. In the video clip she says she knows nothing about nine trillion dollars ($9,000,000,000,000) that is claimed to be unaccounted for. That’s $63,000 for each taxpayer. It’s also three times the amount of the entire annual federal budget of the United States missing in action! These numbers are simply staggering, yet they are getting amazingly little media coverage.

The story continues …..

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