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Home Alternative News News Fed's $500,000,000,000 European Secret

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Alan Grayson, a Florida Democrat who has been very critical in the past of Fed actions takes it to Bernanke today regarding foreign central bank lending.

Federal Reserve chairman Ben Bernanke was confronted by Congressman Alan Grayson about which foreign banks were the recipients of Federal Reserve credit swaps, but he was unable to provide an answer as to where over half a trillion dollars had gone.

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Alan Grayson: "Which financial institutions received this money"?

Ben Shalom Bernanke: "I don't know".

Alan Grayson: "As the Fed was lending this money, the dollar increased by 30% in value, was this a coincidence"?

Ben Shalom Bernanke: "Yes".

The market for dollar borrowing is now effectively global and involves a lot of non-US players.
How did the Fed lend this much money without the consent of Congress?