Paul Craig Roberts and Dave Kranzler
In response to our account of the mysterious large rise in Belgium’s Treasury purchases http://www.paulcraigroberts.org/2014/05/12/fed-great-deceiver-paul-craig-roberts/ , it was suggested that the transaction would show up on the Fed’s balance sheet. However, the Fed is under no obligation to show the transaction.
The $141.2 billion in Treasuries purchased into the Belgium account represents 3.2% of the total current size of the Fed’s balance sheet. The Fed is a private corporation and is therefore not beholden to GAAP accounting standards. However even with GAAP standards applied, a corporation does not have to itemize and disclose the details of any event that represents less than 5% of its assets. In other words, the Fed can easily bury a 3% transaction in its financial statements.
You can read the rest of the analysis here: More On The Belgium Treasury “Purchase”
The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is. – Winston Churchill