"Bloomberg's Megan Hughes reports that an investigation by the Inspector General of the Federal Reserve found that accusations made by Rep. Ron Paul of the Fed being the source of the cash used in the Watergate scandal and providing a loan to Saddam Hussein in the 1980's were false. She speaks on Bloomberg Television's "InBusiness With Margaret Brennan." (Source: Bloomberg) "
Of course the Inspector General of the Federal Reserve would say they didn't do that.
Is this the same inspector general that could not tell the Congress how the bailout money was used? Even though it is her job to know how the Fed spends money....because she is the INSPECTOR GENERAL.
The Secret Service and CIA can confirm that the ESF is used for under the table executive branch transactions. The debt the ESF (ESF is part of Treasury) monetizes through the Fed is not even accounted for by the Treasury.
Exchange Rate Oversight
Exchange Stabilization Fund: Slush Money or War Chest?
So, that dumb **** might be technically correct in that the FED does not directly give the money to undercover operations, it does, however, monetize the debt that the ESF uses to give money to undercover operations.