Analysis: Is there a backdoor in Truecrypt? Is Truecrypt a CIA honeypot?

[Fly]

Not about Truecrypt in particular.

What if a program like this is backdoored, but the backdoor is only available to a few select agencies who only use the backdoor in a few select and highly important cases, keeping the 'myth' that the program does not have a backdoor ?

There is a certain logic.

That a program is open source doesn't mean it doesn't contain a backdoor.
How many people can analyze the code line-by-line and be sure it is safe and doesn't even contain backdoor-like vulnerabilities (plausible deniability) ?