The institution which creates and oversees America's currency wants to keep a "low profile," according to a published report on Monday, and may willing to dodge the U.S. Treasury in order to do so.
According to Bloomberg News, the Federal Reserve Bank will not submit to a voluntary public study of its internal structure and methods of governance, as it was requested to do so by Treasury Secretary Timothy Geithner.
Geithner is the former New York Federal Reserve Bank chairman. The review he requested is part of President Barack Obama's financial regulatory reforms, which he proposed in mid-June. Part of those reforms would have studied the Fed's "ability to accomplish its existing and proposed functions" -- a proposal the bank's board of governors appears to have flatly rejected.
"The agency also said that while the report requested by Secretary Geithner and his department has not yet been scrapped, no work has been done on the project, which is due Oct 1," noted Reuters.
"The institution is trying to keep a low profile," Vincent Reinhart, a former Fed monetary policy director, told Bloomberg. "To publish a report now invites comment on that report."
And comments are the last thing the Fed wants right now.
Under fire
The Federal Reserve has been under growing political fire ever since Congressman Ron Paul (R-TX) made it a frequent target during his presidential campaign. However, Paul has been a longtime opponent of the bank, openly calling for it to be abolished and the U.S. dollar to once again be backed by gold, instead of mere faith.
"From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble last year, every economic downturn suffered by the country over the last 80 years can be traced to Federal Reserve policy," Paul said in 2002, according to congressional records. "The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts."
His bill, House Resolution 1207, which would subject the Fed to a complete audit, has gained significant traction in the U.S. House of Representatives, with over half its members signing on in support of the move. Though mostly Republicans, a large cross-section of Democrats reached across the aisle to support the bill, and Rep. Barney Frank (D-MA), who chairs the House Financial Services Committee, recently told a town hall audience that the Fed will be subjected to a complete audit soon. He predicted the House will pass Paul's bill -- or an amalgam of it, wrapped with other regulatory reforms -- "probably in October."
"A companion bill in the Senate introduced by Sen. Bernie Sanders (I-Vt.) has 27 cosponsors," noted The Hill.
The Fed has also come under fire for refusing to disclose which firms it paid massive bailouts to in 2008 and early 2009, amid the greatest financial crisis since the Great Depression. A particular amount of interest among lawmakers has focused on the Bank of American - Merrill Lynch & Co. merger, which the Fed facilitated.
The House Domestic Policy Subcommittee, under the leadership of Congressman Dennis Kucinich (D-OH), subpoenaed the Fed in June for records relating to the transaction. New York Attorney-General Andrew Cuomo has claimed that, in 2008, then-Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke strong-armed BofA into buying Merrill -- a move that, if true, could expose Paulson and Bernanke to prosecution. That investigation is under way.
Fed Chairman Ben Bernanke "has vehemently opposed the idea [of an audit], asserting that it would lead to the politicization of monetary policy by giving Congress an easy way to second-guess any decision the Fed makes," noted The Los Angeles Times in late August.
That specific argument -- that the monetary system is endangered by closer observation of Fed actions -- was discounted by Judge Loretta Preska of the Manhattan U.S. District Court, in a ruling that ordered the Fed to disclose which firms received bailout dollars.
While the Fed argued that disclosing who was bailed out on the taxpayer's dime could be detrimental to the agency's independence from Congress, Judge Preska wrote that the claim was based merely on "conjecture" and the court remained unconvinced because the Fed had failed to provide adequate evidence to substantiate its claims.
"[The] risk of looking weak to competitors and shareholders is an inherent risk of market participation; information tending to increase that risk does not make the information privileged or confidential," she wrote.
-- Stephen C. Webster
Let's see now; a private entity that has the ability to suck up and deploy tax dollars doesn't want to be scrutinized? Well perish the thought. Dollars to donuts that this will occur via legislation. There does need to be a complete audit and accounting to the American taxpayer of this (arguably) un-Constitutional Federal Reserve.
The notion that there is even the tiniest sliver of legitimacy to this organized band of Zio-criminals we call the Fed is a complete joke.
They should not have any say as to whether or not they will submit to audit. Their officers should be rounded up and held in contempt until they comply.
They won't comply because the lion's share of the trillions (yeah, that's with a t) they've stolen under the guise of bailing out our economy have been funneled to their international Zio-partners in crime, many of whom are offshore.
Accountability is problematic in that our Big Zio shadow government will never permit their all important finance arm, the Fed, to be held to answer for their crimes.
They have nearly completed their purposeful ruination of our economy.
Buy gold! When it is revealed the the fed has been selling its stores of gold illegally to keep the price of gold down and therefore the dollar strong so they can sell off their debt, the dollar will die a violent death and gold will dance on its grave!
Abolish the Fed.
"...wants to keep a low profile...and comments are the last thing the Fed wants right now."
LOL, I don't doubt that.
OJ felt the same way after he slit Ronald Goldman and Nicole Brown Simpson's throats from ear to ear -- he just wanted to drive away in his white Bronco and keep that low profile.
Something lurks in the shadows at the federal reserve. There appears to be a terrible fear of it escaping among the denizens that live in it's deep recesses....
It sounds like the beginning of a horror story.
What's up with the new comment format? It's strange to me that more and more news sites are eliminating comment thread and discussion while at the same time they are providing worse and worse content.
May all the guilty live in fear.
When a semi-privately held organization, which has such significant power and sway over our economy, gives us a "Trust Me" story that claims oversight is not necessary, and would be detrimental, that's when I have to wonder "Why, exactly?" And that legitimate question leads to the need for oversight in any case.
Isn't that cute? The public gives them trillions, and they say "fuck you"?
shut them down.
Let's rock freedom mongers!
It seems the Fed has something it wants to hide. It's past time to root out this rot and return this country to a sound financial footing, something the Fed seems to be unable and unwilling to do.
"The Congress shall have Power To...
borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States..."
Inasmuch as the Federal Reserve system is Constitutional (which is debatable), what could lead them to believe that they are exempt from the oversight and regulation of the Congress and the Treasury Secretary?
The Federal Reserve is either with us or against us.
Actually kurt, I have been doing some research on OJ and it may have been his first son instead of him. Also the Fed is running scared because if they get audited it would show that thely have been running a massive liquidation ponzi scheme for decades. And for the Fed to say no to the US Treasury dept. and other congressional and govt. depts., tells me that not only is wise to audit them, but a guilt edged priority to do it. Because I have a strange feeling that they are sitting on a massive time bomb that will explode at some time in the future.
Bernanke, we have asked you in a nice way to give us a thorough audit of what the hell you're doing with our money. Now we're telling you. What makes you think we should trust you? GWB used that line so many times it now has no meaning. Just do it, Bernanke. We want the audit.
screw them...it's high time they get an audit...another "entity" that thinks they are above the law
Connect all the dots:
http://seminal.firedoglake.com/diary/5618
http://seminal.firedoglake.com/diary/3820
Some people think the Federal Reserve banks are United States Government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into States to buy votes to control our legislation; and there are those who maintain international propaganda for the purpose of deceiving us and of wheedling us into the granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.
congressmen
louis mcfadden 1933
i voting for ron paul in 2012
Should the Federal Reserve submit to an open review?
http://www.youpolls.com/details.asp?pid=6175
.
Given Congress behavior patterns, I'm not so sure we want them debating monetary policy every session. They would do little else than provide an avalanche of power plays every time they got together. If you think the health insurance debate is heavy with corporate payoff, wait til monetary policy is on the table every year. Sure, they'd love to get their fingers into that pie.
If Congress had paid more attention to Alan Greenspan when he talked, and acted on his recommendations, 2008 would have been very different.
I watched over the years as he warned them repeatedly they needed to act to reign in some of the more "exotic" behaviors in the financial sector. They did not. True, he spoke in hopeful terms, but that's all Congress heard. They blew off the warnings that came with the rosy news. The didn't want to rock the (gilded)boat.
I just don't think Congress is capable of debating monetary policy. Can you imagine Lindsey Graham's two cents?
That said, I do think an audit is absolutely necessary to restore faith. Yeah, people are going to freak out when they hear what was done and what Fox has to say about it, but we gotta go through it, even if it delays economic growth, which it will.
Abolish Fed? Maybe.
Gold standard? Let's see, what is gold used for? Oh yeah, computers and memory. Price of processors and memory tied to the dollar and Congress's regulatory whims? hmm...., I like $399 laptops. It would suck if they went back to $4000 every time Congress started talking about the dollar.
The independence of the fed means that they want to be independent of the rule of law and morality. They want to be free to RULE, I say we need to get rid of them now.
@Nick,
I would add:
Article I Section 8
No money shall be drawn from the Treasury,but in consequence of appropriations made by law;and a regular statement and account of the receipts and expenditures of all public money shall be published from time to time.
A private bank that prints the money then charges us interest on it while acting in secret is clearly not what the founders intended.
The FED building is sitting on land owned by RTA (resolution trust authority) Land held under Allodial Title. Man Oh Man, what a can of rotten meat is about to be openned. Very few here know what I refer to.
Why don't they just call it the 'Federal Un-observed."
I wonder how the conversation went when Geithner called his 'bros'. "Hey guys, they're makin' me request a review the operation". "Wadaya want me to tell em?" "Well Timmy, did you forget what the standard response always is?" "Tell them to go f**k themselves!" "Say, watcha doin' on Saturday? Are you up for a foursome?"...
Shouldn't this paragraph read something like this:
Geithner, an admitted tax cheat, is the former New York Federal Reserve Bank chairman. The review he requested is part of President Barack Obama's financial regulatory reforms, which are designed to destroy capitalism. Part of those reforms would also have studied the Fed's "ability to accomplish its existing and proposed functions" -- a proposal the bank's board of governors appears to have flatly rejected.
all i can say is it's long over due! they better get some prision cells ready!
Former POTUS Wilson deeply regretted his own role in pushing through the Federal Reserve Act. The country defaulted within a decade of the bill's passing and now the Fed is in charge.
Comply with the request or immediately issue arrest warrants for the top tier. We'll see how quickly they change their tune.
I don't think the truth can be revealed, because the America™ that we've been sold since birth doesn't even exist.
Presidents are just bankers' puppets.
I view this much like I would a 5 year old who's been caught taking something that doesn't belong to them and hiding it behind their back. We have to do the 'adult' thing in this case and MAKE the fed show us what their doing with OUR money.
Anyone who fails to comply should be arrested, tried and convicted as a conspirator of this obvious FRAUD being comitted against the American people.
There are far better ways to conduct our lives, but it's not yet time for us to learn, accept and use that yet. For now, we'll depend on this thing called *MONEY* .
Audit, Arrest and throw them in prison.........................NOW!
"Geithner, an admitted tax cheat, is the former New York Federal Reserve Bank chairman."
doesn't that say most of it right there? This "admitted tax cheat" was running part of the (privately owned) Federal Reserve Banking system. Why are tax cheats running our money supply? And why does the Government borrow money at interest from tax cheats when it has the Constitutionally granted authority to print and coin money, thereby causing the need to "borrow" to be a rarity (instead of the mandate with a central bank)?
Geithner is one of yours, you know.
So, Adam.. where do YOU stand on the (privately owned) Fed? Let's see if you have it in you to respond without partisanistic bullshit.
abrahambenjudea,
I think the RTA you mean is the "Russell Trust Association."
For those who don't know:
The Russell Trust Association (RTA) is the corporate name for the New Haven, Connecticut based Skull and Bones society (a "secret" society), which was incorporated in 1856.
It is interesting to note that In 1943, by special act of the Connecticut state legislature, the RTA's trustees were granted an exemption from filing corporate reports with the Secretary of State, which is a requirement for all other corporations.
Ever wonder how many Skull & Bones boys have powerful and influential positions within our govt? I think people would be alarmed, but the revelation of the truth will lead us to freedom.
I highly recommend people read "America's Secret Establishment: An Introduction to the Order of Skull & Bones, by Antony S. Sutton.
http://sandiego.indymedia.org/media/2006/10/119639.pdf
About the author: Antony Sutton was a research Fellow at the Hoover Institution, Stanford University, from 1968 to 1973. He is a former economics professor at California State University Los Angeles. He was born in London in 1925 and educated at the universities of London, Gottingen and California with a D.Sc. degree from University of Southampton, England.
"These volumes will explain why the West built the Soviets and Hitler; why we go to war, to lose; why Wall Street loves Marxists and Nazis; why the kids can't read; why the Churches have become propaganda founts; why historical facts are suppressed, why politicians lie and a hundred other whys...If I have a magnum opus, this is it." Antony C. Sutton, Phoenix, Arizona 1983
I haven't looked at the cancellation on the checks but is it true that at tax time your checks made out to IRS are on backside endorsed 'FedResrve'? I dunno, too much trouble to walk over to the shoebox. If so, next year I'll fill out my 1040 and mail it in unsigned, saying no remittance till the Fed says yes to audit.
Probably won't do any good cause sho nuff de be a October s'prise, something like a convenient terror attack on the NY Fed where records and key number fumblers are liquidated. I mean, look at the 911 Pentagon...all records of Dr. Dov's missing trillions plus bean counters who may have spilled the beans were toasted.
If they won't open the books for public review, then no more money. Bernanki can go back to his old summer job working for a North Carolina porn merchant.
Only question is why did Obama reappoint this dork - unless he's in on the scam.
You talk of closing down "the FED", I believe it should be done. The problems that will stem from such an action are however, myriad.
1. The value of the American Dollar will be zero in the world marketplace.
2. When we lose a common medium of exchange in this country, Barter will be the only thing left for a time.
3. Crimes of violence will climb exponentially, due to the fact that everyone will be so bloody confused on what is worth what, while those on the public dole will find they have nothing left.
4. When the dollar ceases to be effective as a currency, lawmakers will become completely ineffective as none will listen to or care what they have to say.
5. When all of the above happens, I foresee four groups of people left in the United States:
A. Rulers
B. Prisoners
C. Insurgents/Freedom Fighters/Guerillas
D. Dead
6. The intelligent thing would be, in my opinion, to ease out the dollar denominated paper money system and into a specie (Gold & Silver) money system.
7. Since 1 - 5 are almost a gaurentee, look for prison camps and labor camps to spring up in your neck of the country.
8. While we are busy ripping out each others throats, we will be to weak as a nation to fend off any incursion by other nations that currently hold treasury bonds and other markers of our public debt. Stand by whilst they decide if/that they will take what little we have left, possibly by force of arms.
h8amerikafurster,
Excellent point, Section 9, Clause 7 is probably more relevant, and a counter to those that argue against Treasury Department "intrusion" on the "independence" of the Fed.
I'm assuming, for the sake of argument, that the whole scheme is lawful in the first place, under some sort of nebulous Congressional authority and oversight that the Fed then rejects. Which is it? They seem to want it both ways.
The truth of course is that it is a private institution.
Shutting down the Fed isn't enough. It is time to exterminate the vermin that run the Fed and all their associated partners in crime.
This country is done stick a fork in her..Thank God(also i would like to know why there is another person on here using my name?
Adam from Tampa,
So your theory is that financial regulatory reform is really an Obama conspiracy to destroy capitalism, huh? Bwahahahahahahahahahahaha.... In all fairness, your comments have convinced me of one thing, though--there really is no cure for stupid.
What are you trying to 'stump' me Savantster? Convinced I'm not worthy? You're such a pompous ass. I stand behind RP on this one. I say the FED has caused more harm than good. Greenspan keeping interest rates at the floor for the better part of a decade were the building blocks for the mess we're in now.
Nick -
It's tax payer funded - therefore it's a government institution. If it were a private institution the FED would gamble with private placements. When the taxpayers pay the bills, as is in the case of the FED, it's a taxpayer owned institution.
Marxy McLiberal
I have a question about "gold." When things get so "bad" and things are scarce, like bread, meat, gas, etc. how do you exchange your "gold" coin into a small value to buy "bread?" Give a whole coin for the bread? Bite off of a chunk? I would rather have a "pocket" full of .22 shells in my pocket to barter with for food, etc. than coins. Every one needs ammo to pick off rats, squirrels, ducks, etc for food- just like using a "debit card."
Cadavre,
From "The Money Masters":
"The Federal Reserve consists of 12 regional banks, the stock of which is owned and the Boards controlled by the member banks, which are privately owned bank corporations. These institutions receive 6% profit on their funds paid into the Fed, rain or shine, peace or war (sometimes more).
The Federal Reserve Board of Governors is an independent (its own word) entity “within” the government (i.e., something much like an independent, internal parasite in a host organism), with 14 year, reform-proof terms (i.e., only one of 7 can be replaced every two years).
The Fed was deliberately designed to appear as a sort of government body to hide the fact that it is a private banking cartel whose member banks share in the vast profits of seigniorage (i.e., the difference between the cost of printing/minting or otherwise creating money [a few cents per $100], and its face value). Yes, the Department of the Treasury does still mint our coins (at the US mint) but that represents under 1% of the US money supply, the great bulk of which is simply bankbook entries - electronic keyboard impulses in computer memories - created by banks on-the-spot to fund loans they make in response to loans applications their "customers" submit (hence the competition by banks for your loan applications and credit card borrowing).
The Federal Reserve Notes we all accept as currency (there are no U.S. Notes printed since passage of the ill-advised, 1994 Reigle Act abolished Lincoln's greenbacks) are actually sold to the Fed at the cost of printing - a few cents per sheet - by the Treasury Department Bureau of Engraving and Printing. Seigniorage is properly a benefit solely to government (and indirectly then to the people) - not to private bankers - that the Federal Reserve Act, passed by misrepresentation and deception, transferred to the bankers. Thus, rather than the government receiving the vast benefits of creating all of our money, private banks create over 98% of our money supply - literally billions of dollars annually - and pocket the interest charged on loaning that new money, as their private profit. Our government is left with only the insignificant seigniorage from minting coins.
Since the bankers actually wanted to control the new, national central bank (called the Federal Reserve Banks), to accomplish this they had to make it appear governmental, which accounts for the occasional use of the term quasi-govenmental, to describe this governmental facade. This also explains the construction of the Federal Reserve headquarters building on the Mall in Washington, DC, right in the midst of the authentically governmental buildings there.
The real problem is, thus, not the Fed itself (it only makes about 2% of the money supply – the base for the rest), it’s the private banks that, pursuant to the fractional reserve banking authorized by the Federal Reserve Act of 1913, make/create-from-nothing-for-their-private-profit the other roughly 98% of the US money supply. The Fed is just a quasi-governmental smokescreen (and central organizing body) for the private banking cartel's money-creation operation."
http://www.themoneymasters.com/faqs.htm#q4
"Jack, you are out of your box".
At last!!!!!
What you are suggesting is occuring now and has been for years, and all off of the back of the FED.
Behind the existing concentration camps, bodybags, plastic coffins and eugenics., Behind , economic failure, starvation, homlessness, and hunger., Behind poisoning, contamination, murder, war on drugs, war on terror, war, CIA, ISI, MI5, the government and every damn thing else, you will find are all backed by the FED.
Those who own the money are responsable for everything adverse that occurs in the world.
Nothing will change, only the fact that "burning at the stake" will be brought back into law.,
Bankercide rates will go up.
Those that do manage to escape will probably end up in a bunker somewhere in the Afghan mountains with their boxes of Klee*ex, eventually ending up dead like their Hero Bin Laden.
Ending the FED can only gain respect and not only put our governments back in power but we will be able to create a ligitimate New world Order where freedom will be liberated.
HH
Yes we all want the Fed to pay... however, never forget the Golden Rule. I promise you, nothing will be done.
Then this is war on the Federal Reserve Banksters who are rogue agents operating outside the constitution and laws of this country ... it's time we see the blood in the water is our own ... for these monsters, these criminal Banksters have been bleeding us dry for a century. These private bankers who counterfeit money and sell it to the American with interest debt are refusing to submit to an audit. They have conspired to control our government and our economy for the select few. These Banksters are declaring war on the American people .... claiming privilege ... over our rights. We are in control ... not them. It's an illusion that we must obey them or something will happen to us. They are harpies and snake oil salesmen full of trickery and betrayal. Each must be called out and summoned to stand trial for their crimes and the crimes of their fathers.
Hey Cadavre, I laugh at "no more money for the FED." They are the FACTORY for money. You suggested the equivalent of threatening Ford with "no more cars for you."
Hey Congress, don't REQUEST an audit of the Fed. Go in with bazookas and ENFORCE an audit of the Fed. Just for the record. Because then, you OBLITERATE them. Corporate death penalty. Administered promptly.
[...] Read more… [...]
[...] This post was mentioned on Twitter by Shannon Stewart, Endrael, Alfred Wang, Stephen C. Websterand others. Stephen C. Webster said: Federal Reserve rejects request for public review http://bit.ly/2lDFSt [...]
If I'm not mistaken, the FED is owned by it's "member"banks who hold private stock with guaranteed returns from interest and from the collection of a portion of our income taxes. They have never been audited.
It is a "public-private partnership" ,the benefits are private,the public gets the shaft.
"damixaustex
If you think the health insurance debate is heavy with corporate payoff, wait til monetary policy is on the table every year. Sure, they'd love to get their fingers into that pie."
Yeah, heaven forbid they should perform their Constitutional duty. Like Corporations such as Goldman-Sachs aren't already running Monetary Policy. WakeTF up.
"If Congress had paid more attention to Alan Greenspan when he talked, and acted on his recommendations, 2008 would have been very different."
You mean the gibberish-spouting nincompoop I heard say in 2003 that if the Debt got too high, no problem, they would just "monetize it" (PRINT IT)? Yeah, Such wisdom.
The same senile nitwit criminal that opposed (with his Zionist criminal buddies Robert Rubin and Larry Summers) regulating Derivatives.
How did that work out, "listening" to him then, eh?
"Listen to Greenspan", yeah we already did: Depression time.
The Fed = the most audacious group of legalized criminals ever assembled, created to bankrupt the middle class and re-structure the placement of (old) money.
John F. Kennedy tried to do the same thing as Ron Paul. The Federal Reserve is the Illuminati that is basically Satan in disguise...........out to destroy the USA and eventually the world control..........don't receive the Mark of the Beast..........a chip embedded in your body.....Identity Theft is only to scare you into receiving the chip so your own identity is not stolen......
The federal Reserve is a Globalist Banker parasite. It has been slowly and quite deliberately killing the economy of the United States, and robbing Americans of thier hard earned cash for almost 100 years. The purchasing power of the dollar has fallen by over 90% since the Federal Reserve Act of 1913. Prior to this the dollar value was stable for over a hundred years.
The problem is that the fed is now a monster that literally has America by the throat. America needs own it's currency...instead of borrowing paper from the Fed,then paying them back the amount the fed says the paper is worth in money...plus interest. It cost the fed pennies to print paper U.S. currency....but we still have to pay the fed back plus interest as if it were real money. Pretty good deal for the fed and the criminals who have been robbing America blind for 100 years.
Shutting down the Fed isn't enough. It is time to exterminate the vermin that run the Fed and all their associated partners in crime...
[...] MORE…………. [...]
Cadavre, it's still a private institution. What pisses me off is that it's not related to any federal agency at all - meaning it has no governmental power (or shouldn't, anyway), and yet it's able to steal our tax money, without apportionment, and then have the government claim every year that there's trillions of undocumented money incoming to the "federal" banks. So where the **** is my money going, huh? My taxes are paying for your homes, your family, and your life? Repeal the 16th amendment, and don't file 1040's. It's against the 5th amendment for them to place us in prison for not filing or wrongly filing a 1040. Also, there is NO law or even statute that says it's mandatory, only that it's 100% voluntary, to pay the federal income tax, which doesn't go back to the community at all.
[...] [...]
what right does The Fed have to reject a public review? it's not their decision! join this movement: auditthefed.com
It's inevitable that a scenario like the one Jack #38 presented will play out in the very near future. The long-time NWO planners knew that the trade-off for their in-your face, so-called 'bail-outs' (euphemism for getting one step closer to Totalitarianism. They can taste it now) would be this increased scrutiny of the Fed.
The problem is that the state of this fraudulent currency is so toxic now, the junkies(us) can't help but go through a period of painful withdrawal. Obviously, how long and how painful remains to be seen.
Bottom line: Get your material and spiritual lives in as protected a place as possible and brace yourselves to the coming whirlwind.
Leave fedz alone already! I think they print the cutest little pieces of green paper!
Sibel Edmonds Reveals MASSIVE corruption - American Conservative Magazine:
http://www.amconmag.com/article/2009/nov/01/00006/
Hmmm
Lets be sure to have ALL the officers of all the reserve banks in custody before
we start the review/audit/investigation. Because there can be no doubt that what
the Fed has done with our money is NOT now, nore has it ever been in the best interests of the People of The United States. I believe that once the facts are established, the word treason will not begin to do justice to the evil perpetrated
against the American People by the Fed
it`s already too late...it`s been too late for decades now...indeed, stick a fork in US...we`re done...soon our puppet government will reveal the true, master criminals...the uberrich...
I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.
~ Woodrow Wilson
The FED is afraid for there lives literally and figuratively.
This is something Democrats, Republicans, Liberals, Conservatives and Independents can come together on!!!!
Come on people lets build on this !!!!
This is the moment we have been waiting for. It is now a shooting war between all human beings and the finance oligarchs. Buy gold--if you can. Otherwise stock up on things of value in hard times--non-perishable foods, tools, clothing, etc...and, of course, guns. Those guns won't do you much good but they will most likely give you a feeling of security for a while. Oh, and stay away from big cities and all large public gatherings (no ball games). They have the next 9/11 all ready to rock and it will be in a place where it will kill tens of thousands this time. Of course it will be Iran's fault, but I digress.
This is not a duplicate comment.
This is the moment we have been waiting for. It is now a shooting war between all human beings and the finance oligarchs. Buy gold--if you can. Otherwise stock up on things of value in hard times--non-perishable foods, tools, clothing, etc...and, of course, guns. Those guns won't do you much good but they will most likely give you a feeling of security for a while. Oh, and stay away from big cities and all large public gatherings (no ball games). They have the next 9/11 all ready to rock and it will be in a place where it will kill tens of thousands this time. Of course it will be Iran's fault, but I digress.
Let's all watch what happens to HR 1207 very, very, closely. I don't trust Barney Frank. He is part of the problem because he is like most in congress, an office boy for the people who really run things. Believe me, this is just more proof that there is not difference between dums and repugs.
I don't trust him. His weasel words were that, (paraphrasing him) either HR 1207 OR AN AMALGAM OF IT, WRAPPED WITH OTHER REGULATORY REFORMS. I'm going to be real interested to see what the "fixers" are going to do to take the teeth out of HR 1207.
We should all watch this and hold Barney's feet to the fire.
We need a recorded, up or down vote on HR1207. Don't roll it in with another bill.
AUDIT THE FED, THEN END IT!
The Federal Reserve Bank is excluded from audit by law.
US Code TITLE 31 > SUBTITLE I > CHAPTER 7 > SUBCHAPTER II > § 714 (b) Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Federal Reserve Board and Federal reserve banks may not include—
(1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;
(2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;
(3) transactions made under the direction of the Federal Open Market Committee; or
(4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.
"Given Congress behavior patterns, I'm not so sure we want them debating monetary policy every session."
Then quit putting pro-corporate douche bags in office.
Capitalism (which is never mentioned in the Constitution) is a disease, and it's corrupted and rotted the brains of a lot of people in America. The SCOTUS is about to say companies can contribute unlimited sums to get officials elected. It flies in the face of reason that a piece of paper, a concept, an artificial construct, should have the same rights as humans.. yet, that's what our courts (at the urging of those getting rich from the idea) seem to "think" is reasonable.
Government is corrupted because the people in America are incredibly ignorant, and that's a mechanism of consumerism, which drives Capitalism like it does. This mess was created by those kinds of people that run the Fed, so what makes you think private bankers (who's entire existence is about getting richer, and are completely unaccountable to the public) are doing it "right" and elected officials accountable to the public couldn't do it?
The entire paradigm is flawed, anyway. This system is not sustainable, and it's not something that can be applied across the entire globe. There simply isn't enough stuff to go around if everyone were to try and live like "Americans". ... and Americans only live like they do because they're stupid enough to believe that their individual worth as humans is tied into the amount of crap (and what labels are on that crap) they have.
We need proper education in this country (which means stop talking about Creationism and get back to facts, for a start). That starts to fix a lot of problems. We need to slow down on Consumerism because it's a self destructive cycle and we're on the verge of imploding. People need to become more open minded and spend time thinking about how to make the world, and by connection, their lives, better. Buying more crap doesn't do that.. and it doesn't give you any kind of lasting happiness.
Abolish money and 90% of crime would go away. A serious number of jobs would go away (giving more people more time to live their lives, or do other work for a lot fewer hours a week and we'd get more done to improve everyone's lives).. the Fed would no longer be needed and "rich people" become irrelevant. We have the ability to build a brighter future for everyone, we just don't have the will.. because we believe the hype, and in doing so, keep the very few living like gods among men instead of feeding, clothing, housing, educating, and entertaining the entire planet.
http://www.thevenusproject.com
The Fed Res Bank of NYC is sitting on a 500 TRILLION derivatives hole. Of course the Fed doesnt want any audit!!! This is like a crooked banker standing outside his bank telling the auditors arriving to audit, "No, no, you cant come in here. Stay away!"
Ridiculous, isnt it? What are you hiding, Bernake? You and your little buddy Geithner sitting on the lid of the explosive 500T derivatives hole isnt going to help you...its bigger than both of you. And its already been exposed ...for those who look.
NEW YORK FED’S $500 TRILLION DERIVATIVES ‘BLACK HOLE’ IS EXPOSED
http://www.worldreports.org/news/231_bernanke_personally_blocking_the_u.s._payouts
scroll down to the part with the headline. See for yourself.
Audit them at gun point
Fed Reserve = Private bank Cartel
Fed Reserve is listed next to Fed Ex in the white pages
The Constitution clearly states that OUR OWN treasury must print OUR OWN currency. This means WE THE PEOPLE PRINT OUR OWN CURRENCY. Had this been done, and had we kept OUR currency backed by metals, OUR TREASURY would be solevent and YOU wouldn't be having this huge false debt piling on your backs.
The Federal Reserve is a PRIVATE bank. Calls itself "Federal" to fool you. It has nothing to back up the money it prints! It is NOT part of government. It prints up money OUT OF THIN AIR, then it lends it to your govnt adding INTEREST ....(INTEREST, ON NOTHING). The government shifts this gigantic, ponderous debt onto your backs. The Fed is not legal, yet it has been operating this scam and hoax on the American people for nearly 100 years. AND THIS IS HOW AND WHY YOU ARE IN THE HORRIFIC MESS EXISTING TODAY.
Look around you at this nation. Every single thing built was done by hard American's labor. YOU did this marvelous work....your fathers and grandfathers. YOU GAVE VALUE. But what did you get in return? Monopoly money backed by nothing ..ran off the presses by the Fed REs out of thin air and you also got DEBT IN RETURN for your value given. False debt. My friends, YOU ARE THE ONLY THING OF VALUE, AND GOOD FAITH that America has, this is why all debt to foreign countries is piled onto your backs. The Fed is a laughing stock all over the world now. Countries will not accept its bogus money.......but they will accept a debt placed on YOUR back. This is why government has been running up gigantic debts in your name! Because you are the only value in this nation.
"Man was not born with a saddle on his back."...........Thomas Jefferson
So they reject a polite request to open up the books? OK, time to kick in the doors and TAKE THE BOOKS by force.
[...] [...]
Funny thing about laws, RussellJ.. they can be adjusted or repealed. Which is what Paul and Frank are proposing. That they denied doing it of their own accord doesn't mean we have to let them keep denying us, we just rewrite the law and remove their protection.
They print our money and loan money, at interest, to the government.. they charge everyone interest just to use money.. the central bank must be subjected to the will of the people, at least in an oversight context, or the Founding Fathers will have lost the country to those they sought to get away from in the first place.
While I can see nothing good coming out of an audit of the Fed, I think it should be done. Kick over that rock and let's see how many cockroaches are there.
To Commentor #74
We are a Nation of laws, no one is above the law, Corporation, men, Generals or presidents. The fact that you quoted a law made by congress means that the same congress can void said law.
Well, then, by God, I guess it will have to be NON-VOLUNTARY.
The G 20 meeting in Pittsburgh might be compared to a convocation of the House of Lords in Medieval Europe. We in America seem to be reverting from a democratic republic, to a rule by aristocrats. It appears that we have devolved into rule by various estates. The international megabankers and the world-wide investment firms seem to dictate the policies and agenda of governments, much like the Medici family ruled the Republic of Florence. Will wealthy financiers, such as George Sorros, and privately owned banking firms such as The Rothschilds and Rockefellers or the Federal Reserve Bank, and investment firms like Goldman Sachs, will send their representatives to Pittsburgh for the G 20 meeting? The World Bank and IMF will probably also be there to determine political policies profitable to their respective firms at taxpayer expense. As in feudal Europe, the peasantry will be subject to having their money confiscated for the benefit of their lords. Two issues will be global redistribution of American wealth and forgiveness of foreign debt in which the US taxpayers assumes the liability for loans given to foreign dictators.
Just as there were Tories in The American Revolution willing to subject their fellow citizens to the rule of foreign kings and nobles, there are politicians in both parties that are willing to subject our nation to the rule of these financial lords and despots. Just as the Tories were willing to give obedience to the foreign lords of Europe, these modern day Tories are willing to force us us to pay tribute and taxes to the plutocracy represented in Pittsburgh at the G 20. As The Obama Administration, members of Congress and the financiers of the New World Order transform America into Weimar Germany, we can only wonder if they have already designated a Fuhrer in the wings?
PS ( which can be eliminated in the interest of brevity)
There is one consolation concerning this G 20 convention. Just as the various estates of Europe fought for control of their serfs, so there are ambitious and avaricious lords who will presume to usurp all power and refuse to obey their financial betters. There will also be a contingent of the socialist who believe in supreme authority of the politician and the bureaucrat. We can see their neo-Jacobin mobs ready to riot and rampage at every meeting of international bankers or capitalist. Given enough power, politicians that can not be controlled by the monied interest often become the confiscators of plutocrats' wealth. Dictators have often started as puppets of the plutocracy. However, the tyrants then turned upon those who financed their rise to power.
The lady who rides the Tiger can never get off?
Michael Guy
P.S I a reading a book, The Plot against the Church, and the author exposes the perpetrators of the Jeckyl Island formation of the Federal Reserve Bank in 1913 ( and foisted by Woodrow Wilson) such as Jacob Schiff, Koehn and Loeb et. al. also financed Leon Bronstein ( aka) Trotsky and Vladimir Lenin ( also an alias) and brought about the overthrow of the democratic republic under Kerensky. ( The czar had already abdicated-which is what our President's czars should do)
In short socialism was and is financed by Wall Street and the great pltocrats such as Sorros and Armand Hammer.
I'll leave it to the reader to determine what the Fed chiefs, Treasury heads, Wall Street and banking concerns, such as Goldman Sachs, all have in common.
lets bring back hanging in the streets
Wall Street
Art students
9/11 snow job
Chicken hawks
Moving company
Propaganda media
DNC stealth neocons
Anti-semitism accusers
The chosen the superior
2-3% of the US population
Extortion blackmail bribery
By deception ye shall wage war
AIPAC's Israel-first dual-nationals
For profit NotFederal NoReserve scam
Words are plentiful deeds are precious ~
[...] Reserve rejects request for public review Federal Reserve rejects request for public review The Raw Story Federal Reserve rejects request for public review The institution which creates and oversees America's currency wants to keep a "low [...]
[...] From Raw Story: [...]
One word for the Federal reserve- VILE
yes, we should audit The Fed. we should prosecute the Board of Directors and we should confiscate all the ill-gotten gains since 1913 and return them to the U.S. treasury.
This illegal Federal Reserve Bank should be shut down and we should go back to the gold standard. At least then, our money would be backed by something tangible instead of just faith, which few people have in our government today.
May the truth set us free! If they have nothing to hide, why worry? At least that's the line they've been using on us for years. Likely they have a lot to hide. God help us when all they have in Ft. Knox is a 'good as gold' paper receipt. How on earth can gold lease rates be negative? Wish I could get in on that game. Abolish the Fed and send them ALL to Gitmo for treason, we cannot let these vermin run free, any of them. They are all corrupted sad excuses for people. Don't give up - keep bringing the fight until we are victorious.
the fed will not be audited. the international banking cartel will not allow it. they are the true paymasters for our congress. not the u.s. tax payer.
We need to change the law that protects them from oversight at the very least. I would prefer to do away with a centralized bank completely. It amazes me how much money they extract from us. My wife works at a local bank. Her bank is small, just one building, no branches. They have to maintain a $200,000 min. deposit with the Federal Reserve Bank just to conduct business. Her bank has to buy their money from the FRB at a price above face value and are required to pay a a transaction fee for each check and debit transaction. Every check that you write passes through the Federal Reserve Bank to 'clear' and they extract a fee for their service. The price the local bank pays to the FRB for cash is sometimes in excess of 50% above face value. A roll of the new Lincoln pennies for example can cost the local bank $1.50 if they order a large quantity and up to $6 per $0.50 roll if purchased individually. That's the main reason you don't see lots of those specialty pennies floating around, your local bank has to absorb the additional cost.
Isn't it nice that our government allows a single, private company to extract so much from us?
Jim Spence...
...
FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution
http://video.google.com/videoplay?docid=5232639329002339531
[...] a published report on Monday, and may willing to dodge the U.S. Treasury in order to do so.Source:http://rawstory.com/blog/2009/09/fed-rejects-geithner-request-for-public-review/ Publicado por Aaron en [...]
[...] And comments are the last thing the Fed wants right now. Read the article. [...]
[...] http://rawstory.com/blog/2009/09/fed-rejects-geithner-request-for-public-review/ a few seconds ago from web [...]
[...] The Raw Story » Federal Reserve rejects request for public review [...]
[...] GO TO FULL STORY [...]
Although "times" appear to be scary, I think there are issues that are coming to light about the Fed. It would do us all some good to address these issues (which are much bigger than our individual picayune agendas) as "one", as a concerned nation, as a conscious United States of America.
Who controls Federal reserve?
http://www.youtube.com/watch?v=NzLIz27GqWs
Most important question in US history?
http://www.usagold.com/federalreserve.html
Federal reserve controls US income/ finance?
http://www.scionofzion.com/federalreserve.htm
Is Ron Paul talking about this?
-Tore ‘Federal reserve’ Toivicco
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Hvem kontrollerer Federal Reserve?
http://www.youtube.com/watch?v=NzLIz27GqWs
Vigtigste spørgsmål i USA’s historie?
http://www.usagold.com/federalreserve.html
Federal Reserve kontrollerer amerikanske indkomstskat / finansiering?
http://www.scionofzion.com/federalreserve.htm
Ron Paul taler om det?
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by
Tore ‘Federal Reserve‘ Toivicco
England was that way until the Puritans became honest brokers and left all the other businesses in the sand. ,