Kucinich: Fed Deserves Audit First, New Authority Second
Hat tip: Dandelion Salad
Congressman Dennis Kucinich
Washington, Jun 17, 2009
Congressman Dennis Kucinich D-OH today made the following statement in response to President Obama’s announcement of new financial regulations that includes increasing the oversight authority of the Federal Reserve the Fed:
“Before Congress gives the Fed any new authority, we must thoroughly examine the Fed’s response to our current economic crisis.
“Since August 2007 the Fed has intervened in the economy in an extraordinary way, as a result ballooning their balance sheet from $847 billion to more than $2 trillion. Yet, we still don’t know what the Fed has done or who got the money. That is why I introduced the bipartisan HR 2424, which would grant the GAO the authority to audit the Fed’s response to our nation’s economic crisis, a response that has dwarfed the $700 billion TARP program by more than 2 to 1.
“Before we grant the Fed any new authority, we must demand greater transparency from the Fed; an earnest and open audit of the Federal Reserve’s response to the economic crisis would be a significant step in the right direction. We can’t continue to let the Fed operate within a black box.”
Kucinich used the text of HR 2424 in an amendment to the Government Accountability Office (GAO) Improvement Act of 2009 during its markup in the Oversight and Government Reform Committee. The amendment was adopted unanimously. The Oversight and Government Reform Committee is charged with overseeing government policy and often relies on the GAO.
The Secrets of the Federal Reserve
Bob Chapman
Global Research
May 14, 2009
The Federal Reserve Act was legislated in 1913 to end recessions, panics and depression. Over that almost 100-year period they have been eminently no more successful then their predecessors. The Fed is a private corporation, which guides US monetary policy. Its staff is from Wall Street, banking, and transnational conglomerates and occasionally from academia. Of the 12 Federal Reserve banks the New York bank is the most powerful. The staffing of the Fed at the least is incestuous, because the member banks take part in the staffing, as they filter to the Fed what actions they should take.
That is done by the FOMC, The Federal Open Market Committee. As a further example the recent stress test done by the Fed was done on many of their owners. Sadly the public is unaware of this and even business majors and those with business masters degrees do not know that the Fed is privately owned or what they actually do. For those of you who would like to get a better understanding read G. Edward Griffith’s, “Creature from Jekyll Island” and the “Secrets of the Federal Reserve” by Eustace Mullins.
Recently we discovered that $101.4 billion was originally secretly funneled through AIG to AIG counterparties – parties that were owed these sums by AIG, which had not collateralized derivative contracts. That is like writing insurance and having no collateral reserves set aside for losing events. The Federal Reserve in their wisdom paid off AIG’s debt with what eventually will be taxpayer debt. This is wrong and it should not have been done secretly. When demanded by a Federal Judge to reveal to whom these monies were paid and under what circumstances, the Fed said it would harm their reputations and it was a “state secret.”
The biggest gun in the Fed arsenal is the New York Fed. The recently appointed Secretary of the Treasury Timothy Geithner was the NY Fed’s previous governor. Mr. Geithner had worked in government previously and was in part responsible for the Asian financial disaster in 1997-1998. He is also a Goldman Sachs alumnus. He is part of a never-ending exchange of the denizens of Wall Street and banking being appointed to government positions. In fact Wall Street and banking have been running our government for a long time. Many say for too long.
A Meditation on Our Monetary System: State of Permanent Siege
by Richard Cook
Hat tip: Global Research
THE LEVEL OF PUBLIC IGNORANCE on the topic of the U.S. and world monetary system is astonishing. This is part of the plan, of course, because the monetary elite control not only the financial system but also the news media, the publishing industry, and the educational system. The blueprint for control was put together over a century ago by Cecil Rhodes and his friends, including British financier Nathan Rothschild, as documented by Professor Carroll Quigley.
During the 20th Century the power shifted to the U.S., with the Rockefellers playing the dominant role as they continue to do today. It is no accident that J.P. Morgan Chase—the Rockefeller family bank—dominates the U.S. derivatives market; nor that Exxon-Mobil, the Rockefellers’ oil company, is the most profitable corporation in history.
The basic plan was to place all of mankind in a state of permanent mental and emotional siege so that in the end we would trade all our liberties to the controllers in return for protection; even freedom of thought would be traded for physical safety. That plan is well advanced. The sheeple have been prepared for the final shearing.
Meanwhile, every attempt at real reform has been strangled in the cradle. Past voices for monetary sanity like those of Congressmen Louis McFadden and Jerry Voorhis were silenced. Starting in the 1970s, functionaries like Kissinger, Brzezinski, and Volcker carried out David Rockefeller’s plan to outsource manufacturing to China and eliminate the U.S. as the world’s greatest industrial democracy, replacing it with a financier oligarchy.
Barack Obama obviously works mainly for the financiers, as did Bill Clinton before him. The job of the Democrats is to keep the sheeple quiet by now and then implementing some “reforms”; the Republicans were a more blatant gang of looters.
Ron Paul: Culprits of Financial Bailout Should Be Arrested
Paul Joseph Watson
Prison Planet.com
Thursday, March 12, 2009
Congressman Ron Paul says that the people responsible for the economic crisis should not be hailed as saviors and given more power to fix the problem that they created, but arrested and criminally prosecuted.
The Congressman has two bills before Congress, one to abolish the Federal Reserve altogether and another to audit the organization.
“Today they’re protected, they’re in total secrecy and they’re protected by the law — if 1207 is passed we have an audit and they have to answer the questions and I figure, if we ever get that far and get the exposure and get the transparency that we need then people will wake up and realize, why do we have them at all,” said Paul.
Know Thine Enemy: The Hegelian Dialectic (Problem, Reaction, Solution)
The “End the Fed” Protests are the (Secret) Road to World Government
Jeffrey Grupp
Infowars
April 16, 2009
The mass media is hijacking the patriot and Truth movements by (1) attempting to take over the debates about the issues that the patriot groups have been discussing for decades by suddenly, all-at-once blasting them into the mass media in a twisted, vacuous, and manipulated way, and (2) by taking over the anti-Fed “revolution,” also by spotlighting it vacuously in the corporatist mass media. But we know that if the New World Order wants to hijack the patriot and Truth movements, they won’t just do it from these angles, and instead they (A) will attack it from many angles, and more importantly, they (B) will use their attack to, additionally, set up their Brave New World. This article is about (B), and what I want to suggest is that the New World Order is deliberately false-flag-attacking the Fed in order to ultimately destroy it, leaving the perception of a void in the financial world, wherein they will fill that void with THEIR choice of a new banking and money system: global currency, global bank, global governance/government. More specifically, here’s what I theorize is commencing:
1. The New World Order is using the corporatist mass media to co-opt the real anti-Fed revolt (originally started by WeAreChange), in order to blend it with a fake anti-Fed revolt that they are setting up, in order to incite a broad anti-Fed revolution among the US citizenry, which should hit high gear later this year, if not by summer.
2. The New World Order will use what I just stated in 1, and the pre-planned and staged problems with the increasingly weakening banks and US dollar (which will ultimately collapse fully), in order to modify or abolish the Fed and the current money system.
3. And the New World Order will present a specific solution to this pre-planned scenario I just stated in 2 in order to replace the current banking and money system with, they will tell us, a ‘better’ system: a world banking and money system.
Ter·ror·ist (noun): Anyone Who Disagrees with the Government
Hat tip: George Washington blog
The Department of Homeland Security and police forces label anyone who they disagree with – or who disagrees with government policies – as “terrorists”.
Don’t believe me?
Well, according to a law school professor, pursuant to the Military Commissions Act, “Anyone who …speaks out against the government’s policies could be declared an ‘unlawful enemy combatant’ and imprisoned indefinitely. That includes American citizens.”
And according to an FBI memo, peace protesters are being labeled as “terrorists”. Indeed, police have been terrorizing children, little old ladies and other “dangerous” people who attempted to peacefully protest.
And a 2003 FBI memo describes protesters’ use of videotaping as an “intimidation” technique, even though – as the ACLU points out – “Most mainstream demonstrators often use videotape during protests to document law enforcement activity and, more importantly, deter police from acting outside the law.” The FBI appears to be objecting to the use of cameras to document unlawful behavior by law enforcement itself.
And the Internet has been labeled as a breeding ground for terrorists, with anyone who questions the government’s versions of history being especially equated with terrorists.
Now, the state of Missouri has labeled as terrorists current Congressman Ron Paul and his supporters, former Congressman Bob Barr, libertarians in general, anyone who holds gold, and a host of other people.
In other words, anyone who disagrees with the “acceptable” way of looking at things is a terrorist.
How is this different from Stalin or Mao’s use of labels such as “enemy of the state”?
Bernanke To CFR: New Financial Authority Is Needed
“Reform of financial regulation and supervision should be coordinated internationally to the greatest extent possible.”
Steve Watson
Infowars.net
Tuesday, March 10, 2009
Federal Reserve Chairman Ben Bernanke has told an elite gathering that a new overarching financial authority should be created by the government and empowered with sweeping new regulatory responsibilities.
Bernanke also coyly indicted to the renowned globalist group that he believes a new international order could be fomented out of the crisis.
“We must have a strategy that regulates the financial system as a whole, in a holistic way, not just its individual components,” Bernanke said in a speech to the Council on Foreign Relations.
“We should consider whether the creation of an authority specifically charged with monitoring and addressing systemic risks would help protect the system from financial crises like the one we are currently experiencing.” he added.
Large firms will require “especially close” oversight in the future, Bernanke noted, adding that regulators need the authority to seize such firms.
“Some of the policies I propose can be implemented and developed under the existing authorities of financial regulators, indeed we are in the process now of doing just that. But in other cases, Congressional action will be necessary to create the requisite authorities and responsibilities.” Bernanke said.
Financial fix? Abolish the Fed, says congressman
Paul: Constitution requires coin based on gold, silver
February 21, 2009
By Bob Unruh
© 2009 WorldNetDaily
U.S. Rep. Ron Paul
In just recent weeks, the federal government has designated billions of tax dollars for bank bailouts, including vast quantities to quasi-government agencies that helped create the economic crisis; billions more for automakers, and billions more for homeowners who default on their loans, so where will it end? Republican Rep. Ron Paul of Texas says he has at least part of the answer: abolish the Federal Reserve.
The congressman, a candidate for the 2008 Republican presidential nomination, once again has introduced a bill that would get rid of the private organization that sets interest rates and establishes monetary priorities.
“Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy,” Paul said in a statement at the time the proposal was introduced.
“The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency,” Paul said. “The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.”
