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Economist With Financial Services Committee For Eleven Years, Assisting With Oversight Of The Fed, Supports Ron Paul's Questions
Today, Ron Paul accused the Federal Reserve of having a hand in nefarious plots such as Watergate and arming Saddam Hussein.
A 1992 article
in the Los Angeles Times reports that the Fed had only a minor,
indirect role in providing loans to Saddam (it was mainly the
Department of Agriculture which made the loans, with backing from the
State and Treasury Departments). The Times article also appears to say
that most of the government officials involved thought that Saddam
would use the loans for humanitarian purposes, and paints the Fed as
the most reluctant of the involved agencies.
However, in 2008, the University of Texas published a book by Robert
D. Auerbach - an economist with the U.S. House of Representatives
Financial Services Committee for eleven years, assisting with oversight
of the Federal Reserve, and subsequently Professor of Public Affairs at
the Lyndon B. Johnson School of Public Affairs at the University of
Texas at Austin - which seems to support Paul's questions.
In Deception and Abuse at the Fed, Auerbach claims:
Major instances of Fed mismanagement and abuse of power that were exposed by [House Financial Services Committee Chairman/Ranking Member Henry] Gonzalez, including:
- Blocking
Congress and the public from holding powerful Fed officials accountable
by falsely declaring—for 17 years—it had no transcripts of its meetings;- Manipulating the stock and bond markets in 1994 under cover of a preemptive strike against inflation;
- Allowing
$5.5 billion to be sent to Saddam Hussein from a small Atlanta branch
of a foreign bank—the result of faulty bank examination practices by
the Fed;- Stonewalling Congressional investigations and misleading the Washington Post about the $6,300 found on the Watergate burglars.
You can read details of Auerbach's allegations about Iraq here, and about Watergate here.
Moreover, a 1982 article from the Miluawakee Sentinel alleges:
Police who searched the room the Watergate burglars used
found $4,200 in $100 dollar bills, all numbered in sequence. [Senator] Proxmire
asked the Federal Reserve Board where the money came from. As he
explained in a letter to the late Rep. Wright Patman (D-Tex.), chairman
of the House Banking Committee: “I got the biggest run-around [from the
Federal Reserve] in years. They ducked, misled, lied, and gave me the
idiot treatment."
I
don't yet have an opinion as to what this means, whether Auerbach has
his facts right, or whether his allegations - if true - really amount
to proving that the Fed had a major role in arming Saddam or
stonewalling Congressional investigators about Watergate.
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Checkmate. For those of you who missed it.........
Ron Paul grills BS Bernanke:
http://www.prisonplanet.com/ron-paul-grills-bernanke-on-watergate-saddam...
Snicker.. A Texan out-smarts a jewish banker. That would be a neat trick.
FYI - As of Sept. 1, 2001, it is illegal to possess an open container of alcohol in a motor vehicle in Texas
You only have to worry about that malum prohibitum law if you are stupid enough to get pulled over and keep it out in plain sight.
You write like a lawyer (so do I....) : )
Merci. Spread truth.
still they have plenty of drive-through liquor stores
That is a bible belt thingy. In AL they have to wrap beers in bags so the other Baptists don't see one walk out with a beer.
I grew up in CA where an open container was illegal. Moved to FL and still hid the beers as I drove not realizing it was legal to have one open (that was 1979). Then went to TX and did the same, again not knowing that what I was doing was perfecly legal.
Still drive with an open beer but it is now poured into a plastic Hardees cup so if pulled over I can dump the contents and tell the cop it was warm ice tea.
Bummer! One of my great pleasures of living in Texas in the 1970s and 1980s was driving remote highways with a cold one. Lots of Texas is so spread out that you could buy a beer, hit the road again, slowly drink it, and you arrive at the next town to buy another!
Sort of an early version of: Wash, rinse, repeat.
I remember those days, you could also get drive times in beers; "San Antonio? Oh, thats about a 3 beer ride". Sadly, Texas is now a police state.
Texas isn't the only police state in the land.
Seriously, when I was growing up, that's how it was. Crazy, but we all sipped beer in the car. I think cops had beer while on patrol.
Got busted with 8 cases in the trunk in WA 40 years ago.
Never saw ossifers move that much weight so fast.
Left me with "Don't get caught again".
Oh, thanks, I didn't realize the law had changed.
I think #2 is much more likely than what you're suggesting. Just because something sounds bizarre doesn't mean it didn't happen.
agreed, if you read the details of the iran-contra mess, and I mean details that are facts no one disagrees with, sworn testimony, multiple sources law enforcement and govt agencies confirming, mainstream media confirmation etc...they read like something an editor would reject as too fantastic for a novel...contractors hired by CIA flying cocaine from central america onto Homestead Air Force base to sell in amercians in US cities to fund terrorism in a small, far away country of 4 million people, US officials doing backroom deals all over Europe to negotiate with terrorists in Iran to release hostages essentially moment Reagan took oath (who would would be nutty enough to time it that obviously), gun/drug deals involving at least 7 foreign countries, Oli North and his blond bimbo and his safe filled with goodies, all undisputed facts...but sounds crazy.
exactly. bernanke didn't deny anything. he said; that sounds bizarre and i don't know anything about it. that, of course, isn't a denial.
I was sitting here watching the Podcast, and thinking, 'Oh, good, Ron Paul is up, now...just ask Ben-bob if he's ever bought sovereign paper (specifically Greek paper), and does he plan to do so in the future----but no-o-o, he goes off on wild-ass Watergate BS, to which Ben-bob replies, "some of the statements you've made are, well, frankly bizarre". At which point I went to bed (I work at night).
If you waited a minute then you would have seen the Greek questions which Benny denied and also seemed to think were silly questions
The classic non denial denial.
I would make Ron Paul our dictator, that's how much I trust the man.
I second that! He is the ONLY honest, knowledgable, and moral polititian. I am so excited that he is being heard...and more importantly being proven right! He's been calling this stuff out for YEARS and no one wanted to listen. Bernanke is going down. End the Fed!
Basically Ron Paul is the only hope we have.....
Hopefully a Luke Skywalker pops up somewhere. If Ron gets knocked off they will just link it to his age...
Smooth, I like his style,might make a good President.
Getting a look at what the FED has done since 1913 would likely be the last thing you'd ever see in this world.
This organization is operating like a magician, with sleight of hand that only a true insider would ever be able to figure out.
Vaguely recollect some such transfers such as that $ 5.5 B as DoD/CIA or other black funds to Iraq through BCCI. Many such transfers were either never reported or if reported, ignored by the regulatory authorities as constituted official government business. Much of or like this was briefly in public domain but virtually ignored by MSM and public.