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The Federal Reserve Under Increasing Fire
A must watch introductory clip by the American News Project which summarizes well the current push to unmask the inner workings of the Federal Reserve, the urgency of increasing transparency and the groundbreaking nature of Ron Paul's HR 1207 bill.
And for a more advanced discussion of the Federal Reserve and whether or not Bernanke claim that the Fed has a constitutional claim to monetary policy independence is constitutional, the linked piece by Professor James Galbraith is a must read.
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Ben Bernanke is threatening the country with dire consequences if audited. We are already in peril. We are hip deep in shit.
these are the people our founding fathers warned us about. pray that they are removed. thank you tyler for bringing more light to the subject.
The founding fathers were bat shit crazy according to anonymous discourse on Zero Hedge blog. So please refrain from bringing them up, lest you discredit yourself.
I am Chumbawamba, and I am here to point out the obvious.
im not applying for credit, so ill take the liberty of bringing up whatever i like in my posts.
Ty,
Ron Paul? You cannot be serious.
and a couple of hundred (245 to be exact) of his colleagues who co-sponsored HR 1207 - but fear not it is all but dead
Ron Paul is Ross Perot with a medical degree and without the petulant whine, the kind of a guy who believes there's a Conspiracy around every corner and an attack on every avenue.
notwithstanding, are you in agreement with S 604 -
I don't think libertarians believe there will be an attack on every avenue by some unknown aggressor, rather, there has been a successful attack on Pennsylvania Avenue by the financial industry. Ron Paul just thinks we the people have the right to take it back. You're a jackass.
Oh, yeah, because Ron Paul is just a cranky old coot who needs to change his diaper.
I am Chumbawamba, and you are my little bitch. Go put on that G-string and pack my bowl, little bitch.
awesome
too bad the MSM has all but shut out HR 1207 / S 604 - -
if you don't believe me search it on google news and the only stuff that comes up page one are the conspiracy and right wing sites = http://news.google.com/news?um=1&ned=us&hl=en&q=hr+1207+s+604 - -
so we have a frigging Czar of Science (John Holdren) who's a hardcore eugenicist and now we have various leaders from G8 calling for global governance = http://www.youtube.com/watch?v=eNYx2Ryaaps (video of Canada's PM) -
- and as we continue our 30 day period of mourning for the King of Pop HR 1207 / S 604 are dieing on the vine...
Ty,
That the fed must be audited is without question.
That fed policy is literally established by Wall Street and the hedge funds is well known.
But Ron Paul? Ron Paul does not advocate better, comprehensive regulation that protects the American consumer.
Ron Paul, instead, wants NO regulation and a complete Wild, Wild West market. Ron Paul is flat out insane. Stick to reading his platitudes in their original German.
RP is, or may be, bat shit nutz, but if you agree with the message (legislation) then let him deliver it.
Perhaps there is a chance that the baton can be handed off without being dropped.
No, what you really have to do is to see Ron Paul as a shadow government. Now that the West Coast Hotel v. Parrish scrutiny regime is collapsing (the Federal Reserve was an embryonic expression of the scrutiny regime--long before 1937's West Coast case), shadow governments are starting to form.
I'm really interested in the military ones--there's always a lunge in the military direction when the regime collapses. What ARE those squirrelly generals DOING?
...and there's no greater bank regulator on the planet than the threat of bank run. All the institutions created to "regulate" banking are designed to protect the banks from their customers, not the customers from the banks. What exactly are you insinuating about reading Ron Paul's platitude in their original German? Are you trying to say that RP is a fascist? Or are you trying to say that he's some sort of anti-Semite? Because you're either failing to communicate a coherent thought on such a catastrophic level or you are completely and embarrassingly full of shit. Either way, you need to pick up a book and no longer post while hopped up on whatever retard drug you're taking.
Fascist? No.
Bat shit? Maybe.
Completely opposed to regulation? You betcha.
And Ron Paul's supporters make Dittoheads look tame and flower children violent. Ron Paul's supporters are of the Wacko Jacko variety. Total Fruit Loops with extra sugar added for a kick types who really ought to take a chill pill that is NOT a hit from their collective bongs.
Oh Mr. Bernanke, don't you have a Fed to run? Why are you wasting time posting comments on ZH?
I am Chumbawamba, and one day you shall scream for my mercy. But I will just push it in deeper. Oh...yeah.
uh oh Tyler--Shill alert!!! You are full of it and everyone here knows it so don't waste your time idiot shill!!!
Paul supporters batshit crazy? So what term would you use for Bush or Obama supporters and cohorts? Super duper extra high test batshit crazy?
There are Ron Paul backers in my community who claim that fluoride in the public water supply is really a mind-altering substance that threatens the grass and hash markets. More than a few Ron Paul types think that the local dog control officer is really an agent of Satan who has implanted microchips in wayward mutts for surveillance and Madison Avenue marketing purposes. These types sound great for the first three sentences and then make Sarah Palin seem like a functionally literate life form.
I posted earlier regarding Obama's science Czar (Holdren) as a strong proponent of eugenics - does that make me a wacko or simply well read? - http://www.questia.com/PM.qst?a=o&d=98156598 - Would followers of the esteemed Steven Chu and his pronouncements along with those of Al Gore that the Arctic Ice Cap is melting be counted among the wackos; more likely a member of the liberal elitist crowd. And then we have that same Al Gore calling for a new era of global governance - http://www.climatedepot.com/a/1893/Gore-US-Climate-Bill-Will-Help-Bring-... - Perhaps someone should ask the simple question: What percentage are Carbon based gasses (human and natural) of total greenhouse gasses? Try <5%
and you must at least get minimum wage for your work as a shill for the fed!!!
The public will be quite interested to know that the fed has benefited from trillions in the system while America goes bankrupt--it is and always BULLSHIT that the toobogtpfail had to be saved to save the world--truly, the toobigtofail had to be saved to accomplish the completion of the biggest bank heist on record!!!!!!!!!!!!!!!!!!!!!!!
Bernanke's profession in the alternate universe
http://www.youtube.com/watch?v=jvjDr8KKtsE
Game Over ?
They have until October.
Politics always trumps Free Markets and it's all calculated!
If this fiasco hasn't turned-around by then, the O-Team will send in "The Cleaner" and the Election Cycle will rein.
Result:
- misallocated Capital encouraged overcapacity and the Social Contract with Labor is null & void
- End of '09, Bargaining & Hope is lost and Anger causes heads to roll (i.e., B.B., L.S. and T.G. are out as nation moves closer to socialism)
- 2010 will bring Depression and will end with Acceptance
- 2011 re-election campaign kicks in with promises to Labor of a "Road to Recovery"
- 2012 Capital gets the backseat, Labor is in the driver's seat. O-Team is re-elected with a majority in the House
The fate of capitalism as we know it, will forever have changed!
Peter
Never mind that. Lakshman says everything is fine. What is your response to Lakshman?
NEW YORK (Reuters) - A gauge of future U.S. economic growth edged higher in the latest week, sending its yearly growth rate to a two-year high that suggests a near-term end to the recession, a research group said on Friday.
The Economic Cycle Research Institute, a New York-based independent forecasting group, said its Weekly Leading Index rose to 118.5 for the week ended July 3 from a downwardly revised 117.4 in the prior period, which ECRI initially reported at 117.6.
The index's annualized growth rate plowed further into positive territory to a two-year high of 5.4 percent from 3.9 percent the week prior, which was revised lower from 4.0 percent.
It was the highest annual growth rate the gauge has seen since the week to July 20, 2007, when it read 5.7 percent.
ECRI Managing Director Lakshman Achuthan holds that recovery is imminent before the year's end, as long as economic data continues to weaken at a slower pace.
"It is increasingly evident that, despite widespread misgivings based on backward-looking economic data, the end of recession is at hand," said Achuthan.
The weekly index rose due to lower-than-expected jobless claims and stronger housing activity, according to Achuthan.
Political pressure isn't going to accomplish anything here.
It's going to take people pressure: general strike, million+ people on the capital mall, etc.
And that isn't going to happen because the average person doesn't care.
Uh, no. It's going to take ballistic pressure (i.e. the kind that comes out of the barrel of a rifle).
I am Chumbawamba, and I am armed to the teeth, waiting for the revolution to begin.
Not yet.
I am one of millions that care deeply about America.
BTW..please define *Average*
I love how any time an idea is contrary to mass schema - everyone calls you bat shit & crazy.
GO RON PAUL GO !!!!!!!!!!!!!!!!!!!!!!!!
There is no defense for anyone who defends Bernanke. It is a fact that anti-blog warfare is a large part of the White House. I suspect a number of those who defend $2T of Wall Street handouts with NO QUESTIONS ASKED are part of that program.
The amusing thing is that Ron Paul is called a conspiracy nut for wanting to simply know where the $2T is. He has said NOTHING about controlling where it goes, or taking any of it back. He simply wants to know who is getting it. Everyone in this country who thinks one man should have unlimited access to the treasury does not understand what democracy means, and should promptly move to North Korea.
Clear and concise Anon @ 18:55. North Korea, lol.
Wow,
There are some bitter people in here.
I would have to say there are some serious misconceptions about the Austian School of Economics and Ron Paul supporters in general.
Claiming that Ron Paul is opposed to all forms of regulation and is in any way an apologist for the banking industry is absolute bullshit. He may be old, limp wristed in calling out Ben Bernanke, and somewhat inneffective in his previous crusades against the fed, but theres a few points that are being completely ignored.
Many "libertarians" feel the root of the problem with our financial system is Fractional Reserve Lending, most likely believe in a precious metal standard and are against Central Banking. In many cases they believe Fractional Reserve Lending equates with fraud. I do not necessarily share this belief, but I can see how they would come to this conclusion.
Think about that for a second, If you are 100% against the practice of FRL, you know that this practice will not be ending any time soon, but you want to inhibit the inherently inflationary nature of Fractional Reserve Lending.
Many "Ron Paul" supporters spout the idea that all regulations are bad, and this is obviously juvenile. In our system, Fractional Reserve Lending without regulations (Glass-Steagall, proper Capital Reserve Ratios) creates an environment that lets FRL completely go batshit out of control, and leads to systematic fraud, whether or not the practice of FRL is fraud itself.
Some understand this, some dont. Those that do, understand that having these regulations in place provide a way to put a cap on fraud, as ridiculous as they may find the practice to be.
If Fractional Reserve Lending is to exist at all, there is a base set of regulations by definition that must be in place. Otherwise, banks could theoretically lever themselves to infinity because there are no set reserve ratios to keep FRL under control.
So talk about "deregulation" in the name of the "free market", especially the kind that was pushed by Hank Paulson, Robert Rubin etc. etc. during the last 25 years is immediately seen as corporatist BS by the intelligent observer, especially if one is against the practice of Fractional Reserve Lending. So much is done in the name of the "free market" when arguably we havent had a free market in over a hundred years. Without a base set of regulations, any "deregulation" that is done in the absence of this is going to be crony capitalist bullshit that is completely anti-free market.
Go ahead, if we lived in pie in the sky world, and we had 1:1 reserve ratios, a gold standard, you still would need regulation, arguably MORE because keeping banks from lying about their balance sheets would be so much more important.
I can't speak for Ron Paul, but i'm sure he knows this as he voted against Gramm-Leach-Bliley, takes very anti-inflationary stances and crusades against the Fed. Thats what he does.
But yes, arguably he is too much of an idealist, and can bloviate too much over theoretical stances on monetary policy. But I agree with him more than any other American Politician.
Oh and not all Ron Paul supporters are tinfoil hat conspiracy theorists (any more than the average person on this SITE). Theres a bunch, but by no means the majority.
hedg,
You present your positions in a cogent, tangible, well-reasoned manner. I agree with many of them. Not all, as I see the gold standard to be something of a canard to appease those feeble of mind and weak of work ethic.
As to the benefits of Glass-Steagall and proper capital reserve ratios and the foolishness of Paulson, Rubin, Bernacke, Greenspan, and their brood, I can only support your positions and ask why more Ron Paulites fail to emphasize these salient points.
Unfortunately, you're also hampered by Ron Paul despots such as chumbawamba, his year's supply of canned food, his water pistol, and his bomb shelter. Types like that do little for Ron Paul and his positions. They do, it should be added, provide a revenue stream for state hospitals and the penal system.
Ron Paul's message on these issues is, for the most part, spot on; his messengers, such as chumbawamba, add nothing to the conversation except, of course, laughter.
Well, Ive worked with Ron Paulers quite a bit, even if I am not exactly in that camp.
I also dont see a gold standard as the panacea for much, but im really undecided about that. It appeals to libertarians because it supposedly forces the government to be fiscally responsible. Unfortunately it hasn't stopped them from inflating in the past, even if it has been applied in various forms. Most likely because the mechanics of inflation and deflation tend to be very little-understood by the masses, so building populist rage against such a thing can be tough.
Keep in mind, many Ron Paul supporters are young (which is good), and are only beginning to build a solid knowledge base when it comes to economic issues. Personally, I don't know many people who would disagree with the comments I made above if they have seriously looked into their beliefs.
From their point of view, Fractional Reserve Lending, at least in the way it is practiced in our current society, makes the banking industry an illegitimate industry.
Its sorcery to most. Dont be so hard on people.
money is simply a medium of exchange. and, i don't want to go into a history of money, other than to say that the power to issue the medium of exchange (whether gold, silver, or paper) has been abused for centuries. and that abuse of power creates crises of confidence over the currency at issue, which can create serious consequences for the people holding that currency.
there is a serious problem when there is the ability to print paper money without having to increase the inventory of whatever is underlying that paper money. how do you really increase your "inventory" or confidence in the full faith and credit of the issuer, especially under the current circumstances? even though any system is prone to abuse, and the gold standard also had its share of abuses, a good system requires a corresponding increase of a real asset in which people trust and know cannot be virtually manufactured. i don't pretend to know the solution for this problem, and i don't think there are any perfect solutions. we can never underestimate human nature when it comes to dealing with money.
although, i like the ideas of Dr. Brenner of McGill:
"What matters is to have an agreed-upon unit of account in terms of which trading partners could price every contractual agreement, preferably having the medium of exchange serve as the unit of account, too. This anchor is missing in the international monetary system today, and is one reason for the financial havoc surrounding us...What we need is accountability, not perfection. With the proper anchor, central banks can sustain a stable value for their currency, and that is what they must be held accountable for. If they do that, even if financial institutions experiment with a wide range of innovations they cannot expand credit too much.
Crises bring us back to the basics. There is prosperity when talent is matched with capital and everyone can measure in a predictable unit of account. Stable currencies bring about long-lasting, wealth-creating employment. The destruction of wealth by debasing currencies occasionally "creates" employment (with people being forced to accept lower-paying second and third jobs) but it signals poverty, not prosperity."
http://online.wsj.com/article/SB120579622849343477.html?mod=opinion_main...
http://en.wikipedia.org/wiki/Reuven_Brenner
Hedge,
Your position is close to mine as well. Ron Paul is perhaps one of few in Congress that are of the Austrian school of economics, and its worthwhile to note that for the last decade the Austrians have generally managed a fairly impressive prognostication record. While I think it would be a mistake to let Ron Paul anywhere closer to the reins of power than he already is, at the same time it's a mistake to dismiss his message out of hand simply for being controversial.
I voted for Obama, even though I had some misgivings given his obvious connection to the University of Chicago School of Economics. There's too much of Milton Friedman that permeates its current alumni, and it was rather disheartening how quickly Obama fell into an economic policy that seems to have combined the worst aspects of Keynesianism with Friedman's increasingly discredited philosophies. Fiscal stimulus was, and is, necessary, to get us out of this recession, but only if that stimulus is geared towards preparing for a transition to a new form of economy. TARP and the increasingly egregious back-door propping up of Goldman et al. is doing nothing but letting the wealthiest tidy up their books and get the hell of Dodge before the s**t hits the fan.
People like Paul on the right and Kucinich on the left are canaries in the coal mine - they're too idealistic to ever really be effective at governing, but that also means they are probably least corrupted by the process, have the least to lose by claiming the emperor has no clothes, and as such may very well end up being the moral centers for Congress.
Well said,
Although I disagree with your stance on fiscal stimulus, especially when covering our deficit is in the hands of foreign investors who are increasingly finding reasons to question the USD reserve currency status, I agree with much of what you said.
Keynesianism is an interesting animal, because the counter-cyclical approach that it is supposed to utilize is not what is used in practice. I believe the notion is, during good times, the government should tax more and build a surplus, so that when a recession hits, we can afford fiscal stimulus. This is not the way it tends to work because the government almost always refuses to cut spending, even during good times. Promoting deficit spending in a potentially destructive geo-economic position is the last thing I believe we should be doing.
Thats a story for another day, though.
As for Ron Paul, I deeply respect the man, along with Kucinich. Sadly he is 72 years old and only so much can be expected of him. His real utility is in waking people up to the shenanigans all around us.
I cannot believe that this has turned into a political debate.
Either you are for the Fed or you are against it... Either you want the Fed audited or you do not..
This is not about personalties it is about the US Constitutions and the US Economy, which by the way affects the world.
The world is watching, so wake up america ..
I think it's a shame to see so much Ron Paul bashing in a forum that attracts many obviously thoughtful people. It's interesting to me that someone whose main argument is that the government should not interfere in our lives is "bat shit crazy." I guess the people who support the following are NOT bat shit crazy: the Patriot Act (most members of both parties in both houses of Congress and presumably the people who vote/d for them), ceding sole authority to one person, the president, to go to war without a declaration of war (again, most member of both...), the War on Drugs (again, most member of both...), etc.
One argument for Paul being bat shit crazy is that he has supporters who are bat shit crazy--the old guilt by association argument. Does that really need to be refuted? Is that argument really taken seriously by thoughtful individuals? What's really interesting here is that people who are worried that the government might not have their best interest at heart are apparently all considered bat shit crazy, despite the fact that there is much historical evidence that the government is a direct threat to its citizens--concentration camps for Japanese-Americans, conscripting soldiers to fight in Vietnam, jailing thousands of people for smoking a plant, etc.
Another argument is that Paul is bat shit crazy because he doesn't believe in more regulation. This argument is often made by people who have very little understanding of how regulatory agencies are established and who writes the regulations. There is also an implied premise in the regulation argument that regulators and "public servants" are motivated by different incentives than the rest of us. I guess the idea is that these people just want to do what is best for the "public good" (whatever that is) and are somehow able to rise above greed. Now that seems like a bat shit crazy idea to me. This argument also ignores the problems that regulation can cause: 1) cost for establishing the regulatory bodies, 2) cost for overseeing these bodies (not to mention the fact that these costs must be paid for by taxes [theft] the collection of which spawns a whole other array of collection and enforcement agencies), 3) corruption/graft, 4) allowing big business to eliminate competition from the small players or those who want to enter the market, 5) ETC.
I reckon I just don't quite understand how Paul is the one who is bat shit crazy.
It is not THE government. It is our government. You and I and even batshit crazy types like chumbawamba, comprise government. So does everyone else American on this website. And everyone else American who's not reading this website.
So you say government cannot be trusted and is inept. OK. Question: Do you plan on repaving the road out in front of your house? How do you figure to finance and install the underground pipes that bring the water to your property and take the sewage away.
Oh, you live in the country. You have well water and a spetic tank. Fair enough. How do you figure to maintain the power and cable lines out in front of your abode? Not just after a storm, mind you, but the normal wear and tear maintenance work that is necessary.
And what about the stop sign on your road. Or the street light. Do you plan to install a new version of either when it's necessary? How so? And how will you pay for it?
Go out to eat at all? If so, how do you plan to make sure that the staff in the back of the kitchen washes their hands, that the owner has paid his fire insurance and hired the exterminator to keep the rats out? What methods of examination and enforcement will you employ to make sure that the food is not tainted?
Need to go to the hospital or doctor's office? How do you figure to make sure that the person calling themselves a physician really has a medical degree and is not chumbawamba or one of his brood that's read the latest chemistry comic book? Same goes for the nurse? You sure that lady or man is really a registered or licensed practical type and not chumbawamba's girlfriend or boyfriend looking to make a few bucks?
Yep, government sure is inept. Especially when you forget that government is "of, by, and for the people." Called responsibility, personal in nature and devoted to your community and your nation. Did you vote in the last national election? How about state? County or parish? City, town, or village? School district? Ever been to a planning, zoning, town, village, city council, parish, county legislature, state legislature, or school board session? Or are you just too busy?
Maybe you find all of that stuff kinda boring or just too damned hard to do. Hey, you may miss an episode of American Idol or Jon and Kate Makes Me Regurgitate.
Don't worry, though. Perhaps Rick Perry really will secede from the union? Try it out. Maybe you'll enjoy anarchy? And say hello to chumbawamba.
http://www.ul.com/global/eng/pages/corporate/aboutul/
"Especially when you forget that government is of, by, and for the people."
If by "people" you are referring to the financial industry I totally agree with you.
For the record, chumbawamba sounds like a bad-ass
Everything, and I mean everything, you mentioned could be executed with more efficiency and quality by the private sector. Yet you failed to mention the things the central government was actually created for. Coining money, defending the country, regulating interstate affairs... these are the things the U.S. government is SUPPOSED to be doing. But no, they would rather micromanage every aspect of our lives and run failed banks and companies. If I had to guess I would say you've never been outside the U.S. to a socialist or communist country. And yes the U.S. government is inept, and has lost it's way, and I vote to try to change that every election, but for some odd reason the people I vote for always end up with around 1%-3% of the vote.
Why don't you give Mo Greenberg, Dick Fuld, Jimmy Coyne, John Thain, and Bernie Maddow a call and ask 'em to take over street maintenance and trash removal.
Word has it that those boys have some time on their hands.
First, you wouldn't know a socialist or a communist if one bit you in the ass at 9 a.m. on Monday morning on Main Street.
Second, why have you chosen to forget that it was the banks that came to Treasury and asked one of their own, Hank Paulson, to bail them out in 2008? Or do you think that Lehman Brothers, Bear Stearns, Citigroup, AIG, and Wachovia were just sitting around boning up on the Ayn Rand?
Third, if I wanted to read the original Grover Norquist, I'd head down to D.C., slip over to a couple of prostitutes of the male variety, belt Grover upside his dome (mouth empty, of course), and tell him to give me his best Milton Friedman routine.
Fourth, think for yourself. That's not a suggestion or a request, not made out of benevolence or kindness. Instead, take your head out of your rectum and think for yourself. Yes, I know. Rush won't love you anymore. You'll be able to survive. Really, you will.
This country is in the toilet because not only do we have fools like this chump typing and mouthing the same four or five talking points, but they've now taken it down to the Palin Level and don't even understand the most basic aspects of their blind, willful efforts of regurgitation.
When someone mentions Ayn Rand, sarah Palin, and rush limbaugh in the same paragraph, I instantly know where someone leans politically.
Anyone who starts becoming partisan in an issue on auditing the fed is deliberately changing the subject.
Who could honestly say that it's better for our country to make sure we do not ever audit the fed? I guess it depends on if you are the regular people or the elite few that control this banking oligarchy form of government we have now.
I believe fractional reserve banking is fraudulent. But if we are to have it, it must be regulated and audited.
You are so full of your believes of anti-socialistic, bad communism, your own great free market and your great way of free live that you are not noticing what is happening around you.
You cling to your myth with no way to change. The rest of the world is doing quite fine, not using the US appraoch.
Private corporations will not get involved in goods for general good. Sustainable costs for a working society are approx. 50% of income (medical insurance, tax, infrastructure, unemployment insurance etc...)
Stop shopping like hell and use the money for the local general good.
on government efficiency
http://tiny.cc/eU6TT
Wow. And Chumbawamba is the bat shit crazy one? The irony is not even satisfying. You have managed to prove yourself an idiot in only took 441 words (| wc -w).
I am Chumbawamba, and I declare bravo.
"You want the truth, You cant handle the truth" For some reason Im picturing this scene!!!!!
Did Bernanke order the Code Red
The Fed, for one, is staying put at near free money and leaving intact its $1.75 trillion purchasing plan, including up to $1.45 trillion in the MBS sludge and $300 billion i
good articles http://www.bit.ly/12
Cetin Spam
The Fed, for one, is staying put at near free money and leaving intact its $1.75 trillion purchasing plan, including up to $1.45 trillion in the MBS sludge and $300 billion i
good articles http://www.bit.ly/12
All I have to say is that I have emailed my Rep several times on different issues and received a response, limp as they may have been.
My request for his position on auditing the Fed has been unanswered for about three weeks. He has an office two miles from my house. I will be there Monday morning to request a personal meeting with him.
While many people are on vacation, the attack of the shills has started: Tyler, and Marla--better step up and please counteract and dispell the idiot shills who have shown up here talking their usual lies!!!!!
A little selective editing going on here, kids? Tsk tsk tsk
This rabbit hole goes very deep.
Messrs. Grayson and Greider need to go read the constitution or recite the Pledge of Allegiance to the Flag to get a handle on our form of government: it's a REPUBLIC! (Democratically elected representatives run the government, not all those eligible to vote.) Want a change in form? Change the Constitution.
That said, the Fed does sound like a cabal, maybe even a cartel of "too big to fail" banks. What could go wrong if we just look at it and promote a vision of venal bankers to already angry citizens?
In fact it is a Constitutional Republic.
Dupe of previous post - I'll have to post more crap to practice!
go to news.google.com. Fair amount of coverage though I haven't figured out the slant. But no reason to quit pushing on the topic.
The Fed (Independent Corporation not affiliated with the U.S. Government) have been subverting our Constitution since their inception. I find it amazing that helicopter ben can say if the fed gets audited, it will tank the economy. They have already tanked it! And they will continue unless stopped by the American people.
Stop living in fear, stand up and do something.
The only wrong thing for each of us to do is nothing.
YOU - STAND UP AND DO SOMETHING!
The boot-licking scumbags posting comments that Dr. Paul is somehow wrong, are boot-licking scumbags.
Such people enjoy having their money stolen.
Such people enjoy being raped.
Mommy, make the bad mans (sic) stop!!!!! Please, mommy, make the bad mans stop!!!!!!
I wonder how other democracies like England, Scotland, Germany etc. manage their version of the Federal Reserve? Has anyone noticed how Canada and their banks have not been involved in the prime mortgage issue? Perhaps our government should borrow a page or two how their version of the Fed operates.