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Elizabeth Warren Opposes "Congressional Meddling" 'Audit The Fed' Bill

Tyler Durden's picture




 

It would appear the powers that be are getting nervous. Yesterday, Fed Governor Jerome Powell (and Fisher and Plosser) stepped up the central bank’s push against what he termed congressional efforts to extend political influence over monetary policy, calling them "misguided" and "in violent conflict with the facts." Today we have Senator Elizabeth Warren trying to sound supportive of transparency but proclaiming that she opposes Rand Paul's "Audit The Fed" Bill because it promotes "congressional meddling in the Fed’s monetary policy decisions."

Desperate to appear a huge opponent to Wall Street (and The Fed) Warren begins... (as Bloomberg reports)

while she “strongly” supports greater congressional oversight of Fed’s regulatory and supervisory responsibilities

Then retraces and hinders the efforts to bring transparency:

[Warren] opposes current version of Fed audit legislation because it promotes “congressional meddling in the Fed’s monetary policy decisions,” according to e-mailed statement from Warren office.

 

Such meddling risks “politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy”

Her full statement read:

"I strongly support and continue to press for greater congressional oversight of the Fed’s regulatory and supervisory responsibilities, and I believe the Fed’s balance sheet should be regularly audited – which the law already requires."

 

"But I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions, which risks politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy."

*  *  *

Sen. Rand Paul, R-Ky., has introduced bill, S. 264, that would require “full audit” of Fed; measure has ~30 cosponsors

The Fed is coming out swinging against Paul's Bill...

Three Federal Reserve officials criticized proposed legislation to expand congressional oversight of the central bank’s interest-rate decisions, pushing back against the bill as it is gaining attention.

 

Fed governor Jerome Powell on Monday called the bill, known to supporters as “Audit the Fed,” misguided. He said it would threaten the central bank’s independence.

 

The bill “risks inserting the Congress directly into monetary-policy decision making, reversing decades of deliberate effort by the Congress to insulate the Fed from political pressure in carrying out its day-to-day duties,” Mr. Powell said in a speech in Washington.

 

Philadelphia Fed President Charles Plosser, speaking earlier Monday on Fox Business Network, said of the bill, “To sort of second-guess and put political pressure on the Fed to make decisions…for short-term political reasons I think would be very dangerous.”

 

Dallas Fed President Richard Fisher , speaking later Monday on Fox Business Network, said that the bill is about “interfering with the making of monetary policy,” and that the central bank is already “audited out the wazoo.”

*  *  *

And more are piling in...

  • FURMAN SAYS AUDITING FEDERAL RESERVE WOULD BE `DANGEROUS'
  • FURMAN SAYS HE WOULD ADVISE OBAMA TO OPPOSE AUDITING FED
  • FURMAN SAYS FED `ENORMOUSLY TRANSPARENT'

Perhaps this sums up the opposition best...

 

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Tue, 02/10/2015 - 17:48 | 5768584 10mm
10mm's picture

She can hang out with the other hag, Bernie Sanders.  Elite dirt bags. Rot in hell.

Tue, 02/10/2015 - 17:51 | 5768600 dexter_morgan
dexter_morgan's picture

Shocking. I'm shocked. Look at my shocked face.

Like I've always said she is more dangerous than most because of her ability to be so sincere in her hypocrisy that otherwise smart people actually believe her bullshit. 

 

Tue, 02/10/2015 - 18:01 | 5768623 Itchy and Scratchy
Itchy and Scratchy's picture

Ok I relent. I see her point.

But surely she is in favor of auditing low-lifes (her) who have extorted affirmative action policy by impersonating minorities to get into schools for free that they (she) couldn''t otherwise get into even if they (she) paid & enrich themselves (herself) with 100's of thousands of dollars of tax payer granted funds into to lever themselves (her) into 1% high paying select positions & millions of dollars of assets at prestige education institutions that they (she) wouldn't have been able to gain themselves (herself)?

Tue, 02/10/2015 - 18:02 | 5768644 falak pema
falak pema's picture

AND THIS IS WHAT RAND PAUL's AUDIT is about :

http://www.marketwatch.com/story/audit-the-fed-probably-isnt-what-suppor...

IF YOU THINK THIS HAS THE MAKINGS OF A REAL MENINGFUL AUDIT YOU HAVE TO BE A TRUE NUTTY.

MARKET WATCH IS NOT A SOCIALIST RAG. Just saying...

Tue, 02/10/2015 - 18:07 | 5768660 dexter_morgan
dexter_morgan's picture

yeah.... very objective rag......get the fuck outta here with that.

Even written by one of tribe for fucks sake

Tue, 02/10/2015 - 18:11 | 5768674 falak pema
falak pema's picture

So be in denial. 

One thing that people do not understand is that the FED is not a STATE bank; its PRIVATELY OWNED by the TBTF.

If you want  to AUDIT SOMEONE AUDIT those who control it COS THAT IS WHERE THE GRAVY IS. (In carry trades and tax scams). 

But that means AUDITING JPM and the SQUID... Now DAT is what WARREN WANTS !

But see, Rand Paul would NEVER EVAH WANT THAT. He would do a PAULSON and save CITI and BOA like in 2008...

Thats the NAKED TRUTH. Rand Paul would never want the NSA audited.

 

Tue, 02/10/2015 - 18:26 | 5768756 Itchy and Scratchy
Itchy and Scratchy's picture

Just out of curiousity how naive +/or stooopid are you anyway? Who gets auditted more than financial institutions Einstein? All PRIVATELY OWNED BANKS should be audited accordingly especially the one that has the incredble power & control to create & DESTROY like it HAS most recently! Your Indian paracite heroine wants to ultimately socialize the financial system because she is a lot smarter than everyone else! She has had lots of direct experience with experts (her) who game the system!

Tue, 02/10/2015 - 18:54 | 5768884 falak pema
falak pema's picture

How the US Admin and the big banks collaborate to rape the Somalis :

http://www.theguardian.com/commentisfree/2015/feb/10/racist-cruelty-bara...

And you guys WANT TO AUDIT THE FED TO UNDERSTAND WHAT is wrong with this system? 

Hahaha, eyes wide shut! The FED is an open sewer that feeds the TBTF and dumps its debts on the rest of the world. Look where the gravy is. 

You guys are so deep in denial about how and who runs your system, it makes the world laugh and laugh if it weren't so sad and bad for all of us.

Tue, 02/10/2015 - 18:54 | 5768897 dexter_morgan
dexter_morgan's picture

All possible because of the existence of the FED.

Tue, 02/10/2015 - 18:58 | 5768911 falak pema
falak pema's picture

All possible because the TBTF run the FED and the Congress is their political instrument.

Go audit the semen of the predators not the money printer. 

Tue, 02/10/2015 - 22:35 | 5769773 buzzy_the_pirate_dog
buzzy_the_pirate_dog's picture

All possible because of a fiat currency, and zero control of the shit heads that control the printing ink.  (ok, another way of saying FED)

 

Perhaps a Jekyll Island theme park for the future slaves...to visit where it all began..the beginning of prosperity 

Tue, 02/10/2015 - 19:40 | 5769081 stvitus
stvitus's picture

To be fair, falak, the "rest of the world laugh and laugh"-ing at us is a hackneyed appeal to authority fallacy, and you should probably know that.

I'll tell you who's laughing: those that are in the upper eschelon of the pecking order around the Fed punchbowl and the clown-shoes masses who are all larded up on sports (including politics, NASCAR, and WWE among others), the name-it-and-claim-it brand of Jesus, and petty thrills, all ripe for the fleecing by the former. Bottoms up!

Tue, 02/10/2015 - 18:42 | 5768816 dexter_morgan
dexter_morgan's picture

Sounds all fucked up SO LETS JUST RESCIND THE FUCKING FEDERAL RESERVE ACT of 1913. I'm all for that, and why the fuck is it a good thing to bail out failure for fucks sake. Why reward graft, corruption, mismanagement and outright theft?

I guess what you are revealing is that you are on the receiving end of that gravy train and no fucking way you want the nozzle shut. 

Of course she would shift blame to private organizations - shes a FUCKING SOCIALIST - THE GOVERNMENT CAN DO NO WRONG IN THEIR BLIND EYES.

Audit all of the above - no problem from me except the bank are audited by several organizations already. Who audits the fed annually? And, like you say, the FED is privately owned, by theiving banksters, THEN THEY SHOULD BE CONSTANTLY audited. 

Quit being a retard already.

Tue, 02/10/2015 - 18:08 | 5768670 overmedicatedun...
overmedicatedundersexed's picture

falak you obviously don't want to understand, too close to home I guess..any audit brings light on the FED a rat infested walking crime - things could come out -somebody who wants to tell the truth might get the chance..what do YOU lose by an Audit ..we would all love hear your logic, but don't repeat it's not enough, but then you were always for moar debt to solve all the banks problems keynesian solutions just never print enough.

Tue, 02/10/2015 - 18:02 | 5768630 Billy Shears
Billy Shears's picture

DUMB BITCH! THE FED IS THE NUMBER ONE REASON THE US, AND WORLD, ECONOMY IS IN THE SHITTER, AND GETTING WORSE NO MATTER THE INDICES AVERAGES! JUST KEEP REPEATING TO REMINDING YOURSELF THAT THE FED IS IN BUSINESS TO SEE TO IT THAT THE DEBT EXPANDS FOREVER! Then ask yourself is that desirable or even remotely possible; it's called a PONZI because it is one, you idiot! Central banks, all, are extortion rackets and we got ours in 1913, although, and you know this, there had been others. Revoke their charter! But if you try they will rain hell fire on us because they own us. It will all burn to the ground before the Fed gives it up or congress (in on it, all of them) does anything (not that they can, it's a farce). Remember - "all enemies, foreign and domestic"); The Fed is an enemy in our midst and the de facto government of the United States. DISGRACEFUL, and you are a chief enabler if you thwart the audit.

Tue, 02/10/2015 - 18:02 | 5768643 bunnyswanson
bunnyswanson's picture

What a huge disappointment you are Elizabeth!  The nation has been BANKRUPTED  by this private bank and the goal has been well publicized - an intentional bankrupty and destruction of a nation's currency is an act of war, an act of treason.  Get back under your rock bitch.

Tue, 02/10/2015 - 18:04 | 5768647 dexter_morgan
dexter_morgan's picture

Seriously folks, did anyone really think a self described 'liberal' would ever tolerate opening the books on their 'golden goose' central bank?

Be serious. 

All hat, no cowgirl here.

 

Tue, 02/10/2015 - 18:14 | 5768688 Son of Captain Nemo
Son of Captain Nemo's picture

"I strongly support and continue to press for greater congressional oversight of the Fed’s regulatory and supervisory responsibilities, and I believe the Fed’s balance sheet should be regularly audited – which the law already requires."

"But I oppose the current version of this bill because it promotes congressional meddling in the Fed’s monetary policy decisions, which risks politicizing those decisions and may have dangerous implications for financial stability and the health of the global economy."

And after all we've been through and what she has witnessed first hand with the graft and corruption in the past 6 years alone?

Burn the fucking "inverted toilet building" with all of them locked in "it" to the ground!... Before it's too late!!!

Tue, 02/10/2015 - 18:14 | 5768692 Itchy and Scratchy
Itchy and Scratchy's picture

Faux-ca-hontus is nothing more than a self-interested Political Elitist Want-A-Be & has sold her soul decades ago to gain leverage & advantage! She is beyond pathetic!  

Wed, 02/11/2015 - 01:10 | 5770148 MrSteve
MrSteve's picture

The core of socialism is appropriating other people's property, cash, labor, whatever they have, to be redistributed to favored groups. Sliz just punched in on her time card with this pronouncement...Of course she's happy with the Fed's plundering and rewarding.

Tue, 02/10/2015 - 18:26 | 5768722 Heavy
Heavy's picture

I'd been waiting for her to turn obvious shill

She's like: Look here, money dictates politics, not the other way around.  Bankers rule here!

Monetary system is fully corrupted, we need to start over completely.  Burn the building to the ground like a century old highly-infectious disease hospital that has too much dried puss and muck caked on it to ever be useful for anything ever again. 

 

Tue, 02/10/2015 - 18:31 | 5768785 Downtoolong
Downtoolong's picture

The Fed, Too Big To Be Seen

Tue, 02/10/2015 - 18:40 | 5768833 TheABaum
TheABaum's picture

So she only supports some Congressional meddling. Oh well, the Fed doesn't have publicly traded stock for her to front-run.

She should be on anti-schiziphrenic meds.

 

 

Tue, 02/10/2015 - 18:41 | 5768835 LetsGetPhysical
LetsGetPhysical's picture

Not surprised. She's a slimy statist. And for the last time: we don't need an "independent" FED. We need INDEPENDENCE from the FED.

Tue, 02/10/2015 - 18:42 | 5768840 Coldfire
Coldfire's picture

I am shocked at this fascist and goddamned racketeer. Shocked.

Tue, 02/10/2015 - 18:44 | 5768851 Downtoolong
Downtoolong's picture

“Dangerous implications for financial stability”

As in “Can you imagine how pissed off Merkel will  be if she ever finds out JPM leased most of Germany’s gold to Greece”.

Tue, 02/10/2015 - 18:47 | 5768866 dexter_morgan
dexter_morgan's picture

Lets face it - what this is about is the Federal Reserve Bank has become THE tool to funnel money from the middle and lower classes to the .01% crowd. And a lot of people not in that small club have benefited greatly by it and happen to be the power brokers of the world, so to do anything to jeopardize that legalized theft is going to fought against tooth and nail. 

Who has read Paul's bill? I doubt it is perfect, but either way there can be NO TRANSPARENCY about the FED. Transparency of what they have done/are doing is the stuff armed revolutions are made of.

Tue, 02/10/2015 - 18:47 | 5768867 mydogisprettier...
mydogisprettierthanyou's picture

I haven't commented in months but felt like this topic warranted one.

if you think this bill will pass or a truthful audit would be released, just see "NDAA".

Tue, 02/10/2015 - 19:45 | 5769099 JR
JR's picture

It’s time to pile on them, mydogisprettier, while the destruction is happening. We have a chance to take out these people who dominate us in a once-in-a-century opportunity. The Greek people didn’t elect Tsipras; they elected a message. Western civilization began in ancient Greece; hopefully, revival begins in modern Greece.

This is not recovery; this is not monetary policy; this is destruction. A few men bent on washing out the achievements of mankind through central thieving isn’t something that can continue. The EU has a problem on its hands, and so do Elizabeth Warren and her ilk – the U.S. Congress. It’s called collapse and the ire of the people.
Tue, 02/10/2015 - 19:02 | 5768899 piratepiet
piratepiet's picture

the Federal Reserve is not federal ( it is private ).  Is it a reserve ?

Tue, 02/10/2015 - 19:00 | 5768920 PGR88
PGR88's picture

Fuckahontas. Or is it Fauxcahontas?

 

Leftist and so-called Progressives KNOW that debt monetization, manipulated interest rates and fiat currency are the basis of the Progressive State.   The nanny state can not exist without them.

Tue, 02/10/2015 - 22:55 | 5769829 thebigunit
thebigunit's picture

A good, concise sound byte.

Now, if voters could just grasp what "debt monetization" means.

Tue, 02/10/2015 - 19:14 | 5768973 Soul Glow
Soul Glow's picture

Fuck Liz Warren.

Tue, 02/10/2015 - 20:33 | 5769278 dreadnaught
dreadnaught's picture

Hillary is down the shitter.....now Elizabeth?  Is this Fed induced nonsense or does she really mean it?

Tue, 02/10/2015 - 19:22 | 5769005 JR
JR's picture

“On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON.”

McFadden not only warned the American people that this cartel of international bankers, the Fed, had usurped the people’s representative political power without their knowledge or consent,  but he charged the Fed with “the crime of having treasonable conspired and acted against the peace and security of the U.S. and with having treasonable conspired to destroy constitutional Government in the U.S.

The final results of this treasonous grab for private global control has brought this nation to destruction, economically and spiritually, until today more and more once-free Americans are living under the old system of chattel slavery.

Congressman McFadden subsequently suffered two attacks against his life and died on October 3, 1936, from a "heart-failure sudden-death" after  a "dose" of "intestinal flu,"

Here are a few excerpts from McFadden’s 1933 charges against the Fed linked above by sam site:

"The Fed became law the day before Christmas Eve, in the year 1913, and shortly afterwards, the German International bankers, Kuhn, Loeb and Co. sent one of their partners here to run it. …

"In defiance of …warnings, the proponents of the Fed created the 12 private credit corporations and gave them an absolute monopoly of the currency of these United States- not of the Fed Notes alone- but of all other currency! The Fed Act providing ways and means by which the gold and general currency in the hands of the American people could be obtained by the Fed in exchange for Fed Notes- which are not money- but mere promises to pay.

… "If you like to have paper money- which is secured by such commodities- you have it in Fed Note. If you desire to obtain the thing of value upon which this paper currency is based, that is, the limburger cheese, the whiskey, the illicit drugs, or any of the other staples- you will have a very hard time finding them.

"Many of these worshipful commodities are in foreign Countries. Are you going to Germany to inspect her warehouses to see if the specified things of value are there? I think more, I do not think that you would find them there if you did go. ...

… "Mr. Speaker, on the 13th of January of this year I addressed the House on the subject of the Reconstruction Finance Corporation. In the course of my remarks I made the following statement: In 1928 the member banks of the Fed borrowed $60,598,690,000. from the Fed on their fifteen-day promissory notes. Think of it. Sixty billion dollars payable on demand in gold in the course of one single year. The actual amount of such obligations called for six times as much monetary gold as there is in the world. Such transactions represent a grant in the course of one single years of about $7,000,000 to every member of the Fed.

"Is it any wonder that American labor which ultimately pays the cost of all banking operations of this Country has at last proved unequal to the task of supplying this huge total of cash and credit for the benefit of the stock market manipulators and foreign swindlers?

“In 1929, the year of the stock market crash, the Fed advanced $58,000,000,000 to member banks.

"In 1930 while the speculating banks were getting out of the stock market at the expense of the general public, the Fed advanced them $13,022,782,000. This shows that when the banks were gambling on the public credit of these United States as represented by the Fed currency they were subsidized to any amount they required by the Fed. When the swindle began to fall, the bankers knew it in advance and withdrew from the market. They got out with whole skins- and left the people of these United States to pay the piper. ...

They prefer to subsidize their favorite banks by making them $60,000,000,000 advances and they prefer to acquire assistance in the notorious open discount market in New York, where they can use it to control the price of stocks and bonds on the exchanges.

"For every dollar they advanced on discounts in 1928, they lent $33.00 to their favorite banks for whom they do a business of several billion dollars income tax on their profits to these United States.

The John Law Swindle

"This is the John Law swindle over again. The theft of Teapot Dome was trifling compared to it. What King ever robbed his subject to such an extent as the Fed has robbed us? Is it any wonder that there have been lately ninety cases of starvation in one of the New York hospitals? Is there any wonder that the children are being abandoned?

"The government and the people of these United States have been swindled by swindlers deluxe to whom the acquisition of American or a parcel of Fed Notes presented no more difficulty than the drawing up of a worthless acceptance in a Country not subject to the laws of these United States, by sharpers not subject to the jurisdiction of these United States, sharpers with a strong banking ‘fence’ on this side of the water, a ‘fence’ acting as a receiver of a worthless paper coming from abroad, endorsing it and getting the currency out of the Fed for it as quickly as possible exchanging that currency for gold and in turn transmitting the gold to its foreign confederate.

… "Are you going to let these thieves get off scot free? Is there one law for the looter who drives up to the door of the United States Treasury in his limousine and another for the United States Veterans who are sleeping on the floor of a dilapidated house on the outskirts of Washington?

"The Baltimore and Ohio Railroad is here asking for a large loan from the people
, and the wage earners and the taxpayers of these United States. It is begging for a handout from the Government. It is standing, cap in hand, at the door of the R.F.C. where all the jackals have gathered to the feast. It is asking for money that was raised from the people by taxation and wants this money of the poor for the benefit of Kuhn, Loeb and Co., the German International Bankers. …

"The Fed lately conducted an anti-hoarding campaign here. They took that extra money which they had persuaded the American people to put into the banks- they sent it to Europe- along with the rest. In the last several months, they have sent $1,300,000,000 in gold to their foreign employers, their foreign masters, and every dollar of that gold belonged to the people of these United States and was unlawfully taken from them....

"Mr. Chairman, last December, I introduced a resolution here asking for an examination and an audit of the Fed and all related matters. If the House sees fit to make such an investigation, the people of these United States will obtain information of great value. This is a Government of the people, by the people, for the people. Consequently, nothing should be concealed from the people. The man who deceives the people is a traitor to these United States.

"The man who knows or suspects that a crime has been committed and who conceals and covers up that crime is an accessory to it. Mr. Speaker, it is a monstrous thing for this great nation of people to have its destinies presided over by a traitorous government board acting in secret concert with international usurers.

"Every effort has been made by the Fed to conceal its powers- but the truth is- the Fed has usurped the Government. It controls everything here and it controls all of our foreign relations. It makes and breaks governments at will.

"No man and no body of men is more entrenched in power than the arrogant credit monopoly which operated the Fed. What National Government has permitted the Fed to steal from the people should now be restored to the people. The people have a valid claim against the Fed. If that claim is enforced the Americans will not need to stand in the bread line, or to suffer and die of starvation in the streets. Women will be saved, families will be kept together, and American children will not be dispersed and abandoned.

"Here is a Fed Note. Immense numbers of the notes are now held abroad. I am told that they amount to upwards of a billion dollars. They constitute a claim against our Government and likewise a claim against our peoples' money to the extent of $1,300,000,000 which has within the last few months been shipped abroad to redeem Fed Notes and to pay other gambling debts of the traitorous Fed. The greater part of our money stock has been shipped to other lands.

"Why should we promise to pay the debts of foreigners to foreigners? Why should the Fed be permitted to finance our competitors in all parts of the world? Do you know why the tariff was raised? It was raised to shut out the flood of Fed Goods pouring in here from every quarter of the globe- cheap goods, produced by cheaply paid foreign labor, on unlimited supplies of money and credit sent out of this Country by the dishonest and unscrupulous Fed.

"The Fed are spending $100,000,000 a week buying government securities in the open market and are making a great bid for foreign business. They are trying to make rates so attractive that the human hair merchants and the distillers and other business entities in foreign land will come here and hire more of the public credit of the United States Government to pay the Fed outfit for getting it for them

 World Enslavement Planned

"Mr. Chairman, when the Fed was passed, the people of these United States did not perceive that a world system was being set up here which would make the savings of the American school teacher available to a narcotic-drug vendor in Acapulco. They did not perceive that these United States was to be lowered to the position of a coolie country which has nothing but raw material and heart, that Russia was destined to supply the man power and that this country was to supply the financial power to an "international superstate". A superstate controlled by international bankers, and international industrialists acting together to enslave the world for their own pleasure?

"The people of these United States are being greatly wronged. They have been driven from their employments. They have been dispossessed from their homes. They have been evicted from their rented quarters. They have lost their children. They have been left to suffer and die for lack of shelter, food, clothing and medicine.

"The wealth of these United States and the working capital have been taken away from them and has either been locked in the vaults of certain banks and the great corporations or exported to foreign countries for the benefit of the foreign customers of these banks and corporations. So far as the people of the United States are concerned, the cupboard is bare.

"It is true that the warehouses and coal yards and grain elevators are full, but these are padlocked, and the great banks and corporations hold the keys.

"The sack of these United States by the Fed is the greatest crime in history.

http://www.afn.org/~govern/mcfadden.html

And that is just a brief recount of a small sampling of Fed crimes through May 1933. Elizabeth Warren apparently has no further curiousity as to what the Fed has been doing hence in its quest to maintain "the health of the global economy."

Tue, 02/10/2015 - 23:33 | 5769941 Blood Spattered...
Blood Spattered Banner's picture

Amazing post.  The crimes of central banking are so universal and consistent that this speech could have been written yesterday. 

Wed, 02/11/2015 - 10:44 | 5770957 falak pema
falak pema's picture

What does this amazing post prove ?

That the FED is a PRIVATELY OWNED shell of the American Oligarchy (Jew and Gentile--the latter being  : Rockafella, Morgan, Harriman, Mellon, Ford, Roosevelts, Bushes, and all those other scions like Hearst and Texas Oilmen from spindletop-- those who made WS their own private game along with bootlegging and selling guns to all and sundry) had already started to SKIM the wealth of the working and middle class entrepreneur off the top of the MARKET.

US market Bubble in a world where Europe was demolished. The Gatsby years. 

So, what is the key to this ongoing 100 year old game :  to audit an EMPTY shell or to AUDIT a power cabal and its RECURRENT, ongoing -- DNA ingrained-- process of pilfering wealth, which has been repeated in the NWO halcyon years hyped up to many orders of magnitude worse since ZIRP/Gl-Steagall revoke?

ANy Audit of FED by a dishonest and complcit Congress run by the Oligarchs and their henchmen like the Repugs will be JUST SMOKE n MIRRORS.

The first thing an HONEST Congress should do is declare the FED a National bank OWNED by the Treasury and change the STATUTES of the FED. But that is not on the agenda. Cut the link to the TBTF would be a REAL revolution that NOBODY DARE DO! As that would demolish the wealth of the incumbent class.

In the meantime, in this foxes' den of Congress, Warren wants to curb the Casino and audit the TBTF (the real culprits not their Shell) and re-install Glass-Steagall, by due process of bipartisan law out in the OPEN.

That SHOULD BE the more "non political" and consensual first step.

Who  the PHUCK supports that on the Repug aisle ?

Tue, 02/10/2015 - 19:23 | 5769008 thetruthhurts
thetruthhurts's picture

Elizabeth needs to bend over and take it like the squaw she pretends to be.....

Tue, 02/10/2015 - 19:26 | 5769029 freakscene
freakscene's picture

Elizabeth Warren is a moon bat.

That the political left adores her, seems about right

Tue, 02/10/2015 - 19:45 | 5769104 Manipuflation
Manipuflation's picture

Yeah, well they should be getting nervous.  You have people like me running around with no debt and tons of guns and ammo, packed up with all sorts of PMs, and almost left with no titled assets.  You might want to take notice.  There you go you bankster fucks.  Now what are you banksters going to do?  You fucking banksters wanted a go around with me?

I think we should sue the federal government, sue the federal reserve and for good measure sue the courts all for breach of contract and/or breach of fiduciary contract.  Sue the IRS and Lois Lerner because she lost her computer.  We could sue the CME for that matter because what the hell is going on there?  Sue the SEC for not paying any attention.  I can think of many more and so can all of you.

They should be NERVOUS because hell is coming.  Never back down.                   

Tue, 02/10/2015 - 19:46 | 5769106 Itchy and Scratchy
Itchy and Scratchy's picture

Just figured it out! Ol' Princess Squating Bull must think the 'Federal Reserve' is a sanctioned minority 'Reserve' &  she does not think her 'people' should ever be audited!

Tue, 02/10/2015 - 20:35 | 5769285 BolshevikPartyP...
BolshevikPartyPlanningCommitee's picture

According to the Yiddish Reserve officials, it appears that S 264 is an anti-semetic bill....

Tue, 02/10/2015 - 20:40 | 5769303 Fix It Again Timmy
Fix It Again Timmy's picture

Drum Roll!......FU 'LIZA the Lizard! What a stinking piece of dog shit, she is.....

Tue, 02/10/2015 - 20:52 | 5769352 JR
JR's picture

Perhaps this is the first sign that Elizabeth Warren will go to Iowa to take on Hillary Clinton and seek the presidency. The reason:

Senator Warren, who previously has criticized the bankers, has apparently just heard from the owners of the Federal Reserve and, thus, her powerful Zionist stand, second only to Netanyahu in the support for the expansion of Israel. The last straw would be her support for Rand Paul’s bill to the Jewish families that control the Fed and their worries about a changing foreign policy that would harm Israel. In short, support for the Rand Paul bill would completely destroy Warren's chance to run for president.

 All she needs, if this is true, is for Big Money to start transferring from Hillary to those radicals who have been begging Elizabeth Warren to run for president.

And speaking of the senators who oppose the Fed in rhetoric only, how about that quip today from Bernie Sanders (Jewish) that perhaps the United States could step in with financing for Greece. Talk about an insider and a player. And, by the way, another possible presidential candidate.

Warren and Sanders may be long shots now but fate has a way of changing things and a wounded Hillary would transform the Democrat scenario.

Wed, 02/11/2015 - 00:57 | 5770121 debunker
debunker's picture

here come da jew-blamers. raise yourselves with pride haters and in 3, 2, 1.... go bitchez!

Wed, 02/11/2015 - 06:08 | 5770403 Baby Eating Dingo22
Baby Eating Dingo22's picture

That's exactly what this is

She's moderating her tone to keep the financing open while also attacking a rival

She can't agree with Rand and run against him, so she needs to tailor and distinguish her mesage from his

Tue, 02/10/2015 - 21:07 | 5769401 TrustbutVerify
TrustbutVerify's picture

Elizabeth Warren is anti-transparency. 

Tue, 02/10/2015 - 22:17 | 5769687 Grouchy Marx
Grouchy Marx's picture

Why should a woman who has built her professional career on lies suddenly become a cheerleader for transparency? 

Her comment re the Fed is predictable. 

Tue, 02/10/2015 - 22:46 | 5769804 thebigunit
thebigunit's picture

So, Pocahontas is for "strong oversight", but just doesn't want it to mean anything so no one is embarrassed or has to change what they're doing.

This is talking out of both sides of her mouth, and it's a very, very wide mouth.

 

 

 

Tue, 02/10/2015 - 23:24 | 5769913 Elliptico
Elliptico's picture

Don't go there.  For all that is decent and pure, don't go there, please, I beg you. - E. Warren.

Tue, 02/10/2015 - 23:26 | 5769921 MeelionDollerBogus
MeelionDollerBogus's picture

Yup, Fauxohantas knows who delivers champagne to her teepee.

No one should be surprised.

Tue, 02/10/2015 - 23:39 | 5769963 Blood Spattered...
Blood Spattered Banner's picture

Warren is the next sacrificial lamb for the "liberals".  She talks tough, but is just as dependent on status quo as Blankfein or Dimon.

Little known fact about Lizzie:  As a Harvard econ. professor, she was tapped to administer the $750b with TARP.  Thanks to her hard-nosed scrutiny, she kept the US taxpayer bill under a trillion, so these blood-sucking parasites could keep their bonuses.

Tue, 02/10/2015 - 23:41 | 5769965 Paracelsus
Paracelsus's picture

Sad,surprised and disappointed.She should know her law..

Other countries have transitioned to a new currency. Weimar Germany,Rentenmark,etc.

It is difficult,but the point is it can be done.Schacht,head of the ReichsBank until

1936,was indicted and cleared at the Nuremburg Trials. He refused Hitlers' demands to

water down the currency to fund the huge defence programs.

I don't blame Nixon for going off the Gold standard in  '72.Wasn't his fault he inherited 

 a mess,war,inflation,welfare state.

Perhaps she was bribed with the VP slot.Time will tell.

She had a moment in history.She could've put her foot down.Instead she put it right

in her mouth.This is certainly a moment for me.Rand Paul who I can't stand puts up 

legislation (a trial balloon?) which was decades overdue,only to criticized by

Ms. Warren,who I like.Go figure...

As everyone says here,"If it isn't in your hand,you don't own it".

After the Germans "changed" their minds about the gold repatriation,stretched out 

the timeline,I feel something very fishy is going on at the FED.

I think every bar has been leased out or rehypothecated several hundred times.

Also,nobody ever mentions the suspicious value of eighty bucks to an ounce.

This is major BS and everyone knows it.

I agree that the system is beyond reform.The Fed Reserve Act should be scrapped.

It has been a disaster for the USA.

 

Tue, 02/10/2015 - 23:51 | 5769988 mijev
mijev's picture

Oh how I wish Edward Snowden had been a contractor at the Fed instead of the NSGay.

Wed, 02/11/2015 - 00:15 | 5770046 J Mahoney
J Mahoney's picture

When you see her on TV giving an interview, you wish she would run for president---but---after you learn more, you feel like a dummy.

This is the same woman who said “There is nobody in this country who got rich on his own. Nobody.” WASNT THERE SOME OTHER DUM FUK DEMOCRAT THAT SAID SOMETHING LIKE THAT--"YOU DIDNT BUILD THAT"

This is the same woman who said, “Republicans believe this country should work for those who are rich, those who are powerful, those who can hire armies of lobbyists and lawyers.” WELL BABY, TIME TO WALK THE WALK YOURSELF OR STFU

Just a typical two-faced politician, nothing to get excited about.

Wed, 02/11/2015 - 00:17 | 5770050 pupdog1
pupdog1's picture

Wow. She whored out awfully fast.

Wed, 02/11/2015 - 01:18 | 5770093 Dre4dwolf
Dre4dwolf's picture

politicians get payed to pimp out their respective nations.

 

The entire point of becoming a politician is to pimp out your country and get rich.

Wed, 02/11/2015 - 13:38 | 5772040 No More Bubbles
No More Bubbles's picture

No, she always was a whore, just pretended to be a good girl.  Get it?

Wed, 02/11/2015 - 00:43 | 5770099 Elliptico
Elliptico's picture

Don't look, don't tell.

Wed, 02/11/2015 - 01:24 | 5770159 Government need...
Government needs you to pay taxes's picture

Dallas Fed President Richard Fisher , speaking later Monday on Fox Business Network, said that the bill is about “interfering with the making of money by the ruling class, who rule by divine right”

 

Fixed it for you.

Wed, 02/11/2015 - 01:24 | 5770160 ClowardPiven2016
ClowardPiven2016's picture

Of course they can't be audited...if the general public had a clue, the Fed would have a much harder time making billionaires out of millionaires.

Wed, 02/11/2015 - 02:01 | 5770209 SweetDoug
SweetDoug's picture

'

'

'

Rand Paul better be checking the brakes on his car when drives back to Kentucky going through the Smokies.

 

•?•
V-V

Wed, 02/11/2015 - 02:08 | 5770222 Peltast
Peltast's picture

Sucking to the Jews won't save him.

Wed, 02/11/2015 - 02:08 | 5770220 JoJoJo
JoJoJo's picture

Let me display my outrage to squaw Elizahontas in her native tongue: You heap big fork tonguer say you want to protect and smoke peace pipe with American consumer. But you throw hatchet at and scalp people who want to investigate white mans Federal Reserve which supplies you with phoney wampum fiat. 

Wed, 02/11/2015 - 02:39 | 5770254 Victor999
Victor999's picture

Elizabeth Warren has now shown her true colours.  She turns out to be a Jewish banker ringer.  What a disappointment to the people of the USA whose country has been annexed by globalist bankers and transformed in the last two decades into the real Evil Empire.  Only a couple of congressmen remain who could be considered American patriots as opposed to Israeli patriots.  And those few have been marginalised.  Good luck, America.  You are going to need it.

Wed, 02/11/2015 - 04:12 | 5770270 QE49er
QE49er's picture

.

Wed, 02/11/2015 - 04:05 | 5770326 Panic Mode
Panic Mode's picture

Either her eyes are full of dollar sign or she is afraid of unexplained sudden death. 

 

Wed, 02/11/2015 - 04:28 | 5770356 CHX
CHX's picture

Probably a bit of both. Accept the $$$ and avoid the latter. A "win-win" for her.

Wed, 02/11/2015 - 04:08 | 5770330 dinkum
dinkum's picture

"The Corporation" movie is sort of a bible for populist progressives. It advocates replacing the Federal Reserve System's Board of Governors and Official Staff with pop progressives. Then they want to reform US banking system by replacing its management with pop progressives. 

ASAP means of production and private real and personal property needs to be transferred from private ownership. 

Last thing Warren should do to accomplish the overthrow is to advocate for an audit of the Fed before she is elected President. She needs time to appoint her nomenklatura in key positions. Goals are to eliminate income inequality and climate change.  

 

Wed, 02/11/2015 - 07:24 | 5770451 Accounting101
Accounting101's picture

Populist Progressives! Is that a shiny new version of a socialist, Maoist, communist, Stalinist, Bolshevik, etc.???? These useless labels are fun, and I'm sure by calling each other names, it will stop the bailouts (ins) which socialize corporate and financial services industry debt.

Wed, 02/11/2015 - 14:07 | 5772184 dinkum
dinkum's picture

http://www.sparknotes.com/history/american/gildedage/section6.rhtml

Accounting 101, the link above re the 19th Century populist movement in the US is far from accurate, but it might help you understand the origins of the Federal Reserve System. Do read about the Progressive presidents, namely Woodrow Wilson's "Make the World Safe for Democracy" slogan sums up what many call the Hundred Years War -- 1914 to 2015. 

Those who did not understand Elizabeth Warren until now likely have no idea what Bruce Krasting and many other ZH contributors write about

  • fund accounting 
  • inability to perform cost benefit analyses of underfunded and unfunded federal mandates 
  • that create technical defaults of states, counties and local governments bonds and 
  • prevent reasonable forecasts of tax revenues used in estimating available outflows in their budgets.  

You seem to have the purpose of the bailouts upside down. They are primarily, not always, used to prop up unhealthy companies to make competitors inefficient and non-competitive that are healthy, job creating, positive cash flow companies.

 

Wed, 02/11/2015 - 04:16 | 5770347 cwwang
cwwang's picture

understanding the truth == risking potential economic problem for domestic and the world.  we should all just ignore the facts and live in this bubble and pretend nothing is happening.  move on there is nothing to see here....

Wed, 02/11/2015 - 04:30 | 5770355 CHX
CHX's picture

Even EW... talks the talk, but when it gets serious... about-face.

Wed, 02/11/2015 - 05:40 | 5770395 sTls7
sTls7's picture

Turncoat, pure and simple.

Wed, 02/11/2015 - 08:17 | 5770486 Pumpkin
Pumpkin's picture
"Congressional Meddling?"

 

Yeah, the beast gets angry when told what to do.

Wed, 02/11/2015 - 08:18 | 5770487 Creepy A. Cracker
Creepy A. Cracker's picture

Fake Indian Warren is against investigating anything that impedes leftist power.  Especially false claims of racial identity.

Wed, 02/11/2015 - 08:23 | 5770501 Jonesy
Jonesy's picture

The only thing an audit can wreck is a criminal enterprise.

Wed, 02/11/2015 - 08:32 | 5770513 polo007
polo007's picture

http://in.reuters.com/article/2015/02/11/usa-fed-employment-idINKBN0LF0AF20150211

Shifting goal posts on employment may signal slower Fed rate hikes

(Reuters) - Federal Reserve officials are debating a historic shift in one of its core economic gauges that could lead the central bank to move even slower than now thought once it lifts its rates from rock bottom levels.

According to interviews with half a dozen current and former Fed policymakers and staff, the concept that the economy can produce far lower levels of unemployment without stoking inflation is being built into Fed models and becoming increasingly entrenched in the central bank's views.

That shift may not delay the timing of the Fed's first rate increase, still expected in mid-year. But it does offer Chair Janet Yellen a good reason to move at a snail’s pace from then on to bring as many people as possible back to work and to push inflation back up to the Fed's 2-percent target.

Fed policymakers' December projections show most expect the Fed's benchmark rate to rise to 2.5 percent or above by the end of 2016 from the 0-0.25 percent range now.

On Monday, Fed governor Jerome Powell became the latest of policymakers to suggest the "natural" rate of unemployment, also referred to as a level of full employment, had fallen.

"Maybe the natural rate is lower...That it is five (percent) or even lower," Powell said. That would be significantly below current unemployment rate of 5.7 percent and the 5.2 percent to 5.5 percent range Fed officials have recently estimated as the level of unemployment at which inflation is likely to increase.

LOWER DESTINATION

Atlanta Fed President Dennis Lockhart said the question of the true level of full employment will come into focus when the Fed will have to decide whether to allow unemployment to drift to unusually low levels to push inflation towards its target.

“I am quite open to the idea that the destination we are trying to get to is lower than we have cited in the past,” he said on Friday.

The chiefs of the Boston Fed and the Minneapolis Fed have also said they are considering lowering their estimates, as did several staff at other Fed branches who declined to be quoted, in line with the central bank's policy for briefing the media.

For months, Fed policymakers have been puzzling over how the accelerating economy kept adding jobs but failed to spur wage and price increases that would cement the recovery and allow them to wind-down crisis era policies.

Now, there is growing sense that the point where the job market tightens enough to start pushing up wages and prices may be further away than earlier thought.

The U.S. central bank has no official target for full employment - generally expressed as the unemployment rate that is consistent with stable prices. But accurately estimating it is critical for the Fed, given its mandate is to safeguard economic conditions that allow maximum employment consistent with stable prices that the bank defines as 2 percent inflation.

Since the 1960s estimates of that "natural rate of unemployment" have averaged 6.3 percent, according to data published quarterly as part of the Fed's main economic model.

Beginning in 2013, however, its staff has been marking that rate down, from 5.6 percent to 5 percent by late last year. That may lead regional Fed presidents and board members to cut their quarterly estimates due next month.

Research at several Fed banks, both published and unpublished, puts the estimate as low as 4.7 percent.

Wed, 02/11/2015 - 08:51 | 5770541 Quinvarius
Quinvarius's picture

Congress is responsible for the monetary system.  And it is clear they could not possibly steal as much money as the bankers did anyway.  The Fed needs to be controlled by law and scrutinized.  If it resists, it must be abolished.

Wed, 02/11/2015 - 09:46 | 5770714 fremannx
fremannx's picture

Hard to know if the Creature from Jekyll Island will survive the next financial crisis... but it's also hard to bet against them..

 

http://www.globaldeflationnews.com/the-creature-from-jekyll-island-the-e...

Wed, 02/11/2015 - 09:53 | 5770752 roadhazard
roadhazard's picture

Link?

Wed, 02/11/2015 - 10:12 | 5770893 Vin
Vin's picture

OH NO!  Can you imagine the devistation if Congress actually utilized it's authority under the Constitution to control the country's money and currency!  No, no, no.  Mustn't do that.

Wed, 02/11/2015 - 10:19 | 5770943 Zymurguy
Zymurguy's picture

I guess Jerome Powell must have never read the constitution - ya' know that small part that talks about Congress' explicit enumerated power to manage monetary policy/currency/etc.

Wed, 02/11/2015 - 10:55 | 5771116 Lanka
Lanka's picture

Congress' oversight of the FED is a joke.  They are all pre-paid whores.  Auditing the FED is a waste of time.  Simply end the FED, declare all securities held by the FED to be forfeited to an independent agency to hold/liquidate at a convenient time or declare null and void (i.e. US Treasuries), and arrest the criminal owners of the FED and all stoodges who enabled them to loot America for over a century.  Ending the FED would be deflationary (market crash, real estate crash, etc.), but we could avoid getting ass-raped by the banksters on a daily basis; and build from there.. 

Wed, 02/11/2015 - 20:26 | 5773844 AE911Truth
AE911Truth's picture

The Fed is getting nervous about this Audit the Fed bill because everybody is waking up to the fact that Debt as Mondy is the Biggest Fraud in the History of Mankind.

This fraud will end when enough people stop supporting it.

BTW: Supporting a fraud, is a crime.

Arbitration Court of International Justice (ACIJ) http://www.justice4humanity.com The Biggest Fraud In The History Of Mankind. http://www.hiddensecretsofmoney.com
Do NOT follow this link or you will be banned from the site!