Sign In
Register
Help
Start a new topic
Add Reply
The law stipulates a small portion of Federal Reserve stock may be available for sale to the public. No person or organization, however, may own more than $25,000 of such public stock and none of it carries voting rights (12 USCA 283). However, under the terms of the Federal Reserve Act, public stock was only to be sold in the event the sale of stock to member banks did not raise the minimum of $4 million of initial capital for each Federal Reserve Bank when they were organized in 1913 (12 USCA 281). Each Bank was able to raise the necessary amount through member stock sales, and no public stock was ever sold to the non-bank public. In other words, no Federal Reserve stock has ever been sold to foreigners; it has only been sold to banks which are members of the Federal Reserve System (Woodward, 1996).
Federal Reserve Transparency - Audit the Fed Are Banks Manipulating Markets
MultiQuote#42 Edward
Posted 11 August 2009 - 09:01 PM
Each commercial bank receives one vote regardless of its size, unlike most corporate voting structures in which the number of votes is tied to the number of shares a person holds (Ibid). The New York Federal Reserve district contains over 1,000 member banks, so it is highly unlikely that even the largest and most powerful banks would be able to coerce so many smaller ones to vote in a particular manner. To control the vote of a majority of member banks would mean acquiring a controlling interest in about 500 member banks of the New York district.
#43
Luke_Wilbur 
- Administrator
-
- Group: Illuminati
- Posts: 2,474
- Joined: 02-August 03
- Gender:Male
- Location:Washington, DC
- Interests:My family, DCpages, Photography, and my farm.
Posted 11 August 2009 - 09:42 PM
I wrote a letter to the President to hopefully end this debate.
I received a confirmation message:
Hopefully someone in his staff will read it.
Quote
Mr. President,
I know you are a busy man. So I will make this brief.
Can you please debunk who actually owns the Federal Reserve. People constantly contact me that the Fed is controlled by secret group of foreign class A stockholders. From what I see U.S banks own all the stock. Not foreign banks. And I see there is no one dominant bank.
I think a short note by you on this subject would really clear things up and put this issue to rest. Otherwise Hollywood and conspiracy theorist are going to define it to the public.
I know you are a busy man. So I will make this brief.
Can you please debunk who actually owns the Federal Reserve. People constantly contact me that the Fed is controlled by secret group of foreign class A stockholders. From what I see U.S banks own all the stock. Not foreign banks. And I see there is no one dominant bank.
I think a short note by you on this subject would really clear things up and put this issue to rest. Otherwise Hollywood and conspiracy theorist are going to define it to the public.
I received a confirmation message:
Quote
Thank you for contacting the White House.
President Obama is committed to creating the most open andaccessible administration in American history. That begins with takingcomments and questions from you, the public, through our website.
Our office receives tens of thousands of messages from Americanseach day. We do our best to reply to as many as we can, but please beaware that you may find more information and answers to your questionsonline.
We encourage you to visit WhiteHouse.gov regularly to follow newsand updates, and to learn more about President Obama’s agenda forchange.
For an easy-to-navigate source of information on Federal government services, please visit: www.USA.gov
Thank you again for your message.
The Office of Presidential Correspondence
http://www.whitehous...s-ThankYouPage/
President Obama is committed to creating the most open andaccessible administration in American history. That begins with takingcomments and questions from you, the public, through our website.
Our office receives tens of thousands of messages from Americanseach day. We do our best to reply to as many as we can, but please beaware that you may find more information and answers to your questionsonline.
We encourage you to visit WhiteHouse.gov regularly to follow newsand updates, and to learn more about President Obama’s agenda forchange.
For an easy-to-navigate source of information on Federal government services, please visit: www.USA.gov
Thank you again for your message.
The Office of Presidential Correspondence
http://www.whitehous...s-ThankYouPage/
Hopefully someone in his staff will read it.
One of many...
Luke Wilbur
Photo Journalist
Washington DC City Pages
This District's First Online Community
Established in 1994
Free and Open to All
Luke Wilbur
Photo Journalist
Washington DC City Pages
This District's First Online Community
Established in 1994
Free and Open to All
#44 Fedup
Posted 25 August 2009 - 05:36 AM
The Obama administration gave a vote of confidence for Ben Bernanke to be nominated for second term as Federal Reserve chairman.
Congressman Alan Grayson questioned Federal Reserve Chairman Ben Bernanke on the central bank’s loans to foreign entities. It has sparked numerous blog posts and thousands of public comments about the Federal Reserve’s authority to lend hundreds of billions to foreigners without consulting a single elected official.
Among the highlights:
•At 1:30, Chairman Bernanke can’t say which foreign entities got the money.
•At 3:19, Bernanke says that the 20% rise in the dollar which took place at the same time as the Federal Reserve lent out $500B to foreign central banks was just a “coincidence.”
•At 3:45, Bernanke and Grayson discuss whether there is a Constitutional basis for the Federal Reserve lending a half a trillion dollars to foreigners.
Congressman Grayson said, “According to the Federal Reserve’s own figures, Federal Reserve loans to foreign banks jumped from nothing in September to $550,000,000,000 at the end of 2008. These loans were authorized only by the members of the Federal Open Market Committee, a group of twelve bankers at the Federal Reserve whose deliberations are shielded from public view for five years.
“This amount is ten times the size of the entire State Department budget. Publicly elected lawmakers proposed and debated over 100 amendments to the State department budget. That’s how democracy is supposed to work -- not through secret deliberations in which 12 unelected bankers trample on Congress’s Constitutional authority to appropriate funds, approve treaties, and coin money.
“I find it hard to believe that the power to hand over the half-a-trillion dollars to foreigners was part of Congressional intent in 1913 when the Federal Reserve Act was written. If the Federal Reserve can lend a half a trillion without consulting a single elected official, it is time for a review of the central bank’s ‘swap line’ authority.
Congressman Alan Grayson questioned Federal Reserve Chairman Ben Bernanke on the central bank’s loans to foreign entities. It has sparked numerous blog posts and thousands of public comments about the Federal Reserve’s authority to lend hundreds of billions to foreigners without consulting a single elected official.
Among the highlights:
•At 1:30, Chairman Bernanke can’t say which foreign entities got the money.
•At 3:19, Bernanke says that the 20% rise in the dollar which took place at the same time as the Federal Reserve lent out $500B to foreign central banks was just a “coincidence.”
•At 3:45, Bernanke and Grayson discuss whether there is a Constitutional basis for the Federal Reserve lending a half a trillion dollars to foreigners.
Congressman Grayson said, “According to the Federal Reserve’s own figures, Federal Reserve loans to foreign banks jumped from nothing in September to $550,000,000,000 at the end of 2008. These loans were authorized only by the members of the Federal Open Market Committee, a group of twelve bankers at the Federal Reserve whose deliberations are shielded from public view for five years.
“This amount is ten times the size of the entire State Department budget. Publicly elected lawmakers proposed and debated over 100 amendments to the State department budget. That’s how democracy is supposed to work -- not through secret deliberations in which 12 unelected bankers trample on Congress’s Constitutional authority to appropriate funds, approve treaties, and coin money.
“I find it hard to believe that the power to hand over the half-a-trillion dollars to foreigners was part of Congressional intent in 1913 when the Federal Reserve Act was written. If the Federal Reserve can lend a half a trillion without consulting a single elected official, it is time for a review of the central bank’s ‘swap line’ authority.
#45 Fedup
Posted 25 August 2009 - 06:29 AM
Read Bloomberg LP vs. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan).
http://www.cjr.org/d..._-_Fed_FOIA.PDF
As of August 2007, the Fed lent money to private institutions primarily through its discount window. The discount window allowed the Fed to lend money, on an overnight basis, to so-called "depository institutions," which are financial institutions that obtain their funds mainly through deposits from the public. Depository institutions include commercial banks, savings and loan associations, saving banks, and credit unions.
Starting in or around August 2007, to improve market functioning, the Fed expanded the lending from the discount window, by extending the loans from overnight to as long as 90 days. In addition, the Fed added three new lending facilities: the Primary Dealer, Credit Facility, the Term Securities Lending Facility, and the Term Auction Facility.
The changes to the discount window lending, and three new facilities, were designed to enhance the Fed's ability to lend to depository institutions, and also created the ability to lend to so-called "primary dealers," which are banks and securities broker-dealers that trade in U.S. Government securities with Federal Reserve Bank of New York. During 2008, the Fed has included on its list of primary dealers Bear, Stearns & Co., Lehman Brothers Inc., Bank of America Securities LLC, Barclays Capital Inc., Goldman, Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Merrill Lynch Government Securites Inc., and Morgan Stanley & Co. Inc.
According the Fed, the discount window for depository institutions and the Primary Dealer Credit Facility for primary dealers are effectively 'standing' facilities that provide daily access to funding eligible institutions. Access to funds through these facilities occurs at the initiative of the borrowing institution, in an amount determined by the borrowing institution's needs and collateral. The Fed charges a fixed interest rate set at a premium to market rates on this kind of facility to discourage institutions from unnecessary use of Fed lending.
Also according to the Fed, the Term Auction Facility for depository institutions and Term Securities Lending Facility for primary dealers constitute a second kind of facility in which a pre-determined amount of longer-term funding is made available at auction on pre-announced dates for settlement on a later date. These facilities are designed to improve overall liquidity conditions in term and secured funding markets, rather than satisfy the needs of a particular institution on a particular day. The interest rate and the distribution of the awards accross institutions in this second kind of facility are determined by an auction.
Before these changes to the Fed's lending programs, during the week ending August 8, 2007, the Fed had average outstanding lending through the discount window of around $1 million. After these changes to the Fed's lending programs, during the week ending October 8, 2008, the Fed had average outstanding lending of $400 billion.
Private institutions that seek to avail themselves of these lending facilities must post collateral to the Fed in exchange for the loans of government money. The amount of the loan corresponds with the value assigned to the collateral.
The public has a significant and legitimate interest in the Fed's conduct with the respect to these four leading facilities because the Fed's assets are public assets. Taxpayers are entitled to understand and assess the decisions by the Fed on the valuation of the collateral it accepts as security for public money being lent to private institutions. The public's interest is particularly pronounced in light of the new expansive powers of the Fed, the new risks that the Fed is taking with public money, and the ongoing financial crisis and its effects on the American economy
http://www.cjr.org/d..._-_Fed_FOIA.PDF
As of August 2007, the Fed lent money to private institutions primarily through its discount window. The discount window allowed the Fed to lend money, on an overnight basis, to so-called "depository institutions," which are financial institutions that obtain their funds mainly through deposits from the public. Depository institutions include commercial banks, savings and loan associations, saving banks, and credit unions.
Starting in or around August 2007, to improve market functioning, the Fed expanded the lending from the discount window, by extending the loans from overnight to as long as 90 days. In addition, the Fed added three new lending facilities: the Primary Dealer, Credit Facility, the Term Securities Lending Facility, and the Term Auction Facility.
The changes to the discount window lending, and three new facilities, were designed to enhance the Fed's ability to lend to depository institutions, and also created the ability to lend to so-called "primary dealers," which are banks and securities broker-dealers that trade in U.S. Government securities with Federal Reserve Bank of New York. During 2008, the Fed has included on its list of primary dealers Bear, Stearns & Co., Lehman Brothers Inc., Bank of America Securities LLC, Barclays Capital Inc., Goldman, Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Merrill Lynch Government Securites Inc., and Morgan Stanley & Co. Inc.
According the Fed, the discount window for depository institutions and the Primary Dealer Credit Facility for primary dealers are effectively 'standing' facilities that provide daily access to funding eligible institutions. Access to funds through these facilities occurs at the initiative of the borrowing institution, in an amount determined by the borrowing institution's needs and collateral. The Fed charges a fixed interest rate set at a premium to market rates on this kind of facility to discourage institutions from unnecessary use of Fed lending.
Also according to the Fed, the Term Auction Facility for depository institutions and Term Securities Lending Facility for primary dealers constitute a second kind of facility in which a pre-determined amount of longer-term funding is made available at auction on pre-announced dates for settlement on a later date. These facilities are designed to improve overall liquidity conditions in term and secured funding markets, rather than satisfy the needs of a particular institution on a particular day. The interest rate and the distribution of the awards accross institutions in this second kind of facility are determined by an auction.
Before these changes to the Fed's lending programs, during the week ending August 8, 2007, the Fed had average outstanding lending through the discount window of around $1 million. After these changes to the Fed's lending programs, during the week ending October 8, 2008, the Fed had average outstanding lending of $400 billion.
Private institutions that seek to avail themselves of these lending facilities must post collateral to the Fed in exchange for the loans of government money. The amount of the loan corresponds with the value assigned to the collateral.
The public has a significant and legitimate interest in the Fed's conduct with the respect to these four leading facilities because the Fed's assets are public assets. Taxpayers are entitled to understand and assess the decisions by the Fed on the valuation of the collateral it accepts as security for public money being lent to private institutions. The public's interest is particularly pronounced in light of the new expansive powers of the Fed, the new risks that the Fed is taking with public money, and the ongoing financial crisis and its effects on the American economy
#46 Fedup
Posted 25 August 2009 - 06:32 AM
I love Bloomberg. They have real reporting
http://www.bloomberg...id=av_bCYnKeIUk
Aug. 25 (Bloomberg) -- The Federal Reserve must make records about emergency lending to financial institutions public within five days because it failed to convince a judge the documents should be exempt from the Freedom of Information Act.
Manhattan Chief U.S. District Judge Loretta Preska rejected the central bank’s argument that the records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions. The collateral lists “are central to understanding and assessing the government’s response to the most cataclysmic financial crisis in America since the Great Depression,” according to the lawsuit that led to yesterday’s ruling.
The Fed has refused to name the borrowers, the amounts of loans or the assets put up as collateral under 11 programs, saying that doing so might set off a run by depositors and unsettle shareholders. Bloomberg LP, the New York-based company majority-owned by Mayor Michael Bloomberg, sued Nov. 7 on behalf of its Bloomberg News unit.
“When an unprecedented amount of taxpayer dollars were lent to financial institutions in unprecedented ways and the Federal Reserve refused to make public any of the details of its extraordinary lending, Bloomberg News asked the court why U.S. citizens don’t have the right to know,” said Matthew Winkler, the editor-in-chief of Bloomberg News. “We’re gratified the court is defending the public’s right to know what is being done in the public interest.”
‘Involuntary Investor’
Bloomberg said in the suit U.S. taxpayers need to know the risks behind the central bank’s $2 trillion in lending because the public is an “involuntary investor” in the nation’s banks.
The Federal Reserve’s balance sheet about doubled beginning in September to more than $2 trillion because of a historic attempt to rescue financial institutions. For the week ended Aug. 19, Fed assets rose 2.3 percent to $2.06 trillion as the central bank bought more mortgage-backed securities. Non- government securities were allowed to be purchased by the Fed for the first time.
The Freedom of Information Act obliges federal agencies to make government documents available to the press and public. The Bloomberg suit, filed in New York, doesn’t seek money damages.
David Skidmore, a Fed spokesman, said the board’s staff was reviewing the ruling and declined to comment on it at this time.
The case is Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan).
http://www.bloomberg...id=av_bCYnKeIUk
Aug. 25 (Bloomberg) -- The Federal Reserve must make records about emergency lending to financial institutions public within five days because it failed to convince a judge the documents should be exempt from the Freedom of Information Act.
Manhattan Chief U.S. District Judge Loretta Preska rejected the central bank’s argument that the records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions. The collateral lists “are central to understanding and assessing the government’s response to the most cataclysmic financial crisis in America since the Great Depression,” according to the lawsuit that led to yesterday’s ruling.
The Fed has refused to name the borrowers, the amounts of loans or the assets put up as collateral under 11 programs, saying that doing so might set off a run by depositors and unsettle shareholders. Bloomberg LP, the New York-based company majority-owned by Mayor Michael Bloomberg, sued Nov. 7 on behalf of its Bloomberg News unit.
“When an unprecedented amount of taxpayer dollars were lent to financial institutions in unprecedented ways and the Federal Reserve refused to make public any of the details of its extraordinary lending, Bloomberg News asked the court why U.S. citizens don’t have the right to know,” said Matthew Winkler, the editor-in-chief of Bloomberg News. “We’re gratified the court is defending the public’s right to know what is being done in the public interest.”
‘Involuntary Investor’
Bloomberg said in the suit U.S. taxpayers need to know the risks behind the central bank’s $2 trillion in lending because the public is an “involuntary investor” in the nation’s banks.
The Federal Reserve’s balance sheet about doubled beginning in September to more than $2 trillion because of a historic attempt to rescue financial institutions. For the week ended Aug. 19, Fed assets rose 2.3 percent to $2.06 trillion as the central bank bought more mortgage-backed securities. Non- government securities were allowed to be purchased by the Fed for the first time.
The Freedom of Information Act obliges federal agencies to make government documents available to the press and public. The Bloomberg suit, filed in New York, doesn’t seek money damages.
David Skidmore, a Fed spokesman, said the board’s staff was reviewing the ruling and declined to comment on it at this time.
The case is Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan).
#49 Kharkov
Posted 09 September 2009 - 04:50 PM
City of London + City of Vatican + City of Columbia are the 3 independent states within states wich composes the empire of the city. The first is financial control over earth economy, the second is religion control over the earth and the third one is military control over the earth.
#50 Luke
Posted 27 September 2009 - 11:10 AM
This is getting really scary...
New information today on the death of a census worker found in eastern Kentucky. 51-year-old Bill Sparkman was found hanging from a tree with a noose around his neck near a cemetery in the Daniel Boone National Forest. Today it was released that the word ‘FED’ was scrawled across his chest in felt-tip pen.
Authorities say he died by asphyxiation, but they are not sure if it was accidental, homicide, or suicide.
Sparkman was a substitute teacher in the Laurel County school district and volunteered at an elementary school. Sparkman was a cancer survivor and had been in remission at the time of his death.
State police will not confirm if Sparkman was targeted because of his government job, or not.
New information today on the death of a census worker found in eastern Kentucky. 51-year-old Bill Sparkman was found hanging from a tree with a noose around his neck near a cemetery in the Daniel Boone National Forest. Today it was released that the word ‘FED’ was scrawled across his chest in felt-tip pen.
Authorities say he died by asphyxiation, but they are not sure if it was accidental, homicide, or suicide.
Sparkman was a substitute teacher in the Laurel County school district and volunteered at an elementary school. Sparkman was a cancer survivor and had been in remission at the time of his death.
State police will not confirm if Sparkman was targeted because of his government job, or not.
#51 Enron Ex
Posted 27 September 2009 - 11:41 PM
Don't worry. Everyone here is about to get their wish. Barney Frank is on board now.
I want to restrict the power of the Fed in a number of ways," said Frank in response to a question about the bill.
"They have had since 1932... the right to intervene in the economy almost whenever they" wanted to, Frank said, noting that the Fed relied on its extraordinary lending power to forward billions to financial institutions last fall. He intends to curtail that lending power, he said.
"Finally we will subject them to a complete audit," he said. "I have been working with Ron Paul, the main sponsor of that bill. He agrees that we don't want to have the audit appear as if it is influencing monetary policy, because that would be inflationary and Ron and I agree on that.
I want to restrict the power of the Fed in a number of ways," said Frank in response to a question about the bill.
"They have had since 1932... the right to intervene in the economy almost whenever they" wanted to, Frank said, noting that the Fed relied on its extraordinary lending power to forward billions to financial institutions last fall. He intends to curtail that lending power, he said.
"Finally we will subject them to a complete audit," he said. "I have been working with Ron Paul, the main sponsor of that bill. He agrees that we don't want to have the audit appear as if it is influencing monetary policy, because that would be inflationary and Ron and I agree on that.
#52 Fedup
Posted 20 October 2009 - 07:26 AM
Just to update this blog. The Federal Reserve filed a notice it will appeal a judge’s order requiring the central bank to identify the companies that benefited from its emergency loans.
The filing with the U.S. Court of Appeals in New York today was authorized by Solicitor General Elena Kagan, the Obama administration’s top courtroom lawyer, according to Charles Miller, a spokesman for Kagan.
“Public disclosure is likely to cause substantial competitive injury to these financial institutions including the loss of public confidence in the institution, runs on banks and possible failure of some institutions,” the Fed said in its notice, which asks to put the lower court’s order on hold until the appeal is prepared.
You can read the exact transcript here:
http://docs.justia.c...9595/335178/43/
Here is a breakdown of the case.
http://news.justia.c...cv09595/335178/
The filing with the U.S. Court of Appeals in New York today was authorized by Solicitor General Elena Kagan, the Obama administration’s top courtroom lawyer, according to Charles Miller, a spokesman for Kagan.
“Public disclosure is likely to cause substantial competitive injury to these financial institutions including the loss of public confidence in the institution, runs on banks and possible failure of some institutions,” the Fed said in its notice, which asks to put the lower court’s order on hold until the appeal is prepared.
You can read the exact transcript here:
http://docs.justia.c...9595/335178/43/
Here is a breakdown of the case.
http://news.justia.c...cv09595/335178/
#53 Senator Merkley
Posted 23 October 2009 - 05:57 AM
In the wake of the Federal Reserve’s extraordinary actions last year to stabilize the financial system, U.S. Senators Jeff Merkley (D-OR) and Bob Corker (R-TN), members of the Senate Banking Committee, today introduced legislation that will require the Government Accountability Office (GAO) to conduct an audit of the Fed’s emergency lending programs. The Federal Reserve Accountability Act will monitor and protect taxpayer dollars without intruding upon the Federal Reserve’s independent monetary policy or its role as lender of last resort.
"Transparency and accountability are fundamental principles of representative government,” Merkley said. “During this financial crisis, Federal Reserve credit contributed greatly to the stabilization of the system. In doing so, the Federal Reserve departed significantly from its traditional relationship with markets and took on unprecedented new risks. Such a significant change in the Federal Reserve’s traditional activities demands responsible, robust oversight. The Federal Reserve Accountability Act strikes the right balance between protecting taxpayer dollars and respecting the central bank’s responsibility to manage monetary policy."
"The Federal Reserve has provided our financial system with emergency credit during this time of financial hardship, and in the course of doing so, has seen a $1.4 trillion increase in its balance sheet. Despite its independence, these are still taxpayer dollars at risk, and many Americans have called for an audit of the Fed," Corker said. “This bill is the way to do it. We give the Government Accountability Office the authority to audit the Fed's emergency credit facilities without inappropriately compromising the independence of the Fed or politicizing its role in crafting monetary policy."
The Federal Reserve Accountability Act would require the GAO to audit all remaining emergency lending programs not already subject to audit. To protect against the risk that disclosure of the participation of particular institutions could disrupt markets, the GAO would be required to redact the names of the specific institutions. Names would, however, be made available one year after each emergency program is no longer used. In addition, to encourage greater accessibility for the average taxpayer, the Fed would be required to place these GAO audits along with additional audit materials on its website under a new “Audit” section.
"Transparency and accountability are fundamental principles of representative government,” Merkley said. “During this financial crisis, Federal Reserve credit contributed greatly to the stabilization of the system. In doing so, the Federal Reserve departed significantly from its traditional relationship with markets and took on unprecedented new risks. Such a significant change in the Federal Reserve’s traditional activities demands responsible, robust oversight. The Federal Reserve Accountability Act strikes the right balance between protecting taxpayer dollars and respecting the central bank’s responsibility to manage monetary policy."
"The Federal Reserve has provided our financial system with emergency credit during this time of financial hardship, and in the course of doing so, has seen a $1.4 trillion increase in its balance sheet. Despite its independence, these are still taxpayer dollars at risk, and many Americans have called for an audit of the Fed," Corker said. “This bill is the way to do it. We give the Government Accountability Office the authority to audit the Fed's emergency credit facilities without inappropriately compromising the independence of the Fed or politicizing its role in crafting monetary policy."
The Federal Reserve Accountability Act would require the GAO to audit all remaining emergency lending programs not already subject to audit. To protect against the risk that disclosure of the participation of particular institutions could disrupt markets, the GAO would be required to redact the names of the specific institutions. Names would, however, be made available one year after each emergency program is no longer used. In addition, to encourage greater accessibility for the average taxpayer, the Fed would be required to place these GAO audits along with additional audit materials on its website under a new “Audit” section.
#54 Congressman Ron Paul
Posted 27 October 2009 - 12:13 PM
I hope you join me in my firm conviction that now is the time to fight back against the out of control Federal Reserve and continued Wall Street plundering of our tax dollars.
The threat isn't hard to see -- just look all around us. Our constitutional principles and freedoms are being assaulted at every turn. More bailouts, trillion dollar "stimulus" plans, huge new debt burdens for our children, simply printing money to cover our failed policies -- I could go on and on. You and I both know that President Obama is going to keep going and going unless someone puts a stop to the madness.
But the good news is there is a way to fight back. And that fight starts today -- by "Auditing the Fed" and showing the American people just how the Fed has abused its power, debauched the dollar, and helped strangle our economy.
The threat isn't hard to see -- just look all around us. Our constitutional principles and freedoms are being assaulted at every turn. More bailouts, trillion dollar "stimulus" plans, huge new debt burdens for our children, simply printing money to cover our failed policies -- I could go on and on. You and I both know that President Obama is going to keep going and going unless someone puts a stop to the madness.
But the good news is there is a way to fight back. And that fight starts today -- by "Auditing the Fed" and showing the American people just how the Fed has abused its power, debauched the dollar, and helped strangle our economy.
#55 John F. Tate
Posted 27 October 2009 - 12:16 PM
Trillions of dollars are being stolen from the U.S. taxpayer.
Right now, you and I are seeing the worst plundering of a country's wealth in the history of civilization, led by an out of control Federal Reserve.
But together you and I CAN put a stop to it all.
With your help (including submitting the petition linked below to your Congressman and Senators) today, Representative Ron Paul, Senator Jim DeMint and Campaign for Liberty are ready to fight back, by taking the battle straight to the heart of the problem - the Federal Reserve itself.
Just think about the scope of the problem for a minute: The massive, outrageous amount of dollars committed to the economic bailouts in recent months totals:
More than the socialist New Deal ... More than the entire Iraq debacle ... More than the 1980's savings and loan mess ... More than the Korean War ...
COMBINED.
When will it all end?
It's time you and I put a stop to a renegade Federal Reserve by exposing the Fed's out of control actions to the American people. And Congressman Ron Paul and Senator Jim DeMint have a bill before Congress to do just that, known as the "Audit the Fed" Bill (HR 1207 and S 604).
That's why it's vital you click here to submit your "Audit the Fed" petition in support of Congressman Paul's bill.
Right now, you and I are seeing the worst plundering of a country's wealth in the history of civilization, led by an out of control Federal Reserve.
But together you and I CAN put a stop to it all.
With your help (including submitting the petition linked below to your Congressman and Senators) today, Representative Ron Paul, Senator Jim DeMint and Campaign for Liberty are ready to fight back, by taking the battle straight to the heart of the problem - the Federal Reserve itself.
Just think about the scope of the problem for a minute: The massive, outrageous amount of dollars committed to the economic bailouts in recent months totals:
More than the socialist New Deal ... More than the entire Iraq debacle ... More than the 1980's savings and loan mess ... More than the Korean War ...
COMBINED.
When will it all end?
It's time you and I put a stop to a renegade Federal Reserve by exposing the Fed's out of control actions to the American people. And Congressman Ron Paul and Senator Jim DeMint have a bill before Congress to do just that, known as the "Audit the Fed" Bill (HR 1207 and S 604).
That's why it's vital you click here to submit your "Audit the Fed" petition in support of Congressman Paul's bill.
#56 John F. Tate
Posted 27 October 2009 - 12:18 PM
Just a few months ago, there was no chance of passing any legislation like the Audit the Fed Bill. So I guess there has been one "CHANGE."
You see, with the piling up of trillions of dollars in out of control "bailouts" of Wall Street and international bankers, even many politicians in Washington want to show you they're "being responsible."
What better way for Congress to do this than by auditing the Federal Reserve to account for the trillions stolen from the U.S. taxpayers?
More and more Congressmen are already feeling the pressure and are signing up to support this bill. I've even received word this bill could move in the next few weeks in the U.S. House.
When that happens, you and I must be ready to fight.
And, it's both a bill we CAN pass, and one that is vital to exposing the massive corruption and dollar manipulation at the Federal Reserve.
You see, after regulating, taxing, spending, borrowing and printing us into what looks like the worst recession in decades, establishment politicians and power brokers are assuring us they're working hard to "fix" our economic woes. What is their solution? You guessed it. More of the same!
And even if the Audit the Fed Bill is defeated this time, just forcing a vote is a win/win situation.
Can you imagine how many politicians will pay the price at the ballot box in 2010 when you and I tell the American people their Congressman somehow lost trillions of taxpayer dollars and refused to even LOOK for it?
You see, with the piling up of trillions of dollars in out of control "bailouts" of Wall Street and international bankers, even many politicians in Washington want to show you they're "being responsible."
What better way for Congress to do this than by auditing the Federal Reserve to account for the trillions stolen from the U.S. taxpayers?
More and more Congressmen are already feeling the pressure and are signing up to support this bill. I've even received word this bill could move in the next few weeks in the U.S. House.
When that happens, you and I must be ready to fight.
And, it's both a bill we CAN pass, and one that is vital to exposing the massive corruption and dollar manipulation at the Federal Reserve.
You see, after regulating, taxing, spending, borrowing and printing us into what looks like the worst recession in decades, establishment politicians and power brokers are assuring us they're working hard to "fix" our economic woes. What is their solution? You guessed it. More of the same!
And even if the Audit the Fed Bill is defeated this time, just forcing a vote is a win/win situation.
Can you imagine how many politicians will pay the price at the ballot box in 2010 when you and I tell the American people their Congressman somehow lost trillions of taxpayer dollars and refused to even LOOK for it?
#57 John F. Tate
Posted 27 October 2009 - 12:19 PM
Now we just need to show Congress the American people demand action on the Audit the Fed Bill. Here's how we plan to do that.
First, we're already busy contacting up to five million activists nationwide through mail, phones and email to generate petitions to the U.S. Congress demanding action on Ron Paul's Audit the Fed Bill.
But that's just the beginning. We'll work the talk radio stations and grant local media interviews to ratchet up the pressure even further on Congress.
And a few days before the vote, if we have the resources, we'd also like to run hard-hitting targeted radio, TV and newspaper ads.
This entire program is designed to send this one, CLEAR message to Congress: Any politician who votes against the Federal Reserve Audit should look for another job.
First, we're already busy contacting up to five million activists nationwide through mail, phones and email to generate petitions to the U.S. Congress demanding action on Ron Paul's Audit the Fed Bill.
But that's just the beginning. We'll work the talk radio stations and grant local media interviews to ratchet up the pressure even further on Congress.
And a few days before the vote, if we have the resources, we'd also like to run hard-hitting targeted radio, TV and newspaper ads.
This entire program is designed to send this one, CLEAR message to Congress: Any politician who votes against the Federal Reserve Audit should look for another job.
#59 Penta
Posted 18 November 2009 - 10:25 PM
2nd annual
End The Fed
End The Fed
Federal Reserve Building
20th St NW & Constitution Ave NW
Washington, DC 20001
302-670-7198
"On the night of November 22, 1910, a group of newspaper reporters stood disconsolately in the railway station at Hoboken, New Jersey. They had just watched a delegation of the nation's leading financiers leave the station on a secret mission. It would be years before they discovered what that mission was, and even then they would not understand that the history of the United States underwent a drastic change after that night in Hoboken." From 'Secrets of the Federal Reserve', by Eustace Mullins.
Come join us this Sunday, November 22 2009
#60 Widow's Son
Posted 23 November 2009 - 07:42 PM
http://www.bloomberg...yLYFW_bK0&pos=5
Former Federal Reserve Governor Randall Kroszner said a measure in Congress to subject the central bank’s monetary policy to audits would limit its independence and ability to control inflation.
“It would really be a shame to lose the benefits of Fed independence,” Kroszner, 47, said today in an interview on Bloomberg Radio. “It was really kind of the genius of the Congress that they structured it be independent of short-term congressional pressures but still accountable to the Congress.”
The House Financial Services Committee advanced a proposal last week requiring audits of monetary policy by the Government Accountability Office. The bill is sponsored by Representative Ron Paul, a Republican from Texas. Fed Chairman Ben S. Bernanke has opposed Paul’s proposal.
“If you had more political pressure from the GAO being able to audit any decision the monetary authority was making, a congressman perhaps the day before the decision saying I think they are going to keep rates up, I really think that’s a real problem,” said Kroszner, a professor of economics at the University of Chicago who served as a Fed governor from March 2006 to January 2009.
Paul, who wrote a best-selling book this year titled “End the Fed,” said provisions in his amendment would limit interference in monetary policy. The measure, co-sponsored by Representative Alan Grayson, a Democrat from Florida, would exclude any unreleased transcripts or minutes of Fed policy meetings. It calls for an audit of the Fed and its 12 regional banks by the GAO within a year after enactment.
Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee and opposed the Paul measure, said the issue “may be revisited” when the legislation reaches the House floor.
Declining Inflation
Kroszner said other nations have followed the example of the U.S. by insulating their central banks from interference by politicians, with the result that inflation rates have fallen around the world.
“We’ve seen much better inflation performance in other countries in the last 25 years as they’ve moved toward greater independence, using the Fed as the shining example of that,” he said.
Proposals to increase the Fed’s supervisory responsibilities over banks should be matched by an expansion of the central bank’s authority, Kroszner said.
“If the Congress chooses to give greater responsibility to the Fed for broader surveillance, it has to make sure to balance that with appropriate authority,” he said. “You can’t make someone responsible but not give them the tools necessary to do the supervision.”
Council of Regulators
The Obama administration has proposed making the Fed the regulator of large companies whose leverage and complexity threaten the financial system. The White House has also called for a council of regulators to monitor the economy for systemic risks and for the Treasury to decide if a company has grown so risky that it should be wound down.
“It’s very important to make sure that there’s good communication between the Federal Reserve and other regulators to make sure that the Fed is fully informed about what may be happening in other parts of the financial system,” Kroszner said.
(In the U.S., hear Bloomberg Radio on satellite radio: Sirius Channel 130 and XM Channel 129. In New York City, tune to WBBR 1130 on the AM dial.)
Former Federal Reserve Governor Randall Kroszner said a measure in Congress to subject the central bank’s monetary policy to audits would limit its independence and ability to control inflation.
“It would really be a shame to lose the benefits of Fed independence,” Kroszner, 47, said today in an interview on Bloomberg Radio. “It was really kind of the genius of the Congress that they structured it be independent of short-term congressional pressures but still accountable to the Congress.”
The House Financial Services Committee advanced a proposal last week requiring audits of monetary policy by the Government Accountability Office. The bill is sponsored by Representative Ron Paul, a Republican from Texas. Fed Chairman Ben S. Bernanke has opposed Paul’s proposal.
“If you had more political pressure from the GAO being able to audit any decision the monetary authority was making, a congressman perhaps the day before the decision saying I think they are going to keep rates up, I really think that’s a real problem,” said Kroszner, a professor of economics at the University of Chicago who served as a Fed governor from March 2006 to January 2009.
Paul, who wrote a best-selling book this year titled “End the Fed,” said provisions in his amendment would limit interference in monetary policy. The measure, co-sponsored by Representative Alan Grayson, a Democrat from Florida, would exclude any unreleased transcripts or minutes of Fed policy meetings. It calls for an audit of the Fed and its 12 regional banks by the GAO within a year after enactment.
Barney Frank, the Massachusetts Democrat who chairs the House Financial Services Committee and opposed the Paul measure, said the issue “may be revisited” when the legislation reaches the House floor.
Declining Inflation
Kroszner said other nations have followed the example of the U.S. by insulating their central banks from interference by politicians, with the result that inflation rates have fallen around the world.
“We’ve seen much better inflation performance in other countries in the last 25 years as they’ve moved toward greater independence, using the Fed as the shining example of that,” he said.
Proposals to increase the Fed’s supervisory responsibilities over banks should be matched by an expansion of the central bank’s authority, Kroszner said.
“If the Congress chooses to give greater responsibility to the Fed for broader surveillance, it has to make sure to balance that with appropriate authority,” he said. “You can’t make someone responsible but not give them the tools necessary to do the supervision.”
Council of Regulators
The Obama administration has proposed making the Fed the regulator of large companies whose leverage and complexity threaten the financial system. The White House has also called for a council of regulators to monitor the economy for systemic risks and for the Treasury to decide if a company has grown so risky that it should be wound down.
“It’s very important to make sure that there’s good communication between the Federal Reserve and other regulators to make sure that the Fed is fully informed about what may be happening in other parts of the financial system,” Kroszner said.
(In the U.S., hear Bloomberg Radio on satellite radio: Sirius Channel 130 and XM Channel 129. In New York City, tune to WBBR 1130 on the AM dial.)
DC Events Calendar
Recently Added Topics