Don't Cede More Economic Authority to Unaccountable Fed

No cedan mas poder economico a la secretiva Fed

The reviews are in on Barack Obama's plan to address the crisis of Wall Street speculation and casino capitalism that has dramatically increased the gap between working Americans and the rich, created pressure for the deindustrialization of the United States and depression of wages and income for workers and farmers and created a nasty banking crisis.
Though even Obama acknowledges that this is the big one –- the issue that as much as anything led Americans to elect him last fall –- his "financial overhaul plan" did not merit above-the-fold coverage on the front page of The New York Times, the country's "newspaper of record." Two stories from Tehran and one on a poll about health care reform held the top spots. The overhaul merited only a feature suggesting –- correctly -- that there was "only a hint of Roosevelt" in Obama's plan.
In other words, for the great mass of Americans there will be no new "New Deal." To be sure, there's some good stuff here: creation of a new agency to help protect consumers of "financial products" and some stronger transparency requirements, a few more rules regarding banks and mortgage-backed securities. "But," as Times writer Joe Nocera notes, "it's what the plan doesn't do that is most notable." Nocera focuses, appropriately enough, on the failure of the administration to do much about the problem –- for taxpayers and for democracy –- of banks that are "too big to fail."
But the real concern ought not be focused on what this seemingly tepid plan fails to do.
The real concern is what it does.
The plan dramatically increases the authority and reach of the Federal Reserve, an already too powerful and unaccountable institution that will -- to the delight of the administration's "Fed men": Treasury Secretary Tim Geithner and administration economic adviser Lawrence Summers -- become what the Wall Street Journal says will be "the nation's most powerful financial overseer."
"The proposal, if passed into law, would represent one of the biggest changes ever in the Fed's role," explains Journal writer Sudeep Reddy. "The central bank would win power to monitor risks across the financial system, and sweeping authority to examine any firm that could threaten financial stability, even if the Fed wouldn't normally supervise the institution. The nation's biggest and most interconnected firms would be subject to heightened oversight by the central bank."
In announcing the plan, President Obama claimed "that lines of responsibility and accountability are clear" with regard to the new authority being placed in the Fed's hands.
That is a ridiculous statement.
The Fed is famously unaccountable and resistant to transparency. Even Geithner acknowledged in his Thursday morning session with the Senate Banking Committee that there is a need to look at reforming the Fed's lax governance structure.
But don't expect Geithner of others in the administration to take a lead when it comes to fixing the Fed, an agency that zealously guards –- for logical reasons, as its track record is one of frequent missteps and failures on an epic scale. As Senate Banking Committee chair Chris Dodd said after reviewing the central bank's significant flaws, "There's not a lot of confidence in the Fed at this point, and I'm stating the obvious."
What should be obvious to everyone is that Congress needs to get a grip on the Fed –- which is structured in a manner so that it faces little or no congressional oversight -- before it allows Obama's proposal to advance.
So says Ohio Congressman Dennis Kucinich, the dissident Democrat who responded to Obama's plan by declaring that: "Before Congress gives the Fed any new authority, we must thoroughly examine the Fed's response to our current economic crisis."
Noted Kucinich:
Since August 2007 the Fed has intervened in the economy in an extraordinary way, as a result ballooning their balance sheet from $847 billion to more than $2 trillion. Yet, we still don't know what the Fed has done or who got the money. That is why I introduced the bipartisan HR 2424, which would grant the GAO the authority to audit the Fed's response to our nation's economic crisis, a response that has dwarfed the $700 billion TARP program by more than 2 to 1.
Before we grant the Fed any new authority, we must demand greater transparency from the Fed; an earnest and open audit of the Federal Reserve's response to the economic crisis would be a significant step in the right direction. We can't continue to let the Fed operate within a black box.
Kucinich has proposed HR 2424, a piece of legislation that would amend United States Code "to authorize reviews by the Comptroller General of the United States of any credit facility established by the Board of Governors of the Federal Reserve System or any Federal reserve bank during the current financial crisis, and for other purposes."
Several progressive Democrats and old-right Republicans, including Texas Congressman Ron Paul, have cosponsored Kucinich's measure. Additionally, Paul has proposed H.R. 1207, which would amend the bill "to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes."
A majority of House members –- 234, so far, ranging from the most progressive Democrats to the most conservative Republicans -- have signed on as cosponsors of this necessary legislation.
This is one of those issues that makes sense to any honest representative, no matter what the party or what the ideology. Our elected and reasonably accountable federal officials cannot cede more control over the U.S. economy to the unelected and unaccountable Fed without auditing, reviewing and reforming how the Federal Reserve System operates.

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La ley de Ron Paul ya tiene 242 co-sponsors que son mas de un 55% del congreso. La lista esta en el link.

Ron Paul’s Bill To Audit The Federal Reserve Now Has 242 Co-Sponsors | Ron Paul .com

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tiene alguna consecuencia para con este proyecto la nueva legislacion de Obama para la FED?

Para este proyecto directamente no. Esta ley lo que haria seria hacer publicos los datos de las actividades del banco central. Es que aunque suene muy fuerte, estos tipos estan dando trillones de dolares (con t) a bancos y fondos de inversion segun a ellos les parece bien y solo a quien ellos eligen y la peña no puede, ya no decidir, sino es que no puede ni saberlo. Ron Paul siempre dice que como congresista le es mas facil pedir informacion sobre las actividades secretas de la CIA que sobre las actividades de la FED.

Lo que pasa que en el fondo no deja de ser un mensaje de Obama de que la FED esta al cargo. Es como un refuerzo.

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Bernanke, "My concern about the legislation is that if the GAO is auditing not only the operational aspects of the programs and the details of the programs but making judgments about our policy decisions would effectively be a takeover of policy by the Congress and a repudiation of the Federal Reserve would be highly destructive to the stability of the financial system, the Dollar and our national economic situation."

Acabo de verlo en YT y lo iba a postear ahora. Para flipar: Si nos auditais y nos obligais a decir a quien le hemos dado vuestro dinero, la economía sufrirá mucho. Vosotros mismo... Panda de hijos de puta.

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Acabo de econtrar el mismo video en Alex Jones y aparte sale otro artículo

Bernanke Threatens Economic Collapse If Fed Audited

Greenspan, Bernanke and other Fed-related cronies have already bad-mouthed the Dollar and signaled it’s decline as the world’s currency. So what else is new?

Traitor Greenspan Urges Gulf States To Abandon Dollar

Former Fed chief's insistence that Arab nations dump greenback peg could lead to economic chaos in America


Alan Greenspan has again exposed himself as a traitor working against the interests of the American people by urging Gulf states to abandon the dollar peg, a move that could result in financial chaos and an economic depression in America.

The dollar peg mandates Gulf nations to price their assets in U.S. dollars and follow U.S. monetary policy at a time when the Fed is cutting interest rates, a system that has produced a boom in oil revenues but led to high inflation as the dollar weakens.

"It [de-pegging] is probably the most useful thing that can be done to stop the increasing influence of foreign assets on the monetary system and therefore the monetary base which is basically the major force in inflationary pressures," Greenspan told the Abu Dhabi Corporate Leadership Forum yesterday.


"In the short term free floating ... will not fully dissipate inflationary pressure, although it would significantly do so," added Greenspan, giving a green light for Gulf states to drop the dollar peg.

According to Economist editor Pam Woodall, Greenspan's comments heralded the beginning of the end for the US dollar as the currency of choice for foreign exchange reserves.

"If Asian central banks hold today more than 80 per cent of the global foreign exchange reserves, which indicates the shift of the global economy domination towards Asia, it seems quite awkward that the UAE still maintains the peg of its currency to the US dollar," she told Gulf News.

Greenspan's zeal to destroy the dollar is evident in numerous public statements he has made predicting the replacement of the dollar with the Euro as the world reserve currency.

The former Fed chairman has repeatedly badmouthed the dollar and hyped the inevitability of economic chaos at a time when market confidence is in the toilet. Greenspan's rhetoric matches that of the IMF, who in October of last year bizarrely slammed the dollar as "overvalued" at the same time the greenback hit its all time low against the Euro.

A decision on behalf of the Gulf states to abandon the dollar peg would have disastrous consequences for the greenback and the American economy.

Such a move could lead the likes of the United Arab Emirates and Saudi Arabia to diversify their foreign exchange holdings out of dollars. This would amount to a vote of "no confidence" in the dollar and may cause other countries with large dollar reserves, such as China and Japan, to follow suit and begin dumping the greenback en masse.

China has threatened repeatedly to use the "nuclear option" and liquidate its vast holding of US treasuries in response to continued pressure on the Communist state to force a yuan revaluation. According to a widely-read London Telegraph report, such an event "could trigger a dollar crash" and also "cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession."

Runaway inflation would also ensue, making the cost of living unaffordable to even middle class Americans as food prices skyrocket and international aid organizations like the World Food Programme predict rationing and food riots.

The dollar has held firm against the Euro and recovered some losses against Sterling over the past two months, but it has still lost 12 per cent of its value against the trade-weighted index over the last two years and has plunged by a whopping 60 per cent against the Euro since Bush entered the White House.

Prefiero poner aquí la noticia para que no se pierda





El presidente de la Reserva Federal de EEUU (FED), Ben Bernanke, negó el jueves haber presionado a Bank of America para comprar Merrill Lynch, tal y como denunció el director del banco, Kenneth Lewis. Sin embargo, correos internos de la FED desvelan presiones para forzar la compra.


Manuel Llamas

En su comparecencia ante el Comité de Supervisión y Reforma del Gobierno de la Cámara de Representantes, Bernanke negó la denuncia del director general de Bank of America (BofA), Kenneth Lewis, que acusa a la FED de haber presionado al banco para adquirir Merrill Lynch.

"No le dije a la gerencia de Bank of America que la Reserva Federal tomaría medidas contra el consejo de administración o la directiva" si decidían suspender la compra, señaló Bernanke.

Bank of America sopesó interrumpir la operación al percatarse del volumen de pérdidas en el banco de inversión Merrill Lynch, que alcanzaron 15.000 millones de dólares en el último trimestre del 2008. Pese a tales dudas, la compra se llevó a cabo en enero con la aportación de 20.000 millones de dólares en ayudas públicas, de los 45.000 millones de dólares que recibió Bank of America en total del gobierno para fortalecer su capital.

Según testificó Lewis ante el Congreso, Henry Paulson, el entonces secretario del Tesoro, y otros funcionarios federales dejaron claro que si el BofA se retiraba de la transacción, él y los miembros de la junta directiva del banco serían destituidos. Bernanke negó tales afirmaciones ante la Cámara de Representantes.

Sin embargo, durante la sesión el Comité de Supervisión publicó algunos documentos internos de la FED que resultan reveladores. En concreto, los legisladores sacaron a la luz diversos emails (correos electrónicos) de miembros de la FED en los días previos a la formalización de la operación.

Así, los legisladores mostraron un correo del 20 de diciembre de 2008 entre Bernanke y el presidente de la Reserva Federal de Richmond, Jeffrey Lacker, en donde el presidente de la FED planeó decir a la dirección del BofA que su gestión estaría "acabada" si anulaban el acuerdo de compra de Merrill y, posteriormente, necesitaran nuevas ayudas del Gobierno para evitar la quiebra.

Bernake alegó durante la sesión que no recordaba la conversión que mantuvo con Lacker. "¿Está usted seguro de que no lo pude recordar?", insistió el republicano Dan Burton, miembro de la Comisión, informa The Wall Street Journal.

Asimismo, en unas notas tomadas por un funcionario de la FED durante una reunion celebrada el pasado junio para discutir el plan de rescate financiero, el ex secretario del Tesoro de EEUU, Paul Paulson, se refiere a Bank of America con la expresión despectiva "the turd in the punchbow", término coloquial que denota que alguien o algo no es bienvenido y está generando problemas.

La Comisión publicó ayer algunos documentos interesantes que desvelan correos internos entre altos miembros de la FED. En uno de ellos, puede leerse lo siguiente acerca de la posible expulsión de Lewis como director general del banco: "Deberíamos hacerlo como parte del acuerdo para rescatarles o, al menos, hacerles saber que tomaremos una decisión sobre el Consejo de


Tales informaciones apuntan en la misma dirección a otros documentos de similares características, en donde se demostraba que Paulson obligó a los nueve grandes bancos del país a aceptar capital público bajo el programa de rescate financiero (TARP), en una reunión urgente y extraordinaria que tuvo lugar el 13 de octubre de 2008, y a la que también asistió Bernanke, tal y como desveló Libertad Digital.

La débil declaración de Bernanke sobre las supuestas presiones a Bank of America acrecentaron las dudas entre los miembros del Comité. Hasta tal punto esto es así que algunos legisladores se oponen ahora a conceder a la FED nuevos poderes regulatorios, tal y como pretende la reforma financiera elaborada por el presidente de EEUU, Barack Obama, informa Bloomberg.

El pasado abril, el fiscal general del Estado de Nueva York, Andrew Cuomo, informó a la SEC (regulador financiero en EEUU) que existían evidencias sobre las presiones ejercidas por la FED y el Tesoro para que Bank of America no anulara el acuerdo por el que se comprometía a comprar Merrill Lynch.
Según Cuomo, las autoridades del Gobierno presionaron al BofA para que no rescindiera el contrato acogiéndose a una cláusula por la que, si la entidad detectaba que la compra no era viable, debido al deterioro de Merrill Lynch, el acuerdo podría ser anulado. Según Cuomo, en base a la declaración del director del BofA, Paulson -y también Bernanke- advirtió a Lewis que, en ese caso, él y su Junta serían sustituidos. Bernanke niega tales acusaciones y alega que no recuerda las conversaciones que entonces tuvieron lugar.


Los email de la FED desvelan presiones a Bank of America para comprar Merrill Lynch - Libertad Digital

Increíble. El dólar controlado por una banda de mafiosos que piden que rija la “ley del silencio”.
Pero ¿cómo pueden ir los norteamericanos por el mundo presumiendo de que viven en un país democrático y libre?

Visto: Ron Paul: Storming the Fed

Original: Storming The Federal Reserve

Ron Paul: Storming the Fed
by Matthew Collins

As far as finance and business goes, at least one rule generally holds true…

And this rule makes your job as an investor, entrepreneur or analyst ten times easier. The rule? If you can’t explain a particular investment or innovation to an eleven-year-old, then something shady is going on.

Credit Default Swaps, Securitization, GSEs, CDOs…all of these things were considered “financial wizardry” back in the bubble days. Now they’ve been exposed as little more than Wall Street’s version of three-card Monte.

But the card sharks behind these scams – not the individual investment banks on the frontline, but the huckster who put his seal of approval on these street-side swindlings…the guy whose rate-setting mandates created the environment for these bubble shenanigans…that yahoo is still at large, and no one in the government really seems to care.

No one; that is, except for a rogue Texan. A man who won’t settle for anything less than the America he was promised in the constitution…
The Doctor is In

Most of us grew familiar with Ron Paul in late 2007 and early ’08. He campaigned on a platform of smaller government; specifically by means of eradicating the Fed and the Internal Revenue Service…a platform that turned out to be just a few months early.

But our Resident Offshore Expert – Former Congressman Bob Bauman – knew Ron from their days together in the House. As you might expect, Bob says the soft-spoken doctor is a kind man…one who definitely “talks the talk” in addition to walking the walk.

And beyond that, Ron’s surely no average politician.

No, he actually serves a practical purpose within his community…imagine that. He’s a doctor. An obstetrician, which has proven to be a bit of a roadblock for his less useful competition…

“I had real difficulty down in Brazoria County, where he practiced, because he'd delivered half the babies in the county. There were only two obstetricians in the county, and the other one was his partner.”

That was a competitor – Gammage – talking about one of Paul’s first campaigns that came in the wake of the Watergate scandal. It should’ve been a pushover for the Democrats. In hindsight, Gammage realized that he underestimated the grass roots pull that Ron Paul had amongst his constituents.

Since then, Ron’s been an established fringe voice in Congress. His message, steeped in fiscal common sense and Austrian school economics, has grown more popular over the years, culminating in his run at the 2008 primaries.



But Ron was still too much of a dark horse.

And the Republican Party couldn’t decide whether they wanted the guy from New York that cheated on his wife…or the guy from Arizona that got engaged to his current wife while married to his previous wife. Decisions, decisions.

Either way, the mainstream just wasn’t intelligent enough to understand and appreciate Paul’s message. But as always, he stayed the course; picking his own personal war with the Federal Reserve while trillions in bailouts flowed forth.
Audit The Fed!

His bill started as something of a flash in the pan.

Building off the momentum of his national campaign, Ron introduced HR 1207, a bill to audit the Federal Reserve. (Check out the video to the right for details)

At first, most people took this as another PR stunt from the dark horse of the Republican party. After all, if Bloomberg was already being stonewalled on their suit to find out where those $2 trillion in mysterious loans went…how could someone like Ron Paul actually bring down the curtain of secrecy? Most blew it off as an impossible feat.

But – being the man he is – Ron didn’t give up…

He schlepped the bill around Capitol Hill…and as concern grew over the Fed’s wildly inflationary money-printing policies, he started finding more and more supporters.

After several months of campaigning, of viral videos and Internet blog posts, the once dismissed “cooky doc from Texas” has become a force to be reckoned with.

His “Audit the Fed” bill now has over 240 co-sponsors, or roughly 55% of the House of Representatives, and its steadily gathering positive momentum in the press.

Now granted, he needs a lot more votes to push the bill through with a filibuster-proof majority. And the senate is – quite literally – a whole different barrel of monkeys.

But CNBC’s pundits covered the subject yesterday, and the general consensus was that Bernanke would have to at least “make a deal” with Dr. Paul on oversight of the Fed. I smiled at hearing that; knowing that the doctor drives a hard bargain, and he won’t compromise his ideals for a few sessions of Bernanke-blathering.
Neither Federal Nor a Reserve

As for the Fed passing the special test above, their website claims that the Federal Reserve is an, “independent entity within the government, having both public purposes and private aspects.” Try explaining that to an eleven-year-old.

But you don’t even need that special test to know the Federal Reserve is a shady institution…

These guys have loaned out trillions of government (as in yours and my) money to a host of undisclosed recipients. They bullied Bank of America into buying up Merrill Lynch – with Treasury Secretary Hank Paulson using such colorful language as “the turd in the punchbowl,” to describe BofA’s hesitation on closing the deal.

And that’s just the start of it.

From an Inspector General that attests to knowing nothing about nothing to a host of special initiatives that propped up bubble-era compensation levels, it’s become abundantly clear that “gangster capitalism” rules the U.S. And the beating heart of the U.S.’s gangster capitalism is none other than the Federal Reserve.

But nobody cares. The herd is complacent. Why? Decades of fattening. A lifetime of bubbles and trillions in promises of future payouts have lead most right-minded Americans to count their eggs before they’re hatched. Which is a shame, because when the day of reckoning comes, complacence will be punished as guilt.

Good luck Ron.

Hit this website to get your representative’s contact information, and join the fight to restore the American government to its rightful size and power.

Yours in Personal Sovereignty,
Matthew Collins, A-Letter Editor

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Errores Puntuales - !Mamá, está vez es diferente!

Hay que recordar que los billetes emitidos por la FED (Fed Notes) circulan por el mundo como si fueran Treasury notes, y simplemente no lo son.

Los billetes de dollar, están emitidos por una entidad privada, que está en quiebra.

¿Cuanto valen?
¿quizás un 10%?
¿Quizás cero?

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http://www.syti.net/ES/Revolution.html

Se han reunido un grupo de fans de "helicopter ben" y le dedican unas lineas muy cariñosas

Rep. Ron Paul so far has won 245 co-sponsors to a bill that would require a full-fledged audit of the Federal Reserve by the end of 2010.

All of a sudden, Congress is paying close attention to Ron Paul.

The feisty congressman from Texas, whose insurgent "Ron Paul Revolution" presidential campaign rankled Republican leaders last year, now has the GOP House leadership on his side -- backing a measure that generated paltry support when he first introduced it 26 years ago.

Paul, as of Tuesday, has won 245 co-sponsors to a bill that would require a full-fledged audit of the Federal Reserve by the end of 2010.

Paul attracted just 18 co-sponsors when he authored a similar bill, which died, in 1983. While the impact Fed policies have on inflation is once again a concern, fears about loose monetary policy and excessive federal spending appear even more widespread in 2009.

"In the past, I never got much support, but I think it's the financial crisis obviously that's drawing so much attention to it, and people want to know more about the Federal Reserve," Paul told FOXNews.com.

With the Federal Reserve holding interest rates at rock-bottom levels, pumping trillions into the economy and now poised to have new powers to oversee the financial system under President Obama's proposed regulatory overhaul, Paul said lawmakers want transparency.

"If they give them a lot more power and there's no more transparency, that'll be a disaster," he said.

The bill would call for the comptroller general in the Government Accountability Office to audit the Fed and report those findings to Congress. The GAO's ability to conduct such audits now is severely restricted.

A slew of top Republicans are backing the bill, as are many Democrats.

"Ron Paul has the right idea on this," said Sen. Jim DeMint, R-S.C., who supports similar legislation in the Senate. "I'm just hoping we can get a clear audit. ... We need to know what they're up to."

House Republican Leader John Boehner, who signed on as a co-sponsor this month, wrote in a recent blog post that the "lack of transparency and accountability" regarding federal dollars committed by the Fed and Treasury Department raise "serious concerns" and make an audit critical.

"The Federal Reserve Transparency Act would remove all of these restrictions, and allow GAO to get real answers from the Federal Reserve to protect American taxpayers," Boehner wrote.

Unfortunately for Paul, the bill appears to be idling in the House Financial Services Committee, which is chaired by Barney Frank, D-Mass. The bill has been sitting there, gathering co-sponsors, since Paul introduced it in late February.

"You've kind of got to rely on the Democratic leadership (to move the bill along)," a Boehner aide said. "I haven't heard a lot of support from Chairman Frank."

Calls to Frank's office were not returned.

Paul acknowledged that his bill hasn't advanced but said Frank has "promised" him he will deal with his bill and is willing to give it a hearing. Paul said it's easily got the "momentum" to pass the full House.

A representative with the Federal Reserve could not be reached for comment.

Obama, though, voiced confidence in Fed Chairman Ben Bernanke last Tuesday and defended the Fed's overall ability to regulate effectively as well as his proposal to give the body more power.

"If you look at what we've proposed, we are not so much expanding the Fed's power as we are focusing what the Fed needs to do to prevent the kinds of crises that are happening again," Obama said. "We want that power to be available so that taxpayers aren't on the hook."

Sen. Bernie Sanders, I-Vt., introduced a bill similar to Paul's in the Senate in March, which so far has attracted just three co-sponsors -- DeMint and Republican Sens. David Vitter of Louisiana and Mike Crapo of Idaho.

But DeMint told FOX News last week that the measure would have a good chance of passing the Senate if supporters can push Paul's to a vote, which he said would be successful, in the House.

"I think if we can get that much attention on this bill, I don't believe senators could vote against it, if people knew what they were voting for because everyone is suspicious of the Federal Reserve," DeMint said.

Paul's underlying goal is to abolish the Federal Reserve, which he finds contemptible.

"I blame almost everything on the Fed because they create the bubbles, they create the credit," Paul said.

But the move to require an audit, which Paul described as "neutral," puts him a bit more in the congressional mainstream.

That's a change of pace. The long-time congressman's GOP primary bid was decidedly outside the mainstream. His campaign drew enthusiastic support last year, and though it wasn't enough to pose an electoral threat to the top candidates, he even staged his own September counter-convention in Minneapolis -- down the road from the official Republican National Convention in St. Paul. His "Rally for the Republic" drew more than 10,000 supporters and was complete with a rock band and a slew of faux-delegates wielding signs for their states.

Paul frequently plays the role of party and congressional outsider. Most recently, he was the lone "no" vote on last Friday's resolution to condemn the Iranian government's crackdown on protesters.

He cited constitutional concerns in that vote, as he has in his criticism of the Fed and a slew of other issues.

"The whole process is unconstitutional. There is no legal authority to operate such a monetary system," Paul said in February, in a statement calling for Washington to "end the Fed." He introduced the Federal Reserve Transparency Act the following day.


Mr. Sunshine? Ron Paul Wins Support to Audit Fed Reserve - Political News - FOXNews.com

ROTHSCHILD'S FEDERAL RESERVE MUST BE ABOLISHED



July 6th, 2009 7:11 AM
Allen L Roland, Ph.D.

The history of the Federal Reserve is an ongoing battle between the Banking elite and the people and anyone who gets in the way is usually crushed. Bush and Obama's top down Wall Street bank bailout, at the expense of Main Street, is a good example of why Rothschild's Federal Reserve must be audited and eventually abolished: Allen L Roland

The Fed (which is not even a government agency, but rather a private corporation consisting of mostly foreign bankers and answers to no one) dictates America's financial policies and is the obvious conduit for the banking elite to control the financial world and, in particular, the New World Order.

And now Obama wants to give even more power to the Fed as Eliot Spitzer writes today in Slate ~ " The Fed botched banking regulation once already. So why does Obama want to give it more power? " Spitzer goes on to elaborate on the main problem with the Fed ~ " The United States should not lightly put our fate back in the hands of the very entity whose oversight of the economy and financial sector brought us into the abyss. The Fed's lack of accountability and transparency is no longer justified by its record or sound principles or public policy. Granting the power without asking the tough questions would be following the path of least resistance ~ Has any thought been given to refocusing on a financial services model that has more smaller institutions and fewer mega banks, thus diversifying risk? Others, no doubt, will have more probing questions for the Fed; and President Obama, Treasury Secretary Timothy Geithner, and Congress should listen to them before they grant the Fed vast new powers." The Fed botched banking regulation once already. So why does Obama want to give it more power? - By Eliot Spitzer - Slate Magazine

To fully understand the Fed ~ you must review its dark history of greed and manipulation which begins with the Rothschild's.

TIME LINE OF THE ROTHSCHILD OWNED FEDERAL RESERVE BANK

1791-1811: Rothschild's First Bank of the United States.

1816-1836: Rothschild's Second Bank of the United States.

1837-1862: Free Banking Era - no formal Central Bank through the efforts of President Andrew Jackson, who , according to Jackson, the Rothschild's later tried to assassinate.

1862-1913: System of National Banks through the efforts of President Andrew Jackson.

In 1862 Abraham Lincoln issued his own fiat money to finance the Civil War and bucked the New York Banks who wanted to charge the government 24- 30% interest on any loans. Lincoln was assassinated on April 14, 1865.

President James Garfield tried to buck the banks and was assassinated on July 2, 1881.

1913-Current: President Wilson Federal Reserve Act creates a consortium of privately held Jewish & associated banks called the Federal Reserve Bank. The largest shareholders of the Federal Reserve Bank are the Rothschild's of London holding 57% of the stock which is not available for public trading.

On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. A smear campaign against McFadden ensued and he was poisoned 3 years later.

On June 4th 1963, John F Kennedy signed Executive Order 1110 which returned to the U.S. Government the power to issue currency without going through the Federal reserve. With the stroke of his pen, President Kennedy was on his way to putting the Federal Reserve Bank of New York out of business ~ for that order gave the U.S. the ability to create its own money backed by silver. Five months later on November 22, 1963 Kennedy was assassinated.

Watch this outstanding ten minute video on the ominous and treacherous path of the Rothschild's ~ a path of greed, manipulation and corruption which continues to this day under the unaudited and secretive rule of the Federal Reserve Bank. YouTube - Criminal Rothschilds
Congressman Ron Paul wants to audit the Federal Reserve. His bill to do this (HR 1207) already has 55 listed co-sponsors, and Congressman Paul's website says the list will soon be up to 90. Bernie Sanders has introduced a similar bill in the Senate (S. 604).

Tell your Congressman to co-sponsor Ron Paul's
Audit the Fed bill. Join me and Sign the petition: Campaign For Liberty — Petition Congress to Audit the Federal Reserve

Campaign For Liberty — Petition Congress to Audit the Federal Reserve

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