Posted on 09/03/2009 4:39:19 PM PDT by all the best
Since H.R. 1207 was introduced by Dr. Ron Paul in Congress this February, there has been a growing movement questions whether the Fed should continue to operate without more oversight and some question whether or not the Federal Reserve should continue to operate at all.
Currenty, Paul’s “Audit the Fed” legislation has 282 co-sponsors and there are two similar pieces of legislation in the senate. If the legislation is passed, it will allow the Government Accountability Office (GAO) to review the Federal Reserve’s balance sheets and their policy deliberations and monetary transactions. Currently Federal Reserve Chairman, Ben Bernanke, opposes the plan, saying it would undermine the Fed’s independence.
The “Audit the Fed” act has a real chance in passing, but some supporters of the legislation, including Ron Paul, want to take it further than that by ending the Federal Reserve all together. Paul introduced a piece of follow-up legislation, entitled H.R. 833: The Federal Reserve Board Abolition Act which would wind down and eliminate the Federal Reserve over the course of the year. Currently, the act has no co-sponsors, but is gaining a lot of grass-roots support. Paul hopes that members of Congress will join his movement to end the Federal Reserve after they see the results of a full audit of the Federal Reserve. Paul also authored a book about his proposal to end the Federal Reserve, entitled “End the Fed.”
Although the movement is in its infancy and still gaining momentum, it’s not too crazy to think that the United States wouldn’t be better off without the Federal Reserve. Since the Federal Reserve System was brought into force into 1914, the United States economy has grown at a slower pace than it did before 1914, despite significantly improved productivity. The rate of inflation has been substantially worse since...
(Excerpt) Read more at americanbankingnews.com ...
Am I supposed to be impressed? IMHO, education from the so called best universities in this country doesn't carry all that much weight anymore. Churning out elitists who think we are all stupid, putting their theory ahead of any sort of common sense has only accelerated our downfall. Harvard? Ha, look at Obama!!!
What are you talking about? What is 'the Jewish cabal'? Would not 'sunlight' into and upon the Federal Reserve prove your claim meaningless?
Oh yes it is so complex that US stupid little Americans better not mess with a draining sink.
Recently this Berenake (sp) told a group that he ‘saved’ the world economy. Now that word ‘saved’ was a most curious choice of words. Note he did not say he ‘saved’ US, but the world.
After the IRS collects our taxes where does the money go? The Treasury or the Federal Reserve?
Ah yes, "if you are against the Fed you are an anti-Semite".
I bet our forefathers never thought for a minute that the purse strings of our country would be in the hands of Loan Sharks.
It's because the Fed system of promoting credit bubbles nearly cost us our economy a year ago, and their current credit bubble promotion is placing us beyond the point of no return. The current flow of credit is toward speculation and malinvestment which raises resource costs for sustainable businesses and damages our future economic prospects. The equities market bears this out, most rise and volatility in nationalized financials like AIG and FNM followed up with some tech momentum/speculation.
Yes now. Hopefully it's not too late.
Credit union. Credit is completely mispriced. I get 1% on CD's backed by an insolvent FDIC. I can borrow at a ludicrously low 5% to purchase overpriced real estate, thanks to Fed distortion. Meanwhile a legitimate small business trying to expand has essentially zero access to credit or very high rates. I would love to loan my savings in CD form to a local small business if I could be assured that the Fed won't inflate my money while it is tied up. Without that assurance there's no way that long term capital will be used for anything other than speculation.
Uh oh. Now you've summoned the "all posters are stupid except for me" posters.
Really, who gets the money?
I’m sorry...but Ron Paul is the closest mind to the Founding Father’s we have in Congress. They spent a good deal of energy trying to prevent a central bank...
They never say who gets the money. They just keep repeating over and over that (you or whoever) are wrong.
So we have no idea where are taxes are going? For all we know the money goes to the Fed and then they lend it back to us with interest?
Well this stereotyping is like a bucket of ice water in the face. I was raised with the 'never again' think, and when that German socialist accused President Bush of being Nazi-like, Hitler-like, the 'bloom' fell off the figurative rose. There is no 'bite' now when the answer to anything is an accusation that one is 'anti-Semite'. Most especially now that it is plain for all to see who programs BamaKennedy's teleprompter and who is his chief of staff, and who is the 'god' behind his deathcare plans for old American grandmas, and and and and!!!!!
They actually did try to tell US, but sadly tooo many Christians were being told at the same time to turn the other cheek, right into bondage.
They did not believe that banks running the country was theoretical, they tried to make sure it would not happen by writing it in the Constitution.
Yes they did. But that part of the Constitution ceased to be 'taught' by the arm of government, 'public' education. But see as we have been warned to even inquire regarding a look see at the hidden books of the 'world's' bankers gets the accusation of committing the 'greatest' sin possible to be committed. I can use the term 'world's' bankers, because it was the head of the Fed that pronounced he had saved the world's economy.
I really 'feel' saved by the actions taken. The appearance of being a nonpolitical entity is forever gone.
Sorry I should have said, Yes you are correct. Not, Yes they did. MY BAD!!
I totally agree that the Fed is a “World” banking enterprise. Operates in secret not accountable to anyone!! That is downright scary!
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