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- z0rk, on 06/26/2009, -8/+78Will we ever learn from our past, or are we just doomed to continue this corrupt and failed system?
- monkeywithgun, on 06/27/2009, -7/+72Bernanke doesn't want the federal reserve audited because he knows heads will roll, starting with his.
- kspanks04, on 06/27/2009, -1/+43Ben Bernanke: "Pay no attention to that man behind the curtain."
- NorthMass, on 06/27/2009, -4/+45Because Ron Paul's bill would expose how ridiculous the Federal Reserve runs itself.
- inactive, on 06/27/2009, -5/+42The Fed isn't a governmental institution, NoBrains. It's a private, multinational, ethnopolistic banking cartel.
- inactive, on 06/27/2009, -3/+38Another big government neocon who is afraid of taking a dose of his own medicine.
Classic. - inactive, on 06/27/2009, -1/+27"The government will audit the Fed as they do now." You never cease to amaze with your lack of knowledge. Is there anything you DO know? The Fed has never been audited. The Fed is NOT Federal nor in any way shape or form tied to the Federal government. The Fed has usurped the power of Congress to coin money and is singlehandedly responsible for every economic mess that has come about since it's inception.
Seriously, could you at least respond with a comment showing some semblance of knowledge or do you like looking like a moron and constantly responding with complete and utter tripe? - Pssdoff, on 06/26/2009, -4/+28Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges... which are employed altogether for their benefit.
- govtdoesnotwork, on 06/27/2009, -1/+23Auditing the Fed is still a fine idea, even though they claim to already be audited. But let's keep a bit of an eye on another ball, shall we?? I think we're missing something BIG, and it's something I suspect has been rapidly going to China.
Fort Knox was last audited during the EISENHOWER administration. I'm an old fart, and I wasn't even BORN when it last happened. Given the opaque nature of the gold market, especially recently, and the profusion of paper gold in what are likely to be naked shorts on COMEX, might it not be a good idea to audit Fort Knox again, just for old time's sake??? Why the hell is "trust us" adequate for storage of the taxpayers' precious metals???? - emazur, on 06/27/2009, -2/+22They never were independent to begin with, and bowing down to political pressures is what got us into this mess in the first place. The Fed actually identified the bubble several years ago, but failed to do anything about it b/c of political pressure. Watch this interview:
http://www.youtube.com/watch?v=LW1SYKanO-Y
http://www.youtube.com/watch?v=m9cFiQbrL4w
http://www.youtube.com/watch?v=dD0mQMhMhbs
So who is controlling and/or pressuring the Federal Reserve? The Council on Foreign Relations (CFR). In 1918, Paul Warburg (uber-rich banker and the chief architect of the Federal Reserve Act) stepped down as Vice Governor of the Federal Reserve Board due to the suspicion cast upon Germans b/c of World War I. It was of no concern though, as Warburg went on to found the Council on Foreign Relations, which has been pulling the strings of the Fed ever since. All the way up through Clinton, Bush, and Obama (yes, his cabinet is full of CFR members, and his wife is also a member). Take a look at the quotes below that span the decades to get a better idea of how things work:
The real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over the city, state and nation. Like the octopus in real life, it operates under the cover of a self created screen. At the head of this octopus are Rockefeller [CFR] Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually run the United States Government for their own selfish purposes. They practically control both political parties.
-1922-
John F. Hylan
Mayor of New York 1918-1925
"The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson, and I am not wholly excepting the Administration of W.W. [Woodrow Wilson]. The country is going through a repetition of Jackson's fight with the Bank of the United States only on a far bigger and broader basis." -FDR, in a letter to CFR architect Edward Mandell House
source:
http://en.wikiquote.org/wiki/Franklin_D._Roosevelt
"For a long time I felt that FDR had developed many thoughts and ideas that were his own to benefit this country, the United States. But he didn’t.
Most of his thoughts were carefully manufactured for him in advance by a Council of Foreign Relations-One World Money Group. The United Nations is but a long range, international banking apparatus clearly set for financial and economic profit by a small group of powerful One-world revolutionaries, hungry for profit and power.
The One-world government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately own Federal Reserve bank."
-quote from his book FDR: My Exploited Father-in-Law
Curtis Dall (FDR son-in-law)
"Does it not seem strange to you that these men just happened to be CFR, and just happened to be on the Board of Governors of the Federal Reserve that absolutely controls the money and interest rates of this great country without benefit to Congress? The Federal Reserve is a privately owned organization, which has absolutely nothing to do with the United States of America!" - Senator Barry Goldwater, 1964 Republican Presidential candidate
http://tpmcafe.talkingpointsmemo.com/2008/11/22/wh ...
Wall Street's self-serving view of the unique role of financial institutions is mirrored in the two agencies that run the American economy -- the Treasury and the Fed. Their job, as they see it, is to keep the financial economy "sound," by which they mean keeping Wall Street's own investors and creditors reasonably happy. -Robert Reich, former sec. of labor under Bill Clinton - bonmot5, on 06/27/2009, -5/+25You didn't know that the federal reserve is privately owned? That surprises me. Is it possible that you could be moving away from the dark side? Remember, just because we criticize our government doesn't mean we don't love the United States. In fact, I'll venture to say this, we love our country as much as you do, if not more! I'm sure we love it more than the zombies that are watching dancing with the stars every night.
- BuzzFriendly, on 06/27/2009, -0/+19A FRB audit should be done default. We the US taxpayer should not even need to ask for this to be done. Obama said transparency so lets see some of it.
- inactive, on 06/27/2009, -6/+25The Federal Reserve is a private bank.
But hey don't let those pesky facts get in the way of shilling for more pro-Zionist big government propaganda. - inactive, on 06/26/2009, -10/+28The gold standard was working perfectly until we let the bankers organize and run the Fed. Their expansion of the money supply way beyond the gold in circulation caused the bubble that burst in 1929 and brought on the Great Depression.
Without a central bank, the money supply would not have expanded rapidly > there would have been no bubbles > there would have been no Depression. - BuzzFriendly, on 06/27/2009, -0/+16You know you don't need to like Ron Paul or want a gold standard to DEMAND a Federal Reserve Audit. What could possible be your excuse for not auditing the Federal Reserve? Can you give one reason not to audit the Federal Reserve? Hell it should even be something as a tax payer that we should even have to ask for it should be done by default. The Federal Reserve examines every Federally chartered banking and saving institutions in the US. The Federal Reserve along with the FFIEC REQUIRES all institutions to have an internal audit with controls and external independent audit and is one of the very first things they ask for once the begin a examination. So again I ask why would you not audit the Fed? The only plausible reason to not want a audit is if you have something to hide. My guess is you have absolutely no idea how the Fed works and most likely have no idea what an auit is or what it is for.
- maeon3, on 06/27/2009, -1/+16Secrecy is absolutely necessary in maintaining a corrupt organization.
- Xplorer, on 06/27/2009, -2/+16Don't Feed The Trolls Kids....
- Princeamor, on 06/27/2009, -6/+20RON PAUL IS THE MAN!!!
- blipblopblip, on 06/27/2009, -1/+15Name a news source you do consider reliable...
- tunafizzle, on 06/27/2009, -2/+14Bernanke operates the fed FAR more transparently than Greenspan ever did, but god damn his voice real shakey during his first response.
If Bernanke's rather ***** claim of the economy collapsing actually held true then I'm all for it. Finally bringing in a real Central Banking system (like almost every other nation) would help us here. Plus it would finally break the Bretton-Woods system; so could finally stop ***** ourselves and others abroad. - blipblopblip, on 06/27/2009, -3/+14You guys want to keep your eye on the ball to make sure the IMF isn't proposed as the solution to the collapse of the Fed.
- BuzzFriendly, on 06/27/2009, -0/+10Sadly this seems to be a common trait among politicians.
- zoom1928, on 06/27/2009, -1/+11Obama said transparency, but he has proved time and time again that he lied about that.
- ZenMojo, on 06/27/2009, -0/+10"If you watch us, you'll catch us with our hands in their cookie jar. And then there won't be any crumbs for you."
- iletumi, on 06/27/2009, -1/+10FTA: its disastrous effect on the dollar, which lost 96% of its value since the Fed was established in 1913.
Gold Standard was not being used properly once the Fed took over which is why ***** went to hell.
"Let me issue and control a nation's money, and I care not who writes its laws" --- Mayer Rothschild - inactive, on 06/27/2009, -1/+10How would closing the banking system help Ron Paul's investments in precious metal?? It would stop inflation therby causing a collapse in precious metal prices??
- CanIGetAWitness, on 06/27/2009, -0/+9More "opinions" disquised as "threats" from the banksters.
- govtdoesnotwork, on 06/27/2009, -1/+9Any concrete example, whatsoever? From you?
Apparently unlikely. - cjsmith87, on 06/27/2009, -0/+7THE CONGRESS MAN!!
- KingChewingGum, on 06/27/2009, -2/+9jwkpiano1,
Nearly every country in the world went off the gold standard during WWI to allow them to inflate the hell out of their currency and fight a protracted, and ultimately disastrous, war. The Federal Reserve was started in 1913 - By playing fast and loose with monetary policy they inflated the stock bubble in the '20's. This was not a true gold standard at all because the monetary policy countered the advantages of the gold standard and basically ignored the entire quantity theory of money. - wilkinscs1, on 06/27/2009, -0/+7I think this is just even more proof that it needs to be done... I mean, congress is supposed to have control of this ***** anyway, right?
- ichbinladen, on 06/27/2009, -1/+8Someone should remind Bernanke that Congress is his boss. They alone have the power to revoke the Federal Reserve Bank's charter.
- inactive, on 06/27/2009, -4/+10Ben better have his parachute packed. I volunteer to pack it for him. Once he gets rid of the anvil, I'm sure the chute will open...eventually.
- goffy59, on 06/27/2009, -1/+6 There is no logical reason not to audit the fed. They just don't want us to know how corrupt the Federal Reserve is. This is the first step in stopping the current corruption. Wake up America!
- smdyson, on 06/27/2009, -0/+5I'm sorry you're so ignorant Dark.
Like Buzz said, just because you don't like Ron Paul, doesn't mean you should instantly shoot down all of his legislation ideas. That is, in my opinion, our greatest problem. We have these labels of democrats and republicans that people just can't seem to get past. A democrat or republican could come out with an incredible legislation that would help everyone out and nearly half of Americans would be against it based on his political party. They wouldn't even have to know what the legislation is to know they don't want it.
It goes the same for same party legislation. A republican or democrat could want a law passed to only allow 1 child per family and a large majority from that congressman's political party would support it just because of the title of the party.
I'm not saying everyone taking a political side is a blind following sheep, but it seems like many are and it makes me sick that adults can have this train of thought. - nedzeve, on 06/27/2009, -0/+5The Fed board is appointed by the President and approved by the Senate. They pretty much tell the banks what to do. If the Fed chair is really controlled by the banks (and not the other way around), then why is BofA whining about how bad Ben told them they had to buy Merrill?
- thrashertm, on 06/27/2009, -0/+5Yeah dude, because the Federal Reserve has been doing such a GREAT job running the economy. Our currency has lost 96% of its value since they took over, and we've had numerous terrible recessions and 2 "depressions" (we are going through #2 now).
GG Fed! - stockjones, on 06/27/2009, -0/+5Newt Gingrich wanted to do this years ago during the Reagan years. Do you think anyone Democrat or Republican wanted to do it...No. Politicians are politicians regardless of party.
- mr5150, on 06/27/2009, -1/+6"Finally bringing in a real Central Banking system (like almost every other nation) would help us here."
is an epic fail
all you are doing is moving the power of criminal behavior from banksters to politicians.....what is the difference?
a central banking system is not the answer....fully backed currency is.
however if you are heavily invested in fiat and making an earn of it then you may not like sound monetary principles. - undervalued, on 06/27/2009, -2/+7The answers are No, Yes. I know its pessimistic but the current generation always thinks its smarter than the last.
- thrashertm, on 06/27/2009, -1/+6Bernanke - "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.”
Yeah, the dollar has lost 96% of its value since the Fed took over in 1913, and this latest financial mess is just another in a long line. Not a very good track record. - smdyson, on 06/27/2009, -1/+5Bernanke's comments are a scare tactic to make Americans think that if they are audited our financial system will collapse even more so. He's fear mongering and it won't work because people are upset about our situation and want answers.
They have given out trillions in loans and they will not tell Congress who they went to. Their response is basically "you don't need to know". That throws up a red flag for me saying they need to be audited. Anyone who argues that, I'd like an explanation. - fourdoorchev, on 06/27/2009, -0/+4If you go gold standard like the constitution says than governemnt will be unable to manipulate the currency.
one step at a time . first is to audit the fed
second end the fed
3rd install sound money and get rid of the printing presses
problem solved, markets then cannot be artificially inflated and manipulated by secretive crony capitalist to do each other favors - Meor, on 06/27/2009, -2/+6Ron Paul writes a check back to the Treasury Department every year returning his congressional bonus and votes every time against congressional pay increases. What the ***** has your congressman done to put his money where his mouth is and reduce spending?
- Richandler, on 06/27/2009, -3/+7What it means is wealth can never really be accumulated and saved. If you save your self $100 today, in 30 years in may only buy you $70 worth of stuff. Where did that money go? It was printed essentially out of thin air and because it was printed government can pay off it's debt for cheaper, but because you saved you can't buy as much. In other words, they taxed you without you even knowing it.
- tehmacuser, on 06/27/2009, -4/+8Privately owned banks controlling this country's money supply and its policy is not a ***** "technicality". I think you're the one who doesn't see the real world terms here.
- sinestra, on 06/27/2009, -0/+3Are you sure about that?
- rahsut, on 06/27/2009, -0/+3wait, you thought that obama was different from other lying, scheming politicians? why?
- mouthbreether, on 06/27/2009, -0/+3The commerce clause of the United States Constitution already gives Congress this power. And don't tell me the Federal Reserve, one of the most powerful institutions in the entire world, experiences no external influences on policy decisions.
- sinestra, on 06/27/2009, -0/+3Although putting control in politicians' hands does sound problematic, the answer is not to simply leave the Fed alone to continue to cause worldwide financial havoc as apparently they have done on numerous occasions. I truly don't understand those who cannot see the connection between the Fed and the Top 1% moneyed class who control the vast majority of our wealth- chances are you're not one of them so why are you blindly supporting their interests above your own?
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