pen_thief
10-03-2011, 06:24 PM
Here (http://www.facebook.com/notes/sarah-baybordi/the-federal-reserve-screwing-america-over-since-1913-and-proud-of-it/296927506987705)'s the actual link to the article.
But I'll paste it here for those of you who don't want to log in. ;)
The Federal Reserve: Screwing America Over Since 1913 and Proud of It
If you’ve been watching the Republican Debates, or what many people have referred to as the “Perry & Romney Show,” you might have been hearing something about the Federal Reserve. Last year, there was legislation that both Republicans and Democrats supported that aimed to audit the Fed. Although it passed the House, it was altered by the Senate (watered-down, if you will).
The Federal Reserve is essentially a private banking institution that prints out our currency. Most Americans don’t realize it, but the more money the Fed prints, the worse inflation gets. If one wants to complain about the rising costs of everything, the Federal Reserve is one of the most important places to be pointing the finger. It wasn’t too long ago that they reported $9,000,000,000,000 dollars missing (about $30,000 for every person in the USA) and no one seems to know where it went, not even the Federal Reserve Inspector General.
[ http://www.youtube.com/watch?v=cJqM2tFOxLQ ]
Oops.
Here are a few quotes on the subject that you can interpret however you’d like:
__________________________________________________ ____________
*2 days after the United States S&P credit downgrade*
(Host, NBC)
“Are U.S. Treasury Bonds still safe to invest in?”
(Alan Greenspan, Former Chairman of the Federal Reserve)
“Very much so. I think there’s a – this is not an issue of credit rating. The United States can pay any debt it has because we can always print money to do that, so there is zero probability of default.”
__________________________________________________ _________________
(John Duncan, Representative of Tennessee)
“Do you think it would cause problems for the Fed or for the economy if that legislation (HR 1207, a.k.a. ‘Audit the Fed’) was to pass?”
(Ben Bernanke, Chairman of the Federal Reserve)
“My concern about the legislation is that if the GAO (Government Accountability Office) is auditing not only the operational aspects of our programs and the details of the programs, but is making judgments about our policy decisions, that would effectively be a takeover of monetary policy by the Congress – a repudiation of the independence of the Federal Reserve which would be highly destructive to the stability of the financial system, the dollar and our national economic situation. “
__________________________________________________ _________
(Herman Cain, Republican candidate for President in 2012)
“Some people say that we ought to audit the Federal Reserve. Here’s what I do know. The Federal Reserve already has so many internal audits, it’s ridiculous. I don’t know where—why people think we’re going to learn this great amount of information by auditing the Federal Reserve. … I think a lot of people are calling for this audit of the Federal Reserve because they don’t know enough about it. There’s no hidden secrets going on in the Federal Reserve to my knowledge. … We don’t need to waste money with another commission or an audit that’s not necessary, because folks, we’ve got a lot of other problems we need to worry about.”
-Hermain Cain
__________________________________________________ ___________
(Ron Paul, Republican Candidate for President in 2012)
“There was a modified audit that was passed and this of course has revealed a lot of information and it’s shattering – even shocked me at times on how ruthless they are in using this credit, when you think about a third of the money that the Fed used went to foreign banks. This is an outrage, and the people are outraged. But we still have a lot of work to do. We do know they’re on the defensive. When Bernanke has to go and pretend to reveal all this information and give us transparency and have a press conference, you know they are concerned.”
__________________________________________________ ___________
Article 1, Section 8 of the U.S. Constitution
“The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States…”
__________________________________________________ ______
Here are my questions regarding the matter:
-Why would the Senate not pass the bill in its original form? Just who is benefitting from keeping the Federal Reserve's dealings hidden?
-What the HELL is Alan Greenspan thinking?!
-Is Bernanke suggesting that if we Audit the Fed, Congress would be taking a step back toward what they should have been doing all along per the Constitution?
Hopefully it'll do some good. I actually had someone tell me they liked Ron Paul but LOVED Herman Cain the other day.
Sigh...*shaking my head*
But I'll paste it here for those of you who don't want to log in. ;)
The Federal Reserve: Screwing America Over Since 1913 and Proud of It
If you’ve been watching the Republican Debates, or what many people have referred to as the “Perry & Romney Show,” you might have been hearing something about the Federal Reserve. Last year, there was legislation that both Republicans and Democrats supported that aimed to audit the Fed. Although it passed the House, it was altered by the Senate (watered-down, if you will).
The Federal Reserve is essentially a private banking institution that prints out our currency. Most Americans don’t realize it, but the more money the Fed prints, the worse inflation gets. If one wants to complain about the rising costs of everything, the Federal Reserve is one of the most important places to be pointing the finger. It wasn’t too long ago that they reported $9,000,000,000,000 dollars missing (about $30,000 for every person in the USA) and no one seems to know where it went, not even the Federal Reserve Inspector General.
[ http://www.youtube.com/watch?v=cJqM2tFOxLQ ]
Oops.
Here are a few quotes on the subject that you can interpret however you’d like:
__________________________________________________ ____________
*2 days after the United States S&P credit downgrade*
(Host, NBC)
“Are U.S. Treasury Bonds still safe to invest in?”
(Alan Greenspan, Former Chairman of the Federal Reserve)
“Very much so. I think there’s a – this is not an issue of credit rating. The United States can pay any debt it has because we can always print money to do that, so there is zero probability of default.”
__________________________________________________ _________________
(John Duncan, Representative of Tennessee)
“Do you think it would cause problems for the Fed or for the economy if that legislation (HR 1207, a.k.a. ‘Audit the Fed’) was to pass?”
(Ben Bernanke, Chairman of the Federal Reserve)
“My concern about the legislation is that if the GAO (Government Accountability Office) is auditing not only the operational aspects of our programs and the details of the programs, but is making judgments about our policy decisions, that would effectively be a takeover of monetary policy by the Congress – a repudiation of the independence of the Federal Reserve which would be highly destructive to the stability of the financial system, the dollar and our national economic situation. “
__________________________________________________ _________
(Herman Cain, Republican candidate for President in 2012)
“Some people say that we ought to audit the Federal Reserve. Here’s what I do know. The Federal Reserve already has so many internal audits, it’s ridiculous. I don’t know where—why people think we’re going to learn this great amount of information by auditing the Federal Reserve. … I think a lot of people are calling for this audit of the Federal Reserve because they don’t know enough about it. There’s no hidden secrets going on in the Federal Reserve to my knowledge. … We don’t need to waste money with another commission or an audit that’s not necessary, because folks, we’ve got a lot of other problems we need to worry about.”
-Hermain Cain
__________________________________________________ ___________
(Ron Paul, Republican Candidate for President in 2012)
“There was a modified audit that was passed and this of course has revealed a lot of information and it’s shattering – even shocked me at times on how ruthless they are in using this credit, when you think about a third of the money that the Fed used went to foreign banks. This is an outrage, and the people are outraged. But we still have a lot of work to do. We do know they’re on the defensive. When Bernanke has to go and pretend to reveal all this information and give us transparency and have a press conference, you know they are concerned.”
__________________________________________________ ___________
Article 1, Section 8 of the U.S. Constitution
“The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States…”
__________________________________________________ ______
Here are my questions regarding the matter:
-Why would the Senate not pass the bill in its original form? Just who is benefitting from keeping the Federal Reserve's dealings hidden?
-What the HELL is Alan Greenspan thinking?!
-Is Bernanke suggesting that if we Audit the Fed, Congress would be taking a step back toward what they should have been doing all along per the Constitution?
Hopefully it'll do some good. I actually had someone tell me they liked Ron Paul but LOVED Herman Cain the other day.
Sigh...*shaking my head*