Glenn Beck has been doing a lot of investigation into the secrecy of the Fed and yesterday's program revealed how Goldman Sachs members have very dirty hand from the manufactured economic crisis that led to the TARP bailouts. It is still being debated whether or not the TARP funding was a "necessary evil" due to the dire straits that our banking industry was in back then. However, when you see that the TARP money was suspiciously NOT given to Goldman Sachs competitors (Lehman Bros. etc.) it should raise the eyebrows and ire of every American! It is part and parcel of the ongoing deception of the ObamaFRAUD Admin. and his evil cohorts in Congress that stinks from here to high heaven!
Excerpt from Norris' article:
I agree with Judge Andrew Napolitano, who said last week, "We know more about the CIA than we do about the Federal Reserve."
The Federal Reserve is the Freemasonry of government agencies. It is a virtual secret society unto itself -- a group of unelected brokers who hold the value of our dollar in the palms of their hands. This one agency, with its power to raise and lower interest rates, has exercised more control over the economy than any other government body.
So with that type of single-handed power, why should we be surprised that the U.S. Senate blocked a bill last week to audit the Federal Reserve? 'Tis true! Rep. Ron Paul and more than half of his colleagues in the House co-sponsored the Federal Reserve Transparency Act, HR 1207, which they hope to have hearings on soon. On the Senate side, Sens. Jim DeMint, Mike Crapo and David Vitter co-sponsored S 604, companion legislation introduced by Bernie Sanders. But it was stopped cold before even being introduced on the floor on "procedural grounds."
So why does this federal agency need a complete auditing? It's very simple: America is in the worst economic situation since the Great Depression; the value of the dollar is tanking on the world market; and the Federal Reserve wields the greatest power to control it, with virtually no accountability -- let alone that the American people and even Congress have virtually no knowledge of what those inside are doing day to day.
The way I see it, there are two primary problems with the Federal Reserve. First, its very existence is a sheer contradiction of the 10th Amendment to the Constitution. As Ron Paul explained last week: "Our Founding Fathers never intended for a single entity such as the Federal Reserve to have this much power. In fact, there is no authority in the Constitution for the federal government to create a central bank, to enact legal tender laws, or to print paper money. The Tenth Amendment is quite clear that 'The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."
Secondly, the Federal Reserve is flat-out bad for the economy in the long run because it creates false fronts or temporary escalations in the free market, which eventually cycle around and lead to downturns or more need for other Fed fixes. Even if it creates several cycles of credit rushes (which it deems as "signs of prosperity"), sooner or later, the false foundation crumbles and we find ourselves in an economic hole that the Fed can't bail us out of -- which is exactly where we are now in this recession.
The fact is the Federal Reserve is one of the best examples of government control run amok and its oppression over its people. It rules by dangling carrots, cheap rates and loans before the American public, which in turn oppresses people by their inability to resist further debt. The Fed is the dealer in greed and debt, and its drugs are easy money and credit. Under the Federal Reserve System, Americans and our economy have to return to the Federal Reserve for repeated fixes like a drug addict. Otherwise everything goes into the tank.
Continue reading here.
Why does it not surprise me that the Demoncrats in Congress blocked a bill to audit the Fed? I used to label them as "clueless Congress" - and some of them are really clueless about the real America and GENUINE Americans who write, call and email for them TO STOP SPENDING MONEY WE DON'T HAVE!! But Nancy PeLIARsi, Harry ReiDUNCE, Chuck ShuMESS, Barney "never held a real job" FranKOOK and all the rest of the corrupt, lying, cheating, unconstitutional HACKS in Washington D.C. KNOW THEY ARE RUINING THE COUNTRY OUR FOUNDING FATHERS CREATED FOR US - AND THEY JUST DON'T CARE!
VOTE THEM ALL OUT AMERICA!!! PLEASE!!!!
Hat Tip:
Human Events
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Update:
While reading through the comment section at Human Events, I discovered this:
EXTRA materials at Chuck's exclusive
The World Net Daily exclusive version of the same article has at least double the content!
http://www.wnd.com/index.php?fa=PAGE.view&pageId=103762
Here's an example of what else Chuck said:
"Could it really be a mere coincidence that the bill to audit the Federal Reserve was refused from even being introduced and that this agency remains the “quick convenience store-house of money” for the Obama administration’s borrowing and bailout monies?
"Again, as Judge Napolitano said, “The Obama administration not only doesn't want the Federal Reserve audited, it now wants to put the power to regulate all financial institutions �quot; banks, insurance companies, brokerage houses �quot; into the hands of this super-secret bank. What are they afraid we might see if we get a chance to look at their books?”
"As if there are not enough signs of the Fed’s inadequacy,two expert economists on the Federal Reserve specifically warned Congress last Thursday not to expand the power of the Fed to oversee and monitor public financial structures. Allan H. Meltzer, professor of economics at Carnegie-Mellon University and one of the central bank’s most prominent historians, having written a three-volume reference work on it, conveyed a series of U.S. financial collapses over the past three decades in which the Fed had either failed to take preventive action or made things worse.
"And the White House and majority on Capitol Hill want to give the Federal Reserve more power and autonomy? Have they finally lost their minds?
"On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act, creating a seven-member board of governors (appointed by the president and approved by Congress) and 12 regional banks. From thereafter, banks continued lending money to the public, but the Fed controlled the flow of money via fluctuating interest rates and the tides of credit and money supply and demand. (This was the gravest governmental mistake in 1913. A close second was the ratification of the 16th Amendment to the Constitution, which mandated income taxes as national law.)
"We need to return to a country that lives within its means--that steps off the credit merry-go-rounds to a pay-as-you-go republic, as it was in the beginning. I believe that so firmly that the only chapter on financial recovery I included in my New York Times best seller, “Black Belt Patriotism,” is simply titled “Stop America’s Nightmare of Debt.” In it I advise a return to the fiscal prudence of men like Thomas Jefferson. Jefferson was not opposed to borrowing, but he did recognize the danger of ballooning government deficits and increasing taxes. He elaborated to George Washington, “I am anxious about everything which may affect our credit. My wish would be, to possess it in the highest degree, but to use it little.”
"It’s unfortunate that more leaders today didn’t agree with Jefferson, or James Madison, who said at the time, “I go on the principle that a public debt is a public curse.” Jefferson’s attitude toward debt was simple, and he gave the best advice one could get: “The conclusion then, is, that neither the representatives of a nation, nor the whole nation itself assembled, can validly engage debts beyond what they may pay in their own time.” They believed in the biblical precedent, “the wicked borrows and does not repay.”
Check it out at http://www.wnd.com/index.php?fa=PAGE.view&pageId=103762
Jul 15, 2009 @ 12:33 AM Sean H., Oregon