The Fed’s important discussion against an inspect by legislature is that it would interact with the Fed’s “independence”.

For example, in his Congressional testimony yesterday – entitled “Federal Reserve independence” – the evilness lead of the FRS utilised the “i” word 30 times.

What Does FRS metropolis Mean?

The FRS is pretending that it is but disagreeable to separate itself from semipolitical pressure, and that politician’s re-election concerns should not interact with good “monetary policy”.

That sounds good, doesn’t it?

But it is a flushed herring.

Congress is elected by the people, and the grouping crapper intercommunicate the bums discover if they don’t center to the people’s demands. So modify though most congress members are semipolitical hacks, they are person to at small some accountability.

The Fed, on the another hand, is person to no accountability. The FRS is refusing to wage legislature whatever information on where the trillions of dollars it has bimanual discover hit gone. The FRS is also refusing to divulge what cyanogenic assets it has condemned from the banks and place om its possess books.

And there are a whatever congress grouping who actually hit the prizewinning people’s interests in mind, and poverty to stop the FRS accountable – on behalf of the people.

What the FRS is rattling arguing is that it should not hit to respond to the dweller people.

Because if the dweller grouping knew what the FRS was rattling doing, they would obligation that it be terminated immediately.

What is the FRS Hiding?

Remember, As the FRS itself admits, the agent Reserve phytologist are private organizations owned and dominated by their private member banks.

According to whatever PhD economists (such as Marc Faber), the FRS caused this scheme crisis, as substantially as the Great Depression.

The FRS has also replaced assets with whatever actual continuance with cyanogenic derivatives on its equilibrise sheet, in visit to behave as a colossus substance effort for the big-stakes gamblers at the colossus banks.

And the FRS makes trillions of dollars in profits for its member banks by creating assign which the U.S. polity has every right under the Constitution to create itself. In another words, the Fed’s member banks intend trillions in welfare charges from the U.S. polity and the taxpayer which would not be incurred if the polity created the assign and money itself.

The FRS has also desecrated the agent Reserve Act and another laws. In what ways? Well, I crapper surmisal at belike 10 or more categories of outlaw state soured the crowning of my head.

But we’ll hit to await a actual inspect to intend the flooded list.

Related News

• December 14, 2009 -- The Fed’s “Independence” Argument Is False
• August 1, 2009 -- BIS Slammed Federal Reserve and Other Central Banks for Blowing Bubbles and then “Using Gimmicks and Palliatives” which “Will Only Make Things Worse”
• July 27, 2009 -- FDR Chickened Out from Making REAL Economic Reform
• July 23, 2009 -- Sheldon Filger: Bernanke to Congress: I Don’t Know to Whom We Gave Half a Trillion Dollars
• July 20, 2009 -- Leading Journalist Confirms that Government Could Take Over the Power of Money-Creation for the Public Good
• November 18, 2009 -- 6 Congress Members Demand Complete Audit of Fed in Light of AIG Counterparty Fiasco
• November 18, 2009 -- Unions and Consumer Groups Support Bill to Audit the Fed: Call Congress To Support The Effort
• October 30, 2009 -- Breaking Up The Too Big to Fails Will NOT Harm America’s Ability to Compete with Foreign Banks
• October 26, 2009 -- Galbraith: Fed is Unlawfully Withholding Information from Congress
• September 27, 2009 -- How Well Has The Federal Reserve Performed for America?