Recent News on Domestic Enemy #1

 FED Abuse of Power


Feature Article:
Why the Fed Likes Independence - by Ron Paul
The Fed should be accountable to Congress because it is a creature of Congress.  The Constitution gives Congress the authority to oversee the integrity of the monetary unit.  We have unwisely and unconstitutionally delegated this authority to the Federal Reserve, which has in turn devalued our dollar by 95 percent and counting.  When the Federal Reserve engages in harmful policies, Congress is still ultimately responsible.  If the Fed is not made accountable through a GAO audit at least, it will continue to be accountable to no one, and that is unacceptable. 

Jim Rogers: Federal Reserve is Making the Depression Worse
2-2-10  • 
“What would be the first two things you would do if you were in Mr Ben Bernanke’s seat?” Jim Rogers:
“I would Abolish the Federal Reserve and Resign.”

Secret Banking Cabal Emerges From AIG Shadows: David Reilly
January 29, 2010, Bloomberg News

The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all. Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials. We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system -- apart from the matter of AIG’s bailout -- deserves further congressional scrutiny. The New York Fed is in the hot seat for its decision in November 2008 to buy out, for about $30 billion, insurance contracts AIG sold on toxic debt securities to banks. Treasury Secretary Timothy Geithner was head of the New York Fed at the time of the AIG moves. The hearing revealed some of the inner workings of the New York Fed and the outsized role it plays in banking. This insight is especially valuable given that the New York Fed is a quasi-governmental institution that isn’t subject to citizen intrusions such as freedom of information requests, unlike the Federal Reserve. This impenetrability comes in handy since the bank is the preferred vehicle for many of the Fed’s bailout programs. It’s as though the New York Fed was a black-ops outfit for the nation’s central bank.

Fed Worked to Keep AIG Deal Details Quiet
01-27-2010  •  Forbes 
Federal Reserve Bank of New York officials scrambled to do damage control in the days after their $180 billion rescue of American International Group in September 2008, including an effort to control information…

New York Fed documents reveal more detail about AIG bailout
01-24-2010  •  Washington Post 
Records show that Geithner participated in nearly 70 calls between 7:45 a.m. and 10 p.m. on Tuesday, Sept. 16, as officials worked to stabilize AIG -- first through private loans and finally through public assistance.


The Fed is a Ponzi Scheme by Alan Adaschik
01-16-2010  • via e-mail 
The Federal Reserve Bank truly is a den of thieves and con artists who have stolen the wealth and prosperity of an entire nation.


Federal Reserve Seeks to Protect U.S. Bailout Secrets. Does this shock anyone?
01-12-2010  • 
The U.S. Court of Appeals in Manhattan will decide whether the Fed must release records of the unprecedented $2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc.


The Federal Reserve Paid the Federal Government $46 Billion in 2009.
The FED Seeks Control, Not Profit

01-13-2010  •  Gary North 
The Federal Reserve System is not about making money at the expense of the government. It is about using a government-granted monopoly over money to regulate the economy to the benefit of a handful of large banks.



Fed Missed This Bubble. Will It See a New One?
01-06-2010  •  NY Times 
If only we'd had more power, we could have kept the financial crisis from getting so bad. That is the position of Ben Bernanke, the Federal Reserve chairman. It is why they are pushing Congress to give the Fed more authority over financial firms.


Inflation – How The FED Picks Your Pocket and Raids Your Bank Account
Sharon Secor
The Federal Reserve is the central bank of the United States and controls national monetary policy. The Fed, not to be confused with the federal government of which it is not a part, also picks your pockets and raids your bank accounts.


The Federal Reserve System & Dishonest Money (Video)
01-18-2010  • 
The Federal Reserve System is NOT that difficult to understand. Likewise, it doesn't require much effort to see HOW it is being used against us.



Fed “Earns” Record Profits While Taxpayers Suffer Record Financial Woes
Sharon Secor
The Federal Reserve garnered “record profits” during 2009, the largest amount it has ever made in a single year in its entire history. Fascinating, when considered against the backdrop of what the American taxpayer is facing – record levels of unemployment.