Post by imSINGLEruRICH on Feb 8, 2007 16:16:01 GMT -5
abadgoodgirl
DIAMOND JEDI
More secret then CIA, FBI, DOJ, NSC....
By far, the federal reserve tops the CIA,FBI, DOJ in secrecy by a country mile. The Federal Reserve System is accountable to no one; it has no budget; it is subject to no audit; and no Congressional committee knows of, or can truly supervise its operations. *
Thus, when the first Democratic president in over a decade was inaugurated in 1993, the maverick and venerable Democratic Chairman of the House Banking Committee, Texan, Henry B. Gonzalez, optimistically introduced some of his favorite projects for opening up the Fed to scrutiny.*
His proposal seemed mild; he did not call for the full-fledged Congressional control of the Fed's budget. The Gonzalez bill required full independent audits of the Fed's operations; videotaping the meetings of the Fed's policy meetings within a week, rather than the Fed being allowed, as it is now, to issue vague summaries of its decision 6 weeks later.*
In addition, the presidents of the twelve regional banks would be chosen by the president of the United States rather then, as they are now, by the commercial banks of the respective regions.*
It was to be expected that the Fed Chairman Alan Greenspan would strongly resist such proposals. After all, it is the nature of bureaucrats to resist any encroachment on their unbridled power.*
Seemingly more surprising was the rejection of the Gonzalez plan by President Clinton, whose power, after all, would be enhanced by the measure. *
The Gonzalez reforms, the President declared, "run the risk of undermining confidence in the Fed."*
On the face of it, this presidential reaction, though traditional among chief executives, is rather puzzling. After all, doesn't a democracy depend upon the right of the people to know what is going on in the government for which they must vote?*
Why should public knowledge "undermine market confidence"?*
Why does "market confidence" depend on assuring far less public scrutiny than is accorded keepers of military secrets that might benefit foreign enemies? What is going on here?*
The standard reply of the Fed and its partisans is that any such measures, however marginal, would encroach on the Fed's "independence from politics". The monetary system is highly important, and the Fed must enjoy absolute independence.*
Sweeping the streets; control of seaports; regulation of industry; providing social security are held to be "too important" to be subject to the vagaries of political whims.*
But it is one thing to say that private, or market, activities should be free of government control and "independent of politics" in that sense.*
But these are government agencies and operations that we are talking about and to say government should be "independent of politics" conveys very different implications.*
Government can only be accountable to the public and to its representatives in the legislature; and if government becomes "independent of politics" it can only mean that that sphere of government becomes an absolute self-perpetuating oligarchy, accountable to no one and never subject to the public's ability to change its personnel or to "throw the rascals out".*
If no group can displace a ruling elite, then such an elite becomes more suitable for a dictatorship than for an allegedly democratic country.*
Barney Frank (D., MA), a co-sponsor of the Gonzalez bill, points out that "if you take the principles that people are talking about nowadays," such as "reforming government and opening up government---the Fed violates it more than any other branch of government."*
What happens when the government [thru the SEC and various individuals inside the Government] sanctions legalized counterfeiting. [selling counterfeit securities]?*
Counterfeiting gravely cripples the moral and property rights foundation that lies at the base of any free-market economy.*
Counterfeiting then becomes a grave economic and social problem. For then there is no one to guard our guardians against their depredations of private property.*
We see it in the media today.... blame is being put on executives pay and people wanting bigger plasma tv's.... where the blame is not being placed is upon our government that looks the other way and condones it...the selling of counterfeit securities.
The Truth is finally coming out:
What we see now, is Overstock going after the prime brokerages owned by the federal reserve. We see the ETG going after the prime brokerages which also own the federal reserve.
And the Federal Reserve is doing everything in its power to place the blame on everything and anything else....including executive pay.. backdating options.. etc... they are in complete denial that it is they who have implemented almost the 'perfect' counterfeiting crime... with their stock borrow program and doing away with 'paper trails'.... reducing margins for brokers... reversing Glass-Steagall.
Indeed it appears that the Federal Reserve (made up of the elite banking institutions owned by international banking cartel) is in collusion with the SEC as well as corrupt government officials in our own government.
Overstock must prevail, FFH must prevail, CMKX MUST PREVAIL...the federal reserve has become a cancer to the people...and they control our country... not us.. until now.. maybe we have a chance to take the country back.
FAX YOUR LETTERS TO BARNEY FRANK...DODD LOOKS LIKE A SELL-OUT... based upon the bloomberg article..is my personal interpretation of that article... he will have the banks in his best interest and not the people.
* The Case Against the Fed, Murray N. Rothbard (1926-1995) was dean of the Austrian School of Economics and America's foremost scholar of central banking. The author of 26 books. He was S.J. Hall Distinguished Professor of Las Vegas, and Academic Vice President for the Ludwig von Mises Institute.
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DIAMOND JEDI
More secret then CIA, FBI, DOJ, NSC....
By far, the federal reserve tops the CIA,FBI, DOJ in secrecy by a country mile. The Federal Reserve System is accountable to no one; it has no budget; it is subject to no audit; and no Congressional committee knows of, or can truly supervise its operations. *
Thus, when the first Democratic president in over a decade was inaugurated in 1993, the maverick and venerable Democratic Chairman of the House Banking Committee, Texan, Henry B. Gonzalez, optimistically introduced some of his favorite projects for opening up the Fed to scrutiny.*
His proposal seemed mild; he did not call for the full-fledged Congressional control of the Fed's budget. The Gonzalez bill required full independent audits of the Fed's operations; videotaping the meetings of the Fed's policy meetings within a week, rather than the Fed being allowed, as it is now, to issue vague summaries of its decision 6 weeks later.*
In addition, the presidents of the twelve regional banks would be chosen by the president of the United States rather then, as they are now, by the commercial banks of the respective regions.*
It was to be expected that the Fed Chairman Alan Greenspan would strongly resist such proposals. After all, it is the nature of bureaucrats to resist any encroachment on their unbridled power.*
Seemingly more surprising was the rejection of the Gonzalez plan by President Clinton, whose power, after all, would be enhanced by the measure. *
The Gonzalez reforms, the President declared, "run the risk of undermining confidence in the Fed."*
On the face of it, this presidential reaction, though traditional among chief executives, is rather puzzling. After all, doesn't a democracy depend upon the right of the people to know what is going on in the government for which they must vote?*
Why should public knowledge "undermine market confidence"?*
Why does "market confidence" depend on assuring far less public scrutiny than is accorded keepers of military secrets that might benefit foreign enemies? What is going on here?*
The standard reply of the Fed and its partisans is that any such measures, however marginal, would encroach on the Fed's "independence from politics". The monetary system is highly important, and the Fed must enjoy absolute independence.*
Sweeping the streets; control of seaports; regulation of industry; providing social security are held to be "too important" to be subject to the vagaries of political whims.*
But it is one thing to say that private, or market, activities should be free of government control and "independent of politics" in that sense.*
But these are government agencies and operations that we are talking about and to say government should be "independent of politics" conveys very different implications.*
Government can only be accountable to the public and to its representatives in the legislature; and if government becomes "independent of politics" it can only mean that that sphere of government becomes an absolute self-perpetuating oligarchy, accountable to no one and never subject to the public's ability to change its personnel or to "throw the rascals out".*
If no group can displace a ruling elite, then such an elite becomes more suitable for a dictatorship than for an allegedly democratic country.*
Barney Frank (D., MA), a co-sponsor of the Gonzalez bill, points out that "if you take the principles that people are talking about nowadays," such as "reforming government and opening up government---the Fed violates it more than any other branch of government."*
What happens when the government [thru the SEC and various individuals inside the Government] sanctions legalized counterfeiting. [selling counterfeit securities]?*
Counterfeiting gravely cripples the moral and property rights foundation that lies at the base of any free-market economy.*
Counterfeiting then becomes a grave economic and social problem. For then there is no one to guard our guardians against their depredations of private property.*
We see it in the media today.... blame is being put on executives pay and people wanting bigger plasma tv's.... where the blame is not being placed is upon our government that looks the other way and condones it...the selling of counterfeit securities.
The Truth is finally coming out:
What we see now, is Overstock going after the prime brokerages owned by the federal reserve. We see the ETG going after the prime brokerages which also own the federal reserve.
And the Federal Reserve is doing everything in its power to place the blame on everything and anything else....including executive pay.. backdating options.. etc... they are in complete denial that it is they who have implemented almost the 'perfect' counterfeiting crime... with their stock borrow program and doing away with 'paper trails'.... reducing margins for brokers... reversing Glass-Steagall.
Indeed it appears that the Federal Reserve (made up of the elite banking institutions owned by international banking cartel) is in collusion with the SEC as well as corrupt government officials in our own government.
Overstock must prevail, FFH must prevail, CMKX MUST PREVAIL...the federal reserve has become a cancer to the people...and they control our country... not us.. until now.. maybe we have a chance to take the country back.
FAX YOUR LETTERS TO BARNEY FRANK...DODD LOOKS LIKE A SELL-OUT... based upon the bloomberg article..is my personal interpretation of that article... he will have the banks in his best interest and not the people.
* The Case Against the Fed, Murray N. Rothbard (1926-1995) was dean of the Austrian School of Economics and America's foremost scholar of central banking. The author of 26 books. He was S.J. Hall Distinguished Professor of Las Vegas, and Academic Vice President for the Ludwig von Mises Institute.
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