NY Times Article Details Just How Political the Fed Really Is
Under Attack, Fed Chief Studies Politics
By Edmund Andrews | New York Times | November 10, 2009
WASHINGTON — With the Federal Reserve under more intense attack than at any time in decades, Ben S. Bernanke, the professorial chairman of the central bank, was schooled last month in how to handle the increased political demands of his job.
For months, he had warned — without anyone on Capitol Hill appearing to listen — that a seemingly innocuous bill to let Congress “audit” the Fed would gravely threaten the central bank’s independence.
It was alarming enough that the bill’s author was Representative Ron Paul, the quixotic Texas Republican whose new book, “End the Fed,” had just landed on the best-seller lists. Despite vigorous protests by Mr. Bernanke, nearly 300 House lawmakers and 30 senators had endorsed Mr. Paul’s bill.
But when he sat down shortly after 8 a.m. on Oct. 1 at the Rayburn House Office Building for coffee and muffins with Representative Barney Frank, the rumpled and wisecracking chairman of the House Financial Services Committee, he took in some blunt advice.
Voters had become suspicious and unnerved by the Fed because of its trillion-dollar efforts to bail out the financial system, Mr. Frank warned. If the Fed really wanted to survive the disgruntlement in both parties, he continued, Mr. Bernanke would have to step back and let him devise a compromise.
Reluctantly, the Fed chairman agreed to reduce his own visibility on the issue and let Mr. Frank take the lead.
And they say the Fed is not a political institution
premature abolition of the FED is what they fear
Currently,the USFederalReserve is the defacto global central bank,thru its ability to "PRINT" paper dollars with no value[FRNs]--its destruction to make way for the IMF to become the new global centralbank, from FRN's to another fake papermoney from nothing SDRs.
The "FED" will be abolished,but using their script--RonPaul's audit the Fed is something they do not control--a public disclosure of their transactions-and they fear it so.
how it is done
the phils was 2nd in asia after japan in the 60s--our navies are patrolling its waters,stopping wars between korea and japan[even in Africa],sending expeditionary [invasion]units to stop north korea,etc, now we are a "3rd world" country. HOW WAS IT DONE? and in so short a time? answer: COMPLETE FINANCIAL SYSTEM TAKEOVER.
by forcing the phil govt to make loans for projects being given to corporate america thru the IMF-[outright US&IMF political pressure to DEVALUE THE PESO]--then these useless projects forced us to go into heavy debt,and the political disintegration climate they"empire planners" made forced the economy into a dive--and we defaulted---and yes, we had our own nationalistic president whose plane quietly "crashed"
US 3RD WORLDING----
1. devalue the dollar by increasing moneysupply thru the bailouts--in the end, your dollar's value is so low, that you have to work so hard to have just enough to pay the bills;[like the artificially low value of the Philpeso]
2. maintaining low interest in dollar to make it cheap-result? US CORPORATION ASSETS ARE CHEAP TO FOREIGNERS ,so assets are being bought at an alarming rate,artificially raising the stockmarket--but in actuality,it is a TRANSFER OF CONTROL AWAY from americans of their own assets.
3. abolishing the FEDERAL RESERVE to make way for the international central bank--the IMF, from FRNs to SDRs...reducing the importance of American Interests and ability of SELF-DETERMINATION[which is the last nation to do so,after the EU are now in their control]
you will be left with huge national debt bec of the wars and the bailouts which will be forced upon your citizens. generations upon generations of americans will be forced to pay for this debt---and every year,barely making enough for INTERESTS PAYMENTS ALONE.
and more importantly, like every 3rd world country---YOU CANNOT BUILD INFRASTRUCTURE WITHOUT MORE LOANS FROM THE NEW GLOBAL CENTRAL BANK--which will dictate all the terms and meddle with all political affairs[which in your case will likely mean--opening borders, adapt NAU,etc etc]
Good Luck my American brethren,
jc
Learn here
A list of the board of the fed here: http://www.federalreserve.gov/aboutthefed/default.htm
The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. All terms end on their statutory date regardless of the date on which the member is sworn into office.
The Chairman and the Vice Chairman of the Board are named by the President from among the members and are confirmed by the Senate. They serve a term of four years. A member's term on the Board is not affected by his or her status as Chairman or Vice Chairman.
The link for this is here: http://www.federalreserve.gov/aboutthefed/bios/board/default...
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://politicaltrackingnetwork.wordpress.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
Barney Iscariot, mother-f_ _ _ _ _
The Last Hope Trader
Forensic Trading For Times Of High Crimes
"GINO" = Government In Name Only
gasbaggery at it's finest
~
the banking queen never ceases to amaze ...
Barney Frank Clashes With Ed Schultz Over Bank Bonuses
http://www.huffingtonpost.com/2009/11/09/barney-frank-clashe...
Outstanding
Detective Krum Investigates:
http://victory1project.wordpress.com/
http://politicaltrackingnetwork.wordpress.com/
Detective Krum Investigates:
http://victory1project.wordpress.com/
Watch out for the "slight of hand"
Our Congress is good at leading the public one way on an issue, only to write the actual legislation to do just the opposite. The Fed is a little nervous over Dr. Paul's efforts, but they figure they have the "real" powers on their side. But, if our esteemed Congress people would get their blood boiling like most of us citizens, maybe we could see some real action. Can anyone believe that the likes of Barney Frank and Nancy Pelosi are actually power brokers controlling our Country? How did we get to this point? In Congress, I only trust what Dr. Paul has to say. Everybody else deserves a pinch of salt.
alan laney
Schiff can use this
Schiff can use this against Dodd. This is gonna get fun...
Quote
"But Fed officials have been steely in protecting their two top priorities: the Fed’s political independence on monetary policy..."
Political independence my ass, the FED is the only reason why the politicians don't have to balance the budget or raise taxes, the FED just inflates the money supply.
A Republic, If You Can Keep It
A Republic, If You Can Keep It
Just as striking to me is the fact that the NY Times...
actually did some investigative reporting on an important issue such as this one.
Notice also that they took the opportunity to cast a barb at Ron Paul in the article.
meaning of the word quixotic: of or like Don Quixote.
Their circulation is decreasing, so their reporting of important issues is increasing.
Ron Paul is "quixotic" ?
Yeah, they WISH.
Yes he is
MSM says the same thing about Ralph Nader. Both run for president, not to be president, but to deliver a message.
That is quixotic, and a very good possition to be in. Really.
http://www.youtube.com/watch?v=r5KeGccP9Jk&feature=related
To add some perspective.. Windmills were the corporations of their time, they controlled people with food
Have a good posting day!
(((( Hug to you )))) ;)
Web definition for quixotic:
"not sensible about practical matters; idealistic and unrealistic."
I disagree that Ron Paul's running for President made him quixotic, unrealistic, insensible.
The world is upside down, is it not?
I too disagree with the dictionaries, definition.
So look at this one http://en.wikipedia.org/wiki/Don_Quixote
The dictionary reflects the illusion we live in. Cervantes and his story of The Man from La Mancha, can also be intrepreted in other ways, far more profiund than what Webster's SUGGESTS.
It is the story of a man who is fighting for freedom, but the people do not think they are enslaved. Don Quixote is AWAKE and the rest of the world frightened and asleep. Dulcenea might as well be the statue of Liberty.
We will lose if we agree to their terms and not find strengths where they be and employ them. To know one is dreaming an impossible dream is to be awake. To not know one is fighting an impossible dream is being asleep. We are fighting an impossible dream, we need to wake up to win the reality.
Have a good posting day!
(((( Hug to you )))) ;)
It looks like
our own Jive_Dadson sent this article to Lew Rockwell.
http://www.lewrockwell.com/blog/lewrw/archives/42585.html
Sounds like Frank isn't helping
ugg.
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A great empire, like a great cake, is most easily diminished at the edges. - Ben Franklin
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A great empire, like a great cake, is most easily diminished at the edges. - Ben Franklin
This is mostly a theatrical production ...
... to give the appearance of an independent Congress ... confuse the issue in the minds of the people.
Congressional jellyfish like Frank know who is in charge ... whose rump to kiss! He does exactly what the Fed wants him to do. Ditto most of the pols.
They are playing at politics, but smart people know exactly where the chips are going to land.
Leave it to the NYT to cover this sort of useless crap.
Mel Watt Explained
And they say the Fed is not a political institution
What has the FED done to deserve
anything other than jail cells is what I'd say. They print he money, keep it for themselves and their friends and the taxpayers get the bill. Too bad this go around it's meant to toppled the country. Wonder how many $TRILLIONS they've printed by now ?
Just one last kick in the nuts, then a final deathblow
Look at this, also from the article:
Sick
That makes me sick.
Not really sick... the emotion I feel is best not stated.
I'm actually cussing atm.
I'm boiling
Frank thinks he can finesse the situation by being the fed's "bottom boy". Oh my, this is ridiculous, infuriating, and terrifying at the same time.
Chris Dodd Fed Bill
From the article:
On Tuesday, a new threat opened up: Senator Christopher J. Dodd, chairman of the Senate Banking Committee, declared that the Fed had been an “abysmal failure” at regulation. He introduced a bill that would strip virtually all of its power to regulate banks, including financial institution considered too big to fail
Anyone know anything about it?
Weird. Dodd is so
Weird. Dodd is so bought-and-paid for that "compromised" is a word much too tame to describe him. Either the NYT is mischaracterizing whatever Dodd (or I should say Dodd's handlers) is proposing, or else there's some strategy here we don't know about.
Freelance copywriter/editor who gets the "freedom message"!
Visit: http://www.DavidBardallis.com
Freelance copywriter/editor who gets the "freedom message"!
Visit: http://www.DavidBardallis.com