Did Fed finance Saddam Hussein’s weapon purchases?Submitted by McClarinJ on Sat, 02/27/2010 - 15:08
Did the US Federal Reserve finance Saddam Hussein’s weapon purchases?
Robert Bridge, Russia Today
27 February, 2010, 18:51
As Congress debates legislation to make the US Federal Reserve less secretive, Republican Ron Paul said the Bank loaned Iraq billions of dollars to buy US weapons in the 1980s.
Ever since the bottom fell out of the US economy in 2007, triggering an economic crisis of titanic proportions, the US Federal Reserve has found itself on the defensive as lawmakers are demanding more supervision over the tight-lipped money-printing outfit.
The man who is leading the fight against “the Fed” is Texas Congressman Ron Paul, 74, an outspoken critic of US foreign and monetary policy. And given the present economic and social conditions inside of the United States, which are quickly converging to form the perfect political storm, Paul may be successful in passing his Federal Reserve Transparency Act that will give lawmakers the authority to audit the Federal Reserve – a power that it presently does not enjoy.