Fed Would Be Shut Down If It Were Audited, Expert Says [Please Front Page this]
Submitted by bobbyw24 on Wed, 06/10/2009 - 09:20
in
The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC.
With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.
"If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized."
»
This
needs to be on the front!
I really do believe
we are a big part of this. And Ron Paul is our leader.
Read this one
The cracks are showing...
http://www.cnbc.com/id/31206992
Shut it down !!!
_______________________________________________
rand2010.com | schiff2010.com | kokeshforcongress.com | rjharris2010.com
Huffington says: "Socialism for the rich,"
a phrase first stated by Jim Rogers. MSM talking about this stuff is great, but with their spin of course.
Thanks.
If their balance sheet is so out of whack and if
"The Fed is undercapitalized in a way that Citicorp is undercapitalized."...Then like any other business they should fail. Because they are not and have not been preforming the duties entrusted to them in 1913.
For years, in fact since their inception in 1913, their policies have subjected our country to numerous bubble and bust events, to a depression,to many periods of recession, to inflation, to stagflation. And now we are bordering on what may be our second depression. Isn't it about time we were responsible for our own monetary system, instead of abdicating that responsibly to a totally inept and out of control entity
Could we do any worse? I think not and we may even do a better job.
With a track record like the Fed's they deserve to fail.
Note: Article 1, Section 8 says:
Powers of Congress - To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
It is clear that Congress abdicated their power to coin and regulate our money in 1913, by turning that power over to a private entity...The Federal Reserve.
Isn't it about time Congress took back their power as intended by our founders?
It's clear that the Federal
It's clear that the Federal Reserve's days are numbered... However, we have to wonder if the global elite want another central bank to replace the Fed.
I think it's time we start raising awareness about not allowing our money supply to EVER be monopolized by any bank or government agency.
End the Fed and replace it with nothing!
Bingo
Goodbye Federal Reserve; hello IMF/World Bank.
Roanoke, Virginia
http://www.facebook.com/Roanokers4RonPaul
Yeah And That's Why HR 1207 Has To Pass, But...
what I really want to see is reams of RICO indictments against all the FED members from here to the UK.
.
.
.
.
http://www.ronpaulsingles.com/
Paper Ballots Hand Counted At The Precinct Or Bust
Support WTP Federal Supreme Court Case To Ban All Electronic Voting Or Forget 2010 or 2012
Donate to WTP here: http://www.wethepeoplefoundation.org/00-Donate.htm
http://www.dailypaul.com/152976/diebold-vs-paper-ballots
http://www.ncel.w4sp.com/
http://www.blackboxvoting.org/
http://www.votefraud.org/
http://www.hulu.com/hacking-democracy
Yes, criminal intent. Include acts against nature.
Perhaps people could earn money, you know, from the stimulous bail out and used to route out these psychopaths.
Ha, ha. my point being, they don't want to be convicted. So little by little, these spineless people recant, and come back to a more middle of the road policy. Others embrace the NWO just to hope the new tyranny will prevail, and they don't have to be shipped of to labor camps as convicted murders and tyranical oppressors.
We must make them responsible and make them work at hard labor in North Korea.
And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”
And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”
Agreed-Put at TOP of front page Michael
Please
Good find.
If anyone wants to move this story out to a few thousand other websites join here free and invest the micro economy credits provided >> http://www.pyrabang.com/view.php?ref=THX1138&post_id=33803
Watch the film "THX1138" online for a glimpse into the future.
http://www.pyrabang.com/view.php?ref=THX1138&post_id=7484
Nice catch!
Grant said he would support legislation currently making its way through Congress calling for an audit of the Fed.
Gee, wonder which legislation that is... ;)
~Live life to its fullest, with an open heart, open arms and most important... an open mind~
You know as annoyed as I am with
The Granger.. Do you think he's slipping some points in.. If this were to occur would a world bank step in? Would the states break up..
I'm curious.. Interesting times.
Find out if you have a local militia - http://www.uaff.us/
Real Patriots for 9/11 truth -- http://patriotsquestion911.com/
My pessimistic little prediction
Months ago, I had this notion cross my mind: I would see our "End the Fed" protests hit the MSM at last: They would use them to pitch for the new global bank.
I hope I am wrong.
Truth exists, and it deserves to be cherished.
Well...
My personal opinion is that the Fed HAS to go away anyways, since there is coming a time where it will no longer be able to make good on its promises. It is a mathematical certainty, so they have to know this. So they will drain every last drop of blood out of the US financial system, allow a witch-hunt that takes the Fed out (after they have all they want) and it will place us in a position where we will have to go to the World Bank. Which is what they want anyways. After all, it's all the same bank anyways... with the same people behind it. Americans will still pay FOREVER on the debt and pay it to the same bank.. we'll just see them as different because the name of the bank will be different.
In they end, they get what they want, the American public is given thier ~justice~ and then it's off to siphon China, the next donor.
That's always been what is going to happen.. my Dad pointed that out to me years ago.
Again, just an opinion... :)
~Live life to its fullest, with an open heart, open arms and most important... an open mind~