Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 12/03/2010 4:40:45 PM PST by Bokababe
With Republicans taking control of the House in January, long-time Federal Reserve critic Rep. Ron Paul is in line to take over chairmanship of the House Financial Service Committee’s Subcommittee on Domestic Monetary Policy and Technology. This is the subcommittee with direct oversight of the Federal Reserve.
The thought of having some actual oversight of the Fed is apparently making Wall Street and the rest of the banking industry nervous. Recent disclosures of Fed lending to foreign banks and Wall Street did not help the public image of either Wall Street or the Fed. With Congressman Paul pushing for a full audit of the Fed, it is likely even dirtier secrets of the Fed may come to light.
So where have the Fed and Wall Street turned for protection? According to Bloomberg, the Fed’s new protector might be incoming House Speaker John Boehner.
(Excerpt) Read more at cato-at-liberty.org ...
I saw those reports and certainly hope those reports are not true and they are just propaganda to rile people up. We need Ron Paul no one else wants to challenge the Fed.
“A profile of Mr. JP Morgan in the New York Times described how he used his literary skill to politely “school” Obama on not being so mean to Wall Street.”
[Banker] told [President] how to behave.
Get it?
Wall Street Still Doesn’t Love the GOP
“But based on my reporting, including interviews with senior banking executives, Wall Street doesn’t so much love the Republican Party as it is hedging its bets on divided government. And barring an independent run by Mr. Bloomberg (which even his most optimistic Wall Street supporters concede is a long shot), the big bankers are planning once again to return to Mr. Obama’s side for 2012. Maybe not to the same degree as in 2008, when Goldman Sachs employees gave more donations to the Obama campaign than any other organization except the University of California. But enough to give the president a decent advantage in his bid for re-election.
The reasons to expect this about-face are partly ideological: People like Larry Fink at BlackRock, Jamie Dimon at J.P. Morgan Chase, Brian Moynihan at Bank of America, and Lloyd Blankfein and Gary Cohn at Goldman Sachs are all social liberals who largely support the president’s agenda on health care, taxes and the environment. That’s why they like Mr. Bloomberg so much—he’s Mr. Obama without the rhetoric of class warfare.
But backing the president is also good business. ....”
more
http://www.freerepublic.com/focus/f-news/2621231/posts
“....are all social liberals”
Fascists
But, none the less, Keynesianism is dying. And without Keynesianism, the Fed has no real purpose. All the things that have supported the Keynesian model are getting pulled out from under it.
For years, even though the dollar was not backed by gold, it was the only currency for buying oil. But that's changing. Although the Russians were making noises about it for years, Saddam Hussein was the first to refuse to sell oil for dollars back in 2000. Then a few years ago, Iran set up their Oil Bourse --same thing, won't take dollars, only Euros and Rials. Now China and Russia are off the dollar. The dollar is no longer the only currency of oil. That prop is gone.
And over the years, the US has virtually lost all of it manufacturing base as a foundation for an economy that supports the dollar. Prop 2, gone
There is virtually nothing propping the dollar up except consumerism -- and that will end when no country wants to take our virtually worthless dollars anymore.
What's worse, is that the Fed is currently unpredictable. Quantitative easing is already reducing the value of the dollars in our pockets without our permission. There can be no growth and recovery with the level of unpredictability that we have now -- in government AND in the Fed.
If you believe that "power corrupts and absolute power corrupts absolutely", I can think of no better example of this than the US Federal Reserve. It isn't elected, it answers to no one yet all our fortunes are dependent on it.
Personally, I think that we can never be a truly free people until we have a commodity-backed currency that's objectively worth something and the Federal Reserve dies a long slow death.
That having been said, I think Boehner would make a grave and politically fatal error if he thwarts Paul's attempt to head the committee or subcommittee that investigates the Federal Reserve. If he wants to keep Paul on a short leash to see to it that Paul sticks to the subject, that would be a wise idea lest Paul go off on a grand tour of Truther fantasies and the rest of his cornucopia of insanities. However, few Congressmen are likely to be as prepared as Ron Paul for this limited function of investigating and auditing the Federal Reserve.
This week's revelations of a secret $3 trillion dollar printing binge by the Federal Reserve to fund Santa Dubya and Santa Obamao running around NYC and Europe and the world in a presidential sleigh with eight reindeer dumping fiat money by the hundreds of billions on favored establishment participants like General Electric (whose subsidiaries NBC, CNBC and MSNBC modestly declined to report $160 billion in handouts to GE), nearly every NYC major investment bank, the IMF, European Central Banks, General (Government) Motors and a host of other elite favorites should have sealed the Fed's fate.
Whatever Ron Paul's faults and they are many, protecting the Federal Reserve's program of keeping the gigantic bonuses rolling so that favored private sector pirates can keep their mansions in the Hamptons is not among them.
I sincerely hope that Paul chairs this investigation and that he has the sense to do a sober and sensible and relentless job of it. There is probably no Congressman more prepared to chair this investigation.
Boehner has one strike in blocking Michele Bachmann's attempt to join leadership. I have every confidence that others here can cite a second strike. Blocking Paul will be strike three if it occurs and, as noted above, I say that as one who has never been a partisan of Paul rather quite the opposite. This is the single most important matter that Boehner will ever be called upon to decide. If he blows it, there will likely be a vigorous third party which will replace the GOP.
They are all rotten to the core.
Admittedly it's late and this beer may be taking effect...
That made me consider a better analogy is Kodak's purchase of bones (for making film stock gelatin) by the literal trainload.
>So, tell me again, what’s wrong with having an audit of the Fed?
It exposes their secret deals and inner workings... it will also likely show that the Fed is little more than a government-endorsed fraud-machine*... and given people’s distrust of government that may be enough to spark a real shooting-war.
*What would you do if you found out that the fed was a method to enslave you and your children? Would you be mad enough to kill? If not, then when would you be... when you are being forced into a cattle-car?
>>It therefore must be somewhat autonomous or nations could complain it was too tied to the U. S. Government.<<
Whose money doe s the Fed use? Italians, Chileans, Canadians? No, they use our American taxpayer dollars.
Who was the Fed setup to serve? Italians, Chileans, Canadians? No, they were setup to serve America.
Why are they loaning money to foreign nations without a vote of Congress?
This is the single most important matter that Boehner will ever be called upon to decide. If he blows it, there will likely be a vigorous third party which will replace the GOP.
>If he blows it, there will likely be a vigorous third party which will replace the GOP.
I propose “The American Ammunition Party” which will have two planks:
- Extreme proponent of UNRESTRICTED firearms in the population.
- Extreme, daresay, lawyerly/robotic adherence to the Constitution; up to and including prosecuting the Supreme Court with Conspiracy Against Rights* over the 2005 Keelo v. New London case (a 5th amendment violation).
Amendment V.
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of
a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for PUBLIC use, without just compensation.
Conspiracy Against Rights
If two or more persons conspire to injure, oppress, threaten, or intimidate any person in any State, Territory, Commonwealth, Possession, or District in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same; or
If two or more persons go in disguise on the highway, or on the premises of another, with intent to prevent or hinder his free exercise or enjoyment of any right or privilege so secured—
They shall be fined under this title or imprisoned not more than ten years, or both; and if death results from the acts committed in violation of this section or if such acts include kidnapping or an attempt to kidnap, aggravated sexual abuse or an attempt to commit aggravated sexual abuse, or an attempt to kill, they shall be fined under this title or imprisoned for any term of years or for life, or both, or may be sentenced to death.
PING
He was not a team puppet for the Republican Party establishment.
He listened too much to his constituents, was too conservative,too independent,too good of a fighter at his job and the things he believed in,he opposed amnesty, open borders,was not globalist minded enough to be allowed to have the powerful position of Speaker of the House.
He had to go.
So the party "dogs of discredit" were set loose on him or his family to find something ,anything no matter how trivial to end his career.
They are they are the same ones who are now after Sarah Palin, the Tea Party and anyone who doesn't kneel and kiss the ring of the Republican and Democratic party Washington insiders .
The two established kennel's Lap dogs of the rich and powerful individuals and corporations.
Nothing.
It exposes their secret deals and inner workings... it will also likely show that the Fed is little more than a government-endorsed fraud-machine*...
Thanks, OWS! I knew there must be a reason. Have a great day!
Nothing.
Thanks, FTJM! Few things make me happier first thing in the morning than to be told that I'm right yet again.
Have a very jolly day!
BLOOMBERG?? BLOOMBERG??? YOU ARE GOING TO BELIEVE BLOOMBERG? Just another rumor about a Respected Republican Boehner who will make a GREAT Speaker of the House. Stop listening to people like Bloomberg, because that is what they want you to do.
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