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Thursday, July 23, 2009

The Federal Reserve...take a close look.

There have been those who believe that the Federal Reserve - a privately owned entity in charge of our total money supply and manufacture - run this country. I have to admit I am one of them. What more control can you have over someone then to control their money.

The Fed controls every aspect of our money. How much is printed, when it is printed,and who it is given to. They control the interest rates and with the speed of a sound bite raise them or lower them.

They control inflation and deflation. Basically they control everything and their powers are growing giving them even more control over "them the poeple".

But who am I to accuse or even suggest that such a thing is going on. After all, I am just a blogger out here in blogger land whose credibility beyond the confines of my home is rather limited.

That is why it is important to look at other sources whose credibility is national and sometimes international in scope even though you may not necessarily agree with their views or opinions.

Ron Paul,- a c
ontroversial figure to say the least - but if you listen to him he does have some very good things to say. He has been working on creating legislation to audit the Federal Reserve.

His website - on July 21st reads...

Ron Paul’s Bill To Audit The Federal Reserve Now Has 276 Co-Sponsors in the House, and 17 Co-Sponsors in the Senate!
By tmartin

The post goes on to say,
This is history in the making, and victory is within reach. Imagine what will happen if HR 1207, The Federal Reserve Transparency Act, comes up for vote in Congress! With more than 55% of the House of Representatives already co-sponsoring this bill, it has real potential to pass — BUT only if we educate and rally the people to support it and get our Congresspeople to put it to vote and pass it.
NOTE:As always, please turn sound off on Bloomberg TV.We apologize for this inconvenience.

Please view the video. It is very informative. Obviously to date a large number of Congressional Representative along with 34% of the Senate are backing this bill - HR1207.

In this video Paul, during an intervie session says that he believes that the Chairman of the Federal Reserve is more powerful then the President and certainlyl more powerful then Congress based on his control and authority trillions of dollars "without appropriation".

When linking to his site you will see a complete list of those in the House of Representatives and Senate who are behind this effort. I feel this is important as the Federal Reserve and its ownership have been a deep dark secret since the beginning.
Don't we, the public, have a right to know? I think we do and so does Ron Paul along with almost 300 of our Federally elected officials.

But there is more.

On July 22nd, published this story,
Fed Has Become ‘Embroiled’ in Politics, Poole Says
By Vincent Del Giudice and Max Raskin

July 22 (Bloomberg) -- The Federal Reserve is “embroiled” in politics and has “stretched beyond reason” its authority to make loans, said William Poole, who served as president of the St. Louis Fed from 1998 to 2008.

“ I don’t think independent can mean the Fed can do whatever it wants under any circumstance,” Poole, a senior economic adviser to Palo Alto, California-based Merk Investments LLC, said in an interview today on Bloomberg Radio. “The Fed has chosen to make loans to certain firms and not others.”

Traditionally, central banks “deal in government securities,” and control “overall liquidity” and “overall interest rates,” Poole said. The Fed is “embroiled in fundamentally political questions,” he said.

Now read this excerpt very carefully and slowly,
The central bank “has not made loans of this sort since the Great Depression,” Poole said. “The Federal Reserve has responded very aggressively to this crisis we are living through” and “has doubled its balance sheet.”
The key words here are, “has doubled its balance sheet.” Yes, that is right, they are a FOR PROFIT organization. They earn interest on each and every dollar that is in circulation and don't for one minute think that they are behind in their collections.

So the big question is, "who does all this profit go to"? Who are the beneficiaries of all this "profit" and profit being a motive, does this private company function on behalf of and for the benefit of its' owners or the people of this nation.

Inquiring minds want to know. I certainlly want to know

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