by Kerri Rehmeyer
The private banking cartel, aka The Federal Reserve, and their sinister shareholders have gone into a sheer panic and sent their propaganda machine into overdrive. What are they so afraid of? H.R. 1207! This is Congressman Ron Paul’s “Federal Reserve Transparency Act of 2009”. H.R. 1207 has 282 cosponsors in the House and S. 604 the “Federal Reserve Sunshine Act”, its Senate companion bill, has 23 cosponsors in the Senate. Both are gaining support by the day. The FED has even gone so far as to hire former Enron lobbyist Linda Robertson to attempt to counter the facts that are coming out regarding the Federal Reserve. As Senator Bernie Sanders, sponsor of S. 604 pointed out “No matter how intelligent or well-intentioned the Fed chairman and his staff may be, it isn’t appropriate to give a handful of people the power to lend an unlimited supply of money to anyone it wants without sufficient oversight.”
Now mind you, most of these cosponsors signed on, including John Cornyn, Kay Bailey Hutchison and Kay Granger, probably not because they are actually interested in transparency of the FED but due to constant pressure from their constituents.
The Federal Reserve prints up (or conjures up through computer entry) Federal Reserve Notes (FRNs) and lends them to the treasury at interest. The member banks of course receive the interest on these loans (aka the National Debt). Because FRN’s are the only acceptable form of payment, and those can only be borrowed from the FED at interest since they have a monopoly over our “money” creation…well, do you see the problem here? It is literally impossible to ever pay off the National Debt under this fiat (backed by nothing) monetary system. No one can say for sure who the actual shareholder’s of the Federal Reserve are (it’s a secret, of course), but they are most likely the families of the same European aristocracy that our forefathers fought to get out from under the oppressive thumb of in the 1st American Revolution. Is it any wonder our government is starting to look and act more European (totalitarian and socialistic) each day? And remember, the lender is always the master to the borrower. This is how the FED gets our government to do its bidding. Bank bailouts, anyone?
On the other hand, the Congress doesn’t really want to expose the FED, because they are not only the enforcer of the cartel, but the other beneficiary of the cartel. Since our “money” is backed by nothing, the FED can make an unlimited supply of it. This allows the Congress and President to borrow as much as they wish to maintain their welfare/warfare state, give out special favors to their cronies and special interests and continue to be re-elected all to the detriment of we the people. They don’t outright raise your taxes, but do so through the hidden (but just as harmful) inflation tax. If every man has his price, how do you think that bodes for We the People when the FED has an unlimited supply of “money” with which to bribe elected officials. Every time the FED makes another loan they are diluting the value of every dollar in your pocket. Since its inception in 1913, The Fed has helped to devalue our dollar by over 95%. During the recent economic crisis, it has poured Trillions of dollars into the economy with no oversight, has made secret agreements with foreign banks and governments, and has refused to tell Congress or the American Public who is getting our money.
Recently, FED Chairman, Ben Bernanke stammered through an interview on PBS’ NewsHour. He trotted out the same old lies and excuses claiming that HR 1207 would hand over monetary policy to the Congress, reducing the FED’s independence (uuuhhmmm…secrecy) and politicizing their decisions. Bernanke also claims that the GAO “already looks at virtually all of our activities”. This is pure hogwash. There is no oversight whatsoever regarding loans made by the Fed, which is why there has been no indication of the final destination of multiple trillions of dollars in bailout funds. If he were telling the truth he would have said “We can’t allow the American people to find out that we have perpetrated the greatest scam in history upon them or they will demand to see an end to us (the FED).” Why anyone listens to this fool is beyond me. Has he been right about anything? Watch this 5 minute video that proves how ridiculously wrong Bernanke has been: http://www.youtube.com/watch?v=9QpD64GUoXw&eurl=http%3A%2F%2Fwww.dailypaul.com%2Fnode%2F100499&feature=player_embedded
H.R. 1207, which is 2 pages long, would simply amend existing law to allow the Comptroller General of the General Accounting Office to audit the Federal Reserve Board and its member banks. According to Declan McCullagh of CBS News, “The Comptroller General is a Senate-confirmed official who is also the head of the Government Accountability Office (GAO), a legislative branch agency organized under the U.S. Congress. In other words, we’re not talking about a political bomb-thrower, but a veteran civil servant tasked with important oversight responsibilities.” It seems to me the Congress is only interested in passing bills that are at least 1000 pages long to intentionally obfuscate the real agenda. They certainly can’t claim H.R. 1207 and S. 604 are too long or confusing! It couldn’t be any simpler or clearer and they could actually READ the bill in about 5 minutes.
Their secrets are finally coming out. Its gone mainstream whether they like it or not. A new Rasmussen Reports national telephone survey finds that 75% of Americans favor auditing the Federal Reserve and making the results available to the public! If you weren’t aware of this scam, please educate yourself and let’s resolve to throw this central banking albatross off our backs.
Watch the courageous Senator Jim DeMint (R-SC), the 1st cosponsor of S. 604, as he is blocked by Senate Democrat Leadership from having a vote on his amendment to audit the Federal Reserve:
Links to the Bills on the Library of Congress’ Website:
For the full story on the FED please see this video:
Audit the FED! End the FED!