Sunday, April 19, 2009

The Federal Reserve Debates Itself

http://cmsimg.tennessean.com/apps/pbcsi.dll/bilde?Site=DN&Date=20090419&Category=BUSINESS01&ArtNo=904190328&Ref=AR&MaxW=318&Border=0 “A global economy requires a global currency."
“I fully support a single global currency.” Paul Volcker in 2007


Vanderbilt University in Nashville held a financial research conference on April 18 with headliner and ex-Fed chairman and current Obama advisor Paul Volcker sparing with Vice Chairman Donald Kohn and New York Fed chief William Dudley on the Fed's policies.

It was a scripted, controlled event aimed at lulling the public into thinking that there is an actual debate within the financial elite on the state of the economy and how to reverse the downturn.

Volcker is quoted;

...the U.S. economic recovery will be a "long slog" but that the rate of decline "is going to slow."

a "long slog" but that the rate of decline "is going to slow."

"None of us has seen a decline in economic activity at the rate of speed seen late last year."

"The lack of a good strong recovery works against a strong financial system," he said. The financial system "is not quite comatose, but it's on life support."

Volcker said a review the Federal Reserve's role, something traditionally regarded as taboo, now seems inevitable given the fallout from the long-running financial crisis.

"For better or worse, we are at a point where the Federal Reserve Act is going to be reviewed," said Volcker.

The wide range of proposals, from giving the Fed much more supervisory authority to stripping it of part of its current authorities, "are just an indication of how wide open that question is going to be." {more}


Would that review include passage of H.R.1207 Federal Reserve Transparency Act of 2009?

To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.
It's highly unlikely. Send an email to your congressman urging support of this bill and see what the response is.


In an interview the former Chairman of the Federal Reserve, Greenspan, admits that the Fed is above the law and answers to no one. That's exactly how they intend to keep it.




A true debate on the Fed would include outsiders who have the questions that the Fed does not want to answer. Consider Steve Lendman in his analysis Barack Obama: Crime Boss and wonder how the Vanderbilt conference sparks would have flown had Mr. Lendman, or any number of Fed opponents, been invited and allowed to present an opposing viewpoint.

The insiders of the Federal Reserve can debate among themselves all they want, creating an illusion of openness, but the bottom line is that the secrets of the federal reserve are not to be exposed in public discussion where the masses might finally understand the workings of this criminal enterprise.

The 'higher' education institutions, as Vanderbilt did yesterday, the controlled Congress and the media will see to it.

5 comments:

  1. I still remember that comment by Congressman Ron Paul in Aaron Russo's "Freedom to Fascism" doc in which Paul stated he thought all of OUR gold in Ft. Knox had been taken by the Federal Reserve for them to hold as collateral on our debt that was created by the Federal Reserve.

    I've got more respect for Jesse James. At least he was an HONEST working man when he'd stick a gun in your face and demand you hand over your money or else.

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  2. Vanderbilt University in Nashville held a financial research conference on April 18 with headliner and ex-Fed chairman and current Obama advisor Paul Volcker sparing with Vice Chairman Donald Kohn and New York Fed chief William Dudley on the Fed's policies.--------

    "Rage in a Cage?" There's probably less scripting done in a WWF wrestling match.

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  3. See the TimesOnline article "Is there any gold inside Fort Knox, the world's most secure vault?"
    http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5989271.ece

    It seemingly is a fair news account until the end when it throws in unrelated 'conspiracy theories' to put the audit the gold debate in the same category as UFO's, etc.

    "Poisoning the well" is an old propaganda technique still put to use by the MSM to discredit any relevant questions.

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  4. One way to solve the Ft. Knox gold riddle. Open the doors for the public to see its gold and have an independent testing of the bars done.

    It makes sense that the Fed would want a tangible asset like gold to back up their Monopoly money.

    They know damn good and well they're printing worthless paper certificates backed by nothing except the "full faith and credit" of the US government.

    Try going into your local bank and ask for a $100,000 dollar loan.
    When they ask for collateral, tell them you'll back up the loan with your "full faith and credit" and see how long it takes for the bank to bounce your ass outside..after the loan officer dies from laughing.

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  5. BEWARE OF THE ULTRA-RIGHT WING EXTREMIST TERRORIST MOVEMENT IN TENNESSEE !!

    Hello all: We are in a very delicate, dangerous and economic-unstable times which kills reason in many US citizens. I know that Obama is a corporate puppet, and that the Democrat Party is a capitalist-party. However, people should not support extremists, radical far-right movements as the solution for our problems.

    Even a far-right wing TN Nazi Republican Party congressmen wants to pass a resolution to ban socialism in TN, and in USA.

    I mean, what the f*ck is going on in the United States of America? are people losing their minds or something?

    When you hear that a US Congress lawmaker wants to ban socialism in USA, you know that something smells fishy. And that americans should wake up and smell the spectre of nazism and fascism alive in America.

    http://www.waaytv.com/Global/story.asp?S=10188368

    Tennessee is a dumb, fat and fascist state, full of dumb, fat and fascist people even TN congress people are real dumb.

    A TN Republican Party lawmaker wants a law to ban socialism in TN. (What a f*cking asshole)

    .

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