Quotes-Sayings: Money and Federal Reserve System

"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States." - Barry Goldwater

Bernanke says Fed can take on supercop role

Bernanke says Fed can take on supercop role

So the Fed which some of our politicians seem to not want audited wants to police financial institutions. Are we still stuck on stupid our what?

You deposit your hard earned money in the bank. You decide that you would like a statement and your balance. Your bank decides that you can not get a statement or your balance. You now want to give the bank more of your business by letting them manage your other financial matters. If that makes since sure let them police the financial institutions but, it does not so why is this even a subject.

Today's Famous Money And Politics Quotes

"...for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 -- that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost."
Thomas Edison

Today's Famous Money and Politics Quote

"This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs the Bill, the invisible government of the Monetary Power will be legalized... The worst legislative crime of the ages is perpetrated by this banking and currency Bill."
Congressman Charles A. Lindbergh Sr.

HR 1207: Why Should The Federal Reserve Be Audited?

All there is to say really is that there are enough quotes in this blog to give you a clue what is going on. Why would you not want to audit the Federal Reserve? Most businesses are audited at some point? Truth be told the Federal Reserve should not even exist. A private company controlling a countries monetary supply makes zero sense as their obligation is always to it's owners and shareholders.

Today's Famous Money and Politics Quote

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

Thomas Jefferson

Federal Reserve Could Become A Supercop Makes Zero Sense

Trying to figure out how it makes sense to have a private company watch over other private companies. If anything is sounds like the Federal Reserve is too big. Government is growing by leaps and bounds yet they can't figure that out. They all have to be stuck on stupid for even making this suggestion.


AP sources: Obama wants Fed to be finance supercop


May 9, 7:29 AM (ET)

By ANNE FLAHERTY

(AP) Treasury Secretary Timothy Geithner, left, and Federal Reserve Chairman Ben Bernanke gather in...
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WASHINGTON (AP) - The Federal Reserve could become the supercop for "too big to fail" companies capable of causing another financial meltdown under a proposal being seriously considered by the White House.

The Obama administration told industry officials on Friday that it was leaning toward making such a recommendation, according to officials who attended a private one-hour meeting between President Barack Obama's economic advisers and representatives from about a dozen banks, hedge funds and other financial groups.

Treasury Secretary Timothy Geithner and other officials made it clear they were not inclined to divide the job among various regulators as has been suggested by industry and some federal regulators. Geithner told the group that one organization needs to be held responsible for monitoring systemwide risk.

"Committees don't make decisions," said Geithner, according to one participant.


Officials from the Treasury Department and National Economic Council, which hosted the meeting, told participants that the Fed was considered the most likely candidate for the job, according to several officials who attended or were briefed on the discussions.

The administration officials said a legislative proposal would likely be sent to Capitol Hill in June with the expectation the House Financial Services Committee, led by Rep. Barney Frank, D-Mass., would consider the measure before the Independence Day recess.

The officials requested anonymity because the meeting had not been publicly announced and they were not authorized to discuss it.

A Treasury Department statement provided to The Associated Press on Friday confirmed Geithner's position that he wants a "single independent regulator with responsibility for systemically important firms and critical payment and settlement systems."

A spokesman said Geithner also is open to creating a council to "coordinate among the various regulators, including the systemic risk regulator."

The Fed itself hasn't taken a position on whether it should have the job, although Chairman Ben Bernanke has said the Fed would have to be involved in any effort to identify and resolve systemwide risk.

http://apnews1.iwon.com//article/20090509/D982MI580.html

Explaining Inflation The Easy Way

Lots of Folks Ask about Inflation and what it is well here you go.