Treasury Department Seeking New Powers For Fed

Welcome to the 4th branch of the government...and soon the most powerful....if it already isn't.

goodbye to the House, then the Courts, then the president.....

hello to a new form of fascists dictatorship.

This proposal by the Treasury is BACKWARDS. The US government should be taking over and regulating the FED. The FED is a CARTEL of international bankers who tell the government what to do. The FED is NOT an agency of the US government. WAKE UP. Your government has been handed over to fasists corporatists.

Is it January 2009, yet?

Of course the frb want's everything the same with more power to act faster. Look at the deal jp morgan chase just got from bs - one of the frb owners.

I am still waiting for the day Americans wake-up to the full scope and extent of Bush bullshit.

I listened with interest today to "This American Life" today on the local public radio station wherein Ira Glass presented a few stories about the extent to which NeoCon/Unitary Executive proponents have decided to meddle in the smallest details of our lives by drawing at every opportunity a bright red line between what you can do and the what the President can control about what you can do.

I haven't always believed the Federal Reserve was a bad thing, but I have come around to believing it. That is a startling thing to realize after more than 4 decades on the planet thinking our nation's interests were best served by it. But that is plainly the wrong conclusion.

I believe concentrating more power and discretion into the hands of this organization is a devastating failure of judgement. I appeal to all citizens who have an ounce of sense to fight this in every possible way.

Read the text and you will see this is a feel good measure, not anything real. Its to make us, the non elite , feel like they are policing the bad guys. They are not.

"While the plan could expose Wall Street investment banks and hedge funds to greater scrutiny, it carefully avoids a call for tighter regulation.

The plan would not rein in practices that have been linked to the housing and mortgage crisis, like packaging risky subprime mortgages into securities carrying the highest ratings.
And the plan does not recommend tighter rules over the vast and largely unregulated markets for risk sharing and hedging, like credit default swaps, which are supposed to insure lenders against loss but became a speculative instrument themselves and gave many institutions a false sense of security."

Our leaders are selected by the MSM and SCOTUS and

our Congress is now the weak willed whore of the MSM.

Our government is being torn asunder from within as

BushCo creates a financial crisis so the corporatists

can remake America in their own fascist image.

Often when the Fed is mentioned in an article on HuffPo, the following comments are sometimes made:

First, the Fed is privately owned and operated and thus not accountable to the government.

Second, the Fed is highly secret and doesn't publish financials.

Third, the Fed earns interest from the US Govt on the currency it issues and thus the taxpayer is being ripped off so private banks can get rich.

I'll deal with each of these topics in a series of further postings.

Two important notes:

(1) Don't infer from these postings that I believe the FRB is the "best" form of central bank or that I think the FRB has done a sterling job at all times. I am trying to correct what I perceive to be misconceptions about the Fed.

(2) If you believe I'm mistaken, I'm willing to listen if you have facts to support your argument.

If you are from the Bill O'Bluster school, save your breath.

It appears that elected government is now obsolete. All hail the Fed!

Not smart to put the foxes in charge of the chicken coop you say. Well then we will put the biggest baddest foxes of all in charge. This is truly the crowning accomplishment of the Bush administration, the dissolution of government by and for the people.

Maybe we should ask why this information hasn't been updated since 2005 . . .

Federal reserve board of governors and official staff: November 1, 2005.

http://federalreserve.gov/boarddocs/rptcongress/annual05/sec4/c5.htm

http://www.ssrn.com/link/board-governors-federal-reserve.html Oh lookie! You can find them here and read about what they're thinking.

http://papers.ssrn.com/sol3/JELJOUR_Results.cfm?form_name=journalbrowse&journal_id=671301

After 9-11 America got the Patiot Act which provided greater individual scrutiny to prevent future occurences. Now after the mortgage meltdown, the Bush administration offers the Financial UnPatriot Act. Corporations, other than commercial banks, remain free to paint investment pigs as high priced hookers.

http://peureport.blogspot.com/2008/03/bush-team-proposes-financial-unpatriot.html

That Arthur Levitt mentioned at the end of the NYT piece works for The Carlyle Group, the politically connected private equity underwriter (PEU). Funny, that fact was omitted. Carlyle remains free to package and sell investments without restraint.

From the Creature (Mr. Hyde?) from Jekell Island:

"The federal government does not own any stock in the System. In that sense, the Fed is privately owned. That, however, is misleading in that it implies a typical private-ownership relationship in which the stockholders own and control. Nothing could be further from the truth. In this case, the stock carries no proprietary interest, cannot be sold or pledged as collateral, and does not carry ordinary voting rights. Each bank is entitled to but one vote regardless of the amount of stock it holds. In reality, the stock is not evidence of "ownership" but simply certificates showing how much operating capital each bank has put into the System. It is not a government agency and it is not a private corporation in the normal sense of the word. It is subject to political control yet, because of its tremendous power over politicians and the elective process; it has managed to remain independent of political oversight. Simply stated, it is a cartel, and its organization structure is uniquely structured to serve that end."

ok

After all this administration has done to destroy our government why on earth should we consider any changes they propose? I say wait until 1-20-09 and let the chips fall where they may.

FU FED - FU!

Folks, it's time to switch to barter and trade, and throw their fake funnymoney back into their faces.

Who the h*ll are they to dictate to us what we must value? F*ck-em.

IT IS TIME for that boycott and strike. Running around in the streets waving pitchforks will only encourage them and their plans for martial law, so hit em where it actually hurts. It's time to grow our own (non GMO, non Monsanto, thank you) foods and distill our water. It's time to snap our (empty anyway) wallets SHUT. It's time to pool our nonmonetary resources and say "f*ckem."

Be nice to your neighbors; you'll need each other soon.

Wow, this govt and administration really doesn't get it or is so damn corrupt and evil!

SAY GOODBYE TO YOUR COUNTRY FOLKS. Obama and Hillary aren't going to save you, they will just continue to be blind of this and manipulated, same with Mccain. The only candidate that would have solved this was Ron Paul. He spoke and warned us all about this and you chose what looked best instead of what is best for our country. I would blame our govt and administration but the people kind of screwed themselves.

Anything they do will be a conspiracy and in violation of The Constitution.

I sometimes wonder if the bankrupt "superpower" will be able to scrape together the resources to bring home the troops stationed in its hundreds of bases overseas, or whether they will just be abandoned.

Actually, it's worse. Bankers Paul Warburg, John D. Rockefeller, J.P. Morgan, Eugene Meyer, and John McCloy were all basically Nazis, German bankers that established the Federal Reserve and the World Bank, with the purpose of robbing, controlling, and destroying America. Meyer was responsible for getting Prescott Bush into business and McCloy, who appeared both in the box with Hitler at the 1936 Olympics and on the Warren Commission, did everything else. These 5 Banking families are basically responsible for everything from World War ll , the Great Depression and the Kennedy Assassination to 9 /11. If you don't think the Rockefeller's were in on 9/11 watch Aaron Russo's interview on You Tube. Rockefellergate. What I can't comprehend is how the United States Congress was able to send General Patton and General Omar Bradley to Germany, tens of thousands of troops to land at Normandy to defeat the Nazis, yet are so afraid of George Bush they are afraid to investigate a few Bankers at the Federal Reserve and the World Bank. Last night on the Bill Maher show, actor John Cusak said something like " I'm not willing to turn the Constitution over to these thugs." A true patriot.