Tomorrow is May Day, a commie holiday...
well that's not fair, since this country seems to heading to socialist one world governance. I know, I know...Stop bashing Obama you right wing kook...well, to be honest, I could care about Obama...its the total descent into one world governance that bugs me. I am talking about globalization of currency.
Ron Paul is right when he says the Federal Reserve is illegal, the constitution clearly says the Treasury of the United States shall issue currency, and says nothing about the Federal Reserve... check this out
or read a excerpt of the testimony:
Rep Michele Bachmann questioned Tim Geithner and Ben Bernanke on 03/25/09 and took a position rarely seen in Washington DC. In short, her position is that which is enshrined in the 10th Amendment - “Where in the Constitution are the Treasury and the Fed given such powers?”
Bachmann: What provision in the Constitution could you point to, to give authority for the actions that have been taken by Treasury since March of 08?
Geithner: Oh, uh, the Congress legislated in the emergency economic stabilization act a range of very important new authorities..
Bachmann: Sir, in the Constitution. What in the Constitution could you point to, to give authority to the treasury for the extraordinary actions that have been taken.
Geithner: Every action that the treasury and the fed and the FDIC is….been using authority granted by this body…by the Congress.
Bachmann: And in the Constitution, what could you point to?
Geithner: Under the laws of the land, of course.
Bachmann: And if I could move to the federal reserve chair, if you could point to what provision in the Constitution that would give authority to the federal reserve - this has been over 10 trillion dollars that we’re talking about.
Bernanke: I don’t know where 10 trillion dollars comes from. The congress has the right to authorize funds, which is what they did in the TARP program, and they have given us in the 1930s…they gave the federal reserve the power for emergency lending as a means of addressing financial crises which is what we’ve done.
Bachmann: And to the federal reserve chair - Do you believe there are any limits on the authority that the Federal Reserve has taken since last March…of 08?
Bernanke: The loans we make have to be fully secured and collateralized. (WT-how do you collateralize 10 TRILLION dollars???) We have practical limits in terms of our ability to manage monetary policies. So there are obviously limits. We have reported extensively to the Congress on all the actions we have taken, and the actions we’ve taken have been solely and entirely for the purpose of protecting the American economy from the effects of financial collapse.
"...entirely for the purpose of protecting the American economy from the effects of financial collapse."
ReplyDeleteYeah, right, the collapse their issuance of confetti precipitated!
I have talked several times about the Federal Reserve and no one seems to care. They don't care the Fed is a private bank making a trillion a year tax free. They don't care that the Fed is printing monopoly money at the expense of the taxpayers. Most think it is a part of the federal government. I have two degrees holding neighbours, one or both was university instructors, that argued to me that the fed was a branch of the government. See how ingrained it is in the minds of the people? JFK went up against the Fed and it may have cost him his life.
ReplyDeleteThe Federal Reserve Bank has no oversight and can not be audited, it had laws enacted to prevent such things.
ReplyDelete