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> Senate Blocks Bill To Audit The Fed, As Government Prepares For Second Round of Looting
Fremen Bryan
post Jul 9 2009, 12:22 PM
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Senate Blocks Bill To Audit The Fed As Government Prepares For Second Round Of Looting

Senator Jim DeMint slams Fed's monopoly, questions where trillions in bailout funds has gone




Paul Joseph Watson
Prison Planet.com
Tuesday, July 7, 2009





A Senate amendment based on Congressman Ron Paul's successful House bill to audit the Federal Reserve was blocked by the Senate yesterday evening on procedural grounds, as Jim DeMint slammed the Fed for refusing to disclose where trillions in bailout funds had gone, while a top Obama administration advisor called for a second "stimulus" package to be prepared.

Republican Senator DeMint had attempted to get a provision attached to the 2010 spending bill that would have removed restrictions on auditing the Fed's discount window operations, funding facilities, open market operations and agreements with foreign central banks and governments.

However, the amendment was blocked by Senate authorities who claimed that it violated rules for provisions attached to spending bills.

Of course, when the elite want to get their own legislation rammed through, such as the recent climate bill in the House, it's perfectly fine for Congressmembers to be prevented from even reading it, for it to have 300 pages added at 3am in the morning before the vote, and for all kinds of pork barrel to be attached. But God forbid should representatives actually try to pass something that would benefit the American people and not the private bankers that are beyond all scrutiny and above the law.

DeMint said that the Fed has enjoyed a monopoly over money and credit in the United States since 1913 yet has never been transparent or accountable to Congress, while during that time the dollar has lost 95% of its purchasing power.

"The Federal Reserve will create and disburse trillions of dollars in response to our current financial crisis," DeMint said. "Americans across the nation, regardless of their opinion on the bailout, want to know where the money has gone," he added, referring to the Fed's refusal to disclose where trillions in bailout funds has gone.

"Allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation and a lower quality of life," said DeMint.

A Reuters article about the Senate's move to block the bill said that the Federal Reserve was "facing growing pressure as it tries to heal the ailing economy."

In reality, the Federal Reserve has done nothing to "heal" the economy as unemployment outstrips expectations and the financial picture only looks bleaker every day. The private, run for profit Fed has taken trillions in "stimulus" funds and refused to even divulge where it has gone, even under threat of lawsuits file by Bloomberg.

Meanwhile, people like Ben Bernanke have committed financial terrorism by threatening an economic collapse if the Fed is allowed to be audited.

Any real audit of the Fed would of course create a giant roadblock for the Obama administration's plans to launch a whole new program of looting and grand larceny in the guise of a second "stimulus" package.

"We should be planning on a contingency basis for a second round of stimulus," Laura D'Andrea Tyson, a member of the panel advising President Barack Obama on tackling the economic crisis, said on Tuesday," reports CNBC.

This is precisely why Senate authorities, bought and paid for by the private bankers that now own the United States, have blocked efforts to audit the Fed, because they know that the fallout will spell disaster for their place on the power peanut gallery and in turn end the ceaseless feasting at the trough of the battered, bruised and shaken-down American taxpayer.

Watch a clip of DeMint's comments on the Senate floor yesterday.





While they still have the power these demons will do what they will. Damn them til eternity. Peace and power to the true and benevolent. Peace. We have to remember, it is all about peace. rj


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Fremen Bryan
post Jul 9 2009, 12:28 PM
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“Things are about to become ugly. Very Ugly.”
http://revolutionradio.org/2009/06/28/the-...mic-apocalypse/
“Things are about to become ugly. Very Ugly.”

Posted on Jun 28, 2009 by Paul Martin in Civil War II, Economics, Government Evil | 0 Comments
The Coming Economic Apocalypse

By: Roy F Grieder
Jun 28, 2009
Astonishing to me is the fact that no one seems to understand the ultimate result of the current policies and practices of Washington D.C. and the Federal Reserve Bank, the Fed. I have studied our economic situation for about 3 hours per day for the last 8 months and conclude we are bankrupt. Think about the facts.

Certainly most of the automobile industry, the airlines, 37 out of 50 states, are bankrupt. The lending industry, Fannie Mae, Freddie Mac are bankrupt. Insurance giant AIG, bankrupt. The Pension Benefit Guarantee Corporation, or PBGC, the Federal Deposit Insurance Corporation, or FDIC, Social Security including Medicare and Medicaid are rapidly approaching insolvency.

In 1929 personal and corporate debt had risen to 365% of Gross Domestic Product, or GDP, before the Crash. We are now at 375% of GDP. So all of this excessive credit got us into this mess in the first place, right?. And the government and Fed solution to this mess is to print up an extra trillion dollars or so, give it to the lending industry and yell “Lend!, Lend!”. That should work, right?.

Remember TARP?, the money given to the banks and others to remove their “Toxic Assets” (sorry too harsh, let’s rename them “Troubled Assets.) Well, the toxins still remain. They exist in the form of Financial Derivatives, Credit Default Swaps, or CDS, and Collateralized Debt Obligations, or CDO. These financial instruments sound complicated, and they are. They are the inventions of Wall Street wunderkinds, the ones that get paid a couple of millions per year for their “brilliance“. The worldwide market (if you could call it that) or value of CDS is in the neighborhood of 600 trillion dollars, or 10 times the entire Worlds yearly economic output. How the banks and insurance giants are to clear their balance sheets of these toxins is no mystery . They cannot. Was it wise to take TARP money, 20 billion dollars, give it to General Motors when their market cap (the value of their common stock) was 985 million?. Will they pay us back?. No. They are bankrupt. The TARP was a fraud from the start, but it has bought the powers that be some time. Time, time for what?

There is a fever pitch rush to consolidate control over us by the government and the Fed. Look what they are doing to the banks, insurance, lending institutions, auto industry, airlines. Let’s now add health care. By the way, let’s appoint czars and give them power not granted by the Constitution. Why?, what’s the rush? To gain control before we go “out of control”?.

And now 37 out of 50 bankrupt states need to raise fees and taxes, and so does our federal government to pay for “free” healthcare. Raise taxes during a deep recession?, worked great in the early 1930’s, right?. Are these people idiots? Yes they are. Why not have a 2 trillion dollar deficit this year, and run up the national debt to 20 trillion dollars in a few years. Interest on the debt would only be 1 trillion a year at 5 per cent. Chump change. Government borrowing on such a massive scale will compete for the money in the open market and will make overall interest rates rise . Rates already rose a few weeks ago during a large treasury auction. Watch this carefully, mortgage rates will respond by going up. Think what this will do to the already very ill housing market.

Some “experts” as of late say they see “green shoots”, signs of economic recovery. What they “see” may be self-serving or it could be these people are delusional. The Fed Chief, Treasury Secretary, Congress and the President are lying to us. We are bankrupt and they know it. You can put a bandage on a gangrenous appendage and it looks fine, but if the appendage is not amputated the body will die. A bandage is all that is being applied to this gangrenous economy. Toxic.

So, where are we headed?. I suppose the Fed and the Treasury could just continue to print more money. Right up to the point it becomes worthless. The Weimar Republic of 1930’s Germany tried this. In the end the “money” was used to start a fire in a stove or was used as toilet paper. D.C. is too smart for this, right? Is there another way out of this mess?.

During my research I floated the following question to 10 people of various economic means. “If you were told you had no more debt but got to keep what you had, but also you had nothing in your bank or 401K or stocks or IRA, just start anew” 9 out of 10 replied “That works for me”. Astounding, but very telling. How these people responded, along with my research, and what is unfolding (actually unraveling) leads me to the following.

We are going to wake up one morning and Matt Lauer will inform us of the following. “I’ve got good news and bad news for you, America. The good news, for most of you, is that there is no more debt. No government debt, personal debt or corporate debt. You get to keep what you have, your house, your cars, your flat screen TVs. You owe nothing. The bad news, for some of you, is that there are no assets. Your bank accounts are empty, all stock is worthless, and there is nothing in your 401K or IRA.”

None of our “leaders” in D.C. will want to take the blame for this, and will need an excuse for this. Most people will understand and even forgive how this happened when Matt goes on to say:

“What I have told you is the direct result of a computer virus that has infected the worldwide financial complex that completely melted the balance sheets so that no one knows who owes what to whom anymore. This is why we have to start over. Just think of it as hitting the reset button. Details on the new government monetary system will come out shortly.” Problem solved, all absolved.

When the firestorm arrives, you will be glad you live in New Hampshire. At least here we may have a chance. During the dark days of the 1930’s peoples faith and morality held society together. Not so today sadly. Talk with your family, friends and neighbors. Come up with a plan.Things are about to become ugly. Very Ugly.


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