Letters to the Editor
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Here Comes the Fed ... Pure Shock Doctrine ...
Let's be clear, this is an accumulation of power away from the states and the SEC into the arms of the private bankers ... The Federal Reserve Corporation and its' shareholders the member banks.
FYI : The Federal Reserve is a private corporation run by and for the private bankers.
The CEOs of CITI, JP Morgan, BofA and the rest sit on the board of New Yorks' Federal Reserve Bank, the most powerful Federal Reserve Bank ...
The Federal Reserve is supposedly accountable, but in reality answers to no one. Their nominees to their board are chosen from a list compiled by the Fed, the President must choose among their chosen. The Federal Reserve has never been audited by an outside entity, for over 95 Years now!
It is time to fire the Fed and establish a Public Central Bank. A Public Bank that answers to Congress, that gets a thorough audit every year, that prints our money without charging interest on it !
And what is Barney Frank talking about? Giving away the store to the privately owned and operated Federal Reserve ...
Liberals and Progressives, and their web sites, had better get up to speed on who and what the Fed are and how they are gouging America for hundreds of billions through favoritism and the monopoly of charging interest on the money they print for we the people.
"The Money Power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes."
~ Abraham Lincoln
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Too Many Posts Today...sorry
Just thought it might be interesting to compare the readership of columns like this one to those weighing Hillary's Bosnia gaffes against Obama's Wright association.
I don't suppose too many people paid attention to the policies of the Hoover administration either...at least at first.
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Dotted with Poison Pills
There is a long and winding road any reform of financial regulation must travel, therefore I wouldn't put much stock in what is actually here. This particular proposal would not be taken seriously if it weren't for the current crisis. It is worth remembering that this initiative had nothing to do with the credit crunch. The Treasury's review of financial regulatory structure was started back in the halcion days when dealers in subprime securities still had a license to print money. So please remember that this is nothing more than an ideological document, rebranded as a response to the crisis to give it more traction.
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A scam
This is basically a scam. The Bush administration is under tremendous pressure to do something. They latch onto the most toothless idea and also, BTW, the option that demands the federal government do essentially nothing for ordinary people who are losing their homes or their investments. A total scam.
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By The Bankers, Of The Bankers, and For The Bankers
The Federal Reserve System is an unconstitutional cabal of big moneied interests dedicated to its own expanding wealth and power. The People have mandated in Article I, Section 8, Clause 5, of the United States Constitution that "Congress shall have the power to coin money and regulate the value thereof and of any foreign coins." Nowhere does the Constitution authorize Congress to yield its powers and responsibilities to private subcontractors.
The Federal Reserve System has decided that its member banks can garner the most wealth by constantly inflating the currency and we have witlessly accepted this concept as being natural and right. However, what it really does is steal value from saved money, forcing it into the stream of investment capital the banks control.
Rather than reforming the Fed, we'd all be much better off liberating ourselves from it entirely.
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class war
the last time corporate fat-cats got a little too complacent, in the years following the McKinley administration, things got a little hot for them, if you recall.
Not hot enough of course. Big money has a way of slithering out of every attempt to control it. If we've learned anything in the last 150 years, it should be that.
So, I don't have a lot of confidence that we'll get a lasso around these guys anytime soon. But if the chasm between the haves, and the rest of us, gets too wide and too deep, we may see a certain amount of restlessness.
One way to deal with this would be to tax the shit out of these guys. Then a lot of this funny finance would simply disappear, as it became more trouble than it was worth..
Put the tax rates and progression where they were at the end of WWII, and we might even see a new day in America, even with the summit of the oil-economy now clearly in sight.
Giving away all our wealth to those who are already wealthy is no way to run a country. The French found that out the hard way in 1795...as did the Russians about 100 years ago.
You'd think the capitalist pirates of today would understand that. Apparently not, though. They probably figure they control the government and the military, what do they have to worry about? They may have a point. But it seems to me they're pressing too hard. This situation has the potential to blow up in a lot of wealthy faces, by-and-by.
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Ideologues
There is a fundamental mind-set at work in the US, it's one driven by ideology in the face of realism. Despite all the manifest failures of the Chicago School experiments at home and abroad, the solution being offered is more of the same.
As Benjamin Franklin said: "The definition of insanity is doing the same thing over and over and expecting different results." Yet this has increasingly come to describe America's approach to problems, be they domestic, geo-political, economic, environmental or social.
Americans can choose to reduce the upcoming elections to sound-bites or as simplifications of complex platforms, and in the case of the Republicans it would seem this still provides an accurate understanding of their positions. Or Americans can demand accountability and leadership to produce results and solve problems regardless of ideology, regardless of party.
Its time for Americans to wise up and throw the neo-cons out of office and reject their hollow and thoroughly bankrupt policies, not in favor of a new ideology, but in favor of realism. A new paradigm is required to fix the problems we face as a global society, a paradigm where results and reality will trump vested interests and ideology.