HR 1207: Bernanke threatens the people

[BABronco]

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My concern about the legislation is that if the GAO is auditing not only the operational aspects of our programs and the details of the programs but is making judgments about our policy decisions, that would effectively be a take over of monetary policy by the congress. A repudiation of the the independence of the federal reserve, which would be highly destructive to the stability of the financial system, the dollar and uh our national economic situation.

Does the FED deserve its own independence?

What about that god damned piece of paper?

If the congress audits the FED will we see major damage done to the dollar?

If we see a major drop in the dollar will it be worth auditing the FED?

[Spider]

I would comment if I could understand what in the hell he is saying

[Seamus]

The FED's monetary policy being scrutinized and regulated by the jokers that created this mess as we march down the road to socialism by not letting a crisis go to waste is insane! do we expect them to monitor the FED like they did with the TARP funds?

The FED should maintain independence.

Who would then tell congress "you got to cut the deficit to maintain $ integrity"? Or government spending is out of control with the potential to devalue the dollar and increase inflation.

The task of the Fed is, in effect, to create asset bubbles, but to do so in a politically pleasing, sustainable manner, i.e., ideally, to create a never-ending bubble. The bubble is for the convenience of government. It facilitates tax collections. It eases the burden of deficit financing (on the government, not on the people). By creating rising aggregated economic statistics, it deludes the populace into thinking politicians and their economic advisors promote "economic growth." The never-ending bubble is the financial wizardry behind the never-ending growth of the welfare state.

It is, thus, an amazing irony that the Obama Administration touts the Federal Reserve System as the logical choice to become a new "systemic regulator." Having recently financed the asset bubble that undermined the financial system, the Fed is the only institution that has the power to cause similar catastrophes in the future. Quis custodiet ipsos custodes? This will be our economy's protector? More like its worst nightmare.

[watermock]

I've been explaing this for over 2 years.

Bernake owns Obama/ congress and the SC and the trasury. and is throwing down the gauntlet.

The fed owns the trasury and the national debt, tho it's a cartel of international bankers.

I'm tired.

The bankers have produced a coup.

I've expined this several times.

It's happening right in front of us.

[BABronco]

Who would then tell congress "you got to cut the deficit to maintain $ integrity"? Or government spending is out of control with the potential to devalue the dollar and increase inflation.


Well I'm assuming the voters would be able to vote them out of office if they were not satisfied with their job. Unlike the Fed were its just there with nobody knowing exactly what they were doing or why.

[Odysseus]

I've been explaing this for over 2 years.

Bernake owns Obama/ congress and the SC and the trasury. and is throwing down the gauntlet.

The fed owns the trasury and the national debt, tho it's a cartel of international bankers.

I'm tired.

The bankers have produced a coup.

I've expined this several times.

It's happening right in front of us.

This has been happening since J.P. Morgan's day and nothing is going to stop this from going forward. The American public got played a long time ago and all Obama (or anyone can do) is negotiate with the pirates in control.

Politics is an ugly business. If you tell the truth even that truth is subject to lies and negotiation. It always comes down to what you can prove.

I agree. It was coup. Now what? Kill Fidel? You know how well that worked. The endgame for every American is understanding that what freedoms we have LEFT we have to understand, defend and preserve. Things are going to continue to get worst and when we finally get an IP and a bar coded printed on every American (in the name of safety / freedom / Our way of life) then everything you think you are saving will at that point REALLY be lost.

There is still hope. There is still a little time.

[Odysseus]

Well I'm assuming the voters would be able to vote them out of office if they were not satisfied with their job. Unlike the Fed were its just there with nobody knowing exactly what they were doing or why.

The cumulative effect is the same. 12 slices of cake turn into 10. Vote them out of office. 10 slices of cake turn into 5. Vote them out of office.

We don't get back things that we lose in this process. Freedom is negotiable just like the value of the dollar. Things tend to go one way in business and very seldom reverse without some strong wind blowing the other way.