Fed dodges bullet as House drops audit idea
WASHINGTON - The Federal Reserve scored a political victory on Wednesday as Democrats mulling financial reform backed off measures that would expose monetary policy to audits and make the head of the New York Fed a political appointee.
The U.S. House of Representatives had approved a bill in December that included a provision, championed by Texas Representative Ron Paul, that would have opened the Fed's interest rate policy to congressional audits.
But in a statement on Tuesday, House Democrats participating in negotiations over a final financial reform bill signaled a willingness to live with a narrower Senate audit provision that does not cover monetary policy.
Over two-thirds of the House Of Representatives approved Ron Paul's bill to audit the Fed. They did so because 80% of the US public wants the Fed audited. It would appear then that "Of the people, by the people, and for the people" is no longer in the lexicon of our democratic government. It's all about what the banks want. After all, they bought and paid for most of the people's Congress.
The US Congress created the Federal Reserve in 1913. The US Congress is therefore directly responsible for the theft of the wealth of our nation by a cadre of crony bankers that have been counterfeiting money for nearly 100 years and charging the government and the people interest on it. This is a capital crime. A crime punishable by death according to the US Constitution.
The Federal Reserve literally holds America hostage. They charge America interest to borrow money to pay the interest on already existing debt. It is a private for profit bank, owned by private stockholders purely for the stockholders profit. There is nothing "federal" about the Federal Reserve, AND it has NO reserves.
Is it any wonder then, that the Fed does not want to be audited? It is an evil and corrupt institution that has bankrupted the United States. Perhaps it is this fact that keeps Congress from exposing the truth about the Fed. Imagine the reaction of the general public were they to learn that a private bank was given control of the nation's checkbook by the Congress, and the Congress did nothing to stop this bank from looting America. If the Fed has nothing to hide, why fight an audit?
The Money Masters - How International Bankers Gained Control of America
"The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..." THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure that rules our nation and the world today. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned "central" bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation, including America, has fallen prey to this cabal of international central bankers.
Buying gold in June and July has been very profitable for years
Jonathan Kosares and Randall Strauss of Centennial Precious Metals in Denver have updated Centennial's annual analysis of the success of buying gold during its summer doldrums, in June and July, a practice that over the last 39 years has averaged a gain of 7.5 percent by the end of the year and over the last nine years has averaged a gain of more than 11 percent by the end of the year. The Kosares and Strauss analysis is headlined "Getting Gold: Seasonal Price Trends are Favorable for Summer Purchases" and you can find it at Centennial's Internet site, USAGold, here: