Senator Jim DeMint slams Fed’s monopoly, questions where trillions in bailout funds has gone
Paul Joseph Watson
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.
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“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.
This article was posted: Tuesday, July 7, 2009 at 5:35 am