Senate Measure For Fed Bailout Disclosure Is Not Good Enough

Amendment will not be enforceable by law

Steve Watson
Infowars.net
Friday, April 3, 2009

The Senate has introduced a measure into the budget blueprint for fiscal 2010 asking the Federal Reserve to disclose the names of institutions that received bailout money. Good, but not good enough, because it will not be enforced.

Reuters reports:

In an unusual political challenge to the Federal Reserve, the Senate on Thursday called on the central bank to disclose the names of institutions that receive emergency loans and pushed for a study to determine the “appropriate” number of regional fed banks. [...]

The amendment approved by the Senate calls on the Fed to identify each firm it has given assistance to, how much the assistance was worth, and what the firm is doing with the money.

The measure is little more than a token gesture, however, because as the report states “The budget resolution is non-binding and would not have the force of law.”

Back in November the privately owned Federal Reserve failed to comply with congressional demands for transparency and disclose the destination of at least $2 trillion dollars in bailout funds.

• A d v e r t i s e m e n t

Bloomberg News requested details of the Fed lending under the U.S. Freedom of Information Act and filed a separate lawsuit in an effort to find out where the money has gone.

Yet still the Fed refuses to reveal the details, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information.

Last month Federal Reserve Chairman Ben Bernanke arrogantly refused to tell Senator Bernie Sanders which banks were in receipt of government loans and why only large greedy incompetent multinational organizations are allowed access to loans, while small and medium-sized businesses are left to rot.

Watch video of Bernanke’s testimony as he refused to disclose where taxpayer funds had gone:

There is no accounting for the spending. The Federal Reserve, which is owned and run for the most part by European banking elites, has never been audited and is accountable to no one, as former chairman Alan Greenspan has explained:

A private corporation and a gaggle of bastard banker children sucking on its teat, have effectively gobbled up trillions plus in taxpayers’ money and figuratively stuck the middle finger up regarding questions over where that money has gone.

The figure now stands at $12.8 trillion, an amount that approaches the gross domestic product of the nation, that is the value of everything produced in the U.S last year.

Quite inconceivably this outright theft has been termed a “rescue”, yet it has had no effect whatsoever other than to actually increase the severity of the financial downturn, allowing the same elites to exploit the crisis as a pretext for centralizing control of the world economic system and creating a new world order and a single global currency.

If the American public really wants to know where it’s money has gone and who they are now in debt to for the rest of their lives, their children’s lives and their grandchildren’s lives, and if they want any kind of economic future at all, it is going to take a lot more than an unenforceable Senate measure.

A good place to start would be www.EndTheFed.us

This article was posted: Friday, April 3, 2009 at 10:16 am

---

---

---

---

Infowars.com Videos:

Comment on this article

Comments are closed.