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The Fed’s “Independence” Argument is False
George Washington Blog
Friday, July 10, 2009
The Fed’s main argument against an audit by Congress is that it would interfere with the Fed’s “independence”.
For example, in his Congressional testimony yesterday – entitled “Federal Reserve independence” – the vice chair of the Fed used the “i” word 30 times.
What Does Fed Independence Mean?
The Fed is pretending that it is merely trying to insulate itself from political pressure, and that politician’s re-election concerns should not interfere with sound “monetary policy”.
That sounds good, doesn’t it?
But it is a red herring.
Congress is elected by the people, and the people can throw the bums out if they don’t listen to the people’s demands. So even though most congress members are political hacks, they are subject to at least some accountability.
(ARTICLE CONTINUES BELOW)
The Fed, on the other hand, is subject to no accountability. The Fed is refusing to provide Congress any information on where the trillions of dollars it has handed out have gone. The Fed is also refusing to disclose what toxic assets it has taken from the banks and put on its own books.
And there are a few congress people who actually have the best people’s interests in mind, and want to hold the Fed accountable – on behalf of the people.
What the Fed is really arguing is that it should not have to answer to the American people.
Because if the American people knew what the Fed was really doing, they would demand that it be terminated immediately.
What is the Fed Hiding?
Remember, As the Fed itself admits, the Federal Reserve Banks are private organizations owned and controlled by their private member banks.
According to many PhD economists (such as Marc Faber), the Fed caused this economic crisis, as well as the Great Depression.
The Fed has also replaced assets with some real value with toxic derivatives on its balance sheet, in order to act as a giant garbage disposal for the big-stakes gamblers at the giant banks.
And the Fed makes trillions of dollars in profits for its member banks by creating credit which the U.S. government has every right under the Constitution to create itself. In other words, the Fed’s member banks get trillions in interest charges from the U.S. government and the taxpayer which would not be incurred if the government created the credit and money itself.
The Fed has also violated the Federal Reserve Act and other laws. In what ways? Well, I can guess at probably 10 or more categories of unlawful activity off the top of my head.
But we’ll have to await a real audit to get the full list.
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36 Responses to “The Fed’s “Independence” Argument is False”
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July 10th, 2009 at 2:05 pm
Fuckin
Evil
Demons
No To NWO Reply:
July 11th, 2009 at 11:47 am
Do you really think the Fed is going to hand over any truthful information to us. The Fed audit is going to be the new 9/11 Commision Report lol and we all know how that went.
I’m optimistic but don’t be delusional and think that the Fed is going to give you the truth. Prison Planet readers are drinking too much cool-aid. The Fed will not give out that audit info, and if it does, it will be bogus info.
Like I said, the Fed audit will be the news 9/11 Commission Report.
We have to try and audit the FED, but they will most likely give — the Congressman and us — the run around and their version of the truth.
No To NWO Reply:
July 11th, 2009 at 11:49 am
Too much freedom fighter cool aid
July 10th, 2009 at 2:24 pm
Independence? From political influence? Just like the Inspector General’s recently fired?
July 10th, 2009 at 2:35 pm
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- Actor John Rhys-Davies (Gimli):Reclaiming Your Liberty
- Dr. Francis A. Boyle:State Sponsored Terrorsim
Backup your favorite episodes, don’t miss any!
July 10th, 2009 at 3:57 pm
we all know whats gonna interfere with the Independence! when we cut the umbilical cord flow of cash to useless criminal bastard, politicians, bankers, judges, lawyers, all useless lying pigs and that aint even half of them! just scratching the surface
pitofdoom Reply:
July 11th, 2009 at 9:40 am
Cut in 1/2 the entrenched corrupt pyramids of bureaucracies TODAY,
then just sit back and enjoy the crying!!
July 10th, 2009 at 5:36 pm
Eustace Mullins exposed those bastards in his legendary book Secrets of the Federal Reserve! Thoms Jefferson, George Washington, and Andrew Jackson all warned Americans what would happen if they allowed those bankers to take control over our financial sovereignty! And the ADL denies it all! What a laugh! It is time to take a look at UN resolution 3201 and 3202 to see what the UN is really all about and why American jobs are required to be sent overseas! It is time Americans find out about the central bankers core secret of the global development and plunder scam! Keep an eye out for the ADL’s ernie 1241. He will come crawling around here sooner or later to deny it all with his bogus documents.
pitofdoom Reply:
July 11th, 2009 at 9:46 am
It’s all well past reading for one would have to be beyond even crazy not to see!
July 10th, 2009 at 5:41 pm
If the Rothschilds own 52% of the Fed, who are the other members who own the rest? Let us get to the bottom of this. They are not our friends!
July 10th, 2009 at 5:43 pm
Those federal reserve criminals know that death awaits them. Nothing short of a slow and painful death to them all. They can’t hide forever and they know this now. Soon the rest of America will storm there offices and lynch everyone of those scum eating maggots. Crap your pants bernanke. Your day of judgement id=s close at hand.
July 10th, 2009 at 8:59 pm
The only way to stop the looting…
Start shooting.
pitofdoom Reply:
July 11th, 2009 at 9:47 am
It’s Treason into the NWO or hang me think’s….
July 10th, 2009 at 10:19 pm
The truth is even worse!
http://www.pentwhistle.com/
July 10th, 2009 at 10:30 pm
If only it were true that members of Congress were elected by the people, much like the election of the President. That’s about as true as a “real audit” of the Fed. The Senate shot the bill to “audit” the Fed down, that much we know is true. We should also know by now that any opposition the the Fed is nothing more than controlled opposition.
pitofdoom Reply:
July 11th, 2009 at 9:48 am
controlled opposition at very best!
July 10th, 2009 at 11:56 pm
Don’t count Congress out just yet, some of those people are more noble than others.
Ron Paul, for instance:
http://www.econocataclysm.com/.....ry-policy/
Ron MAY actually be able to pull this one out. He’s got over 250 members of Congress behind him now. When we poured two TRILLION dollars down a black hole so these guys could go to Bermuda while we starved, the political pressure reached a kind of critical mass.
But of course the real control behind the Fed is the Bank for International Settlements, the “central bank to central bankers”. They meet once a year, their last was only a few days ago, and they decide what the economic policy of all these central banks will be for the next year. The Bilderberg Group is just a smokescreen, if you understand that the politicians who front the banker’s agenda are just hired acting talent then you can understand what goes on at Bildergerg. The top bankers DO show up at Bilderberg, but THEY’RE the ones giving the orders. At this once a year BIS meeting, the banking cartel decides what the REAl order of battle will be for the coming year.
And, despite all their power, they’re hardly infallible:
http://www.econocataclysm.com/.....inflation/
The uncomfortable fact everyone will have to face is that the world isn’t being destroyed by lizard aliens, or Satan, or even Cthulhu for that matter, and not even “Bob”. It’s being destroyed by a bunch of grown-up ivy leage frat boys with meaningless degrees who obviously don’t have the faintest CLUE what they are doing with the world economy. They ARE on the side of Finance in general, they don’t need to “take over the world” because they’ve ALREADY OWNED IT FOR QUITE SOME TIME. All we’re seeing now is the result of their incompetence, the Peter Principle at work.
And BTW, there WERE airplanes in the air on 9/11. It’s sad that people will look for answers ANYWHERE. Ask yourself HOW 19 men with box cutters got onto those planes that day. the one question even the tinfoil hat crowd won’t ask:
http://www.econocataclysm.com/.....clysm-com/
-JR
July 11th, 2009 at 12:51 am
The Fed is a PRIVATELY OWNED corporation and is not under the control of Congress. No Freedom of Information act will apply, etc. They conterfit money and have enslaved the entire nation. Every FedReserveNote (FRN) or computer entry ever created has been created to satisfy a debt. We are all Debtors-slaves to the Creditor. Only the Creditor never gave anything of value. Your credit card application is funded solely from YOUR SIGNATURE and nothing else. You can wipe out any credit card debt by simply demanding to see the verification of a LOSS on the part of the Company, a lawful contract (2 wet ink signatures-not a unilateral contract), the contract has to spell out exactly what was going on-NO DECEPTION. They cant’ supply these things so NO DEBT-just an even exchange, your sig for money created from nothing. The game of Monopoly is exactly what is going on. After awhile the players lose everything thru debt and only one remains (the difference is that the Fed is always going to win)
July 11th, 2009 at 5:15 am
Well, Andy Jackson-
Take your argument to court and see how well it stands up. You’ll at least cause a few laughs before the gavel signals your need to pay back what you borrowed.
July 11th, 2009 at 7:03 am
I’m sure AL Capone felt his “independance” was important.
FIRE THE FED
July 11th, 2009 at 7:16 am
The Fed is owned by Rothschilds,Astors,vanderbilts,Rockefellers and others. They are nothing more than a blood sucking leech on the backs of working Americans,whether they are blue collar or white collar. Kennedy signed executive order 11110 in June of 1963 and took the power to print and coin money away from the fed and gave it back to congress and the people. Low and behold as we all know the mans head was blown off in November of that year. This executive order is still law to this day,it has neither been amended,repealed or abolished. It still effectively stands yet we sit by and do nothing.
July 11th, 2009 at 7:20 am
TO: ALL
The Federal Reserve is a private corporation. Now on to my question:
Can anyone tell me who owns the Federal Reserve???
In addition to auditing the FED, someone needs to list, FOR PUBLIC RECORD, who owns the Federal Reserve. I dare anyone to wikipedia, google, etc. the Federal Reserve and find information as to whom owns this corporation?
Good luck!
Isn’t it crazy that no one knows who owns a legal entity that is destroying the UNITED STATES of AMERICA?
Excerpt from Wikipedia:
One of the first criticisms of the private nature of the Federal Reserve system was Charles August Lindbergh who criticized the problem of private banks working against the best interests of the citizens: “The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”[143]
July 11th, 2009 at 7:25 am
their is no argument!!!!!!!! the fed the bankstes our government and every one that works for them are useless, greedy ,overpaid ,lazy ,lying ,criminals, and thats just scratching the surface.
pitofdoom Reply:
July 11th, 2009 at 9:53 am
But caesar love’s and takes care of you!
July 11th, 2009 at 9:26 am
Their “independence” is the problem.
July 11th, 2009 at 9:52 am
The FED knows & exercises “independence” far better then “We the people”!!
July 11th, 2009 at 10:29 am
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
July 11th, 2009 at 10:29 am
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
FEDERAL RESERVE = CRIMINAL RESERVE.
July 11th, 2009 at 10:46 am
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
INDEPENDED CRIME UNIT. INDEPENDED CRIME UNIT.
July 11th, 2009 at 10:48 am
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
INDEPENDED CRIME SYNDICATE. INDEPENDED CRIME SYNDICATE.
July 11th, 2009 at 1:17 pm
We need to get back to a bartering system! I have started this with a local shop already. I help her and she provides me with some of the things I need. I intend to expand on this as I can. Think about it. It worked for nearly the whole short existence of our country, not to mention the thousands of years prior. The less money you feed into the system the better. Ever wonder how the Amish are fairing with this whole thing? What about their kids? Are they going to be forced to be vacinated? Are they going to have to pay carbon tax?? What are they doing right that we could be doing to detach ourselves from this controlling octopus that everyone calls government? Aren’t we capable of governing ourselves and providing for ourselves? Many would have to say no. But are we ready to try? I see this whole thing coming to fruition and I hold much reservation regarding the furture. World Governance. Wow. Is there any free place left on this planet?
July 11th, 2009 at 3:11 pm
Audit is a waste of time.Cut off the head of the beast completely. Expose the fraud for what it is, thas it and prosecute all the criminals including the paid politicians who take part in this crime.
July 11th, 2009 at 3:27 pm
When the head of the beast the(Federal Reserve) is removed. (CAUSE) You will cut off supply of blood flow to the rest of the body. It must DIE.
This is the one and only crucial act. Failure to do so, means THE END. Forget all the other sub issues or EFFECTS.
July 11th, 2009 at 6:19 pm
This is a MUST SEE VIDEO about the Federal Reserve. This guy is the REAL DEAL:
http://www.ourtimetostand.com/?page_id=292
July 12th, 2009 at 11:14 am
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