Sunday, Nov 23, 2008
Protesters across 38 cities in the US have called for the end of the Federal Reserve, which they blame for the current economic crisis.
Trey Houchens, an organizer for the group, ‘Restore the Republic’, was demonstrating in front of the Federal Reserve building in Washington and told PressTV that the Federal Reserve “is an institution that has been stealing our prosperity.”
Protestors said that if the Federal Reserve continues to spend and regulate credit at the present rate, the American economy will collapse.
Another protestor told PressTV’s Jihan Hafiz that Fed chief, Ben Bernanke, “held a gun to our head, asking for the bailout… anything that he says will make the market go down. Its just outright theft.”
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Bernanke, along with treasury secretary, Hank Paulson, was the key architect behind the $700 billion bailout bill that was passed in October. Many criticized the controversial bill for handing US taxpayer money back to the same financial institutions that caused the current financial turmoil in the first place.
There were also demands that control of monetary policy be returned to Congress, and not left in the hands of an unelected and ‘unconstitutional’ private organization.
“We have to wrestle that power back from those private bankers, give it back to its rightful owner, the government, the people,” said Gary Franchi, National Director of ‘Restore the Republic’.
Looking forward, some protestors cast doubt on President-elect Obama’s promise of change, pointing out his close connection to ‘corporate America.’
This article was posted: Sunday, November 23, 2008 at 5:52 am