Analysis: Fed under fire as public anger mounts
WASHINGTON – Suddenly the Federal Reserve is everybody's punching bag.
Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operations, others say.
WRONG. HR 1297 will only audit the Fed to see where all of OUR money has went, like that 24 TRILLION that Ben 'Shalom' Bernake had printed up and gave away to other banksters, then is refusing to say where that money went or who it went to.
Is some of that money being used to prop up the stock market to make it look all rosy, when the actual picture is mortifying?
Is some of that money being used to bankroll Pentagon/CIA black ops projects around the world?
Is some of that money helping some overseas banksters families get ready for a world-wide depression, which they did by using OUR money to buy commodities like gold and silver?
Did some of that money MADOFF to a certain SLC that is always the recipient of America's money, weapons, political backing and who's 'existential' enemies we are now fighting under the guise of the "War on Terror?"
Bottom line: That's OUR money and I sure as hell would like to know what the Fed is doing to and with OUR money.
Outcry when the private banking families of the Fed raise interest rates? BS. Most people will be tickled to see their savings account start paying a princely 0.25% percent instead of the Wall Street con game of 0.1%
The only ones you'll hear bitching are those same Wall Street banks that have been sucking the life out of our economy while 'borrowing' OUR money from the Fed at almost ZERO percent interest rate.
Money which they then use to buy some T-bills and get a nice 3.5% return. That kind of sweet deal doesn't take a degree in economics to figure out it's a guaranteed way to make easy money using OUR backs as collateral.
Fireworks seem likely at Senate confirmation hearings early next month on President Barack Obama's nomination of Bernanke to a second four-year term as chairman.
"It might have been the Fed's finest moment when it had to jump into the market," said David M. Jones, a former Fed economist and president of DMJ Advisors, a Denver-based consulting firm. "We still have to wait to see how effective the Fed is in its exit strategy and whether it can keep inflation in check. But this badgering by Congress, even if there is populist sentiment, is inappropriate."
Wrong bub, it's entirely appropriate since we've been robbed in broad daylight by a gang of Gucci wearing thugs who pose as friendly bankers interested only in our welfare.
The Fed is an illegal, motley collection of modern day pirates who are making the USA walk the gangplank while they take off with the loot.
Fireworks seem likely? Does this clown have a side job writing standup comedy?
The Fed's finest moment? What about all those moments when they stood around and watched their buds loot and pillage the mortgage backed security business?
Bernake was appointed by GW Bush and Obama has allowed Bernake to stay on and let the Fed continue its ransacking of America. The "Change" Obama was talking about is pocket change, because that's all we're going to have left after the private banking families of the Federal Reserve get thru stealing our present and future.