Can You believe This
Jan 7th, 2009 by Randy Toman
What you are about to read is quoted right from “The New American” Jan. 5, 2009 issue. Pages 12-15 and you can visit their web site http://www.thenewamerican.com/
If you have been reading my postings I have been attempting to arouse some interest in what the “Federal Reserve System” is doing and how corrupt it really is.
http://www.lehighvalleyconservative.com/if-anyone-has-any-questions/
http://www.lehighvalleyconservative.com/we-are-surely-doomed/
http://www.lehighvalleyconservative.com/if-you-happen-to-wake-up-do-something/
http://www.lehighvalleyconservative.com/that-change-is-not-going-to-help/
And if you have been reading my postings it must be evident to you of my concerns over this issue. You will also notice I have attempted to tie this mess back to scripture and some Biblical wisdom with a moral compass for guidance’s.
These quoted paragraphs have some length to them, so my hope is that you will take the time and effort to read through this information.
The “Bailout Mania” is the title to the article;
Section—Congress out of the loop. (Pages 12&13)
“The recent revelations concerning the usurpations of congressional power by the Fed and Treasury validate an important op-ed observation made in 1999 by economist Robert Reich, who had served as secretary of labor in the Clinton administration from 1993-1997. “The dirty little secret is that both houses of Congress have become increasingly irrelevant,” Reich opined in a January 7,1999 piece for USA Today. “In case you hadn’t noticed,” Reich continued, “America’s domestic policy is now being run by Alan Greenspan and the Federal Reserve Board. Their decisions about interest rates are determining how many of us have jobs and how many of us get a raise.”
Reich who is now an adviser to President- elect O’bama went on:
“ Congress is out of this loop. Every so often, some Senators or House Members politely ask Greenspan to visit and talk about the economy. He obliges by riding up to the hill and muttering convoluted sentences that no two people interpret in quite the same way. Then he goes back down to the Fed and runs the country.
America’s foreign policy, mean-while, is now being run by the International Monetary Fund (IMF), with some coaching from the Treasury Department.”
Reich’s description of things nearly a decade ago certainly describes the situation in Washington today. While Congress voted on $700 billion for bailouts, the Fed is spinning out more than 10 times that amount out of thin air. If Congress, the press, and the publican be kept preoccupied arguing over a few billions, while the Fed is making decisions on and taking action on trillions, then Congress has indeed become irrelevant. And so has the American public—except for when it comes time to pay the tab.
(Page 14)
“A few members of Congress may be beginning to get the picture: they are realizing that there is something terribly wrong (they should they are right in the middle of it)—both in principle and in practice—with the process that allows government agents, whether elected or appointed, to commandeer very nearly the total wealth of the nation and then to refuse to provide information on those activities to the people who are paying the bills. “Whether it’s lending or spending, it’s tax dollars that are going out the window and end up holding collateral we don’t know anything about.” Says Congressman Scott Garrett (R-N.J.), who serves on the House Financial Services Committee.
“The time has come that we consider what sort of limitations we should be placing on the Fed so that authority returns to elected officials as opposed to appointed ones.” However, merely placing limitations on the Fed (and the Treasury) will not do what needs to be done. As usual, Dr. Ron Paul (R-Texas) is one of the few members of Congress who understands the disease and is willing to prescribe the tough medicine needed. He has repeatedly offered legislation to abolish the Fed.”
In this article called “Bernanke’s Money Maneuvers” page 15 of the same issue Jan. 5, 2009 we have this.
“In 2002, not long after he was appointed to the Federal Reserve’s Board of Governors, Bernanke, speaking on the occasion of Friedman’s 90th birthday, made a startling admission regarding the Federal Reserve’s role in creating the worst economic crisis of the last century:
“Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna (Schwarz): Regarding the Great Depression. You’re right, we (i.e., the Fed) did it. We’re very sorry. But thanks to you, we won’t do it again.”
Can you believe this? If one of us did that where do you think we would be? This is sick, where is the Statesman that is supposed to be leading us? When the folks that do not have good table manners find out about this what do you think they are going to do in the streets? Maybe in the Boston Harbor but instead of tea it might be politicians. You guys had better smarten up and soon (like today) because you have no idea how much fire you are playing with, when the people find out the country is going down the tubes you might have a serious problem.