Thursday, November 12, 2009
Cry, The Bankrupted Country!
A movement is afoot in the US to force an independent audit of the Federal Reserve System - along with provisions for yearly audits by the General Accounting Office. Dr. Ron Paul has authored a resolution (H.R. 1207) that would make the Fed tell "Us the People", among other things, just WHO got the $$$trillions$$$ in "bailout" money. How much. For what collateral. And why....
Already, the plutocrats are starting to howl. "This will compromise our independence, blah, blah, blah...." they say. But what they're really saying is that public oversight and accountability is anathema to them. What can we deduce from this...................?
Commodities prices in the US have risen appreciably over the past year; and FY2010 will see hefty tax increases loaded up on the sensible members of society - those who manage their finances prudently - in order to pay for the spending orgy. But the plutocrats know what's best for us.... One suspects that when Jesus drove the money changers from the Temple, they fled to the world's central banks.
In 2007, less than a year before Iceland's great meltdown, one of the Fed's Governors, Frederic Mishkin, co-authored a gem of a report called "Financial Stability in Iceland". The report maintained that Iceland's economic fundamentals were "strong". The report was commissioned by the Icelandic Chamber of Commerce in response to negative coverage of the Icelandic economy in various media outlets. In the same manner, and by the same people, we're now being told that the world economy is "recovering"!
As irrefutable proof of just how much poorer Iceland has today become, even McDonald's has folded its tent and crept away. It would be very interesting to know just how much of our tax monies have been siphoned off to prop up Iceland's shakey economics. This to create an impression of solidity before the international banker's house of paper finally collapses in a heap. And fail it will. Of course, the bankers have no intention of releasing their stranglehold on the world's systems. So, expect them to try to stage manage the collapse in such a way that their control will, if anything, increase.
Americans here might want to contact their elected representatives with their concerns about the Fed. Predictably, H.R. 1207 has been attacked by democrats on the House Financial Services Committee; to the point that Dr. Paul says it was "gutted". The bankers have lots of friends in Congress.