President And Congress Grovel Before The Fed
Bloomberg News (Monday,
February 9, 2009
"The stimulus package the
raise the government`s commitment to solving the
financial crisis to $9.7 trillion, enough to pay off
more than 90 percent of the nation`s home mortgages.
"The Federal Reserve, Treasury Department and Federal Deposit Insurance
Corporation have lent or spent almost $3 trillion over
the past two years and pledged up to $5.7 trillion more.
The Senate is to vote this week on an economic-stimulus
measure of at least $780 billion. It would need to be
reconciled with an $819 billion plan the House approved
"Only the stimulus bill to be approved this week, the $700 billion
Troubled Asset Relief Program passed four months ago and
$168 billion in tax cuts and rebates enacted in 2008
have been voted on by lawmakers. The remaining $8
trillion is in lending programs and guarantees, almost
all under the Fed and FDIC. RECIPIENTS` NAMES HAVE NOT
BEEN DISCLOSED. [Emphasis added]
"`We`ve seen money go out the back door of this government unlike any
time in the history of our country,` Senator Byron
Dorgan, a North Dakota Democrat, said on the Senate
floor Feb. 3. `Nobody knows what went out of the Federal
Reserve Board, to whom and for what purpose. How much
from the FDIC? How much from TARP? When? Why?`"
Senator Dorgan is exactly right. No
one oversees the Fed. The Fed is held accountable to
But Senator Dorgan (as with
everyone else in Congress) has no one to blame but
himself. Ever since the Marxist,
E. Mandell House, convinced President Woodrow Wilson
to create the Federal Reserve in 1913, the Congress of
virtually nothing to do with the way our fiscal policies
are managed. The Fed (which is not even a government
agency, but rather a private corporation consisting of
mostly foreign bankers) dictates
The reality of just how our civil
magistrates have come to grovel before the Fed was
revealed in a column written recently by Cal Thomas.
was not trying to castigate President Bush in his
column. Just the opposite: his column was full of praise
and adulation for the former President. In recounting
his last interview with President George W. Bush,
the almost limitless power that the Fed wields over even
the President of the
Here is what
defends himself against a charge by a member of the
Republican National Committee that he has behaved like a
`socialist` because of his massive bailout spending. He
he still believes in less government spending, but when
Henry Paulson, secretary of the U.S. Treasury, and
Ben Bernanke, chairman of the Federal Reserve, tell
him that if he doesn`t act, the result will be worse
that the Great Depression, `you can sit there and say to
yourself, "well, I`m going to stick to principle and
hope for the best, or I`m going to take the actions
necessary to prevent the worst."`"
In other words, when the Fed says,
"Jump!" the President asks, "How high?" And, with the exception of
Congressman Ron Paul of
others), the same is true for members of the House and
In other words, ladies and
run by a private banking cartel, the majority of whom
are not even citizens of these
Ever since the Fed was created in
subjected to recession after recession, not to mention
one Great Depression. Some are even predicting that the
entering a second Great Depression. Please understand
this: the Federal Reserve has manipulated every bit of
this financial crisis for the express purpose of
enriching the international bankers on the backs (and
bankruptcies) of the American taxpayers.
And what does our illustrious
Congress do? They continue to give billions and even
trillions of taxpayer dollars to the very same group of
gangsters who created and perpetuate this financial
fraud. And, as with Congress, Presidents from both major
parties likewise promote and defend this chicanery.
Constitution, in Article. I. Section. 8. Paragraph. 5.,
clearly gives Congress the authority
"To coin Money,
regulate the Value thereof, and of foreign Coin, and fix
the Standard of Weights and Measures."
This constitutional requirement
makes two obvious demands: 1) only the elected Congress,
not some private foreign (or even domestic) banking
interest, has the power to make monetary policy, 2)
must be hard currency, i.e. gold and silver. Paper
money–known as the Federal Reserve Notes–is not even
legal tender under the U.S. Constitution.
In truth, the Federal Reserve Act
of 1913 is itself unconstitutional. In simple terms, the
Act did not amend or expunge Article. I. Section. 8.
Paragraph. 5. of the Constitution; it merely ignored it.
(And Congresses and Presidents have been ignoring the
Constitution ever since.)
In fact, Article. I. Section. 10.
Paragraph 1. of the U.S. Constitution specifically
states, "No State
shall . . . coin Money; emit Bills of Credit; make any
Thing but gold and silver Coin a Tender in Payment of
Can anyone not see that the Federal
Reserve is an illegitimate system? I will even go so far
as to say that the Federal Reserve should be regarded as
a corrupt, criminal system! If I were President, not
only would I do everything in my power to oppose any and
all financial bailouts to these international banksters,
I would instruct the Justice Department to pursue
criminal charges of fraud, corruption, manipulation, and
outright thievery against the Fed.
Instead of padding their fat assets
in a million-dollar penthouse, they should be serving
most of the rest of their lives in the Big House.
In the meantime, Congressman Ron
Paul has again introduced a bill in the House of
Representatives to terminate the Federal Reserve. It is
H.R. 833: To abolish the Board of Governors of the
Federal Reserve System and the Federal reserve banks.
The Bill was introduced on February 3 and, to date,
has no cosponsors. That`s right. No cosponsors.
Until the American people demand
that their elected members of Congress live up to their
duties and responsibilities under the Constitution, they
will continue to have their pockets picked clean by
these corrupt banksters in New York City (and London)
and their contemptible facilitators in Washington, D.C.
Passing Dr. Paul`s bill would be a
great place to start.