Since the creation of the Federal Reserve in 1913, the dollar has lost over 97 percent of its purchasing power, the US economy has been subjected to a series of painful Federal Reserve-created recessions and depressions, and government has grown to dangerous levels thanks to the Fed's policy of monetizing the debt. Yet the Federal Reserve still operates under a congressionally-created shroud of secrecy.
No wonder almost 75 percent of the American public supports legislation to audit the Federal Reserve.
The new Senate leadership has pledged to finally hold a vote on the audit bill this year, but, despite overwhelming public support, passage of this legislation is by no means assured.
The reason it may be difficult to pass this bill is that the 25 percent of Americans who oppose it represent some of the most powerful interests in American politics. These interests are working behind the scenes to kill the bill or replace it with a meaningless "compromise." This "compromise" may provide limited transparency, but it would still keep the American people from learning the full truth about the Fed's conduct of monetary policy.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
1 comment:
Let me explain something about the Fed. First of all it is not a federal agency, it's a collection of privately held banking firms. 'The Fed' in turn lends it's fake money 'bearing interest' to it's clientele., the U.S. gov't or others. Every dollar that is in existence since 1913 has come from this 'Central Bank'. Now think about that for a moment... If every dollar in existence has come from the Central Bank and it lends this money 'bearing interest' where does the interest come from? Now think about that for a moment... It will also come from the Central Bank/Fed 'at interest'. Perhaps now you understand that it is a scheme to defraud and the interest will NEVER be paid. Just more debt to these POS bankers.
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