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Author Topic: Bernanke Fears Ron Paul’s Audit...follow the money...  (Read 1766 times)
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WhiskeyGirl
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« on: November 30, 2009, 11:57:32 AM »

"Ben Bernanke Fears Ron Paul’s Audit Above All Else"
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Some of Bernanke’s thoughts are actually very disturbing, and confirm more than ever why the Fed needs to be audited. Let’s look at several comments he made in the column.

In reference to auditing the Fed and taking away its regulatory powers, Bernanke said this:

“These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States.”

What Bernanke subtly attempts to do here is take the issue out of the authority of the United States in the minds of the readers and place it in the authority of “global consensus.” Who cares about global consensus, and what he also calls the “appropriate role of central banks?”

read more here - http://www.americanbankingnews.com/2009/11/30/ben-bernanke-fears-ron-pauls-audit-above-all-else/

Why would anyone care about global consensus?


How did our 'central bank' get so intertwined with other global central banks?

Who's on our side?  Who's on the side of millions  on Main Street?

Who at the Federal Reserve makes money and how much profit on interest charged to taxpayers?  Americans?

Who making money on all the capital given or advanced to global wealthy businesses and people?

Who's on our side?  The American side?  The side of the little people on Main Street?

Who really owns the Federal Reserve?
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WhiskeyGirl
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« Reply #1 on: November 30, 2009, 12:12:05 PM »

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Federal Reserve Faces Possible Comprehensive Audit

Source: by Sarah A. Binder, The Brookings Institute
Posted on: 29th November 2009

An interesting narrative has emerged about Rep. Ron Paul’s (R-Texas) improbable victory during recent proceedings of the House Financial Services Committee.

After nearly 30 years of advocating tough reform of the Federal Reserve, Rep. Paul’s amendment to subject the Federal Reserve to a comprehensive audit was adopted with the support of all of the panel’s Republicans and over half of the panel’s Democratic members.

…a letter in support of Rep. Paul’s amendment from labor leaders and progressive economists was circulated the morning of the vote, and was said to be instrumental in getting Democrats to break ranks with their committee chair, Rep. Barney Frank (D-Mass.).

Given congressional efforts to reform the financial regulatory structure—including the powers of the Federal Reserve—a better understanding of recent House developments is in order. Was this an ends-against-the-middle coalition?

Read more here – http://thegovmonitor.com/world_news/united_states/federal-reserve-faces-possible-comprehensive-audit-17100.html
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It doesn't do any good to hate anyone,
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WhiskeyGirl
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« Reply #2 on: November 30, 2009, 12:19:45 PM »

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NY Fed to Conduct Reverse Repo Operations Over Coming Weeks

NEW YORK -- The Federal Reserve Bank of New York said Monday it will implement "small scale" reverse repurchase agreement transactions "over coming weeks," but it said the operations have no implication for monetary policy.

"These forthcoming operations are being conducted to ensure operational readiness at the Federal Reserve, the triparty repo clearing banks, and the primary dealers," the bank said in a statement. "The operations have been designed to have no material impact on the availability of reserves or on market rates."

Quote
...The reverse repo transactions will ultimately help the Fed unwind at least a part of the massive amount of stimulus the central bank has provided financial markets over the last two years.

What exactly does this mean?  A reverse repo transaction?  Hmmm...

Did they know what they were doing the first time around?

What banks?  Who are the players?  Those being reverse repo'd?

read more here - http://online.wsj.com/article/SB125959916774569839.html

More good news form the Fed?  How much will this cost taxpayers?
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It doesn't do any good to hate anyone,
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WhiskeyGirl
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« Reply #3 on: December 01, 2009, 04:40:50 PM »

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Think about it: In the largest bailout in history, neither the public nor members of Congress can even make an intelligent estimate of how much money the Fed has actually spent, or exactly how it is being spent, or exactly who are the major beneficiaries of much of the spending. We know taxpayers, consumers and jobless workers are not the beneficiaries, but we don’t even remotely know the full story of exactly which institutions benefit from exactly which programs.

http://thehill.com/blogs/pundits-blog/economy-a-budget/69935-ron-paul-goes-mainstream-ben-bernanke-goes-berserk

Wow.  Will someone declare war on the US to cause a diversion?  I think there was an old movie like that.
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #4 on: December 01, 2009, 04:44:26 PM »

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Our problems are not Democratic, Republican, liberal, conservative or progressive. They are about virtue, honesty, visibility and accountability in government and businesses.

Myron McNown
Fairway

read the rest here  http://blogs.kansascity.com/unfettered_letters/2009/11/end-federal-reserve.html
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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