Support HR 1207!
It is time to show the Federal Reserve that the American people actually care about the decisions the Fed makes regarding the monetary policy of the United States. On February 26, 2009, Congressman Ron Paul from Texas introduced a bill, HR 1207 titled the "Federal Reserve Transparency Act of 2009, which will ensure that the Fed be audited and reported to the United States congress. So far, this bill has 21 cosponsors, including our very own Congressman Tom McClintock. This bill has bipartisan sponsorship, and is still under review by the committee. I encourage everyone to support this bill and contact Congressmen/women from not only your district but all over California to demand they support this bill to allow the American people to see what activities the Fed is involved in. Here is a link with information on this bill http://www.govtrack.us/congress/bill.xpd?bill=h111-1207. Also, here is a video of Congressman Ron Paul speaking about the issue in front of the house yesterday, 3/10/09. http://www.youtube.com/watch?v=fq_5H1XKVww
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Sorry Brother, but the Federal Reserve, according to my sources, is not a government agency. I have an informative video I can post later, but for now, go to http://www.nolanchart.com/article6123.html to get facts you may not know before asking for more "transparancy". I repeat, The Federal Reserve is not an arm of the government but actually, a PRIVATE BUSINESS!!
Yes, I am well aware that the Federal Reserve is private from the government. However, Congress gave them the powers they have by passing the Federal Reserve act of 1913, so the only way to make them no longer private is through the action of Congress by changing the rules in the bill that Congress created. That is why they are considered a private institution with small government oversight.
Should the banks not be owned by the government with complete transparancy? It seems to me that even with more transparancy, that corruption is inevitable when such tremendous profits are made by only the few? If the government were making more profit, could we not then fund projects like health care for everyone and thereby taking better care of "the people"?
I heard on the news this morning that the Federal Reserve is running low on money and they are going to ask the Feds for some money to keep them a-float. (today show)
The "Federal" Reserve recently gave their friends at the failing financial institutions well over 2 trillion dollars. That makes the Stimulus Package looks like foreplay. I don't thin that the "money changers" can run out of money as they are the ones that make & regulate it. If they actually got money from the government it would be a glorious scam of epic bu!!$h!t.
Birch, the last five words in your post said it all.
You know what, Loomis? We tend to agree more than we disagree. I think we got off to a wrong start... let me start over. I apologize for singling you out & calling you a name a while back. It was inappropriate & I should have handled it better. I'm sure I'll disagree with you here & there... but I'll try & stick to the topic & refrain from personal attacks.
Have a good day. Peace
Glenn, your post is somewhat confusing. Do you mean that the Federal Government is running low on money so they are asking the Federal Reserve for more money? If so, you are correct.
And Loomis, the 2 trillion dollars that you are talking about is something called the TALF program. Stands for term asset backed loan facilities. The FR has decided to lend over a trillion dollars to differnt financial instutitions. Best part is they cut the discount rate to 0.25%, which means these financial institutions will be making some handsome profits when they are only required to pay back a quart of a percent intrest rate!