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Shut Down the Federal Reserve?

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Are the fraud allegations from the article urging to Shut Down the Federal Reserve accurate? Why is there so little education about the Federal Reserve in the media, schools and universities?

Why is the Government Accountability Office not allowed a full audit of the Federal Reserve? The position that something is very wrong with the Federal Reserve is even supported by some courageous Congressmen from both parties. If their accusations are unfounded, then why aren't the democratically elected Congressmen allowed to audit the Federal Reserve's alleged private ownership and selfish activities? The US Constitution in Article I, Section 8, Paragraph 5, states that Congress has the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;".

Why is the Federal Reserve so secretive?

http://thomaspainereturns.net/posts/sdfr.html

"The band aids will not help the economic crisis. There is a systemic problem. The Federal Reserve and all the central banks in the world that are designed on its model are defrauding the people of the world.

There is no rational reason why the U.S. Congress cannot print its own currency. The Congress was intimidated, bribed and blackmailed into creating and maintaining the Federal Reserve Bank. The Federal Reserve was awarded a contract to manage the currency in America. The cost of that contract to the U.S. has been $10 trillion in national debt.

To try to cover for the Federal Reserve's greedy fraud, many countries are being forced to pay into the Federal Reserve coffers to keep the world economy afloat. One of the ways they are being forced to pay is through devaluation of their currencies with respect to the U.S. dollar, which is a way of building up America at the expense of others in the world.

All of the band-aid measures will fail. The problem is the Federal Reserve, which concept is founded upon debt-based currency and fraud. It must be closed down or it will continue to suck the resources of the U.S. with its currency management contract. The American government could do the Federal Reserve's job for virtually nothing, and save the U.S. taxpayers between $200 and $900 billion each year in interest off a debt that will never be paid off."

http://en.wikipedia.org/wiki/Louis_McFadden

"McFadden is also remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States. On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives[2] , in which he accused the Federal Reserve of deliberately causing the Great Depression."

http://en.wikipedia.org/wiki/Huey_Long

"Long was a staunch opponent of the Federal Reserve Bank. Together with a group of Congressmen and Senators, Long believed the Federal Reserve's policies to be the true cause of the Great Depression. Long made speeches denouncing the large banking houses of Morgan and Rockefeller centered in New York which owned stock in the Federal Reserve System. He believed that they controlled the monetary system to their own benefit, instead of the general public's benefit."

http://en.wikipedia.org/wiki/Rand_Paul

"Paul opposes the Federal Reserve Act of 1913 and the Federal Reserve's control of the nations money supply and interest rates. He wants to allow the free market to regulate interest rates, and supports congresses constitutional role of controlling the money supply. Paul endorses H.R. 1207, the Federal Reserve Transparency Act, a bill introduced by Congressman Ron Paul mandating an audit of the Federal Reserve. Although Paul would abolish the Federal Reserve, he supports transparency and accountability of the semi-private institution. Additionally, Paul opposes inflation and supports "restoring the value of the dollar that has devalued by approximately 95% since the Federal Reserve's inception in 1913"."

http://en.wikipedia.org/wiki/Alan_Grayson

"Grayson is a co-sponsor of the Federal Reserve Transparency Act of 2009, which would provide addition provisions to audit the Federal Reserve, including removing several key exemptions."

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If their accusations are unfounded, then why aren't the democratically elected Congressmen allowed to audit the Federal Reserve's alleged private ownership and selfish activities?

They are allowed. The choose not to. (I believe Paul's initiative to audit the Fed has been voted down in the House, precisely by the democratically elected congressmen. And it's probably for the better: nothing good can come out of the Fed being taken out of the hands of technocrats, and handed over to politicians.

The Fed needs to be shut down (in a coherent, step-by-step process that also shuts down most other federal agencies), by a new kind of leadership. That won't happen, as long as most people in the US support statism.

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McFadden is also remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States.

It is generally impractical to blame the failure of Americans onto foreign nations. Yes, the statist ideas that drove its creation may have, originally, come from 19th century German "philosophers" (the root of all communism, socialism, etc.) but it was AMERICANS who destroyed the American economy and innovation engine. It was Americans who shot their own country in the foot, on purpose. Never forget it, and attack the traitors, not people from over the border.

Sure, communists may have influenced directors in Hollywood, prompting Miss Rand to write her famous pamphlet. It does NOT mean that the American directors who acted on such ideas were not responsible.

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If their accusations are unfounded, then why aren't the democratically elected Congressmen allowed to audit the Federal Reserve's alleged private ownership and selfish activities?

They are allowed. The choose not to. (I believe Paul's initiative to audit the Fed has been voted down in the House, precisely by the democratically elected congressmen. And it's probably for the better: nothing good can come out of the Fed being taken out of the hands of technocrats, and handed over to politicians.

The Fed needs to be shut down (in a coherent, step-by-step process that also shuts down most other federal agencies), by a new kind of leadership. That won't happen, as long as most people in the US support statism.

As a whole the Congress is allowed to legislate an audit of the Federal Reserve, but what I was referring to were single members like Ron Paul. Ron Paul is on the financial service committee and even he is not allowed to check their books! I agree with you to shut it down instead of giving it to politicians. Sadly, I also agree with you about the statist majority in America(as well as in every other nation on earth at the present time). Although the ideas of individualism do get a bit more popular the FED's probably not gonna be shut down like it should be, but will self-destruct.

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McFadden is also remembered for his criticism of the Federal Reserve, which he claimed was created and operated by European banking interests who conspired to economically control the United States.

It is generally impractical to blame the failure of Americans onto foreign nations. Yes, the statist ideas that drove its creation may have, originally, come from 19th century German "philosophers" (the root of all communism, socialism, etc.) but it was AMERICANS who destroyed the American economy and innovation engine. It was Americans who shot their own country in the foot, on purpose. Never forget it, and attack the traitors, not people from over the border.

Sure, communists may have influenced directors in Hollywood, prompting Miss Rand to write her famous pamphlet. It does NOT mean that the American directors who acted on such ideas were not responsible.

Agree with you on focusing on attacking the traitors in America. Most Americans are indeed guilty. Sadly, us innocents get punished along with the Collectivists.

Yes, the german "philosophers" did their "best" to bring the tyranny of the middle ages back. All hail to the king..uh..socialist dictator!

But I do think you understood McFadden wrong. He didn't blame it on nations, he was talking about secretive European Banking Families like the Rothschilds. Of course, that is also unpopular, maybe even more unpopular that blaming it on foreign nations, as stuff like this gets labeled as an insane conspiracy theory.

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But I do think you understood McFadden wrong. He didn't blame it on nations, he was talking about secretive European Banking Families like the Rothschilds. Of course, that is also unpopular, maybe even more unpopular that blaming it on foreign nations, as stuff like this gets labeled as an insane conspiracy theory.

It is an insane conspiracy theory.

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Indeed. Secretive investors are always blamed whenever dodgy things happen in markets (usually because of government actions in the past). The current scapegoats are hedge funds and bank prop desks. It's been a while, actually. We should see another burst soon.

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But I do think you understood McFadden wrong. He didn't blame it on nations, he was talking about secretive European Banking Families like the Rothschilds. Of course, that is also unpopular, maybe even more unpopular that blaming it on foreign nations, as stuff like this gets labeled as an insane conspiracy theory.

It is an insane conspiracy theory.

Did YOU ever audit the Federal Reserve and other Central Banks?

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Indeed. Secretive investors are always blamed whenever dodgy things happen in markets (usually because of government actions in the past). The current scapegoats are hedge funds and bank prop desks. It's been a while, actually. We should see another burst soon.

You are misrepresenting what I said. Did I ever say anything about investors, about hedge funds?

I am talking about the central banks and specifically about the FED. They have a government monopoly to create all the money they want and be SECRETIVE about it.

Hey guys, if you like central bankers so much, then why not give me the government monopoly to create fiat money and force everybody through government power to take it? And at the same time I want secrecy about my activities like the FED has.

So can I have that too? ;)

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Did YOU ever audit the Federal Reserve and other Central Banks?

If the answer is no, do you think you have proven the conspiracy theory, or do you think the burden of proof for this assertion is on you and McFadden?

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