Shut Down the Federal Reserve?

Discussion in 'Money, Investing & Precious Metals' started by Kwasar, Jun 25, 2010.

  1. Kwasar

    Kwasar New Member

    1
    0
    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 fraudulent activities and private ownership? 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?


    Shut Down the Federal Reserve
    "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."



    Louis Thomas McFadden - Wikipedia, the free encyclopedia
    "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."

    Huey Long - Wikipedia, the free encyclopedia
    "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."

    Rand Paul - Wikipedia, the free encyclopedia
    "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"."

    Alan Grayson - Wikipedia, the free encyclopedia
    "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."
     
    Last edited by a moderator: Jun 25, 2010
  2. UncleJoe

    UncleJoe Well-Known Member

    6,764
    108
    The Federal Reserve, a privately owned banking cartel, is the very root of most of our financial problems. It needs to be shut down, not audited.
     

  3. alanz

    alanz Active Member

    38
    0
    I wouldn't have a problem with Congress printing currency as long as they didn't make it the only legal currency allowed. If it were, they would fire up the printing presses just as much or more than the Fed.

    People ought to be able to buy, sell, and pay their employees with whatever they want. The solution is competing currencies.
     
  4. TechAdmin

    TechAdmin Administrator Staff Member

    2,244
    47
    The issue with that is that nothing ensures the value of the competing currencies, there for the interactions and subsequent purchases would be to difficult for our modern age. We need a primary currency, the issue is we need to be more reliant on other forms of payment, barter and the like, when we are presented with the option.