Federal Reserve System….
Posted by Pete | Posted in News | Posted on 12-02-2011
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Can an un-educated person like myself read and understand how something like the Federal Reserve System operates, the how’s and whys of the nations money and probably world money, if the truth be known? No, of course not… The only thing I can understand about it is the Federal Reserve is subject to “limited” General Accounting Office audits…It says, “The Federal Reserve System undergoes limited audits by the GAO and do not cover most of the Feds monetary policy action or decisions, including discount window lending, open market operations and any other transactions made under the direction of the Federal Open Market Committee, nor may the GAO audit dealings with foreign governments and other central banks….Now, I really ain’t to smart cause writing this little piece is really a waste of my time considering the good it will do, but…..everybody needs a watcher…why are these folks different?…. Maybe because they are “bankers” or “money people” who are above the law and above repoach? ….Well, I repeat, everybody needs a watcher and probably these “money” people most of all…..Who set this system up anyway?…..Bankers?….For sure…
Bankers set up our nation. It was Alexander Hamilton, the most essential of the founding fathers of the United States of America, who put our nation on a firm and lasting foundation by establishing a monetary and banking system that has become the model and the envy of the world. Our banking system is the conservative element that is the foundation of our democracy and the essentiality of its strength if we can just keep it that way and keep out the money grubbers, that is, those who wish to get rich a little too quickly causing problems for the entire system. The system does need to be watched.
And the only people who can watch it are the people themselves trough their elected representatives. Constitutionally, the Senate of the United States is given the authority to establish, regulate, and monitor the banking system. In the last couple of years, the Senate has failed in its oversight responsibility because too many Senators on the banking committee became too involved in profiting from the system, but it is the people’s responsibility to yank these errant Senators out by the roots and replace them with those who will obey the Constitution. As Charlie Brown use to say, “We saw the enemy, and he is us.”