“When the Fed talks about independence, what they’re really talking about is secrecy. What the GAO cannot audit is monetary policy. It would not be able to look at agreements and operations with foreign central banks, and governments, and other banks, transactions made under the direction of the FOMC [Federal Open Market Committee], and discussions or communications between the board and the Federal Reserve system relating to all those items. And why this is important is because of what happened 4 years ago. It’s estimated that the amount of money that went in and out of the Fed overseas is $15 trillion. How did we get into this situation where Congress has nothing to say about bailing out all these banks?”
John Maynard Keynes once stated that “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” Such a situation is exactly what faces this country today, as the Federal Reserve seems hell-bent on destroying what little purchasing power remains of the U.S. Dollar.
(PolicyMic.com) – During the 2008 Presidential campaign, I (along with many others) tried to argue that there was no legitimate difference between the grumpiest old man John McCain and the constitutional law professor turned Hope and Change motivator Barack Obama. It was clear that neither candidate was going to rollback the war profiteering military industrial complex. McCain’s hawkish attitude towards oil rich foreign lands, including his infamous “Bomb, Bomb, Iran” ditty, and Obama’s foreign policy adviser of choice, Zbigniew Brzezinski, who founded Al-Qaeda (at that point as a foil against the Soviets in Afghanistan) and authored The Grand Chessboard were tell-tale signs that the imperialist foreign policy would continue unabridged. It was also clear that neither candidate intended on curtailing the runaway casino financial system that benefits the 0.1% at the expense of the taxpayer. Both McCain and Obama stressed the urgency of the bailouts that sent trillions to Wall Street — who just happened to be the main campaign contributors for both candidates.
Today, exposing the false Left-Right paradigm is much easier. Goldman Sachs (R) vs. Goldman Sachs (D). Romneycare or Obamacare? Neither candidate is offering peace. More wars. More big government. The same old song and dance.