Group items tagged

independence, and it wouldn't put Congress in charge of monetary policy. An audit is simply an examination of records or financial accounts to check their accuracy. We must not equate "independence" with secrecy. No matter how intelligent or well-intentioned the Fed chairman and his staff may be, it isn't appropriate to give a handful of people the power to lend an unlimited supply of money to anyone it wants without sufficient oversight. Absolute power corrupts absolutely. The American people have a right to know what is being done with their hard-earned taxpayer dollars. This money does not belong to the Fed; it belongs to the American people. ad_icon BERNARD SANDERS U.S. Senator (I-Vt.) Washington The writer is the sponsor of the Federal Reserve Sunshine Act. Tuesday, July 28, 2009 Regarding the July 24 editorial "Focus on the Fed": What a sad day for a newspaper with a storied reputation for exposing waste, fraud and abuse in government, to oppose the Federal Reserve Sunshine Act, legislation that would simply increase transparency at the Federal Reserve. The Fed has expanded its balance sheet by more than $1 trillion in taxpayer dollars in response to the financial crisis. Who received this money? Is it being used primarily to help ordinary Americans or just the wealthy and well-connected? What conflicts of interest exist between members of the Fed and Wall Street bankers? This is all information that the American people deserve to know. The Fed isn't answering these questions. That is why an independent audit of the Fed is gaining such bipartisan support. This legislation wouldn't undermine the Fed's

More disruptions for the US dollar and UK Pound, international financial system too weak, GDP numbers are phony, more devaluation and default, Globalization a disaster, Purging the system still a good idea, Abolish the Fed, Gold and Silver your only safe haven, What can the market possibly do under such stress?.... As we enter August we are getting closer a

Amid the worst financial crisis since the Great Depression, few issues have sparked more outrage than executives on Wall Street taking home big bucks, even as their companies took risks that sent the country plunging into recession. Just this week, a report from New York Attorney General Andrew Cuomo revealed that the first nine banks to receive government bailout funds dished out nearly $33 billion in bonuses last year, with 4,800 employees taking home bonuses over $1 million.

In 1954, the Bilderberg Group was founded in the Netherlands, which was a secretive meeting held once a year, drawing roughly 130 of the political-financial-military-academic-media elites from North America and Western Europe as "an informal network of influential people who could consult each other privately and confidentially."[1] Regular participants include the CEOs or Chairman of some of the largest corporations in the world, oil companies such as Royal Dutch Shell, British Petroleum, and Total SA, as well as various European monarchs, international bankers such as David Rockefeller, major politicians, presidents, prime ministers, and central bankers of the world.[2]