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Congressman Cook: “It’s Time to Audit the Federal Reserve”

By   /   March 18, 2014  /   1 Comment

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Capitol Update

Congressman Cook: “It’s Time to Audit the Federal Reserve” This week I signed on as a cosponsor of H.R. 24, the Federal Reserve Transparency Act. This bill requires a full audit of the Federal Reserve and all Federal Reserve banks.

Despite the Federal Reserve’s massive role in managing the economy, current law restricts the Government Accountability Office (GAO) from auditing the Federal Reserve’s deliberations, decisions, or actions on monetary policy. The Federal Reserve Transparency Act removes these restrictions and allows the GAO to examine the Fed’s books. This would put the central banking system under the same transparency rules as most other federal agencies.

After the most recent financial collapse, it’s more important than ever that we create full transparency in the Federal Reserve. The fact that the chief regulator of our financial system isn’t held to the same reporting standards as the rest of the country is unacceptable. I’m proud to be a cosponsor of this vital legislation to provide oversight for our central banking system. It’s time to audit the Federal Reserve.

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Blog Additions added by Branson Hunter

It is absolutely imperative that we get the American people to understand that the Fed is at the very heart of our economic problems.  It is a system of money that was created by the bankers and that operates for the benefit of the bankers.  The American people like to think that we have a “democratic system”, but there is nothing “democratic” about the Federal Reserve. >> Link

25 Fast Facts About The Federal Reserve <<

#9 If you can believe it, there have been 10 different economic recessions since 1950.  The Federal Reserve created the “dotcom bubble”, the Federal Reserve created the “housing bubble” and now it has created the largest bond bubble in the history of the planet.

Read more: http://www.trueactivist.com/25-fast-facts-about-the-federal-reserve/

#24 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”.  So exactly why is the Federal Reserve doing it?

#12 The Federal Reserve has created approximately 2.75 trillion dollars out of thin air and injected it into the financial system over the past five years.  This has allowed the stock market to soar to unprecedented heights, but it has also caused our financial system to become extremely unstable.

#16 The Federal Reserve has argued vehemently in federal court that it is “not an agency” of the federal government and therefore not subject to the Freedom of Information Act.

#7 It was not an accident that a permanent income tax was also introduced the same year when the Federal Reserve system was established.  The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.

Read more: http://www.trueactivist.com/25-fast-facts-about-the-federal-reserve/

#20 The Federal Reserve is supposed to “regulate” the big banks, but it has done nothing to stop a 441 trillion dollar interest rate derivatives bubble from inflating which could absolutely devastate our entire financial system.
#21 The Federal Reserve was designed to be a perpetual debt machine.  The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape.  Since the Federal Reserve was established nearly 100 years ago, the U.S. national debt has gotten more than 5000 times larger.

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About the author

Branson Hunter

(This story was posted by Cactus Thorn contributor Branson Hunter)

"The ends do not justify the means." If you use illegal mean to accomplish a legal and even desirable result, the good result does not make the bad means you used justifiable.

1 Comment

  1. Dan OBrien Dan OBrien says:

    Talks like a Tea Party Member, votes like a New York Liberal.

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