Thursday, January 14, 2016

Congress goes along with the out-of-control, private government of the Fed—unaccountable to the national legislature.



The wealth of a society comes overwhelmingly from one single source--the ability of enterprising people to look to the future and see the opportunity to make profits (an evil concept to socialists). When they can, they get busy and the productive cycle starts that brings employment and goods and services. When they can't, they register with the government to be sure to get their share of the pie, what little there is...

And that my friends is where we are now in 7 years of Democratic control. 

Question ,Wouldn't you not want to know how much money you had to spend to pay your Bills before you bought into something new ?

"Audit the Fed" Bill Fails In The Senate



When it comes to the Fed, Congress is mired in hypocrisy. The anti-regulation, de-regulation crowd on Capitol Hill shuts its mouth when it comes to the most powerful regulators of all – you and the Federal Reserve. Meanwhile, Congress goes along with the out-of-control, private government of the Fed—unaccountable to the national legislature. Moreover, your massive monetary injections scarcely led to any jobs on the ground, other than stock and bond processors.
                                                                                                         
From the post: Ralph Nader Destroys the Federal Reserve in Open Letter – Calls it ...

Rand Paul’s signature “Audit the Fed” legislation failed to garner the 60 votes needed in the Senate to move the measure forward. Of course, this is merely the latest in a never-ending series of banker victories, and a truly devastating blow against liberty, free markets, transparency and any hope for government by the people and for the people. Ensuring that light is never shined on the Fed’s shady, corrupt and unaccountable bailout activities has always been a key goal of the American oligarchy, and they succeeded once again.

Kudos to Rand Paul for trying, and respect to Democrat Bernie Sanders for voting in favor. Elizabeth Warren voting against is inexplicable and indefensible.

More from MarketWatch:

WASHINGTON (MarketWatch) — A bill that would have allowed Congress to order reviews of Federal Reserve interest-rate policy decisions failed a procedural test in the Senate on Tuesday as supporters failed to come up with the 60 votes needed to cut off debate on the measures.

The measure to curb the powers of the Fed has been a central theme of the presidential campaign of Sen. Rand Paul, a Republican from Kentucky. The legislation would end a ban on the Government Accountability Office’s authority to audit the U.S. central bank’s monetary policy moves that has been in place since 1978. The Republican House has already approved the measure.

The bill was designed to “pull back the curtain and uncover the cloak of secrecy” at the Fed, Paul said on the Senate floor. He said there had not been a full accounting for the swelling of the Fed’s balance sheet — to $4.5 trillion from roughly $800 billion before the financial crisis.

Just 53 senators voted to halt debate on the bill Tuesday. Sixty or more votes for “cloture” would have paved the way for possible final passage of the bill.

The bulk of the opposition to the measure came from Democrats.
Because supporting an unelected, unaccountable bank cartel is so liberal.


read more:>>>>Here

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