Tuesday, October 06, 2009

Is the Federal Researve a 'Secret Society'?

While the White House claims an urgency to pass healthcare reform, and while Christina Romer, chairwoman of the White House Council of Economic Advisers, tries to convince the American people that the $787 billion stimulus plan is working by siting things such as the $25 a week increase in unemployment checks the now 9.4% unemployed in our country are getting, the facts prove otherwise.

Holding something like this up as proof that the stimulus plan is working is, to put it mildly, unbelievable. Especially when you look at just how much of the 'stimulus' is actually 'stimulating' the economy, and how much (almost half of the $787 billion) is going for 'appropriations', aka pork, as seen in the chart put together by Senator Ben Nelson. (See chart here.) And, by the way, please note that Congress included in the 'stimulus' package an increase of $20 million for its own budget to cover the salaries and expenses of 'temporary staff'. It doesn't take a rocket scientist or economic wonk to see that this kind of 'Congressional oversight' is a foreshadow of what can be expected in the oversite of the proposed government-run healthcare system. But I digress.

What has really happened to our economy? Why did it plummet just before the 2008 election? What other forces were at play besides the initially sited culprits, Fannie and Freddie? Many Americans are still asking these questions.

Let me ask you a question: How much do you know about the Federal Reserve, the all-powerful, privately owned, non-federal government-run, national bank that wields tremendous economic power over our nation? We talked about this on our show recently, including a segment of an interview I did with Paul Walter, about the book his publishing company reprinted, The Coming Battle, written in 1899 outlining how the banking money power gained control of America. (Hear that interview online here.)

Article 1, Section 8 of the Constitution states that Congress shall have the power to coin (create) money and regulate the value thereof.

In 1935 the Supreme Court ruled that Congress cannot delegate its power to another group.

But things have changed. Today it is the Federal Reserve that controls and regulates the U.S. dollar.

Interestingly, Congress refused to audit the Federal Reserve after bills co-sponsored by Rep. Ron Paul and more than half of the House (Federal Reserve Transparency Act, HR 1207), and in the Senate (S 604) co-sponsored by Sens. Jim DeMint, Mike Crapo and David Vitter, were stopped before even being introduced on the floor on "procedural grounds." Why would they do that?

Writing in his recent article, "A Force of One: the Federal Reserve," Chuck Norris makes the claim that the FED is a secret society, "I agree with Judge Andrew Napolitano, who said last week, 'We know more about the CIA than we do about the Federal Reserve.' The Federal Reserve is the Freemasonry of government agencies. It is a virtual secret society unto themselves - a group of unelected brokers who hold the value of our dollar in the palms of their hands. This one agency, with its power to raise and lower interest rates, has exercised more control over the economy than any other government body."

Norris continues...

Read rest of article here.

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