In what seems like an ironic response to HR 1207 to Audit the Fed, this week, the Obama administration unveiled another scheme to give more power to an already out of control Federal Reserve under the guise of regulatory “reform” and put us further under the control of the global banking cartel.
Download the Federal White Paper Please note that it is [5.7MB]
This Fed power grab will do nothing to help our economy or enable us to take control back from banksters and Wall Street insiders. Instead, their proposal will address our economic crisis by creating more rules, regulations, and government agencies. And of course, the plan is to spend more money we don’t have to implement this bureaucratic nightmare.
The Federal Reserve, currently taking hits from all sides, receives a substantial increase in powers from this proposal. Yes, you read that right. In the midst of the unprecedented squandering of TRILLIONS of taxpayer dollars, the Fed is going to get MORE power, unless you and I stop this scheme.
According to The Wall Street Journal:
The proposal, if passed into law, would represent one of the biggest changes ever in the Fed’s role. The central bank would win power to monitor risks across the financial system, and sweeping authority to examine any firm that could threaten financial stability, even if the Fed wouldn’t normally supervise the institution. The nation’s biggest and most interconnected firms would be subject to heightened oversight by the central bank…
Read the rest of the WSJ Article which also has an Audit the Fed mention.
Also, the WSJ refers to it as a power grab.
In yet another WSJ article, we find that:
The Fed emerges from the plan with the power to oversee from top to bottom almost any financial company in the country, including the firms’ foreign affiliates…
So any financial firm, even if it doesn’t actually own an insured depository institution, would be subject to regulation by the Federal Reserve.
The same institution that fueled the housing bubble and made our current economic crisis possible is now the one who gets to decide who poses a risk to the economy!
The idea that the Fed’s power would be increased right now is absurd.
Thanks to the efforts of Ron Paul and HR 1207, well over half of the House of Representatives (244) is now on record supporting a thorough audit of the Federal Reserve.
So why would Congress even consider granting the Fed new powers?
As you may have seen, recorded testimony from the Fed’s Inspector General shows she has NO IDEA how our money is being spent there and NO IDEA what is really going on — or at least won’t say.
And according to this Reuters article, the central bank is under so much fire that it has to hire a lobbyist to defend itself on Capitol Hill, from Enron.
Despite all the promises of “change” that were so easy to make during the primary season, the Obama administration is practicing business as usual.
Like previous administrations, its ideas involve centralizing power among a few under the guise of “streamlining” the process. Instead of achieving accountability, this plan will further empower the Fed and their allies on Wall Street and in international banks.
1. Urge your Congressman and Senators to support H.R. 1207/S. 604, Ron Paul’s Audit the Fed bill, to pull back the curtain and expose the out of control Fed once and for all. If your Congressman or Senator is already a cosponsor, urge him or her to do everything in their power to ensure this vital bill comes to a vote in the near future. (See first item on Fed under “Issues”.
2. Insist your Congressman and Senators resist granting any new power to the Fed by rejecting the Obama administration’s new financial regulatory scheme.
If you doubt the central bankers have always been in control, please read about their little confab that was held in Canada last week and note who was present – unelected UN bureaucrats deciding with the world banks, how to further redistribute the wealth:
Program for the NWO Pleasea note that this file is [3.3MB]
MONTREAL – Today marked the first day of the four-day Conference of Montreal, this year entitled “Adapting to a New World Order.” Present at the conference is a who’s who of international finance and politics, including the heads of the World Bank and the IMF, Presidents, Prime Ministers. This is the fifteenth anniversary of the Conference of Montreal. The conference is taking place at the Bonaventure Hilton in downtown Montreal until Thursday. According to reporters today’s meetings dealt mostly with the economic crisis and what strategies should be employed to deal with it. One of the reporters gave a schedule for the next four days and on Wednesday there is a Luncheon at noon entitled “The Americas and the New World Order” headlined by Madeleine Albright which may or may not be a discussion of the North American Union. The descriptive blurb in the schedule describes it thusly: “How can the Americas make changes to play their part in the establishment of a more stable, and fair, basis for international prosperity?”
Basically, the Obama administration is setting up a DICTATORSHIP with the CENTRAL BANKS in charge of everything.