Why does the Fed think it is OK to talk down a fragile economy?
By Daniel at 21 May, 2009, 10:48 am
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Why does the Fed offer up 5-6 yr projections, when they had no idea that the currently huge recession was even 6 months in front of their ‘Ivy league’ faces?
The Federal Reserve System and its members have done more harm than good over the decades.
If there was any serious federal budget cuts being consider in the near future, I pray that the Federal Reserve has drastic cuts, or even cut entirely! They are pathetically useless! Actually, they are horrifically dangerous. Both of which are bad for the USA and bad for its economy!
I see no good reason to keep the Federal Reserve System! it is a miserable failure!
Its high time we reigned in the FED. Its out of control and you know it. Contact your congress person now and demand that they co sponser this bill if they are not one of the 165 current co sponsers.
The Federal Reserve enjoys a monopoly over the flow of our money and credit but has never been completely transparent and accountable to Congress. Since its establishment in 1913 our dollar has lost more than 95 percent of its purchasing power.
In addition to more than $11 trillion national debt (over $36,000 per citizen), Congress, the Treasury, and the Federal Reserve have put us on the hook for almost $10 trillion in bailouts and loans. Yet, the Fed refuses to tell Congress which financial institutions have received these funds.
U.S. Rep. Ron Paul of Texas introduced HR 1207, which would deliver answers to the American people about how our money is being used. HR 1207, which is currently in the House Financial Services Committee, received the support of over 160 other representatives since its introduction and will amend section 714 of Title 31 of the U.S. Code to remove the restrictions on how the Government Accountability Office can audit the Federal Reserve.
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