The Federal Reserve’s Economic Stimulus Policies Stimulate the Banking Cartel Instead
Bernanke Warns Congress: Don’t Change Law To Review Fed’s Policies is the title of a Washington CBS Local news article published, October 1, 2012.
The article reads “Chairman Ben Bernanke offered a wide-ranging defense on Monday of the Federal Reserve’s bold policies to stimulate the still-weak economy,” going on to say, “The chairman cautioned Congress against adopting a law that would allow it to review the Fed’s interest-rate policy discussions. The House has passed legislation to broaden Congress’ investigative authority over the Fed and allow a review of its interest-rate policymaking. The Senate hasn’t adopted the bill. Bernanke warned that such a step would improperly inject political pressure into the Fed’s private deliberations and affect the officials’ decisions.”
The Federal Reserve’s policies are indeed bold; however, they are stimulating the banking cartel’s pockets, not the still-weak economy’s. According to a Financial Times article published also on the first of October, “Banks reap profits on mortgages after QE3.”
Bernanke cautions” against legislation that would all a review of its interest-rate policymaking warning “that such a step would improperly inject political pressure into the Fed’s private deliberations and affect the official’s decisions.” There has been legislation introduced and has passed the House calling for an audit of the Federal Reserve.
Interesting how a supposed government institution who is supposed to be accountable to its citizens and government is covered in a shroud of secrecy. It can freely operate in its secrecy because the Federal Reserve has always been a “private” institution.
Lewis v. United States, 680 F.2d 1239 (1982) establishes that the Fed is a “private independent corporation.” The writer of this CBS article also recognizes the Fed’s privacy and the privacy of their deliberations.
Both the CBS article and the FT have added to the heap of incriminating documents, reports, and actions on the Fed. They simply establish that the Fed’s economic policies are not stimulating a still-weak economy, but are just lining the pockets of the bankers who either hold shares in the Fed, as well as the Fed’s regional banks, or are reaping “profits on mortgages after QE3.”
Related posts:
- The Federal Reserve, a Privately Owned Banking Cartel, Has Been Given Police Powers, with Glock 22s and Patrol Cars
- Monopoly Men (Money Banking-Federal Reserve Fraud)
- Congressional Record: The Federal Reserve is One of the Most Corrupt Institutions the World Has Ever Known
- Federal Reserve Police Force Funded by Taxpayer Money
- Congressional Record: Charging Federal Reserve Members for Theft of $28 Billion Dollars, 1928
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