OpenGov - Open Government Brainstorm

What - and tangle with the new world order!

That is ok . . . the Liberals wanted change, now that is all they have left.

The fed is not misssing $9 trillion dollars.

Rep Grayson included amounts loaned, not loaned but pledged, FDIC commitments and Treasury department pledges when he asked the FED internal audit about off balance sheet items.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoSB9ZlT_ivE

The Fed is already audited by both internal auditors and external auditors. The FED Board of Governors and the New York Federal Reserve Bank are both audited by Deloitte and Touche. I'm sure you can easily find out who audits the other Federal Reserve Banks.

In 1913, Congress voted to hand over its Constitutional authority

to "coin money and regulate the value thereof" to a consortium of private banks.

It passed the "Federal Reserve Act".

Although certain officers are appointed by the President,

Congress exercises little to no oversight over the Fed's activities.

The 12 regional Federal Reserve Banks are

owned by the member banks who buy shares in it.

All nationally chartered banks and bank holding companies

are by default member banks of the Federal Reserve System.

Just a few of the powerful banks which are owners of the Federal Reserve District Banks:

Goldman Sachs Bank (San Francisco Fed)

Bank of America (Richmond Fed)

Morgan Stanley (San Francisco Fed)

On the Board of Directors of the New York Federal Reserve Bank we find:

Jamie Dimon

Chairman of the Board and Chief Executive Officer

JPMorgan Chase

Jeffrey R. Immelt

Chairman and Chief Executive Officer

General Electric Company

Indra K. Nooyi

Chairman and Chief Executive Officer

PepsiCo, Inc.

Should Americans assume that these individuals serve on the Board of the New York Fed in the public interest or in their private, corporate interests? What do you think?

For example (one of many): JPMorgan Chase was able to buy up both Bear Stearns and Washington Mutual Bank for pennies on the dollar through its cozy relationship with the Federal Reserve Bank of New York and the FDIC.

On the Board of Governors of the Federal Reserve System, we find that Kevin M. Warsh was from 1995 to 2002, a member of the Mergers & Acquisitions Department of Morgan Stanley & Co., in New York, serving as Vice President and Executive Director.

This is but one of many examples of the cross-pollination between the world of private, international banking and the nominally "Federal" central banking system.

Alan Greenspan, the former Chairman of the Federal Reserve, admitted recently that the Fed operates without Congressional oversight.

"Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't, frankly, matter."

The Fed is, in fact, a private corporation which has been granted a monopoly on the issuance of money by the public authority of government. It is therefore a public-private partnership--an alignment which many political scientists define as Fascism.

It is important to state that private banking control of the Federal Reserve Bank is not significant for the direct profits which member banks accrue. It is the CONTROL over the money supply, the MANIPULATION of the general conditions of credit and debt and the POLITICAL POWER associated with the private ownership of the nation's central bank which is meaningful.

The "Federal" Reserve is Federal in name only.

It is comprised of private banks and serves private banking interests and is accountable to no public authority.

They left it in their other pants

Any more thoughts? Better yet, links to articles about this? Nine trillion dollars is a lot, not too much smaller than the national debt itself. I don't see how this would be possible.