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Thorough supervision of the Federal Reserve is vital – US Senate nominee
Published: 26 May, 2010, 11:06
Edited: 26 May, 2010, 18:57
TAGS: Health, Interview, Crisis, Politics, USA
As the US reels in the wake of economic downturn, Senate candidate Rand Paul has called for more supervision of the Federal Reserve.
The Republican nominee, who recently won the Kentucky primary, says increased transparency is vital.
Dr Rand Paul has called for more oversight of America’s central bank – the Federal Reserve – saying it could help prevent future financial turmoil.
“We need to have transparency in what’s going on at the Fed. During the crisis about a year ago, the Federal Reserve bought two trillion dollars worth of assets. Now you might say buying assets is good. Well if you buy your assets out of your savings it’s good, but the Federal Reserve bought these assets out of simply creating two trillion dollars worth of new money. And so I think it’s dangerous to our monetary system that it could cause devaluation or crisis for our currency.”
Dr Paul also claims a small group of individuals is currently making all the money at the expense of other US taxpayers.
“I also think that private individuals are making money out of the transactions that the Federal Reserve is involved with and we US taxpayers deserve to know if someone is making hundreds of million dollars buying and selling new US assets. We need to know who they are and what are they paying for these assets, and if this being done honestly.”
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May 26, 2010, 13:41, Truthammer wrote > There is so much corruption at the Federal Reserve that they will fight any attempt for a real audit . They will shred and hide evidence before that happens . If the American people ever find out what the Fed has actually been doing all these years they would revolt ! ====================== American people and others living in the so-called free-world don't stand a chance of ever finding out what the Fed has been doing, they will be busy consuming trash and dumb-down infomercials being served by spin presenters representing interests of robbery class. They may start waking up when oil hits 225$/barrel and price of food reflects it as most of it is trucked to inner cities from thousands of miles. That be some show!
Whoever controls the US Dollar controls the US Government, including its foreign policy and its military. The Federal Reserve control the US Dollar, and therefore controls the US Government - not the other way round as the naieve majority seem to think. The Federal Reserve is the most powerful 'private' organisation in the world. As such the average US citizen will have a better chance of seeing the world stop spinning than the internal workings of this organisation.