US public demands a Fed audit
Published: 23 November, 2009, 10:15
Edited: 28 November, 2009, 22:02
TAGS: Crisis, Protest, Politics, USA, Finance
Protesters gathered in New York on Sunday demanding accountability and transparency of the Federal Reserve Bank and joining what seems to be a nation-wide movement that calls for an audit of the Federal Reserve System.
Those present at the rally expressed concerns about the secrecy with which the Bank operates.
“I don’t know what they’re doing and that’s the whole point. They can be doing their job very well. They could be doing it very poorly. We just don’t know and we have the right to know,” said Anthony Lombard at the Campaign for Liberty.
The 96-year old Bank is one of the most powerful players in the US financial system, tasked with overseeing interest rates, currency and the allocation of bank bailout funds. But while all Americans are subject to meticulous tax scrutiny, the Bank seems to remain exempt from such a practice.
“They’re in secrecy, just like JFK and Eisenhower said. You have to be aware of these secret societies,” one onlooker noted, referring to President John F. Kennedy’s admonition of the dangers of secret societies during a 1961 address to the American Newspaper Publishers Association.
Following the tumult of the past year, which wreaked havoc on the financial stability of the US, Americans are now attempting to assert their prerogative for reliability and accountability.
Distrust for the system is thus deepening. “Just because it has a pretty little logo that looks real patriotic with an eagle, and it calls itself the Federal Reserve, really means nothing. We don’t control it. We have nothing to do with it,” says Jason Hulhan, a former banker.
22.11.2009, 09:20
1 comment
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The FED and all it's ill gotten assets worldwide should be seized by the United States and trials held for the perpetrators. These private bankers have enfringed upon the constitutional right of America to have an American government monetary system that functions in the interest of the American citizens, not owned by foreign and domestic billionaires. The time may be at hand when worldwide governments start to take control of their monetary systems and punish financial fraud that creates trillions of dollars for banking thieves. Billionaire today, inmate tomorrow? The wheels of justice turn very slowly, but occasionally, justice is served. Let all thieves rot in prison, especially the super rich ones.
@ vergo, Agreed, but I am afraid that Congress will not have the nerve to order an audit. Bernanke has as much as threatened to take down what is left of the US economy if they try to order an audit on the Fed.