It's not too late to save America! ~ By Henry Lamb

The rise of Marxism in the mid 19th century that evolved into progressivism in America in the late 19th and early 20th centuries, found that competing political powers were an obstacle to progressive objectives. The Senate, chosen by state legislatures, could block any measure proposed by the House or by the president. Of course, this is precisely what the founders had in mind.

Randolph Hearst unleashed his media empire to publish stories bashing the Senate as a den of thieves chosen by corrupt politicians in cahoots with big industry. Today, George Soros funds Media Matters to publish stories in hopes of destroying all things inconsistent with progressive objectives.

The progressives in Hearst's day won the battle. Woodrow Wilson won the presidency in 1912; and his band of progressive politicians gave us the Federal Reserve, the income tax and the 17th Amendment, which removed the states from any representation in the federal government. The 17th Amendment required senators to be elected by the public, rather than by state legislatures.

The competition between political powers was gone. There was no competing political power to check or balance the power of the Washington government. From the day the 17th Amendment was declared to be ratified, the government in Washington has continued to expand its power, its size and its budget with no voice or power of opposition from the states.

I hope that Henry Lamb is right! It was the fact that Henry included "it's not too late" in the title that should get your attention. It got mine.

Being that I only write one of these posts daily, and I have many great columns to choose from, it isn't easy to decide which columns that I want to discuss. But, this is one of those great commentaries that jumped out at me. I was going to get to this one posted last Sunday night, but that turned out to be the day that Osama bin Laden allegedly went to room temperature. (Just a quick thought: Had the President been a Republican, it would have changed the very BOLD headlines to:  "OSAMA DIED, OR OBAMA LIED!!") The fact that I even have any doubts about the version(s) we have been told since last Sunday night, it is beginning to cast a very dark shadow over how I feel about Henry's "it's not too late" statement.

Just the notion that the Progressives have had a century to drill their propaganda into the minds of the youths, and Henry says that we can turn that around.... how? I tried to do my part by posting educational and uplifting videos... up until I was silenced! I hit the proverbial brick wall. (You may want to consider not getting this blog to go viral, or we may find it go the way of my former video venue.)

But, then again... There could be hope. There might be a way. Maybe it is not too late! You only need to know one thing: IT IS ABOUT SAVING AMERICA! What other motivation do you need, other than wanting to preserve freedom for our grandchildren? I'm just sayin'........

*   *   *

It's not too late to save America!

HENRY LAMB

By Henry Lamb

April 30, 2011 ~ 1:00 am Eastern

© 2011

Editor's note: Listen to this column online.

On April 18, Standard & Poor's issued the following notice:

Because the U.S. has, relative to its "AAA" peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable.

On April 26, Market Watch reported:

According to the latest IMF official forecasts, China's economy will surpass that of America in real terms in 2016 – just five years from now.

Federal Reserve Chairman Ben Bernanke says that unless Congress raises the debt limit:

" ... the United States would be forced into a position of defaulting on its debt. And the implications of that on our financial system, our fiscal policy and our economy would be catastrophic."

It certainly sounds as if the United States of America needs to be saved from certain bankruptcy resulting from crushing debt, from an economically aggressive China that has taken all our jobs and from a world that no longer believes the United States is the leader of nations.

It's not too late to save America, but it will take a massive revival and rededication to the principles that made America great in the first place. America is on the brink of oblivion because those principles have been replaced by a modified form of Marxism, popularly known as "progressivism." Progressivism is the philosophy advanced by the Democratic Party – which routinely ignores first principles in its quest to seize control of political power.

READ MORE at WND.com

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We're all communists now ~ By Ellis Washington

The official Soviet party newspaper was called "Pravda" (truth), but printed only lies and communist propaganda. The Soviets mastered absolute control of all media so that the people remained ignorant, fearful and suspicious of the U.S. America's media has long championed socialist propaganda. Thank God for WND!

Since about 1937 when FDR's "New Deal" programs were ruled constitutional, America has gradually devolved into a socialist nation which if Obama gets re-elected in 2012 will push our nation totally into communism. Lenin boasted, Give me four years to teach the children and the seed I have sown will never be uprooted. America's only hope is to ally with independent-minded people like the tea party, deconstruct every brick of the communist welfare state via the electoral process while purging the GOP of RINOs, take back the courts and reestablish a political discourse rooted firmly on the foundations of God, natural law, fair capitalism and the original intent of the framers of the Constitution.

See "What is Communism?" at 1:04 mark:

Video provided by PIMannix on May 24, 2007

In a very important column written by Ellis Washington, he explains how "socialism" is just a euphemism for "communism." To make it more clear what he meant, I looked up euphemism to find out that it means "the substitution of a mild, indirect, or vague expression for one thought to be offensive, harsh, or blunt."

I salute Ellis for making this point. I know, it is really difficult to accept that the word "socialism" could ever be considered to be "mild." Yet, millions of Americans apparently think that there is no problem with socialism. It is a word that no longer seems to be offensive. And how could that possibly happen? You'll find out when you read this column, from beginning to end. Watch the video presented above, from beginning to end.

Now, one more thought I had after reading this column. I got down to the part where Ellis began with, "America's only hope...", and there were a lot of things that would need to get done. How, Ellis?

Ellis, are you really saying that obscure individuals like me can make a difference, and accomplish the tasks that you spelled out in that paragraph?

Let's be honest. "Fighting City Hall" is not an easy task. Even if you find a way to touch a lot of people, you can find your venue quickly erased. Ask Glenn Beck. Or just ask me, someone who was formerly on youtube that had 4.3 million total views of my 1300+ videos, only to be simply and swiftly terminated. ... Never mind.

While I'm happy to tell you that I absolutely agree with what Ellis tells us that needs to be done, there should be no doubt that some of us will end up paying a price. I'm not even sure how big of a price will need to be paid. There are some like Michael Murphy that were willing to pay the ultimate price. And then there are some like Victoria Jackson, and many more like her, that would give up potentially lucrative Hollywood careers to tell it like it is.

So, to stop the disease of socialism - soon to devolve into communism - that is infecting America, what price are you willing to pay? Are you willing to speak up after calculating the possible consequences? Would you be willing to share what you learn? I know many people that do, and they are my heroes. But, are there enough of us without your help? I'm just sayin'....

We're all communists now

ELLIS WASHINGTON

By Ellis Washington

April 30, 2011 ~ 1:00 am Eastern

© 2011

Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.

– Sir Winston Churchill

Communism in America was exposed in a 1958 book by conservative writer Cleon Skousen, "Naked Communist." State-controlled capitalism, Federal Reserve, federal taxes, Social Security, Medicare, Medicaid, unionism, welfare statism (subsidies) and pension plans, are examples of the thousands of treasonous Ponzi schemes and slush funds politicians have used since the 1850s to dumb down society, buy votes and broker power.

Examine this simple syllogism below from the own mouths of the forefathers of communism:

• Marx: Democracy is the road to socialism;

• Lenin: Democracy is indispensable to socialism. The goal of socialism is communism;

• Marx: The meaning of peace is the absence of opposition to socialism.

The logic is both diabolical and totalizing. Socialism is merely a euphemism for communism. Ergo, we're all communists now.

Skousen's book cited 45 communist strategies used to systematically deconstruct American institutions – Christianity, economics, education, capitalism, science, politics, the courts, natural law, etc., by purposely collapsing the system via the Cloward-Piven Strategy – top down, bottom up, inside out, and from the ashes erect a glorious new society based on Marxist atheism and the god of the state. Let's examine whether Skousen's predictions have come to fruition:

Develop the illusion that total disarmament by the United States would be a demonstration of moral strength.

Disarming the U.S. didn't start during the anti-war protests of the hippies, anarchists and socialists of the 1960s. Homegrown traitors of America have disarmed America by giving military secrets to our enemies. Julius and Ethel Rosenberg and physicist's Robert Oppenheimer and Klaus Fuchs are just the most conspicuous. We have disarmed our military by promoting appeasement generals, putting women in combat positions and allowing homosexuals to serve openly.

Promote the U.N. as the only hope for mankind. If its charter is rewritten, demand that it be set up as a one-world government with its own independent armed forces.

Wilson's League of Nations (1919) became the United Nations under FDR at the San Francisco Conference in April, 1945, just 13 days after he died in office after serving four terms tirelessly deconstructing American society brick by brick and turning it into a servile welfare state. NATO is the U.N.'s de facto military presently fighting in Libya under the George Soros responsibility to protect doctrine. Many more U.N. wars will follow.

READ MORE at WND.com

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Global currency around the corner? ~ By Henry Lamb

Before you read Henry's column about a coming global currency, it's educational movie time. Please be sure to watch both videos:

John Maynard Keynes and Economic Fascism (by MDJarv )

From the description for this video:

To quote something Keynes said back in 1920:

"There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

What is stated above is both an incredibly alarming and important statement from a very dangerous psychopath, as it highlights the elite agenda almost perfectly. This agenda entails the destruction of national currencies to usher in a totalitarian police state and a completely managed global economy, with a one world currency and central bank (something Keynes was advocating back in the 1920s and 30s).

Video provided by rozovo

The World Bank (WB) & The International Monetary Fund (IMF)

Video provided by Darganot

Some of the readers that come to this space on occasion have probably noticed that I have posted many of Henry Lamb's columns here. Many of his columns discuss global governance, and the loss of the sovereignty of the United States. This column explains something very important about the desire to have a one world government. The goal is something that people have been working toward for nearly a hundred years, if not longer. It has been an incremental process, orchestrated by small groups of elites in positions of power, many that have been involved in banking and government. And I am sure that many people still take this lightly, as if they don't believe it will or can ever happen.

It is my feeling that what is taking place since Obama became President is a signal to us that their goal is closer than ever. It is like they are now down to the one yard line, and another financial crisis could punch the ball over the goal line. New World Order, here we come (kicking and screaming). Just sayin'...

Those who advocate global governance have changed their tactics, but not their goal. They have made great strides through a variety of treaties, and particularly through the implementation of Agenda 21 and the concept of sustainable development. The erosion of freedom that is inevitable under any system of global governance has been painted green, packaged in a bundle labeled "social justice" and sold to a generation of Americans eager to make the world a better place.

The global currency proposed by the IMF is just the latest step toward that ultimate utopian vision pursued for so long by so many. The freedom that powered America's rise to greatness cannot exist in a system of global governance. Individual freedom, granted by the Creator and guaranteed by the U.S. Constitution is at best diminished by global governance, and at worst completely denied.

Global governance in any form must be rejected.

By Henry Lamb

Posted: August 21, 2010 ~ 1:00 am Eastern

© 2010

If the International Monetary Fund gets its way, the U.S. dollar will be replaced by the "bancor" as the world's reserve currency. According to a report published April 13, the IMF would like to adopt a plan of action that would expand the use of SDRs (Special Drawing Rights) to replace the U.S. dollar as the storehouse of value and eventually create a global currency called the "bancor."

"Bancor" is the name suggested by John Maynard Keynes, the British economist who headed the World Banking Commission that created the IMF during the Breton Woods negotiations, which preceded the United Nations.

The new global currency would be issued by a new global central bank that would have the authority to levy taxes for various infractions. The bank would have to be, according to the report writers, "accountable to member nations, but remain independent." This statement sounds much like the defenders of the Federal Reserve, which was created by Congress and is supposed to be accountable to Congress, but refuses to allow Congress to audit its activities or even to answer congressional questions about to whom it lends U.S. dollars.

A global central bank has long been a goal of those who advocate global governance. America's school system has failed to teach students about the century-long conflict between those who want a global governing authority and those who do not. Schools barely teach that Woodrow Wilson and his colleagues created the League of Nations, or why this institution failed. Schools never explain that many of the same people who promoted the League of Nations continued their efforts through non-government organizations such as the Council on Foreign Relations until Franklin Roosevelt was elected president.

Schools do credit Roosevelt with helping to create the United Nations, but they never explain that Roosevelt brought into his administration dozens of people from the Council on Foreign Relations to draft his "New Deal," as well as plans for the United Nations.

Schools do not teach that President Kennedy planned to turn over U.S. military power to the United Nations to give the emerging global government the power to enforce its policies. People who refuse to accept this statement are encouraged to read "Freedom from War: the United States Program for General and Complete Disarmament in a Peaceful World," Department of State Publication 7277, released September 1961.

The people who believe the world should be governed by a global authority have been working toward this goal for more than a century. They are relentless; they are driven; they are convinced that they know best how people should live. They believe that all nations and all societies should be controlled by an elite, benevolent intelligentsia that can ensure social justice by enforcing what has now become known as sustainable development. These people are closer to achieving their goal than at any previous time in history.

Woodrow Wilson assumed his political power would be sufficient to impose the League of Nations. He underestimated the determination of freedom-lovers such as Henry Cabot Lodge and other senators who refused to ratify the treaty that created the League. Roosevelt assumed that the devastation of World War II would be sufficient to usher in the era of world government under the authority of the United Nations – and he was right, until political reality crushed his utopian socialist dream of a global community.

Listen to this column online.

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Obamacare scheming smells of Jekyll Island ~ By Jack Cashill

A century ago, powerful men came up with a plan for a centralized banking system. We now know it as the Federal Reserve.

I started this post of Jack Cashill's column today with the three following paragraphs that should sound very familiar, something that is happening today, 100 years later, with the Health Care reform plan.

To give the illusion of a grass-roots effort, the committee of seven launched a National Citizens League for the Creation of a Sound Banking System and headquartered it in Chicago rather than New York.


To win over Congress, supporters of the plan would have to lose the "Aldrich" name and find a Democratic sponsor. Happily for them, Carter Glass, the head of the House Banking Committee, stepped up to champion the cause in the House.


The House Democrats and now President Wilson insisted on changes. They demanded not only the appearance of decentralization, but also at least a smidgen of reality.

By Jack Cashill

Posted: March 18, 2010 ~ 1:00 am Eastern

© 2010

In my new book, "Popes and Bankers," I tell the story of how 100 years ago this November, six faux duck hunters gathered on a small private island off the coast of Georgia.

The stealthy, incremental way in which the group plotted big government's future set something of a blueprint for a century to come, one that Obama, Pelosi, Reid et al. have followed almost to the letter.

For at least four of the six, the descent to Georgia was draped in mystery. Each guest was instructed to show up at Hoboken Station and there board the private railroad car, blinds drawn, of Sen. Nelson Aldrich.

Aldrich, they knew, was John D. Rockefeller's man in the U.S. Senate. He and Henry Pomeroy Davison, a senior partner in the House of Morgan, would accompany them on the journey to a destination that had been secured by J. Pierpont Morgan himself.

At Brunswick, Ga., the six men boarded a boat headed for Jekyll Island, a hunting retreat for the elite described by one magazine as "the richest, the most exclusive and most inaccessible club in the world."

For the next 10 days, the six men and a small, skeleton staff had the island to themselves. They emerged at retreat's end with what came to be known as the "Aldrich Plan," a document that, with a few modifications, would soon enough reshape the world of finance.

For the record, the duck hunters owed their invitation to the Panic of 1907 and the man who calmed it. That crisis had found Morgan at the peak of his powers.

Now more than 70 years old, he caused Wall Street and Washington to wonder what would happen in a future emergency if there were no Morgan among them.

"Something has got to be done," Aldrich worried out loud. "We may not always have Pierpont Morgan with us to meet a crisis."

Even before the panic, academia had been quietly militating for a solution to future crises that did not involve Morgan or any other independent agent.

The academics saw central control along scientific principles as a solution to a free and competitive market. At a Columbia University conference in 1907, one Frank Vanderlip argued that a competitive, decentralized banking system caused the panic, "one of the great calamities in history."

His outspokenness on this issue earned him a round trip to Jekyll Island. Following Vanderlip at Columbia was Paul Warburg, a 34-year-old partner in the investment banking house of his in-laws, Kuhn, Loeb & Company.

"Small banks constitute a danger," he told those gathered at Columbia in arguing for the benefits of European-style banking.

Warburg, in fact, had a problem with the whole idea of a free, self-regulating market. He hoped to replace Adam Smith's "invisible hand" with the "best judgment of experts," himself high among them. In 1910, Warburg too took up duck hunting on Jekyll Island.

A. Piatt Andrew and Benjamin Strong donned their hunter togs as well. Indiana born, Andrew had been educated at Princeton and in the inevitable Europe and had taught economics at Harvard.

Then the president of Banker's Trust Company, the 39-year-old Strong owed his career to Davison and to Davison's boss, Morgan.

Strong and Davison were the two Morgan men in attendance. Aldrich and Vanderlip were Rockefeller men. Warburg represented Kuhn, Loeb, and Andrew, an economist, was friendly to all camps.

The only duck or wild turkey the men saw during the 10-day retreat was on their dinner plates. Before leaving, the six men took a pledge of secrecy. It would be four years before anyone got wind of the meeting and 20 years before any of the men admitted being there.

Given the secrecy and the seriousness of the enterprise, the swamps of Jekyll Island would serve as the primordial stew for a thousand conspiracy theories, some of which are close to accurate.

Strong and Vanderlip drafted the document, initially called the Aldrich Plan, which summarized the strategy agreed upon at the retreat. The plan called for the creation of a "National Reserve Association," a sort of banker's cooperative that replicated the function of a central bank without calling it such.

The association would have the authority to issue currency and lend to commercial banks. Although government appointees would sit on the association's board, the bankers themselves would control it.

Aldrich had recommended a straightforward central bank on the European model, but the non-politicians knew better than he that a central bank could be more readily sold to the public if packaged as a decentralized bank.

Sound familiar?

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Ron Paul's hour of power ~ By Patrick J. Buchanan

Commentary from WorldNetDaily

By Patrick J. Buchanan Posted: December 11, 2009 ~ 1:00 am Eastern © 2009 The decades-long campaign of Ron Paul to have the Government Accountability Office do a full audit of the Federal Reserve now has 313 sponsors in the House. Sometimes perseverance does pay off. If not derailed by the establishment, the audit may happen. Yet, many columnists and commentators are aghast. An auditors' probe, they wail, would imperil the Fed's independence and expose it to pressure from Congress to keep interest rates low and money flowing when the need of the nation and economy might call for tightening. They cite Paul Volcker, who to squeeze double-digit inflation out of the economy in the late Carter and early Reagan years, drove the prime rate to 21 percent, causing the worst recession since the Depression. Volcker, they claim, prepared the ground for the Reagan tax cuts and seven fat years of prosperity. That decade, America created 20 million jobs – and another 22 million in the Clinton era. Without Volcker putting the economy through the wringer, it could not have happened. And had he been forced to explain his decisions, Congress would have broken his policy. Such is the cast for Fed independence. But if true, what does this say about our republic? READ FULL STORY >

What really caused the Great Depression ~ By Walter E. Williams

From WorldNetDaily

By Walter E. Williams Posted: November 04, 2009 ~ 1:00 am Eastern © 2009 Steve H. Hanke is a professor of Applied Economics at Johns Hopkins University in Baltimore and senior fellow at the Cato Institute in Washington, D.C., and writes frequently for Globe Asia and Forbes magazine. Professor Hanke starts off his "Hu versus Sarkozy" article (Globe Asia, November 2009) with a warning. There is no more reliable rule than the 95 percent rule: 95 percent of what you read about economics and finance is either wrong or irrelevant. The article contrasts the Chinese versus the French responses to the financial crisis, but the major focus is on economic myths. Hanke says that the most repeated statement about the cause of the U.S. Great Depression is that it was caused by the October 1929 stock market crash. How could that be? By April 1930, the stock market had recovered to its pre-crash level. What is not taught in history books is the Great Depression was caused by a massive government failure. The most important part of that failure were the actions by the Federal Reserve Bank that led to the contraction of the money supply by 25 percent. Then, in the name of saving jobs, Congress enacted the Smoot-Hawley Act in June 1930, which increased U.S. tariffs by more than 50 percent. Other nations retaliated and world trade collapsed. U.S. unemployment rose from 8 percent in 1930 to 25 percent in 1933. In 1932, the Herbert Hoover administration and a Democratic Congress imposed the largest tax increase in U.S. history, raising the top tax rate on income from 25 percent to 63 percent. The Roosevelt administration followed these destructive policies with New Deal legislation that massively regulated the economy and extended the Great Depression to after World War II. Have today's politicians and their economic advisers learned anything from yesteryear's policy that turned what would have been a short, sharp downturn in the economy into a 16-year affair? The answer is very little. Professor Hanke argues that the chief enabler of both the Great Depression and our latest economic downturn is the Federal Reserve Bank, who sees itself as America's systemic risk regulator. This is the world upside down, Hanke explains: The Federal Reserve is the systemic risk. [CLICK HERE TO READ MORE]

Federal Reserve Board fights to keep its secrets

From WorldNetDaily

Warns disclosing where money went would cause 'irreparable harm' Posted: August 29, 2009 ~ 12:25 am Eastern By Drew Zahn © 2009 WorldNetDaily The Federal Reserve Board, despite being ordered to disclose to whom it awarded roughly $2 trillion in discount "stimulus" loans, is fighting to keep the information under wraps as a protected "trade secret." Earlier this week, a U.S. district court judge rejected the Fed's argument that the names of borrowers are exempt from disclosure under the Freedom of Information Act and ordered the board to release the information by Monday, Aug. 31. The Fed's board of governors, however, has now filed a motion asking the judge to delay enforcement of the order, seeking time to appeal and arguing that disclosing which banks borrowed the funds could lead to a backlash from the banks' customers and stockholders. [READ ENTIRE STORY]

What the Fed Has Done to Us ~ By Ron Paul

From LewRockwell.com By Ron Paul July 27, 2009 Before the Committee on Financial Services, U.S. House of Representatives, July 21, 2009 The Federal Reserve in collaboration with the giant banks has created the greatest financial crisis the world has ever seen. The foolish notion that unlimited amounts of money and credit, created out of thin air, can provide sustained economic growth has delivered this crisis to us. Instead of economic growth and stable prices it has given us a system of government and finance that now threatens the world financial and political institutions. Real unemployment is now 20% and there has not been any economic growth since the onset of the crisis in the year 2000, according to non-government statistics. Pyramiding debt and credit expansion, over the past 38 years, has come to an abrupt end – as predicted by free-market economists. Pursuing the same policy of excessive spending, debt expansion, and monetary inflation, can only compound the problems and prevent the required correction. Doubling the money supply didn’t work; quadrupling it won’t work either. The problem of debt must be addressed. Expanding debt when it was a principal cause of the crisis is foolhardy. Excessive government and private debt is a consequence of a loose Federal Reserve monetary policy. Once a debt crisis hits, the solution must be paying it off or liquidating it. We are doing neither. Net US debt is now 372% of GDP. In the crisis of the 1930s it peaked at 301%. Household debt services requires 14% of the disposable income – an historic high. Between 2000 and 2007 credit debt expanded five times as fast as gross domestic product. [CONTINUE READING!]

A force of one: the Federal Reserve ~ By Chuck Norris

By Chuck Norris Posted: July 13, 2009 1:00 am Eastern © 2009 I agree with Judge Andrew Napolitano, who said last week, "We know more about the CIA than we do about the Federal Reserve." The Federal Reserve is the Freemasonry of government agencies. It is a virtual secret society unto themselves – a group of unelected brokers who hold the value of our dollar in the palms of their hands. This one agency, with its power to raise and lower interest rates, has exercised more control over the economy than other government body. So with that type of single-handed power, why should we be surprised when the U.S. Senate blocked a bill last week to audit the Federal Reserve? Tis true! Rep. Ron Paul and more than half of the House cosponsored the Federal Reserve Transparency Act, HR 1207, which they hope to have hearings on soon. On the Senate side, however, Sens. Jim DeMint, Mike Crapo and David Vitter cosponsored S 604, companion legislation introduced by Bernie Sanders. But it was stopped cold before even being introduced on the floor on "procedural grounds." Could it really be a mere coincidence that the bill to audit the Federal Reserve was refused from even being introduced and that this agency remains the "quick convenience store-house of money" for the Obama administration's borrowing and bailout monies? Again, as Judge Napolitano said, "The Obama administration not only doesn't want the Federal Reserve audited, it now wants to put the power to regulate all financial institutions – banks, insurance companies, brokerage houses – into the hands of this super secret bank. What are they afraid we might see if we get a chance to look at their books?" As if there are not enough signs of the Fed's inadequacy, two expert economists on the Federal Reserve specifically warned Congress last Thursday not to expand the power of the Fed to oversee and monitor public financial structures. Allan H. Meltzer, professor of economics at Carnegie-Mellon University and one of the central bank's most prominent historians, having written a three-volume reference work on it, conveyed a series of U.S. financial collapses over the last three decades in which the Fed had either failed to take preventive action or made things worse. And the White House and majority on Capitol Hill want to give the Federal Reserve more power and autonomy? Have they finally lost their minds? So why does this federal agency need a complete auditing? It's very simple. Because America is in the worst economic situation since the Great Depression, the value of the dollar is tanking on the world market and the Federal Reserve wields the greatest power to control it with virtually no accountability – let alone that the American people and even Congress have virtually no knowledge of what those inside are doing day to day. On Dec. 23, 1913, President Woodrow Wilson signed the Federal Reserve Act, creating a seven-member board of governors (appointed by the president and approved by Congress) and 12 regional banks. From thereafter, banks continued lending money to the public, but the Fed controlled the flow of money via fluctuating interest rates and the tides of credit and money supply and demand. (This was the gravest governmental mistake in 1913. A close second was the ratification of the 16th Amendment to the Constitution, which mandated income taxes as national law.) [CONTINUE READING]

What critics missed about treasury chief - By Jerome Corsi

OBAMA WATCH CENTRAL

Geithner presided over Wall Street collapse as regional Fed president

By Jerome R. Corsi © 2009 WorldNetDaily NEW YORK – While the nomination of Treasury Secretary Timothy Geithner generated plenty of heat because of his failure to pay income taxes for five years, almost unnoticed amid the controversy is the fact that he presided over the failure of some of the largest banking institutions in the world – institutions he was charged with overseeing and regulating as head of the New York region of the Federal Reserve Bank. On Nov. 17, 2003, Geithner became the ninth president and chief executive officer of the Federal Reserve Bank, a position he held until he was nominated by President Obama as treasury secretary. The Federal Reserve's charter makes it responsible for the strength of the financial institutions operating in each of its 12 regional districts. The Federal Reserve Bank of New York presides over Wall Street-based financial institutions. [Continue Reading]

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