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"Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control

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posted on Jan, 1 2015 @ 10:55 PM
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Looks like new life for that controversial legislation always proposed by Congressman Ron Paul.

He was always pushing for a full and complete audit of the U.S. Federal Reserve.

Lots of conspiracies, controversies, and speculation rose out of discussions about the Federal Reserve and how they are not actually a U.S. Government Agency.

Many think the Fed is the controlling arm of TPTB with global tentacles.

The story goes into some details and mentions the Democrats have been fighting this and now the Federal Reserve itself is lobbying against the threat of an "audit".


"Audit The Fed" Bill Gains Momentum, Yellen Starts Damage Control




After years of being blocked by Democratic leader Harry Reid, The Washington Times reports, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making. Ron Paul's flagship legislative efforts have been picked up by his son and now has the backing of the leader of the new Republican majority, Sen. Mitch McConnell, whose office says the legislation will earn a floor vote. While the bill is not a sure thing, it appears to have The Fed worried as Reuters reports, Yellen and other Fed officials are lobbying Capitol Hill to drop the audit push.

After years of being blocked by Democratic leader Harry Reid, the Senate will finally get a chance next year to vote on legislation to force a broad audit of the Federal Reserve's decision-making.


The story seems to be referring to a "policy audit" and not necessarily a financial audit.

Why would some politicians NOT want an audit?

Why would the Fed be lobbying for a NOT audit?


Very Suspicious !!

"WHO" Really *OWNS* the Federal Reserve Anyway?







posted on Jan, 1 2015 @ 10:57 PM
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a reply to: xuenchen

Time for some Chemo therapy on the cancer destroying this country?

About GD time!



posted on Jan, 1 2015 @ 11:03 PM
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Getting rid of the federal reserve should be the top of everyone's New Years resolutions!

Banker scum



posted on Jan, 1 2015 @ 11:07 PM
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a reply to: xuenchen


The story seems to be referring to a "policy audit" and not necessarily a financial audit.

Why would some politicians NOT want an audit?

Why would the Fed be lobbying for a NOT audit?



I'd hazard a guess that they do not want their policies put under a microscope for the general public to see.


It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved. Events such as the Great Depression in the 1930s were major factors leading to changes in the system.


The bold parts are the important info.


The term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals.



The Federal Reserve Act of 1913 gave the Federal Reserve authority to set monetary policy in the United States.


This could have something to do with it.



Wiki can be helpful now and then.


edit on 1-1-2015 by CharlieSpeirs because: (no reason given)



posted on Jan, 1 2015 @ 11:14 PM
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So we audit the Fed and confirm what everyone already knows--we're being screwed.

Then, nothing will happen. People don't really care if they're being screwed as long as they get to Skype (or whatever) video of it and win the adulation of their idiot friends. They're far too comfortable with (and dependent on) their current lifestyles to ever seriously consider dealing with the ramifications of restructuring our entire monetary system.

That is, if they even understand what that means. They'll take being screwed over making difficult choices any day. In fact, they'll demand it.



posted on Jan, 1 2015 @ 11:18 PM
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It's a world currency war and the FED is losing their grip. When hyperinflation in the US kicks in, is when the gun vaults will open and all the wall street thugs will be fleeing for their lives. Just wait for more banker suicides in 2015.



posted on Jan, 1 2015 @ 11:21 PM
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I don't think the central banks are the problem but they are being used to facilitate the problem which are commercial banks. They are the ones that pulling in the real cheddar. The Central bank just secures the commercial banks monopoly on money distribution.

I don't know how the US does it but here in Canada, our government borrows money from RBC and CIBC etc. They do not borrow directly from the central bank where the interest would end up in government coffers. Instead the gov. borrows from commercial banks and forks over our money to pay the interest.

Just stamp an government logo on all the banks and be done with it. Everyone keeps their job and the next democratically elected head of state can take responsibility for my opinion on how it operates.

What we have going on is nothing less than a shakedown.



posted on Jan, 1 2015 @ 11:24 PM
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Some background to look over .....



Section 5. Stock Issues; Increase and Decrease of Capital
1. Amount of shares; increase and decrease of capital; surrender and cancellation of stock

The capital stock of each Federal reserve bank shall be divided into shares of $100 each. The outstanding capital stock shall be increased from time to time as member banks increase their capital stock and surplus or as additional banks become members, and may be decreased as member banks reduce their capital stock or surplus or cease to be members. Shares of the capital stock of Federal reserve banks owned by member banks shall not be transferred or hypothecated. When a member bank increases its capital stock or surplus, it shall thereupon subscribe for an additional amount of capital stock of the Federal reserve bank of its district equal to 6 per centum of the said increase, one-half of said subscription to be paid in the manner hereinbefore provided for original subscription, and one-half subject to call of the Board of Governors of the Federal Reserve System. A bank applying for stock in a Federal reserve bank at any time after the organization thereof must subscribe for an amount of the capital stock of the Federal reserve bank equal to 6 per centum of the paid-up capital stock and surplus of said applicant bank, paying therefor its par value plus one-half of 1 per centum a month from the period of the last dividend. When a member bank reduces its capital stock or surplus it shall surrender a proportionate amount of its holdings in the capital stock of said Federal Reserve bank. Any member bank which holds capital stock of a Federal Reserve bank in excess of the amount required on the basis of 6 per centum of its paid-up capital stock and surplus shall surrender such excess stock. When a member bank voluntarily liquidates it shall surrender all of its holdings of the capital stock of said Federal Reserve bank and be released from its stock subscription not previously called. In any such case the shares surrendered shall be canceled and the member bank shall receive in payment therefor, under regulations to be prescribed by the Board of Governors of the Federal Reserve System, a sum equal to its cash-paid subscriptions on the shares surrendered and one-half of 1 per centum a month from the period of the last dividend, not to exceed the book value thereof, less any liability of such member bank to the Federal Reserve bank.

[12 USC 287. As amended by act of Aug. 23, 1935 (49 Stat. 713).]

Federal Reserve Act

 




Is the Federal Reserve System secretly owned and covertly controlled by powerful foreign banking interests? If so, how? These claims, made chiefly by authors Eustace Mullins (1983) and Gary Kah (1991) and repeated by many others, are quite serious because the Fed is the United States central bank and controls U.S. monetary policy. By changing the supply of money in circulation, the Fed influences interest rates, affecting the mortgage payments of millions of families, causing the financial markets to boom or collapse, and prompting the economy to expand or to stumble into recession. Such awesome power presumably would be used to benefit the U.S. economy. Mullins and Kah both argued that the Federal Reserve Bank of New York is owned by foreigners. Although the New York Fed is just one of twelve Federal Reserve banks, controlling it, they claimed, is tantamount to control of the entire System. Foreigners use their command of the New York Fed to manipulate U.S. monetary policy for their own and, as Kah asserted, to further their global political goals, namely the establishment of the sinister New World Order.

This essay examines the accuracy of these claims.

Who owns and controls the Federal Reserve

 




The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide.

The Committee's members come from Argentina, Australia, Belgium, Brazil, Canada, China, European Union, France, Germany, Hong Kong SAR, India, Indonesia, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The present Chairman of the Committee is Mr Stefan Ingves, Governor of Sveriges Riksbank. More...

Basel Committee on Banking Supervision




posted on Jan, 1 2015 @ 11:24 PM
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They are the government, how come they can't just march into to the gold vault at Fort Knox and throw open the doors on live TV? That they won't show us our own gold reserves is the

biggest TELL…



posted on Jan, 1 2015 @ 11:30 PM
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Clearly, if they don't want us knowing what they are doing than most likely they are hiding something. But even if it comes out it will just be swept under the rug and stay the same. .



posted on Jan, 1 2015 @ 11:52 PM
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Wouldn't something like this maybe cause a collapse of the US dollar seeing it is a creation of the federal reserve as a fiat currency ? Auditing their policy may or may not get to who owns it if it's run out of the city state of London .Are the exempt from any internal investigations from other states .Who does the city state of London answer to , Vatican ? These questions only show that some laws or states do not apply .It could end up being a can of worms that are dead . a reply to: xuenchen



posted on Jan, 1 2015 @ 11:57 PM
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a reply to: the2ofusr1

The flutter in Congress may also be just controlled opposition.

They get people all stirred up and end up doing zero.




posted on Jan, 2 2015 @ 12:05 AM
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Well in thinking a bit on this from listening to some of the people that should have a grip say that they have run out of ways to prop the system up any longer .Ellen Brown talks some on what was rubber stampede at the last G20 where is the banks fail again (like in 2008) this time will be a bail in where the banks can secure the moneys from depositors and from our pension plans to have the liquidy they will need after the derivatives markets crash. That might not be far off with the loans secured for the oil industry in loans . a reply to: xuenchen



posted on Jan, 2 2015 @ 02:58 AM
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Here's the problem, and this applies to several industries actually not just the Fed. We bring in regulators from the private sector, the people recruited are often times the best and brightest minds. The problem comes in how regulators are appointed, they only hold their positions for a presidential term or less. When the new president comes in they appoint new people. Those old people now have to go back to their old industry to get a job, and if they caused too many problems while working for the feds, those jobs aren't going to be there. The regulator has an incentive to favor the corporation rather than the people.

In the case of the fed we see this happen all the time as they recruit from Goldman Sachs. Those regulators can't do anything that's negative for Goldman Sachs bottom line because they need to get a job from them in a couple years.

Any honest policy audit will recognize this problem, also not being a financial audit makes the whole thing largely pointless.



posted on Jan, 2 2015 @ 03:51 AM
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a reply to: the2ofusr1


this time will be a bail in where the banks can secure the moneys from depositors and from our pension plans to have the liquidy they will need after the derivatives markets crash.

^^ This...^^
Scary, and quite likely, IMO.



posted on Jan, 2 2015 @ 04:46 AM
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a reply to: xuenchen

New life........All this does is keep the long standing controlled opposition lie going. They will never audit the Fed........Never ever.



They do things like this so the people at the bottom can point and say......Look they are trying to do something. It is a bold face lie for the common man to digest as a sleeping pill from the real truth. The entire system is corrupted with greed and fear.



edit on 2-1-2015 by SubTruth because: (no reason given)

edit on 2-1-2015 by SubTruth because: (no reason given)



posted on Jan, 2 2015 @ 05:36 AM
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a reply to: xuenchen

Hmmm...
With all due respect for the fact that auditing the FED would be a huge domestic issue for the United States... you people seem to forget that this would have *MAJOR* foreign political consequences.

...which is why I doubt it will happen.

Don't get me wrong, I really hope the US will change their monetary policy - for both yours and our sakes... but the ensuing implications would be way to heavy for the US to handle right now, IMHO.



posted on Jan, 2 2015 @ 06:44 AM
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originally posted by: xuenchen

The story goes into some details and mentions the Democrats and republicans have been fighting this and now the Federal Reserve itself is lobbying against the threat of an "audit".




Fixed that for you.



posted on Jan, 2 2015 @ 07:11 AM
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originally posted by: crazyewok

originally posted by: xuenchen

The story goes into some details and mentions the Democrats and republicans have been fighting this and now the Federal Reserve itself is lobbying against the threat of an "audit".




Fixed that for you.

Correct.
Nearly all politicians in DC are guilty of maintaining the status quo.



posted on Jan, 2 2015 @ 10:16 AM
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My only hope is that an audit happens, and the average person is made aware of how money actually works.

We all know that won't happen, though.



It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
-Ford



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