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Fed warns on Congressional scrutiny

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posted on Jul, 10 2009 @ 07:58 PM

Originally posted by ModernAcademia

Originally posted by ProtoplasmicTraveler
Well Warren my friend, it's like I mused to the cashier at the Supermarket earlier this afternoon as I provided the legal tender for one Italian Submarine Sandwich and one pack of cigarettes...

"Hey these bailouts sure are working aren't they...only 15.00 for a sandwich and a pack of smokes!"

You thik so?
I mean here you are buying poison for what $10 or so during an economic crisis.

Let me ask you, how much money did you spend in the last quarter on smokes?

I mean I don't feel i'm going off-topic here
Informed people themselves aren't even saving during an economic crisis, but not only that they are buying cigarettes.

Are tobacco companies better than big pharma?
No? Than it's time to reasess

I just mean, if informed people haven't reach their point of no return how can you expect unimformed people to>

Yes yes, you don't care
You want your freedom to smoke
big. govt. can't take that away from u
ya ya
but that's not at all the point
imagine people now living in tent cities because of foreclosures
What would people with such smoking habits think in hindsight?

I have a few vices in the world, very few, just sex, drugs, rock and roll, and cigarrettes oh and gambling of course, ok so more than a few...

Life is after all a human experience and I don't buy into the scarcity paradigm.

At the start of the economic crisis (officially) last September a pack of cigarettes at my local super market was 4.17 with tax (I usually buy them cheaper at bulk outlets but on occassion get them at the supermarket for convenience sake) today after 9 months and 3 seperate tax increases that same pack of cigarettes at the supermarket is 7.33 the submarine sandwich was 7.43.

The joke of course between I an the cashier (who also smokes) is that she and I are both 'young' enough to remember when the cigarettes would have cost .35 that's right thirty five cents and the sandwich would have cost .99, that's right ninety nine cents and the transaction would have cost 1.50 versus 15.00.

Yes you too can see 1,000 percent inflation in your lifetime, and you my friend may have as well in yours.

Now the actual cost to a retailer for a pack of cigarrettes is about 1.70 and the rest is all tax. Increasingly the state and Federal Government are looking too people with vices to pay for the short falls in their fiscal and economic planning.

It's a double edged sword though because they are causing some people to have to give up their vices and I am sure if there is a G-d this is something that they certainly will go to heaven for, which I have on good authority is no where near as fun as Hell and has no casinos, bars or ciggarettes let alone race tracks and nude jello wrestling contests...Hell on the other hand, is reputed to be a fun place with not only a lovely tropical climate but ammenities to die for!

States are desperate to raise cash now through any means they can, speeding tickets, zoning violations, code violations, parking violations, I voted for that idiot violations etc., etc., etc.

In many ways Americans have helped kill their own economy by seeking out alternatively either foreign goods they percieve have a higher quality than domestic ones (Toyotas and Hondas verus Chevys and Fords) or cheaper than American goods but of lesser quality (every last little thing on the shelves at Wal-Mart). They have bought into the emotional jealousy appeal of the big corporations to villianize union workers that make a living wage to help the big corporations break up the unions and keep ALL workers from making a living wage, and bought into the foolish notion that some workers make 'too much' instead of realizing they themselves make 'too little'. They eat where they know illegal aliens make up a fair portion of the staff, they buy new homes that they know illegal aliens worked the construction jobs for less and the electician jobs for less that union workers would, they cross picket lines where union workers have tried to stem the tide, they are like the proverbial Las Vegas vacationer who might as well just send their paycheck to Vegas stay home and get some rest instead because they are such terrible gamblers only in this case they should have just sent their paychecks to China and America they do this to 'punish' the few American businesses that still manufacture in America for either not being inexpensive enough in their pricing or not making as nice a product in their eyes even though they often base that on assumption and word of mouth not actual critical comparisons.

The average citizen who can't understand what a critical part they play in the economy and could play in the economy simply chalks their own foolishness up to the Government not preventing them from doing this even while they complain the Government mettles in to many things already and for American businesses that still do struggle to make products here who don't understand their insatiable need to buy things as innexpensively as possible from companies and countries that have a much cheaper labor pool and much cheaper raw materials and usually much lesser quality standards, warranties, customer service and gaurantees too.

The citizen is as responsible for the mess the country is in as the government lets face it the government really is just an extension of the people who elect and live in that nation. We decry illegal aliens but tolerate them when it saves us a buck, gets our lawn mowed cheaper or the rolls and water to the table faster. We decry our corporations for exporting jobs but will buy from them anyway once they do. We decry the banks for extending too much credit but borrow too much to finance a lifestyle that we don't demand a living wage for our labors and live in fear of loosing our job and make do.

In reality I don't do any of those foolish things, it's Virginia Cigarettes I am buying, grown and made in America, and the high Taxes most of which go to the State of Florida and some of which go to the Federal Government are the only form of taxes I pay...over the counter sales taxes, and I wouldn't pay those if I don't have to and often look for ways not too.

I ride my bicycle everywhere now to avoid paying gasoline taxes, and I usually buy my cigarrettes at the nearby Indian Reservation in bulk to avoid Federal and State taxes on those.

Sure I still do a few harmful things and I look for ways to correct them but the reality is few people will even consider how they earn and spend their money could be harmful to America and the economy let alone look for ways to correct it.

I like to smoke, I don't buy into this idea that we all must suffer now, I think if people stopped buying into the idea we wouldn't be suffering so much.

Government can't do it all, in fact it already does too much and costs too much, they love to try to legislate political correctness and Christian right wing morallity but you will never, ever, see them try to legislate now use common sense.

Sadly neither do most Americans and that's really why we are in such a G-d awful mess.

Our forefathers would have started another revolution over the Federal Reserve, if not that the National Security Act, if not that the Patriot Act, we have turned into a nation of retarded whiners, complainers and hypocrites who just love being lazy and stupid and passing the buck and blaming everyone and everything for the things we did to ourselves.

Government can't stop that, not even Ron Paul, and if you listen to Ron Paul the reason most people who aren't Ron Paul fans think he is a nut, is because every word out of his mouth is something all to uncommon and foeign to most people now's called common sense!

posted on Jul, 10 2009 @ 08:04 PM
everyone, nevermind just congress, should have the fed under scrutiny. buncha smoke-and-mirror thieving connivers. betcha our cowardly congress backs off too. i'd say write and make noise but i no longer believe it either helps or matters. 96% of congress is being bought off or blackmailed. bet on that too.

posted on Jul, 10 2009 @ 09:27 PM
The truth can only serve to hurt a thieve and a liar, and help the victims of such behavior (the general public.) If the Fed were honest, then it should have nothing to hide, but we all know that the Fed is a fraud.

posted on Jul, 10 2009 @ 10:19 PM
Do you really think A Libertarian will set up a better system. Libertarians still believe in silly fairy tales like "the invisible hand" of the economy. It is really sad that the only person standing up against this crap (Federal Reserve) is the kind of person in the past who would have been fully in support of it. You people are being duped into thinking the most right wing party possible is on your side.... wake up sheeple Ron Paul and his corporate backers would eat you for dinner.

[edit on 10-7-2009 by Mumbotron]

posted on Jul, 10 2009 @ 10:29 PM

Originally posted by ProtoplasmicTraveler
There is no doubt that auditing the Fed is going to end up hurting the economy.

That is no reason in and of itself for not auditing the Fed.

First of all since the Fed creates Fiat Instrument of Debt Currency out of thin air, how the heck do you audit that?

That’s like trying to get Tinker Bell to confess just how many wishes and spells she is capable of and has in her.
(She has told me 642, frankly I think she is lying though, she was turns out after waterboarding the strumpet it was 917)

Now like Don Corleone the Fed has some powerful friends, the Bank of England, the Chinese Reserve Bank just to name a few. Of course Don Corleone owns them all too including the Fed but they all pretend to operate independently instead of as the extortion and blackmail ring that they do operate as.

So you can look for our Trading Partners and Investors to use the other Reserve Banks to ‘punish’ us for the temerity of actually taking the time to investigate just how dishonest our dishonest system is.

Ultimately what the Fed has done in collusion with the other Reserve Banks of other Nations around the world is create an illusionary system that, well as I said, how do you audit and illusion.

Ultimately what they have done is build a house of cards, or a better metaphor would be a garage to park the world in. Pull out one card (the Fed) and the whole illusionary structure tumbles down.

It will cause the collapse of the illusionary financial markets, it will cause a rush on gold, it will cause the prices of commodities to skyrocket, and inflation to go through the roof, it will likely lead to chaos, rioting in the street, food shortages, gas shortages and anarchy not just here in America but throughout the world, and those are just the positive things that will come out of it, wait until you hear the bad things…

I hear the Fed is getting a new theme song courtesy of the Rolling Stones “Don’t play with me, because you are playing with fire”.

Of course I loved Def Leppards Pyromania Album!

[edit on 10/7/09 by ProtoplasmicTraveler]

You're right about the collapse of the illusionary financial market, but I think that the collapse is going to happen regardless if we audit the fed or not. Auditing it would just bring about that collapse quicker than if we just let the system crash on its own like we're doing now. So we're in for some tough times either way, but who's to say that the collapse will necessarily be a bad thing in the long run. If the right people really step up after the collapse happens and we remove the people that are raping our futures and our kids futures, there may be hope for humanity yet. I hope this audit actually happens so that the public can finally see that the people who claim they're working for the best interest of the public are seen for who they truly are. If we just let this continue, then TPTB could spin the collapse in their favor through the media and the people lose again and we just let them continue raping us by setting up another system that will allow them to stay in power and leave the people without any representation. A lot of people wouldn't even think twice about it. The tipping point is coming, but we can decide what happens after it's over and rebuild society the way it should be.

posted on Jul, 10 2009 @ 10:34 PM

Originally posted by daddyroo45
I will be glad when the house of cards does fall. We need a new system that would lend itself to actual value. Thermal units or caloric units would be good standard basics to build a new "monetary" system upon. They would be hard pressed to create derivatives from British Thermal Units or Caloric units.

Hey daddyroo45;
That is the point they want us to be so fed up with the stress of the economy that we are willing to or even begging for a change. Thus we will gladly except a new "monetary" system without question.

posted on Jul, 10 2009 @ 10:58 PM
The Fed pretty much just admitted is that they are full of fraud and such. If they were not, then they wouldn't have any problem opening the things up.

It will hurt the economy because the true value of the dollar will be shown. I noticed it says it will give them trouble "servicing the debt". Thats because they won't be able to keep shipping it off to other nations as a way of keeping the inflation down.

You think the inflation we have now is bad, we'd been like argentina years ago if not for the dollar becoming the worlds currency and being able to ship that debt/inflation overseas.

posted on Jul, 10 2009 @ 11:00 PM
The Federal Reserve must be audited if the 'people' are to rediscover they are to be.

The Federal Reserve is but one component of the system of which has controlled your lives more than you could imagine.

If you want to move forward as a people, currently divided and conquered (worldwide), this must be done.

Too much to say here on this topic though I still have faith in humanity to make the right decisions to bring about a more wholesome future where one may see the Brother in the other. You have been divided and conquered long enough.

You know what I say. You feel what I mean.
Good luck?
Make it happen.
You will be 'shocked' at the results....provided that the results come from impartial auditors.

Freedom is not free.
It must be earned.

posted on Jul, 10 2009 @ 11:05 PM
I thought this came up a week or two back? I believe I mentioned a serious of posts are perhaps related? The one on embassys stocking up on foreign currency for example. Perhaps there is a show down coming and the government is bracing itself for it. Hopefully people with "power" are beginning to realize that this mob is at war with the United States and humanity and like any opposing army, it should be destroyed as such irregardless of "national boundaries" regarding it's locations.

posted on Jul, 10 2009 @ 11:51 PM
reply to post by ModernAcademia

The Federal Reserve is not a part of the US Govt. It is a privately owned company, therefore it should be held to the same standards as any other business, including being audited by the IRS for its "discrepencies". And how in the world would it being audited affect world money markets? They are fear mongering, hoping that the government will fall for this tactic and not do anything.

posted on Jul, 11 2009 @ 01:57 AM
Audit the fed, support truth.

And when the bill gets through, and they finally do it, maybe as soon as this Fall, and the economy "crashes" like they say, who are the masses going to blame? The ones who supported the bill that crashed the system?

Support truth, become the domestic threat.

posted on Jul, 11 2009 @ 02:08 AM
Sounds like extortion to me. Anyone else?

posted on Jul, 11 2009 @ 02:27 AM
the problem is not its independence. it is too protected and too independent. unfortunately, it is actually way to late to change those. The audit would unstabilize the entire world for 2 decades max. after that, everything will be back to normal but everyone will hate the person that suggested it; the by then dead ron paul. I think he can handle it. The only person from Texas that i would want to talk to for more than 15 seconds.

By the way. His part in bruno was one of the only funny parts

posted on Jul, 11 2009 @ 02:37 AM
reply to post by ProtoplasmicTraveler

The only thing I would have to say to you is buy your food at a grocery store where it is much cheaper if you dont live out in the boonies and drugs are going to be the first thing tax'd no matter what.

You shouldn't complain about high cig prcies too just because of your personal addiction. Many countries are much worse, and just think of that 5 dollar pack of cigs could prob. feed 10 starving kids in xxxx country at least for one day.

I have a million and one vices as well lol, unfortunately as well mine are more than 7.99, but I do put in the work for them I guess, because if you like things that cost money, of course you do what you gotta do to get them. but "death and taxes" is the sad reality

posted on Jul, 11 2009 @ 02:48 AM
The 'argument' that auditing the Fed might cause some sort of collapse is not an argument, its a threat. And a silly one at that. Its like saying you shouldnt operate and remove a malignant tumour because it might hurt a lot, or you shouldnt stand up to a bully because he might pound your face.

Free peoples should be outraged.

posted on Jul, 11 2009 @ 02:56 AM
While I can see why there would be many concerned right now I am on the other side.

For central banks to start showing their hands is not a good thing.

This gives speculators, institutional players, HF's, BDealers an immediate unfair advantage as well as totally destroying whatever plays we have up our sleeve.

If we show our cards, someone else with a dominate hand will short us out, they dont even have to do that. It is well known in the marketplace when something is public knowledge, any edge had will totally evaporate.

If this is what you want right now for our country, that is fine. You are prob. looking for the USA to start over. I am in the camp of riding this ship out, a bumpy ride yes.

posted on Jul, 11 2009 @ 02:58 AM

Originally posted by ModernAcademia

”I would hope that the Congress might think about whether there are ways of strengthening the Federal Reserve’s commitment to consumer regulation as an alternative to creating a new regulator,” he said.


The article says that the FED is saying that an audit would hurt the markets. What does that mean?
Truth is anti good economy?

Lol, is that even an argument?

I'm glad though, this audit the fed is gaining more and more support. I'm so surprised I must say!

The below videos are all from today!

Go Audits GO!!!!!!!!!

I am the only one surprised that it gathered this much steam here?
(visit the link for the full news article)

Don't be so quick. What they are saying is if you don't stop with all of this talk about auditing and probing the Federal Reserve they are going to collapse our economy so bad that it will impact future generations immensely. Your children and your children's children will just be the first of the recipients of destitution and indigence. Considering they have been in operation since 1913 and have been gunning for and owning our economy ever since there was an economy.....all they have to do is call in all debts and just stop the flow of pecuniary circulation and they will do it. They have many times before, but now they are closer than ever to world-wide slavery and they will make this one hurt.

posted on Jul, 11 2009 @ 03:04 AM
I dont know much about the US legal system, but in Australia if the Govt wants to hold an inquiry into something it is rarely open slather for the investigators. The inquiry will be set up with 'terms of reference' within which the investigation must remain.

This serves two purposes: It looks like the Govt. is actually doing something to address the issue; and, it keeps the investigation away from the really incriminating stuff they dont want to see the light of day.

At the end of the day, it is a very brave, or very foolish Government that holds an inquiry for which they dont already know the outcome.

Would it be cynical of me to think that if the US Govt. found itself folding to pressure to audit the Fed. a similar limited type of investigation would be the result.

posted on Jul, 11 2009 @ 03:06 AM
what we should really do is further investigate and audit every player in congress and see what we come up with under the mattress..

posted on Jul, 11 2009 @ 03:27 AM
reply to post by GreenBicMan

When attempting to uproot an alien and hostile plant from the garden, it is necessary to go to the root of the invader and yank it up, not prune its leaves back a bit.

An audit of congress would just lead back to the fed anyways, so lets skip the bull and go strait to the source.

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