Federal Reserve To Be Given Sweeping New Powers

What a bunch of IDIOTS congress must be: (or their just playing stupid. I chose the latter):

From the same article in the OP:

In order to appease those opposed to the plan, such as Sen. Christopher J. Dodd, chairman of the Committee on Banking, Housing and Urban Affairs, the Obama administration has agreed to create a “watchdog” council of regulators to “advise the Fed”.

However, as former chairman Alan Greenspan has most recently pointed out, given that the Fed is an independent entity, accountable to no one, it will have the power to simply reject and overrule any advice it is offered.

So dumb...

congressman/woman: "Uh...Mr. President. I'm not sure I'm comfortable with all the power you want to give the fed."

President: "Don't worry. We'll just appoint a committee that can give the Fed advice".

Congressman/woman: "OHHHHHH...well that sounds super! Thanks, Mr. President for sealing that up tight for us."

President: "No prop, Bob! I look out for the little guy." *walks off mumbling under his breath--"Not that they have to listen to a damn word you say"**

Congressman/woman: "What was that Mr. President?"

President: "I said 'Have a lovely day!'"

Congressman/woman: "Gee, thanks Mr. President! You too!" **Congressman/woman turns to collegue--"That Mr. President!! What a swell guy, huh? Always concerned about that little people".

ARghhhhh!!!!

Oh good! I was afraid there for a second that we wouldn't be able to give the Fed "advice". I'm just glad that we all have a say in something like this and I'm sure whomever is appointed to that council will be of the utmost integrity. Maybe we should get people like the former CFO's from WorldCom, Enron and the other companies that went bellyup on that board.

I say we're looking at a period of 6 mo - 1 year before a total economic collapse...and that's being generous.

reply to post by tOrnaDo_pHett


I called it first! Man, I hate being right sometimes, but I knew MJ's death was "strategically timed". They sacrificed another god to feed the machine.

Originally posted by leira7
You know what? We treat celebrities like gods, perhaps TPTB are killing them to create some sort of diversion, like a sacrificial ceremony of some sort. Maybe we should check to see what bills are passing in the White House right about now.

Thread I posted in

[edit on 26-6-2009 by leira7]

reply to post by tOrnaDo_pHett


ya i posted a similar thread back on 6-16

www.abovetopsecret.com...
www.abovetopsecret.com...

This country has been a fascist dictatorship for quite some time.

Takes Dumb-A##es a long time to notice....

Pop a beer and flip on the TV while you still can,nevermind worrying about it now.....

You have been ignoring it for too long,most of you..

corporate fascism

we're finished guys

TBH I was begining to wonder why it was taking so long for this to show up on ATS was going to post it myself Alex Jones has been talking about this bill for weeks and no-one was noticing.. now its too late the bill is passed.

Edit: This is the criminal world banking cartel starting to openly rule, slowly but surely they will openly rule the NWO

[edit on 26-6-2009 by Bachfin]

Originally posted by IthinkIbelieve
reply to post by zorkthegreat

 

Silly man, I live in Denmark, know that country? In case you dont, we too have social security, free education etc. I DO HOWEVER have foresight enough to know that whatever befalls America comes back to haunt the rest of the world at some other time.

Your a Dane and we all know Danes cannot think and cannot live without their rules and follow them blindly

reply to post by zorkthegreat


You win, I bite down hard on your trollbait. Now please, go take your unconstructive ranting somewhere else.

This is hogwash. We do not need an unaccountable tyranny overseeing all business in the United States. We already have a regulatory body that has the authority and power to oversee business and ensure there is no funny business going on.

The best protection is a working regulatory institution.

While bush was in office, he installed more than 100 top officials who were once lobbyists, attorneys or spokespeople for the industries they oversee, which is a bit like assigning the fox to guard the hen house.

To add fuel to the fire, the SEC was filled with men of such unfathomable incompetence, they did not notice Bernard Madoff's Ponzi scheme after receiving detailed reports for nearly 10 years outlining ever detail of illegal activity.

Describing them thusly:

a group of 3,500 chickens tasked to chase down and catch foxes which are faster, stronger and smarter than they are…As currently staffed, the SEC would have trouble finding first base at Fenway Park if seated in the Red Sox dugout and given an afternoon to find it.

Then, Bush decided to remove the Uptick Rule, which made it possible for speculators and the arbitrageurs (remember them?) to literally send a company into bankruptcy using the open market, or at the very least, scare the hell out of everyone by causing the stock price to drop just a few pennies above zero.

Starting to get the picture of what's going on here?

Wait, there's more:

In 1999, Bill Clinton Signed into law the Gramm-Leach-Bliley Act, allowing mega corporations, wielding ungodly sums of money, to merge together and begin speculating in the derivatives and OTC market. It also made the now famous credit default swaps legally impossible to regulate.

Adding to the volatility of the market, oil prices were soaring to never before imagined heights, due mostly to the speculative activities of institutions fomenting higher prices with their 10s of billions of capital and low margin requirements:

world consumption of oil at 87 million bpd was far exceeded by the "paper market" for oil, which equals about 1.36 billion bpd, or more than 15 times the actual market demand.
www.reuters.com...

A study of the oil market by Masters Capital Management was released which claimed that speculation did significantly impact the market. The study stated that over $60 billion was invested in oil during the first 6 months of 2008, helping drive the price per barrel from $95 to $147 per barrel, and that by the beginning of September, $39 billion had been withdrawn by speculators, causing prices to fall.
www.thetimesonline.com...

And that's not even the half of it, but the rest, as they say, is history.
Here we are, slumped over, bailing out the very institutions that caused this mess

www.abovetopsecret.com...


Regulations are extremely important, but the Fed being the ultimate arbiter is not a good idea, in my opinion.

Lets get back to making the SEC work, and getting congress to stop this disastrous experiment called "deregulation" as embraced by Reagonomics.

The unregulated free market crashed the world economy and cost tax payers (in the us alone) well over a trillion dollars. That's not even counting the misery and financial duress the banks have recently levied on Americans in the form of usurious interest rates and unavoidable penalties in order to recoup the losses.

True Capitalism and hte real America was assassinated the same day as JFK. Every President and politician since JFK has been corrupt and on the Banks' payroll.
WW3 is coming, its in their plans.


Posted Via ATS Mobile: m.abovetopsecret.com

Originally posted by IthinkIbelieve
reply to post by zorkthegreat

 

You win, I bite down hard on your trollbait. Now please, go take your unconstructive ranting somewhere else.

And not to mention Copenhagen has the most amount of drunks and dog excrement on cycle paths and footpaths by dirty dog owners, usually by those clueless fashion want to be's that wear the same clothes and shop in Magazine du nord because there is just no shopping choice there.

[edit on 27-6-2009 by zorkthegreat]

reply to post by zorkthegreat


You are being ridiculous now, whatever in the world does that have to do with anything? And to be quite fair, Copenhagen ranks highly compared to other international cities, take a look:

#1 It was ranked #1 as Most Livable City in the World by international lifestyle magazine Monocle on their Top 25 Most Livable Cities 2008 list[115]
#2 Worlds Best Design City 2008 also by Monocle.[115]
#3 Copenhagen ranked #4 by Financial Times-owned FDi magazine on their list of Top50 European Cities of the Future after London, Paris and Berlin.[73] In 2006/07 FDi Magazine named Copenhagen Scandinavian City of the Future[74] and in 2004/05 Copenhagen was named Northern European City of the Future ahead of other cities from Scandinavia, UK, Ireland and Benelux.[75]
#4 In the 2008 Worldwide Centers of Commerce Index, published by MasterCard, Copenhagen was ranked 14th in the world and 1st in Scandinavia.[76]
#5 Copenhagen #1 out of 254 locations in the Location Ranking Survey performed by ECA International that has asked European experts where they prefer to be stationed worldwide.[116]
#6 It was ranked #6 in Grist Magazine's "15 Green Cities" list in 2007 making Copenhagen the greenest capital of Scandinavia according to Grist Magazine.[117]
#7 It is the capital in the world where organic food has the largest market share. One in every ten purchases is organic in Copenhagen.[118]
#8 The Copenhagen Metro has been named the Best Metro in the World by industry experts.[107]
#9 It is the worlds #7 most expensive city and #3 most expensive in Europe on the Forbes List.[119]
#10 It is ranked #7 as Preferred City For Investment Projects.[120]
#11 It ranked 3rd in Western Europe in terms of attracting regional headquarters and distribution centers, only surpassed by London and Paris.[77]
#12 It ranks #1 in the Global Earning Ranking.[121]
#13 The city ranks as the 5th most popular city in the world for international meetings and conferences.[122]
#14 It ranks as one of the most attractive cities to live and work in Europe.[123]
#15 It is ranked 11th in Mercer's Quality of Living global city rankings 2009.[124]
#16 Lonely Planet ranks Copenhagen as Scandinavia's ' coolest ' capital

en.wikipedia.org...

But you're just looking to derail this thread aren't you?

The Federal Reserve has always been above jurisdiction.
The core of 12 is a global one.
I think that everyone should take the time to read Wikipedia's article on the FRS...click on the 12 and read a few bios and profiles.

Here is your TPTB in a nice, neat, tidy and readily available nutshell. The divested interests of them all tie into every conspiracy and act of greed ever mentioned, anywhere!!!

Make yourself another cup of coffee or tea and just read:

en.wikipedia.org...

that is until you feel like you're exploding!!!!

I really want to post this on every money/power/government/control thread here..
and just may do so.

Peace....

reply to post by tOrnaDo_pHett


Erm... this war on you website is attempting to quote the original article from the Washington Times, but the wording seems to have gotten changed just a bit on the process.

From:

regulate any company whose failure could endanger the U.S. economy

to:

any company whose activity...

Not quite the same thing is it?

Kind regards, M.

Originally posted by tOrnaDo_pHett
i think that michael jackson was killed, with demerol, as a means to distract us from just this very news.
every time brittney spears shaves her head, lindsey lohan gets a dui or something like that is considered the top "news" story of the day,
i say to myself "what are they distracting us from?"
and i turn to page 19 or 20 to see how we're being raped of our rights behind the curtains.
read this thread.
follow the links.
it adds up.
www.abovetopsecret.com...
micheal was murdered.

this is a tad off topic, but there's a book on amazon called 'the michael jackson conspiracy' written by a journalist who was covering his trial and wasnt happy with the way the mainstream media were reporting on him. havent read it myself, but thought someone might be interested.

Originally posted by leira7
reply to post by tOrnaDo_pHett

 

I called it first! Man, I hate being right sometimes, but I knew MJ's death was "strategically timed". They sacrificed another god to feed the machine.

Originally posted by leira7
You know what? We treat celebrities like gods, perhaps TPTB are killing them to create some sort of diversion, like a sacrificial ceremony of some sort. Maybe we should check to see what bills are passing in the White House right about now.

Thread I posted in

[edit on 26-6-2009 by leira7]

yeah, i did notice too - first 'the king' ; now another king 'the king of pop'... is it some sort of secret society ritual - the killing of the king or something? (they do have teh technology to induce a heart attack in someone from a distance, i hear..)

also i reckon someone high up may have had something to do with john lennon's death.. the guy was singing songs to try to bring good into the world - like 'imagine'... stands to reason he was killed?

Excellent video, quick download before it's removed.

It is 3.5 hours but worth the viewing and consideration.


video.google.com...

reply to post by seasoul


The head of google has been at the last 2 billderberg meetings... don't worry about google it's doing what they want it to do.