Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism

Cryptogon.com
Sunday, September 27, 2009

Some people may not like my headline. I don’t care. Make up your own headline, if you like. Call it whatever you want.

Barney Frank doesn’t want to rock the boat. Oh no. Appearances need to be maintained on the Ship of Fools.

Well, the only thing that’s certain is that the Ship of Fools is headed for oblivion. What’s not clear is how much time remains on the journey.

Via: Bloomberg:

Federal Reserve General Counsel Scott Alvarez said audits of monetary policy by the U.S. Congress could lead to higher interest rates and reduced confidence in central bank policy.

Congressional audits of monetary policy could “cause the markets and the public to lose confidence in the independence of the judgments of the Federal Reserve,” Alvarez told the House Financial Services Committee today in response to a question from Representative Dennis Moore, a Kansas Democrat. Alvarez said in his prepared remarks the audits would probably “chill” the central bank’s discussions on interest rates.

Fed Chairman Ben S. Bernanke and his colleagues are trying to persuade lawmakers not to pass legislation sponsored by Representative Ron Paul of Texas that would repeal the central bank’s immunity to audits of monetary policy. Fed officials used emergency powers to protect creditors of Bear Stearns Cos. and American International Group Inc. during the financial crisis, prompting congressional scrutiny.

“We don’t want to give the rest of the world or, more important, domestic investors the impression that we are somehow in a formal way injecting Congress into the setting of monetary policy,” said Representative Barney Frank, a Massachusetts Democrat and chairman of the committee. “That could have a very destabilizing effect.”

Frank added that “a lot needs to be done” on Fed transparency and said that Congress can accomplish that without interfering with the independence of monetary policy decisions.

http://www.prisonplanet.com/federal-rese...orism.html

Representative Frank is the idiot here. All Mr. Alvarez said is that if the Fed is subject to audit then interest rates may rise. I interpret that as saying if the Fed cannot manipulate interest rates to favor their friends then interest rates may rise. One would have to believe that if the free market was setting rates right now they would be higher than the .25% set by the Fed. Let the free market decide, Barney!

(09-27-2009 11:26 PM)Volitzer Wrote:  Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism

Your headline may be more accurate than you think. The Federal Reserve (this being the fourth central bank in our country's history) has a long record of causing economic problems in order to get what they want or avoid what they don't want.

Take a look at the struggle between Andrew Jackson and Nicholas Biddle in the early nineteenth century. Biddle, who was in charge of the central bank, brought on economic horror to the American people because Jackson believed in sound money (not the fiat money and perpetual debt the banks push) and he (Jackson) fought to remove their charter to operate as a central bank. Jackson won that one, but in 1913 the creature was resurrected as the Federal Reserve.

Every recession or depression that America has endured has been at the hands of the central bankers and they won't hesitate to do it again. They need to be abolished and possibly prosecuted.

(09-28-2009 06:29 AM)NewFederalist Wrote:  Let the free market decide, Barney!

What? And encourage competition? How dare you! Competition is a sin!

If you had it your way, you would be putting us on a gold/silver standard so the bankers will no longer be able to manipulate the rates. I suppose you will soon end fractional reserve banking. What is next might I ask? Expecting the president and congress to take a pay cut just like the tax payer?

Next you will be telling us that inflation is just another form of taxation!

Shame on you for thinking for yourself. How dare you!

Bottom line is: it needs to be audited.

Congress brought in the Fed Reserve, they can get rid of it as well!

"Every recession or depression that America has endured has been at the hands of the central bankers and they won't hesitate to do it again. They need to be abolished and possibly prosecuted."


Rescue American Jobs was a pretty big deal when it first came out and I posted there regularly. And one thing I noticed there is that you could write the central banking theory down in the simplest of ways and people who suffered under it would argue with you. It is frustrating trying to get people to see the snake wrapped around their throats.

People still think that inflation is the enemy and as long as their wages keep up with it (that is impossible) they are happy. As long as those who are one rung up the latter get punished, they are satisfied. But that is one of the jobs of the "banking cartel/government partner" is to keep the public fooled! It is like the Patriot act, wrap and American flag around it and the public will fall for it.

America is going into receivership and the Fed is happy with that. They are ready to hand us over to a world bank that will do an even better job of keeping us under this financial tyranny. Slavery is the most efficient form of labor there is. We are to become slaves of the New World Order.

Kissinger* has been honest in telling us where we are headed because he can afford to be honest: no one will listen! We keep hearing about the bold American who will not put up with this and will fight back. Henry knows better than this, he knows we will most likely fall without a whimper as long as the American youth have a nice brown shirt to wear, they will be happy sending their brothers and sisters to a labor camp. He has seen this before. Countries are easy to topple when the population is starving! Ask Adolf, he knows.

*Henry Alfred Kissinger (born May 27, 1923) pronounced, is a German-born American political scientist, diplomat, and winner of the Nobel Peace Prize. He served as National Security Adviser and later concurrently as Secretary of State in the Nixon Administration.

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(10-03-2009 07:35 AM)Detmurds Wrote:  Bottom line is: it needs to be audited.

And it will be. Right after the Federal Reserve selects the auditors. That is the next link in the chain, that is when we see how serious Congress is about the audit.

I suspect they will try to use an auditor that is owned by one of the banking cartels members. Just like the media that is owned by the cartel will be reporting on the cartel.