Kelantan launches gold dinar

[shygye]

Then why does the US gov pay INTEREST to the Federal Reserve? where does this interest money go?

Why has the GAO NEVER did an audit on the Federal Reserve?

 

You can believe the misinformation provided by the vested interest group that feed off the Federal Reserve or your can do your research...and yes, the FBI, etc is not in the constitution but it is also NOT part of this thread...and they ARE listed in the phone book blue pages.

 

 

You are the believer of all mis-information!

Link

 

The Board of Governors, the Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review. Under the Federal Banking Agency Audit Act (enacted in 1978 as Public Law 95-320), which authorizes the Comptroller General of the United States to audit the Federal Reserve System, the Government Accountability Office (GAO) has conducted numerous reviews of Federal Reserve activities. In addition, the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board’s Annual Report (before 2002, the reviews were listed in the Board's Annual Report: Budget Review).

 

As to where the interest earned goes,

 

The Federal Reserve's income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions (the rate on which is the so-called discount rate). After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.

 

Read this to burst your conspiracy bubble.

Fed Audits

 

-----------

 

... and the video disproves your point! If the Fed is above all, then why is Greenspan even testifying before Congress.

[rchapstick]

Did we just watch the same clip Cav? Been eating funny mushrooms? Drinking the local moonshine?

[cavanami]

Don't believe the misinformation! Here are the FACTS, no theory required.

 

http://www.ronpaul.com/legislation/audit-the-federal-reserve-hr-1207/

 

Audit the Federal Reserve

 

[color:red]The Federal Reserve is the chief culprit behind the economic crisis[/color]. Its [color:red]unchecked power[/color] to create endless amounts of money out of thin air brought us the boom and bust cycle and causes one financial bubble after another. [color:red]Since the Fed’s creation in 1913 the dollar has lost more than 96% of its value[/color], and by recklessly inflating the money supply the Fed continues to distort interest rates and [color:red]intentionally erodes the value of the dollar[/color].

 

For the past 30 years, Congressman Ron Paul has worked tirelessly to bring much-needed transparency and accountability to the [color:red]secretive bank[/color]. And in 2009 his unfaltering dedication showed astonishing results: [color:red]HR 1207, the bill to audit the Federal Reserve[/color], swept the country and [color:red]made the central bankers shudder[/color] at their desks. The bill passed as an amendment both in the House Financial Services Committee and in the House itself.

 

But the usurpers of America’s future didn’t take it lying down. [color:red]They weren’t about to allow their secrets to be exposed[/color] and their magic money machine to be put under close scrutiny. [color:red]They worked frantically behind the scenes to quietly derail all efforts to open up the Federal Reserve to an independent audit[/color].

 

A handful of Fed-loving U.S. senators led by [color:red]Chris Dodd rewrote the Senate version of the Financial Reform Bill to strip out Ron Paul’s Audit the Fed amendment and actually expand the Fed’s power over banks[/color], lending and money. As Alan Grayson pointed out here, and Ron Paul commented on here, the Dodd bill completely eliminated legislation to audit the Federal Reserve, which already passed in the House....

[acockasian]

Type "Alan Greenspan gold standard" or variations into any search engine. Then contrast what he said years later.

[cavanami]

Point is, the "gang" is spreading misinformation.

The main stream media is full of shit, you can NOT trust them!! They LIE, they do not retract their LIES...this is just ONE example...WAKE UP!!!

 

Example: Desperate Establishment’s Latest Rand Paul Hoax Backfires

 

http://www.infowars.com/desperate-establishments-latest-rand-paul-hoax-backfires/

 

The latest media hoax targeting Kentucky primary winner Rand Paul has exploded in the establishment’s face after a claim that Paul “kidnapped†a woman during a college prank was revealed to be completely mischaracterized, showing once again how desperate the system is to discredit Paul and prevent him from leading a populist revolt against the status quo...

[Old Hippie]

SO where is all the gold that is supposed to be in Ft. Knox? Have the Jews stolen this as well!?

[shygye]

I am glad that you now accept the Fed is an agency of the Federal government.

 

Obviously, you are incapable of accepting that the GAO has done several audits of the Fed. Go look at the annual report instead of believing every hoax of the right-wing nutters.

 

So where will Cav go next? Notice how he keeps jumping around?

 

1) I disproved his "blue page" phonebook proof.

2) I disproved his "US Constitution" proof.

3) I disproved his "GAO audit" proof.

 

Can Cav ever develop critical thinking skills? All of his assertions are so easily disproved in less than 5 minutes. Why is he still a "true believer"?

[cavanami]

Resist DC: Step by Step Plan for Freedom

 

http://www.tenthamendmentcenter.com/2010/07/07/resist-dc-step-by-step-plan-for-freedom/

 

Step 3: Restore Sound and Honest Money

 

The control over the issuance of money is at the heart of sovereignty. Our current fiat paper currency is losing value by the minute and you and I are paying for it by the day. Most readers of this article know that since the Federal Reserve was created in 1913 in order to “provide a safer, more flexible banking and monetary system†and ensure “stability in the purchasing power of the dollar.†Since that time the US dollar has lost 97% of its value. So what can we do at the state level? In order to restore a system of sound money two immediate pieces of legislation can be introduced:

 

1. Sound Money Resolution

 

2. Legal Tender Act

 

The more pressure states put on Congress to audit the Federal Reserve System, the greater the chance is that it will be exposed as a private group of bankers profiteering at public expense and then be phased out. Like the state sovereignty resolutions, the Sound Money Resolution would put the government on notice to return to the original monetary system envisioned by our founders.[iii] This means an end to the fractional reserve banking as we know it and a return to currency that is backed by gold and silver and perhaps even commodities.

 

Dr. Edwin Viera Jr., a constitutional attorney and an expert in monetary theory who has litigated cases involving money issues, has said that the entire present monetary system is unconstitutional. He proposes a precious-metals-based monetary system in which the state government collects part of its tax revenue from corporations in gold. New Hampshire and Indiana, currently have that kind of legislation before them. I would add that the next step should be to establish a private currency exchange in conjunction with a new monetary system. This will be the subject of a future article.

 

Next, states can require the federal government to tender all payments in gold and silver. The U.S. Constitution in Article 1 section 10 clearly states “No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts…â€Â[iv] The practical result of returning to this constitutional requirement will likely be the federal government ceasing to send any money to the states. What an excellent day that would be! This would force states to budget and fix problems themselves without relying on federal handouts. Another benefit will be ensuring state solvency even if the federal government goes bankrupt. Lastly, it calls the bluff of the federal government. You will recall in Part I of the plan the creation of a Federal Tax Escrow Account, which would offset this loss of money. It will become immediately apparent which states send the federal government more money than they receive.

[rchapstick]

 

Dr. Edwin Viera Jr., a constitutional attorney and an expert in monetary theory who has litigated cases involving money issues, has said that the entire present monetary system is unconstitutional. He proposes a precious-metals-based monetary system in which the state government collects part of its tax revenue from corporations in gold.

 

This, pretty much, sums up Cav's sources of "news" ...

 

[acockasian]

Attack the post and not the poster - I would love to hear someone comment on Greenspan and a gold standard.

 

As a nation we have been- and are being - well and truly fucked. I think Colorado has already cut pensions for people already retired. Other states are likely to follow. I hope it is going to improve in the US but have my doubts.