Military Review

Audit or liquidation of the Fed?

27
When discussing the American economy, you regularly come across arguments that it will soon come to an end.

Such alarmist judgments, of course, have a right to exist. True, more often they all are based on well-established delusions and myths that do not have an objective basis. For example, there is an opinion that the government regularly lowers macrostatistics in order not to give information about the real state of things to come to the surface. There is still a rumor that the stock market is fully controlled by the Federal Reserve. Similar storiesOf course, they get a big response, but the evidence base is not always enough to argue with confidence that this is the case.

Discussions about the Federal Reserve Law and about the establishment of the Fed itself existed even before its adoption. Some of the questions that are being discussed are: whether Congress has the constitutional power to delegate its authority to money in a coin form or to issue paper money, whether the Fed is a cartel of private banks founded to protect the interests of several powerful financiers, whether the Fed has directed the increase in the severity (severity) of the Great Depression in 1930-x and the World Financial Crisis 2008-2011 through manipulation of discount rates.

The fact is that the Fed's discount rate has a strong influence on the US and world economy, mainly on the stock market. The decrease in the discount rate affects the bank reserves similarly to purchases of federal government securities on the open market, causing a multiplicative expansion of deposits.

Naturally, the increase in interest rates causes the opposite phenomena in the economic system to come to life, reducing the volume of loans and reserve deposits.
Audit or liquidation of the Fed?

This is how Alan Greenspan explains the historical interest rate change at the start of 2000's:

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The housing boom saved the economy by hiding the problem of manipulating budgetary procedures. Having played enough on the stock market, the Americans staged an orgy on the real estate market. Of course, any boom creates soap bubbles. Several million American citizens, having overestimated their capabilities, began to buy houses on credit, and then they could not pay for them. As a result, the stock market collapsed, avalanche defaults on consumer loans and mortgages flooded, old bank houses colorfully collapsed, the American auto industry staggered, and on the horizon stagnation of the economy, curtailment of production, a radical revision of existing international trade relations and inflation of the global system-forming currency loomed.

However, after this, the next reasonable question inevitably arises, why did such a volume of obligations arise? And here more and more critics blame banking companies that have taken control of the state treasury. Unfortunately, enlightenment comes only when the arrow on the “barometer” of public debt passes into the “red zone” and these countries no longer have the opportunity to get out on their own.

At the end of June 2012, the American media actively began to discuss the initiative of the Congressman-Republican Ron Paul to understand the situation with the Fed and the US national debt.

Frankly a conservative Republican, a member of the tea party movement, Ron Paul has been accusing the central bank of many of the country's fundamental economic problems for many years. Throughout his congressman’s career, the former presidential candidate has advocated taking measures to limit the Fed’s influence and increase its transparency.

Despite the fact that Paul is confident in reducing the purchasing power of the dollar in the long term as a result of inflation and due to the insecurity of the national currency, he does not call for a return to the gold standard - many times in the past attributed to him by the government - by proposing to abolish the law on payment instruments in return and remove the tax on the sale of gold and silver, so that the market can decide for itself which monetary systems to use.

25 July 2012 - the day of sensational voting by the House of Representatives in support of the Federal Reserve Audit Act (Audit the Fed Bill): 327 congressmen voted in favor, 98 opposed. And although the politician expects the law to surely die in the Senate, despite the expected support of more than 270 senators, he has hope that this will not be the death of his initiative.

According to the law of the Federal Reserve, the Fed's annual report to the US House of Representatives of the Congress twice a year - before the Banking Committee of the US Congress. The activities of the Fed's banks at least once a year undergo an audit of the United States Accounts Chamber (Government Accounting Office), or large independent audit firms at the national level. Ron Paul is not satisfied that there is no audit of central bank policy decisions. Congressional voting extends the financial audit of the Fed to political.

Since 1999, Paul has consistently submitted to Congress a bill to eliminate the federal reserve system for twelve months. The Federal Reserve Act states that “the term of the charter is set by the maximum allowable law”. The law provides for the maximum period allowed for any lease only for 99 years! And this provision, illuminated by the precedent, cannot annul any Congress by any decision of its own. According to the Law, the Federal Reserve System can also be liquidated ahead of time by the decision of Congress in the event that the Fed violates the law.

The basis of the romano-German law at the heart of any court decision is "written law." At the heart of the Anglo-Saxon common law, which America inherited from Britain, is stare decisis, which is nearly a thousand years old (since the reign of Henry II). Stare decisis is a legal provision that obliges judges to follow the precedent set by the verdicts of past periods. Once the precedent achieves the supreme court level (in the US - Federal Court) and is supported on it, it becomes binding on all courts without exception and can not be canceled, modified or bypassed. As in business practice period of 99 years is considered to be the maximum allowed for any lease (including the state), it automatically applies to charter the Fed! What is the basis of this statement? On the precedents that were confirmed at the highest - federal - level countless times in court decisions in the XIX century!

The idea that the great and mighty Federal Reserve, which serves as the Central Bank of the United States of America, is in fact, in form, and in terms of legal content, a private company, did not want to fit into the heads of ordinary people. How many have written, how many have tried to bring home to the public the wildness and the enormity of the situation with the Federal Reserve honest politicians, journalists and academics - all in an empty! The people completely refused to believe in the possibility of the impossible: after all, the US Constitution says in black and white: the inalienable right to print money belongs only to the people and the Congress chosen by it, but it turns out that 99 years ago this right was usurped and leased to a private company.

It seems that today we have come close to the moment of truth. It is clear:

- first, the situation with the national debt finally and irrevocably out of control,

- secondly, the possibilities of the Federal Reserve for the financial regulation of the economy through the manipulation of interest rate and quantitative easing have been fully exhausted;

- Thirdly, 21 December expires on the 99-year chart and to extend the powers of the Fed will require a majority of votes in Congress, the Senate, plus three quarters of the votes from the legislators of each of the 50 states.

Is it possible for Bernanke and the company to receive such support in the legislative bodies of America in a situation where the country has brought the Fed to complete bankruptcy?

The demarche of Ron Paul is all the more incredible because the facts of the unprecedented violation of all conceivable and inconceivable constitutional norms by the Fed have accumulated an uncountable amount of history, but all of them always remained not without punishment, but without proper investigation.

Here, for example, the facts from the freshest dossier: for three years, the news agency Bloomberg News waged a fierce struggle, demanding to give publicity to secret transactions of the Federal Reserve in the framework of the so-called “discount window”. Bloomberg appealed to the Freedom of Information Act and did it: in the spring of 2011, the court ordered the Federal Reserve to make public the documents related to the provision of concessional loans.

The information released in the spring of 2011 had the potential of a bomb: The Federal Reserve, using a special “discount window” mechanism, developed and approved as early as 1914 (was it not for this mechanism that the monster was created first?) unimaginable amounts of money.

What happened in the more remote periods of history is still unknown, because at the request of the court, the Federal Reserve published only lending documents within the “discount window” in the period from August 2007 to March 2010. However, there were enough of them (29 scored thousands of pages!) For a general idea of ​​the activities of the private American Central Bank: in just one week in October 2008 was distributed concessional loans (read - free subsidies!) Worth 110,7 billion dollars, and 70 percent money transferred to foreign banks! In other words, the Federal Reserve with money belonging to the American people saved foreign financial structures from ruin!

However, this is for the American people, European banks are foreign, and for the Federal Reserve - the most that neither is native. Bernanke's generous hand quietly made Belgian Dexia SA (33,5 billion dollars), Irish Depfa Bank Plc (24,5 billion), the financial division of the Japanese fishing cooperative ... And what? Business private!

The scandal with the "discount window", which is already more than a year old, in America itself was quickly muffled and negated. And suddenly - a bomb exploded! One year later. Almost out of the blue.

Ben Bernanke, on the eve of a congressional vote on the adoption of the Federal Reserve Audit Law, attempted to intimidate with the “nightmare scenario”, which is supposedly fraught with congressional interference with monetary policy decisions. Did not help! “I can’t understand why anyone should oppose transparency,” Ron Paul quipped at the debate on the adoption of the law, “the American people deserve to know the details of the Federal Reserve’s activities aimed at saving and supporting foreign central banks. Americans are already fed up with (they're sick and tired) to watch beylautami, after which the wealthy are saved and the poor are losing their jobs and lose their homes. "

An audit of the Fed’s decision to provide assistance to foreign banks and central banks once again will allow gathering evidence of violations of the Fed’s laws, which technically should lead to an early revocation of the charter.

I must say that honest lawmakers on Capitol Hill have repeatedly tried to overthrow the credit yoke of the Federal Reserve throughout the history of this office. Alas, to no avail, and also with sad consequences (recall the fate of John F. Kennedy, who ventured to print dollar bills with the correct inscription - United States Note - instead of profaning the Federal Reserve Note).

By the way, about the inscriptions. The theme of deprivation Fed Charter is much more productive discussion of the terms of its Charter in action aspect is what will happen to the US currency, a miracle happened and the Fed moved away from the printing press! All existing dollars are exactly that “Federal Reserve Note”.

There will be no Fed, there will be no obligations.

But until that happens, the Fed is likely to start the next round of monetary stimulus in the first two weeks of September, the head of the world's largest investment fund PIMCO Bill Gross. However, the launch of the printing press will not improve the situation on the labor market. “Until 7% unemployment is reached within a few quarters, you can wait for QE. Monetary policy has exhausted its potential,” Gross said. “As soon as rates drop to zero, not many tools will remain to stimulate the economy.”

http://www.vestifinance.ru/articles/12985
http://www.vestifinance.ru/articles/16476
http://www.km.ru/economics/2012/07/27/makroekonomika-i-statisticheskie-dannye/terakt-vo-vremya-olimpiady-mozhet-uskor
http://www.publiceye.org/conspire/flaherty/flaherty6.html
http://www.reuters.com/article/2012/07/18/us-usa-fed-audit-idUSBRE86H10Z20120718
http://www.examiner.com/article/ron-paul-s-swan-song-audit-the-fed
http://www.fedspeak.ru/allspeeches-2012.htm
http://i-business.ru/blogs/21985
http://ru.wikipedia.org/wiki/Закон_о_Федеральном_резерве
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  1. Sasha 19871987
    Sasha 19871987 7 September 2012 07: 12
    +4
    THIS GENTLEMEN SHOWN UP, REVEALED AND FINALLY REACHED THE WHOLE REST OF THE WORLD WITH ITS IMPERIAL HANDLES / MORE THAN ROME WILL NOT HAVE US ...
    1. Fox
      Fox 7 September 2012 08: 12
      +1
      King makes a retinue!
    2. Ross
      Ross 7 September 2012 13: 02
      0
      sasha 19871987,
      The gentlemen will close the Fed and thereby annul their debts! And forward to print new money.
    3. Nir
      Nir 7 September 2012 13: 27
      0
      Quote: sasha 19871987
      MORE THAN ROME WON'T PREACH THE USA ...

      Already pulls and still stretches ... and if you look at Rome, it didn’t disappear in a couple of days, but it took centuries ... so your age is enough ... don’t worry, the USA is for a long time wink
  2. tronin.maxim
    tronin.maxim 7 September 2012 07: 14
    +2
    America’s debt is accumulating and accumulating! the way to solve your problem right away is war! (maybe I'm wrong). This is already happening, fueling more and more hotbeds of anarchy and chaos. Collapsed borrowers will automatically annul debt. But will America succeed !? The world has long been different!
    1. Alexander Romanov
      Alexander Romanov 7 September 2012 07: 49
      +2
      Quote: tronin.maxim
      America's debt is piling up and piling up

      Well, what’s the idea before lycimeria is correct, to conduct an audit and inspire the scapegoat in the person of the Fed, well, put some more, and then tell the whole world America not what the Fed is all about, ask the debts from them. Own not very distant population will support They love the witch hunt. But only, even in this case, the dollar is trindets.
      Quote: tronin.maxim
      Collapsed borrowers automatically annul debt

      I don’t think that China will annul such debts, ask for something in return, and what can be bought for a trillion bucks at the 2011 rate of the year in a depreciated country. The whole country, along with the main slave from the White House.
      1. broker
        broker 7 September 2012 08: 12
        0
        As for me, dollar borrowers in about 3-5 countries will make a new world currency on the basis of a collapsed dollar; its volume will be just borrowed money. I think so)))
      2. Kaa
        Kaa 7 September 2012 09: 43
        +2
        Quote: Alexander Romanov
        America doesn’t have to do it all with the Fed, ask debts from them.

        All the strength and support of the dollar stamped by the Fed is the US Army and Navy. An illustrative example is regularly provided by the example of countries that want to leave the dollar zone (Iraq, Libya). The dollar will hold out until the armed forces of China (and I would like to see Russia) reach a level that does not allow UWB to be fooled around the world. I would like to live up to this moment and sing "Goodbye, America" ​​goodbye.
        1. Alexander Romanov
          Alexander Romanov 7 September 2012 09: 59
          +3
          Quote: Kaa
          I would like to live up to this moment and sing "Goodbye America" ​​goodbye.

          Kaa, look at the neat column of cons, admirers of America still have a dollar too. In the event of the Fed’s elimination, a mercenary army consisting of whom it is not clear who can alienate, but it will not be enough for a long time, until the first cuffs.
          1. Kaa
            Kaa 7 September 2012 10: 43
            +1
            Quote: Alexander Romanov
            .For paper especially those who wish will not.

            Do not tell me, you know how they will fight for the toilet wink Well, what about the admirers of America and the dollars with their minuses - God wants to punish - first and foremost it will deprive the mind. It’s to a psychiatrist, or to the Church, they can repent, maybe they can.
            1. Alexander Romanov
              Alexander Romanov 7 September 2012 11: 17
              +1
              Quote: Kaa

              Do not tell me, you know how they will fight for the toilet

              Well, given that the population doesn’t have much cash, the fights will be for food. You won’t be full of credit, especially during the civil war.
              1. Kaa
                Kaa 7 September 2012 11: 34
                0
                Quote: Alexander Romanov
                You won’t be fed up with credit cards, especially during the civil war.
                Alas, such is it, the difficult fate of the "golden billion". We'll wait until the end of The Rich Also Cry ... recourse
  3. aleks3897
    aleks3897 7 September 2012 07: 14
    0
    [media = http: //veche.info/news/1458-v-ssha-gotovyatsya-k-grazhdanskoy-voyne.html]


    ABOUT AMERICA !!!
  4. esaul
    esaul 7 September 2012 07: 16
    0
    How can one lead a private office, raised to the rank of almost an international structure, thanks to speculators of all stripes, if this office itself does not want this? And she will be able to want in two cases - either she will understand that her continued existence can lead to the end that the end of the Russian MMM was, or it can not stand the competition when faced with a new phenomenon that is not familiar to her, such as alternative financial centers (if any ), the thought of which arose and wanders in the minds of politicians ...
  5. aleks3897
    aleks3897 7 September 2012 07: 17
    +5
    One of the latest issues of Argumenty i Fakty newspaper published an interview with the famous writer Eduard Topol under the shocking headline “The USA is on the verge of war”, in which the author declares that if President Obama is re-elected for a second term, a civil war will begin in the USA .

    In particular, Poplar writes:

    “... the situation there is much more tragic than in Russia. Major changes are coming in America in the coming months. People stock up on food, weapons. I'm not joking, I'm not exaggerating! This person living in Russia might think: what will happen to this America! .. And when you see how your neighbors, friends, acquaintances with boxes buy food for a rainy day, stock up with rifles, shotguns, pistols, it becomes scary. Alas, most likely, a civil war is coming in America. ”
    1. Evil Tatar
      Evil Tatar 7 September 2012 07: 56
      0
      Quote: aleks3897
      Alas, most likely, a civil war is coming in America. ”

      It’s a pity, of course, for the simple civilians of America, but who is to blame for them, that they choose to choose vampires to rule themselves ...
      It would be nice if our bureaucrats were grabbing ... They would play with paper dollar and on, but no, they just want to get into the garden with others, forgetting about their plot ... Suckers, in a word ...
      Damn ... There are more than ten million of ours ... Among them, of course, there are definitely not ours, but you can calculate that we sent ours there ...
      If the face is not traded in a mess, then maybe California will soon become Russian again?
      And to exert yourself, then in Alaska will the flag of Russia be hoarded?
      And when it comes to the Russian president, then for sure there will be PEACE all over the world ... And finally, children of all nations will be confident in their happy future ...
      Liu-yu-yu-yusya, what a wonderful life will come - no need to die ...
      1. Alexander Romanov
        Alexander Romanov 7 September 2012 08: 12
        0
        Quote: Angry Tatar
        Damn ... There are more than ten million of ours.

        Many of them have not been ours for a long time, look at what some of them write on the site, spit on Russia and glorify America. Although some have remained human.
      2. Igarr
        Igarr 7 September 2012 08: 56
        0
        Eugene, hi.
        So maybe, at a pace, type a team .. yes and rush there. To the States. Export, so to speak, civil war.
        How many of us will gather here? Yes, in small groups, gardens to Kotovsky.
        And begin by blessing.
        "..We cannot wait for favors from ... To take them .... our task" - right?
        ..
        When do we start?
        1. Alexander Romanov
          Alexander Romanov 7 September 2012 09: 06
          +1
          Quote: Igarr
          When do we start?

          Oh you, the competitor has drawn, we will take America !!! In the queue of pleas.
    2. Alexander Romanov
      Alexander Romanov 7 September 2012 08: 10
      0
      Quote: aleks3897
      a civil war is coming in America. ”

      It remains to her, a little more than a month. This is not necessary to go to Topol, everything was predicted for a long time. How much I wait for this day of retaliation, I am all eager to see the flaming American cities. The wind has sown, and soon the storm has reaped.
      1. Igarr
        Igarr 7 September 2012 22: 15
        0
        Evil villain ...
        Cravado
        Intransigent non-relentless ..
        Competitive competitor ..
        ..
        Lan, persuaded ... start the first.
        Crosses ... then we divide ... to whom iron, to whom birch.
        ..
        hi aggressor.
        (only I would still ... leave the city ... people live)
  6. bask
    bask 7 September 2012 07: 21
    +1
    Fed in America. With an incomprehensible system of subordination and reporting, it is not controlled by the sinatu or the president. .A good example of who rules in the USA.! Who is the master of the nation.
  7. Sasha 19871987
    Sasha 19871987 7 September 2012 07: 22
    0
    yes, they stimulate the economy through wars, but there is one thing — this is a temporary solution and the fall will be difficult, the most important thing they have already lost is the confidence of the world in them .... God forbid that Russia is not much caught up in their economic collapse, which is exactly will be
  8. Hippopotamus
    Hippopotamus 7 September 2012 08: 06
    +2
    It seems that the "Jews", having failed to sell Russia, finally sold America ... bully
    1. Alexander Romanov
      Alexander Romanov 7 September 2012 08: 16
      +1
      Quote: Hippo

      It seems that the "Jews", having failed to sell Russia, finally sold America ..

      Boo ha ha, yeah sold for 16 trillion laughing
      1. neodymium
        neodymium 7 September 2012 11: 33
        0
        The magic number is 16 trillion.
        That is how much the United States owes.
        With CORRECT serve, this is the bomb before the election.
        Obama will be blamed, it is already visible how Hilary fell at one time.

        How to react to this simple pasans from the black ghetto?
        What about Chuck Norisam from Texas?

        "Did the Jewish bankers give money to their own people, including from the rotten Geyropa?"

        It's w ~ 64 kilobax on each! on all pasans, including senior citizens (a car with 22 inch wheels, a fur coat and a chain bully

        The American people were deceived, the polymers were prosal, unforgettable, niprastim.
        We take two trunks on the snout and ALL ON THE AREA !!! bully

        So, we look forward to the development of events ...


        For this money, Sarkozy, Olan, Merkel feel deep gratitude to C.Sh.P. and crawl on karachki all kindergarten.
        They are ready for a new war, ready to leave their population without gas, while loyally looking into the eyes of the paed.do.s.a.m.
  9. Rashid
    Rashid 7 September 2012 08: 55
    +1
    At the same time, people are buying dollars from us (as they say in the news), apparently fearing that the ruble will become cheaper again.
  10. Chukcha
    Chukcha 7 September 2012 09: 49
    0
    Hippopotamus,
    So who is the buyer? )))))
  11. Middle-brother
    Middle-brother 7 September 2012 10: 25
    +2
    It is possible that the Fed will simply be reorganized and renamed, if only everyone would calm down. And the main popes, from the Bilderberg Club and the largest banking families, through their puppets in the government will announce that the situation is under control and everything will now be OK. Well, even before the heap they will find an extreme, as well as another external enemy. In short, the machine will not stand idle.
    1. baltika-18
      baltika-18 7 September 2012 11: 09
      +2
      The middle brother is plus. Founders of the Fed are the 14 largest banks. They can simply give up the dollar, throw America, create another reserve currency, at least a ruble, at least a yuan. It's not the name, it's the principle of the whole world economy based on loan interest and exchange trading when the pricing of resources and goods occurs on the basis of air trading (so-called futures).
  12. saruman
    saruman 7 September 2012 11: 30
    0
    Damn, I don't understand how the ancient Mayans calculated that the lease of the world "printing press" by private bankers would end on December 21, 2012 !? And they called it the end of the world!

    Yin, Yang, Crap, Emin !!!
    1. Cosmos-1869
      Cosmos-1869 7 September 2012 12: 55
      0
      The Maya did not calculate anything. This whole myth about the "end of the world according to the Mayan calendar in 2012" was invented by magazines in the early 2000s.
      In the book by Jose Arguelles, "The Mayan Factor" (original source), nothing is said about the end of the world. But the guys, apparently knowing that the lease of the machine ends on December 21, 2012, decided to play a trick on the world and started this blizzard. Prepare the public;)
      That's just laughing now wassat