Response From My Congressman

[Jack Parsons]

I received a quick reply from my Congressman regarding HR 1207. A disappointing response.

Dear Me:

I have followed the Financial Service Committee's oversight hearings of the Federal Reserve and the banking system with great interest and Congress must remain vigilant and meet our oversight obligations. With the size of government investments in recent months, the desire and right of the government to such scrutiny has never been higher.

The Treasury, Federal Deposit Insurance Corporation, and other regulators have performed just such an investigation in the course of the stress tests of the largest banks. FDIC keeps a constant watch on all of its member banks as well, and Congress will continue to hold hearings and investigate so the government is on the job. At first blush, the Federal Reserve Transparency Act of 2009 (HR 1207) looks like just another aspect of that scrutiny. Closer examination, however, reveals some problems with this bill's approach.

The United States Code has strict provisions to prevent the federal government from improper direct interference in the way businesses operate. One of those restrictions is that the government may not simply demand to see the account books of a bank. HR 1207 would remove that protection, exposing all banks to partisan, political pressure. That it exposes the Federal Reserve to the same pressure is improper as well. Congress created the Fed to keep our country's monetary policy in a non-partisan, apolitical agency, so the Governors could focus on setting wise policy regardless of how it might affect any political party. That was a wise decision and it has served us well over the years.

HR 1207 would undermine the very protections the Fed was created to provide, and would expose individual businesses to government interference. While systemic oversight is an important role, government is not supposed to micromanage business in this way. That's just not a policy I can support.

Sincerely,

Charles A. Gonzalez
Member of Congress

 

[pacelli]

At least you know where your vote is going, if you choose to vote this time around.

 

[TheEvilDetector]

Federal Reserve is not a regular business.

It has been granted unassailable monopoly power over creation of money domestically.

Therefore it should be heavily regulated and audited, given how much effect they have on the nation's fiscal health.

In fact it would have been better not to have allowed it to exist at all, but what's done is done.

Hopefully the audit takes place, followed by the repeal of the authorisation for their existence, while at the same time not
allowing a bigger financial cartel to fill the void.

 

[anaconda]

Federal Reserve is not a regular business.

It has been granted unassailable monopoly power over creation of money domestically.

Therefore it should be heavily regulated and audited, given how much effect they have on the nation's fiscal health.

In fact it would have been better not to have allowed it to exist at all, but what's done is done.

Hopefully the audit takes place, followed by the repeal of the authorisation for their existence, while at the same time not
allowing a bigger financial cartel to fill the void.

Yeah. Good thinking. We definitely need good talking points to bury these type of arguments. We're gonna need them soon...

LOL about this Congressman's concern about "government not interfering in business." With all of the bailouts this guy has got to be kidding.

Hell, let's try to flip this guy! Let's all contact him and try to convince him to do the right thing...

 

[HOLLYWOOD]

Reply to the spineless grafter:

When money can be created out of thin air, with no accountability and/or transparency, then lots of political clout can be purchased….. In my opinion that’s the message any legislator is relaying if they don’t support this bill! "I’ve been paid for..."

The Federal Reserve is in a perfect position to wield invisible power. That “Power corrupts and absolute power corrupts absolutely” and unchecked power must surely corrupt, makes the Fed a very frightening entity. Non-support of HR 1207 by any representative leaves them suspect. This bill will sort out who the traitors in congress REALLY are. All of the Representatives in CONGRESS are aware of the out of control, unaudited, unconstitutional and illegal status of the Federal Reserve and that they are conspiring to wreck our economy to force an international banking system, or to put it a different way, a global enslavement system. Therefore by every single representatives support or lack of support for HR1207, they show the entire country, whether they are a traitor or a patriot. The only thing left to ponder is whether you politicians are; bought off, being blackmailed, are a party minion, etc. But then again, who really cares. A traitor is a traitor by any other name!

The simplest logic lends ultimate viability to the H.R. 1207 bill. Why…… why on earth would anyone think that one of the most powerful and secretive institutions in the world, that dictates monetary policy to the United States and beyond should be left alone, with the belief that it’s leadership is immune to the human sins of; fraud, greed and power lust. Now they seek to enslave our children and our children’s, children, with debt, which need not be produced at all. I know it’s not easy to disturb the states quo, nor to think outside the box, but we must if we are going to keep our children from a life of perpetual slavery. Additionally, the evidence is there of decades of boom/bust cycles (recessions/bubbles) induced my the monetary policies of THE FED and their covert banking cartel behind the scenes.


Cut the governments ability to finance its self (with monopoly money it makes for its self) and you will automatically cut through a whole lot of stuff…like UNconstitutional/Iillegal laws and wars!

 

[Jack Parsons]

Is this statement true from the Congressman?

One of those restrictions is that the government may not simply demand to see the account books of a bank. HR 1207 would remove that protection, exposing all banks to partisan, political pressure.

EDIT:

I just went through HR 1207. The agencies listed are (and these were already listed under section 714 of title 31, United States Code):

Financial Institutions Examination Council
Federal Reserve Board
Federal reserve banks
Federal Deposit Insurance Corporation
Office of Comptroller of the Currency


So why in the hell is my Congressman drawing the conclusion that all banks will fall under "partisan, political pressure"?

 

[hugolp]

The Federal Reserve micromanages? Since when? The FED macromanages.

This guy is ignorant or a lier (probably both).

 

[Jack Parsons]

bump

 

[SLSteven]

So why in the hell is my Congressman drawing the conclusion that all banks will fall under "partisan, political pressure"?

Does he hang out with Paulson and Geithner?

 

[Anti Federalist]

The FED is like a business...and can't be micromanaged or "politicized".

But according to DHS and the MIAC report, people who said that the FED was a private banking cartel were "terrorists".

The FED's chairmen is appointed by a political person.

Truly Bizarro World...

 

[HOLLYWOOD]

That Congressman is just a manipulative liar.

What did the Executive branch do to the CEO of GM, again? So I presume this Democratic Hypocrite, that has voted to get government involved in everything from cradle to grave, then, makes an exception for THE FED? Yeah Right

Ask the Congress critter who's his campaign financers or what family relatives have been given jobs related to the FED/BANKS.

Audit the FED I know, will reveal mucha graft and corruption that extends right to the offices of Capital Hill.

Is this statement true from the Congressman?


One of those restrictions is that the government may not simply demand to see the account books of a bank. HR 1207 would remove that protection, exposing all banks to partisan, political pressure.

EDIT:

I just went through HR 1207. The agencies listed are (and these were already listed under section 714 of title 31, United States Code):

Financial Institutions Examination Council
Federal Reserve Board
Federal reserve banks
Federal Deposit Insurance Corporation
Office of Comptroller of the Currency


So why in the hell is my Congressman drawing the conclusion that all banks will fall under "partisan, political pressure"?

 

[AJ Antimony]

Simply reply with "Thank you. Now I know for sure you actually prefer government secrecy. I will tell all my friends and neighbors about this and will work hard against you next election cycle."

or something to that effect

 

[carlangaslangas]

The Fed seems to have brainwashed many congressmen. Somehow convincing them that auditing the Fed is unamerican or illegal?!?
At least we know who NOT to vote for in the next election.