The BIG Issue if the GOP Takes the Senate

[Lucille]

My prediction is "not at all." No matter what the progs in the red jerseys say, a majority of them love the Fed as much as the progs in the blue jerseys. Can't wage perpetual war for perpetual peace without it!

http://www.zerohedge.com/news/2014-11-04/big-issue-if-gop-takes-senate

The bigger issue for the US is how a GOP Senate would impact the Federal Reserve.

The Fed runs the US economy. Every American who eats food or uses energy or has a US Dollar in their bank account is directly affected by the Fed’s actions.

The current Fed is run by the very liberal Janet Yellen, who believes firmly in wealth redistribution. Yellen proudly considers herself and her policies to be liberal.

However, the Yellen Fed may soon be facing increased scrutiny and oversight.

In July of 2014, two GOP Congressmen introduced a bill that would require the Federal Reserve to follow the Taylor Rule regarding interest rates. While the details of this rule are not worth delving into at this time, the key ideas are that:

1) Interest rate policy would no longer be subject to the whims of Fed officials.

2) The Fed and its policies would be regulated by Congress for the first time in history.

In September, just two months later, the GOP-controlled House passed an “Audit the Fed” bill.

The political winds have begun to shift against the Fed. It is telling that the US Dollar began to rally soon after this legislation was introduced. A less active Fed means a stronger US Dollar. Between the end of QE, negative interest rates in Europe, and legislation that would rein in the Fed’s lack of accountability, the US Dollar has hit a four -ear high.
[...]
If the GOP takes the senate, the days of the Fed doing whatever it wants will have ended. This may well in fact be what pops the US stock market bubble. The GOP hasn't controlled the Senate at any point since the Crisis hit in 2008. If the GOP controls both the House and the Senate, the Fed will be in for SERIOUS problems.

 

[mello]

If they plan to rein in the nut jobs at the Fed, they should do it right after getting that 2 trillion back from overseas. This way the jobs created by rebuilding our infrastructure will help even out that panic from Wall Street.

 

[ILUVRP]

If they plan to rein in the nut jobs at the Fed, they should do it right after getting that 2 trillion back from overseas. This way the jobs created by rebuilding our infrastructure will help even out that panic from Wall Street.

i doubt if anything will change , the gop has had many chances to rein in the fed over many years and nothing was ever done .

there is very little difference between the gop and dems when it comes to big money and where it goes .

these guys are all talk , saying they will rein in the fed is always worth a few votes , that is the only thing these guys are looking for .

there will never be another ron paul , the only one that really would have done something .

 

[Lucille]

http://www.zerohedge.com/news/2014-11-05/economy-so-strong-it-just-cost-obama-senate

But even a world full of ironies needs some humor, and it got it with this WSJ story, "GOP Senate Takeover Puts Fed on Hot Seat":

Republicans’ takeover of the U.S. Senate promises increased political turbulence for the Federal Reserve, which has already been under pressure from a GOP-controlled House.

Financial executives say a GOP-led Senate would ratchet up congressional scrutiny of the central bank’s interest-rate policies, as well as its regulatory duties as overseer of the nation’s largest financial firms. Republicans haven’t controlled the Senate since before the 2008 financial crisis and recession, which put a spotlight on the Fed and its powers.

“If the Republicans take control of the Senate and thus have control of both the House and the Senate—two words for the Federal Reserve: Watch out,” Camden Fine, president of the Independent Community Bankers of America, said before the Election Day results were final. His group represents the community-banking industry.

While we enjoy the humor that someone will dare to touch the goose that lays the golden market, we wish to make a small correction: it's not two words. It's three: "get to work." Because after a few days, when the excitement and the drama wears off, the people will once again realize they have been fooled, the only winners are Wall Street, the wealthy and their political marionettes in D.C. As for everyone else, well there is 2016, and then 2018, and so on... because the lie must go on.

 

[HOLLYWOOD]

FED FISHER: "I'm Uncomfortable When Congress Tells Us What To Do"

If you have Bloomberg TV, turn it on NOW... Dallas FED bankster Richard Fisher is on and he is just mad some absolutely shocking statements on public airwaves.

Fisher,

"We make rich people richer" & "THE FED is independent, do you want Congress going back to coinage?" & "I'm tired of people taking pock-shots at the FED"

It appears they have Jeb Harseling (R-TX) in their back pocket and confronted Rand Paul's statement of AUDITING THE FED and it's assisting in aiding & abetting Yellen and big government."

Fisher,

"Obvipusly we work for the American people, we were given our licensed by Congress of the United States." I hope they are responsible in limiting the amount they[Congress] want to interfere with THE FED's independence. And I, (chuckle) Jim Bullard, I, we're not even Federal Employees, private, we don't work for the government. This is the beauty of the system... This is the beauty of the system that President Wilson setup 100 years ago, 100th anniversary... it works. The first two banks of the United States lasted 20 years, each and failed... Jackson closed down the second one
Eight decades of turmoil, it resulted in one of the great depressions of all time, "Rich man's panic of 1907"... and what was the result of that? One man controlled the monetary system, JP Morgan. That's what US Senator Aldrich, President Wilson stepped forward and created the FEDERAL RESERVE system.

I think it's very dangerous to tamper with the institution. Yes we can be updated and tweaked, but we've lasted a 100 years and in the balance we did a very good job"

Please post that video to this thread, it's incredible interview... thanx


meanwhile since Fisher mentioned the Aldrich Vreeland Act (1908) plan:

 

[Lucille]

"We make rich people richer"

Good to hear him admit. Except he didn't finish: "...on the backs of the poor and middle class."

THE FED is independent

Not according to Greenscam:

http://www.zerohedge.com/news/2014-11-03/alan-greenspan-marc-faber-i-never-said-fed-was-independent

And I was allowed to ask him a few questions, so I asked him, Alan, you’ve been Fed chairman since 1987 until 2006. Would you have done anything different if you were again Fed chairman? And then he explained this and that, and then I interrupted him and I said, you mean to say that the Federal Reserve is not independent? He immediately said, Marc, I never said the Fed was independent. That’s what he said. I never said that the Fed was independent. In other words, the Fed and the treasury and the government is basically one and the same.

 

[CaptUSA]

The only way I see this bill coming up for a vote is if they either water it down to make it meaningless or if they know they will have a majority to vote against it. This is not the type of bill the establishment will allow to be passed. You have to understand the implications of a true FED audit... It would disastrous not only for the establishment of this country, but it would also expose us to foreign hostility. Until they come up with a plan to deal with that, they will never - repeat, NEVER - allow a true and full public audit to happen.

 

[Peace&Freedom]

The only way I see this bill coming up for a vote is if they either water it down to make it meaningless or if they know they will have a majority to vote against it. This is not the type of bill the establishment will allow to be passed. You have to understand the implications of a true FED audit... It would disastrous not only for the establishment of this country, but it would also expose us to foreign hostility. Until they come up with a plan to deal with that, they will never - repeat, NEVER - allow a true and full public audit to happen.

If that's the case, short of ending it, one alternative would be to nationalize the Fed by absorbing it fully within the Treasury dept, with the Secretary of the Treasury becoming the head of the Fed, and the board becoming the various state Comptrollers across the states. This would at least roughly restore the issuing power over the currency to the elected government, convert its operation nito a PUBLIC rather than a private affair, and make the activities of the Fed transparent going forward.

 

[CaptUSA]

If that's the case, short of ending it, one alternative would be to nationalize the Fed by absorbing it fully within the Treasury dept, with the Secretary of the Treasury becoming the head of the Fed, and the board becoming the various state Comptrollers across the states. This would at least roughly restore the issuing power over the currency to the elected government, convert its operation nito a PUBLIC rather than a private affair, and make the activities of the Fed transparent going forward.

Ouch. Talk about out of the frying pan and into the fryer!

 

[HOLLYWOOD]

Ouch. Talk about out of the frying pan and into the fryer!

Frying Pan? Fryer? That's a "PUNCH BOWL" ...well, according to Nancy Pelosi. BTW, where is the big mouth Marxist Minority House Leader?

 

[georgiaboy]

I've heard the idea floating around of creating a "Rule" by legislation that would place limits on what the Fed could do on its own.

This might be a better alternative than "auditing the Fed".

 

[Deborah K]

If you have Bloomberg TV, turn it on NOW... Dallas FED bankster Richard Fisher is on and he is just mad some absolutely shocking statements on public airwaves.

Fisher,

It appears they have Jeb Harseling (R-TX) in their back pocket and confronted Rand Paul's statement of AUDITING THE FED and it's assisting in aiding & abetting Yellen and big government."

Fisher,

Please post that video to this thread, it's incredible interview... thanx


meanwhile since Fisher mentioned the Aldrich plan:

Great post, as usual. Aldrich was also behind the 16th amendment. It's thanks to him that we bow down to the IRS.

 

[Deborah K]

We need transparency. Anything less is a façade. Our money needs to be hard-backed. Period.

 

[HOLLYWOOD]

Great post, as usual. Aldrich was also behind the 16th amendment. It's thanks to him that we bow down to the IRS.

Thanks... one has to look no further than every city in America... the tallest buildings are the Banksters' buildings.

Man such arrogance from Fisher, BTW, notice how Fisher presented HIS version of history on central banking in America? He just forgot to mention, SCOTUS, chief justice Melville Weston Fuller... everything Fuller stated about systemic chaos of a FEDERAL RESERVE central banking system has come true. Wealth dictated to the elites and class warfare. He killed the 1890s push for the FIAT...

Fisher just happen to forget that bit or that JP Morgan should have been arrested for; treason, racketeering, fraud, influence, and organized crime in 1907.

Hey Fisher, 1920, The Great Depression, WARS, tax rates to 98%, recessions, Depression of 2008, death of the middle class, currency devaluation, IRS corruption-targeting-theft, absolute power.

Washington DC sold the country out to the Banksters... they didn't even put a cap on the direct tax on the people for the 16th Amendment, how insane is that? The politician can go from none, to taking it all, and the rates are designed to enslave/control. Look at the change in tax rates between 1913 and then 1918. Social Security has become an account for government/US Treasury to dump it's debt too.

Then... A historical Lite Snack: National economy and the banking system of the United States