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By       Message Kent Welton     Permalink    (# of views)   No comments

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View Ratings | Rate It Headlined to H3 11/12/09

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"If government becomes 'independent of politics' it can only mean that that sphere of government becomes an absolute self-perpetuating oligarchy."
Murray Rothbard, The Case Against The Fed
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As we get closer to a tiny similicrum of banking reform, we hear the great chorus of sycophants repeating the catechism of Fed independence -- in short, their pledge to the church of greed.
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It has become a mantra, a mindless pledge of allegiance to the oligarchy, to the filthy rich and powerful banking families that own our country, our world, and our lives.
Watch the lemming politicians and economists fall all over themselves to say they support fed independence.

Independence from whom, for what, for how long? The Fed is clearly not independent of banking oligarchies, it is not independent of the self-interest of the fed's private owners. It is only independent of the very people the Constitution required it not to be independent from!
Clearly, Fed "independence" is the scam of the ages, and the people who espouse it are either uninformed, bought off, scared for their positions, or ruthless fascists.
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So you think the founders were crazy, wrong not to give a private central bank independence but, instead, to make it dependent on a Congress re-electable by the people - as opposed to appointments virtually dictated by the big bank fed owners? So run on that platform -- i.e., that the founders were crazy and we're much better off with an oligarchic, Goldman-Sachs, forever Fed. Tell your constituents you don't believe in the Constitution... that the big bankers know best.

The truth is the last thing we need is more fed independence, we need a public central bank responsible to the people, and dedicated to the public interest.

Kent Welton,

"Wall street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master."
Mary 'Yellin' Lease, 1895

"A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army...We must not let our rulers load us with perpetual debt."
Thomas Jefferson

"The damnable result is that the Fed effectively controls the U.S. money supply. The Fed is ...not even a branch of the U.S. government. The Fed is not mentioned in the Constitution of the United States. No Constitutional amendment was ever created or voted on to accept the Fed. The Constitutionality of the Federal Reserve has never come before the Supreme Court. The Fed is a private bank that keeps the U.S. forever in debt - - or I should say in increasing debt along with ever rising interest payments."
Richard Russell

"Central banks were supposedly the guardians of money. Yet, they have created the biggest liquidity bubble in history."
The Economist

"Regarding the Great Depression, you're right, we did it."
Ben Bernanke, Federal Reserve Chairman

"The last duty of a central banker is to tell the public the truth."
Alan Blinder, Vice Chairman of the Federal Reserve, on PBS's Nightly Business Report in 1994.


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