Why the change from centuries - old practices?
In January the US Supreme Court overturned two precedents, much of the 2002 "McCain - Feingold" campaign finance laws, under a broad interpretation of the First Amendment protecting Free Political Speech.
Dred Scott, piped in "I shoulda just asked my lawyer to buy a corporate shell - woulda helped me tremendously and possibly saved years trying to speak to the courts."
Ron Paul adds "Perhaps, under Citizens v FEC, we can ask for "free speech" from certain corporations including the...hybrid FEDERAL RESERVE CORPORATION".
At a minimum the near 100-years-old 12 regional bank districts are due for resizing since "The size of each district was set based upon the population distribution of the United States when the Federal Reserve Act was passed. " (1913) - true.
It's not a question of IF the Fed will cease, it's when...
When, not if the Fed is revealed for:
- failure to spot and curtail the housing bubble,
- failure to regulate certain financial institutions, o/k/a "the Clearing House Association"
- failure to, as required, recognize and explain to Congress the basic math of 2,000 X financial and economic leverage of zero down mortgages levered by certain banks 20 (or more) to $1 compared to banks' safety and soundness requirements as under authority of the...Federal Reserve,
- failure to exact salary and/or bonus concessions from recipients, largely in a certain Federal Reserve District east of the Hudson, Bail out in contrast to that from auto workers,
- failure to stop $5B in retention bonuses paid to thousand of stock brokers, employed largely by certain members of a Federal Reserve bank district east of the Hudson,
- failure to stop AIG from paying out $165 MM "contractually obligated" Bonus payments in contrast to certain auto workers under collective bargaining arrangement (CBAs),
- >$1T Asset removals for 100 cents on the dollar - CASH - but only from certain banks, largely from a certain Federal Reserve district east of the Hudson,
- lowering Federal Funds aka cost of money to near ZERO - when the cost of money is never FREE; largely to help only member banks of a certain Federal Reserve District east of the Hudson to RE-liquify their balance sheets
- Forcing persons, who in the past chose to be prudent and save money for a "rainy day" mostly senior citizens, to live in poverty
- Flood the "banking system with new money", aka QE2 the debasement of what's left of credibility in the US Dollar; and the Fed is gonna measure effectiveness and success how?
- Will the Fed's measures of success include an * aka ex-extraordinary efforts to revive and resuscitate "the economy" - as they did to Roger Maris; here from May 2009.
- Better "the people (not the systems) at the Fed (on our payroll!) do the - thing that requires NO money - tell the truth, disclose unvarnished information to the public, of who and what created a "false economy" that led to a so-called financial crisis...
Ending the siesta on the taxpayers dime - one easy to read blog at a time.