This Time, Banksters, You've Gone Too Far

So says the House.

The U.S. House of Representatives voted overwhelmingly on Wednesday for a piece of legislation Rep. Ron Paul (R-TX) has been pushing for more than a decade, calling for the Government Accountability Office (GAO) to audit the nation’s central bank, despite the Federal Reserve chairman’s warning that such action could produce a “nightmare scenario.”

Members of the House passed Paul’s “Audit the Fed” bill by a vote of 327-98. Only one Republican voted against the bill: Rep. Bob Turner of New York. In all, 89 Democrats joined Republicans in passing the bill, including arguably the chamber’s most liberal member, outgoing Rep. Dennis Kucinich (D-OH), who cited recent reporting by The Washington Post that claims the New York Federal Reserve knew but did not tell regulators about manipulation [of] a key inter-bank lending rate known as Libor.

[...]

The Texas stalwart and longtime foe of central bankers supported a Fed audit in 2010 that became part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. That audit required the Fed to disclose its lending practices during the 2008 financial crisis, revealing that the bank doled out more than $16 trillion in loans and assets swaps to financial institutions all over the world in an effort to stabilize global markets.

[Fed Chairman Ben] Bernanke warned that any effort by Congress to compromise the independence of the Fed would weaken its ability to stabilize the economy in the event of a crisis like the near-collapse of 2008.

“The nightmare scenario that I have is one in which some future Fed chairman would decide to say, raise the federal funds rate by 25 basis points, and somebody in this room would say, ‘I don’t like this decision and I want the [Government Accountability Office] to go in… and give us an independent opinion of whether or not that would be the right decision,’” he said.

  Raw Story

Oooh. Nightmare!

[The Dodd-Frank Act] did not satisfy Paul, who saw it as a stripped-down version of his original proposal because it did not examine Fed monetary policy negotiations as well.

[...]

While the victory will likely be seen as one of Paul’s crowning achievements in Congress, it will progress no further this session thanks to Senate Majority Leader Harry Reid (D-NV), who has refused to bring it up

Gotta protect those banksters.

...but hey, do what you want...you will anyway.

The Government We Deserve

I'm late with this, but there goes Dennis Kucinich. Not too long after the voters dumped Russ Feingold. We'll soon have nothing but warmongers left in Congress.

 ...but hey, do what you want...you will anyway.

Silver Lining? We're Fresh Out

Unfortunately for Americans and the world, the US electorate lacks the intelligence and the awareness of their plight as denizens of a police state to elect Ron Paul, the last defender together with Rep. Dennis Kucinich of the US Constitution. Nevertheless, there would be a silver lining in one of the Republican morons being elected president of the “world’s only superpower.” Once the rest of the world realized that a war-crazed idiot had his or her finger on the nuclear button, the rest of the world would organize and close down the Washington horror before it destroys life on earth.

  Paul Craig Roberts

You know, I just don’t have that confidence in the rest of the world. They're looking rather pathetic these days as well.

Back when George the Idiot was getting his second term, I was able to comfort myself with the silver lining idea that only by keeping him in office would our situation become so obviously corrupt and hopeless that people would finally rise up and correct it. How wrong I was. Or, rather, the people tried, by supporting Barack Obama, but it is now painfully clear that there will be no correction. I think the Occupiers are on the right track, but they’re too late. The train has left the station.

...but hey, do what you want...you will anyway.