BestPolicies,

You said:

“Does the U.S. have go to the edge of bankruptcy before effective action will be taken?  I wish I knew the answers to these questions!”

Well, there is a lineage of history which declares the U.S. did fall into bankruptcy, and when the gold was confiscated and sent to the Bank of England… well, the citizens of the U.S. of A., Inc. became the surety for those debts- the national debt.

Look at your dollar bill, it is a Federal Reserve NOTE.  A NOTE is an I.O.U.  A debt instrument.

Some folks thought communism was obliterated and the fascist tyranny was stopped mid last century… think again.

Here is some text from a website I would not publicly link to keep it online and free from empire affliction:

‘On April 5, 1933, then President Franklin Delano Roosevelt, under Executive Order, issued April 5, 1933, declared: “All persons are required to deliver on or before May 1, 1933 all Gold Coin, Gold Bullion, and Gold Certificates now owned by them to a Federal Reserve Bank, branch or agency, or to any member bank of the Federal Reserve System.”

The order (proclamation) issued by Roosevelt was an undisciplined act of treason. Two months after the Executive Order, on June 5, 1933, the Senate and House of Representatives, 73d Congress, 1st session, at 4:30 P.M. approve House Joint Resolution 192 (HJR-192) 192: Joint Resolution to suspend the Gold Standard and abrogate the Gold Clause, Joint resolution to assure uniform value to the coins and currencies of the United States.

HJR-192 states, in part, that “Every provision contained in or made with respect to any obligation which purports to give the oblige a right to require payment in gold or a particular kind of coin or currency, or in any amount of money of the United States measured thereby, is declared to be against public policy, and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provisions is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any such coin or currency which at the time of payment is legal tender for public and private debts.”

HJR-192 goes on to state: “As used in this resolution, the term ‘obligation’ means an obligation (including every obligation of and to the United States, excepting currency) payable in money of the United States; and the term ‘coin or currency’ means coin or currency of the United States, including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations.”

HJR-192 superseded Public Law (that which passes as law today is only “color of law”), replacing it with public policy. This eliminated our ability to PAY our debts, allowing only for their DISCHARGE. When we use any commercial paper (checks, drafts, warrants, federal reserve notes, etc.), and accept it as money, we simply pass the unpaid debt attached to the paper on to others, by way of our purchases and transactions. This unpaid debt, under public policy, now carries a public liability for its collection. In other words, all debt is now public.”

Any question?

“It could probably be shown by facts and figures that there is no distinctly native American criminal class except Congress.”
- Pudd’nhead Wilson’s New Calendar, Mark Twain

The poor management of the economy has many fathers.  The Federal Reserve cannot claim innocence in this matter. 

Congress might be able to correct its mistakes if it was only able to recognize them.  Loopholes for the better off in the tax code didn’t suddenly appear spontaneously. 
We have all witnessed how Congress has resisted reforming a bloated health care system that serves too few. 
The largest five bank in the U.S. are both too big to fail and too big to contribute to economic growth.  Congress should have done more to reform the financial system. 
The so-called national security state has not been able to make the U.S. safe or secure despite its enormous cost. 
Add together the tax loopholes and the waste in the health care system, the financial system, and the national security state and other pork-barrel projects and you’re looking at trillions of U.S. dollars of waste that require millions of dollars of campaign contributions and lobbyist to maintain.
Can U.S. democracy fix the inter-locking failures of the political, economic, and foreign policy systems?  Does the U.S. have go to the edge of bankruptcy before effective action will be taken?  I wish I knew the answers to these questions!  However when I look at Congress I am not at all sure that it can do anything worthwhile.

The news, and now these TD articles, are starting to read more like a comic book series than anything else…

We should all choose our roles in this tragic comedy.

“Thankee, Bernanke?” Gene, next time, please resist the urge for humor.

I again ask Robert Scheer what it takes to get on the payroll because this piece of Robinson’s selective political myopic bullshit is about the worst I’ve seen here on TD. I would welcome at least one opportunity for Robinson to redeem himself and write an article he had actually done some research on before caving in to his subjective opinions and attempting to plaster them as fact.

Does anyone actually take this clown seriously or is TD testing the limits of its readership by not putting Gene in its “on The Lighter Side” section? This is comedy, right?

So… when is the internet going to replace Congress as the means by which the people govern themselves?

We can vote for what the interest rate should be ( if any ), and how much money to print in order to facilitate economy ( if any )...

We can even vote on whether our tax rate will go up, down or go to what need or ‘public work’ ( or none at all ).

I think considering voting for the pedigreed class another year is so… 1776.

Until the idiots understand that their jobs are in danger, they will fail understand and fix the economy.  Did I say idiots?  I meant Congress.  It’s more or less the same.
Of course the America public doesn’t understand the economy either.  But that’s no surprise.  Where would they get the information?  From the newspapers or TV?
Why do you think that after the Senate amended the Health Care bill it was thousands of pages?  Special provision are required by special interests.  How much money do you need to run for Congress? 
Not one Congressperson is corrupt just the political system is.

Oi! Veh!

What a repulsive lot of brown-nosing by Eugene Robinson.

The FED is the primary CAUSE of our current economic mess. It is not the solution.

The main (some would say, only) tool the FED has is the creation of fake “money”, which it doles out to its politically-connected buddy businesses. For example, even in QE2, the FED chooses to buy its bonds from GOLDMAN SACHS, even though it could easily buy them directly from the US Treasury at a lower rate!

Are you bloody kidding me? Eugene Robinson—WAKE UP!

Suppose that Bernanke did not use this “quantitative easing”, the QE1,QE2, and next up, QE3? Suppose he did not buy up all the garbage on the banks’ balance sheets in QE1? They would have failed and the system would have gone down. The economy wouldn’t have survived for QE2, when he buys up treasuries this time. This creates a demand for treasuries, since the Chinese are not buying them.  Bernanke is buying up the national debt at nearly zero interest rates to the gov and keeping long term interest rates on the national debt low. This means that we do not have to have a crash austerity program as in Ireland or Greece just to meet interest payments on the national debt. It also means injection of money into the banking system, which should simulate lending to the public.

But, Eugene, have you noticed that even though Bernanke is pumping billions into the system, the banks still aren’t lending, which indicates QE isn’t working. Unemployment is rising. You may have noticed that. And Ben is talking about QE#3.

Before you canonize Bernanke for saving the economy from Depression, let’s find out if it gets saved, shall we?

And you may ask yourself why Ben gives the money to the banks to encourage them to loan, but they don’t? 

Ask yourself why he doesn’t just give the money to the people, like a trillion or so, or about $5 grand per capita. That would end the recession overnight.

he answer is that he’s trying to save “systemically important institutions”, that is to say, the ass-holes who got us into this mess in the first place. The people are not systemically important.

So, please don’t try to make a hero out of a guy who’s only trying to save his friends, and himself, too…....

Bueller was the coolest kid in school.  And the smartest, come on!

Who wouldn’t want to be their school’s Bueller?

Goofy

When considering all the names that might be available for you to call me, “Bueller” seems kind of goofy.

COinMS:

That is my question too. And I have another question: On what planet is Robinson living on?

****************

““I’d pay good money to hear Palin explain, in
detail, how she arrived at her views about
monetary policy and the proper role of a
modern-day central bank. “”
*****************

The proper role of a central, any central bank
be it modern or old fashion, it NOT TO EXIST. I
think if was Ben Franklin that stated ‘the’ or ‘a’
major reason for the american revolution was
england’s attempt to establish a ‘central bank’
for the colonies and outlawed the colonies’
current currency.

“”“Give me control of a nation’s money
and I care not who makes the laws.”“”
          Mayar Amschel Rothschild

That is what the federal reserve is about and
the owners, a purely private concern, is damn
sure not about to let the federal reserve go
away. And the only concern, as stated in the
article, for bernanke is

““An expert on the Great Depression, Bernanke
is determined not to be the Federal Reserve
chairman who allows the nation to plummet
into Great Depression II.”“

he don’t want to be the cat left holding the bag.

Thanks Bueller for that copied and pasted bunch of say nothing.

Only the minutes are made available after the fact, so don’t pander to the ignorant any further than need be.

Simply consider the debt instrument you hold believing it to be an asset.

POLITICAL RESEARCH ASSOCIATES
Researching the Right for progressive changemakers

A Brief History of Federal Reserve Audits
Since its inception in 1913 the Federal Reserve System has been subjected to a variety of financial and performance audits by Congress, the executive branch, and private accounting firms, although responsibility for this task has shifted from time to time. From 1913 to 1921 the Board of Governors, then known as the Federal Reserve Board which sets monetary policy and regulates the activities of the Federal Reserve Banks, was audited annually by the U.S. Treasury Department.  In 1921 Congress created the Government Accounting Office (GAO) and assigned it to audit the Board until 1933.  In the Banking Act of 1933, Congress voted specifically to remove the Board from the GAO’s jurisdiction.  From 1933 to 1952 audit teams from the twelve Federal Reserve Banks performed the annual examination of the BOG’s books.  From 1952 to 1978, the Board, under authorization from Congress, decided to employ nationally recognize accounting firms to conduct the audits of itself to insure independent oversight.  This provided an external evaluation of the adequacy and effectiveness of the examination procedures.1
In 1978 Congress passed the Federal Banking Agency Audit Act (31 USCA §714).  It placed the Federal Reserve System back under the auditing authority of the GAO.  The Act significantly increased the access of the GAO to the Federal Reserve Banks, the Board, and the Federal Open Market Committee (the FOMC). Since then, the GAO has conducted over 100 financial audits and performance audits of the three Federal Reserve bodies.3

By Napolean DoneHisPart, December 7 at 6:40 pm Link to this comment

“Notice the FED stamp- a bird perched ON the shield.”

“Then notice the silhouette of the eagle behind the shield right of Lincoln’s mug.”

“The FED is ON / OVER the U.S.A., Inc… hidden in plain view.” 

“Would folks then be able to see who the FED is if they were to look at that five dollar bill, the one with red colors on it.”

“Would folks ‘feel’ better if I changed by name and picture to Goofy?”

———————————————————————
————————————————————————————-

I don’t know about the folks, but goofy seems to be a good name to me. I kind of like the picture you use though, did it come from a High School Textbook?

So the U.S. Department of the Treasury which designs and prints the bills is colluding with the Federal Reserve to show the world that the Federal Reserve owns the country, have I got that right? They must be having a good chuckle over that one.

Why is Eugene Robinson still writing for Truthdig? I thought it was a progressive site?

Very nice Anarcissie, thank you… that’s exactly how the show goes.

JDmysticDJ, surely you must be jesting.

Why don’t we compare another dead historical figure who’s role in history has been downplayed to that of tyrant and maniac ( which he surely may have been ) and ignore the triumph over monarch rule ( which is still at-hand today ) and play them against a living figure of today, notably a key plutocrat at the helm of the Slave Machine?... yeah, and let’s also hear a bedtime story while we’re at it, read by Cheney…

Would folks ‘feel’ better if I changed by name and picture to Goofy?

Would folks ‘feel’ better if they were told other bedtime stories like those found in U.S. history books? 

Would folks then be able to see who the FED is if they were to look at that five dollar bill, the one with red colors on it.

Notice the FED stamp- a bird perched ON the shield.

Then notice the silhouette of the eagle behind the shield right of Lincoln’s mug.

The FED is ON / OVER the U.S.A., Inc… hidden in plain view. 

Try to find out who the owners of the FED are… for it NEVER has been published… oh, and where is that “Audit the FED” bill?  The Ron Paul one, remember that one?  And where is Kucinich on this matter?

Hello?

Bueller?

Napolean DoneHisPart, December 7 at 3:45 pm:

‘... Who is TD’s core reading audience? ...’

My theory is that a major part of TD’s stock in trade is the publication of ludicrously outrageous bullcrappings from the shills of the Established Order, which the proggie folk then get to snarl over and tear to pieces.  When they tire of this they can be given Hedges, who rebukes them for the sin of not being proggie enough.  Then a little nap, and they’re ready to go again!

I like word play. Hum…? I’m trying to decide which is most clever, light hearted, and intentionally self deprecating.. Would it be, “Thankee Bernanke” or “Napoleon DoneHisPart”? Hum…? Bernanke being the head of the Fed; doesn’t play well. Napoleon on the other hand was a war mongering, rotten gutted, little tyrant… So I’m leaning towards “Thankee Bernanke.”

(No offense to little people intended, some of my best friends are little people. Also, I’m aware of this Napoleon complex deal, so I don’t want to have to defend myself against a bunch of pissed off little people.)

‘Someday, I’m convinced, a grateful nation will say: “Thankee, Bernanke.”’

How much do you get to write such brown nosing stuff, Eugene?  With this article, you are sure to get Shill of the Year from the FED, that privately owned fiat printer and economy manipulator.

“..but at least he has the courage to try—and the honesty to tell the truth.”

The only truth Bernanke spouted was what cannot be ignored by economists ( the numbers ), but that man is no more truth teller than your left foot.

Can we have an economist write their take on Bernanke’s words and performance and not some obvious SHILL?1

Who is TD’s core reading audience?  Retired rednecks with no education who’ve somehow ‘discovered’ the internet last year and this ‘truth telling’ political website just this week? 

If so, then manipulated media is just what the doctor ordered.

Neo-Feudalism Here We Come!