Tragedy and Hope; The Federal Reseve - Part 2

“For more than a century, ideological extremists at either end of the political spectrum have seized upon well-publicized incidents to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as ‘internationalists’ and of conspiring with others around the world to build a more integrated global political and economic structure - one world, if you will. If that’s the charge, I stand guilty, and I am proud of it.” David Rockefeller, Memoirs, 2002

I previously posted on this subject that the Federal Reserve System is a privately held corporation made up of world wide banking interests. The Federal Reserve controls the nations economy and monetary system, yet it is accountable to no one. It has no budget, it is not subject to audit, and has no congressional oversight capable of supervising its operations.

If you recall, one of the member banks of the Fed is JP Morgan Chase. You may also recall the Fed recently agreed to bail out failing financial super giant Bear Stearns by ‘lending’ $30,000,000,000.00 (billion) dollars to JP Morgan Chase for the bailout purchase. Think about that a moment. A privately held corporation with a mandate from Congress to print money, has agreed to ‘lend’ money to one of it’s members for the purpose of bailing out a publicly traded company on Wall Street. Who do you think is paying the interest on that ‘loan’? We are, the American tax payer. In the end, JP Morgan will own whatever might remain of the 89 year old Bear Stearns and We The People will pick up the tab. It gets even better. The way in which this deal was structured, the Federal Reserve will acquire any residual value or equity remaining in Bear Stearns over the $30,000,000,000.00 (billion) purchase. It is actually a little more convoluted then that. There is a third party Delaware corporation being formed to funnel the money through. The purpose of the corporation is to manage the sale and liquidate assets.

 If the United States were a third world country I suspect we would be on the verge of a revolution or coupe.

“All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation.”  John Adams