Federal Reserve to gain more power

The treasury department is scheduled to propose a plan that will expand the Federal Reserve's power to the financial industry as a whole, as opposed to just having power over the banking industry. I truly hope I'm not the only one that sees a problem with only one entity having full regulatory power over the WHOLE U.S., if not global economy.

www.cnn.com...

reply to post by PX Iceman


Perhaps this is finally a post worth screaming "NWO!" over. That's a fairly disturbing idea, if it does work as you suggest, however the news report itself doesn't say that they'll be given full economic control.

It sounds like it's being given the power to oversee and suggest changes to the economy, but not directly control the economy. I could be wrong.

I'm not really against having one well organised group in charge of monitoring the economy and suggesting changes to prevent economic collapse, but if they are able to simply 'control' things the way they want, regardless of how the free market wants, then that could be bad.

Then again, it's not my country. @_@ So what do I know?