Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism

Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism

cryptogon.com

Congressional audits of monetary policy could “cause the markets and the public to lose confidence in the independence of the judgments of the Federal Reserve,” Alvarez told the House Financial Services Committee today in response to a question from Representative Dennis Moore, a Kansas Democrat. Alvarez said in his prepared remarks the audits would probably “chill” the central bank’s discussions on interest rates.

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I think Barny Frank's comments at the end are very telling that the House Banking committee that he is chair of is in the pocket of the FED. I know that Congressman Frank signed on as a Co-Sponsor on the audit the fed bill HR 1207 but that was just a ruse in my opinion. His statement here is clear proof of his immediate back-peddling on the issue in the heat of the fight.

cryptogon.com
(visit the link for the full news article)

[edit on 26-9-2009 by wayouttheredude]

Originally posted by wayouttheredude

I think Barny Frank's comments at the end are very telling that the House Banking committee that he is chair of is in the pocket of the FED. I know that Congressman Frank signed on as a Co-Sponsor on the audit the fed bill HR 1207 but that was just a ruse in my opinion. His statement here is clear proof of his immediate back-peddling on the issue in the heat of the fight.

cryptogon.com
(visit the link for the full news article)

[edit on 26-9-2009 by wayouttheredude]

Agreed Barney Frank is a shill. He is going to try to water down Ron Paul's bill until it's nothing.

Frank kept thanking Mr.Alvarez for his cooperation and how nice it is that the fed is working with congress. Anyone who watched the hearing knows this is a load of malarkey.



[edit on 26-9-2009 by lucentenigma]

Me thinks they don't like being audited!!!!!

Barney Frank is only as solid as a pile of feces.

What you USAmericans ought to do is:

arrest and imprison the top 2% (in terms of wealth) of your population and seizing all of their assets and distributing the financial assets among the rest of your citizenry in the bottom 65%.

Also, seize the assets of all foreign owned businesses in the USA.

Since, the Constitution has been abrogated and provisions of the Magna Charta nullified etc etc etc, why shouldn't the Public just go for broke and stick it to the pigs at the top.

reply to post by wayouttheredude


and the reason it would 'chill'...
simply because it would show the world that the whole shebang is nothing but a scam. Should we be so lucky that it would show us who's at the top of the ladder?

If they don't come clean, well the repercussions might not be pretty. So either way, they've screwed themselves real good.

reply to post by warrenb


I agree. They have no idea I think that we are very close to marching on Washington with 10's of millions of open carry citizens at this point and putting the whole bunch of them in prison. If they will not come clean by law and address our grievances willingly they will have to be brought to account by the will of the people in exercise of our second amendment rights.

They have never seen the people this angry but I fear they have seen nothing as yet as will be to come of they refuse our petition for redress of this grievance. We will have the FED audited or this group in the house at present hits the curb in the next election. If that bunch will not enact our will then it is pandemonium I am afraid.

[edit on 26-9-2009 by wayouttheredude]

reply to post by wayouttheredude


Technically speaking, he is correct!

He just omits the reason as to why they would lose confidence.

Originally posted by warrenb
reply to post by wayouttheredude

 

and the reason it would 'chill'...
simply because it would show the world that the whole shebang is nothing but a scam. Should we be so lucky that it would show us who's at the top of the ladder?

If they don't come clean, well the repercussions might not be pretty. So either way, they've screwed themselves real good.

i think it is a more ominous of a warning then that. the depths of turmoil if they crash the economy, would make this current recession look like a blip on the screen. in this current state of finances, the poor and the middle class are the people that would be hit with unbelieveable grief and hardship, and this country could possibly fall into anarchy.

the sensible way to go about this is to put into law, restrictive legislation that corrects the massive greed inherent with the present day financial markets. why?...wealthy people can move themselves and their fortunes very quickly, and other governments would be on their knees, inviting them to come live and work in their respective countries, if the SHTF.

right now the wealthy have us over a barrel, they know it, the fed knows it, the congress and president know it.

face it, the mega-wealthy of this world are the first in line to collect on their losses.

[edit on 26-9-2009 by jimmyx]

[edit on 26-9-2009 by jimmyx]

[edit on 26-9-2009 by jimmyx]

Every time some one mentions the FED I get a sick feeling in my gut. I hate how they seem to be, and probably believe, they are above the law. It seems like the audit could finally be the beginning of the end of a dark storm.

reply to post by jimmyx


I fail to see how auditing the FED will automatically trigger a systemic collapse of our financial system, much less bring anarchy! If people cheat they need to be held accountable. If the system is not working properly then it needs to be fixed.

Sure people might temporarily lose faith when they discover its a huge pyramid scheme orchestrated by a few elite(if the investigation reaches that far), but on the other hand ignoring the problem will not make it go away. The politicians who created this mess need to figure out an honest and viable solution, less they become the target of mob intervention.

I think we should save the Fed! It's highly destructive, manipulative, decietful and abuses it's power with near total impunity with no thought to it ever being held accountable!

It represents everything America has come to stand for and represent!

Who needs mom, apple pies, and Chevrolets?

The Fed would like to know since it owns and sells them all now!

Speak up!

We here in America need to learn to be proud of our accomplishments to take stock in the fact that we have scammed the whole world and who we haven't scammed we have bombed to the stone age!

Sure it's not what the founders envisioned. It's not what you were lied to about in your text books! But hey it's something!

Now lets just stop all this crazy talk and go out and buy I love the Fed t-shirt and show the world we Americans might have no morals but we got plenty of pride oh and made in China I love the Fed t-shirts!

The above was not a paid for message by I love the Fed Inc. ® Nor the Federal Reserve LLC.

He just got an arse whooping if i'm allowed to say that

economic terroism, so who's the terroist?
what is terroism?
Isn't it getting what you want by instlliing fear into the people?
like threatening economic terroism?

hello!!!

That's their foremost worry, that the public will lose confidence in the Fed?

Did I miss something?

Was there any before? Is there any now?

Of course they need our confidence - can't have a confidence job without a good con.

It is still a wonder to me that people (in general) don't seem to grasp the moral hazard involved with allowing the Fed to exist. The word parsing and verbal tomfoolery of some of the committee was embarrassing to witness.

Of key in considering the fate of the Fed is not what they say they are doing, or what they contend they are charged with, or the confidence, almost faith, they simply demand to execute their "policy". What I believe is necessary is something that is being purposefully ignored and utterly side-stepped.

The creation of the Fed, the conspiratorial way it was introduced, after it's initial rejection, and its overt manipulation of the public media were harbingers of the intent behind the institution.

While the ideal would be some magical way to eliminate political influence from the business of managing the economy, the Fed is equally, if not more susceptible to influences even less accountable to the people. And the truth of that statement should be self-evident.

Remember the scenarios upon which people based entertainment shows where the President was a madman or some such thing with his finger poised on 'the button'. The Fed has it's own button, and the threat of its power has been held against the political body for a very long count of years. There are questions that certainly can't be asked, because the government 'went along' with it - each government term has lived with it, and left it be. Political complicity is necessary to engender this kind of profiteering. While many would be paper heroes will feign a rallying cry, even they know that their very foundation, the party itself, will not sit idly by while it becomes clearer and clearer that their innermost core either looked the other way, or lacked the moral courage to fight them.

During the existence of the Fed, secret members held close the secret of the true nature of market manipulation, and how they have created an empire siphoning off the wealth of this nation..., and this holds equally true for many of our G20 friends and others.

The Central Banking cartel is now a supranational powerhouse. And we are only interfering with one of its limbs.

My fear is that they will create exactly whatever scenario they need to ensure that the abuses of their membership never see the light of day.

And we will allow this continued conspiracy of silence to go on, lest they punish us further.

Who is the Fed? Who are her 'members' (all of them)? Where is our gold? What axiomatic principle of mathemagic have they invoked like some spell over sane minds to make politicians believe that private bankers were worthy of such 'freedom' and 'independence'? And how did that become 'secrecy?'

When the Banking cartel is privy to the underpinnings of global economic mechanics, but the rest of the market is not, is the market truly 'free'? How can anyone know? The Fed is basically saying that it works because of their secrecy. I don't know about the rest of the world, but by my reasoning leads me to think that is akin to a magician asking you to turn around so you can't see him actually perform his 'trick.'

I suspect that at a very fundamental level the international banking community is one entity; and the Fed is simply a cover, a mask, covering the final destination of the trillions (if you want to call them dollars) which no one seems to know about - other than they are missing.

I may not be an economist, and I may not be a mathematician, but know that the numbers they present, no matter how they are couched, seems at odds with the reality of the 'service' the Fed is supposed o be providing. The same can be said of Central Banks in general... just ask the folks in Iceland.

[edit on 26-9-2009 by Maxmars]

It seems that Barney Frank has a hidden agenda in mind. He wants to audit the fed. He doesn't want to end the independence of the fed. He's caving too easily to them. We must hold the fed to accountability here.

I know without a doubt that if any of us had the attention of the political powers of the nation and the ear of the press and had no actual political position and could not be elected or unelected for that matter and we were to threaten to destabilize the economy of the nation if our books were looked at we would be considered terrorists or extortionist at the very least. That is the situation with the Federal Reserve. It is a conspiracy to keep tight hold on the reigns of real power. The only real power in the world as far as government is concerned is the power of printing money.

They have it and they keep tight hold of it and have immense power to damage their political enemies as well as destroy the economy at large. This kind of concentration of influence with zero accountability to the people is simply not tolerable in a republic such as ours. It is an abomination to allow it to continue to exist of course but the first step is to know exactly what they are up to. They know this is the key in the lock to open a door they do not want to allow access to ever. I think they will do what ever it takes to keep that door locked for as long as they can.

These people have forgotten who they are supposed to be working for. The American people have every right to know what they are doing with the money they have been entrusted with. It's like an employee emptying the accounts of a business and rufusing to tell their boss where the money went because he might lose confidence if he knew what it was spent on. The American people should not stand for this kind of behaviour from their employees.

reply to post by wayouttheredude


It seems you are absolutely correct! I doubt congress will ever touch them, either because they can't or simply because they don't want to.

One should break this down much further! Why can't they or why don't they want to? After doing some research on the FED I discovered that throughout american history many presidents knew about the scam and a few even managed to rid the parasites, only to have their actions revoked soon after.

The real issue here is that the US government has unconstitutionally delegated the control of money to the worlds largest private banking cartel while the US Treasury is only responsible for printing the money. Nothing more and nothing less. The FED then pays the US Treasury a small fee for its service, while ultimately keeping possesion of the currency to itself. Then they are free to LOAN THEIR MONEY to the government and commercial banks at an interest rate of their choice(known as the prime rate), who then loan the money to corporations and the public.

In other words, everyone(including the government) IS BUYING/BORROWING MONEY from the Federal Reserve and paying them the accrued interest. What a scam!!!

Do I understand this correctly?

Theoretically, in a fair democracy or republic, the money should belong to a nation and its people, via the government which should be our caretakers.

In practice, however, the money belongs to a few banking cartels, and thus everyone is subservient to them. This must be the "secret governemnt" everyone is talking about. Zero accountability to anyone!

The following quote, apparently by Mayer Amschel Rothschild's own submission, sums it up perfectly:

"Let me issue and control a nation's money, and I care not who writes its laws" (1743-1812)

Can anyone confirm he said this or is it just hearsay