Below, you’ll find the Reasoning & Rationale to what we call a Bill-Request. Once certain milestones are met, as defined HERE, lawyers will be called upon to draft what will then become a Bill-Demand to Congress and the President.
Published in 2015
A call to Audit the Federal Reserve System, the New York Fed and its Permanent Open Market Operations desk, and all Auction activity — of real estate & property included — conducted by Treasury and any extension thereof.
This Bill-Request is a design to deny the structure at 33 Liberty Street aka the New York Fed – an entity able to dole out public finances privately, and the vehicle of choice for the unelected to conduct big-buck black-ops with the People’s money covertly – its narcotic prescription of vast and broad-based secrecy, and, by so doing, deny business-as-usual to the usual suspects, all Wall Street owners of the New York Fed, who have grown increasingly accustomed to partying on the People’s dime invisibly.
And while we’re at it, let’s also tell Americans everything the International Monetary Fund is doing with the contributions the U.S. government makes to it, in lion’s share, year after year, especially as it pertains to bailouts of bankers all over the globe.
As we wrote elsewhere on this site:
The IMF’s purpose is to bail out bankers who’d recklessly and intentionally over-lent to countries, leaving those countries unable to service that debt. Reckless over-lending, at a premium yield to the credit-unworthy especially, is great for banker bonuses. (That’s why they loved Greece’s inclusion in the Eurozone, even if it took bogus accounting with a derivatives-based makeover by Goldman Sachs to get there. That’s why they loved, and continue to love over-lending to subprime borrowers, whether it be for houses or cars they know the borrowers cannot afford. As Jamie Dimon, the CEO of JP Morgan Chase wrote in a letter to shareholders: “Low quality revenue is easy to produce, particularly in financial services. Poorly underwritten loans represent income today and losses tomorrow.” But why worry about the “losses tomorrow” when there’s the taxpayer there, offered on a platter for the rescue, right?)
Anyway, the IMF buys the unserviceable debt of countries at a premium from the bankers, and then — with all its might — bullies those countries into submission to whatever austerity the IMF deems necessary. Sometimes sales of lands and assets and utilities at a discount have been ordered as repayment.
In 2009, when much of the banking universe abroad was in dire need of bailout funds, the Obama Administration would attach a $108 billion increase in funding for the IMF to a $91 billion supplemental wartime spending bill. Uh-huh, the appropriation to the International Bailout Fund (yes, the IMF should rename itself the IBF) was bigger than the appropriation for war, even though the bill was designated for defense.
In voting for the $108 billion IMF attachment, the chairman of the Senate Foreign Relations Committee, John Kerry, a former Democratic Party presidential candidate and future Obama Secretary of State, said: “Economic growth abroad helps us kick economic growth into gear here at home.” What Kerry wanted to say (but couldn’t) was: Bank bailouts happening abroad, helps us avoid bank bailouts happening here at home.
Hence the need to Audit the Fed and Probe the IMF.
Now, to look under the armpit of the Fed and the IMF, to see at least one of the many skunks hiding there:
The G30 — comprised of private bankers, central bankers, gov’t officials, etc — is an organization few know much about. Its composition can be found here: Members. Ok, with that said, now onto the point we want to make… The Federal Reserve’s officers are de facto officials of the U.S. Government. They are thus forbidden from cozying up to private bankers in closed-door settings. There are literally Trillions of reasons/dollars as to why these canoodling shindigs should never happen. Yet the Fed gets around this never-say-never ‘inconvenience’ by dispatching the head of the New York Fed to secretive meetings of the G30. The Fed’s excuse: the NY Fed is private, not public. Never mind that the NY Fed-head is also vice-chair of the FOMC, which happens to be a U.S. gov’t entity. Never mind too that the NY Fed was, for Wall Street, Grand Central Station for the handout of bailouts in 2008, 2009, and beyond, and will be again in 2018/2019 when the next mega banking crisis comes calling. Congress should put a stop to this insidious G30 by-pass/go-around!
You’ve just read the short description to the Reasoning & Rationale for this Bill-Request. If that’s enough for you to vote in support of it, please do. If there’s more you’d like to have to make up your mind, then you’ll find the long description HERE.