I am re-posting some of this information, and building other video resources to inform the readers. I am more convinced than ever that significant forces of greed are at work. And I am further convinced that the majority of those in Congress are oblivious to the effects of the laws in which they create. I believe their bias is to “help” to US Citizenry through their own law creation and “regulation”. There are a few article excepts and 3 different video series in this post. A reader could watch them in this order to create a better basis of understanding.
1) Money as Debt
2) Edward Griffin videos – The Creature from Jekyll Island
3) Zeitgeist – The Movie – Federal Reserve
There is now talk by President Obama to have The Central Bank of the US (private organization) become “macroprudential” and “oversee” the system. The Fed will take control of regulation and be the primary agency to impose regulatory practices and sanctions. Furthermore, this of course “does not sit well with the bankers nor some members of Congress.”
This is EXACTLY the same “reaction” which occurred when the Federal Reserve Act of 1913 was created. This is another amazing ruse thrust upon the American People. And we as a collective don’t have the understanding, education, or discipline to rise against this threat.
What are the new changes in financial regulation? First and foremost, President Obama wants to expand the powers of the Federal Reserve to assume primary responsibility for averting an new financial crisis.
Secondly, he wants to create a “council of financial regulators” who would improve coordination among agencies. The council would discuss systemic risks, but the Fed could at alone without its approval.
The administration has decided not to consolidate regulatory agencies due to the political fallout involved.
Another cornerstone of his program includes the reform of securitization markets and the now famous “say to pay” in which shareholders and regulators assess risks induced by compensation policies. In simple terms, shareholders could vote to control executive compensation.
Next, the FDIC would be granted special powers to wind down complex financial institutions, which would avoid Congress having to make these decisions.
With all of this rush to regulation, the S&P credit rating agency took the initiative and cut the ratings on 22 banks on Wednesday.
So then to summarize, the Fed will take control of regulation and be the primary agency to impose regulatory practices and sanctions. This of course, does not sit well with the bankers nor some members of Congress. The term used to describe the Fed’s powers is “macroprudential.” By the way, the government tends to invent new words when it wants to smooth over a major change in policy.
Should the Fed be granted these new powers?
Prior to watching these videos understand:
The Federal Reserve System was created, in 1913, for many reasons, but the underlying one was that people no longer trusted private bankers to shepherd the financial markets. Prior to the Fed’s founding, the government had had no effective weapon to temper the country’s economic cycles, nor was there much it could do to ease the periodic crises that afflicted Wall Street. Too often, the government had had to go hat in hand to a private banker for help. By the Progressive Era, with its suspicion of trusts and its faith in regulation, people wanted a bank that would represent the public interest. Ever since, the Fed has been a public servant but one that works in close proximity to private banks and to Wall Street. It is a delicate role, for the Fed is supposed to regulate banking but not to shelter bankers. It must protect the functioning of markets without appearing to be too protective of the banks it watches over.
– When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein
Money as Debt – This 47 minute will give a great basis for understanding a system in which we taken for granted.
Also, consider reading this fantastic book. The Creature From Jekyll Island: A Second Look At the Federal Reserve
And here is video 1 of 12 by the author of The Creature from Jekyll Island.
These are much more inflammatory, but well worth the viewers time.
Part 1 of 5
The Federal Reserve Movie: Part 2 of 5 This is good stuff, it make one think about what he/she judge as real.
The Movie: Federal Reserve. Part 3 of 5. Pretty strong, eh? Beware, this may cause you anger, yet hopefully not against me.
The Movie: Federal Reserve part 4 of 5 television is not the truth. People do what ever the tube tells them. Trading, war, beliefs or purchases
The Movie: Federal Reserve part 5 of 5 Read the book Spychips. Protection from “Database You” corruption is necessary.