Well said. The Monster from Jekyll Island is the book – I think that's the title – that lays bare the machinations necessary to create this fraudulent banking entity. Knox was the Secretary of State(?) that signed off on the 16th amendment without the necessary ratification the 3/4 of the states. Check it out. We have duped long enough.

The best way to get ri of the Fed chairman would be to get rid of the Fed altogether

I am all in favor of dumping Bernanke–he is an incompetent dunderhead. Unfortunately, I am sure that ultimately he will be confirmed by the Senate, since there will be too much fear on both sides of the aisle that failure to confirm would lead to financial instability. Remember how the market plunged when the first round of bailouts in 2008 was voted down.

We just keep kicking the can down the road in this nation of ours. Sooner or later, the day of reckoning will come–the longer we delay it, the worse it will be when it happens.

The Monster from Jekyl Island; it is funny that that particular piece of legislation was passed in the dark of night (on Christmas Eve I believe) in 1913. The ideas behind the Federal Reserve, grew from, and were put forth from the old Warburg banking family, from Germany.

The FED is a private corporation, whose books have never been opened or available for inspection to the public. From the time we went totally off the Gold Standard in 1973, it has been all downhill from there, where the FED essentially prints worthless specie, that is backed by nothing except "The Full Faith and Credit of The United States of America".

.

Even though we may face market instability, I think we need to bite the bullet and dump Bernanke. Bernanke was only part of the solution when his "pants were on the ground" along with his credibility. Until that time he was certainly part of the problem. I believe the ONLY way his job should be saved is "if" and "when" Bernanke will agree to fully, completely and immediatly surrender to A) the Ron Paul House bill for a full audit of the Federal Reserve as well as B) the Bill presented by I believe Bernie Saunders from Vermont which calls for full and complete disclosure of the names and amounts any and all monies and guarantees said banks recieved on their behalf from the Fed. Reserve.

In essence. if Bernanke will agree to full, complete and immediate transparency with both houses of Congress then he can keep his job for only one more term.

The "federal" Reserve Bank sucks canal water! It is an imposter! It is not looking only after intersts, but other nations as well. For example, Geithner gave…gave France & Germany $5 billion to bail out their auto industries. And, no strings attached! While Mr Obama's Govt buys out our failing GM Auto Co.

I believe but can't document the idea that Pres. Lincoln was shot because he didn't "hook up" with Elite East Coast Bankers. He forgave the Southern War Debt. He issued US Govt currency, not Private Bankers' Currencies or systems.

There isn't enough currency to pay off our Nat'l Debt, as no currency is made available to pay off the interest portion of the debt. In the meantime, Hillary has catered to Communist China for a Loan and they are probably involved in "federal" Reserve system.

If someone believes that the Fed is a US Govt institution, simply look them up in the phone book, under 'US GOVT" Offices….They are not listed.

Then came the Graduated Income Tax…

That and a privately controlled banking system were goals of Marxism.

I wonder who obama would nominate in his place. Maybe Janet Napolitano? I hear Van Jones is looking for a job. Or Larry Summers? The obama talent pool is just so large.

Thanks for the great post…Boy, did "We the people"
sit on our hands way too long!!…It's time to vote in
people that will try to dismantle some of the crap
that was passed years ago, and recently…

I'm in agreement with the crowd that believes the FED/RES is an organization that first serves the worlds ultra-elite and their agenda. I watched Bernanke squirm and parse words when asked in hearings about constitutional authority for many of their actions over the past year. I would be happy to see the FED/RES powers diminished tremendously. BUT – I think that's missing the core point. It's the financial system that they enabled and practice that is the most damaging to our country. Bretton-Woods is a debt based system. If every debt was paid off in full there would be zero dollars in our economy. Our economy's health depending on debt inevitably puts the FED/GOV in opposition to the basic financial principles that our individual families must practice to build wealth. FED/GOV must choose to promote you and I being in debt in order for the Bretton-Woods financial system to be healthy. IT'S A PONZIE SCHEME, no different than Madoff's was except it was legalized in 1913. Ponzie schemes cannot survive forever, they inevitably will fail. Usually right after it has sucked all the wealth from the fools who believe in it.

You are absolutely correct in one respect, regarding Ponzi schemes. Social Security and Medi-care are Ponzi schemes. They are social compacts, made with citizens, and are a promise to pay, at a future date and time, yet to be reached. When Social Security was conceived, the reason the mandatory retirement age was set at 65, was because the average American died at about 60, or 62 years of age. Slick, eh?

The problem now is, people have outlived the money, all due to a great healthcare system. Now you know, why under Obamacare, there will be death panels. To reduce those eligible for Social Security. Gotta hand it to those Government tyoes, eh> They are slicker than snot on a greased doorhandle.

In my state, it's useless to call my US Senators, but I did anyway (Durbin and Burris, Illinois) to tell them to support (I think) Demint's "Hold" on the Bernake confirmation vote UNTIL the "Audit the Fed" measure is a done deal. Burris' office confirmed they're getting a flood of calls on the issue, nearly all in favor of blocking the confirmation vote pending a favorable audit decision. Info on this came into my e-mail from Campaign for Liberty – sorry I don't have the particulars on hand (or in mind), as I deleted the e-mail after making my calls, but anyone interested in adding to the weight of the confirmation block should be able to find the data with a Google (or BINK) search. Good luck to all of us with this.

On the other hand, everything that has been done for the past 18 months has only prolonged the implosion of this very fragile Ponzi scheme–and we all know it. Even after pouring all that tax money into Wall St, the market fell anyway. A lot of folks don't know this but before the Great Depression, the market rallied above 20% of their lows 5x before the bottom finally gave out. China says there's not enough in the world to buy up US debt. There's talk of DC taking control of 401k plans ala Argentina because the US can't sell Treasury bonds and they desperately need revenue streams.
http://www.sprott.com/Docs/MarketsataGlance/12_20...

No, kicking this down the road doesn't kick it to "somebody else"…those somebodies are our kids…and our grandkids.There's some hard days ahead of us, we should get busy doing what needs doing. I hear you about picking our battles but we're geared up like we haven't been in 200 years.

In for a penny in for a pound.

For all of the praises heaped upon Bernanke about what an expert he is on the Great Depression, he sure missed the mark on what led up the financial meltdown of our time. And he should not have missed it–that was his job. There were economists aplenty waving red flags, jumping up and down and shouting warnings from the mountain tops as early as 2001 that we were headed for catastrophe and needed to tack another course.

For all of his expertise, seems the only-and I do mean ONLY-winner has been Goldman Sachs.

Story told by an Economics Professor at UC Irvine 30 years ago:

"Think about it. Our steel industry is declining and we've shipped it overseas along with some other industry based productions. But along with that, we've shipped the pollution as well. In return we give them the US Dollar, or little pieces of paper. So we get oil, thereby reserving our stores of oil, we get steel and other products that we need and they get little pieces of paper. Pieces of paper, by the way, that those countries then turn around and invest back into our economy. And we don't have the problems of production. What happens if we decided not to honor those little pieces of paper? (Imagine a grizzled old professor extending his middle finger.)
At the end of the day, all they have are little pieces of paper. It's a beautiful strategy and win-win for us."

I heard that story 2nd hand so it is paraphrased. I'm sure the gentleman was far more eloquent in his prescient telling. I've been thinking about that story a lot lately.

a little of both ! but the word "overthrow" is ( serious ).

Your story is the perfect analogy, and illustration.
Little pieces of paper.
"Backed by the Full Faith and Credit of The United States of America."

And "they" ridiculed Ken Lay and Bernie Madoff? Those guys were pikers compared to the Government.

BwaaaaHaaaaHaaaaa!!!!!!!!!!!!!!

Love your handle sir!

And Thanks for your service!

hey, hey now, some of us are just too lazy to shave!!!

I disagree.
The muppets are certainly more intelligent than the current cabal of criminal, corpulent, crass, creatins.

The lid blew off in Massachusetts last Tuesday. The cloud of dust seen over the Capitol is being created by a panicked congress racing to 'moral high ground'. They will throw anyone under the bus to save their own skins.

Good post spot on.

Charles Krauthammer is the best.

He is. Makes the right point very well with a sense of humor, although a dry one. – I sometimes wonder if I get such a kick out of him because he reminds me of Monk :~}

Here is what is going to happen with Bernanke: He will get grilled by the senate (which will involve lots of grandstanding, what did you dos??, a lot of moving deserved blame on them to him, lots of feigned outrage and fist pounding and then they will send him back home to the fed.

Something like "The people are disgusted and frustrated by the fat cat wall streeters…"

Relatedly, anyone notice the re emergence of Paul Volcker?

JOHN B. TAYLOR FOR FED CHAIRMAN!!!!!!!!!!!

Taylor would be a clear signal to investors, small businesses and the Tea Party Movement that Obama is serious.

Read his WSJ Op-Ed here. http://online.wsj.com/article/SB40001424052748703...

Enoughallready~

I am an advocate of voting for the lessor of 2 evils until we have like minded members in Congress who are representing their constituents. Yes, the good thing about Obama's admin is it woke us up. We needed to be awakened.

In this thread, I was speaking specifically about Bernanke's re-confirmation to the Fed. I not only say no, but "Hell NO!" I reject that he is the only man on the planet that can lead us out of the financial meltdown.

There is a scene in the movie "All The President's Men" where the Bob Woodward character is on the phone to "DeepThroat". He is incredulous about the abject stupidity of the Watergate caper. DeepThroat says to Bob Woodward:
"You're mistake is in assuming that these are very bright men and they just are not. These are very ordinary men." (Something like that.)

It is the same here. We assume that those in DC are somehow gifted and brighter than ordinary folks but they're not. They put on their pants one leg at a time just like us. Their mistakes are brilliantly more colossal than ours.

Those extraordinarily brilliant whiz kids who devised the credit derivative swaps couldn't even explain to each other how it worked exactly. Bernanke should have been the wise old man playing gatekeeper to prevent it. Because he didn't….he should go down in history as a failure. Because he is. He failed at his job. Instead, because all his life's investment is in Goldman Sachs. He'll do just fine.

We CANNOT continue to just hold our noses and hope for the lesser of two evils. If Obama is incapable of appointing someone "worthy" of controlling the Fed, then so be-it. If the Fed doesn't have a chairman for the next 3 years, who cares! Either the right people are put in place, or no people. The market will take a hit regardless. Stop buying into the scare tactics. Besides, if your worried about the market taking a hit, then you need to give Obama a call, and tell him to stop talking…!

We HAVE to get out of the lesser of two evils mindset. NO MORE…!

No.
I don't.
There is nothing respectable or heroic about any of them. I rank politicians right down there with IRS agents. They are lower than whale shit.

In my opinion, they ONLY reason one becomes a politician, is they are too lazy, too uneducated, or too incapable to work for a living. Look at the Kennedy Dynasty. That was always their "higher calling". What a crock of bull. It was an easy way to milk the suckers and saps.

1st reaction – it sounds much better than where we are now.
but then the thought of my some of my relatives getting their call to duty is pretty scary. Their cluelessness is damaging enough on the small scale of just a family. Just not sure I'd want to grow that scale any.

You might be right, I've been thinking about this for a bit today and voting for the lesser of 2 evils has America where we are now.. In Fact most here voted for John McCain the lesser of 2 evils and I think if we look back to our votes and knowing what we know now we all should have voted for Obama.. Think about it for a bit, If McCain had won would we have the LARGE movement or would it have been reduced with less power and passion that it has grown to be?? The liberal progressives wouldn't of had closed door meetings ( McCain may have vetoed if so ) and they would have worked some what with the republican progressives, we could be sitting here talking about how bad the health care bill is that McCain signed into law.. Bottom line is if McCain had won Brown most likely wouldn't have!!
We still need to change the congress with like minded members that will look at the constitution first rather then let the courts decide after they pass un-constitutional laws, without this we will be here 10 years from now screaming about the same issues, IE: choose our battles wisely !!

I write to my Senators every day.

Dear Bob Casey & Arlen Specter

…………………Please hang yourself………………………..

……………………………………………Thank You…………………………………………

AMEN!!

We need to take them all..The president has lied too many times, and our money was being spent time after time. He needs to get out there…money we don't even have was printed. Now the president is changing his tone alittle. Who is fooling. He is still up to his stuff.So,what makes you think this man is not. He is worth less.Get him out.