Activecitizen54's Blog

Audit The Fed Update

Posted in 1 by activecitizen54 on March 10, 2010

Audit The Fed Update

As reported in the Huffington Post the Treasury Department is opposed to the Audit the Fed legislation in process now.  It is imperative that we, the American Citizen, have the ability to audit this Central Banking System now and prepare to destroy it.  If you haven’t followed this issue there is extensive coverage of the Creature From Jeckyl Island contained here or available on any search.

For those who are still unaware; the FED is a cartel of private banks that have driven boom and bust cycles in the United States and globally.  The FED is not United States Government and yet they print our fiat dollars, hold our tax dollars and manipulate the economy.  The FED has a vested interest in War and the Oligarchy is the FED.

A member of Congress, told of the unnamed Treasury official’s comment, asked not to be named and said that Geithner, a former Fed president, should recuse himself from Fed audit legislation discussions, given that the audit would cover his own actions during the crisis.

And Rep. Grayson said he finds Treasury’s opposition to the audit troubling. “There is a growing feeling on the part of real Democrats that the president is getting bad advice from people who have sold out to Wall Street,” said Grayson. “And opposing a measure that passed overwhelmingly in the House with bipartisan support at the [Financial Services] Committee level, based up on legislation that now has 317 cosponsors in the House, shows that the president may be getting bad advice.”

The idea that the Fed’s mission would be undermined by an audit, said Grayson, “is a scarecrow erected by people who want to cover up the actions of the Fed for their own purposes, including those who actually have worked at part of the Fed, to prevent accountability at any cost.”

Geithner served as president of the New York Fed during the financial crisis.

“It’s interesting that the Fed regards the simple fact that people find out what it does as somehow being unduly restrictive. We are a government of laws, not of men,” said Grayson.

“It’s certainly no surprise that banking insiders at Treasury don’t want transparency at the Fed,” said Jesse Benton, a spokesman for Rep. Paul. “They are wrapped up in the central bank shenanagins too, and do not want their wheelings and dealings out in the open any more than Alan Greenspan or Ben Bernanke.”

And we still have Bernanke doing what Bernanke and his Oligarchy does to the economy, the world and manipulates wars.  End the Fed.

Health Care Reform and the American Health Insurance Plans lobby are at opposition as reported by the Huffington post.  Make no mistake about the retribution these monopolies are bringing against the Citizens of the United States as they drive their profits excesses to the brink of crushing the economy of the US.  These vile Corporate Communists have enjoyed a century-long manipulation and monopoly in the Illness Care of the US and have profited off the denial of care, the cherry picking of populations, inflated costs and pumped their Wall Street bottom lines at the expense of every American Citizen and it’s time for this to end.

Although I strongly disagree with mandated health insurance because it’s a bail-out, an open hand-out to the Insurance Companies; I’m holding out hope for a public option to present real competition to these greedy, lying bastards.

Rep Alan Grayson has proposed a public buy-in to Medicare:

The Huffington Post reports via Sam Stein on the Obama speech on Health Care Reform.

We all have motivation now to get active and help insure that Health Care Reform passes in the United States as Rush Limbaugh claims he will leave the country if it passes.  That’s motivation for me to get out and push.

Let’s not forget the conditions of the United States as President Barack H Obama took office from the child of privilege who brought this great nation to third-world status, George W Bush.

The foundations of what is today’s reality is clearly and graphically displayed by Yash Levine’s piece at the Exiledonline.com.  This is a lengthy piece from mid-February but well worth the read.  This “pattern of deception” is exactly what the purchased politicians have done in lying to the United States Citizens and perpetrating fraud against our constitution.  This is much more than Iran-Contra and is most accurately described as building the crack cocaine epidemic in Los Angeles, CA while this liar of a President, the great communicator, was building a “War on Drugs” to insure his market was the only one that survived.

The current conditions in Washington, DC are, if anything, worse than what Iran-Contra demonstrated.  There is no democracy and that’s demonstrated best with the Wall Street and Banking bail-out feeding the Oligarchy that drives the wars in Iraq, Afghanistan and elsewhere globally as the United states spends over half our national budget on military operations.

Here’s a very interesting piece from Bill Moyers and the foundations of the upcoming Depression:

The best way to rob a bank is to own it.  Nothing is more true than that statement.

Also from the Exiledonline.com is a piece on Obamaville in Colorado Springs, CO where the home of American Conservatives and Cults of Jesus Evangelicals is delivering exactly what the Citizens of the United States can come to expect over the next decade if the current trends continue.





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  1. jacksmith said, on March 10, 2010 at 10:04 pm

    From: jacksmith – WorkingClass

    Dennis Kucinich http://www.youtube.com/watch?v=MfuFVm6QdPU

    Rep. Alan Grayson: HR4789 – http://www.youtube.com/watch?v=Wy2Y5Uevisk

    WE THE PEOPLE OF The UNITED STATES – DEMAND!! an up or down vote on a Strong “GOVERNMENT-run” Public Option CHOICE!

    Every member of Congress that fails to openly declare a YES vote for a Strong “GOVERNMENT-run” Public Option CHOICE! before reconciliation or any other healthcare vote, will be branded a NO vote against the Public Option. And a NO! vote against the American People and the World.

    KNOW THIS!! We will RIP you from Office with such political ANGER! and BRUTALITY! that they will hear the Echoes of your parting screams for a 100 YEARS! You have a CHOICE! and AND SO DO WE. The PUBLIC OPTION!!

    The Public Option http://tinyurl.com/yfftf76 http://www.youtube.com/watch?v=Sj54bU0YYnk

    IGNORE THE WILL OF THE AMERICAN PEOPLE AT YOUR PERIL!!

    TAKE THE VOTE! http://www.youtube.com/watch?v=2eob4GJSDKY

    A LINE IN THE SAND –

    Call your representatives and demand an answer. Do you or don’t you support a public option. Do you or don’t support democratic MAJORITY RULE! We DEMAND! to know.

    YOU! are dying and suffering needlessly every day http://seminal.firedoglake.com/diary/27055

    Why we need Government-run universal healthcare ASSURANCE! http://www.youtube.com/watch?v=Jng4TnKqy6A

    My Fellow Americans and People Of The World

    A strong Government-run MEDICARE like Public Option is STILL! CRITICAL!

    We have had a long hard struggle to find out what would be the BEST! that this congress and the Whitehouse could do to fix our highly dangerous, poor quality, most costly, and MOST! disgraceful healthcare delivery system in the world. It is clear that congress can do much more for the American people than what is proposed so far.

    It is clear that congress can pass a strong GOVERNMENT-run public option CHOICE. Available to everyone on day one. Expand Medicare and not levy any new taxes on workers healthcare benefits and plans. LET THIS BE YOUR LINE IN THE SAND!

    Lastly, there can be NO! INDIVIDUAL MANDATES without a strong Government-run MEDICARE like Public Option CHOICE. Or the American people WILL! and SHOULD! revolt with an all out CIVIL WAR against congress and this Government.

    House and Senate progressives and the tri-caucuses should aggressively push for the inclusion of a strong Public Option, Medicare expansion, and no new taxes on workers healthcare benefits and plans. If the obstructionist kill meaningful healthcare reform, it’s failure will be on the obstructionist heads. And they will be punished and replaced.

    WITHOUT A PUBLIC OPTION CHOICE, THIS BILL WILL KILL FAR MORE AMERICANS THAN IT WILL SAVE.

    What is proposed in the Senate compromised bill is the worst case scenario for health-care reform. It would shift trillions of taxpayer, public and private dollars into the hands of the private insurance industry (The single most costly, deadly and dangerous product sold in America). And it would compel by law millions of Americans to financially support this oxymoronic criminal enterprise. You cant have a individual MANDATE WITHOUT A STRONG PUBLIC OPTION CHOICE!

    You will have NO! realistic way of controlling cost and quality. Cost will continue soaring through the roof bleeding the American people dry, and KILLing our economy. And our quality of healthcare will continue to decline below our current ranking of “WORST! quality of healthcare delivery in the developed World”.

    From the very start, the American people have been crystal clear about what they wanted. And the American people are CORRECT!! They wanted a humane single payer system like the rest of the developed world has (HR676). Or at least a humane strong GOVERNMENT-run public option CHOICE!! This is what the American people gave the democrats control of the house, control of the senate, and control of the Whitehouse to do. Including at one time a SUPER MAJORITY in the Senate.

    Those of you that can, should prepare now to remove every member of congress that fails to support YOUR healthcare reform with a strong Public Option, Medicare expansion, and no new taxes on workers healthcare benefits and plans. Run against them in teams if you have to. But take them out. And replace them with a strong single payer or PRO PUBLIC OPTION CHOICE candidate.

    Now! is the time to bring maximum pressure on your members of congress. Contact your representatives and spread the word.

    H1N1 IS A WEAPON OF MASS DESTRUCTION!

    I have to tell you now that the H1N1 virus is a man-made WEAPON OF MASS DESTRUCTION! and TERROR! It is a WEAPONIZED version of a flu virus. It has swept the planet infecting millions. And causing a global pandemic that has killed tens of thousands, and injured millions.

    The H1N1 virus is the product of the DISGRACEFUL, GREED DRIVEN PRIVATE FOR PROFIT MEDICAL INDUSTRIAL COMPLEX! It was released in the U.S. in Texas in early January of last year, but not recognized until around April 2009 in California. The reason I know this is because when it came to America, it came to see me FIRST! How sweet…

    This was around the time the MEDICAL INDUSTRIAL COMPLEX! assaulted the Whitehouse with all their devils deals to cripple and weaken YOUR! healthcare reform. Especially your right to have a single payer system like HR676 (Medicare For All) which most of you wanted.

    They don’t even want you to have your HUGE!!! compromise position of a strong government-run MEDICARE like Public Option CHOICE. To compete with their DISGRACEFUL, GREED DRIVEN, MURDEROUS, PRIVATE FOR PROFIT PRODUCT (The single most costly, deadly and dangerous product sold in America).

    They also wanted to take away your rights to have your government meet it’s responsibility to use it’s full power to regulate, negotiate, and control drug cost, healthcare cost and quality. Something every other civilized country in the developed World has done for it’s people. Their Greed! moral degeneracy and lack of patriotism knows no bounds.

    Many of you will remember that before we knew about H1N1. I posted a open message to the President and Congress warning them to be vigilant about their health, and cautious about any medical advice they received. As I said then “they will not hesitate to try and hurt you”.

    The U.S. and the World have been under a BIOLOGICAL TERROR ATTACK! for over a year now. It is CRITICAL that We The People Of The United States take away control of our healthcare system from the GREED DRIVEN MEDICAL INDUSTRIAL COMPLEX!

    For our own National security, and the security of the world.

    A Strong, government-run, MEDICARE like Public Option CHOICE. Available to everyone on day one, with the full unfettered power of the federal government to regulate, negotiate, and control cost and quality. Would be the most workable way to deal with this global crisis at this time. Including patent suspensions as needed for national security or the greater good.

    As an American I invite the peoples of the World to help us fix our healthcare crisis. And bring pressure on our government to meet it’s responsibility to protect global security by controlling, and removing the corrupting influence of GREED and the PRIVATE FOR PROFIT motivations from healthcare in the U.S. and around the World.

    I call on the governments of the World and the global intelligence community to track down these MASS MURDERERS, and bring them to justice. CONNECT THE DOTS! And be vigilant that they don’t slip in another viral strain on you under the cloak of H1N1 sequestration.

    Further, the proposed patent protection on biologic’s must be stripped from the US bill. And greatly shorten/restricted, or abolished completely. This is a grave danger to humanity and global security.

    We must be strong and insist that healthcare reform be done right for the American people. Or everyone loose’s.

    This is all I can say in a message post. I’ll try to find a way to tell you more later.

    God Bless You My Fellow Human Beings

    jacksmith – Working Class

    p.s. The so-called nominal H1N1 virus is designed in such a way as to make it more lethal to children and young adults. The medical community must be more vigilant of secondary bacterial infections in the young caused by H1N1. And remember, a viral infection is also a transfer of genetic code to you. Think about it, and be vigilant. 😦

    MADAM SPEAKER, tells it like it is. 🙂 http://www.youtube.com/watch?v=S15BQgELDAQ

    We Want A Strong Government-Run Public Option NOW!! http://www.youtube.com/watch?v=WSdU4zKOgjs

    The Voice Of TRUTH! http://www.youtube.com/watch?v=xIyUVltB0F4&feature=player_embedded

    SHE’S BACK! http://www.youtube.com/watch?v=Gn9-ktTz2Uw&feature=player_embedded

    http://fdlaction.firedoglake.com/2010/01/30/debbie-wasserman-schultz-senators-lied-about-supporting-public-option/

    http://fdlaction.firedoglake.com/2010/01/21/fixing-health-reform-through-the-reconciliation-sidecar-13-improvements-6-ways-to-save-money-4-important-benefits/

    http://firedoglake.com/2010/01/21/ma-voters-seek-more-and-faster-change-economy-jobs-top-concern-taxing-health-insurance-very-unpopular-poll-says/

    http://firedoglake.com/2010/01/21/ma-voters-seek-more-and-faster-change-economy-jobs-top-concern-taxing-health-insurance-very-unpopular-poll-says/

  2. resveratrol supplements said, on March 10, 2010 at 10:06 pm

    I don’t intend to be too “in your face” with this, and I know it’s completely inappropriate but I will just say it anyway! Whhhhhaat the heck has Obama been smoking these days? There, I got it off my chest! 🙂

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  6. […] Audit The Fed Update « Activecitizen54's Blog […]

  7. grayrider said, on April 3, 2010 at 11:12 pm

    NEVER MIND AUDITING THE FED: IT’S TIME FOR A CRIMINAL INVESTIGATION

    The Federal Reserve has recently and very reluctently released details of its unlawful purchase of certain securities in order to help JP Morgan Chase takeover the Wall Street brokerage firm of Bear Stearns. Unfortunately for the Federal Reserve, this was a violation of federal law, as the Fed is not authorized to purchase anything other than securities that are backed by the full faith and credit of The United States.

    Here is some basic information about three organizations that were created as part of the criminal scheme to defraud Americans that could also be considered part of a larger pattern of racketeering activity:

    MAIDEN LANE LLC

    Maiden Lane LLC is the first holding company bearing the name that was created when JPMorgan Chase took over Bear Stearns in early 2008. It holds an asset portfolio that JPMorgan found too risky to assume in whole, and consequently the Federal Reserve Bank of New York extended a $30 billion credit line to the limited liability company to facilitate the unwinding of these assets over time. Bloomberg, citing Bank of America analysts, reported on October 2, 2008, that the Federal Reserve might stand to lose $2 to $6 billion on the asset porfolio. A November 6, 2008, update by the Federal Reserve showed that the fair value of the assets was at $26.8 billion, meaning a book loss of $2 billion for the Federal Reserve.

    The Maiden Lane name has been used for a series of bailouts including Maiden Lane II LLC and Maiden Lane III LLC. Maiden Lane was incorporated as Delaware Limited Liability Company on April 29, 2008, and registered to do business as a foreign limited liability company in the state of New York on June 26, 2008. The registered agent of Maiden Lane LLC is the CT Corporation

    MAIDEN LANE II LLC

    Maiden Lane II LLC is a limited liability company created when American International Group Inc. (AIG) was taken over by the U.S. government in September 2008. Since AIG’s subsidiaries hold a great many residential mortgage-backed securities that are very risky, Maiden Lane II LLC was formed to purchase these RMBS. On December 12, 2008, the Federal Reserve Bank of New York began extending credit to Maiden Lane II LLC. On the Fed’s Balance Sheet as of May 6, 2009, net portfolio holdings of Maiden Lane II LLC are 180.16 billion dollars.

    A news story dated March 16, 2009, stated Maiden Lane II used billions in bailout money to purchase toxic assets, and that AIG used billions to pay other banks, including foreign banks- France’s Societe Generale at $11.9 billion, Germany’s Deutsche Bank at $11.8 billion, and Britain’s Barclays PLC at $8.5 billion. AIG, through this fund also funneled significant bailout money to U.S. banks that had already been bailed out themselves under the Troubled Asset Relief Program. As AIG counterparties, Goldman Sachs got $12.9 billion, Bank of America got $5.2 billion, and Citigroup got $2.3 billion all at 100% on the dollar.

    The March 16, 2009 article was critical of AIG’s plan to pay in excess of $170 million as bonuses to AIG employees. This was the second in a series of LLC companies formed to deal with the bank bailouts.

    MAIDEN LANE III LLC

    Maiden Lane III LLC is a holding company created when American International Group Inc. (AIG) was taken over by the U.S. government in September 2008. Similar to Maiden Lane II LLC, Maiden Lane III LLC aims to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of AIG had written credit default swap contracts. On November 25, 2008, the Federal Reserve Bank of New York began extending credit to Maiden Lane III LLC. As of May 6, 2009, The Federal Reserve’s net portfolio holding of Maiden Lane III LLC is 26.4 billion dollars.

    Federal Reserve Chairman, Ben Bernanke, has repeatedly stated on numerous occasions that these financial deals would not cost anyone money. But the current value looks differently:

    Assets in Maiden Lane II totaled $34.8 billion, according to the Fed, which set their current market value in its weekly balance sheet at $15.3 billion. That means Maiden Lane II assets are worth 44 cents on the dollar, or 44 percent of their face value, according to the Fed.

    Maiden Lane III, which has $56 billion of assets at face value, is worth $22.1 billion, or 39 cents on the dollar, according to the Fed’s weekly balance sheet. A similar calculation for the Bear Stearns portfolio couldn’t be made because of outstanding derivatives trades.

    In other words, through this criminal manipulation, these shell organizations have lost more than half of their value. This was and remains a blatantly unlawful activity.

    The Federal Reserve is in violation of Article 1 Section 7 of The U.S. Constituion which reads in part: “All bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.”

    The Federal Reserve has unconstitutionally and illegally used taxpayer funds without authorization from Congress. At the time these shell “Maiden Lane” organizations were created, neither TARP or any other Congressional authorization existed for them to do so, and as of April 2010, no legislation has been put through Congress authorizing the expenditure of taxpayer funds, either through putting them at risk or via outright expense, for this purpose.

    Sections 13 and 14, of the Federal Reserve Act, make it perfectly clear that the Federal Reserve is only authorized to purchase items backed by the “full faith and credit” of the United States government. Credit-default swaps and jumbo trash mortgages most certainly do not meet these qualifications.

    There is simply no way to manipulate the facts to make the Federal Reserve’s action constitutional or legal. The federal government, as the servant government of the people, must immediately audit the Federal Reserve’s books and simutaneously initiate a criminal investigation into the actions of the Federal Reserve, as this group of private “banksters” has attempted to usurp the power of the United States House of Representatives.

    The Federal Reserve has spent several years trying to avoid disclosing these illegal activities from the Congress and the people of America. It continues to resist both Congressional demands for disclosure and multiple Freedom of Information Act lawsuits.

    It is time to hold the Federal Reserve to the rule of law. The fact that they resist any efforts at transparency is a sign that the Chairman and the entire Federal Reserve Board are involved in any number of illegal activities. We do not need meaningless fines and sanctions in return for the Federal reserve Board to tell us that they “will never do that again.” We need criminal prosecutions of those who willfully violated the criminal statutes and the U.S. constitution.

    Amending The Federal Reserve Act of 1913 (as Chris Dodd has proposed to prevent future lending bailouts) is not sufficient in that The Fed did not lend in this case, it purchased, and by buying what we now know were jumbo trash loans, it violated the letter of existing law.

    There is only one effective remedy for an institution that has proven that it will not abide the law: it must be abolished and all of the criminal wrongdoers in the organization must be prosecuted to the highest extent possible.

    We cannot have a Constitutional Republic where an unelected body of private banksters willfully, continuously and criminally violates the U.S. Constitution and other federal laws to the detriment of the American people.

    The Federal Reserve is an ongoing criminal entreprise and the principals should be prosecuted under the Racketeer Influenced and Corrupt Organizations Act (RICO).

    According to the RICO statute, any person or group who operates or manages an enterprise through a pattern of racketeering activity may be in violation of the RICO Act.

    Any group, including the members of the Federal Reserve Board, may be considered a RICO enterprise regardless of whether or not its members wear pinstripe suits.

    John Wallace

    http://www.4FLS.com


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