Thursday, May 26, 2011

Power unto itself: End the Fed: $3.3 trillion in private covert lending. Unaccountable.

Fed is a private corporation controlling and profiting from managing US money in a mostly covert way.

accusations that the Fed central bank is a power unto itself, operating according to its own devices and in the interest of major financial institutions -- and beyond accountability to taxpayers.

"That is the fundamental problem with the Fed," Baker added. "They're supposed to be an agency of the government, not an agency of the banks. But reflexively, there they are protecting the banks, again and again and again."

During the week in October 2008 when borrowing under the program peaked, foreign banks received more than 70 percent of the $110.7 billion that the Fed lent out

Federal Reserve Lending Revelations Intensify Criticism Of Central Bank's Secrecy

ALL the Congresses/ALL the White Houses, except JFK's White House = The Red Shield/The House of Rothschild, printing the money of the American people and making loans to the Federal Government at interest with that money.."don't let the word "Federal" Reserve fool you" link (starts at 6:51 minutes)
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