by Albert Edwards, Societe Generale
Mr Bernanke’s in-house Fed economists have found that the Fed wasn’t responsible for the boom which subsequently turned into the biggest bust since the 1930s. Are those the same Fed staffers whose research led Mr Bernanke to assert in Oct. 2005 that “there was no housing bubble to go bust”? The reasons for the US and the UK central banks inflating the bubble range from incompetence and negligence to just plain spinelessness. Let me propose an alternative thesis. Did the US and UK central banks collude with the politicians to ’steal’ their nations’ income growth from the middle classes and hand it to the very rich?
IW
------------------------------------------------------------------------------
Senate Banking Committee Chairman Chris Dodd opposes including a provision to audit the Federal Reserve in the Senate’s regulatory reform package, the retiring Connecticut Democrat told the Huffington Post Thursday.
The measure made it into the House bill in November after an unusual insurgency led by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.) beat back a concerted effort by the Fed to kill the provision, and won an overwhelming and bipartisan vote in the House Financial Services Committee. It was an unprecedented legislative defeat for the Federal Reserve, which has never had a real audit in its history. Little is known of what it does with the trillions of dollars at its disposal.
Subscribe to:
Post Comments (Atom)
About Me
Blog Archive
-
▼
2010
(708)
-
▼
January
(57)
- Work Free
- The War On Drugs
- Floaty Cat
- Ice Storm Hits Oklahoma
- Torah Bright
- First Date Memories
- Vancouver 2010 Next 9/11?
- Dead Boogyman a Global Warming Diehard
- It's got something bad in it
- How Weed Won the West
- Through Glass
- Tex Ain't Wealthy
- EPA Suppresses Internal Global Warming Study
- U.S. Military Weapons Inscribed With Secret 'Jesus...
- Russian scientists brace for approaching asteroid
- If government doesn't control marijuana, criminals...
- No title
- Hearings on H1N1 to be Kept Quiet by Mainstream News
- Theft! Were the US & UK central banks complicit in...
- Chavez: US Weapon Test Caused Haiti Earthquake
- Possession of Mountain Dew
- Today in History Jan 23
- Dr. Crazy as a Shit House Rat
- Former Prime Minister of Malaysia Says 9/11 Staged
- Ron Paul: We need to take out the CIA
- Sheep Gives Birth to Lamb with Human Face
- Hearings Begin On “Falsified” Swine Flu Pandemic
- BIBLE CODE: GEN:6:3: HAITI – MAJOR EARTHQUAKE- JAN...
- The Skoal Dip Song
- Gun Control = Higher Crime Rate
- Rachael Getting High
- No title
- Screaming for Emily "Deity"
- Debra Medina for Texas Governor
- Obamas Favorite For Supreme Court Justice Sunstein...
- Oklahoma City ghosts to blame for NBA Knicks’ loss
- Gun Control Advocate Shoots Intruder
- Bankergate: Emails Expose Criminal Financial Dicta...
- Carrying a Knife in your own Home Illegal
- Cascades-Rythym of the Rain
- Healthcare Reform Debate Transparent as a Rock
- Holly Eats
- Boy Scouts of America Volunteer to run Body Scanne...
- A Very Special Time Indeed
- But I was expecting Nirvana
- Our Stupid Foreign Policy
- Obey!
- 33 Conspiracy Theories That Turned Out To Be True,...
- The Money That is Sold Abroad is You
- The American Zombie
- Judicial Watch Announces List of Washington's "Ten...
- My New House Shoes
- The Puppet Masters
- No title
- No title
-
▼
January
(57)
2 comments:
*LOL*
Gee, ya think?
I wonder what gave it away...the banker bailouts or the crooked fannie-freddie deals, all of which had bipartisan support, despite all the GOP hyperbole!
Ted - Yet so many people still don't get it. Anyone that stands in the way of a full audit of the federal reserve should be drawn and quartered, short of that they certainly shouldn't be re-elected.
Post a Comment