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News and events from around the world
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Well, you know something's up when the Federal Reserve (which is neither federal nor a reserve) decides to hold an open question and answer meeting with the press. Something that has never happened before in the nearly 100 year history of this mysterious, aloof, privately owned and and completely unnecessary organization.
With economy at crossroads, Bernanke lifts the Fed's veil
First-ever regular news conference given by a Fed chief marks a new policy of openness
By John W. Schoen
For much of its 97-year history, the U.S. Federal Reserve has been an opaque, imposing, somewhat mysterious institution that relied on secrecy to hide its innermost deliberations from global financial markets.
In the five years since the ascension of Chairman Ben Bernanke, Fed board members and regional bank presidents have been increasingly outspoken about policy disagreements. Bernanke's testimony to Congress has transformed "Fedspeak" — the imponderable dialect spoken by his predecessor Alan Greenspan, into plain English.
That policy of openness — some have called it the Fed's Glasnost — will reach a new milestone Wednesday when Bernanke holds the first regularly scheduled briefing ever given by a Fed chief, kicking off what is to be a quarterly event. The briefing, to be broadcast live on the Fed’s website and other outlets, will begin at 2:15 p.m. EDT after a regular meeting of the policymaking Federal Open Market Committee.
If you read the article, scroll down to the bottom of the page and you'll see some interesting information about the Federal Reserve. For example...
How and why was the Fed created?
Congress passed the Federal Reserve Act in 1913. The legislation was signed into law by President Woodrow Wilson on Dec. 23, 1913. The Fed began operating in 1914. It was created in response to a series of bank panics that plagued the United States during the 19th and early 20th centuries. Those panics led to bank failures and business bankruptcies that roiled the economy.
What they fail to mention is that these bank panics were created and fueled by the very people behind the formation of the Federal Reserve, for the purpose of coercing the public into thinking that a Federal Reserve would solve this problem.
Then 15 years after the Federal Reserve began operating, we had the Great Depression. The biggest bank failure and business bankruptcy in American history.
Today, the Federal Reserve prints our currency and loans it to us at interest, and instead of bank panics and business bankruptcies, our nation is trillions upon trillions of dollars in debt.
This press conference was streamed live on the Web. I caught a few minutes of it.
In the 97 going on 98 years of the Federal Reserve, it boggles the imagination that this was the first time that a Q&A meeting was held that was publicly accessible. Unreal.
We know more about the CIA and how they operate then we do about the Federal Reserve.
Anyway, it wasn't much of a press conference. from what I saw, the questions were pretty much safe, nothing challenging, nobody digging for anything deep. It seemed controlled and to a point, orchestrated.
Read more about it at the link below.
Yeah, this whole thing is the biggest, evilest swindle I know of. The so called "Fed" has us all in chains, and most people wouldn't question it. They even seem to like and defend the chains. It's been said many times. The best slaves are the ones that think they are free. They're all cattle grazing and whatever cows misbehave are sent to the chopping block for removal from the system or paid to shut up. If too many cows start misbehaving, we'll have martial law and the bad boys and girls will all go to prison. It's bizarre how sick and twisted it is and brilliant at the same time. The U.S. or the world has been without a clue and tricked for many many years into owing a massive debt, and the debt ultimately doesn't mean anything which makes it worse. All the "paper" or "electronic" money which is all debt has no true value. They created it and placed an imaginary value on it for us so they would own it all, and it goes on and on... it's pretty amazing.
4 posts • Page 1 of 1