THE HYPOCRISY OF HARRY, THE TYRANT

• "Ineptocracy"
• Presidental Ineptitude
• 6 Fixes to America's Fiscal Crisis
• Reform 'Entitlements'
• The Best Place in the World to be Born
• US Government Debt Clock
• MELTDOWN AMERICA
• Federal Government Sewage Leak!!
• YA GOTTA VOTE!
• Personal Responsibility or Government?
• DECLINE, DECAY, DENIAL, DELUSION, & DESPAIR
• WE DID BUILD THAT!
• Libertarian Party Platform - Amended 2012
• The Great Destroyer!
• Pay Your 'Fair Share'

This week, the House is expected to consider H.R. 459 – Federal Reserve Transparency Act. This bill directs the GAO to complete an audit of the monetary policy deliberations, actions, and related matters taken by the Federal Reserve System before the end of 2012, followed by a detailed report to Congress. Most significantly, the bill would repeal existing restrictions on the GAO’s authority to perform audits of Federal Reserve monetary policy activities.

Like all other major central banks around the world, the Federal Reserve is an independent central bank, and its monetary policy actions are not subject to approval by the Administration or Congress. While Congress has set out the policy goals the Federal Reserve is to pursue – maximum employment and price stability – the ability of the Federal Reserve to pursue monetary policy independent of political influence is critical to its ability to fulfill its dual mandate.

Moreover, Congress already conducts regular and robust oversight of the Federal Reserve and actually expanded GAO’s audit authority two years ago in the Dodd-Frank Wall Street Reform and Consumer Protection Act. It expanded the types of audits GAO may conduct of the Federal Reserve, as well as the data that must be disclosed to the public. The Federal Reserve’s financial accounts have long been subject to audit both by the GAO and an outside, independent audit firm.

This bill impedes the independence of this critical institution. In order for the Federal Reserve to do its job effectively, it should not be subject to short-term political pressures. The experience during debate on the debt ceiling last summer should demonstrate to the American public that House Republicans cannot be allowed to hold our economy or our critical economic institutions hostage in order to further their extreme agenda.

The Federal Reserve has bought approximately 60% of all US Treasury Bonds, Notes, and Bills since the 2008-2009 financial crisis which was caused by the FED and US government policies (see snippet below and don't forget Fannie & Freddie). The proceeds of the FED purchases flood the US Government with these "rubber bucks". Also, it is suspected that the FED has flooded the debt-ridden Eurozone with US Dollars. Harry Reid stands up and lies his butt off in the Senate while the Senate Whip puts out the above order to vote NO using the same ol' argument for the independence of the FED. The reason for the existence of a central bank is to pay for wars and socialist welfare programs. The GOLD STANDARD would create a solid dollar and the US Government expenditures would be restricted.

WATCH HARRY LIE HERE!

FROM Clinton’s Legacy, Part 1: The Financial and Housing Meltdown

The housing boom

We must back up a step. The meltdown was the consequence of a combination of easy money and low interest rates engineered by the Federal Reserve and easy housing engineered by a variety of U.S. government agencies and policies, including HUD; the Federal Housing Authority; and two nominally private “government-sponsored enterprises” (GSEs), Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). The agencies, along with enactments such as the Community Reinvestment Act (passed in the 1970s then fortified in the Clinton years), which required banks to make loans to people with poor and nonexistent credit histories, made widespread home ownership a national goal. All that, fueled by Fed-induced cheap credit, led to a home-buying frenzy and an explosion of subprime and other nonprime mortgages, which banks and the GSEs bundled into securities and peddled to investors worldwide. (The GSEs bought and guaranteed a huge number of those mortgages originated by banks and mortgage companies, some of which it sold as mortgage-backed securities and some of which it held on its own balance sheet.)

AND...fast-forward to 2013, Obama, et.al. believe that TOO many young people and people with poor credit need help to buy a house, so let's screw the economy and the housing market all over again.

Why Do We Need Term Limits?

John Adams said, “Without [term limits] every man in power becomes a ravenous beast of prey”. That being said, here are some of the reasons we believe our country needs Term Limits.

1. Term Limits can help break the cycle of corruption in Congress. Case studies show that the longer an individual stays in office, the more likely they are to stop serving the public and begin serving their own interests.
2. Term Limits will encourage regular citizens to run for office. Presently, there is a 94% re-election rate in the House and 83% in the Senate. Because of name recognition, and usually the advantage of money, it can be easy to stay in office. Without legitimate competition, what is the incentive for a member of Congress to serve the public? Furthermore, it is almost a lost cause for the average citizen to try to campaign against current members of Congress.
3. Term Limits will break the power special interest groups have in Congress.
4. Term Limits will force politicians to think about the impact of their legislation because they will be returning to their communities shortly to live under the laws they enacted.
5. Term Limits will bring diversity of people and fresh ideas to Congress.

Term limits for lawmakers: when is enough, enough?

[Editor's Note: If you want to get rich, i.e. advance from a low paying government bureaucrat job on the local or state level, THEN GET ELECTED TO THE US CONGRESS (House or Senate). Once you're elected, it's easy to steal from your campaign contributions or the Congressional budget allocated to your seat and staff. You can go on a government-funded junket with 'lavishly' paid expenses. The list of ways to steal from the government while in office is inexhaustible. There are only a few Congressmen who left Congress just wealthy instead of a multi-millionaire. Of course, there are several who arrived in Congress as multi-millionaires and don't need to steal from the government.]