WeAreChange: Ben Bernanke Confronted on Secret Federal Reserve Bail Out's

Luke Rudkowski got yet another chance to question the current chairman of the Federal Reserve Ben Bernanke. The last time the two met, Bernanke was not in a talkative mode and since Luke only had one chance to ask one question he decided it had to be an important one. Luke asked Bernanke about the 2007 - 2010 secret trillion dollar Federal Reserve bailouts, that only recently came to light from a partial audit of the federal reserve. Barnanke was not happy with the question but since no one in the main stream media ever questioned Bernanke on the biggest bailout in world history, Luke had to seize the chance.

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Ron Paul's 'Audit-the-Fed' bill passes the House

*Source: Natural News

(NaturalNews) Ron Paul doesn't have many legislative victories, but when he does, it's a monumental event.

Paul, the Libertarian-leaning Republican lawmaker from Texas with a penchant for upsetting the GOP establishment and a loathing for the status quo, just happens to also be the Federal Reserve's biggest critic.

For years Paul - who has still yet to officially withdraw from his quest for the GOP presidential nomination that is now Mitt Romney's in everything but name - has pushed for more transparency at the Fed. From within the organization and from Congress itself, he's been stymied at every turn.

That all changed earlier this week when - finally - he found satisfaction.

Time for Congress to 'reassert ourselves'

The House on Wednesday voted overwhelmingly - 327-98 - in favor of legislation he offered that would require a full audit of all the central bank's practices. The bill, called the Federal Reserve Transparency Act (H.R. 459) "essentially removes the prohibitions against a full audit," Paul said.

Current rules allow the non-partisan Government Accountability Office to audit most aspects of the Fed's activities. But an examination of the central bank's monetary policy decisions is off limits.

Paul's bill will close that regulatory gap.

"It is up to us to reassert ourselves," Paul said during floor debate earlier this week, referring to lawmakers in general.

"To audit, we should know what kind of transactions there are," he said. "We should know about the deals that they made when they were fixing the price of Libor. These are the kinds of things that have gone on for years that we have no access to."

Libor refers to the London Interbank Offered Rate. Earlier this month the New York Federal Reserve bank said it knew that London banks were under-reporting borrowing costs, which in turn altered the Libor - a tactic the NY Fed believes was done to boost profits.

Some still want secrecy

Opponents of the measure, including Fed Chairman Ben Bernanke, testified earlier that giving the government full audit capabilities over the central bank would amount to a "nightmare scenario," because he believes it will lead to political interference.

"It seems to me what we're talking about is taking some fake punches at the Federal Reserve but not doing anything serious," Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, added.

"They will see it as political interference, not with the contracting procedures, not with the budget, not with how many cars they have, but with how they decide on interest rates," Frank said. "And the perception that the Congress is going to politicize the way in which interest rates are set will in itself have a destabilizing effect."

Paul says if its politicization of the Fed that some are worried about, that's already been occurring. He said the Fed, through political and corporate cronyism, has picked industries to support - and to ignore. Some financial institutions have been bailed out by the Fed, which essentially created the bailout money out of thin air, while others have not.

"It's very political when you have a Federal Reserve that can bail out one company and not another company," Paul said. "That's pretty political."

The House passed it - But now what?

House Oversight and Government Reform Committee Chairman Darrell Issa agreed, noting that Congress - purposefully or by accident - has, through the years, relinquished its oversight role.

"In recent years, the Fed's extraordinary interventions into the economy's fiscal markets have led some to call into question its independence," said Issa, R-Calif. "We do not ask for an audit for that reason, we ask for an audit because the American people ultimately must be able to hold the Fed accountable, and to do so, they must know at least in retrospect what the Fed has done over these many year."

The bill has moved to the Senate where its majority leader, Harry Reid of Nevada, once favored an audit of the Fed.

Now; however, since it is no longer his idea, he seems to have changed his mind.

http://www.washingtontimes.com

http://thehill.com

http://www.federalreserve.gov/

http://www.naturalnews.com/Federal_Reserve.html

FED Police Confronted: "Step Back On Public Property" .

Luke Rudkowski, Mark Dice & Adam Kokesh team up to take on the most insidious mafia organization in DC, The Federal Reserve. Watch what happens when Luke, Mark & Adam begin innocently filming the outside of The Federal Reserve building on Constitution Ave.



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Fed To Take Propaganda To The Schoolroom: Will Teach Grade 8-12 Students About Constitutionality Of... The Fed

*Source: Zero Hedge

Back in September we noted a peculiar RFP by the Fed which sought to become a secret 'big brother' to the social media world, and to "monitor billions of conversations and generate text analytics based on predefined criteria." The Fed's desired product should be able to "determine the sentiment of a speaker or writer with respect to some topic or document"... "The solution must be able to gather data from the primary social media platforms – Facebook, Twitter, Blogs, Forums and YouTube. It should also be able to aggregate data from various media outlets such as: CNN, WSJ, Factiva etc." Most importantly, the "Listening Platform" should be able to "Handle crisis situations, Continuously monitor conversations, and Identify and reach out to key bloggers and influencers." While it is unclear just how successful the Fed has been in eavesdropping on various critical blogs, and divining "sentiment", it now appears that the propaganda masters at the Office of Central Planning have decided to go for young American minds while they are still pliable. It appears that as part of its reenactment of Goebbels "economic education" curriculum, the Fed will now directly appeal to K 8-12 student, in which it will elucidate on the premise of "Constitutionality of a Central Bank." You know - just in case said young (and soon to be very unemployed) minds get ideas that heaven forbid, the master bank running the US is not exactly constitutional - you know, that whole thing between Andrew Jackson and the Second Bank of the United States...

And in case one is wondering what dogmatic propaganda their childredn will be filled with, here is tje course outline.

Lesson Description

The Constitution of the United States outlines the basic principles of the U.S. government. This lesson focuses on the express and implied powers of Congress and the power of the Supreme Court to decide whether a law is unconstitutional. In this lesson, students learn about McCulloch v. Maryland, a case decided in 1819 over (1) whether the state of Maryland had the right to tax the Second Bank of the United States and (2) whether Congress had violated the Constitution in establishing the Bank. Students also review the expressed powers of Congress identified in the Constitution and analyze how Congress implements the necessary and proper (elastic) clause to enact its expressed powers. Finally, students use their knowledge of McCulloch v. Maryland and the necessary and proper clause to consider the constitutionality of the Federal Reserve System.

Concepts

Expressed powers
Federal Reserve Act
Fiat money
Implied powers
Necessary and proper (elastic) clause
Precedent
Value of money [ZH: lol]

Objectives

Students will:

• define expressed powers, implied powers, precedent, fiat money, the Federal Reserve Act, the necessary and proper (elastic) clause, and the value of money;
• cite examples of the expressed powers granted to Congress in Article 1, Section 8 of the Constitution;
• explain the meaning of the necessary and proper (elastic) clause;
• explain the significance of the McCulloch vs. Maryland Supreme Court case; and
• give examples of the implied powers necessary to implement various expressed powers.

Yet the oddest thing about the lesson plan is visual #4. It speaks for itself:

Well thanks for the warning...

Full lesson:

Constitutionality of Central Bank