at 21:01 on August 31st, 2009
The Federal Reserve that caused the Great Depression and the horrific suffering, deprivation and dislocation America and the world experienced in its wake. The worldwide economic downturn called the Great Depression, which persisted from 1929 until about 1939, was the longest and worst depression ever experienced by the industrialized Western world. While originating in the U.S., it ended up causing drastic declines in output, severe unemployment, and acute deflation in virtually every country on earth. According to the Encyclopedia Britannica, "the Great Depression ranks second only to the Civil War as the gravest crisis in American history."
at 21:39 on August 31st, 2009
Most Americans believe that the Federal Reserve is part of the government. They are wrong. It is a privately held corporation owned by stockholders. The Federal Reserve System is owned by the largest banks in the United States. There are Class A, B, and C shareholders. The owner banks and their shares in the Federal Reserve are a secret. Why is this a secret? It is likely that the biggest banks in the country are the major shareholders. Does this explain why Citicorp, Bank of America and JP Morgan, despite being insolvent, are being propped up by Ben Bernanke and Timothy Geithner? The Constitution of the United States unequivocally states that only Congress has the authority to coin money, not an independent bank owned by unknown bankers.
at 10:40 on November 25th, 2009
Duty calls for Congress The United States Congress next week has the opportunity to question the wisdom of President Barack Obama's decision to keep Ben Bernanke - who played a key role in bringing about the global financial crisis - as Federal Reserve chairman for another four years. Congress has the opportunity to recognize its solemn duty and not serve as a rubber stamp for the administration. - Hossein Askari and Noureddine Krichene
at 10:46 on November 25th, 2009
Bernanke's neck on the line Critics of the US Federal Reserve are growing in number and volume as normal folk see little of the vast amounts of money it dispenses going into their pockets. That, and Congressman Ron Paul's move to have the Fed's books opened for audit, may cause more than severe discomfort for chairman Ben Bernanke at his renomination hearings. - Julian Delasantellis (Nov 24, '09)
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by PIM of SPAIN
by rumana husain
snuffysmithWashington D.C., D.C., United States