26 March 2009

Let me count the ways

Last night the Senate Committee on Finance met to discuss the long term financial business going on in out country right now. I actually found myself glued to CSPAN (not normal).

All I could hear over the chatter of, "we'll be at less than 3% of GDP by 2011," is Joe Biden's voice ringing loudly on the night of his announcement to run with Obama, "That's not change! That's more of the same."

And team Obama/Biden did have lofty goals and promises of change. But our jacked up political system is worse than ever. Promises of abolishing Bush's Patriot Act (Obama signed to re-instate it). Promises to close Guantanimo (still operating and with more facilities now open over seas). Promises to stop wasting money overseas (now spending $18 Billion on the middle east war efforts). Promises for more transparency in the White House (still empowering the Fed to run this country and resisting pushes for the a Senate audit of the Fed).

And then last night, Obama's left-hand man, Timbo Geitner asks to give Federal Power the the "Federal" reserve.

In addition, the administration proposed the creation of a systemic risk regulator to monitor the biggest institutions. Geithner did not designate where such authority should reside, but the administration is expected to support awarding this power to the Federal Reserve.

I need not remind you that the Federal Reserve is no a Federal division of our government. They are a privately owned organization under the control of domestic and foreign banks with too much jurisdiction in our political system and zero regulation.

Luckily, there is some pushing going on to have the Fed officially audited. You can actually sign the petition here and encourage your representative to take action. I encourage you to do so. When the country is able to see how we've allowed the FR to screw with our money, so much will change for the better or our economy and for the better of our dollar's value.

*Sorry for the completely long-winded and rambling post, but it needed to be let out.


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