The Golden Truth: THIS IS WHY WE NEED TO HAVE A THOROUGH AUDIT OF THE FEDERAL RESERVE

Sunday, September 27, 2009

THIS IS WHY WE NEED TO HAVE A THOROUGH AUDIT OF THE FEDERAL RESERVE

Any citizen who cares about this country should watch this question and answer sesson between Rep. Alan Grayson and Scott Alvarez, General Counsel for the Federal Reserve. Alan Grayson is one of the very few highly intelligent Congressmen, in general, and one of the few who truly understands the financial and legal complications embedded in the system.

At best, Alvarez was clumsily evasive of Grayson's questions - the worst case is that he also lied under oath. Please note, the guy obviously drew a blank when Grayson asked him name just one primary dealer of the Fed - he was able to muster up the most obvious, JP Morgan, since JP Morgan himself founded the Fed. He also was unable to directly answer whether or not the Fed manipulates the stock market. Bon Appetit:

Here is Grayson's partial curriculmn vitae: Grayson graduated from Harvard College, then received a law degree (with honors) from Harvard Law School as well as a Master of Public Policy from Harvard's John F. Kennedy School of Government. Grayson is an alumnus of the Bronx High School of Science.

Grayson went on to work as a judge's assistant at the D.C. Circuit Court of Appeals, working with current U.S. Supreme Court judges Ruth Bader Ginsburg and Antonin Scalia, and former U.S. Attorney General Robert Bork.

4 comments:

EconomicDisconnectFriday, 25 September, 2009
Dave,
great video, it really shows the disconnect from reality the ivory tower single mind think of the whole FED structure. Sadly, nobody from congress was in attendance, they might have learned something.

On gold 2 things:
-the lawyer said "no problem" to a verification audit on the record
-I have a poll up on whether gold is in a bubble and at/or what stage, so please vote!
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GaryFriday, 25 September, 2009
He said that he could see no reason to object to an audit of the presence of the gold on the facility. He did not say who owns it.
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Dave in DenverSunday, 27 September, 2009
That's right Gary. I also wished that Grayson had asked if the Fed had "physical custody" of the gold it was holding on behalf of the United States, rather than the word "possess."
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EdwardoMonday, 28 September, 2009
Grayson can reference this next time.

http://www.zerohedge.com/article/smoking-gun-fed-controlling-gold
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.