Federal Reserve needs supervision

One of the best things about America is that our government is required by law to operate openly and honestly. There are a lot of bureaucrats with red tape who help keep track of important data. They print out and sign numerous forms and file reports that are to be made available to the public by request.

No agency of the government is exempt from these rules. Military personnel have to keep track of ammunition. Ambassadors have to hand over hotel receipts. These procedures are tedious but accountability helps organizations run efficiently.

Government agents and officials are required to open up the books and let the Government Accountability Office have a peek. Why doesn’t the Federal Reserve have to? Why do they continue to insist they do not have to show records of their activity? And more importantly why is our congress not more interested in exploring what the Fed is up to?

Congress and the senate get a very limited amount of time with the Fed. When they have hearings with Fed Chairman Ben Bernanke he does his best to be vague and confusing when responding to questions at hearings. He feels that the Fed should remain exempt from offering information about monetary policy and be free from any oversight.

Ben Bernanke, President Obama and many others want you to believe that the Fed considers what is best for everyone and acts accordingly. What we are slowly finding out is that the Fed is mainly concerned with what is good for the financial sector and that’s about it.

If any of us are actually interested in fixing the financial system and limiting the financial sector’s power over our republic, then it’s time we support the Paul-Grayson bill. This bill is also known as H.R. 1207, the Federal Reserve Transparency Act of 2009.

We need to control the influence the financial sector has over monetary policy. The big banks appoint the committee members at the Fed who decide monetary policy for crying out loud! It should surprise no one that the Fed bails their friends out. It should not be accepted by anyone. This is too much power and as they continue to use the Fed to protect their empires, our monetary system will continue to crumble.

The Fed doesn’t want anyone to know who they gave money to. It will prove they are up to no good and have been for quite some time. The monetary system has been hijacked by the banks for their own benefit. There should be no such thing as too big to fail.

Our monetary system can fail, and it will fail if we don’t get serious. If we continue to allow the Fed to operate with no supervision then they will continue to devalue our dollar. They will never stop redistributing wealth upwards to the central bankers and their cronies at the top. To fix the financial system we need to start with the Fed. If anyone else printed out money like they did they would be arrested for counterfeiting.

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