Yeah, I know this isn't usually a political blog. But, it's my blog so I can put anything I want on it right? So here's the thing. Today President Obama unveiled a plan for increased financial oversight blaming our financial crisis on a "culture of irresponsibility." You can read more about this here.
Now, here is my issue. Obama's new plan will give the Federal Reserve Bank sweeping powers. For those that don't know, The Fed is a government institution that has the ability to operate similarly to private banks. And although they do not operate to seek a profit, their stock is owned by private bankers of each of the regional federal reserve bank systems . This alarms me, considering they have full powers in controlling our currency. They also have the ability to act without approval from Congress or the President. Now, our president is wanting to increase that power by tasking them with regulating the very banks that own their stock. HUH? Are you kidding?
And you may ask, "Who is overseeing the Fed?" Answer-nobody really. Although the Fed has the ability to print trillions of dollars to control our interest rates, decreasing the value of our dollar and is soon to oversee our entire financial sector, they have never been audited. Yep, we have no idea what they do with our money. That is why I encourage you all to watch this youtube clip and contact your representative to tell them to support this bill. You can also find much more info and instructions on how to do this at Ron Paul's website here. This is important ya'll!!
2 months ago