From: *Travis* Date: Fri, Jul 10, 2009
The Daily Bail <http://dailybail.com/home/> <http://fusion.google.com/add?source=atgs&feedurl=http://feeds.feedburner.com/TheDailyBail> ------------------------------ - Dr. James Galbraith, Professional Fed Killer<http://mail.google.com/mail/?ui=2&view=js&name=js&ver=xWWCalDiPoM.en.&am=!1cqNLSaoA8C5he3iwbQ2woaSAD5IGcpXuAZUy8nt#12265d7d071c3405_1> - Ron Paul Questions Vice-Chair Kohn On Fed Transparency (Clip)<http://mail.google.com/mail/?ui=2&view=js&name=js&ver=xWWCalDiPoM.en.&am=!1cqNLSaoA8C5he3iwbQ2woaSAD5IGcpXuAZUy8nt#12265d7d071c3405_2> - Ron Paul: The American People Are Fed Up (Paul, Schiff & DeMint)<http://mail.google.com/mail/?ui=2&view=js&name=js&ver=xWWCalDiPoM.en.&am=!1cqNLSaoA8C5he3iwbQ2woaSAD5IGcpXuAZUy8nt#12265d7d071c3405_3> - Fed Vice-Chairman Donald Kohn Begs Congress NOT To Audit The Federal Reserve<http://mail.google.com/mail/?ui=2&view=js&name=js&ver=xWWCalDiPoM.en.&am=!1cqNLSaoA8C5he3iwbQ2woaSAD5IGcpXuAZUy8nt#12265d7d071c3405_4> - Update From Senator DeMint on Ron Paul's Bill (S604 and HR1207) To Audit The Federal Reserve (Clip)<http://mail.google.com/mail/?ui=2&view=js&name=js&ver=xWWCalDiPoM.en.&am=!1cqNLSaoA8C5he3iwbQ2woaSAD5IGcpXuAZUy8nt#12265d7d071c3405_5> Dr. James Galbraith, Professional Fed Killer<http://feedproxy.google.com/~r/TheDailyBail/~3/1vD8GwfIyMY/dr-james-galbraith-professional-fed-killer.html> Posted: 09 Jul 2009 10:58 PM PDT <http://dailybail.com/home/james-galbraith-ron-paul-discuss-the-constitutionality-of-th.html> *Drs. Galbraith and Paul Discuss The Constitutionality of the Federal Reserve* *Do not miss this one. Extraordinary* discussion from today's hearings. Skip immediately to the 3 minute mark. I've always thought Galbraith had some serious economic demons related to his father, and he looks slightly possessed in this clip. His answer doesn't come until at least the 4:15 mark. He practically tells Paul that it's in their interest and within the original charter, for Congress to change the funding agreement for the Fed. Watch his expressionless body as he emasculates the Fed with serene precision and then utters the most beautiful phrase of all: "*And it seems to me that it would be the appropriate decision for Congress to make*." And then he repeats himself because that's what professional Fed killers do. Blue steel. Ron Paul Questions Vice-Chair Kohn On Fed Transparency (Clip)<http://feedproxy.google.com/~r/TheDailyBail/~3/Tsb0osYp3EY/ron-paul-questions-vice-chair-kohn-on-fed-transparency-clip.html> Posted: 09 Jul 2009 10:30 PM PDT <http://dailybail.com/home/ron-paul-questions-vice-chair-kohn-on-fed-transparency-clip.html> This is an outstanding clip from today's hearing (6:41). The Fed stooge in the hotseat is Vice-Chairman Donald Kohn. He makes the failed case for continued Fed secrecy. It's worthwhile to hear his arguments. Ron Paul: The American People Are Fed Up (Paul, Schiff & DeMint)<http://feedproxy.google.com/~r/TheDailyBail/~3/QscwwMGPxhw/ron-paul-the-american-people-are-fed-up-paul-schiff-demint.html> Posted: 09 Jul 2009 09:20 PM PDT <http://dailybail.com/home/ron-paul-the-american-people-are-fed-up-paul-schiff-demint.html> Clip is part 1 from yesterday's Freedom Watch With Judge Andrew Napolitano. Ron Paul is the guest for this portion as they discuss the Federal Reserve and HR 1207. I have aggregated *parts 2 thru 4 inside*<http://dailybail.com/home/ron-paul-the-american-people-are-fed-up-paul-schiff-demint.html>with Peter Schiff, James DeMint and more of Dr. Paul. This is some really good stuff. Fed Vice-Chairman Donald Kohn Begs Congress NOT To Audit The Federal Reserve<http://feedproxy.google.com/~r/TheDailyBail/~3/HVlVOQ-sbSE/fed-vice-chairman-donald-kohn-begs-congress-not-to-audit-the.html> Posted: 09 Jul 2009 08:16 PM PDT This is *laughable*<http://www.federalreserve.gov/newsevents/testimony/kohn20090709a.htm>and pathetic. Kohn makes 2 arguments. He states that the Federal Reserve is already subject to significant auditing from the GAO and so there is no need for an outside audit from Congress...I wonder if Kohn has seen *this clip*<http://dailybail.com/home/there-are-no-words-to-describe-the-following-part-ii.html>of Federal Reserve Inspector General Elizabeth Coleman as she demonstrates that she doesn't even understand what her job should entail. To call her a clueless bureaucrat would be an insult to clueless bureaucrats everywhere. It's *pure scandal*<http://dailybail.com/home/there-are-no-words-to-describe-the-following-part-ii.html> . Kohn's 2nd argument, that Fed independence shouldn't be politicized, is actually a decent point. I don't want Congress setting interest rate policy any more than you do. But no one is talking about limiting the Fed's power at this point. We just want a peek under the hood. There has been in excess of $10 trillion in bailout commitments to date, and absolutely no transparency in accounting. Congress and voters are demanding to know where the hell all the money has gone, to put it bluntly. <http://dailybail.com/home/fed-vice-chairman-donald-kohn-begs-congress-not-to-audit-the.html> Of note, Obama and Democrats are for some reason protecting the Federal Reserve, and have moved to *block any vote*<http://dailybail.com/home/update-from-senator-demint-on-ron-pauls-bill-s604-and-hr1207.html>on the measure (S 604 and Ron Paul's HR 1207). This is a losing position for the White House, and I am astonished by their reaction to a simple request for an audit. *These tactics tend to arouse more suspicion, as reasonable minds begin to wonder: exactly what is the Federal Reserve hiding?* Transparency and sunshine are 2 simple requests and the Democrats would be well-served to heed them both. *Kohn's statement today before the House Subcommittee on Domestic Monetary Policy*: Chairman Watt, Ranking Member Paul, and other members of the Subcommittee, I appreciate the opportunity to discuss with you the important public policy reasons why the Congress has long given the Federal Reserve a substantial degree of independence to conduct monetary policy while ensuring that we remain accountable to the Congress and to the American people. In addition, I will explain why an extension of the Federal Reserve’s supervisory and regulatory responsibilities as part of a broader initiative to address systemic risks would be compatible with the pursuit of our statutory monetary policy objectives. I also will discuss the significant steps the Federal Reserve has taken recently to improve our transparency and maintain accountability. *Independence and Accountability* A well-designed framework for monetary policy includes a careful balance between independence and accountability. A balance of this type conforms to our general inclination as a nation to have clearly drawn lines of authority, limited powers, and appropriate checks and balances within our government; such a balance also is conducive to sound monetary policy. The Federal Reserve derives much of the authority under which it operates from the Federal Reserve Act. The act specifies and limits the Federal Reserve’s powers. In 1977, the Congress amended the act by establishing maximum employment and price stability as our monetary policy objectives; the Federal Reserve has no authority to establish different objectives. At the same time, the Congress has--correctly, in my view--given the Federal Reserve considerable scope to design and implement the best approaches to achieving those statutory objectives. Moreover, as I will discuss in detail later, the independence that is granted to the Federal Reserve is subject to a well-calibrated system of checks and balances in the form of transparency and accountability to the public and the Congress. The latitude for the Federal Reserve to pursue its statutory objectives is expressed in several important ways. For example, the Congress determined that Federal Reserve policymakers cannot be removed from their positions merely because others in the government disagree with their views on policy issues. In addition, to guard against indirect pressures, the Federal Reserve determines its budget and staff, subject to congressional oversight. Thus, the system has three essential components: broad objectives set by the Congress, independence to pursue those legislated objectives as efficiently and effectively as possible, and accountability to the Congress through a range of vehicles. The rest of *Kohn's statement*<http://dailybail.com/home/fed-vice-chairman-donald-kohn-begs-congress-not-to-audit-the.html>is inside. <http://dailybail.com/home/recommend/4578937> Please HELP by *emailing our stories*<http://dailybail.com/home/recommend/4578937>to a few friends. Creating greater awareness among the sheeple is the only way we're ever going to stop the heist. Send *2 emails*<http://dailybail.com/home/recommend/4578937>and I'll get off your back. Thank you. Update From Senator DeMint on Ron Paul's Bill (S604 and HR1207) To Audit The Federal Reserve (Clip)<http://feedproxy.google.com/~r/TheDailyBail/~3/Sx9M246uqpk/update-from-senator-demint-on-ron-pauls-bill-s604-and-hr1207.html> Posted: 09 Jul 2009 06:03 PM PDT <http://dailybail.com/home/update-from-senator-demint-on-ron-pauls-bill-s604-and-hr1207.html>(CLICK IMAGE TO SEE VIDEO)Demint offers *some hope*<http://dailybail.com/home/update-from-senator-demint-on-ron-pauls-bill-s604-and-hr1207.html>for fans of H.R. 1207, Ron Paul's bill to audit the Federal Reserve. You are subscribed to email updates from The Daily Bail<http://dailybail.com/home/> To stop receiving these emails, you may unsubscribe now<http://feedburner.google.com/fb/a/mailunsubscribe?k=jfxWLYT5LeX5vyjTMqeLOk3HBBA> . 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