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Danger Lampost

Futurist & Technology Consultant,

TEDCRED 20+

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Should the Federal Reserve System be under the control of our elected officials?

According to the United States Federal Reserve System's Board of Governors, the Federal Reserve System "is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms." [Source: http://www.federalreserve.gov/faqs/about_14986.htm]

Poll after poll says significant majorities of Americans want to either abolish or open up the U.S. Federal Reserve to public review. [One example: http://www.bloomberg.com/news/2010-12-09/more-than-half-of-americans-want-fed-reined-in-or-abolished.html.] Since their policy has such a significant impact on all of us (even world wide) , and since the power to control our currency explicitly rests with the Federal Government, you would think Congress could change this if it were not tied up in knots such as it is.

Would anyone - could anyone - argue against putting the Fed under control of our elected officials?

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    Apr 9 2013: I don't know if VPOTUS is a TEDster and is following your question Danger, but here is what he told bankers last Friday at the Export-Import Banker's Conference in D.C.: "We must create a “new world order” with new financial institutions, updated global rules, a level playing field, and a prosperous China. . . the affirmative task we have now is to create a new world order.”
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      Apr 9 2013: George H Bush spewed that crap too with the thousand points of light.

      I guess that goes to show you that the rumors of Benny stating that his fix to the current debt problem is to create a new world currency are true. At which point I guess he will say you can no longer own gold and we will give a buck fiddy of the new for 5 of the old. If you don't we are going to shoot you with a drone.

      I mean when your think about the income tax along with tax they call social security even the average joe pays at least a million dollars in taxes in his life on top of that the state rakes 7.75% off the top of every transaction except food. That is 15.4 % for SS and what a minimum of 15% for the POTUS = 30.4 percent and then in my area 7.75 off the top for what is left = 38.15% State income tax of what 5% = 43.15% then before you pay property tax of what 1% minimum depending on the state and gas tax at .36 a gallon etc etc etc

      Then the kicker inflation runs at 10% a year? if you include things like housing and fuel But with Benny printing so much money inflation is going to kick in sooner or later to the tune of a lot more than 10%

      Point is we are slaves as it is let alone if they create a world currency. And now you know the rest of the story and why Vladimir and Boris hit the Vodka so hard.

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