See other Editorial Articles
Title: Kucinich bill seeks to end the Federal Reserve
Source:
[None]
URL Source: http://www.rawstory.com/rs/2011/12/ ... ks-to-end-the-federal-reserve/
Published: Dec 1, 2011
Author: http://www.rawstory.com/rs/2011/12/01/ku
Post Date: 2011-12-01 17:34:13 by tom007
Keywords: None
Views: 379
Comments: 13
Kucinich bill seeks to end the Federal Reserve By Stephen C. Webster Thursday, December 1, 2011 Print 60 Rep. Dennis Kucinich (D-OH). Photo: AFP. Topics: congressman dennis kucinich ♦ Kucinich A bill put forward by Congressman Dennis Kucinich (D-OH) would do what libertarians and conservatives have long wished for: effectively end the Federal Reserve. The National Emergency Employment Defense (NEED) Act of 2011 would place the Federal Reserve, a private, qusai-governmental institution that controls the nation’s monetary policy, under control of the U.S. Treasury. It would also implement new rules for the financial industry, in hopes of ending the worst abuses that created the 2008 financial collapse and the ensuing recession. Listening to Kucinich speak about the Fed, one gets the sense that he’s moved even closer to the position typically championed by his polar opposite in the House, arch-conservative Congressman Ron Paul (R-TX), currently a candidate for the Republican nomination to the presidency. Paul and Kucinich have both long agreed that something must be done about the Fed, formed by an act of Congress in 1913 as a way of stabilizing the banking industry. Both men have vocally supported audits of the Fed’s accounts, but Kucinich has not gone as far as Paul in most of his advocacy. Until now. “Ten million homes are in jeopardy,” he explained in a recent plea for support published to YouTube. “Fourteen million people out of work. Fifty million without health care. Endless wars. The Fed creates money out of nothing, gives it to banks, banks keep it on deposit, gain interest, pay high bonuses — fat city — while the rest of America falls apart. The Fed creates money out of nothing for the banks. Meanwhile, the rest of us have to be stuck in a debt-based economic system? I don’t think so.” “Now do you understand ‘Occupy Wall Street’?” he asked. Along those very lines, The NEED Act calls for “creation of money by private financial institutions as interest-bearing debts” to “cease once and for all.” It would also block commercial banks from betting depositors’ funds on risky investments like credit default swaps and derivatives, essentially restoring the wall of separation between commercial and investment banking that was toppled by repealing the Glass-Stegall Act. “Reclaiming the power of the Federal Government to create money, and to spend or lend money into circulation as needed, eliminates the need to treat money as a Federal liability or to pay interest charges on the Nation’s money supply to financial institutions,” the bill’s text reads. “[It] also renders unnecessary the undue influence of private financial institutions over public policy.” “This is the fundamental issue of our times: Who creates money, who gets it, and to what end,” Kucinich said. “The wealth of this nation is being accelerated to the top with the help of the Fed.” The video below is from the official YouTube account for Congressman Dennis Kucinich.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: tom007 (#0)
end the federal reserve. and don't replace it with a USA central bank, either.
Recall that both Lincoln and Kennedy were killed by the banksters. John Wilkes Booth was an agent of the European bankers, whom Linoln spurned when he created the Greenbacks to finance the War Between the States. Kennedy was killed after he signed a bill that created United States Notes, a direct threat to the Federal Reserve. "When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
I think your reasoning regarding no USA Central Bank is that the government can't be trusted. If that's the case I'd agree your distrust is certainly justified. That's the reason why commodity based currency is preferred, ie., silver and gold. The silver/gold backed currency system is Constitutional, could easily be monitored, and could even be made to operate at the average person's / family's level. My belief is that a transparent system wherein the stocks of gold and silver (and a couple other metals such as copper and nickel) serving to back the currency would be inventoried monthly by diverse teams of inventory accountants. There could always be a secondary system for the high rollers to wage high financial commerce in. The completely commercial paper system would work (or not work) like the one currently imposed upon everyone. This would allow the high finance crowd to TRUST each others promises to pay without involving the average man or woman. The important thing to note is that the people would never be required to enter that commercial system or subject themselves to the legalities of it in order to transact daily business. "Anyone intent upon achieving "smaller government" should consider quitting the current fraud."
Paul / Kucinich 2012 - NO SURRENDER
that is the case. The more people on board, the more likely something will get done. What is a calorie? Calories are the little bastards that get into your wardrobe at night and sew your clothes tighter... MY CLOSET IS INFESTED WITH THE LITTLE SHITS.
I've seen that suggested before. He has some stands that conservatives wouldn't like but I would vote for them. What is a calorie? Calories are the little bastards that get into your wardrobe at night and sew your clothes tighter... MY CLOSET IS INFESTED WITH THE LITTLE SHITS.
i just read an interesting article about mcclintock's admission that he voted for ron in 08, yet still will not endorse him for 12, (& refused to endorse him in 08 either). Ive got to do some more research on him. Seems a reliable disappointment
"Even to the death fight for truth, and the LORD your God will battle for you". Sirach 4:28
I have differences with some of the things both support but overall I think this would be by far the best combination. In a sense, one would offset the other and instead of a bush/cheney or obama/biden runaway train we would have a balanced administration.
I've had a few conversations with McClintock about his votes. He does listen to constituents. He has some very vocal people in the Roseville/Lincoln area. I can see him voting for Ron but not endorsing him. He doesn't want to alienate the GOP neocons. He does need their votes.
What is a calorie? Calories are the little bastards that get into your wardrobe at night and sew your clothes tighter... MY CLOSET IS INFESTED WITH THE LITTLE SHITS.
That's how I see it.
What is a calorie? Calories are the little bastards that get into your wardrobe at night and sew your clothes tighter... MY CLOSET IS INFESTED WITH THE LITTLE SHITS.
Good on Kucinich.
Can't go with that ticket. The placement of the Georgia Guidestones by the "Progressives" in the middle of the night was a complete game changer on the "gun control" issue for me. I was actually for some forms of "gun control" like competency based licensing similar to that for automobiles until I found out about the Georgia Guidestones and the true origin of the American "Progressives" and European Fascism in a 1881 novel by the name of Looking Backword. (Probably published by a Rothchild/Rockefellar owned publishing house.) Now I consider ANY "gun control" advocate (and Kucinich certainly IS ONE) to be guilty of aiding and abbetting GENOCIDE until it is proven otherwise.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams 
#2. To: Rotara (#1)
end the federal reserve. and don't replace it with a USA central bank, either.
#3. To: Rotara (#1)
don't replace it with a USA central bank, either.
#4. To: tom007 (#0)
#5. To: noone222 (#3)
If that's the case I'd agree your distrust is certainly justified.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#6. To: tom007, rotara, noone222, Original_Intent, Lod (#0)
“This is the fundamental issue of our times: Who creates money, who gets it, and to what end,” Kucinich said. “The wealth of this nation is being accelerated to the top with the help of the Fed.”
#7. To: Jameson (#4)
Paul / Kucinich 2012 - NO SURRENDER
#8. To: farmfriend (#7)
#9. To: farmfriend (#7)
#10. To: Artisan (#8)
#11. To: bush_is_a_moonie (#9)
#12. To: tom007 (#0)
I support the occupation
#13. To: Jameson (#4)
The FARO RESERVE BANK!!! 
Top • Page Up • Full Thread • Page Down • Bottom/Latest