The continued corruption of the Federal Reserve Bank by
Goldman Sachs shows why Hillary Clinton’s restructuring plan needs to take
place NOW.
Thomas Jefferson predicted the financial collapse of 2008
when he said "If the American people ever allow private banks to control the issue of their currency, first by
inflation, then by deflation, the banks and corporations that will grow up
around them will deprive the people of all property until their children wake up homeless on the continent their
Fathers conquered.” He went on to say
banking institution are more dangerous to liberty than standing armies.
In 2008 congress claimed no one could have predicted the global
financial collapse, they were lying.
Congress refuses to reign in the Central Bank and provide
oversight. Congressman like Ron Paul have
had limited success in auditing the Fed, while others like Bernie Sanders want
to dismantling the Fed. Hillary Clinton has
proposed the only viable plan.
Restructure the Fed
According to Matt Taibbi, Hillary’s bottom-up plan is to rebuild the Fed from its fundamentals
at the regional level. The Fed is a
bankers’ institution run for banks and by banks. The Fed is run by a seven-member board
located in Washington, along with a dozen regional Fed bank presidents located
throughout the country. The members in
Washington are selected by the president and vetted by congress.
However, the regional presidents are chosen by the financial
industry and are either bankers or career Fed employees. Taibbi writes, “New York's regional president
is Willian C. Dudley, previously a Goldman
Sachs managing director. Robert S. Kaplan of Dallas was a former vice
chairman at Goldman. Neel Kashkari…
is a former employee of PIMCO, one
of the world's largest asset managers
and a subsidiary of German financial behemoth Allianz. Dennis P. Lockhart, president of the Federal Reserve Bank
of Atlanta is a former Citigroup
executive.”
What Clinton has proposed is removing bankers from the
regional boards. It’s a big deal because
if those regional Fed presidents were comprised of business people the risky
activity that brought down the global banking system in 2008 would never have
happened.
Banks fight Hillary
In the 2008 Wall Street Banks laundered three-quarters of a
billion dollars into the Obama campaign after super delegates, led by Chuck
Schumer, Joe Biden and Ted Kennedy gifted the nomination to Obama; he lost the
popular vote to Hillary Clinton. What
did the banks get for their money? A
massive bailout.
Today it was reported that the Fed has fined Goldman Sachs a
tawdry $36 million for the theft of confidential information. In 2014 a junior Goldman banker, who was
previously New York Fed employee, took confidential information from the
Federal Reserve Bank of New York. The
information included “confidential reports prepared by banking regulators,”
which Goldman used in presentations to current and prospective clients “in an
effort to solicit business.”
Hillary’s plan would put an end to that criminal behavior
and that is why FBI Director Comey has made statements that contrasted the
findings of career investigators who exonerated Hillary. Comey failed to reveal that prior to becoming
FBI Director, he was legal counsel for HSBC, the London bank that laundered
money for terrorists and drug cartels in the US.
Alan Grayson who is running for the Senate Seat in Florida
has been the victim of a smear campaign run out of the White House. Obama, Biden and Schumer are backing Patrick
Murphy. This country can’t wait for
Hillary, the Fed must be restructured NOW.
By Patricia Baeten
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