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I sort of like Grayson but I disagree with his premise that we beat the Fed,in reality they beat us.The bill that Grayson/Paul sponsered together in the House became the Vitter amendment in the Senate was soundly defeated.Of course the defeat was a bi partisan effort lead by puke {R}s Shelby{Ala} and Gregg {NH} and Dodd and Sanders from the {D} side.
Grayson had this to say:
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“The Senate audit provision isn’t as strong as what we passed in the House,” writes Grayson, adding, “The Senate provision has only a one-time audit, whereas what we passed in the House would allow audits going forward. There will be a conference committee that will merge the provisions from the two bills….So we will be fighting on to get a full audit from the conference committee.”
The reality that Grayson is not seeing is the conference commitee is not going to merge the two bills.Why would they?their bill{Vitter's amendment} was defeated soundly and he has to know that Obama will not support anything but Sanders watered down version.
Here is what Ron Paul said:
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I think Bernie is counting the votes, he claims he has to have 60 votes to pass anything. But you know, if Dodd is supporting what Bernie wants to do as well as Reid has said that he would support Sanders, and if they’re supporting it it means the president is going to sign it, and if they’re all supporting it, I would be very suspicious that the Fed is quite aware of this and they’re satisfied with this and maybe they think they’re getting off the hook.
It is a done deal the Fed it is getting a slight audit for one year only.But the most important part of the audit is left out:
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Ron Paul: You know, that’s a good point. I just wonder maybe that might be. I talk a lot about the foreign entanglements with loans and guarantees as being a major issue and also the discount window where they can make loans to governments. By the way, the Bernie Sanders amendment would not permit auditing of the discount window,
Alan Grayson: “We Beat The Fed†| Ron Paul 2012 | Campaign for Liberty at the Daily Paul (http://www.dailypaul.com/node/134414 - broken link)
I know it is pathetic to bump my own thread considering that 27 people read it and there was not one response. The point I making was that our leaders will go up to the line but never cross it.Meaning they will talk tough to the FR and banksters but in reality there will be no real reform.
Today I saw another line that is not crossed,and that is {R}s talking tough and being conservative but not really crossing that line.
Here is a good example and is about the EU bail out which is part of the subject in this thread:
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"All across America, people are suffering from bailout fatigue and yet the Obama administration is launching a new bailout bonanza: $8 billion in U.S. tax dollars for Greece, over $50 billion for the European Union, and perhaps billions more as European governments face the inevitable fiscal crunch caused by generous welfare benefits whose costs have become too exorbitant to pay," said House Republican Conference Vice Chair Cathy McMorris Rodgers (R-Wash.), in prepared remarks.
This sounds conservative,how can our broke a$$ country afford to give 58 billion dollars to the EU?The American people did not support our bail out why would they support theirs?She even throws in how welfare programs have become to expensive,and knocks Obama for having a "bail out bananza".This type of talk would have made Reagan proud,but then the {R}s wrote a bill:
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The bill, titled The European Bailout Protection Act, prohibits any funds that have been drawn by the IMF from financing an EU bailout until all EU nations are in compliance with their debt-to-GDP ration requirement. It also requires the Treasury Secretary to oppose any IMF loans until all EU countries abide by the aforementioned ratio. House GOP introduces bill blocking EU bailouts - The Hill's On The Money
Did you get that? being fiscal conservative flew right out the window.They are saying if the EU gets in compliance we will gladly give them the 58 billion.What happened to Americans having bail out fatigue?What happened to being fiscal responsible and against running up debt?Do they realize that they are joining Obama in his bail out bananza?
The bill is all show and meaningless,the IMF is making the countries enforce austerity measures and come into compliance.Here is another all show and meaningless effort by Cantor to cut 6 billion in spending. //www.city-data.com/forum/polit...d-project.html
Reagan would be so proud they might cut 6 billion and then spend 58 billion bailing out other countries.See,the {R}s will not cross the line and that is why in my eyes they will always be just {R}s there is nothing conservative about them.
It won't happen. Maybe we'll see a 3000 point drop in the DJIA in a 20 minute span when this comes up for debate.
As Maxwell Smart would say "the old flash the stock market down trick" it works everytime.The part I do not understand is where is the outrage in this forum or the whole country for that matter.Here we are beyond broke and handing out 58 billion.That does not include the money that Barnanke is going to give out thru his "discount window".
I posted before where 5 of our biggest banks have like 2 trillion in bonds in the EU,they will be first in line.Just like our bail out did not help us but sure helped the bankers.When will they see the game?Funny how a good portion of people still think one of the major parties will save us.
As Maxwell Smart would say "the old flash the stock market down trick" it works everytime.The part I do not understand is where is the outrage in this forum or the whole country for that matter.Here we are beyond broke and handing out 58 billion.That does not include the money that Barnanke is going to give out thru his "discount window".
I posted before where 5 of our biggest banks have like 2 trillion in bonds in the EU,they will be first in line.Just like our bail out did not help us but sure helped the bankers.When will they see the game?Funny how a good portion of people still think one of the major parties will save us.
I'm kinda stumped too that there is no outrage.
The US just pledged billions to the IMF as well for European country bailouts.
Apathy, denial, indifference ????
They seem to be focused on "taxing the rich" rather than defeating the banking cartel that is ruling our country.
"Yesterday, in a letter to Chris Dodd, the chairman of the Senate Banking Committee, Federal Reserve chief Ben Bernanke reiterated his opposition to a measure that may be the financial reform proposal most feared among the large banks.
The provison put forth by Sen. Blanche Lincoln (D - Ark.) would require that banks spin off large portions of their derivatives trading operations. Five banks dominate the derivatives market, holding "97 percent of the total $212.8 trillion worth of derivatives contracts held by U.S. commercial banks," Reuters notes."
Yes, Ben Bernanke is doing this for ONE reason only... not for the big banks or anything like that... its to fully protect the UBER-wealthy... if they did, the Uber-wealthy will lose a large chunk of their wealth... Apparently the Federal Reserve is as corrupt as it seems... the banks can survive the loss of derivative trading as they did before derivative trading... the only losers are the Uber-wealthy... and because congress is not going to stop it... the American taxpayers are the losers as we pay the banks/uber-wealthy any losses they incur with derivative trading but at least they get to keep all the profits if they win... isn't that nice?
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The point I making was that our leaders will go up to the line but never cross it.Meaning they will talk tough to the FR and banksters but in reality there will be no real reform.
