Don't Blow a Gasket

I haven't been reading as much political rhetoric lately, well up until 2 days ago. I started delving back into it. I am not sure I should have. There is a lot of garbage going on that makes my blood boil. On a good note, the rep for our congressional district did just sign up as a co-sponsor for HR 1207 which is a bill to demand the Federal Reserve be audited. They are getting a growing number of reps to support this bill and I have hope it will actually pass. It would make things rather...interesting.

That being said, on the other side of this issue, the Obama administration is pushing Congress to give the Federal Reserve sweeping new oversight powers and asking that it be passed through quickly. According to an AP article, it will be the biggest regulatory change since the 1930's. Why are we in such a hurry, AGAIN, to pass sweeping legislation? Slow down, Nellie! Let's actually think these things through. They already passed 1000 page bail-out bills giving the Congress something like 24 hours to read the entire thing. How ridiculous!

In any case, I am against giving the Federal Reserve more power, but any of you that have been reading my opinions for a while will already know this. They are only a quasi-governmental agency, meaning some of their board of directors are chosen by the President and the chairman testifies before Congress on occasion, but even our former Fed Chair, Alan Greenspan, said as recently as this year that the Fed is above any public scrutiny. Excuse me? You print our money and then charge us interest on that money. You set the national interest rates. You basically determine monetary policy for the US and you are above our scrutiny? I vehemently oppose this. This is why more power should not be given to them and this why they need to be audited right now! If they are only being benevolent and doing what's best for our country then those at the Fed should happily open their books up for an audit. Let's prove to all us skeptical Americans who don't trust the Fed that there is nothing for us to be worried about. The fact that the Fed is often seeking more power and saying they are above scrutiny should be a key indicator that something is and has been afoot at the Federal Reserve since its inception in 1913. In fact, I challenge all you reading here to do a little research into how the Federal Reserve was formed, taking special note of meetings at Jekyll Island and when the bill was passed. You should also see what President Wilson, who signed the Federal Reserve Act into law, said about that bill on his death bed.

I was really mad about it again this morning. I really, really hate the Federal Reserve, probably more than almost anything, and I am not a hateful person. There are very few things I hate besides pickles, mustard, olives and the University of Kentucky's basketball team. Brett even asked me this morning if I hated the Federal Reserve more than Kentucky and I said yes. He then told me not to blow a gasket because he knows how much I hate really hate the UK basketball team, and to say I hate the Federal Reserve more is pretty serious stuff. Ok, rant off.