by Bob Chapman
We hope people are starting to realize that the privately owned Federal Reserve runs our country, not our branches of government. The new proposal to give the Fed new powers is the worst possible thing that could be happening to our country. It is a total centralization of banking and financial power.
All financial services would be overseen by the same characters that we see each day that evolve through the revolving door from Wall Street to Washington. The Fed would supervise all firms that are involved in finance based on the premise that they could be a treat to the stability of the financial system. There would be another new czar to supervise all federally chartered banks. All current regulatory loopholes would be closed so that the Fed would have total control of all financial firms. In addition, all hedge fund and private equity advisors would come under Fed control. This is nothing less than total financial control of our lives. It leaves government as an afterthought.
As the Fed wraps this up in the US the same is being done in Europe and worldwide, so it can be harmonized. We would become part of an international structure called the Financial Stability Board, which you have seen pushed hard in England and France.
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