2009-08-02lewrockwell.com

This thought of depositors finding out which banks are at risk is what the Federal Reserve was created in 1913 to prevent. The banking cartel must prevent bank runs from spreading. If the public had explicit information on what the FED did and why, the public would be in a position to pull their money out of illiquid, economically insolvent large banks.

Bernanke feigns a fear of Congress setting policy. What he is afraid of is depositors setting policy. He does not want depositors to see which banks are at risk.

Now you see why the Fed is desperate enough to hire former Enron-lobbyists to advocate for them in public, for the first time ever. The anti-competitive banking cartel, which controls the banking system and entire money supply of this country, is being questioned.



Comments:

catherine at 10:42 2009-08-03 said:
that's the kick - all of this crap used to be done secretly behind the curtain with no one paying too close attention - OLD DAYS----

everyone is watching now, they are becoming broke and unemployed and have nothing else to do BUT PAY ATTENTION.............

FDIC, INSURANCE AND PENSIONS ARE BROKE and there isn't enough money to cover them all ---WHICH ONE DO YOU PICK? Permalink

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