Friday, May 22, 2009

Clueless: Betty McCollum on the private Federal Reserve Bank.

If one asks Congresswoman Betty McCollum (D-MN, 4th CD) to support H.R. 1207, the bill that will require the Federal Reserve Bank to be audited, one receives the following disappointing and shallow response:

“Thank you for contacting me about the Federal Reserve. I appreciate hearing from you. The Federal Reserve system formulates the nation’s monetary policy. The discount and short-term interest rates are important tools the Federal Reserve uses to keep inflation in check, the value of the dollar reasonable, and the overall economy healthy. This system offers some of the Federal government’s most effective tools to fight inflation and keep our economy strong.”

Congresswoman McCollum’s strange mix of tacit admission of tyranny and doublespeak boggles the mind of anyone employing common sense. I contacted Betty McCollum’s office and specifically and politely criticized the monopoly of one private Central Bank, the "Federal Reserve," on the issuance of credit and currency in this country. Her response explains, in a general sense, that indeed this is what is going on.

Imagine dollar bills and credit as baseball cards, and that you are the owner of an original Honus Wagner, of which there are very few in existence and are of significant value. Then imagine, by fiat of the government, someone or something maintained the right by way of government declaration, that they could create as many Honus Wagner’s as they wanted. If you think this sounds fishy, then you are catching on. The reality is much more nuanced than this example, but the fact remains that the Federal Reserve Bank is private, and the Federal Reserve Board of Governors, a self-described “quasi-governmental entity” is separate from the bank itself. The Federal Reserve Bank is run by private interests for private profit.

I called Betty McCollum’s office to complain about this tyrannical system, and she responded as if I had no understanding of the subject whatsoever. Unfortunately for the constituents of Congressional District Four in Minnesota, we have a Congresswoman who apparently cannot or will not understand uncontested facts. Even members of her own party have signed on to H.R. 1207, and a few others have even extracted the testimony in Congress that more than demonstrates probable cause for this investigation:


Over $1.3 TRILLION of new money? We don’t know who or what received it? At this point, it is extremely difficult to draw any other conclusion other than that Betty McCollum is willfully ignorant of the circumstances under which her constituents suffer. There are numerous elderly and disabled people who reside within Congressional District Four in Minnesota, which encompasses much of the St. Paul side of the Metro area, and they are negatively affected by the ongoing ability of a few individuals to create money and credit out of thin air. By whatever means, many of these folks receive fixed amounts of money each month on which to live. If something is devaluing the money that they receive – by creating a lot of more it (well over $1.3 Trillion in this case), then these folks suffer. The food they buy, the energy, care and medicines they need all go up in cost as more money and credit is created. By inflating the currency, people on fixed incomes suffer. It’s theft without any tax being passed. The persons receiving the money first benefit the most (such as the friends of the Bankers, who apparently receive trillions in direct payments), and then everyone else pays. The prices at the grocery store lately are a telling manifestation of this artificial phenomenon.

Under the United States Constitution, the 435 member House of Representatives, apportioned by population, has the “power of the purse.” It is the House, which is most closely representative of the people, that will stop a private monopoly on the issuance of credit and currency and the de-industrialization and further destruction of our country vis-à-vis a massive Ponzi scheme and its feeder entities. H.R. 1207 is a strong salvo against this monopoly. This problem is not going away, and the confrontations over open books at the Federal Reserve Bank will continue. Someone who cares about the elderly and the disabled needs to occupy this seat, not Ms. McCollum who is apparently beholden to of the banks, medical monopolies, and other globalists who continue to occupy the institutional bureaucracy and significant portions of our representative government. This congressional seat belongs to the people of the Fourth Congressional District and not to Ms. McCollum.

Please contact Betty McCollum at (202) 225-6631 and ask her to help the disabled and elderly by ending the ongoing purposeful and willful degradation of their lives by currency devaluation. Ask her to join with humanity and co-sponsor H.R. 1207.


Lorri said...

Better version of the second youtube vid.

bob said...

Damn right!

Norann said...

I explained it to my mom, social security recipient, like this:

We're playing Monopoly and you're winning big. I leave to use the restroom and on my way back, I hit the game closet and grab some 100s from the other Monopoly game.

She interrupts: "that's cheating!"

Now you understand the Federal Reserve, Mom.

Perhaps a bit oversimplified, but if you only have 30 seconds to talk to someone in a line at Caribou or Cub, it needs to be simple, direct - and helps if it's repeatable.

Mamasooz said...

Nathan, thanks for this informative post, and Norann, I love your Monopoly analogy! I'm going to use it!