Kucinich bill seeks to end the Federal Reserve

[Ares]

A bill put forward by Congressman Dennis Kucinich (D-OH) would do what libertarians and conservatives have long wished for: effectively end the Federal Reserve.

The National Emergency Employment Defense (NEED) Act of 2011 would place the Federal Reserve, a private, qusai-governmental institution that controls the nation’s monetary policy, under control of the U.S. Treasury. It would also implement new rules for the financial industry, in hopes of ending the worst abuses that created the 2008 financial collapse and the ensuing recession.

Listening to Kucinich speak about the Fed, one gets the sense that he’s moved even closer to the position typically championed by his polar opposite in the House, arch-conservative Congressman Ron Paul (R-TX), currently a candidate for the Republican nomination to the presidency.

Paul and Kucinich have both long agreed that something must be done about the Fed, formed by an act of Congress in 1913 as a way of stabilizing the banking industry. Both men have vocally supported audits of the Fed’s accounts, but Kucinich has not gone as far as Paul in most of his advocacy. Until now.

“Ten million homes are in jeopardy,” he explained in a recent plea for support published to YouTube. “Fourteen million people out of work. Fifty million without health care. Endless wars. The Fed creates money out of nothing, gives it to banks, banks keep it on deposit, gain interest, pay high bonuses — fat city — while the rest of America falls apart. The Fed creates money out of nothing for the banks. Meanwhile, the rest of us have to be stuck in a debt-based economic system? I don’t think so.”

“Now do you understand ‘Occupy Wall Street’?” he asked.

Along those very lines, The NEED Act calls for “creation of money by private financial institutions as interest-bearing debts” to “cease once and for all.” It would also block commercial banks from betting depositors’ funds on risky investments like credit default swaps and derivatives, essentially restoring the wall of separation between commercial and investment banking that was toppled by repealing the Glass-Stegall Act.

“Reclaiming the power of the Federal Government to create money, and to spend or lend money into circulation as needed, eliminates the need to treat money as a Federal liability or to pay interest charges on the Nation’s money supply to financial institutions,” the bill’s text reads. “[It] also renders unnecessary the undue influence of private financial institutions over public policy.”

“This is the fundamental issue of our times: Who creates money, who gets it, and to what end,” Kucinich said. “The wealth of this nation is being accelerated to the top with the help of the Fed.”

The video below is from the official YouTube account for Congressman Dennis Kucinich.


http://www.youtube.com/watch?v=oUpXDZFtEHw

Link to video-----> http://www.youtube.com/watch?v=oUpXDZFtEHw

http://www.rawstory.com/rs/2011/12/01/kucinich-bill-seeks-to-end-the-federal-reserve/

[PlatinumBlonde]

Would love to see Paul and Kucinich form a fusion ticket for 2012.

[osoab]

Is Kucinich going to introduce a bill to ban AF1 flights for congress critters?

[JohnQPublic]

Awesome.

Usual stupidity displayed in the article (not Kucinich's fault):

"...Listening to Kucinich speak about the Fed, one gets the sense that he’s moved even closer to the position typically championed by his polar opposite in the House, arch-conservative Congressman Ron Paul (R-TX)"

They are not polar opposites. They are actually a lot closer than either is to most mainstream reubricrats or demipublicans.

[JohnQPublic]

siv0 Commentary (http://derivativescollapse.com)



...

April 15, 2008

Ron Paul in his April 14 article "Bailing Out Banks (http://derivativescollapse.com/index.htm#Ron%20Paul) finished with, "Rewarding poor performing financial institutions is bad enough [i.e., the investment banks], but rewarding the institution that enabled the current economic crisis is unconscionable [i.e., the Fed]. Siv0 agrees on this point. Please visit www.TakeBackTheFed.com (http://www.takebackthefed.com/). Note that what Ron Paul did not mention in his article was his House bill HR2755 titled "Federal Reserve Board Abolition Act". You can read this at www.TakeBackTheFed.com (http://www.takebackthefed.com/).
Note that quarterly reporting is just starting for many big corporations. We have started with "shocking" news from GE, followed by a wammy for Wamu. Now we are hearing of several dozen retailers filing bankruptcy. Be prepared for a deluge of bad news in the coming weeks.

[JohnQPublic]

Proclamation on the Federal Reserve System of the United States of America

www.RevokeTheFed.com (http://revokethefed.com/)

March 2008

WHEREAS, Article I, Section 8 of the Constitution of the United States of America authorizes Congress "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures";
WHEREAS, on December 23rd, 1913 the US Congress enacted the Federal Reserve System;
WHEREAS, the Federal Reserve System is considered an independent agency within the federal government, with oversight of Congress and containing appointed public officials on its board of directors;
WHEREAS, the Federal Reserve System Controls the Federal Reserve Note, the official currency of the great nation of the United States of America;
WHEREAS, there may be controversies regarding the legality and constitutionality of the Federal Reserve System, it is recognized that the said system has operated continuously as the central banking system of the United States since the inception of the Federal Reserve Act of 1913;
WHEREAS, the Constitution of the United States of America granted Congress the authority to create the current Federal Reserve System, it also does grant Congress the authority to modify or revoke the Federal Reserve System;
WHEREAS, the actions of the Fedreral Reserve System represent the credit and currency of the United Stated of America to the citizens of this great nation and to the world;
WHEREAS, the Federal Reserve System, acting independently within the federal government allowed, supported, and even promoted parasitical and non-productive uses of the money and credit of the United States of America;
WHEREAS, the United States and likely the entire world's financial system is undergoing massive de-leveraging of the said parasitical and non-productive uses of the credit and money of the United States of America (as well as other nations' currencies);
WHEREAS, the US dollar, the "Federal Reserve Note" is declining in value due to these parasitical activites, as well as potentially other causes;
WHEREAS, it is recognized that the citizens of the United States and other nations did willingly participate at some level in the creation and propogation of said parasitical activities;
WHEREAS, it is also recognized that the United States of America, a sovereign nation, has the legal, moral, and God given authority to take actions to benefit its citizens and to protect its good name, credit and money in times of difficulty;
WHEREAS, it is recognized that the current time is such a time of great difficulty;
WHEREAS, it is recognized the parasitical financial institutions and their activities are at odds with citizens of the United States of America and the good credit and money thereof;
WHEREAS, the current indications are that the Federal Reserve System is acting to preserve the financial system currently flooded with the parasitical activities;
WHEREAS, the current indications are that the neither the Federal Reserve System, nor the Congress of the United States, nor the people of the United States have access to the books of the institutions being preserved by the Federal Reserve, and therefor the degree of inter-connectivity and risk associated with the institutions and other entities cannot be determined;
WHEREAS, the Federal Reserve System is accepting non-performing assets as collateral for credit with ultimate taxpayer responibility to entities not under its legislative mandate;
IT MUST BE CONCLUDED, that the Federal Reserve System is not acting to the benefit of the people of the United States of America, its credit, money, and good name;
WHEREAS, it is recognized that the political will and capability of the government of the United States of America may not be up to the task of prosecuting this proclamation ; It is also recognized that this may be the only hope for the continued survival of the United States of America as the great nation as it has historically existed.
NOW THEREFORE, it is PROCLAIMED by those supporting this Proclamation that the Congress of the United States of America FULLY NATIONALIZE the Federal Reserve System, and take full control of the credit and money of our great nation; The Congress must take whatever action necessary to seperate out, sequester, disown, or otherwise neutralize the effect of the parasitical financial activities which led to the current crisis; The Congress of the United States of America must reorganize, replace, or terminate the Federal Reserve System as appropriate; or otherwise devise a system for creation of the national currency.
IT IS FURTHER PROCLAIMED, that the Congress of the United States of America in cooperation with the Executive of the United States of America contact allied nations and any other nation willing to participate in the overhaul of the failing and parastical financial sytem currently in operation and create new treaties and alliances as necessary to create a sane and productive system of finance with the express goal of supporting a productive national, and by extension and through voluntary cooperation, world economy;
FURTHERMORE, it is PROCLAIMED that it should be the goal of such an international effort to maintain fair international trading practices allowing for protection in national interest of labor, resources, and productive capabilities;
WHEREAS, it is recognized that such a move on the part of the United States of America may result in the necessity of an isolationist policy IF the other developed nations do not follow our lead; If such occurs, so be it.
SO HELP US GOD!

[iOWNme]

Is Kucinich up for re-election?

I wouldnt trust this cheap suit with a zinc plated penny. He might give it to his Zio handlers.


Shouldnt we really be aware of fake politicians who years ago had a chance to really make a difference before TSHTF? Now that it is 'popular' to be patriotic, these maggots are crawling out of the woodwork. I smell a RAT!

[JDRock]

he'd better never get in a plane at the same time as ron paul...

[osoab]

he'd better never get in a plane at the same time as ron paul...

Kucinich loves plane rides, especially in AF1!

[big country]

Kucinich sued the US House cafeteria because he claims he broke his tooth on an olive pit. He filed this suit 2 YEARS after he claims it happened...

http://www.cleveland.com/open/index.ssf/2011/01/rep_dennis_kucinich_sues_cafet.html

[learn2swim]

For a Socialist, he's good guy. His heart is in the right place, he just goes about it in the wrong way.

[JDRock]

Kucinich loves plane rides, especially in AF1!

so kusinich is a tool?? just askin have yet to look in to this.

[osoab]

so kusinich is a tool?? just askin have yet to look in to this.


Kucinich drops opposition to health-care bill (http://voices.washingtonpost.com/44/2010/03/kucinich-drops-opposition-to-h.html)


Obama Brings Dennis Kucinich On Air Force One For Health Care Speech (http://www.huffingtonpost.com/2010/03/15/obama-brings-dennis-kucin_n_499313.html)



Traveling to the Cleveland area to make yet another major speech for passing health care reform into law, President Barack Obama chose as a travel companion one very skeptical lawmaker.

Rep. Dennis Kucinich (D-Ohio) is from the area where Obama is speaking. That would normally make his appearance on Air Force One Monday morning a non-event. But the Ohio Democrat also happens to be one of, if not the only progressive holdout in the House, on health care legislation. And he has hinted strongly that his vote, which could be the deciding margin, is firmly in the "no" camp.