Tuesday, August 24, 2010

Federal Reserve Secrecy

The Federal Reserve, authorized by Congress to run the monopoly over our money since 1913, sent bail-out funds to it's banker buddies and now wants to keep that information secret. Apparently the private Federal Reserve will appeal to the Supreme Court, to keep their dealings secret.

The Fed's argument for keeping the bailout secret is:
... disclosure of the documents threatens to stigmatize borrowers and cause them “severe and irreparable competitive injury,” discouraging banks in distress from seeking help. The appeals court panel rejected that argument.

The people also want to know the non-banks that received bailouts.

Why do we allow a secret organization to continue to control our money? When will we end the Fed?

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