Friday, July 10, 2009

The Federal Reserve Warns Congress That Financial Markets Will Destabilize if H.R. 1207 Passes!

The Federal Reserve has once again warned Congress that Congress should not attempt to audit the Federal Reserve bank under Ron Paul's H.R. 1207 "Audit the Federal Reserve Bill." The following information may have been said numerous times by numerous people, but I'll say it again for the record, the Federal Reserve is a private banking consortium.

The Federal Reserve warned on Thursday that a growing congressional threat to curtail its independence would destabilise markets and raise the cost of servicing US debt for “current and future generations."

When I hear someone say "destabilise markets," then I take that as a threat of what will happen, because the Federal Reserve is a subsidiary of banks that controls the financial markets. The markets cannot be destabilized unless the Federal Reserve causes them to be so. Isn't a threat against financial markets an act of "domestic terrorism" under the U.S. Patriot Act, Section 802?

The Section 802 elements are almost all in place:

1. Intimidate or coerce a civilian population --> I believe a warning by the Federal Reserve to Congress that the financial markets would destabilize and the cost of servicing US debt for “current and future generations" would increase constitutes intimidation and coercion of the Congress, which is representative of the civilian population.

2. Influence the policy of a government by intimidation or coercion --> The statement was made Donald Kohn, vice-chairman of the Federal Reserve, with the intent to influence Congress to abandon its attempts to audit the Federal Reserve under H.R. 1207.

3. To affect the conduct of a government by mass destruction, assassination or kidnapping --> This would be hardest element to prove up, but if the markets are destabilized, then that could potentially be considered a mass destruction on a financial level. Without financial markets, the U.S. could easily dissolve to martial law, food riots, rationing and civil disorder which would likely qualify as mass destruction.

4. The act must occur primarily within the territorial jurisdiction of the United States --> Mr. Kohn made the statement at a House financial services subcommittee hearing in Washington, DC, which is within the territorial jurisdiction of the United States.

Source:; Financial Times

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