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« The Bailout Emperor Has No Clothes | Main | Arsonists With Fire Insurance: Goldman And The Collapse Of AIG (Janet Tavakoli) »

MUST SEE VIDEO: Dennis Kucinich Calls For Congress To Take Back The Power Of The Purse, Demands The Abolition Of The Federal Reserve

Video - Dennis Kucinich - May 31, 2011

Brilliant 1-minute clip.  Kucinich takes to the House floor.

  • "We have plenty of money for war, Wall Street, and welfare for the rich."
  • "The Founders did NOT intend for America to be run by Wall Street."

Kucinich is correct.  The rationale for the Fed's existence is that Congress couldn't be trusted with the power to coin money, given their penchant for irresponsible spending.  The thinking goes that whichever party were in power would utilize massive spending (since deficits would no longer exist) as a means to guarantee (buy) their continued existence as the majority party.  So the Fed was created and the Constitutional authority to print our currency was handed to a group of private bankers.

The result was that all Federal deficits had to be borrowed and interest paid to the Federal Reserve, all to prevent the destruction of the dollar through wanton spending and printing by Congress via the U.S. Treasury.

I'm sure you see where I'm going here...

In the past 4 years, the Fed has completely abdicated their duty and charter to protect the dollar.  The Fed now prints with reckless abandon, under the guise of saving the economy, but the money is going to Wall Street and big banks in stealth QE maneuvers (and so-called emergency bailout programs), and NOT to the people.

It's time for that experiment to end.  Our nation's 3rd central Bank (the Federal Reserve) needs to suffer a quick and excruciatingly painful death.  Congress couldn't do any worse of a job destroying the dollar and we would no longer owe anyone interest on the debt.  For example, a $1.5 trillion deficit could be printed away by Congress essentially for free.

Yes, there are dangers inherent in this proposal.  Banksters might also end up being the recipients of Congressional largesse in the same way they are the beneficiaries of Bernanke's helicopter, but after 4 years of money-printing for Wall Street, it's high time to give it a shot.

Honestly, at this point, and in the opinion of this author, it couldn't be any worse than Bernanke's never-ending, Wall Street-loving, QE-managed trainwreck.


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Reader Comments (25)

Peeling back this onion reveals layers upon layers of deception and misunderstanding. For example, what good does it do to abolish the FED, when they are in large part a front for the Exchange Stabilization Fund, i.e. Treasury. Treasury is the custodian of physical gold (all 7000 tons of it if you can believe that) and the secretary of the Treasury reports to the IMF, just as the FED reports to it's shareholders, the Too Big To Eat Shit and Dies, and they all roll up to the Bank for International Settlements.

Bernanke is only responding to the hyperinflation of DEBT already WELL underway. He is buying it outright for cash (worthless paper) as the banks closest to the flow of fiat money race to convert it.

In an expanding economy, debt may be considered an asset. In a collapsing economy, debt must be considered a liability. The “dollar as debt” is a derivative of the “dollar as wealth” … wealth without basis. Soon the world will see this liability, and the FANTA$Y will end.

Ironically, within a few months, Kucinich will BEG Bernanke to print away, they all will to save their asses (their jobs and their paychecks) as the most massive currency hyperinflation the world has ever known unfolds in a series of extreme panic responses. Hyper-INFLATION of all things in relation to paper and hyper-DEFLATION of all things in relation to real money, or "wealth with basis".

Then the BIS, will appropriate Treasury's holdings of that "basis" to balance global "sovereign equity". Life goes on....
Jun 7, 2011 at 12:25 PM | Unregistered CommenterWil Martindale
the secretary of the Treasury reports to the IMF...


I follow and understand everything you wrote, but this is new to me...can you explain this further...
Jun 7, 2011 at 12:31 PM | Registered CommenterDailyBail
Facebook Used by Courts to Find Those Who Are ‘Only Online’



Two years after an Australian lawyer caused a stir by sending a foreclosure notice via Facebook, the practice of online legal service is spreading as a means for courts to keep their dockets moving.

Courts in New Zealand, Canada and the U.K. have adopted the Australian example to avoid having cases stall when people can’t be located and served in person. Lawyers said the U.S. may not be far behind in using the world’s most popular social- networking service.
Jun 7, 2011 at 1:38 PM | Unregistered Commenterjohn
Cruise passengers tell of seven-hour security 'revenge' nightmare


read this story...why would anyone want to vacation is the U.S....it's a security nightmare...
Jun 7, 2011 at 1:48 PM | Registered CommenterDailyBail
New Legislation Seeks to Slash Federal Workforce by 10% -- But Opens Door for White House Waivers



A bill that seeks to reduce the federal workforce by 10% over the next few years was introduced today by House Committee on Oversight & Government Reform Chmn. Darrell Issa (R-Cal.) and subcommittee leaders Dennis Ross (R-Fla.), and Jason Chaffetz (R-Utah).

The legislation aims to accomplish that goal by limiting the hiring of one new federal employee for every three who leave their jobs or retire. The Reducing the Size of the Federal Government Through Attrition Act of 2011 (HR-2114) supposedly would save taxpayers $127.5 billion over ten years.
Jun 7, 2011 at 1:53 PM | Unregistered Commenterjohn
Perhaps every American should have their very own ACME money printing machine to keep up with the crooked FED, then we can all print money out of thin air :)

{PS: Someone forgot to woop Wilson's ass 99yrs ago}
Jun 7, 2011 at 5:00 PM | Unregistered Commenterdick W

"This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: “The U.S. Secretary of Treasury receives no compensation for representing the United States ..."

That's pretty well "out there". But spend about 20 hours here (the topics are heady and need to be reread some times) and you'll break free from the paradigm that the 98% have been conditioned to "see" and you will see the perspective of the 2% we think we hate. ;0)

This blog has only had 2 million hits. When it's 200 million you'll no longer recognize the "way of life" we think we're protecting.
Jun 8, 2011 at 8:23 AM | Unregistered CommenterWil Martindale
Welcome the the United States of America Corporation Wil, and your straw man certificate & life are pledged as collateral.

Jun 8, 2011 at 9:37 AM | Unregistered CommenterS. Gompers
Indeed it is Gomp, indeed it is.

There is only one thing we can do, since we know beyond a shadow of doubt that the Politicians will save the debt at any cost (to save the system). QE3 is coming, and QE4 to QE end game, whenever the final run hits is Guaran-fuckin-teed!

As I see it, the only thing we can do is buy and hold gold. We aren't wealthy enough to make a big diffrerence but if everyone did it, it would accelerate the run on physical gold that's been underway ever since LBMA went public with it's flow report, back in 1997. China has certainly done their part, and continues to, as have the oil rich sovereigns.

The day that a medium sized player like Soros comes running out of a bullion bank screaming, "they won't settle my account in physical" you will see the worlds most well managed run (just look at the steady gradual rise of gold priced in dollars since then) break out into the PANIC global bank run of ALL TIME. The BIG players aren't even "players". They are best described as "holders".

You can fractionalize paper until the derivatives are in the quadrillions (they nearly already are) and bail out that debt with more worthless paper until the cows come home. Governments will drop it all on your front lawn to save the system.

It will be the run on "paper gold" that ends the current international monetary and financial system. Shrimps like us, buying and holding gold at any paper price we can afford to simply makes us part of the solution instead of part of the problem.

There ... I'm a gold bug, but certainly not the garden variety kind. You go from "activist" to "realist" in one fell swoop.

Difficult to comprehend at first, but see:

Many hours to digest, but well worth the time.
Jun 8, 2011 at 11:01 AM | Unregistered CommenterWil Martindale
Yes China has done her part, while we been playing banker bingo with the taxpayers future dime, the Chinese have been buying up every mineral asset they can get their hands on (physical, mines, etc.) globally. Meanwhile todays American ponzi captains will be tomorrows politician all to protect the fraud.

I already got a Lehman Brothers Managing Director as Governor in the last election, imagine if he can do for Ohio what Lehman did for the rest of America...

Third world paradise here we come.
Jun 8, 2011 at 11:15 AM | Unregistered CommenterS. Gompers
You wankers need to get off this fucking site and march on Washington. You do not have an option.

Jun 8, 2011 at 5:46 PM | Unregistered Commentermofo
hey mofo...what do you do to help the cause...do you run a website...do you have a radio show...a tv show...do you write for a newspaper...or do you just sit on your ass and insult people on message boards...we're doing everything we can....what about you?
Jun 8, 2011 at 6:41 PM | Registered CommenterDailyBail
We lose ourselves when we compromise the very ideals that we fight to defend. And we honor those ideals by upholding them not when it's easy, but when it is hard.
Jun 11, 2011 at 2:53 PM | Unregistered CommenterHarrison J. Bounel
" Dennis Kucinich Calls For Congress To Take Back The Power Of The Purse, Demands The Abolition Of The Federal Reserve"

I have so little trust in our Congress both the House and the Senate that it wouldn't surprise me at all to find out Rep. Kucinich is trolling for a big campaign donation.

After watching 114 turncoat Democrat cosponsors of HR-1207 sellout to the FED Lobby and vote against Audit the FED, nothing the congressional parasites pull surprises me anymore. I believe the 114 cosponsored the bill never intending to vote for it, they were looking for a handout and needed some leverage to get it. Just one example among many showing the rampant corruption that controls the Government of the U.S.A..
Jun 11, 2011 at 6:55 PM | Unregistered CommenterSagebrush
Plain and simple, let the system crash. If you're not selfsufficient, you die.
Jun 11, 2011 at 7:13 PM | Unregistered CommenterInurface

Ohio is losing two seats due to the census showing an exodus from the state. Redistricting is underway and I have a sneaky feeling that when the lines are drawn, Dennis may be out of a job. Follow what has happened to others who made the stand.

Money talks, and Ohio's last election put the bankers on top in Ohio, no fraud here...

Just good business.
Jun 12, 2011 at 1:00 AM | Unregistered CommenterS. Gompers
Gompers I think your right, to the bankers fraud is good business and if they can't buy a legislator who gets in their way they'll make damn sure they're gone one way or another.
Jun 12, 2011 at 9:37 PM | Unregistered CommenterSagebrush
hey mofo...what do you do to help the cause...@ DB, You Go Gurl.........................."LoL" !

Give Em Hell..... I've said many times it may be to late to take back our country. 2.3 million people marched on Washington and couldent get a tv camera crew to cover it, much less have someone to shoot at.

They all closed their blinds and went back playin on thAre puters, looking at porn......But it aint over by a long shot. Neaver ever give up till yr behind bars, or "Dead"..........

How can we cut off the head of the snake, stop paying our tax'es. "Yea Right", try that one anytime soon. The goverment has it set up that your Boss, MUST Take them out. So that aint gona work. If it did, only 10% of the people would have the Guts, to do it........

If we want to march, march on our own state capital. All 57 of them, right Bama...? That would get local tv coverage, and everyone watches the news at 6-10............................

Are we Screwed, Yea, Maby, but we still have the right to hold the jar of Vassaline..................................................... !
Jun 12, 2011 at 10:58 PM | Unregistered CommenterTexas Dar
Welcome the the United States of America Corporation Wil, and your straw man certificate & life are pledged as collateral.
Hey Gompers........

I found this almost 2 yr. ago. It Blew Me Away.....But taking it further, I found out how to buy your self Free from the goverment. Do you have a link to it...?

Holly-Crap, do we need to jump threw a shit load of hoops, but it is do-a-ble... You then no longer need to follow goverment rules. Open Carry, drive at the speed you want. Run stop signs, not that you should. But you are, I Dare Say, above the law the goverment owened people have to follow.

Almost 'Nothing" apply's to you anymore.....If you read the list, it will scare you at how much the goverment has control of our life's... Red Light, blow right threw it ( If Nothing is Comming )....cops cant site you, becouse its a goverment law that you must stop for a Red Light...

You no longer aply to them laws. Is it worth it to buy your own self and all you own, you betcha it is if the Revanew Man is knockkin on your door.

OH..........If you live in the state of In. dont sweat it if you blast the Face off the cop that kicked your door down, becouse he has the wrong address. Them laws no longer apply to you. Blast-a-Way.......

Oh, you may want to dye your face Purple, so the law knows to leave you alone, you no longer need to follow the rules of the American People. Were NOT Sheeple, were Cattle waiting for Slatter @ the Slatter Haus......?
Jun 12, 2011 at 11:37 PM | Unregistered CommenterTexas Dar
simple fix to get the money back.
charge all fed reserve board members and ceos as racketeers under rico laws. do the same with the imf , this way everything they have can be confiscated pretrial.
Jun 27, 2011 at 7:17 PM | Unregistered Commenterrxgary
I doubt that Kucinich would be saying these things without the blessings of Pelosi. He must be in trouble in his Ohio district.
Jun 29, 2011 at 9:16 PM | Unregistered CommenterDennis

Kucinich is not in trouble and he doesn't have pelosi's approval, of this i'm certain...she loves bernanke...you must not know much about what's really going on...but when you're not paying attention to these issues 14 hours per day, 6 days per week for the last 32 months as i have been, it's understandable...
Jun 29, 2011 at 9:50 PM | Registered CommenterDailyBail
really, people...you only have one real vote and that's to resist in all levels; like boycott, outreach and leadership. There's only one problem, you have to start alone, unthanked and learn to bask in ridicule.
Jul 22, 2011 at 3:37 PM | Unregistered Commenterdamn dog
I'd like to add all the privatization/outsourcing that has exponentially driven up costs. Case in point, 21st Century Privatized Wars in Iraq and Afghanistan, which frankly require us to double the reports of how many troops are in these wars because that's about how many mercenaries currently supplement our US Armed forces. And this supplementing of forces is for the sake of profit, to the point of it not being in the interest of the war businesses to even ever win any of these wars. We used to fight our wars with our own armies for honor not for profit, and I was also pitching this bitch back in the 1990's while watching the US Army bring down it's available forces to the point of now needing mercenaries to help us with our wars. You know they pitched these outsourced mercenary for hire approaches as “efficient”, and now have demonstratively skyrocketed the cost of war. Now after 10 years of fighting wars incorrectly the cost is 2 trillion, which happens to be pretty equal to the amount US deficit they are willing to admit to. I wonder if we Americans ever will be any good at that math stuff.
Jul 22, 2011 at 9:28 PM | Unregistered CommenterDavol
I hope Dennis isn't planning on flying anytime soon.
Jul 23, 2011 at 3:43 AM | Unregistered Commenterescapefromobamastan

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