Kucinich bill seeks to end the Federal Reserve

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

By Stephen C. Webster
Thursday, December 1, 2011

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.

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

2 Responses to “Kucinich bill seeks to end the Federal Reserve”

  1. Andrea B. Says:

    This has popped up on the forums.


    If there is any truth in this at all, the US is in even bigger trouble than I realised.

    • Suzan Says:

      No shit, Sherlock…
      Andrea do you think I get my jollies posting articles about the train wreck that is “End Stage Capitalism”?
      It doesn’t take a serious visionary to see the common currency without a common government as problematic. The face eating vampire squid Matt Taibbi describes aren’t peculiar to Wall Street or the US, they are a world wide cancer that has brought capitalism as we know it to the terminal stage.
      The not merely inconvenient but cold hard truth is that we have passed the point of peak oil. Everything about globalization and having 7 billion people is dependent upon oil. Climate change means we are not going to have enough food or water.
      We have hit the limits of growth, sustainability is compatible with socialism and a tightly regulated private sector, it isn’t compatible with today’s utterly corrupt and rotten to the core Capitalist Kleptocracy.
      The working people are being asked to pay for the crimes of the very rich.
      Wouldn’t it be better to just wipe out the fortunes of the very rich to pay for their crimes?

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