Federal Reserve SUBPOENAED ~ Karl Denninger

peaceandlove · 06-10-2009, 12:19 AM

Federal Reserve SUBPOENAED

Karl Denninger
Tuesday, June 9. 2009

Those arrogant pricks over at The Fed thought they could ignore a Congressional request for information on the BAC/Merrill merger.

Note that they didn't say "nuts", they apparently ignored the request.

Well, there is now a subpoena floating over toward Bernanke's office.

Here's the Bloomie article: http://www.bloomberg.com/apps/news?p...d=aRWcn.Fvrzys

Excerpt:

Quote:

June 9 (Bloomberg) -- The Federal Reserve was subpoenaed by the House Oversight Committee for e-mails and documents related to Bank of America Corp.’s purchase of Merrill Lynch & Co. after the panel was unable to obtain them through a request last week.

The committee served the subpoena today, Jenny Rosenberg, a spokeswoman for the panel, said in a telephone interview. The panel is seeking the internal Fed documents for a hearing scheduled for June 11, and Bank of America Chief Executive Officer Kenneth Lewis has agreed to testify, she said.

CNBS is reporting that The Fed has said they will "respond", which may or may not mean "comply".

We shall see.

SOURCE: http://market-ticker.denninger.net/a...UBPOENAED.html

BROOK · 06-10-2009, 12:21 AM

I hope to God...they stick it to these guys..

That is wonderful news...just hope it's not symantics

06-10-2009, 02:53 AM

I hope it's not just for show.

Anchor · 06-10-2009, 03:20 AM

The sword of truth is busy at work.

Let us all energise its action.

A..

peaceandlove · 06-10-2009, 05:01 AM

Quote:

Originally Posted by Anchor

The sword of truth is busy at work.

Let us all energise its action.

A..

This from Campaign for Liberty:

Congress Subpoenas the Fed

Posted by Anthony Gregory on 06/09/09 7:20 PM

First the central bank looks into hiring a lobbyist, and now this!

House lawmakers on Tuesday said they have subpoenaed the Federal Reserve to hand over e-mails, notes and other documents related to its role in Bank of America Corp.'s acquisition of Merrill Lynch & Co.

The lawmakers' subpoena comes after claims that top government officials pressured Bank of America Corp. CEO Ken Lewis to complete the bank's purchase of Merrill Lynch, threatening his job security. Lewis has testified that he had been advised by the officials, former Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, not to disclose details of Merrill Lynch's difficult financial position, according to New York State Attorney General Andrew Cuomo.

Apparently, even Congress is concerned about what the Fed is up to. This means our work on HR 1207 is already paying off, since it would be hard to imagine this kind of activity if it were not for fear of public opinion. A few years ago, few of us would have thought the Fed would become such a widely discussed public issue, with politicians actually willing to discuss it, let alone act on it. Now HR 1207 has 207 cosponsors and is discussed throughout the blogosphere and even in the mainstream media.

Now is not the time to back down. The Fed still needs to be meaningfully audited, not just subpoenaed on a narrow range of activities. This news also indicates that the Fed has been up to no good, even by Washington standards. Thanks to everyone out there for supporting the efforts to shine a light on the Federal Reserve, and keep it up!

SOURCE with LINKS and COMMENTS: http://www.campaignforliberty.com/blog.php?view=19676

Ben Bernanke on CBS 60 Minutes June 7, 2009

Posted by Marc Tancer on 06/09/09 4:37 PM

Tonight on 60 Minutes, a weekly news show on CBS, Ben Bernanke was interviewed about his life in general, and about what is happening in the economy now and what the Federal Reserve is doing. He didn't really discuss anything substantive about the Fed's actions. He also claimed that the Fed is becomming more transparent; he says that they now publish the minutes of their meetings 3 weeks afterwards. Of course there isn't any REAL transparency if we don't know to whom (banks, corporations, other elitists) their newly issued money and credit is going.

To address a couple of things that he said...

Article continues: http://www.campaignforliberty.com/blog.php?view=19566

Lorien · 06-10-2009, 03:03 PM

Woo Hoo!! Hopefully this momentum keeps going and they discover all the nasty things the Fed has been doing for decades and tears the whole thing apart. Lets all focus on a positive outcome to this situation and visualize a future that is Fed Free!

peaceandlove · 06-10-2009, 06:22 PM

Fed Would Be Shut Down If It Were Audited, Expert Says

Posted by Matt Hawes on 06/10/09 11:24 AM

CNBC has a great new piece today stating that an audit of the Federal Reserve would reveal a balance sheet so out of control the Fed would have to close its doors.

With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.

"If the Fed examiners were set upon the Fed's own documents-unlabeled documents-to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized."

Read the rest and watch their interview with Jim Grant. http://www.cnbc.com/id/31204170

Thanks to MRoCkEd.

SOURCE: http://www.campaignforliberty.com/bl...cpg=1#comments

peaceandlove · 06-13-2009, 07:39 PM

Karl Denninger Commentary Wednesday, June 10. 2009

The Fed: Bankrupt

Quote:

Key quote from this interview (must-see!): He is referencing the above article at Post #7 Fed Would Be Shut Down If It Were Audited, Expert Says

"If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized."

This guy is not a "nobody" either - he's a major force in the bond market, editor of a very well-recognized publication since 1983. Ignore him at your peril.

Karl has posted the same Jim Grant video referenced in Post #7

Yeah, I know, The Fed issued some new disclosure today. It of course shows them "well-capitalized". So did Bear Stearns' financials, so did Lehman. All were dependent on ratings issued by.... who again? And the models are provided by who again? Not the same folks who were so dramatically wrong about virtually every credit class over the last two years, right?

Uh, yeah.

SOURCE: http://market-ticker.denninger.net/a...-Bankrupt.html

Luminari · 06-14-2009, 12:06 AM

Yes, I just woke up to this in my inbox. Sheds even more light on whats happening with a Vatican VS Rothschild element too:

Subject: Obama and Federal Reserve - Russian opinion

Russian Foreign Ministry sources are reporting in the Kremlin today that US President Barak Obama has informed Prime Minister Putin and Chinese President Hu of his intentions to “totally takedown” the private banking system known as the US Federal Reserve that since its dubious creation in 1913 has had complete control over the printing of all US money in what many detractors have long stated was in violation of the American Constitution.

Virtually unknown to the American people about the Federal Reserve Bank is that it is comprised of 12 branches that are private corporations whose ownership is shrouded in secrecy and is the largest holder of United States debt said to be in excess of over $4 Trillion.

Fueling Obama’s growing anger over the Federal Reserve Bank, these reports continue, has been their arrogant refusal to reply to the many questions being asked of them by the United States Congress over what has happened to over $8 Trillion of US taxpayer money, and which caused US Lawmakers to take the unprecedented step of issuing a subpoena yesterday to force the Federal Reserve to turn over internal documents related to Bank of America's acquisition of Merrill Lynch.

The Federal Reserve Bank, in a desperate bid to hold on to its power over the Untied States, has hired one of Washington D.C.’s top lobbyists, Linda Robertson, who curiously, headed the Washington lobbying office of Enron Corporation which became one of the largest corporate bankruptcies in US history after they cheated investors out of a staggering $11 billion.

More ominously though, with Obama’s plan to destroy the Federal Reserve Bank he becomes only the second US President to attempt to break this insidious creatures stranglehold over the United States after President John F. Kennedy, on June 4, 1963, signed Executive Order No. 11110 to strip the Federal Reserve Bank of its power to loan money to the government at interest.

On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the US government the power to issue currency, without going through the Federal Reserve. Kennedy's order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars [photo 3rd on left] in the Treasury.” This meant that for every ounce of silver in the US Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in US notes into circulation.

Five short months later, President Kennedy was assassinated, and upon assuming office, newly sworn in President Lyndon Johnson recalled all of the US notes Kennedy had put into circulation and making President Ronald Reagan the next to challenge the power of the Federal Reserve, but which abruptly ended with his near assassination on March 30, 1981 by the hand of the crazed son of former CIA Director, and then Vice President, George Bush’s closest friends and oil business backer John Hinckley Sr.

President Reagan had pitted himself against the Federal Reserve over their refusal to lower the crushing interests rates they had imposed upon the American people during the US recession of 1980-1982 which was their greatest since the Great Depression, but after his near death quietly signed into law on September 13, 1982, H.R.6128 which became Public Law No: 97-258 that was written on the behalf of the Federal Reserve by little known US Congressman Peter Wallace Rodino Jr., with no co-sponsors, and made it illegal for any future American President to print on money for the American people.

But, according to Russian legal experts, even though Public Law No: 97-258 does appear on its surface to constrain President Obama; President Kennedy’s Executive Order No. 11110 has never been repealed by any American President making a showdown “inevitable” between Obama and the Federal Reserve before the US Supreme Court, and which Obama has recently nominated US Federal Judge Sonia Sotomayor to America’s highest court where she will become the 6th Roman Catholic Justice and giving the Vatican near total control of US monetary policy.

And, in this epic battle between the Vatican backed Obama and the Rothschild backed Federal Reserve, we can plainly see that the 1849 secret agreements between these two monstrous powers that have enslaved the West is nearing its catastrophic end, and with no clear winner to be seen but an entire World being destroyed in its titanic aftermath.

In what Israeli Prime Minister Benjamin Netanyahu considered a “threat”, the US stated to Israel this week that “We are going to change the world. Please, don't interfere.”, the American people have not even been told.

This cannot be said of Putin, however, who immediately upon learning of Obama’s “battle to the death” with the Federal Reserve joined China and Brazil and ordered Russia’s Central Bank to begin divesting itself of US Federal Reserve holdings and replace them with International Monetary Fund bonds as the United States is about to be crushed with what London’s Fleet Street News is calling “The Triple Crown of Financial Catastrophes” which can very well see the complete destruction of America.

And, most sadly of all, the American people themselves continue to remain the only people in the World not knowing about what is soon to happen to them. One indeed wonders what it will take for them to ever wake up from their long sleep.

peaceandlove · 06-14-2009, 12:13 AM

Blessings Luminari,

Do you have a source for that article?

Thanks,

PaL

Luminari · 06-14-2009, 12:50 AM

Quote:

Originally Posted by peaceandlove

Blessings Luminari,

Do you have a source for that article?

Thanks,

PaL

I took a chunk of the text and did a google search with it... wow that article is everywhere today.

It seems it is from Sorcha Faal.

peaceandlove · 06-14-2009, 01:25 AM

Thanks,

This is the first I've ever heard of Obama supporting getting rid of The Fed.

So why then are there not more Democrats co-sponsoring the HR1207 Transparency of the Fed bill?

Hmmmmmmmmm?????? Sorcha Faal

NOW 224 including Dennis Kucinich #218

GOOGLE MAP OF CO-SPONSORS DEMOCRAT AND REPUBLICAN: http://maps.google.com/maps/ms?ie=UT...186.328125&z=3

CURRENT LIST OF CO-SPONSORS: http://thomas.loc.gov/cgi-bin/bdquer...1:HR01207:@@@P

06-10-2009, 02:53 AM	#3
sleepingnomore Guest Posts: n/a	Re: Federal Reserve SUBPOENAED ~ Karl Denninger I hope it's not just for show.

06-10-2009, 03:20 AM	#4
Anchor Avalon Senior Member Join Date: Sep 2008 Location: Sydney, NSW, Australia Posts: 2,280	Re: Federal Reserve SUBPOENAED ~ Karl Denninger The sword of truth is busy at work. Let us all energise its action. A..

06-10-2009, 03:03 PM	#6
Lorien Avalon Senior Member Join Date: Feb 2009 Location: Beyond the rim.... Posts: 412	Re: Federal Reserve SUBPOENAED ~ Karl Denninger Woo Hoo!! Hopefully this momentum keeps going and they discover all the nasty things the Fed has been doing for decades and tears the whole thing apart. Lets all focus on a positive outcome to this situation and visualize a future that is Fed Free!

06-14-2009, 12:06 AM	#9
Luminari Avalon Senior Member Join Date: Sep 2008 Location: Australia Posts: 2,570	Re: Federal Reserve SUBPOENAED ~ Karl Denninger Yes, I just woke up to this in my inbox. Sheds even more light on whats happening with a Vatican VS Rothschild element too: Subject: Obama and Federal Reserve - Russian opinion Russian Foreign Ministry sources are reporting in the Kremlin today that US President Barak Obama has informed Prime Minister Putin and Chinese President Hu of his intentions to “totally takedown” the private banking system known as the US Federal Reserve that since its dubious creation in 1913 has had complete control over the printing of all US money in what many detractors have long stated was in violation of the American Constitution. Virtually unknown to the American people about the Federal Reserve Bank is that it is comprised of 12 branches that are private corporations whose ownership is shrouded in secrecy and is the largest holder of United States debt said to be in excess of over $4 Trillion. Fueling Obama’s growing anger over the Federal Reserve Bank, these reports continue, has been their arrogant refusal to reply to the many questions being asked of them by the United States Congress over what has happened to over $8 Trillion of US taxpayer money, and which caused US Lawmakers to take the unprecedented step of issuing a subpoena yesterday to force the Federal Reserve to turn over internal documents related to Bank of America's acquisition of Merrill Lynch. The Federal Reserve Bank, in a desperate bid to hold on to its power over the Untied States, has hired one of Washington D.C.’s top lobbyists, Linda Robertson, who curiously, headed the Washington lobbying office of Enron Corporation which became one of the largest corporate bankruptcies in US history after they cheated investors out of a staggering $11 billion. More ominously though, with Obama’s plan to destroy the Federal Reserve Bank he becomes only the second US President to attempt to break this insidious creatures stranglehold over the United States after President John F. Kennedy, on June 4, 1963, signed Executive Order No. 11110 to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the US government the power to issue currency, without going through the Federal Reserve. Kennedy's order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars [photo 3rd on left] in the Treasury.” This meant that for every ounce of silver in the US Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in US notes into circulation. Five short months later, President Kennedy was assassinated, and upon assuming office, newly sworn in President Lyndon Johnson recalled all of the US notes Kennedy had put into circulation and making President Ronald Reagan the next to challenge the power of the Federal Reserve, but which abruptly ended with his near assassination on March 30, 1981 by the hand of the crazed son of former CIA Director, and then Vice President, George Bush’s closest friends and oil business backer John Hinckley Sr. President Reagan had pitted himself against the Federal Reserve over their refusal to lower the crushing interests rates they had imposed upon the American people during the US recession of 1980-1982 which was their greatest since the Great Depression, but after his near death quietly signed into law on September 13, 1982, H.R.6128 which became Public Law No: 97-258 that was written on the behalf of the Federal Reserve by little known US Congressman Peter Wallace Rodino Jr., with no co-sponsors, and made it illegal for any future American President to print on money for the American people. But, according to Russian legal experts, even though Public Law No: 97-258 does appear on its surface to constrain President Obama; President Kennedy’s Executive Order No. 11110 has never been repealed by any American President making a showdown “inevitable” between Obama and the Federal Reserve before the US Supreme Court, and which Obama has recently nominated US Federal Judge Sonia Sotomayor to America’s highest court where she will become the 6th Roman Catholic Justice and giving the Vatican near total control of US monetary policy. And, in this epic battle between the Vatican backed Obama and the Rothschild backed Federal Reserve, we can plainly see that the 1849 secret agreements between these two monstrous powers that have enslaved the West is nearing its catastrophic end, and with no clear winner to be seen but an entire World being destroyed in its titanic aftermath. In what Israeli Prime Minister Benjamin Netanyahu considered a “threat”, the US stated to Israel this week that “We are going to change the world. Please, don't interfere.”, the American people have not even been told. This cannot be said of Putin, however, who immediately upon learning of Obama’s “battle to the death” with the Federal Reserve joined China and Brazil and ordered Russia’s Central Bank to begin divesting itself of US Federal Reserve holdings and replace them with International Monetary Fund bonds as the United States is about to be crushed with what London’s Fleet Street News is calling “The Triple Crown of Financial Catastrophes” which can very well see the complete destruction of America. And, most sadly of all, the American people themselves continue to remain the only people in the World not knowing about what is soon to happen to them. One indeed wonders what it will take for them to ever wake up from their long sleep.

06-14-2009, 12:13 AM	#10
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: Federal Reserve SUBPOENAED ~ Karl Denninger Blessings Luminari, Do you have a source for that article? Thanks, PaL Last edited by peaceandlove; 06-14-2009 at 12:15 AM.

06-10-2009, 12:21 AM	#2
BROOK Avalon Senior Member Join Date: Oct 2008 Posts: 3,117	Re: Federal Reserve SUBPOENAED ~ Karl Denninger *I hope to God...they stick it to these guys..* *That is wonderful news...just hope it's not symantics*

06-10-2009, 06:22 PM	#7
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	"Fed Would Be Shut Down If It Were Audited..." Fed Would Be Shut Down If It Were Audited, Expert Says Posted by Matt Hawes on 06/10/09 11:24 AM CNBC has a great new piece today stating that an audit of the Federal Reserve would reveal a balance sheet so out of control the Fed would have to close its doors. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview. "If the Fed examiners were set upon the Fed's own documents-unlabeled documents-to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized." Read the rest and watch their interview with Jim Grant. http://www.cnbc.com/id/31204170 Thanks to MRoCkEd. SOURCE: http://www.campaignforliberty.com/bl...cpg=1#comments

06-14-2009, 01:25 AM	#12
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: Federal Reserve SUBPOENAED ~ Karl Denninger Thanks, This is the first I've ever heard of Obama supporting getting rid of The Fed. So why then are there not more Democrats co-sponsoring the HR1207 Transparency of the Fed bill? Hmmmmmmmmm?????? Sorcha Faal NOW 224 including Dennis Kucinich #218 GOOGLE MAP OF CO-SPONSORS DEMOCRAT AND REPUBLICAN: http://maps.google.com/maps/ms?ie=UT...186.328125&z=3 CURRENT LIST OF CO-SPONSORS: http://thomas.loc.gov/cgi-bin/bdquer...1:HR01207:@@@P