The first ever GAO (Government Accountability Office) audit of the Federal Reserve since its inception in 1913 was carried out and released on July 21st, 2011 thanks to the Ron Paul – Alan Grayson Amendment to the Dodd – Frank bill passed in 2010. Senators Jim DeMint (R-SC) and Bernie Sanders (I-VT) sponsored the amendment in the Senate where the scope and extent of the audit in the house bill (HR1207) was diminished so that a complete audit was not accomplished. Ben Bernanke (pictured to the right), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets.
What was revealed in the audit was startling:
$16,000,000,000,000.00 had been secretly doled out to failing or at risk U.S. banks and corporations and foreign banks in the period between December 2007 and June 2010 at 0% interest. Virtually none of the money embezzled from the American public has been repaid. These unelected unaccountable bureaucrats diverted these funds exceeding the national debt while Americans were struggling to find jobs.
Putting $16 trillion into perspective, the GDP of the United States is $14.12 trillion. Spanning its 200+ year history, the United States government only within the last few years just recently amassed a $14.5 trillion national debt. By presuming to pass this incomprehensible debt on to our children, the politicians and bureaucrats have violated the intention of the Constitution as clearly expressed in the Preamble. No rational person can suggest that passing such a burden on to others in any way “secure[s] the blessing of liberty to ourselves and our posterity”. Even the similarly unconstitutional unbalanced budget repeatedly debated beyond Constitutional bounds in Congress is but a fraction at $3.5 trillion. Yet, this de facto central or national bank which the Framers opposed and rejected was created by Congress in 1913 without any oversight or accountability. Moreover, it was again a failed Congress that passed the TARP bailout bill in late 2008 giving an additional $800 billion to many of these same failing banks and companies.
When a self proclaimed Democratic socialist like Bernie Sanders states “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.” , the “domestic enemies” in our midst are exposed and Congress is without excuse!. It is a transgression of the original intention of the Constitution that cannot and must not be ignored. All elected officials failing in their oath of office must be removed. Unelected bankers and bureaucrats creating money out of thin air by rolling the printing presses with government executive sanction plundering working Americans without justice obtaining are no better than King George or the British Parliament in 1776. We are in a new civil war fighting “enemies, foreign and domestic” so “that this Nation under God shall have a new birth of freedom, and that government of the people by the people for the people shall not perish from the earth”.
The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many more U.S. and foreign banks
View the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation
We Need a Leader Rather Than a Politician
George Washington is one of the most significant men in all of history. Regarding the direct advancement of civil and political liberty in the earth, he may well be the most significant champion in all history. Certainly he was the central figure of bringing a new era of liberty to the world in modern times.1 Abraham Lincoln observed: “Washington is the mightiest name of earth – long since mightiest in the cause of civil liberty, still mightiest in moral reformation. On that name no eulogy is expected. It cannot be. To add brightness to the sun or glory to the name of Washington is alike impossible. Let none attempt it.”2
There would be no America, the land of liberty, without Washington, the apostle of liberty. The unique freedom, justice, and virtue incorporated into the American Republic have in the last two centuries spread throughout the world and taken root in many nations. Hence, Washington’s legacy has impacted the world, and will continue to do so for centuries to come.
His greatness did not stem from oratorical skills or superior knowledge or brilliant military tactics, but rather from his strong virtues, sense of duty, and invincible resolution. When he was offered leadership of the army and leadership of the nation, he expressed doubts in his abilities to accomplish these tasks, but once he occupied those positions, nothing could stop him from performing his duty. By sheer force of character he held the disorganized nation together during the great struggle for independence, and after victory was won, the love of the people for him provided the unifying factor necessary to set a course for the American constitutional republic.
The providence of God and Washington’s Christian faith were key to his character, career, and accomplishments. His faith, heart, and humility are revealed in the “Circular to the Governors of the states” in 1783 when he prayed that God would protect them and “most graciously be pleased to dispose us all to do justice, to love mercy, and to demean ourselves with that charity, humility, and pacific temper of mind, which were the characteristics of the Divine Author of our blessed religion, and without an humble imitation of whose example in these things, we can never hope to be a happy nation.”10 In his famous “Oration on the Death of General Washington,” Gen. Henry Lee said that Washington was “first in war, first in peace, and first in the hearts of his countrymen. Vice shuddered in his presence, and virtue always felt his fostering hand; the purity of his private character gave effulgence to his public virtues.” Washington was first because, as Lee said, he was “the man designed by Heaven to lead in the great political, as well as military, events which have distinguished the area of his life. The finger of an overruling Providence pointing at Washington was neither mistaken nor unobserved.”11
Washington himself had a sense of how God used him providentially to advance the cause of liberty to mankind as well as an understanding of the providential purpose of America, writing in March 1785: “At best I have only been an instrument in the hands of Providence, to effect, with the aid of France and many virtuous fellow Citizens of America, a revolution which is interesting to the general liberties of mankind, and to the emancipation of a country which may afford an Asylum, if we are wise enough to pursue the paths [which] lead to virtue and happiness, to the oppressed and needy of the Earth.”12
America set in motion a new example of religious, civil, and economic liberty that the nations have attempted to embrace during the last two centuries. The advancement of liberty in the world is directly related to the establishment of liberty in America, which owes its beginnings in large part to George Washington. Paine’s epithet of “World’s Apostle of Liberty” is, therefore, most fitting. Americans and citizens of the world who value liberty must forever keep alive in their hearts this great man and seek to follow his example.
The article above is taken from Apostle of Liberty: The World-Changing Leadership of George Washington, Stephen McDowell. This book can be ordered from the Providence Foundation, www.providencefoundation.com or 434-978-4535.
1. Lucretia Perry Osborn, Washington Speaks for Himself (New York: Charles Scribner’s Sons, 1927), xi.
2. Abraham Lincoln, Washington Temperance Society speech, Springfield, Illinois, February 22, 1842
3. Works of Fisher Ames, as published by Seth Ames (1854), edited and enlarged by W.B. Allen, vol.1 (Indianapolis: Liberty Classics, 1983), 527.
4. William Wilbur, The Making of George Washington (DeLand, Florida: Patriotic Education, 1973).
5. “George Washington: Deist? Freemason? Christian?” by James Renwick Manship, in Providential Perspective, Vol. 15, No. 1, Feb. 2000, Charlottesville: Providence Foundation.
6. Jedidiah Morse, “A Prayer and Sermon, Delivered at Charlestown, December 31, 1799, On the Death of George Washington . . . With an Additional Sketch of His Life” (London: Printed by J. Bateson, 1800).
7. Recollections and Private Memoirs of the Life and Character of Washington by George Washington Parke Custis, Benson J. Lossing, editor, (Philadelphia: Englewood, 1859), 322.
8. Osborn, p. iv. A facsimile of the peroration of President Coolidge’s Address to the Sixty-ninth Congress, Second Session, on Washington’s Birthday, February 22, 1927.
9. Letter of Dr. Letsom of London to a friend in Boston, in E. C. M’Guire, The Religious Opinions and Character of Washington (New York: Harper & Brothers, 1836), 326.
10. Circular to the States, June 8, 1783, The Writings of George Washington from the Original Manuscript Sources, 1745-1799, John C. Fitzpatrick, Editor (Washington: United States Government Printing Office, 1931), 26:496.
11. “Oration on the Death of General Washington, Pronounced before Both Houses of Congress, on December 16, 1799” by Major-General Henry Lee, in Custis, 622, 618-619.
12. Letter to Lucretia Wilhemina Van Winter, March 30, 1785, The Writings of George Washington, 28:120.
IN SICKENING CONTRAST!!!
Buffett’s Bank of America
BY: Patrick Howley – February 10, 2012
Warren Buffett’s stake in Bank of America Corp. increased in value by $154 million after President Obama and the U.S. Justice Department announced a $25 billion foreclosure abuse settlement with the five largest U.S. banks Thursday, records show.
Buffett invested $5 billion in Bank of America (BofA) on Aug. 25, 2011. As part of his investment deal, Buffett gained warrants that allow him to buy 700 million shares of Bank of America stock at a strike price of $7.14 a share. However, on Dec. 19, 2011, it was reported that Buffett was $1.5 billion underwater on his stock warrants, with shares of BofA stock trading at $4.94. But on Thursday, after President Obama personally announced the details of the settlement, BofA stock closed at $8.13 a share. The stock opened Friday morning at $8.31 and reached as high as $8.35 a share.
If Buffett had exercised his warrants Friday morning, he would have made $847 million. $154 million of that profit would have been related to the foreclosure deal.
This is not the first time Buffett has profited from Obama administration policies. In November 2011, it was reported that President Obama’s two-year postponement of the deadline to determine the future of the proposed Keystone XL pipeline would force North Dakota oil producers to rely more heavily on the Burlington Northern Santa Fe Railroad. Buffett’s Berkshire Hathaway Inc. holding company purchased the Burlington Northern Santa Fe Railroad Corp. in a total package worth $44 billion in 2009.
Buffett has personally contributed $5,000 to Obama this election cycle, while Berkshire Hathaway has contributed $30,800 to the Democratic National Committee.
This summer, Obama will accept the Democratic Party’s 2012 presidential nomination with a speech at Bank of America Stadium in Charlotte, N.C.