Tuesday, July 7, 2009
The key phrase above is "for their cash" which rightfully denotes that the money belongs to them not to the government. Yet the government in this case is going to use private money to fix its problems. But in reality this is exactly what governments due on a consistent basis, they cause a problem then they use the taxpayer money to attempt to fix a problem that would not have existed in the first place had the government left things alone.
Government in the long run amounts to highway robbery and those in the right positions benefit from those whose industry they rely upon to support themselves
On procedural grounds, the Senate blocked a bid to permit the U.S. comptroller general, who heads the investigative arm of Congress known as the Government Accountability Office, to audit the Federal Reserve system and issue a report... Democrats who control the Senate blocked the South Carolina Republican's amendment on the grounds that it violated rules prohibiting legislation attached to spending bills." [link]
It's funny (not really) how both sides only use the rules and laws when it benefits them at that time. It also frustrates me that Congress "gave away" its Constitutional authority to coin the money, yet then has no form of oversight or monitoring in place, and for the most part does not seem to care.
Private banks must be audited per government regulations, but I keep forgetting the government bank does not have to follow the rules that everyone else does somehow they are "above the law".