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The Federal Reserve Bank

Claude Morton
Column Editor

The Federal Reserve has an internal oversight system riddled with collusion, coercion, and lies.



Internal Conflicts of Interest Ignored

Jamie Dimon

James "Jamie" Dimon, born March 13, 1956, is an American business executive. He is the current chairman, president and chief executive of JPMorgan Chase, and previously served as a Class A director of the Board of Directors of the New York Federal Reserve, a three year term which started January 2007. | Jamie Dimon, Jpmorgan Chase, Bank,

Internal Conflicts of Interest Ignored

Claude Morton
Column Editor

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[Comments] "Our" Federal Reserve Bank is a network of bankers / pure academia economists / analysts / and policy makers. They, with their collective "wisdom", believe they can control our domestic markets (all of them) and most global markets. Our Federal Reserve, created in 1913 by the Money Trust of the day including some of the same players found in our modern-day Money Trust; the system was ultimately designed by them to benefit big banks, and allow government to expand spending (indiscriminately), while over-leveraging the public treasure.

An ancillary short-term benefit of Fractional Reserve Banking is one can obtain debt (known to you as "credit"), without having the means necessarily to cover such debt. The system counts on you attaching your self-worth and personal responsibility to your "credit score" and financial solvency, and most people who take out debts repay them, often at great costs as usury laws have long been stripped off the books by this transnational money trust.

The Federal Reserve holds the ultimate power over our Congress and Wall Street. The Fed is the head master, proven so by their opaqueness, and that they have no public oversight, nor are approachable through democratic measures, leaving them untouchable, and largely unaccountable to the American taxpayer who is hit hardest by this fractional reserve banking scheme.

Such power demands ultimate respect, and the Federal Reserve gets it. Dare to trespass on their "private" property, and you will actually feel that respect given to this cartel of transnational thieves, in a confrontation by the private police forces employed by the Federal Reserve Banks all across the nation.

I call these bankers, economists, and analysts inside the Fed thieves because they steal, they steal the worth out of your dollar through various mechanisms (e.g. Accommodating Congress by lending them money when the Treasury is out of money). This only deteriorates the worth of our dollar, by the time it trickles down to your pockets negatively impacting your real purchasing power, and overtime has destroyed American prosperity.

I bring this all up because the Federal Reserve with such power and no oversight have an internal oversight system riddled with collusion, coercion, and lies. Bill Bergman, former economist within the Federal Reserve system and Carmen Segarra, a senior bank examiner at the largest and most influential of all the Federal Reserve branches, the New York Federal Reserve, have come out in explosive accusations against the Federal Reserve bank, and our central banking system.

Bill Bergman, fired by the Federal Reserve once he started raising some very provocative questions about internal operations, did an interview (http://www.economicpolicyjournal.com/2012/07/find-out-what-happened-when-federal_15.html) with Robert Wenzel, and while I don't agree with everything being said, there are some real bits of amazing insights into the tremendous conflicts of interests within the Federal Reserve compliance divisions.

Carmen Segarra has taken the Federal Reserve Bank of New York to court recently, in the case (Segarra v Federal Reserve Bank of New York, 13-cv-07173, U.S. District Court, Southern District of New York [Manhattan]), because she believes the Federal Reserve fired her when she found Goldman Sachs still lacked any credible conflict-of-interests policies and wouldn't revise her findings as commanded to do so by her superiors at the Federal Reserve.

You'll remember, perhaps you don't, but Goldman Sachs during the lead up to the Great Depression of 2008 was selling investment offerings (falsely cloaked as AAA rated offerings) while betting in secret, that those offering would not pay out. Creating a conflict of interest that led to Goldman Sachs treating their clients like a "bunch of muppets" and financially seizing upon them through fraud and opaque financial offerings, costing individual investors, cities, towns, and hedge fund managers billions of dollars.

Which brings us back to Bill Bergman, who exposed that one of his internal investigations after 9/11 to examine which companies and investors placed puts (bets that the stock would fall) on the major airlines in the months leading up to 9/11 was halted internally by higher-ups inside the Federal Reserve. The data from that investigation was also destroyed, leaving one to wonder its significance.

Hopefully more people within this corrupted system will be brave enough to risk their personal wealth and expose a system that impacts every single life in America, as Bill Bergman and Carmen Segarra have done.

Hope is never enough, so I urge you to contact your representatives immediately and ask them to support H.R. 33: Audit The Fed Act of 2013 (http://www.govtrack.us/congress/bills/113/hr33), which has been stuck in committee stagnation since January 03, 2013.


Claude Morton

Claude Morton, Column Editor: Claude Morton is an independent contributor, who mostly writes articles on politics, Veganism, philosophy, or local events. Claude has contributed to a variety of print and online outlets including Yahoo!, MovieMaker Magazine, and the Ann Arbor News. From Claude; I’m in the 1%, no, not that 1%. I’m a vegan, indie filmmaker, libertarian socialist, and a pacifist. I champion freedom as much as equality, and love discussing solutions about our country’s biggest dilemmas. ... (more...)