After 3weeks of expert procrastination, I've finally decided to do my persuasive speech on auditing the Federal Reserve. The main reason was that I already have a research paper from last semester about it, but also because people seem to be so uninformed. This morning, while conducting some up-to-date research (a surprising amount of things change in just 5 months) I found an article explaining what was discovered when the newspaper won out in the Bloomberg vs Federal Reserve lawsuit last year. Basically, the Fed bailed out foreign banks in Libya. And now we've invaded Libya. Interesting turn of events. Also interesting how history repeats itself.
The Fed posted a defense on their blog, Liberty Street (there's a link on the site I'm linking to this post) and most of it was technical garble. But the basic idea I got out of it was that they bailed out Libya because otherwise other world currencies such as the Euro would crash. Ok guys, nice job prolonging the inevitable I guess. It just makes it so much clearer that the American dollar truly is the "blood donor" in every case where a country's currency fails, and then a war comes along. The English pound would have been long gone after the World Wars if it weren't for the Fed.
Sorry for going political, but this is too important not to post about. Read about the new bill for auditing the Fed, known as the Federal Reserve Transparency Act - it takes less than 5 minutes to read - Audit the Fed!
Also, this is the link for the article I'm referring to that covers the bailout: The Centerlane he cites everything.
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