Wednesday, October 7, 2009

Federal Reserve - The People's Gov't and Associates at Work

(Analyst's note: Just received an interesting, absolutely must read e-mail from a friend in Maryland and one of the responses of which he speaks.)

Last week I sent a question to Senator Mikulski, asking what happened to 2,000,000,000 dollars that apparently has gone missing from the Federal Reserve. And other question like who has the oversight, who monitors it, with what regularity, where can citizens go to see and read about the results, etc.

In return two days ago I received a stupid response telling me about the clean water act and how that was going. I have/had no interested in my question to the clean water act and it was the response from one of her staff, thinking that they were being funny.

So I answered the clean water response with a - OK let's see how funny I can be. I told them that I personally know several people who write for the Annapolis Newspaper and the Maryland Gazette. I explained that I have received several responses to my serious questions, with no related answers - and that I thought they were intentional ridicules of a Maryland Citizen. I have them all here on my computer and thought I would send them to the Newspapers, FOX and my entire distribution list on my Internet account. I told them that I will personally call the Senator and request a meeting and I will send that email into her "EYES ONLY" And I promise to get together the largest group in the state of Maryland to see that she and her staff are not around after 2010 to ridicule Maryland Citizens.

Thus far today, I have received two answers to previously asked questions giving me much better, although incomplete, answers to my emails to the Senator. I want to know where the missing 2 trillion dollars from the Federal Reserve is? Who spent it, By what Authority, where did it go, and who signed the authority document? It is taxpayers money and we are entitled to know that. Please write to your representatives and ask them where it went - it was our money. Did we send it to Iran to help them build the bomb faster, Did we send it to Palestine to help the needy there???? Like the man said, "Show me My Money!)"


My Friend's Name
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Email
Dear Mr. ______:

Thank you for getting in touch with me about the Federal Reserve.  It's great to hear from you.

I appreciate hearing your views and I understand your concerns.  Congress created the Fed in 1913 to serve as the central bank and set monetary policy for the United States.  It has two equally critical goals: to promote full employment and contain inflation.  Pursuing these goals requires the Federal Reserve be insulated against political pressures so that it can make decisions in the long term best interests of the economy.  At the same time, the Fed must be accountable for its actions.  This is especially true now after the Fed has taken such dramatic and unprecedented steps to head off the collapse of the financial system and the economy.

I supported amendments to the Congressional Budget Resolution (S. Con. Res. 13) and the Helping Families Save Their Homes Act (Public Law 111-22) that would have increased transparency at the Federal Reserve and required additional information about the Fed's use of monetary policy in response to the credit crisis.  But these amendments ultimately did not become law.

The Government Accountability Office currently audits the Fed, but it is prohibited from examining the agency's monetary policy actions.  The Federal Reserve Sunshine Act (S. 604) would provide additional authority to audit the entire Federal Reserve System by 2010 and report to Congress.

S. 604 is currently pending in the Senate Banking Committee.  Knowing of your views is helpful to me, and I will keep them in mind should this legislation come before the full Senate.

Again, thanks for contacting me.  Please let me know if I can be of assistance to you in the future.

Sincerely,
Barbara A. Mikulski
United States Senator


Please do not respond directly to this e-mail. The originating e-mail account is not monitored.
If you would like to get in touch with me again, please visit my Webform at http://mikulski.senate.gov/Contact/contact.cfm
 

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