World-News

Senate Blocks Bill To Audit The Fed As Government Prepares For Second Round Of Looting

Senator Jim DeMint slams Fed's monopoly, questions where trillions in bailout funds has gone

Paul Joseph Watson
Prison Planet.com
Tuesday, July 7, 2009

A Senate amendment based on Congressman Ron Paul’s successful House bill to audit the Federal Reserve was blocked by the Senate yesterday evening on procedural grounds, as Jim DeMint slammed the Fed for refusing to disclose where trillions in bailout funds had gone, while a top Obama administration advisor called for a second “stimulus” package to be prepared.

http://www.prisonplanet.com/senate-blocks-bill-to-audit-the-fed-as-government-prepares-for-second-round-of-looting.html

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Michael Perelman, on Market Myths, Past and Present

Seth Sandronsky, Truthout: "Michael Perelman: 'First of all, when the economy slows down, tax revenues decline for federal, state and local governments. Second, government expenditures increase because people who experience sudden drops in income need to rely more on the social safety net. Third, the federal government stimulus has been largely directed toward the financial sector. Unlike the New Deal, when the government put people to work producing valuable projects that people can readily appreciate while walking around cities today, this stimulus is largely directed toward prettying up corporate balance sheets.'"

http://www.truthout.org/070709E?n



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