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It will become much easier for our representatives to claim they still support Audit the Fed on the House floor if the Watt version passes, when, in reality, Representative Watt’s amendment puts restrictions on Government Accountability Office audits of the Fed.

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In a letter to the House Financial Services Committee earlier this month, all eight wrote that they support the type of amendment now being introduced by Rep. Mel Watt (D-N.C.). Watt’s approach purports to increase Fed transparency while it actually would tighten restrictions on any audits that could go forward.

The letter was sent around Wednesday by Watt’s staff to members of the committee in advance of a vote scheduled for Thursday.

Watt’s measure is in competition with an amendment cosponsored by Reps. Ron Paul (R-Texas) and Alan Grayson (D-Fla.), which would repeal the restrictions that Watt leaves in place.

But far from a broad cross-section, the “prominent economists” lobbying on behalf of the Watt bill are in fact deeply involved with the Federal Reserve. Seven of the eight are either currently on the Fed’s payroll or have been in the past.

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In fact, of $609,072 given to Watt, $217,109 – or 35.6 percent – came from the money sector, including over $187,000 – or nearly 31 percent of his total contributions – from political action committees within the finance , insurance and real estate industry. The next highest industry supporting Watt was labor, which contributed only 14 percent of his total war chest.

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It’s time you and I put a stop to a renegade Federal Reserve by exposing the Fed’s out of control actions to the American people. And Congressman Ron Paul and Senator Jim DeMint have a bill before Congress to do just that, known as the “Audit the Fed” Bill (HR 1207 and S 604).

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Equally interesting, no one seemed to be able to say what the company would be doing at the jail or, where it would get prisoners to fill it. All of which was enough to prod the Montana attorney general to begin looking into the deal.

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Most Americans, if they know anything at all about the Federal Reserve, believe it is an agency of the United States Government. This article charts the true nature of the “National Bank.”

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You would think with all these millionaires walking around the company, there would be at least a passing acknowledgement of the wealth generation potential of a free economy. Not a chance. CEO Jamie Dimon sneers at free market advocates. The firm funds a variety of anti-business activists, ACORN being just the most dramatic example.

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It is not hard to see the motivation for oil exporters to move away from the dollar. The value of the US currency has fallen sharply since last year’s meltdown. And fears are growing, in the light of a spiraling US government deficit, that a further depreciation is likely. They do not want to sell their wares in return for a currency with an uncertain future.

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In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

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The fact is we live in a world that, in a financial sense, doesn’t exist in the sense that nothing we touch, see or smell has been paid for. Our minds have been programmed to believe that dollars are actually money, but you know what? The dollars in your wallet were printed out of thin air from nothing more than paper and ink at the office of a cartel of twelve privately owned, mostly by foreigners – mostly British, banks called THE FEDERAL RESERVE “SYSTEM”. So in a very real sense the economy we all ‘perceive’ around us is nothing more than a real life MATRIX just like in the movie, complete with IRS Agents in dark suits with sunglasses and guns. In a financial sense NOTHING EXISTS outside of our minds. As long as our minds believe that a dollar is worth 100 cents than The Matrix will operate. But The MATRIX is unsustainable due to the forces of “Natural Law” that are in control of the entire Universe including our economy.

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