House Financial Services Committee Chairman Barney Frank has proposed a new bill that would make the Federal Reserve a "super cop" that would have complete control of the financial system -- that means that all banks, all investment firms, all insurance companies, all hedge funds and any other financial entity that is large enough to significantly impact the economy would report directly to the Fed.
Under this new bill, the Federal Reserve would be given sweeping authority to demand information about the inner workings of all the financial institutions in the United States, and the Fed would directly regulate what these financial institutions can or cannot do.
No federal agency has ever been given this much power over the financial system in the history of the United States.
But there is a problem.
The Federal Reserve is NOT a government agency.
The Federal Reserve is a privately owned central bank that is designed to make a huge profit for the owners.
And who are the owners?
The owners of the Federal Reserve include very powerful international bankers from Europe and the United States.....
FutureStorm: New Bill Makes Federal Reserve "Super Cop" Over The Entire Financial System Of The United States