By Carey Wedler
The Federal Reserve bank is well known for its secrecy. But in an attempt to reach out to the people it claims to serve, the monolithic bank just created a Facebook page . . . and it’s probably really regretting that decision.
Unlike Twitter, where the Fed decides which comments to reply to — and, therefore, which show up publicly on its page — its public Facebook page, launched Thursday morning, is not as restrictive. In fact, the Board of Governors of the Federal Reserve System page has been relentlessly trolled since it went up.
The Federal Reserve bank was originally crafted largely by bankers, including JPMorgan Chase & Co. It has never been fully audited since the Federal Reserve Act was passed in 1913, yet it enjoys an omnipresent status in the United States. As the Fed’s Facebook page points out, “Over the years, its role in banking and the economy has expanded.”
People have protested the banking institution since it was created, but it remains one of the best-guarded, most opaque institutions in the country.
A congressionally mandated audit by the Government Accountability Office in 2011 found the Fed had loaned out $16 trillion dollars to big banks around the world. As noted by Senator Bernie Sanders at the time, “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”
Sanders’s press release highlighted a more specific conflict of interest:
For example, the CEO of JPMorgan Chase served on the New York Fed’s board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JPMorgan Chase served as one of the clearing banks for the Fed’s emergency lending programs.
In 2012, the Federal Reserve earned $80 billion in profits. The gap between rich and poor in America had already grown substantially in the preceding years. At least one official from the St. Louis branch of the bank admitted the Fed’s signature policy of quantitative easing had failed to help the recovery.
Lawmakers like former congressman Ron Paul have long fought to make the Fed more transparent and to hold it accountable. Paul has always challenged its fundamental authority, taking the more extreme stance that rather than auditing the fed, we should end it. Others have stopped short of terminating the bank, but still advocate more openness and vigilance over the private institution.
If the comments on the Fed’s new Facebook page are any indicator, many people harbor similar sentiments.
In response to the Fed’s statement that it helps “make decisions that help promote the health of the U.S. economy and the stability of the U.S. financial system,” one commenter sarcastically asked:
Commenters on other posts hurled further critiques of the Fed. One challenged the popular notion that the bank is a branch of the government (it isn’t, though it was created and granted authority by government).
Other comments spoke to the Fed’s broader policies:
Many criticized Janet Yellen, the current chair of the Federal Reserve who campaigned aggressively against a full audit of the bank:
Still others kept it simple and to the point:
And, of course, some criticized the Fed’s decision to join Facebook:
At the time of this article’s publication, the Federal Reserve has not responded to any of the comments, though in light of its reputation for secrecy, it gets marginal credit for not deleting them.
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Destroyed by TROLLS??I have to say….the people commenting on Facebook are more REAL and TRUTHFUL than the corrupt people at the Federal Reserve OR the Infernal Revenue Stealing agency
The Activist Post is an astroturfing agency masquerading as a truth publication… that’s why they call intelligent people ‘Trolls’.
Hmm, is it written in Yiddish, the “official” language of the legislative/executive/judicial branches of government?
Hard to believe they actually thought this would be a good thing for them. Since 100 cent 1913 dollar, the dollar is now worth 3-4 cents and we are 20 trillion dollars in debt.
The scoundrels in the Fed and in our government allowed this to happen one day and one dollar at a time.
Only Trump will take action to expose this and hopefully doe his Andrew Jackson thing and eliminate the Federal Reserve.
Even Woodrow Wilson, who signed the Federal Reserve Act into law said later:
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
Woodrow thought it was bad then…..he’s rolling over in his grave now.
Still, people don’t believe it.
You were doing great until you mentioned Trump. He is one of the Zionist cabal being put out in front so we can think we are in control.
I am no fan of the Middle-East no matter the country.
Seems like a reach, Restless, to claim Trump is part of a Zionist cabal.
It’s only a reach for those who haven’t bothered to do their homework.
Uh huh. Well you go ahead and vote for Clinton then. I’ll take my chances with Trump.
For a bunch of banker’s that has to be their most stupid move yet. Wonder how many “friends they have?
Wonder how many enemies they’ve created?
The unFed b.s.zentral bank of the Usurped States has been privately owned since 12/21/1913 when the traitor (should be dug up and turned upside down) Woodie the treasonous Wilson gave the keys up to them.
They have caused nothing but misery for the commoner withe the 7 year pump and dump plan.
The unholy owners need to go the way of Iceland.
BTW: the beloved (by the dems) Bernie gutted Ron Pauls bill.
G.Edward Griffin summed up his 700 page book ‘The Creature of Jekyll Island’ at a Ron Paul Rally circa 2008…”can you say the biggest scam in the history of the United States…”
END the FED.