Wednesday, November 18, 2009

Will Attorney General Holder and Treasury Secretary Geithner Hold the Federal Reserve System Accountable as Criminals?

November 18th, 2009

As reported yesterday evening on National Public Radio / KCRW 88.9 FM Radio Santa Monica California, during yesterday’s press conference addressing the launch of a new financial fraud taskforce U.S. Attorney General Holder and Treasury Secretary Geithner promised to hold legally accountable any financial/Wall Street–type individuals/criminals whose wrongful activities helped to mislead the nation to its current economic recession/depression. In light of the current weakness of the devalued dollar, one has to wonder if they plan to address the Federal Reserve System as criminals as well.

Arguably, the weakened state of the dollar could be considered as criminal. The weakened state of the dollar also could be the prime factor in much of the nation’s current financial mess. And, clearly there is no one entity to which blame can be assessed for the weakened state of the dollar other than the Federal Reserve System.

Given newspaper articles such as “Geithner calls for ‘strong’ dollar,” by Tom Petruno (and published in the November 12th 2009, Business Section of the Los Angeles Times), that speak of the Secretary’s superficial assurances to the financial markets of his moderately sincere desires to ‘maintain a strong dollar,’ will the Secretary and Attorney General then hold the Federal Reserve responsible [as criminals] for the current national economic recession/depression that could be easily attributed to the weakened value of the U.S. Dollar? Or, will the Federal Reserve System not be held accountable for its actions in devaluing the dollar [as part of the Fed’s likely and routine quest for arbitrage opportunities], a devaluation that has apparently occurred with the Federal government’s blessings? Many are surely aware of how the Fed often appears as exempt from the laws that apply to the rest of the nation’s citizens/cartels/corporations and its exemptions from such laws seems in a similar vein to how the Fed appears as potentially exempt from the nation’s Constitutional requirements as well. At a minimum, it would seem only logical that the nation's citizens should be more openly informed of actions and decisions taken by the privileged cartel that is known as the Federal Reserve System.

PS. “Obama Administration Launches Financial Fraud Task Force,” 11/17/2009, 3:38 PM ET, ( “In order to strengthen efforts to combat financial crime, the Obama administration announced Tuesday that is has established an interagency Financial Fraud Enforcement Task Force. …..”

PSS. From the Hartford Courant ( article: “Despite facing pressure, Obama unlikely to push China too hard after Beijing signals shift,” by Martin Crutsinger, Novemer 15th, 2009, “…Treasury Secretary Timothy Geithner, at the Asia-Pacific Economic Cooperation finance meetings in Singapore last week, repeated his mantra that "it's very important to the United States that we have a strong dollar."....” (,0,4294864.story)