The first link reports that Senator Rand Paul of Kentucky (and a likely GOP presidential candidate) has introduced a bill in the US Senate to audit the Federal Reserve Board. It will be very interesting to see what happens with this bill and any companion bill in the US House of Representatives this year. Last year, the GOP-controlled House passed a bill to audit the Fed, but the Democrat-controlled Senate refused to agree. This year, the GOP controls both houses of the US Congress. Now we will see if the GOP is really serious about auditing the Fed or whether last year’s vote in the House was only “for show.” This year, the GOP cannot blame Sen. Harry Reid or the Democrats for not passing the bill. Indeed, Sen. Paul’s bill may be an effort to warn the Senate and House GOP leaderships they he intends to “hold their feet to the fire” on this issue. If the GOP leaderships do not pass a bill to audit the Fed, Sen. Paul will gain a major national campaign issue and a possible advantage over any of his GOP rivals who want to shield the Fed from any audit. It may be that some members of Congress voted to audit the Fed when they knew it was only “for show,” but they may be reluctant to vote for it when it really matters. Presidents and Congresses all love to spend more money than the US Treasury takes in, so they actually benefit from having the Fed as it can create “funny money” to finance the federal government’s excess spending.

If the Congress does vote to audit the Fed, will it be a real forensic audit or just a superficial “gloss-over” which gives the impression of an audit without really getting into the real machinations and interactions of the inner sanctum of the Fed, its officers and its main outside contacts in the big banks and Wall Street institutions?

I just watched on Al Jazeera America, a cable-TV network, a one-hour documentary movie entitled “Money for Nothing,” which is a well-documented expose of the Federal Reserve Board’s role in manipulating/inflating the US money supply, or causing either Depressions or financial “Bubbles” with its monetary policies. The program showed the movie/documentary was made in 2013, and it is most interesting. It is not a ‘fringe” production; It includes segments of interviews with many former Fed insiders and Members. I had hoped to pass on this link to readers, but it is apparently an item which must be purchased on-line. The second link offers links with trailers from the movie and ways to obtain copies if you wish to do so. Since Al Jazeera America’s news network ran it in its entirety, that outlet may run it again in the future. If your cable-TV or satellite-TV connection offers Al Jazeera America, you can consult its schedule guide to see when/if it will air the entire program again. I will briefly summarize just some of its main points. It asserts that Alan Greenspan, former Fed Chairman, essentially “played God with the business cycle,” and instituted what became known as the “Greenspan put,” (later the “Bernanke Put”) which allowed banking and financial institutions to make reckless gambles with cheap money knowing that the Fed would bail them out of their bad decisions and investments. This was euphemistically called “the socialization of risk,” but what it meant was taxpayers being put on the hook to bail out the big banks and investment houses. It also asserts that the Fed bailed out the global investment system from a systemic banking failure in the post-2008 crash by loaning $4,000,000,000,000 to large banks, both foreign and domestic.

In 2014, one of my posts included a link which reported that the global central banks owned approximately half the equity investments of the entire world as of 2012. I’ve included the referenced link as the third link in this post. if this is true, it means that the global equity markets have been artificially propped up with “funny money” created by central banks. It is logical to assume that since the US Federal Reserve Bank creates the US dollar, the global reserve currency, much if not most of that total was money created by the US Fed. Look at the chart in the third link and ask yourself: Where would the value of stocks and all equity markets be today if the central banks had not created any of the money with which they propped up the value of those equities?

There are many “conspiracy theories” about the US Federal Reserve Board. I don’t claim to be familiar with them all, but I found a fascinating link (fourth link) which, while defending the Fed against some attacks, inadvertently exposes the Fed with the truth. In its effort to deny one theory vs. the Fed (that it is owned by foreign banks and monied interests), it actually reveals that the Fed is owned by consortiums of domestic US banks and lending institutions which are required to buy shares in the Federal Reserve Board District in which they are domiciled. It states the Fed is not required to reveal its stockholders as it is not a publicly-traded corporation. This actually admits the Fed is not an agency of the US Federal Government, but rather is a private bank.

The fifth link reports that there may be a bit of a civil war going on within the Fed and the overall US banking system. The retiring President of the Dallas Federal Reserve Board district has called for the reining in of the power of the New York District of the Federal Reserve Board, and his call has been supported by influential members of the US Congress. Perhaps in an effort to forestall any Congressional action to restructure the Fed or audit it, the Washington, DC national office of the Federal Reserve Board has moved to do exactly that (see sixth link with a report dated March 25, 2015). This action is unprecedented. Is it too strong an observation to assume that the New York District of the Federal Reserve Board was just “defrocked” by the Fed’s office in the US capitol? This indicates that major things are happening behind closed doors where the media and public are not allowed to tread.

It also indicates to me that we are drawing closer to the fulfillment of the prophecies in Revelation 17-18 that there will be a global systemic collapse of the financial/monetary markets in the latter days, and that the status quo system (which is the US dollar-based global system with the US Federal Reserve as its beating heart) will be replaced by a new “beast” system. Revelation 17:16 uses language indicating that this collapse will be a painful and traumatic event. It is hardly a “fringe” prediction to state that this will happen in our future. In 2008, then-Secretary of the US Treasury Paulson warned that the global system was within hours of just such a collapse in 2008.

Some may be looking forward to the collapse of the US Federal Reserve Board. On the good side, it will be a benchmark event that confirms the Holy Bible’s prophecies are coming to pass, but it will also likely have its most deleterious effects on US citizens, businesses and banks. The US Federal Reserve creates the endless supply of US dollars that “floats all boats” in all kinds of financial bubbles and creates easy money for the USA. When the dollar ceases to be the global reserve currency, it means the USA will have to begin suddenly to live within its means and all kinds of federal government spending cutbacks will be required. Since states and local governments receive lots of federal “funny money” to finance their own budgets, that federal funding may dry up overnight when the crisis hits. If so, state and local governments will have to make major spending cuts as well. Things could get really painful real fast. Be careful what you wish for.