Central banks exist for the benefit of the government and selected, powerful commercial banks. They do not exist for the benefit of the average people of the nation. That this is so poorly understood explains how they are able to get away with massive intervention in the banking system and markets without a revolt. If the people really understood what was going on, there would be such an outcry that the FED would be abolished as a previous version was under the leadership of President Andrew Jackson.
Some other nations have apparently figured out their central banks' game and have taken action.
First, Iceland, and now Spain has taken on the Big Bankers responsible for financial calamity, as the country’s highest national court charged the former head of Spain’s central bank, a market regulator, and five other banking officials over a failed bank leading to the loss of millions of euros for smaller investors.
This, of course, markedly departs from the mammoth taxpayer giveaway — commonly referred to as the bailout — approved by the U.S. government ostensively to “save” the Big Banks and, albeit unstated, allow the enormous institutions to continue bilking customers without the slightest fear of penalty.
The US Federal Reserve Bank has never come clean about its transactions in bailing out the “too big to fail” banks during the 2008 financial crisis. Nor does the FED ever intend to. Hence, a financial crime of enormous proportions will never be punished. And, to make matters worse, the whole debacle could repeat itself again at some unknown future point.
Ireland, on the other hand, has joined the nations that are getting it right. They are prosecuting a banker involved in nefarious financial transactions during that financial crisis instead of giving him a pass as is the practice in the US
Central banking is a scourge on the nation. It does not exist to benefit the economy or the people as advertised. It exists to protect the financial elite who sit at the top of the financial pyramid, and the institutions they control. While their means of doing this is incredibly complex, the problem is just that simple.
Passing a bill to audit the FED is that organization's worst nightmare. If what the FED does were exposed for the people to see, there would be pitchforks in the streets.
Source: The Free Thought Project