Media ArticlesExcerpts of Key Media Articles in Major Media
Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Once upon a time, you needed a crystal ball to see the future. Now all you need is a powerpoint. This week in Japan, Nissan unveiled the future of motoring, the production-ready, plug-in, electric family car. Called the Leaf, this spacious five-door hatch promises to usher in a new paradigm of motoring. Its name was chosen to indicate clean air, or, as the company said, because it "purifies air by taking emissions out of the driving experience." It's not a far-off dream of engineers, either. The Leaf will be on the roads in Japan and the US next year. And Nissan has two more EVs (electric vehicles) that are "imminent," as one senior company executive [said]. Simple in concept yet sophisticated in its execution, the car plugs into regular powerpoints to charge its onboard batteries. Unlike hybrids such as Toyota's Prius, Honda's Insight and the forthcoming Holden Volt, the Leaf doesn't require any petrol. It's 100 per cent electric. So far, Nissan, in its alliance with Renault (the two companies share the one chief executive but have separate boards), has signed understandings or agreements with 27 governments around the world to bring in electric cars. For consumers, though, the biggest hurdle will be its price. Rival Mitsubishi has its first all-electric car, the iMiEV, on the cusp of entering Japanese showrooms but, contrary to its diminutive size, it carries a big price tag there -- nearly $60,000 [Australian]. But Nissan is working on the financing details of the Leaf so it costs less to own and run than a comparable petrol car. It's Nissan's EV strategy to take the technology to the masses.
Note: For more reports from reliable sources on exciting new automotive technology and energy developments, click here.
President Obama's effort to revive the American car industry with a "cash-for-clunkers" scheme has become embroiled in a row over government snooping. The problems arose after the Department of Transportation claimed that when dealers logged on to the clunkers website their computers – and everything on them – become the property of the US Government. "This application provides access to the Department of Transportation (DoT) CARS system," the warning message read. "When logged on to the CARS system, your computer is considered a Federal computer system and is the property of the United States Government. Any or all uses of this system and all files on this system may be intercepted, monitored, recorded, copied, audited, inspected, and disclosed to authorised CARS, DoT, and law enforcement personnel, as well as authorised officials of other agencies, both domestic and foreign." By the time the disclaimer had been circulated widely on blogs, posted on YouTube and become the subject of a ferocious on-air editorial by the conservative Fox News host Glenn Beck, the Department of Transportation had issued a statement saying that "we are working to revise the language". No explanation was given as to why the original disclaimer was worded so aggressively. Members of the general public do not need to log on to the website so were not asked to agree to the same conditions as dealers. Mr Obama's ... critics argue that the controversy is another example of the intrusiveness that will accompany the President's plans to expand the role of government in the lives of Americans.
Note: Watch a revealing Fox news video report of this unbelievable development at this link. Big Brother at work.
Something extraordinary happened to Carly Fleischmann, a severely autistic 14-year-old who, unable to speak, was once written off as mentally deficient. "It is hard to be autistic because no one understands me. People look at me and assume I am dumb because I can't speak." There are experts and skeptics who believe that nonverbal people like Carly are incapable of thinking or writing. Her words may never have been found if not for the relentless determination of her family, who never gave up on her. Carly's story is how one child found her way out of the dense forest that is autism, and how her experience may unlock the mysteries of this baffling disorder. In the beginning, Carly's delays prevented her from walking and sitting up, but as she grew, it became painfully clear that Carly couldn't speak. But then one day, three years ago, when Carly was 11, she was working with two of her therapists when she started to feel sick. Unable to communicate what she needed, she ran to a computer and began to type for the first time. First she typed the word "H-U-R-T" and then "H-E-L-P" and then she threw up. Her therapists were shocked: They had never specifically taught her those words, and they wondered where she had learned them. Carly's typing showed them that there was a lot more going on inside her head than they had thought. For the first time she was able to communicate independently. After nine years of intensive therapy, and not much to show for it, Carly was finally emerging out of her silent, secret world.
Note: For an inspiring and eye-opening ABC News video showing this amazing girl's story, click here.
British computer hacker Gary McKinnon's fight against extradition to the US has drawn support from a large and diverse range of influential people. How did his case become such a cause celebre? Mr McKinnon has become Britain's best-known conspiracy theorist. Mr McKinnon does not deny he hacked into Pentagon systems, but claims he was searching for evidence of a UFO cover-up. The American authorities see it differently. The 43-year-old is a wanted man in the US, where he has been accused of "the biggest military computer hack of all time". For the past five years he has been fighting an extradition request from the American authorities which want to try him on US soil. If convicted there he faces up to 60 years in prison. Along the way he has amassed a legion of supporters, as diverse in their make up as they are distinguished in their own fields of achievement. They include novelist Nick Hornby, film critic Barry Norman, Emma Noble, the ex-glamour model and former daughter-in-law of John Major, Sting, his film producer wife Trudie Styler and actress Julie Christie. Politicians of all hues have also leapt on Mr McKinnon's case. And pop stars Chrissie Hynde and Sir Bob Geldof have teamed up with Gilmour to record a song of support. In the past six weeks his cause has been further bolstered by a high-profile campaign in the Daily Mail newspaper.
Note: For more on Gary McKinnon's fascinating reasons for hacking into US military computer systems, click here and here.
A special comment on health care reform in this country. The insurance industry owns the Republican Party. Not exclusively. Pharma owns part of it, too. Hospitals and HMO's, another part. Sen. John Thune of South Dakota ... has thus far received from the Health Sector, campaign contributions ... amounting to $1,206,176. How about Rep. Ginny Brown-Waite? Are you truly worth every dollar of the $369,000,255 ... you have received over the years from the Health Sector? [And Democrat] Bart Gordon of Tennessee ... $1,173,000 in donations from the Health Sector. [Democratic Senator] Max Baucus of Montana, ... you're supposed to be negotiating all this out with the Republicans and hesitant Democrats? Your price has been ... $414,000 in donations from hospitals, about $667,000 from the insurance companies and just over $1,000,000 from Big Pharma. Mr. Baucus, you are not the Senator from Schering-Plough Global Health Care, even if they have already given you $76,000 towards your re-election. We could bring up Senator Hagan ... who, at $628,000, appears to represent the insurance industry and not North Dakota. I could bring up Sen. Carper, and Sen. Blanche Lincoln. I could bring up all the other Democrats doing their masters' bidding in the House or the Senate. Every poll, every analysis, every vote, every region of this country supports health care reform, and the essential great leveling agent of a government-funded alternative to ... profiteering private insurance corporations.
Note: For an excellent analysis of the huge influence of the pharmaceutical industry over our government by the former editor-in-chief of the esteemed New England Journal of Medicine, click here. It's time to get the money influence out of politics and shift from our current one dollar equals one vote to one person equals one vote.
The federal government is behind the times when it comes to making decisions about advancing the solar industry, according to several solar-industry experts. This has led, they argue, to a misplaced emphasis on research into futuristic new technologies, rather than support for scaling up existing ones. That was the prevailing opinion at a symposium last week put together by the National Academies in Washington, DC, on the topic of scaling up the solar industry. The meeting was attended by numerous experts from the photovoltaic industry and academia. And many complained that the emphasis on finding new technologies is misplaced. "This is such a fast-moving field," said Ken Zweibel, director of the Solar Institute at George Washington University. "To some degree, we're fighting the last war. We're answering the questions from 5, 10, 15 years ago in a world where things have really changed." Industry experts at the Washington symposium argued that new technologies will take decades to come to market, judging from how long commercialization of other solar technologies has taken. Meanwhile, says Zweibel, conventional technologies "have made the kind of progress that we were hoping futuristic technologies could make." For example, researchers have sought to bring the cost of solar power to under $1 per watt, and as of the first quarter of this year one company, First Solar, has done this. These cost reductions have made solar power cheaper than the natural-gas-powered plants used to produce extra electricity to meet demand on hot summer days.
Note: Interesting that MIT has reported this story, but none of the major media picked it up. Solar energy will very likely be cheaper than oil-generated energy in under 10 years. For more on the current state of solar, click here.
If not for the Finnish American Reporter, Steve Lehto would never have eaten barbecued chicken in Jay Leno's garage after taking a ride in a car that sounds like a vacuum cleaner. Also, Lehto wouldn't have finally found an agent for his book [Chrysler's Turbine Car: The Rise and Fall of Detroit's Coolest Creation] about the Chrysler Turbine. The Chrysler Turbine was essentially a stylish, bronze-colored, four-seat sedan with a jet engine. It could run on gasoline, kerosene, or just about anything else, including Chanel No. 5 and tequila. Of the 55 that Chrysler produced, none were sold to the public, and all but nine were destroyed when the experiment ended. A collector in Indiana owns one. Museums have five. Chrysler had three -- and now one of them is [Jay] Leno's. "He offered to let me drive it if I was ever in town," Lehto says, "which I just happened to be, as soon as I could get tickets." Yelps and cheers from bystanders as they cruised the streets of Burbank. Cuisine from a grill in one of Leno's garages. Another ride in a steam-powered 1907 White. More yelps and cheers. Also, an offer from Leno. If it'll help sell the book, he'll write a [foreword]. It does help; a New York agent has agreed to shop it around. Lehto is still in car-buff heaven. "I was 3 feet across from Jay Leno," he marvels, "having lunch."
Note: This amazing engine could run on vegetable oil and more. Why didn't it get more publicity? For lots more fascinating information on the engine, click here. For why it never got developed, click here.
Thousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. Nine of the financial firms that were among the largest recipients of federal bailout money paid about 5,000 of their traders and bankers bonuses of more than $1 million apiece for 2008, according to a report released Thursday by Andrew M. Cuomo, the New York attorney general. At Goldman Sachs, for example, bonuses of more than $1 million went to 953 traders and bankers, and Morgan Stanley awarded seven-figure bonuses to 428 employees. Even at weaker banks like Citigroup and Bank of America, million-dollar awards were distributed to hundreds of workers. Mr. Cuomo, who for months has criticized the companies over pay, said the bonuses were particularly galling because the banks survived the crisis with the government’s support. “If the bank lost money, where do you get the money to pay the bonus?” he said. All the banks named in the report declined to comment. Incentives that led to large bonuses on Wall Street are often cited as a cause of the financial crisis. Though it has been known for months that billions of dollars were spent on bonuses last year, it was unclear whether that money was spread widely or concentrated among a few workers. The report suggests that those roughly 5,000 people — a small subset of the industry — accounted for more than $5 billion in bonuses. At Goldman, just 200 people collectively were paid nearly $1 billion in total, and at Morgan Stanley, $577 million was shared by 101 people. All told, the bonus pools at the nine banks that received bailout money was $32.6 billion, while those banks lost $81 billion.
Note: How can this happen? Corruption abounds, yet the fact that you are reading this shows we can change it all. For lots more on the realities of the Wall Street bailout, click here.
Several financial giants that received federal bailout money in the last year paid out bonuses to employees in 2008 that greatly exceeded the amount of profit generated by the banks, according to a study on executive compensation released by New York State Attorney General Andrew Cuomo Thursday. Despite claims by bank executives that bonuses are tied to the company's performance, the report states that "there is no clear rhyme or reason to how the banks compensate or reward their employees." Cuomo's investigation "suggests a disconnect between compensation and bank performance that resulted in a 'heads I win, tails you lose' bonus system." According to the report: • Goldman Sachs, which earned $2.3 billion last year and received $10 billion in TARP funding, paid out $4.8 billion in bonuses in 2008 - more than double their net income. • Morgan Stanley, which earned $1.7 billion last year and received $10 billion in bailout funds, handed out $4.475 billion in bonuses, nearly three times their net income. • JPMorgan Chase, which earned $5.6 billion in 2008 and received $25 billion from the government, paid out $8.69 billion in bonus money. • Citigroup and Merrill Lynch lost a combined $54 billion last year. They received a total of $55 billion in bailouts and paid out $9 billion in combined bonuses. ($5.33 billion for Citigroup; $3.6 billion for Merrill Lynch, which was subsequently acquired by Bank of America.) Bonuses have been a hot-button issue surrounding these federally bailed out banks for months, with company executives facing heat from ... local officials like Cuomo angered by the exorbitant compensation plans for the same people widely seen as responsible for the country's financial crisis.
Note: Click here to read the full report. For lots more on the realities behind the taxpayer bailout of Wall Street, click here.
PAUL SOLMAN, NewsHour economics correspondent: As the Federal Reserve moved rapidly and radically last year to prevent what it feared was an economic meltdown, it bailed out some institutions, but not others, forced mergers, [and] created hundreds of billions of dollars. The net result: increased suspicion of the Fed itself. That's nothing new. The 1913 act of Congress that established America's central bank was ... a compromise between government ... and private banking interests, which owned the 12 regional Fed branches. [All along,] some Americans have been suspicious of the Fed for operating above politics, too close to bankers, and behind closed doors. Simply Google "Federal Reserve." You encounter everything from skepticism to fear of conspiracy. NARRATOR: With the power to regulate the money supply is also the power to bring entire economies and societies to its knees. DONALD KOHN, Federal Reserve vice chairman: We bring information to bear from the private sector, from foreign governments and foreign central banks that they tell us in confidence about what's going on in their businesses. WILLIAM GREIDER, author, "Secrets of the Temple": You could say, "We have to have our meetings in secret because things will be said that are national security secrets, but we'll vet the transcript and release it four weeks later." Why not do that? SOLMAN: A House bill ... would give the Government Accountability Office the right to audit the Fed's interest rate decisions. Chairman Bernanke opposes it as compromising the Fed's independence.
Note: If you look at the top of any U.S. currency, you will see the words "Federal Reserve Note." U.S. dollars are issued and controlled by the Federal Reserve, which is privately owned, though subject to minimal federal oversight. To see just how much control the Federal Reserve has over the issuance of U.S. currency, see their webpage at this link. For lots more on hidden manipulations of the Federal Reserve, click here.
A complicated list of who should get [swine] flu vaccine in the fall is now set. When the vaccine starts arriving in September, first in line will be pregnant women; the caretakers of infants; children and young adults; older people with chronic illness; and health-care workers. That's the advice of a 15-member committee of experts, which met all day Wednesday at the Centers for Disease Control and Prevention in Atlanta to advise the federal government on vaccine policy. The priority list names targeted groups and suggests the order in which they should be vaccinated. "The results of this meeting will kick planning into high gear," said Pascale Wortley of the CDC's Immunization Services Division. "This is a watershed moment." All that's missing is the vaccine, knowledge of how well it works and the nitty-gritty details of how to deliver it to people's arms and noses. The vaccine will come in two forms: the traditional flu shot and a "live" vaccine squirted into the nose that contains a weakened version of the new virus. Some of the vaccine will be stored in multi-dose vials containing thimerosal, an antibacterial additive that contains mercury. But there will also be single-dose syringes without thimerosal, a substance that some assert is harmful to children. Among the many unanswered questions is whether two doses will be necessary to provide full protection, how close in time two shots can be given and how big the dose will be. Vaccination programs may start before the answers are known.
Note: Why is thimerosal being used? It is a mercury additive around which there appears to be a major cover-up. For several other revealing articles which suggest an dangerous agenda with the swine flu vaccine, click here.
With the U.S. Centers for Disease Control and Prevention hoping to have 120 million doses of H1N1 swine flu virus vaccine ready before flu season this fall, some are raising concerns over what they see as an effort to rush the drug through safety trials. The source of many of these concerns is the probability that the mercury-containing preservative thimerosal will be an ingredient in some of the doses of the new vaccine. Concern over thimerosal has lingered for years. Groups opposed to current vaccination practices continue to condemn thimerosal as a toxin responsible for the development of autism and related ailments in children. Additionally, the possibility that the swine flu vaccine could also contain an adjuvant, an ingredient that would allow more doses to be created from existing supplies of the vaccine, has also worried these groups. "We don't have adequate safety studies on this vaccine before we are moving forward to market," said Lyn Redwood, president and co-founder of the group SafeMinds. "I'm really not convinced that we know for sure that the risk of the disease outweighs the risk of the vaccine, especially since this is a brand new additive that we have never used before in combination with thimerosal." During the 1976-77 flu season, a vaccine developed to prevent the spread of a strain of the swine flu was linked to an as-yet-unexplained increase in cases of a rare neurological condition known as Guillain-Barre syndrome in those who received immunizations.
Note: For many powerful reports from reliable sources on the dangers of vaccines, click here.
It was disturbing to learn ... just how close the last administration came to violating laws barring the military from engaging in law enforcement when President George W. Bush considered sending troops into a Buffalo suburb in 2002 to arrest terrorism suspects. Unfortunately, this is not necessarily a problem of the past. More needs to be done to ensure that the military is not illegally deployed in this country. The Posse Comitatus Act of 1878 generally prohibits the military from law enforcement activities within the United States. The Lackawanna Six controversy is history, but there are troubling signs the military may be injecting itself today into law enforcement. The American Civil Liberties Union has been sounding the alarm about the proliferation of "fusion centers," in which federal, state and local law enforcement cooperate on anti-terrorism work. According to the A.C.L.U., the lines have blurred, and the centers have involved military personnel in domestic law enforcement. Congress should investigate. Civil libertarians are also raising questions about a program known as the Chemical, Biological, Radiological/Nuclear and High-Yield Explosives Consequence Management Response Force. The Army says its aim is to have active-duty troops ready to back up local law enforcement in catastrophic situations, like an attack with a nuclear weapon. That could be legal, but the workings of these units are murky. Again, Congress should ensure that the military is not moving into prohibited areas. After the lack of respect for posse comitatus at the highest ranks of the previous administration, the Obama White House and Congress must ensure that the lines between military and law enforcement have been restored, clearly, and that they are respected.
Note: For many revealing reports from reliable sources on government and military threats to civil liberties, click here.
Filmmaker Louie Psihoyos discusses his new documentary, "The Cove", a shocking and moving account of dolphin abuse off the coast of Taijii, Japan. Psihoyos and his team painstakingly documented a thriving operation that captures dolphins, the healthiest and handsomest of which are sold to aquariums worldwide. The rest are slaughtered, often ending up as food for human consumption, despite high mercury levels. Going into the village of Taijii, Psihoyos tells Fresh Air, is "like walking into a Stephen King novel." There's lots of visible marketing — statues, murals— proclaiming the town's love of dolphins. "The whole town was built around loving dolphins and whales. And then in the middle of town, is this national park that even Japanese people can't go in. Big tall fences, steel spikes on the gates, razor ribbon, barbed wire, a series of tunnels to get through on one side to get there — it was like a fortress. And Ric said, 'That's where this all happens' — in this national park.' " "Ric" is Ric O'Barry — a former dolphin trainer responsible for teaching the dolphins of TV's Flipper their tricks. He has devoted years to rescuing the intelligent mammals he once helped capture. "I get more upset with the dolphin trainers I see there than the fishermen," O'Barry tells Terry Gross. Japanese fishermen, he explains, think of dolphins as being in the same category as fish — not least, O'Barry says, because the Japanese character for "whale" translates literally into "monster fish." "But the dolphin trainers, who are there working side by side with them, look [the dolphins] in the eye every day," O'Barry says. "They give them names. They spend time with them. They know they're self-aware."
Note: To read reviews of "The Cove", click here and here. For many reports on the amazing capacities of marine mammals and the threats to them from human activities, click here.
The Pentagon is preparing to make troops available if necessary to help the Federal Emergency Management Agency tackle a potential outbreak of the H1N1 virus this fall, FOX News has confirmed. Defense Secretary Robert Gates is preparing to sign an order authorizing the military to set up five regional teams to deal with the potential outbreak of H1N1 influenza if FEMA requests help. A senior U.S. defense official told FOX News that the plan calls for military task forces to work in conjunction with the FEMA. No final decision has been reached on how the military effort would be manned, but one source said it likely would include personnel from all branches of the military. It is not known how many troops would be needed and whether they would come from the active duty or the National Guard and Reserve forces. In the event of a major outbreak, civilian authorities would lead any relief efforts, the official said. The military, as it would for a natural disaster or other significant emergency situation, could provide support and fulfill any tasks that civilian authorities could not, such as air transport or testing of large numbers of viral samples from infected patients. As a first step, military leaders have asked Gates to authorize planning for the potential assistance. Orders to deploy actual forces would be reviewed later, depending on how much of a health threat the flu poses this fall, the officials said.
Note: In conjunction with all the other evidence that the swine flu scare is bogus, it appears that it may also be designed to provide a "wedge" to break down the prohibition, established by the Posse Comitatus Act, against use of military troops in domestic operations. For many revealing reports from reliable sources on government and military threats to civil liberties, click here.
Today at the CDC in Atlanta, health officials are huddled, trying to game plan the best way to dole out a vaccine for swine flu. But what about the vaccine preservative thimerosal? Here is what the CDC says about Thimerosal: "There is no convincing evidence of harm caused by the low doses of thimerosal in vaccines, except for minor reactions like redness and swelling at the injection site." Thimerosal is no longer used in all child vaccines made in the US except for the flu vaccine. Here is the CDC on Thimerosal and flu shots: "Yes, the majority of influenza vaccines distributed in the United States currently contain Thimerosal as a preservative. However, some contain only trace amounts of Thimerosal and are considered by the Food and Drug Administration (FDA) to be preservative-free." It would seem likely that the new Swine Flu vaccine therefore would contain some amount of Thimerosal. It would also seem likely that will give some parents pause.
Note: For a powerful article on a major cover-up around thimerosal written by Robert F. Kennedy, Jr., click here. For many powerful reports from reliable sources on the dangers of vaccines, click here.
Terisa and Matt and Vera and Larry ... believe in "ethical nonmonogamy," or engaging in loving, intimate relationships with more than one person – based upon the knowledge and consent of everyone involved. They are polyamorous, to use the term of art applied to multiple-partner families like theirs, and they wouldn't want to live any other way. Researchers are just beginning to study the phenomenon, but the few who do, estimate that openly polyamorous families in the United States number more than half a million. Over the past year, books like Open, by journalist Jenny Block; Opening Up, by sex columnist Tristan Taormino ... have helped publicize the concept. Today there are poly blogs and podcasts, local get-togethers, and an online polyamory magazine called Loving More with 15,000 regular readers. Celebrities like actress Tilda Swinton and Carla Bruni, the first lady of France, have voiced support. Polys say they aren't so much denying their biological instincts as insisting they can work around them – through open communication, patience, and honesty. Polys call this process "compersion," or learning to find personal fulfillment in the emotional and sexual satisfaction of your partner, even if you're not the one doing the satisfying. "It's about making sure that everybody's needs are met, including your own," says Terisa. "And that's not always easy, but it's part of the fun." It's a new paradigm, certainly – and it does break some rules. "Polyamory scares people. It shakes up their world view," says Allena Gabosch, the director of the Seattle-based Center for Sex Positive Culture.
It sounds like the classic science movie "The Abyss" — only in Russian. The Russian Navy has declassified its records of UFO encounters, many of which take place in or around water, reports the Web site of the English-language Russian news channel Russia Today. "They are most often seen in the deepest part of the Atlantic Ocean, in the southern part of the Bermuda Triangle, and also in the Caribbean Sea," said one naval intelligence officer quoted by the Web site. Another incident cited involved six unknown objects that followed a nuclear submarine in the Pacific. When the sub surfaced, so did the objects — which then lifted themselves out of the water and flew away. In perhaps the most compelling account, military divers in Siberia's Lake Baikal, the world's deepest lake, encountered "a group of humanoid creatures dressed in silvery suits" at a depth of 160 feet. Three humans died during the ensuing chase.
Note: For the testimony of numerous top government and military officials from several different countries on a major UFO cover-up, click here.
A shift in authority has given military officials at the White House a bigger operational role in creating a backup government if the nation’s capital were “decapitated” by a terrorist attack or other calamity, according to current and former officials involved in the decision. The move ... was made in the closing weeks of the administration of President George W. Bush. Officials said the Obama administration had left the plan essentially intact. Under the revamped structure, the White House Military Office, which reports to the office of the White House chief of staff, has assumed a more central role in setting up a temporary “shadow government” in a crisis. And the office, a 2,300-person outfit best known for flying Air Force One, has taken on added responsibilities as the lead agent in shepherding government leaders to a secure site at Mount Weather in rural Virginia, keeping classified lists of successors and maintaining computer systems, among other operational duties. Many of these types of tasks were previously handled by civilians at other agencies, led by the Federal Emergency Management Agency. Officials at other agencies that have traditionally played critical roles expressed concern that the new structure placed too much power in the hands of too few people inside the White House. They also saw the move as part of the Bush administration’s broader efforts to enhance the power of the White House. Though the office reports to the White House, many of its employees are uniformed soldiers, and it has sometimes been led by a military officer. While Obama administration officials would not discuss details of their continuity plan, they said the current policy was “settled,” and they drew no distance between their own policies and those left behind by the Bush administration.
Note: For more on the Shadow Government, click here. For lots more on government secrecy from major media sources, click here.
The Obama administration's plan to increase the powers of the Federal Reserve, says one critic, is like giving a teenager "a bigger, faster car right after he crashed the family station wagon." Broadening the Fed's responsibilities won't help. Instead, we should think of how best to dismantle an overextended Fed. The Fed has been incapacitated by its transformation into an omnibus enterprise with responsibilities ranging from boots-on-the-ground regulation to high-level monetary policy. The Federal Reserve Act of 1913, which created the Federal Reserve System, did so to forestall financial panics rather than pursue macroeconomic policies. The gold standard defined monetary policy. The Fed was merely meant to "provide an elastic currency" by serving as lender of last resort in times of crisis. The Act also assigned the Fed routine responsibilities for maintaining and improving the financial system – examining banks, issuing currency notes, and helping clear checks. The adoption of Keynesian and monetarist ideas by central bankers and elected officials subsequently cast the Fed in a proactive macroeconomic role. In 1977, an amendment to the 1913 Act explicitly charged the Fed with promoting "maximum" employment and "stable" prices. The Bank Holding Company Act of 1956 gave the Fed responsibility over holding companies designed to circumvent restrictions placed on individual banks. Congress further tasked the Fed with enforcing consumer-protection and fair-lending rules. While the record of the Fed's monetary policy has been mixed, its supervision of financial institutions has been a predictable and comprehensive failure. The Fed's excessively broad mandate also has thwarted accountability.
Note: The bill to audit the Fed (HR 1207) in the US Congress now has 276 co-signers -- more than 50% of all members. Yet the media is hardly reporting on this. Contact your Congressional representatives now at this link.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.