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Why is Senator "Bailout Bob" Corker against monetary transparency?


Senator "Bailout Bob" Corker has introduced a bill to audit the Federal Reserve. At first glance this might seem like a step in the right direction, except that he is behind the curve because there is already a bill in the US Senate to audit the Federal Reserve. It's called The Federal Reserve Sunshine Act of 2009 or S604. Its counterpart is HR1207 which already has significant grassroots and Congressional support with 303 and 30 sponsors in the House and Senate respectively.


What is wrong with simply co-sponsoring the pre-existing S604 bill that calls for a full audit of the Federal Reserve system?

The bill that Senator "Bailout Bob" Corker has introduced is a watered down and neutered version of S604. His bill allows for an audit of TARP and other bailouts (which by the way he voted for) but unlike S604 his bill does not allow for a full audit of the Federal Reserve, particularly it's inflation of the money supply or its agreements with other foreign central banks. The value of our currency is at the hands of the Federal Reserve and to turn a blind eye to what the Fed is doing under the cover of secrecy and darkness is both irresponsible and dangerous.

So the question becomes why Senator "Bailout Bob" Corker is so eager to compromise on an audit of the Federal Reserve? Why is Senator "Bailout Bob" Corker against monetary transparency? What's he trying to hide? Who is he trying to protect?

It is interesting to note that some of Senator "Bailout Bob" Corker's top contributors consist of PACs and employees from the following companies:

UBS/AG
Merrill Lynch
Regions Financial
First TN Bank

Also worth pointing out that the financial / insurance sector was the largest of all the sectors giving to Senator "Bailout-Bob" Corker's campaign at $3 million; again no relation to his position is implied. See http://www.opensecrets.org for more details on who is backing Sen Corker and others.

Call for Constitutional County Sheriffs in Tennessee Counties HJR771

Rep. Eddie Bass <http://www.capitol.tn.gov/house/members/h65.html> , a retired county sheriff, has introduced a resolution in the Tennessee General Assembly affirming the role of the constitutional sheriff in Tennessee counties.  HJR771 <http://wapp.capitol.tn.gov/apps/BillInfo/Default.aspx?BillNumber=HJR0771> proposes an amendment to the Tennessee Constitution that would define the county sheriff as the chief law enforcement officer in his or her county.  The proposed amendment states:


The sheriff, who shall be the chief law enforcement officer of the county in which he or she is elected shall have full law enforcement jurisdiction over his or her county and will command said county with the highest ethical standards and professionalism to insure integrity.  The duties of the elected sheriff shall be as follows: It will be the duty of the elected sheriff to uphold this Constitution and the Constitution of the United States, to provide full law enforcement services through out his or her county, to assist all other municipal law enforcement agencies in his or her county, as well as providing law enforcement services for any municipality that elects not to have their own law enforcement agency.

PROPOSED AMENDMENT TO THE SHELBY COUNTY CHARTER PROVIDING THE VOTERS OF SHELBY COUNTY RIGHTS TO RESCIND OR APPROVE ANNEXATION

source: http://deannexmemphis.com

This is a charter amendment that will take the power and control from local government and place the power and control back where it rightfully belongs- in the hands of the people. This law removes the right for Cities and Towns in Shelby County to lay claim to unincorporated areas of the county in the form of reserved annexation areas. The municipalities will then be required to allow the areas which they want to incorporate to vote on whether or not to be taken in.  If the  unincorporated area voters vote NO then the town or city cannot annex the unincorporated area. This law would also allow for areas of the city of Memphis which were annexed from 1970 to present to be de-annexed and returned to being unincorporated areas, and remain that way for as long as the citizens of that area wish or said areas incorporate into their own towns or cities. This amendment would truly put the power back in the hands of the people.

The Campaign for Liberty of West Tennessee, Memphis Tea Party, and Fisherville Civic Club, together with a coalition of local citizens, are co-sponsors of an amendment of the Shelby County Charter requiring any annexation initiatives, past or present, be voted upon by the citizens of Shelby County.

This power shall reside with the voters of Shelby County and allow for the rescission or approval of any proposed annexation of any municipality or unincorporated territories.  The following statement provides a summary of the proposed amendment:

“Shall Shelby County Charter be amended by deleting sections: 6.05 Municipalities, 6.07 Annexation, and 6.08 incorporation from Article VI and add a new Article IX entitled “Annexation, Deannexation, Municipal Boundaries, Incorporation

of Unincorporated territories, and Municipalities: to provide for the governing of how municipalities in Shelby County can change their boundaries by annexation and deannexation, and how unincorporated areas can incorporate. This amendment shall take effect September 30th 2010.”

 

Mayor Wharton Reviews Report On Memphis City Schools Police Force

source: http://www.myeyewitnessnews.com/news/local/story/Mayor-Wharton-Reviews-Report-On-Memphis-City/P9VCPE3Lzke8Jeg8136QsA.cspx

 MEMPHIS, TN – Increased test scores, higher graduation rates and better equipped students. Memphis City Schools says this will become a reality if the district has its own police force. But the push to move Memphis Police out of the schools may also push students out as well

For concerned parent Anita Woods, the thought of MCS having its own police force, or “peace force” is a bad idea. “I wouldn’t approve of that. We need our Memphis Police Department to do what they do well and that is police the citizens here and that includes the schools.”

A preliminary report has been given to Memphis Mayor AC Wharton. In it MCS Superintendent Kriner Cash states reasons the district should have its own force. He says current security measures are not tailored to school environments. Cash also states school police officers need and are given specialized training. That’s something he doesn’t see happening with the Memphis Police Department. “All the evidence points towards the fact we need to do something different for our young people so we can break the cycle from schoolhouse to jailhouse.”

New Proposed Tennessee Gun Show Law Banning Private Sales HB 2422

HB 2422 legislation can be read online at http://wapp.capitol.tn.gov/apps/billinfo/BillSummaryArchive.aspx?BillNumber=HB2422&ga=106

Firearms and Ammunition - As introduced, creates various gun show offenses, including prohibiting any person who is not a licensed firearms dealer from transferring a firearm to another person if any part of the transfer takes place at a gun show or within 1,000 feet of a gun show. - Amends TCA Title 39, Chapter 17.

Fiscal Summary
Increase State Revenue - Not Significant Increase State Expenditures - Not Significant Increase Local Revenue - Not Significant Increase Local Expenditures - Not Significant

Bill Summary
This bill makes it a Class A misdemeanor for any person to organize, plan, promote, or operate a gun show unless that person:

(1) Notifies the TBI and the chief law enforcement officer in the county in which the gun show is to be held of the dates, times, and location of the gun show;
(2) Verifies the identity of each gun show dealer participating in the gun show by examining a valid photo identification document of the dealer, before commencement of the gun show;
(3) Requires each gun show dealer to sign a ledger with information identifying the dealer, including the dealer's name and address, before commencement of the gun show; and
(4) Maintains a copy of the records described above in (2) and (3) at the gun show promoter's permanent place of business for one year from the date of the gun show.

This bill also makes it a Class A misdemeanor for any person who is not licensed under federal law to engage in the business of importing, manufacturing, or dealing in firearms, or importing or manufacturing ammunition, to transfer a firearm to another person if any part of the transfer takes place at a gun show, on the premises of a gun show, or within 1,000 feet of the property on which a gun show is being conducted.

Under this bill, "gun show" means any event at which 50 or more firearms are offered or exhibited for sale, transfer, or exchange and at least 20 percent of the vendors are engaged in the business of selling, leasing, or transferring firearms and are licensed under federal law as described above.
The bill would take effect on January 1, 2011.

Two nuclear waste "dump" facilities located in Memphis

Memphis has two nuclear waste "dumps" located here. 

 Many of you knew about R.A.C.E(Race-Radiological Assistance, Consulting & Engineering, LLC).., but its holdings were taken over by Studsvik Processing Facility.  I have attached a document that explains what they take in or you can download it for yourself here. Plutonium, uranium, nuclear radiated  material, alll being brought into Memphis.

 The other facility is under a company called EnergySolutions. Last year they petitioned the federal government to bring in 20,000 tons of nuclear waste.  How much could possibly come to Memphis? You can read about it here and here and here

There are conflicting reports on what they are dumping in the landfills in Shelby County, you can find it here. I think regardless of politics this affects us all. They recently did a story on this issue titled ""Tennessee Loophole" Used For Radioactive Dumping"

These are the facilities:

Preparing Americans for Hyperinflation

Watch the movie in a fuller screen by clicking  here:

Federal Reserve Says Judge Erred in Requiring Bank Disclosure

source: http://www.bloomberg.com/apps/news?pid=20601103&sid=adB2HN_jgpuE

Nov. 7 (Bloomberg) -- The Federal Reserve said a U.S. judge erred in ruling that the central bank should identify companies that received emergency loans last year, according to court papers filed to overturn the decision.

U.S. District Judge Loretta Preska improperly used the standard of “imminent harm” to a borrower’s competitive position rather than a lesser standard of “likely harm,” according to papers filed yesterday by Fed lawyers led by Senior Counsel Yvonne Mizusawa.

Bloomberg News, a unit of Bloomberg LP, the New York-based company majority-owned by New York City Mayor Michael Bloomberg, won a ruling in Manhattan federal court on Aug. 24 affirming the right of U.S. taxpayers to know about the financial firms that borrowed money. Bloomberg’s response to the Fed’s appeal to the U.S. Court of Appeals in Manhattan is due Dec. 7 and a hearing is expected to be held the week of Jan. 4.

The information sought by Bloomberg would demonstrate the central bank’s tactics in its bailout of the U.S. banking system. The Fed last year began extending credit directly to companies that weren’t banks for the first time since the Great Depression in the 1930s.

Divulging specifics about the loan program might touch off a run by depositors, unsettle shareholders and hurt the central bank’s “ability to perform important statutory functions at a time of economic upheaval,” Fed lawyers have said in legal filings.

 

Lamar Alexander rejects and replies to local petition to support transparency to The Federal Reserve

 Lamar Alexander rejects transparency and supports the secrecy of The Federal Reserve System. Here is his outrageous response to a supporter of S.604. He writes us back like he is talking to school children. We have to hold him to task.

What does the future have in store for the U.S. dollar?

source: nasdaq.com

The relative value of the U.S. dollar is certainly a newsworthy piece of financial data reported consistently on the business news channels. The implications of its relative strength or weakness not only affects the level of trade between the United States and the rest of the globe but also affects bond yields, commodity prices, and inflation.

The present theory is that the increased spending from the stimulus programs initiated by the United States will eventually lead to rising inflation, increasing interest rates, and a sharply lower dollar. Assuming the stimulus works, global investors will be left to wonder whether the dollar is worth holding.

The United States has a debt ceiling in place. The debt ceiling puts a limit on the amount of debt the U.S. Treasury can auction off to investors. In September 2007, that ceiling stood at $9.815 trillion. In February 2009, that ceiling was raised to $12.104 trillion. This represents a 23.3% increase in a relatively short period (17 months). To put the increase in perspective, the deficit only grew by 20% during the 34-month period previous to September 2007. Not only is the deficit growing by a larger amount, but it is also growing at a pace twice as fast.