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Yorkshire Linen are a business specialising in discounted bed linen, duvet covers, lined curtains and other home furnishings including towels, throws and bathroom accessories.

10/24/09 CLASSIC CARS LINED UP OUTSIDE BLESSED SACRAMENT FOR FOUNDERS DAY PARADE

http://www.house.gov/paul http://CampaignForLiberty.com Mr. Speaker, the big guns have lined up against H.R. 1207, the bill to audit the Federal Reserve. What is it that they are so concerned about? What information are they hiding from the American people? The screed is: ``Transparency is okay--except for those things they don't want to be transparent.'' Federal Reserve Chairman Ben Bernanke argues that H.R. 1207, the legislation to audit the Federal Reserve, would politicize monetary policy. He claims that monetary policy must remain ``independent,'' that is, secret. He ignores history, because chairmen of the Federal Reserve in the past, especially when up for reappointment, do their best to accommodate the President with politically driven low interest rates and a bubble economy. Former Federal Reserve Board Chairman Arthur Burns, when asked about all the inflation he brought about in 1971, before Nixon's re-election, said that the Fed has to do what the President wants it to do, or it would ``lose its independence.'' That about tells you everything. Not by accident, Chairman Burns strongly supported Nixon's program of wage and price controls, the same year; but I guess that's not political. Is not making secret deals with the likes of Goldman Sachs, international financial institutions, foreign governments and foreign central banks, politicizing monetary policy? Bernanke argues that the knowledge that their discussions and decisions will one day be scrutinized will compromise the freedom of the Open Market Committee to pursue sound policy. If it is sound and honest, and serves no special interest, what's the problem? He claims that H.R. 1207 would give power to Congress to affect monetary policy. He dreamt this up to instill fear, an old statist trick to justify government power. H.R. 1207 does nothing of the sort. He suggested that the day after an FOMC meeting, Congress could send in the GAO to demand an audit of everything said and done. This is hardly the case. The FOMC function, under 1207, would not change. The detailed transcripts of the FOMC meetings are released every 5 years, so why would this be so different, and what is it that they don't want the American people to know? Is there something about the transcripts that need to be kept secret, or are the transcripts actually not verbatim? Fed sychophants argue that an audit would destroy the financial market's faith in the Fed. They say this in the midst of the greatest financial crisis in history, brought on by none other than the Federal Reserve. In fact, Chairman Bernanke stated on November 14, 2007, that ``a considerable amount of evidence indicates that central bank transparency increases the effectiveness of monetary policy and enhances economic and financial performance.'' They also argue that an audit would hurt the value of the U.S. dollar. In fact, the Fed, in less than 100 years of its existence, has reduced the value of the 1914 dollar by 96 percent. They claim H.R. 1207 would raise interest rates. How could it? The Fed sets interest rates and the bill doesn't interfere with monetary policy. Congress would have no say in the matter; and besides, Congress likes low interest rates. It is argued that the Fed wouldn't be free to raise interest rates if they thought it necessary. But Bernanke has already assured the Congress that rates are going to stay low for the foreseeable future, and, again, this bill does nothing to allow Congress to interfere with interest rate setting. Fed supporters claim that they want to protect the public's interest with their secrecy. But the banks and Wall Street are the opponents of 1207, and the people are for it. Just who best represents the ``public's'' interest? The real question is, why are Wall Street and the Feds so hysterically opposed to 1207? Just what information are they so anxious to keep secret? Only an audit of the Federal Reserve will answer these questions.

Author: mvpsprods Added: Thu, 02 Jul 2009 16:34:07 -0800 Duration: 0http://www.60MinuteLoanModification.com FREE CD shows how I modified loans on all 5 of my properties. My simple system helps you beat the bank, lower your payments, and save your home. CLICK the link above to learn more. I Can Help You Save Your Home! FREE Loan Modification Quickstart CD http://www.60minuteloanmodification.com/pre-checkout-page/

http://www.60MinuteLoanModification.com FREE CD shows how I modified loans on all 5 of my properties. My simple system helps you beat the bank, lower your payments, and save your home. CLICK the link above to learn more. [Below is an excerpt from a live loan modification teleconference] Ryan: And I know, you tell me you got divorced and you moved and the business failed and this happened and that happened. And you know, what we were helping people get through was, you know, a three page hardship letter that went on about the story and the bottom line is, it is reduction of income or it is an increase of expenses or it's a combination of the two. And I don't know, I find it somewhat cathartic to put a label on it like that just say hey, you know, it's something that everyone's experiencing. Do you know what I mean? Mike: Sure. All right, hey, I wanted to reference on page 34 of the workbook. I think this diagram is several months old but it still captures the point I wanted to make about finding out if you qualified. See the three circles there. Ability to pay, hardship and type of loan. Those are the primary three guidelines that the banks are using and where they all three intersect, the darkest area there, that's the bullseye. If you're in there where you have a strong story in all three of those areas you are certain to get a loan modification. In the less dark, the gray areas, there you are likely and in the other areas it's possible. Ryan: I got to tell you, if this graphic doesn't do anything for you guys, don't feel guilty. This thing to me is mind numbing. Unhelpful. But give me a bullet point list and I'm happier. That's on page 34. Mike: Okay. And we do have that loan modification qualification calculator still on our website. Feel free to use that. I Can Help You Save Your Home! FREE Loan Modification Quickstart CD http://www.60minuteloanmodification.com/pre-checkout-page/

http://www.60MinuteLoanModification.com FREE CD shows how I modified loans on all 5 of my properties. My simple system helps you beat the bank, lower your payments, and save your home. CLICK the link above to learn more I Can Help You Save Your Home!