Protesters Target Federal Reserve

Protesters Target Fed, As Well As Wall Street

The protesters are not just targeting Wall Street and the big banks. They’re also railing against the Federal Reserve:

(See this for the background of this image by WilliamBanzai7.)

Indeed, at the “Occupy Boston” protest outside the Federal Reserve Bank of Boston, protesters yelled their derision for the Fed:

Criticism of Fed One of Protester’s Core Platforms

Indeed, as David DeGraw points out, criticism of the Fed is one of the main motivations driving Anonymous to help organize the protests:

On Mar 12, 2011, Anonymous A99 announced their first operation by posting a video to the AmpedStatus YouTube page. The effort was called “Operation Empire State Rebellion” (#OpESR). The video “OpESR Communication #1” stated the following:

“We are a decentralized non-violent resistance movement, which seeks to restore the rule of law and fight back against the organized criminal class.

One-tenth of one percent of the population has consolidated wealth in unprecedented fashion and launched an all-out economic war against 99.9% of the population.

We are not affiliated with either wing of the two-party oligarchy. We seek an end to the corrupted two-party system by ending the campaign finance and lobbying racket.

Above all, we aim to break up the global banking cartel centered at the Federal Reserve, International Monetary Fund, Bank of International Settlement and World Bank.

We demand that the primary dealers within the Federal Reserve banking system be broken up and held accountable for rigging markets and destroying the global economy, effective immediately.

As a first sign of good faith, we demand Ben Bernanke step down as Federal Reserve chairman.

Until our demands are met and a rule of law is restored, we will engage in a relentless campaign of non-violent, peaceful, civil disobedience.”

Objectively – and without using any hyperbole – it is true that the Federal Reserve is largely responsible for destroying the economy. Indeed, many current and former high-level Fed officials and other top economic officials have slammed the Fed as well.

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  • As this blog has pointed out before, the fed may just be the big player in the plunder of Americans!

    • I suggest that we splurge on some new treasury management software for the folks at the Federal Reserve. Time is money and the United States has a lot of both — time and money. We take in voluminous amounts of cash daily and our nation spans multiple time zones. When we travel east or west, we either gain time or lose it. Money can travel as well. We know that bank accounts are linked through various time zones to form conduits and money flows through these pipelines. The money should be able to gain or lose interest depending on the route that it takes. Our government has a lot to work with and it’s important that they plan this itinerary carefully. The Twelfth Federal Reserve District alone includes several time zones and it crosses the International Date Line. There are thing to consider things like nautical time and daylight savings time. If they are not careful our money might disappear into thin air! That’s why it would be good idea to update their computer program. Let’s help the Federal Reserve find the time — and use it.

      • Peter

        Leslie, I take it you’re in software sales. Nice try. But, that’s just irrelevant to the bigger picture. And no, money isn’t going to disappear into thin air at the rate the Fed is printing money… in fact, there’ll be far too much of it.

      • Rascus

        Great wheres the hackers??

    • Sonia

      Glad to know that others are waking up. I have been hoping to see the Federal Reserve shut down for months. It is an unconstitutional PRIVATE bank that controls the nations money. Look at your money and you will see this “Federal Reserve Note”. It should say US Treasury Note. Thomas Jefferson warned against central banks in the country a long time ago. In 1913 Woodrow Wilson administration created the Federal Reserve Act and the IRS, and both were unconstitutional. The Federal Reserve is NOT a federal government entity, but a PRIVATE BANK that controls the nations money supply. They release worthless money into the economy and it is not backed by anything.

      • Peter

        Yes! Did you know that the makers or printers of the money, get 6% of everything they print. That’s their fee. So, if you crash a system, that you own (because the banking system is owned by just a few big players) and then you get government to bail you out, so you don’t lose money and then you get them to print all this bailout money, which they get 6% of… then, they can’t lose.

  • Roger W.

    “Until our demands are met and a rule of law is restored, we will engage in a relentless campaign of non-violent, peaceful, civil disobedience.” = CONTROLLED OPPOSITION

    Government’s response = National Security Presidential Directive/NSPD51

    Americans are just a bunch of stupid animals easy to manipulate and subdue. They do not have a single clue of what Martial Law is all about and will learn such lesson the hard way. The sooner the US economy collapses the better, so these brutes will finally learn NOT to live beyond their means.

    • Joseph

      And you know about martial law, Roger W? You capitalize it, so maybe you like Martial Law? Are you related to Tony Baloney by any chance?

      • Sonia

        Martial law is what the current administration and his puppets are hoping for in the US. This is what is behind all of the provacative moves the president has made in the last three years. I say we need to wait until after the 2012 election and then retaliate if Barry Soetoro aka Obama is re-elected.

    • bink

      Go back to Information Clearing house and spew your bigotry!!

    • Rascus

      They will be using you people to implement martial law….but you already knew that……down with the FED

  • cr

    This movement has become nation wide in the last 3 weeks. A new generation of people mostly young are taking the revolution to the street. Like everywhere else in the world the divide between the Have Too Much and the Have Not, has gotten even wider. Their goal is to show that “We” the 99% are fed up with the greed and corruption of the 1%. Their fuel: the “New World Order”, disdain of the corporate greed, bail outs and tax breaks for the 1%, ruinous government policy, and the corruption and unconstitutional fraud of the Federal Reserve. It’s about Corporate takeover. It started with a few young generation people who are fed up with the future of their generation. Although It is not about Unions, union workers have joined in the march to show solidarity. More and more people young and old are protesting. The event has been under almost total major media blackout nationally, until the last 2 days. Local news, personal accounts, and home video cameras have been documenting the event so far. Rallies in Los Angeles and Chicago have already been staged in support of the East Coast protests. Rallies are now being organized in Washington D.C. (Oct.6) Lexington Kentucky, San Francisco, Los Angeles, Philadelphia, Omaha Nebraska, and Birmingham Alabama. The word is being spread by twitter, face book, & online, join the movement to take your country back. They are urging you to build on this momentum and media attention they created — to keep the pressure on the President and all your elected officials, to do the right thing — by protesting or twittering, calling, emailing, the White House until you are heard. Of all the countries in the world, none need a revolution as bad as the United States, a country ruled by a handful of selfish greedy fat cats who have more income and wealth than can be spent in a lifetime.
    All great social change has not come from the White House, the State House, or City Hall. All great movements have come from Americans stepping up. Only when the people care enough & had enough that’s when politicians will have the political will to change!
    For updates on events in these cities and your neighboring areas, you can visit Occupy Together. Org.

    • Sonia

      There are two movements going on here at the same time and they are being confused and intermingled.

      The Occupy movement is made up of young socialists who want to bring down capitalism because of greed and the victim mentality.

      The Federal Reserve protestors is a conservative moment that is made up of Patriot conservatives who know the difference between unconstitutional corrupt central (now global) banking and the actual free market. The socialists are now hi-jacking the Federal Reserve protests to distract from the conservative moment.

      • Iseeit


  • G. I. JOE

    Americans do love their GUNS though…Roger. How was this country founded again Rog?

  • Kali Yuga

  • Ben Wolf

    While I agree the Fed’s role in the banking and monetary systems should be reduced, it’s another thing entirely to say it is “objectively” responsible for our economic woes. The Fed itself can be either helpful or harmful to economic performance, what matters is the policies it pursues. It would be more accurate to lay blame at the feet of neo-classical and microeconomics which have been dominant since the beginning of the Reagan Administration. I find it a little strange your critique also fails to mention fiscal policy, which is at least as important as the Fed’s monetary role in the economy.

    • Joseph

      The Fed is an insider’s cabal dedicated to serving the interests of an elite private ownership. We know what its policies are and they have never, at any time since its inception in 1913, been policies tailored in the public interest. The public interest has always been equated with the interests of private wealth, the “job creators”. Bernanke, from one corner of his mouth speaks of the Fed’s mandate to promote full employment, and out of the other we hear of the need to support the banking system. The full employment mandate is window dressing, whereas bailing out the TBTF banks and brokerages and overseas banks and brokerages, all the elite beneficiaries of this extraordinarily corrupt and venal system is what the Fed actually does in “the public interest”. There is no other policy.

      • Sonia

        Thank you for making it unnecessary for me to say all of that myself. People can be so duped it is unreal.

    • Bev

      Historical experience has taught us what we need to do:

      1. Put the Federal Reserve System into the U.S. Treasury.

2. Stop the banking system creating any part of the money supply.

3. Create new money as needed by spending it on public infrastructure, including human infrastructure, e.g. education and health care.

      These 3 elements must all be done together, and are all in draft legislative form as the proposed American Monetary Act (read it here:

The correct action is for Congress to fulfil its constitutional responsibilities to furnish the nation with its money by making the American Monetary Act law.

      The correct action for the States is to insist on this Federal action!

      Genuine monetary reform is the solution to the nation’s fiscal problems, and that can only be achieved at the national level.


      Kucinich Proposes Landmark Jobs Plan

      Bill To Put 7 Million Americans Back to Work, Rebuild Infrastructure

      Washington D.C. (September 21, 2011) — As the nation struggles with long-term unemployment at rates not seen in generations and as infrastructure crumbles across the nation, Congressman Kucinich (D-OH) today introduced a dramatic new proposal to address our structural economic problems directly by creating over 7 million jobs.

The National Emergency Employment Defense (NEED) Act of 2011 would allow the federal government to directly fund badly-needed infrastructure repairs and fund education systems nationwide by spending money into circulation without increasing the national debt or causing inflation. 

      “Today, nearly 25 million Americans are either unemployed or cannot find a job on which they can live and support their families. FDR’s response to such circumstances was the New Deal. Today, we need similarly bold solutions,” said Kucinich. “We need a solution that will revive our economy in a sustainable way that will put millions of American back to work.”

      “There should be work for those who are able to work. Government must become the employer of last resort. The private sector is not providing the jobs. When the private sector fails to provide the jobs, the government has a moral responsibility and a practical responsibility to step forward to put the country back to work.

      “The ability to coin money is an inherent power under Article I, Section 8 of the United States Constitution. The NEED Act would control inflation because it will enable the government to invest in America by creating infrastructure, which is real wealth. Inflation is caused when new money is created without the creation of new wealth,” explained Kucinich.

The proposal would also establish fiscal integrity, reassert Congressional sovereignty and regain control of monetary policy from private banks.

      • Michael

        ““The ability to coin money is an inherent power under Article I, Section 8 of the United States Constitution. The NEED Act would control inflation because it will enable the government to invest in America by creating infrastructure, which is real wealth. Inflation is caused when new money is created without the creation of new wealth,” explained Kucinich.

        No Dennis… inflation is caused by increasing money supply, economists as long ago as Richard Cantillon knew that. As Mises explains (in Money, Method and the Market Process), creation of money ALWAYS caused inflation… to make things worse the nature of inflation also createse market distortions.

        The additional quantity of money does not find its way at first into the pockets of all individuals; not every individual of those benefited first gets the same amount and not every individual reacts to the same additional quantity in the same way. Those first benefited? In the case of gold, the owners of the mines, in the case of government paper money, the treasury now have greater cash holdings and they are now in a position to offer more money on the market for goods and services they wish to buy. The additional amount of money offered by them on the market makes prices and wages go up. But not all the prices and wages rise, and those which do rise do not rise to the same degree. If the additional money is spent for military purposes, the prices of some commodities only and the wages of only some kinds of labor rise, others remain unchanged or may even temporarily fall. They may fall because there are now on the market some groups of men whose incomes have not risen but who nevertheless are obliged to pay more for some commodities, namely for those asked by the men first benefited by the inflation. Thus, price changes which are the result of the inflation start with some commodities and services only, and are diffused more or less slowly from one group to the others. It takes time till the additional quantity of money has exhausted all its price changing possibilities. But even in the end the different commodities are not affected to the same extent. The process of progressive depreciation has changed the income and the wealth of the different social groups. As long as this depreciation is still going on, as long as the additional quantity of money has not yet exhausted all its possibilities of influencing prices, as long as there are still prices left unchanged at all or not yet changed to the extent that they will be, there are in the community some groups favored and some at a disadvantage. Those selling the commodities or services whose prices rise first are in a position to sell at the new higher prices and to buy what they want to buy at the old still unchanged prices. On the other hand, those who sell commodities or services whose prices remain for some time unchanged are selling at the old prices whereas they already have to buy at the new higher prices. The former are making a specific gain, they are profiteers, the latter are losing, they are the losers, out of whose pockets the extra-gains of the profiteers must come. As long as the inflation is in progress, there is a perpetual shift in income and wealth from some social group, to other social groups. When all price consequences of the inflation are consummated, a transfer of wealth between social groups has taken place. The result is that there is in the economic system a new dispersion of wealth and income and in this new social order the wants of individuals are satisfied to different relative degrees, than formerly. Prices in this new order can not simply be a multiple of the previous prices.

        Rothbard made a quote in The Libertarian Forum, January 1, 1970
        which was addressed towards the anarcho-communists but when addressed toward Dennis is equally relevant:
        It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

        • Bev

          from: Byron Dale

          March 31, 2011

          Too Much Money is NOT The Cause of Hyperinflation!

          Almost Every Phony Expert Says That Too Much Money is the Cause of Eventual Hyperinflation.

          It’s a Banker’s Lie.

          If there is hyperinflation, THIS will be the beginning of its cause!

          Hyperinflation occurs when banks raise the interest rates into unpayable territory – mid to high triple digits. They do this knowingly and by design in order to CAUSE hyperinflation and crash an economy. Then they buy up the assets at pennies on the dollar, thereby consolidating control.

          Argentina, Zimbabwe, Greece.

          And scores of other countries have experienced it first-hand.

          Banks do near zero physical labor, lend phantom digits that they have convinced the public is “money” that belongs to the bank and that the public must trade actual labor for. A wicked lie.

          Yes is could happen here – it IS happening here, if you do not get educated on how debt money works, you will not even know what’s wrong, let alone how to fix it. Their robbery will be near effortless.

          The “too much money” lie can be easily understood once you understand what happens to principal payments when a loan payment is made. They are EXTINGUISHED from circulation.

          So, everyone who made a payment on a mortgage, a car, a student loan, a credit card or other loan – the principal amount of their payment has been written off the books as “paid”. It entered the system as a loan and it got zeroed out when payment was made. Gone. It no longer exists in the system. You can’t “work” for it – it no longer exists. That means that the supply of (debt-based) money is not growing as fast as the debt. It’s not too much money but too much debt that is the problem. This truth is so simple that it repels the mind.

          If banks raise the interest rates “because there is too much money” or “they are printing too much money” – a really big lie – and they think that all that awful money in the system will lead to hyperinflation, the heightened interest rates get factored into the cost of doing business, not unlike higher fuel prices cause a general rise in prices. So “debt service” or interest due on debt causes the cost of doing business to rise. Prices rise along with the rise in interest rates – it’s a “cost of doing business”.

          If the banks tell a big enough lie and fully bring out the hyperinflation “boogie man” – the headlines will read something like, “Banks Raise Interest Rates to Unprecedented Levels to Combat Hyperinflation”. THAT will trigger hyperinflation – it’s a function of the banks raising rates. But NOT “too much money”.

          In fact, if money is “final payment” (as it should be, but now is not), then we have NO money in the system because all we have is debt, not final payment. There is NO SUCH THING AS DEBT FREE MONEY IN THE U.S. Someone may try to argue that coin is debt free, but you cannot buy any of it unless you use debt-based money. So, in the aggregate, the statement stands as true.

        • Peter

          An easy way to explain rising prices, due to money printing is simple. The nature of money is that it needs to be spent. It’s therefore demand. This new increased demand in the economy with the same amount of limited goods and services, pushes up the prices on everything that the new money finds it’s way into. This inflationary effect, will have a knock on effect as inflation is seen to rise (although, you won’t see inflation rising in the American CPI, since they re-weight the basket every so often to hide inflation,) and others start to increase their prices too.

    • Peter

      Not true Ben. Around the year 2001, the Fed was asking, “How do we get more people, who shouldn’t get homes, into them.” They then did away with the …what was it called, the Glass Eagle Act, or something similar, and repealed laws that would have prevented this banking crisis. They removed all the checks and balances… now we’re here. The Fed’s only role, should be as an inflation fighter. But, they now lie about inflation through weightings in the basket, which hides inflation. The conflict of interest is too great. They must have one mandate only. I don’t know what they think they’re measuring, but it’s not inflation.

  • I dunno. I am not impressed with this protest. It seems half-cocked. From my experience, New Yorkers are a pretty numb and lame lot. There is no underlying understanding of the problem I can rest steady upon. These people seem to have been brought together by forces they do not control.

    Are they dupes? That’s my crude -far-away- guess.

    The problem is not Wall Street, even though Wall Street is surely a problem. The problem is not the FED, even though the FED is more than problematic.

    The problem is complex systems cannot work -as planned- given human nature (greed, envy, avarice, lust etc.) dragging upon their efficacy. Human nature reduces the efficacy of complex systems to the point where they wind down and implode over time, guaranteed.

    The problem with the status quo today is, credit is being unequally and corruptly applied with government backed loans. These are back-door bank bailouts -and- theft from everyone else on less than equal footing.

    Credit allows for so many more opportunities for human nature to take hold of the otherwise noble intentions of those who think they have the intellectual presence about themselves to control the future. The problem is theirs. They over-estimate their competence. There is no such possible thing as controlling the future. One can -ultimately- only control a foe.

    Reality is infinitely complex. This is the most important knowable of all knowables available to us from which we must develop cogent thought. There are a precious few cogent thinkers today. We need to accept this fact, the infinite complexity of reality, every other step of the way along any rationally cogent process -that isn’t designed -just to fool us -or someone else.

    Pragmatic head-fakes do not make good reason. This is only dangerous thought.

    That infinite complexity is what those behind the scenes of this protest are all about. They know, the infinite complexity of reality will favor their desired outcome, exactly because, they know this protest is not what it is being made out to be. They have forced this to happen on their terms.

    It may look like an out-of-control anarchy. But it has every appearance to me of being very well planned far in advance. These are very old government tools.

    The best rational mode is not just non-violent. The best mode is total inaction. Stop buying. Stop participating. And stop supporting the insanity being staged from behind the curtain, even if it appears to be raging at what goes on behind the curtain. In reality, we cannot see behind the curtain, and THOSE WHO ARE BEHIND THE CURTAIN are very clever, well funded -and likely- in complete control.

    False flags can take many forms, -including wooden horses.

    Right now, there seems no doubt there will be a change of government next year.

    Right now, those in power are doing everything in their power to change that prospect.

    Here’s a brand new painting entitled, Camille Franck, The Local Irritant in Limestone, Maine.

    Don Robertson
    Limestone, Maine





  • FED Protest in STL calling all Tea Partiers

  • American Pendulum

    I see only one dangerous outcome from this:

    The potential that an even more centralized system will evolve from the ashes of the FED; an international version of the Fed (although it could be argued we already are seeing this).

    Just a thought.

    • Bev

      We keep our sovereignty with Dennis Kucinich’s NEED Act, the National Emergency Employment Defense Act, which puts the FED under Government control to issue Money DEBT FREE to spend on jobs, infrastructure, health, education.

      Any Debt Based Currency will not get us out of our problem of too much Debt. Only a No Debt currency can get us out of our Debt.

      Bankers will push the Deflation/Inflation/Hyperinflation on us until they own everything. I like Kucinich’s attempt to benefit people by taking it away from banks, and away from the FED. Support and Protect Dennis Kucinich.

      January 17, 2009

      Hyperinflation and Zimbabwe – Myth, Misinformation and the “Expert”

      The True Cause of Zimbabwe’s Hyperinflation

      Austrians say the problem is too much paper.

      Keynesians say the government should spend more.

      Neither camp has a solid grasp on the effects of interest and both groups are in denial, when it comes to fully understanding debt.

In fact, in macroeconomic terms, you can hardly find a model that illustrates this: the money needed to pay interest is never created inside the system and that principal is extinguished from circulation when a payment of principal is made.

      The more you learn about how it really works, who the “experts” are following, why they are following the wrong explanation, how old that theory is and who benefits from its propagation, the easier it is to realize why they can’t figure it out.


      Hyperinflation is not caused by paper money. It is not caused by too much money. It is caused by unpayable interest rates.

      Fact: Interest Rates in Zimbabwe were 800% in 2007
Fact: The Overnight Rate Charged By Zimbabwe’s Reserve Bank is 10,000%

      Fact: The 91 Day T-Bill is at an interest rate of 66.33%

      Fact: Their Government has to hike taxes to pay the T-Bill rate at its maturity. Taxes up to 79%!

      Fact: Unemployment in Zimbabwe is at 85% and HERE

QUESTION: If you’re a shopkeeper and you have a loan at an interest rate of 800% and your taxes are nearly 64% (plus a 15% “value added tax” for a total of 79%) of your income, do you think that you will have to raise your prices to stay in business?

      ANSWER: Yes. Daily.

      QUESTION: Why is this happening? Is someone manipulating their interest rates, causing economic chaos because they want Zimbabwe’s gold, platinum and diamonds?


      Gold surrendered to a single company – find out who.

      Manipulate, collapse, take.

      ANSWER: Ya think?

      The Reserve Bank of Zimbabwe is refusing to pay for gold deliveries.

      Most of the gold mines have collapsed.

      Investment banks are buying up the mines at pennies on the dollar.

      This did not happen to Zimbabwe because they did not have enough gold.

      This did not happen to Zimbabwe because they did not have enough natural resources.

This did not happen to Zimbabwe because the government spent too little.

This did not happen to Zimbabwe because they had too much paper money.

This happened because they had too much debt and the unpayable interest is destroying them.

Say, aren’t the people dependent on bank loans for a medium of exchange and don’t the banks set the interest rates on their loaned money?

      When the banks hike the interest rates to manipulate the money supply to the point that only 15% of the people can work, the medium of exchange is destroyed and the banks end up with the gold, is that financial terrorism?

They Did What?

      The correct fix:

      • Peter

        Some of your economic concepts are off…
        I’ll give you a clue on one…

        NEWS FLASH:

        Hyperinflation is not caused by paper money. Peter: Yes it is. It is not caused by too much money. It is caused by unpayable interest rates.
 Nonesense, it’s a side-effect, it’s not the cause. High interest rates where caused by a lack of confidence in the economy, nobody was willing to lend money any more to the government, and the government was so desperate to get their hands on cash, investors were only willing to lend them money at 800% interest. Now, in order for government to pay this money back, because they never had it in the first place, they started printing money. This led to inflation in the economy and people started demanding higher interest rates because of the higher inflation… it was a vicious circle. The bond market, will also set interest rates in the market, despite what a reserve bank sets interest rates at the bank lending window at.

        Sounds like you’re still in Zimbabwe… what’s the point? Get out, leave.

        Fact: Interest Rates in Zimbabwe were 800% in 2007
Fact: The Overnight Rate Charged By Zimbabwe’s Reserve Bank is 10,000%

        Fact: The 91 Day T-Bill is at an interest rate of 66.33%

        Fact: Their Government has to hike taxes to pay the T-Bill rate at its maturity. Taxes up to 79%!

        Fact: Unemployment in Zimbabwe is at 85% and HERE

  • bouletheou


    The only thing worse than giving the banksters control of the issuance of our money is to give it to politicians that have to be re-elected every few years and could not resist the temptation to give away the candy store to bribe the voters. The economic history of Argentina demonstrates this point admirably.


    • Bev

      Argentina was ruined by a Private Bank’s CREDIT/DEBT Money, NOT Public/Government DEBT FREE Money.

  • omni737

    History repeats itself in America. It is 1775 all over again and next year will be 1776. Americans have become slaves to rampant executive and Wall Street greed. Those that have become rich through honest and hard work are not to blame. It is those (mainly 100% of Wall Street) that have done it through theft, bribery and other unlawful means while the patsies in Washington falsely believe they can control the people (especially when the number of armed citizens outnumbers the police and military combined by almost 20-to-1).

    The America we have known for the last 40 years is coming to an end (and I believe it will be a violent one because the greed, corruption, hubris and feeling of invincibility is too deep among the elite and they will do anthing to stop it) and a new, stronger America will be reborn.

    All Americans should be asking themselves why foreign workd leaders seem to be backing away from the US right now. They know how bad and corrupt this government has become and that a massive uprising is just around the corner. Just watch what happens as we slip into the next recession.