Text Of Bushit's press conference....He actually SAID IT.........TWICE!!

quote.........
QUESTION: For the first time in years, interest rates are rising in the U.S., Europe and Japan at the same time. Is this a concern for you? And how much strain are higher interest rates placing on consumers and companies?

BUSH: First of all, interest rates are set by an independent organization of which ...

(CROSSTALK)

BUSH: Well, I'm not quite through with my answer yet. I'm kind of stalling for time here.

(LAUGHTER)

Interest rates are set by the independent organization. I can only tell you that the economy of the United States looks very strong. And the reason I say that is that projections for first quarter growth of this year look pretty decent.

end quote.....
How many Americans know this? I couldn't believe he said it. An 'Independent organization' controls everything is US??????? I'm sure the Federal Reserve and our CFR buddies are happy the now everyone has been told this by *
http://www.signonsandiego.com/news/nation/20060321-0929-bush-text.html

Bryant
Check it out --> http://politicalcomment.blogspot.com

monkey with the rate to improve the economy so he could win reelection, and Greenspan refused....Bush #1 still blames Greenspan, in part, for losing that election...

From wikipedia's Fed page:

Theoretically, it's independent, but not in practice. It's very aware of the politics which surround it.

But yes, it was the Fed to which Bush referred.

wasn't really that far off the mark.

Judicial canons require avoiding anything that even leaves an impression that there could be a conflict of interest - this cabal doesn't seem to mind the stench of it at all.

Maybe, since people are willing to spend $200,000,000 to get elected to a job that pays $200,000 a year - maybe they'd be willing to just donate all their assets to a charity upon taking the oath of office - they can earn it all back with speaking fees after their term anyhow.

The Prezes annual income is $400,000!

Maybe he means the "Zionists".:eyes: Who the hell knows? He sure doesn't.

I've just never heard anyone describe it in such vague terms before.

On edit: And I'm sure most people on this board are quite aware of the fact that the Federal Reserve sets interest rates.

Most people labor under the misconception that the Federal Reserve is part of the federal government, which isn't exactly the case, as my post from wikipedia above shows.

...the parts of Bush's statement where he referred to this cryptic "independent organization", so I assume that that is what the OP is referring to. I think most people here are wondering why he didn't just say the Federal Reserve. Maybe he forgot what it was called. Wouldn't be surprising at all. You seem to be assuming that everyone here is as clueless as he is.

I don't assume that. But I can't assume that the several people who asked what "independent organization" he was referring to are being facetious, either.

We do that here all the time where Bush is concerned.

That's a pretty obvious indicator.

It sets the discount rate that banks get charged by the federal government to borrow money, as I understand it. That's not exactly the same thing as dictating that all savings accounts deposited in banks will get 6% interest, for instance.

"Independent" of, say, Britain. You know, like how we fought them for independence, that kind.

Who do you think are the FEDS.The Bank Of England ......maybe??

I'm sure they are all pretty pissed off about it.

for quite some time now I have been absolutely convinced that they really, really R making this shit up as they go along...especially the stuff that happens outside the neo-con redprint, i.e. Katrina.

Too bad there are not follow up questions - I'd love 2 know the name of that 'independent organization' he just can't quite name.

How many brain cells do you figure R still capable of firing?

"Privately Owned Bank, not U.S. Government" or would that get you sent to Gitmo?

Still, proving who did it would be impossible, so it doesn't really matter.

United States Code
TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
PART I - CRIMES
CHAPTER 17 - COINS AND CURRENCY
§ 333. Mutilation of national bank obligations

“Whoever mutilates, cuts, defaces, disfigures, or perforates, or
unites or cements together, or does any other thing to any bank bill,
draft, note, or other evidence of debt issued by any national banking
association, or Federal Reserve bank, or the Federal Reserve System,
with intent to render such bank bill, draft, note, or other evidence
of debt unfit to be reissued, shall be fined under this title or
imprisoned not more than six months, or both.”
http://answers.google.com/answers/threadview?id=426715

note from trof: Unless "they" can prove your "intent" was to render the currency unfit to be reissued, I'd think you can write any damn thing you want to on a bill, including "Impeach Bush".
:-)

I think most people think the banks would set the rates indepedently if there was no fed. THe fed actually simplifies the interest rate setting between the commercial banks which stabilizes overall interest rates to the consumer.

It's not a bad thing. Greenspan just did some stupid things and overcontrolled the system, but it's not inherently bad for consumers or business.
The Professor

there is a great article about it here: http://libertyunbound.com/archive/2004_10/woolsey-fed.html

Be warned, it is written by a libertarian, but it is pretty accurate and informative.

Another that has been mentioned above is, "What's the name of that thing again?" :D

ONE thing ( he was saying) you can't blame on me!!!!

Just because it has "Federal" in the title, people don't realize it's a privately owned company.

The answer to who owns the Fed and by proxy the entire USA:

Rothschild Banks of London and Berlin
Lazard Brothers Bank of Paris
Israel Moses Sieff Banks of Italy
Warburg Bank of Hamburg and Amsterdam
Lehman Brothers Bank of New York
Kuhn Loeb Bank of New York
Chase Manhattan Bank of New York
Goldman Sachs Bank of New York.

In The Secrets Of The Federal Reserve, Eustace Mullins indicates that, because the Federal Reserve Bank of New York sets interest rates and controls the daily supply and price of currency throughout the U.S., the owners of that bank are the real directors of the entire system. Mullins states:

"The shareholders of these banks which own the stock of the Federal Reserve Bank of New York are the people who have controlled our political and economic destinies since 1914.

They are the Rothschilds,
Lazard Freres (Eugene Mayer),
Israel Sieff,
Kuhn Loeb Company,
Warburg Company,
Lehman Brothers,
Goldman Sachs,
the Rockefeller family, and the
J.P. Morgan interests."


Also, further down on the chain, old Bush family friends:
Allen Dulles John Foster Dulles
Sullivan & Cromwell Sullivan & Cromwell
Director - CIA U. S. Secretary of State

Did you know that JFK wanted to do this?
On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous. <http://www.john-f-kennedy.net/executiveorder11110.htm>

in the Federal Reserve Bank of their local district (in that case, the 2nd, headquartered in NY) but every bank in the United States owns shares in their local federal reserve bank, they cannot buy, sell or trade those shares, they are collateral from the Fed for the required security deposit that all banks must make in the Fed system, which does not pay interest.

No wonder he didn't finish his term.

Smash the Cia to "smithereens" what an asshole!

:(

How, of course, is up to the US of A.

and running the gov't like a business? Yet he has no clue about economics and has an MBA?

:wtf:

The U.S. Government being no exception.