More Power to You

Sent: Saturday, March 29, 2008 1:06 PM
Subject: More Power to You

For years all we heard that the Federal Reserve Board had Autonomy & was separate from the Federal Government. That is until I read in this morning’s newspaper that the Treasury Department proposes to overhaul the relationship between Wall Street and Washington. Reading, Riting, and Rithmatic to be replaced by Reshaping Regulatory Relationships.

This leads me to present to you a poem I wrote about twenty years ago after reading an account that the Federal Reserve was responsible for converting what would have been a serious recession after 1929 into a major catastrophe

by permitting the quantity of money to decline by one-third from 1929 to 1933, even though it had ample power to prevent the decline.
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The working class, we must profess,
remains the pawn of monetary chess.

Government statistics we all deplore,
intimidates, politically motivates, confuses our destiny and more.

Is there no escape from all this depression?
Are we to believe the answer is always Recession?

Our fiscal excesses to our Monetary Credit,
usually results in a Government Debit.

To cure, to cure, get us out of the Red.
Seriously, let’s Balance our Budget, by

Nationalizing the Fed!!
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To whom will they answer? What say you Congress?