A debate on CNBC between Steve Liesman and Trish Regan on the one side and Rick Santelli on the other was regarding the audit of the Fed sponsored by Ron Paul. If you are an American patriot you will support the audit of the Fed. The Federal Reserve is a private bank that has no authority in the constitution. The Founding Fathers fought to establish freedom from the private Bank of England that put them in debt. Sound familiar? How much debt did our current Fed allow when they looked the other way when ponzi housing off balance sheet banking was brought from Basel 2, home of the central banks like the Fed, to our shores?

The Fed is a traitorous organization. The Fed is against the interests of the people of the United States. Liesman and Regan are lapdogs of the Fed and support the secrecy by which the Fed operates. Congress has the right to regulate and look into every action of the Fed. Alexander Hamilton wanted a private bank and wanted the US government to give favorable treatment to a few. This mercantilism continues today as George Bush and Barak Obama seek to please the Federal Reserve bank. This is traitorous behavior.

Indeed, Andrew Jackson, at the risk of his own life, kicked out the Second National Bank and we were as a nation free of private central banks for 70 years. I would suggest that Andrew Jackson was an American patriotic hero and George Bush and Barak Obama are not heroes, nor are they American patriots.

And Steve Liesman and Trish Regan are kissing the asses of these non heroes who seek to favor a few, like Goldman Sachs. Indeed, Alexander Hamilton would have been president of Goldman Sachs!

It is time this disgusting mercantilism be viewed for what it really is, an attack on the average Joe. It is time the American people study and bone up on this fraud that continues to attack you! Historically, mercantilism was an aggressive foreign trade coupled with protectionism.

The new mercantilism of today has elements of these but also has the most important element, the favoring of certain businesses by government. It is that favoring of Wall Street over main street that is the most disgusting application of a philosophy we thought was pretty much dead. But favoritism, a New Mercantilism, is far from dead. The new war the mercantilists are waging is against main street and the middle class!

The ultra federalism of Hamilton sought war and expansionism. We are doing this through the neocons who still dominate the Obama adminstration and were brought to power by Bush/Cheney. These are criminal warmongers who want increased debt upon the American people. They even want to increase the debt of the Chinese. Wall Street wants to sell credit cards to the Chinese and make them into consumers instead of savers. Wall Street is the favorite of this government and has shamefully scammed the US citizens with liar loans and usurious credit card rates. The private Federal Reserve Bank is key to this mercantile predatory activity.

I want independence from the Federal Reserve Bank! We are being robbed as a nation by the Federal Reserve Bank and Steve Liesman of CNBC is fretting over the Fed losing its independence! This is so upside down and backwords that it is time we as a nation started thinking differently and outside the box.

Clearly, Tim Geithner is like a mole, who has been placed by the Fed in the position of Treasury Secretary where he can rob US citizens blind to bail out the Fed's pets, hedge funds and Goldman Sachs. Tim Geithner is giving another bailout, the third one, to GMAC without the bondholders of GMAC taking a haircut. You know why? It is because all the big financial institutions' bonds are levered up by the hedge funds. The hedge fund puts a dollar of wealthy investor money into a bond along with 9 dollars that are borrowed. That fund is levered to the bonds and if the bonds take a hit that gives the hedge funds a multiplier loss.

So that is what this is all about, Geithner protecting the hedge funds and the Federal Reserve Bank cronies. This is cronyism magnified to absurdity. Steve Liesman is an absurdity for even thinking that the Federal Reserve Bank even deserves to be independent.

Until the United States government kicks out the moles of the Fed, like Geithner who was president of the New York Fed before becoming treasury secretary, and Larry Summers, who is President Obama's main economic advisor and a hedge fund patsy, we will never be free of this theft!

Add to all this theft by the Fed and the Treasury Department, the asset bubbles being blown by the Fed as they let the dollar tank and we have a massive rip off of the American consumer/taxpayer. Any good bond trader, like Rick Santelli of CNBC, can tell you that the  savers in this country are getting ripped off by low yields with the bond bubble in price that exists. You have Steve Liesman, the Fed's man on CNBC defending the tanking of the dollar as being no concern of the Fed. Sorry, but that is wrong, wrong, wrong! We need real economic growth, not asset and debt deflation that will make the US even poorer in the long run. If you think that asset inflation is not important then read what I wrote here.  

The US government, if they are going to bail out GMAC and all these financial institutions should take an interest in the companies they are bailing out. They should take senior position ahead of these hedge fund bond holders, so that they can retrieve the US taxpayer money. But we know that Geithner has protected all the financial institutions without making them make any sacrifice or their lenders (bondholders) making any sacrifice. It is a disgusting and vile policy. It is not what we voted for when we voted for Obama.

Many Americans have been diverted by pay packages of companies controlled by the government. While I am for limiting the obscene pay of American CEO's across the board (most countries don't have the massive greed US ceo's have) it is not the biggest issue. The two biggest thefts by Wall Street continue to be the bailouts and the low interest rates that the average investors receive due to the need for banks to have easy money. The Fed orchestrates all of this.

On a related issue, Barney Frank has a bill to cause the too big to fail banks to be unwound because the government knows that the taxpayer is raging mad. And the Republicans, who are in as deep or deeper than the Democrats in this fraud won't even support the measure. What is wrong with these people. I am not talking about the Ron Paul Republicans. We will see how this tiny minority will support bank unwinding.

The only thing that I don't like about these unwindings is that leeches like Goldman Sachs make money on the fees generated by prepackaged bankruptcies. I hope they wouldn't take their pound of flesh if these banks were ever unwound. That just wouldn't be right.

Update on Barney Frank Issue: Unless the plan has a provision for allowing bondholders to take a financial haircut to share in the pain of the unwinding of too big to fail banks, the plan is not fair to other banks or to the taxpayers. I will find out more as this progresses. Here are the FDIC Chairman's criticisms of the bill.

New Update: Apparently the new plan by Barney Frank protects the creditors, and keeps the taxpayer on the hook first. THIS IS UNACCEPTABLE BARNEY!!! Even Robert Reich, a Democrat, is against this bill