Alan Grayson asks the tough questions and doesn't let the worms off the hook until they actually answer his question. He's very skilled as a congressman and kudos to his intestinal fortitude! Great job Alan! Keep it up!
Well done Mr. Grayson, well done indeed. People love you, Ron and Dennis for being in support of truth/integrity. People will offer 100% support. I like your style as well !
again, this is amazing, Mr. Grayson is a MAN with guts, he have total acknowledgement of the subjects and he go after all important answers that he want to know. good work. go OBAMA
This man is beautiful. To finally hear the points of the debate, made like WE make them, represents U.S. in a way that should have been done in the Senate yesterday. And everywhere in the media. I hope the Dems do as suggested and get more like him on camera.
I've never heard of Grayson until Matt Taibbi linked me to this video. But I think our government definitely needs one or two more people like this. At least he has a backbone. There's a time and place for decorum, and there's a time and place where you throw it out the window and get down to the real heart of the matter. Much respect for Rep. Grayson.
(contd 2) ... able to question people using your unique demeanor: .. NO POSING... no fake outrage... no grandstanding ... no idiotic questions of the like that prove other Congress-people to be out of their depth, yet they feel entitled to ask useless questions... but most impt your poise and poker face in handling these Wall Street high-price rascals. They are so used to running circles around Congressional incompetents, it is a delight to see you acquire information, pre-empting their B.S.
Cooool, 5 whole minutes to get answers. That aughta fix things no problem. Oh shit, now there's a new 2 trillion dollar question. Alan, you get 5 more minutes
Its stupid how they allocated just 5 minutes for such important questions. All these trials I see ends up with time running out and the banksters getting their butts saved.
Thank you, Mr. Grayson. Please eliminate the quasi-governmental criminal behavior that has persisted for toooooooooooooo long. You have my vote in the future.
Quotation: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
He sure in the fuck did!!!!! The only thing that gives value to money is us. They print worthless pieces of paper. We hold the try power. But they are brilliant. I hate saying that, but fear is the second most powerful tool ever. Love being the first. The only way to win is to stand together and say"NO MORE!!! Namaste...
+Paul Hembree I think he might be just letting them know he's got their number, and he's enjoying it. He might even be seeing the humour in the sheer scale of the fraud that's going on. I feel the bloke is a fucking hero
@@Mannazify Exactly. The sad part is, none of this is real news. The headlines from the major news outlets are bullshit, what senator f-ed some broad in 1973, and how many more countries we're invaded. Not "hey, here's a government that's broken, bought and paid for, and you hard-working Americans? Here's more shit for you to eat..."
If Dr. Grayson is going to lead an investigation of the Fed he will need Secret Service protection. People who oppose the Fed sometimes die sooner than they should. We Need Grayson and we need him to be protected.
thanks, i didn't mean to sound so negative in my reply to you. And it's always amazing to see any level of graciousness at all in TH-cam comments -- so that is very cool of you to respond the way you did. I of course agree with you the whole system is rigged. I just admire Grayson's "float-like-a-butterfly, sting-like a bee" light approach. I'd never ever want to play poker with that man.
He's a democrat... not that I care particularly. I just want competence. Very interesting split: This would be the type of guy that the Tea-Partyers would supposedly like -- going after Wall Street abuse & taxpayer fraud. If you were to show this to them without identifying his State & Party, they'd cheer this. If you showed him as a Republican, they'd swap him for BECK as their new hero. Then if you disclose "he's really a Democrat" their heads would explode as they backtrack & trash him.
(cont'd 3) .. Though us CSPAN & TH-cam congressional testimony watchers are very familiar with you, & are grateful to you for the game-changing competence you bring to these congressional hearings into Wall Street manipulation & wealth transfer to the insider banks & Fed, it's frustrating to me as a citizen to know that YOU are still OFF THE RADAR of most Americans -- due directly to the Media Conglomerates' filtration of news. If EVERY American saw your Q&A's, we'd be putting people in jail.
Rep Grayson, you are frikkin' awesome. I know from your wikipedia profile you have been a successful entrepreneur before being elected to US Congress. The reason that is so critically important is (a) you are NOT a career politician, (b) you have created your own wealth and thus have no need for lobbyists to support you, thus enabling you to be beholden to no one, (c) you understand from difrect experience the mechanics of business & finances, and (d) THUS you are, unlike the rest of Congress..
That was frikkin' brilliant ... totally out of his league. The power brokers of America must be sweating every time they know Grayson is questioning one of their front-men. If anyone is going to pry a hole in the Matrix, exposing the whole parallel world of money flow, it's Grayson -- as others have proclaimed: THE NEW PERRY MASON.
abbesieyes, check the dates when Alan Grayson came to Congress. You;ll have to retract your statement. Besides, you must be a legend in your neighborhood with your cavalier use of language. Who's grandstanding?
3. Washington Mutual share price was taken down for several months prior to the seizure by illegal naked short sales, which SEC Chairman Christopher Cox failed to prevent. His July 2008 short sales ban list contained only 19 financial firms and only two of those (Fannie and Freddie) were in danger of being shorted at the time. The Office of Thrift Supervision was not responsible for seizing WaMu.
"President Garfield, SHORTLY BEFORE HIS ASSASSINATION, declared that whoever controls the supply of currency would control the business & activities of all the people. Thomas Jefferson warned us 100 years ago that a PRIVATE central bank issuing the public currency was a greater menace to the liberties of the people than a standing army." - Alfred Crozier to the Senate Banking & Currency Committee during the debate of the Federal Reserve Act. Think about it.
@florosmani...I agree with you on this one!!!! Mr Grayson is raw and striaght to the point on what he wants to know. I can identify with that. I loved how this attorney was walking on eggshells ensuring that he didn't put himself in checkmate so quickly.
what about the argument that IF indeed the fed's were front running? their intentions may be honorable if there are indeed doing whatever they can to keep it all from coming down. in hopes of the false economy eventually merging with the new economy.
@Ubob7 He knows exactly what the hell is does hence the type of questioning such as would he oppose Gold Audit, manipulate markets and front running. It's not hilarious, it's called being informed and being smart about how to bring things up
So who told you that Grayson is "out of office" ? What are you trying to say? He is making a lot of enemies, but that’s why we have people courageous like you to protect him. He is fighting for you. The FED is stealing the money from all of us and we all know and sit with the heads down in approval. At least he does something in an open, democratic process, within the legal frame that is still there (for now) We may not have this legal frame in the very near future.
Mr. Grayson is great! But we don't need to audit the FED, we need to outlaw it! The FED is an instrument which proved to be inefficient also, through the actions it took, enslaved the people of this country. The Government, not the private interests, should have authority to issue money covered by goods and services produced in this country.FED issues FED banknotes of debt, your dollar.The FED pockets the interest on those notes ,which normally should belong to the US treasury.
I still can't believe he was elected out of office. Need more congress people like him. Smart (intellectually sufficient to hang with people spewing financial mumbo jumbo), knowledgeable in key aspects (law, finance), and actually tough on institutions that engage in illegal or sketchy activity (instead of sucking up to them). Ron Paul (although much different in ideology) shares those same traits. These are traits people should truly be requiring of their elected officials.
@deeppurple28 Remember Madoff is a democrat. And try stating something based on actual information instead of senseless rants and insults. To illustrate the potential effects of tax rate cuts on tax revenues consider the example of Russia. Russia introduced a flat 13 percent personal income tax rate, replacing the three tiered, 12, 20 and 30 percent previous rates (as detailed in Ivanova, Keen and Klemm, 2005). The tax exempt income was also increased, further decreasing the tax burden.
I couldn't agree more. But the fact remains that Rep. Grayson needed to clarify what he means by "manipulating the market" as the witness requested. Does he mean to ask if the Fed trades stocks, long or short, in an effort to move a particular market or the market in general? Does he mean do they adjust interest rates in an *attempt* to move the market one way or another? Adjusting rates inevitably does have an effect on markets, of course. Is that what he meant by "manipulating'?
Rep. Grayson's unwillingness or inability to define what he means by "manipulating the market" by citing an example as requested by the witness shows the weakness of democratic government. So often I wince at the insipid questions asked by Congressmen at such hearings and wonder how such mediocre minds can get elected (or, in this case, can graduate from Harvard Law School. Mr. Alvarez could not answer such a question without clarification.
@uzimodem, "So many of them admire Mao, communism, Chavez, Castro' Uzi, NO! Both of these parties have been grapled and boarded by neocons and abed each others abuses while both of these new artificial 'factions' achieve the same ends. There is a natural political divide that is not your enemy, but the artificial one projects to both of these bases coming from the same neocon masters. I beg you to learn the real diff between real conservatives, liberals and big corp+big gov neocons.
@uzimodem, fine sir. I give up on you because you did not respect me enough to focus on one topic. I appreciated your navy service, but I spent 11 years in the air force myself. Grayson might be a liberal, but I think that true liberal and conservatives need not be enemies while neocon dems and repubs tear us apart. I meant no disrespect. Political diversity is a good thing, and I believe you have to look closer at those who need to 'purify' the ranks and divide us.
@hsacasa Legally, the fed is a privately RAN institution OWNED by the public. It's employees, board of govs, board of directors, FOMC, etc have to operate within the law dedicated by congress. President/senate decide the the 7 board of govs. Member banks decide 6 (3 bank reps, 3 non-bank reps) BOD's and the BOG's appoint the other 3 (public reps) BOD's. 6% of the profits go to member banks the rest to Treasury. It's private in the sense that it's politically independent.
@Qboy316 He took economics at Harvard, and actually worked as an economist after college for a while. The reason the Fed attorney had that "are you seriously asking me that" look on his face is because nobody has had the balls to question the corrupt practices of the Fed before. A small suggestion - before questioning a persons education by calling them an idiot, you may want to do some research on them first.
# Those responsible for the biggest banking heist in history should be in prison, including but not limited to the heads of the FDIC, OTC, OCC, SEC, JPM. Furthermore Killinger should be in prison for the mortgage fraud WaMu engaged in. # WaMu shareholders should be able to recover 100% of their lost investment due to the illegal seizure and WaMu fraud. JP Morgan and the FDIC should be sued.
A much more interesting question: Did some combination of political pressure and the Fed's mandate to maintain full employment drive them to keep interest rates too low? Probably. Would we be better of with a more formulaic approach to managing prices? This could be good in that will suffer less political influence, keep arbitrary power out of the hands of humans, and probably do a better job of maintaining price stability.
Yes, I completely agree. However the reps. question was like asking "is water wet?" In order to be a meaningful question it needed to be more specific and it wasn't. Possible better question: (1) Did the Fed ever manipulate the stock (or whatever) market in a way that could benefit specific parties? or (2) Did the Fed deliberately create an asset price bubble? And the answer is probably no.
Let's do audit the Fed, it would probably be a worthwhile activity, but: (1) Grayson has graduate or profession training in public policy and law, not economics. Trial lawyers aren't necessarily brilliant or knowledgeable about econ. (2) It seems unlikely that any one person could remember all the activities of the Fed. They are numerous and myriad. What do you think it means to "manipulate the stock market?"
The federal reserve's purpose is to adjust the money supply to achieve stable prices, which unavoidably effects all manner of economic activity, including the price of assets including the stock market. And that we all seem to agree is necessary. Grayson wasn't specific enough. He could have said "Does the Federal reserve directly purchase and sell assets in a particular market (eg. the stock market)?" And that would have made sense, and the answer would be no.
@uzimodem, as Julias Ceasar said: 'Divide et impera;... divide and conquer, to me you are one of the conquered because you were so easily divided. Ron Paul, Dennis Kucinich, and Alan Grayson might have different views in the 'old' system, yet they all realize that the 'new' danger makes them friends, albeit old world political opposites. ....and so should you.
Grayson is a simpleton bully - a mirror image of Hannity but with power to command answers to his insulting, leading questions The fed obviously impacts the stock market when adjusting the money supply. Using a term like "manipulate", or that baloney about "I think you know what I mean" (which can mean anything) is an age-olg old bully tactic.
WaMu shareholders should be able to recover 100% of their lost investment due to the illegal seizure and WaMu fraud. JP Morgan and the FDIC should be sued. Washington Mutual was NOT insolvent Blatant insider trading occurred prior to the seizure announcement, most likely involving the banking cartel and their hedge fund affiliates
# The Office of Thrift Supervision was not responsible for seizing WaMu. Although that is the official report, the fact is that Shelia Bair, head of the FDIC was responsible for forcing the OTS to seize WaMu. # To this day, the OTS, FDIC, OCC, nor any other agency responsible for wiping out WaMu shareholders has provided any evidence of any kind that WaMu was insolvent.
Now that's the way you are supposed to question a liar and a crook!! Al Grayson terrifies 'em with his razor sharp wit and questions! Thank you Mr. Grayson, I was beginning to think no one in Congress really had any brains or balls! Al Grayson has got pleny of both. Just the man we need in Washington! Big Al for US President 2012!
Great grilling...absolutely fantastic. This alvarez guy is so shaken up, he can't even look at Grayson as he stutters otu his lies. I just wish Grayson would drop the D from his political career and replace it with an I. Hopefully his defeat isn't the last we hear from this man.
@AxRhea88 I think the banksters who caused this meltdown SHOULD be sunject to hostile interrogation. When politely, 'professionally' asked questions, the banksters weasel. They should NOT be allowed to get away with their weaseling. The prospect of jail time will make these guys talk.
Yeah, between him and Anthony Weiner on health care they been fucking awesome! By the way, doesn't this exchange kind of remind you of a skit in "Familly Guy"? LOL, Just wonderin.
It is interesting to me that everytime Grayson has these schmucks on the ropes and has a chance of getting some real truth, he runs outta time. Give him the time Grayson needs to get the answers!!! The people will rise up and demand to stop this corruption!
for hugobossdb: I wonder who is the real ignorant here. Greyson is eating alive Mr. Alvarez. Go get them Champ! Yes, Alan Greyson is the Man! This is the kind of representation that the American people needs. Alan "Mr. Cojones" Greyson.
LMFAO!!! GO ALAN!!!! That has to be the funniest thing I have seen. Ole Alvy was squirming so bad and trying to hide what they do . Him sOOoooo Scared aren't you Alvy
I would love to know how many people have actually viewed this since the view count is obviously wrong! Its been at 305 since this video was 1st put up hours ago.
The fed is so complicated and so layered and has its tenticles in every level of business that they now hide behind a guise of complication. "Oh sir, we couldn't possibly answer your simple questions, we're just too complicated"
This is how our government is suppose to work. Ron Paul and Alan Grayson are in different parties but they are working together to get the job done of protecting the taxpayer, voter. Way to go Paul and Grayson.
I don't like everything Grayson stands for, but I truly enjoy his grilling the Fed to medium-rare and serving the Fed up with a side of fries. Awesome... Grayson is terrific in this role... truly a collector's item.
Alan, Great Job. Now if you'd only come around to the Libertarian way of thinking on other issues! I really appreciate your grilling of these dishonest assholes. Campaign controbutions are on the way!
this video title has the wrong angle! manipulate the stock? they were practicly designed to do that! what he should really be asking is what monitoring is going on here from an external party?
@hsacasa They are apart of the gov't. It's just they're independent. That doesn't mean they can do whatever the hell they want. There are still checks and balances and they have to abide by the law.
Alan Grayson is my congressman and I LOVE HIM! I am a republican and I disagree with some of his policies but he is one of the few honest men in Congress today. KEEP UP THE GOOD WORK, SIR!
I love the way Grayson smiles at him. He's like, "You can't fucking lie to me, bitch!! I'm Alan fucking Grayson!"
+FocusReborn I wish the guy could run for president
+Julian Park Well we have Bernie, who is just as good! :)
There isn't enough views of this video. Every single American in the country needs to watch this video.
They'd rather watch music videos and give them 2 billion views xD
tommytrojan09 I’m definitely hitting like to help this video reach others
@@MossadDid911 Thats the big problem
Alan Grayson, you're Americas REAL hero!
I love this guy. Man if we had more in congress like this man we would be a better nation. Instead we have a congress paid and bought by big money.
Mike Jacobs it’s the people that make the money. Not the people that want the most money
And in 2020 they bailed out the stock market by buying corporate bonds.
I wish more Democrats were more like Alan Grayson. That dude has some balls!!!
Go Grayson!!!
Alan Grayson asks the tough questions and doesn't let the worms off the hook until they actually answer his question. He's very skilled as a congressman and kudos to his intestinal fortitude! Great job Alan! Keep it up!
Well done Mr. Grayson, well done indeed.
People love you, Ron and Dennis for being in support of truth/integrity. People will offer 100% support. I like your style as well !
This is great Mr Alan Grayson. It's great seeing the People's Congress grilling these jerks. :)
He's got my vote.
Alan Grayson looks out for the people and small business not the huge companies like the republicans
Nov 2019 - Still no audit of the 'Private' Fed.
Grayson for President - ASAP!
HOW ABOUT NOW!
"The Dick Cheney Savings and Loan"....I likened their entire exchange to a cat playing with a mouse. This was priceless.
Alan is the real deal and he has fun at the same time because he knows they aren't better than him
again, this is amazing, Mr. Grayson is a MAN with guts, he have total acknowledgement of the subjects and he go after all important answers that he want to know. good work. go OBAMA
This man is beautiful. To finally hear the points of the debate, made like WE make them, represents U.S. in a way that should have been done in the Senate yesterday. And everywhere in the media. I hope the Dems do as suggested and get more like him on camera.
what the fuvk? Good job Congressman
I've never heard of Grayson until Matt Taibbi linked me to this video. But I think our government definitely needs one or two more people like this. At least he has a backbone.
There's a time and place for decorum, and there's a time and place where you throw it out the window and get down to the real heart of the matter.
Much respect for Rep. Grayson.
But I'm loving this maverick, good on him! Audit the Fed already.
HAHAHAHAHAHA -- I love it -- squirm, worm, squirm!
(contd 2) ... able to question people using your unique demeanor: .. NO POSING... no fake outrage... no grandstanding ... no idiotic questions of the like that prove other Congress-people to be out of their depth, yet they feel entitled to ask useless questions... but most impt your poise and poker face in handling these Wall Street high-price rascals.
They are so used to running circles around Congressional incompetents, it is a delight to see you acquire information, pre-empting their B.S.
He is so on point with his job and hasnt even been in there long...Love it!!!
Judgement day ... judgement day ... all injustices will be corrected.
Ge need more people like Grayson in congress.
i like to see this one before i go to bed. :)
powerhungry greedy men will always be in power. Good men like Alan grayson can try all they want to make change but its hopeless.
Haha! I have never seen a questioner under such pressure to not be in contempt in my life. Thanks Alan for being a backbone for all of us.
Keep up your great work Mr. Grayson.
Thank You
--
That was awesome! I'm going to go make popcorn and watch it again.
Cooool, 5 whole minutes to get answers. That aughta fix things no problem. Oh shit, now there's a new 2 trillion dollar question. Alan, you get 5 more minutes
Its stupid how they allocated just 5 minutes for such important questions. All these trials I see ends up with time running out and the banksters getting their butts saved.
There should be a date on the video so we don't waste time with outdated stuff.
could be yesterday, not really outdated
It’s still relevant, so you didn’t waste your time
Alan Grayson=American Patriot & horo!
Thank you, Mr. Grayson.
Please eliminate the quasi-governmental criminal behavior that has persisted for toooooooooooooo long.
You have my vote in the future.
This is awesome, the american people and the entire world deserve to know this stuff because the fed basically affects everyone in this planet.
I bought 1 shares of GME at 11:30 and got the ball rolling today
Quotation: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
The People's Champion Alan Greyson!
didnt this guy from the fed tell ron paul the fed hasnt had gold since 1930
He sure in the fuck did!!!!! The only thing that gives value to money is us. They print worthless pieces of paper. We hold the try power. But they are brilliant. I hate saying that, but fear is the second most powerful tool ever. Love being the first. The only way to win is to stand together and say"NO MORE!!! Namaste...
I like Grayson style but man that smile with a question, man its creepy
+Paul Hembree I think he might be just letting them know he's got their number, and he's enjoying it. He might even be seeing the humour in the sheer scale of the fraud that's going on. I feel the bloke is a fucking hero
i thought it was interesting tactic. it really got that wormy fed scared lol
It's a smile that says "You and I both know you're lying ; )"
@@Mannazify Exactly. The sad part is, none of this is real news. The headlines from the major news outlets are bullshit, what senator f-ed some broad in 1973, and how many more countries we're invaded. Not "hey, here's a government that's broken, bought and paid for, and you hard-working Americans? Here's more shit for you to eat..."
His expressions were priceless..
the more i learn about mr Greyson the more he impresses me. I sure would love to see him run for the presidency. wow!!!
Grayson is awesome! Great job!
If Dr. Grayson is going to lead an investigation of the Fed he will need Secret Service protection. People who oppose the Fed sometimes die sooner than they should.
We Need Grayson and we need him to be protected.
thanks, i didn't mean to sound so negative in my reply to you. And it's always amazing to see any level of graciousness at all in TH-cam comments -- so that is very cool of you to respond the way you did. I of course agree with you the whole system is rigged. I just admire Grayson's "float-like-a-butterfly, sting-like a bee" light approach. I'd never ever want to play poker with that man.
He's a democrat... not that I care particularly. I just want competence. Very interesting split: This would be the type of guy that the Tea-Partyers would supposedly like -- going after Wall Street abuse & taxpayer fraud. If you were to show this to them without identifying his State & Party, they'd cheer this. If you showed him as a Republican, they'd swap him for BECK as their new hero. Then if you disclose "he's really a Democrat" their heads would explode as they backtrack & trash him.
(cont'd 3) .. Though us CSPAN & TH-cam congressional testimony watchers are very familiar with you, & are grateful to you for the game-changing competence you bring to these congressional hearings into Wall Street manipulation & wealth transfer to the insider banks & Fed, it's frustrating to me as a citizen to know that YOU are still OFF THE RADAR of most Americans -- due directly to the Media Conglomerates' filtration of news. If EVERY American saw your Q&A's, we'd be putting people in jail.
Rep Grayson, you are frikkin' awesome. I know from your wikipedia profile you have been a successful entrepreneur before being elected to US Congress. The reason that is so critically important is (a) you are NOT a career politician, (b) you have created your own wealth and thus have no need for lobbyists to support you, thus enabling you to be beholden to no one, (c) you understand from difrect experience the mechanics of business & finances, and (d) THUS you are, unlike the rest of Congress..
Nice question, Beatrice Delgado.
That was frikkin' brilliant ... totally out of his league.
The power brokers of America must be sweating every time they know Grayson is questioning one of their front-men. If anyone is going to pry a hole in the Matrix, exposing the whole parallel world of money flow, it's Grayson -- as others have proclaimed: THE NEW PERRY MASON.
abbesieyes, check the dates when Alan Grayson came to Congress. You;ll have to retract your statement. Besides, you must be a legend in your neighborhood with your cavalier use of language. Who's grandstanding?
why the hell is he like the only person in that chamber? !
Thank You Rose! I didn't know abour HR 1207. I'll do research and keep tabs on what happens with HR 1207.
I want Congress to audit the Federal Reserve, also; and I believe under Romney/Ryan it will happen.
A pretty enlightening explanation of our monetary system is provided by the TH-cam video WHY WE ARE IN SO MUCH DEBT. Highly recommended viewing.
oh my god, this is the best new nickname of the year for ANYONE in politics:
The new PERRY MASON.
That is a genius observation :)
I that pencil-neck lawyer were a character in a Charles Dickens novel, he would be "the Artful Dodger".
3. Washington Mutual share price was taken down for several months prior to the seizure by illegal naked short sales, which SEC Chairman Christopher Cox failed to prevent. His July 2008 short sales ban list contained only 19 financial firms and only two of those (Fannie and Freddie) were in danger of being shorted at the time. The Office of Thrift Supervision was not responsible for seizing WaMu.
Re-watch, the video... Watch Alvarez's eyes. He can't even look at Grayson, a classic sign of lying through ones teeth!
"President Garfield, SHORTLY BEFORE HIS ASSASSINATION, declared that whoever controls the supply of currency would control the business & activities of all the people. Thomas Jefferson warned us 100 years ago that a PRIVATE central bank issuing the public currency was a greater menace to the liberties of the people than a standing army." - Alfred Crozier to the Senate Banking & Currency Committee during the debate of the Federal Reserve Act. Think about it.
what a fascinating lesson in grandstanding
@florosmani...I agree with you on this one!!!! Mr Grayson is raw and striaght to the point on what he wants to know. I can identify with that. I loved how this attorney was walking on eggshells ensuring that he didn't put himself in checkmate so quickly.
what about the argument that IF indeed the fed's were front running? their intentions may be honorable if there are indeed doing whatever they can to keep it all from coming down. in hopes of the false economy eventually merging with the new economy.
@Ubob7 He knows exactly what the hell is does hence the type of questioning such as would he oppose Gold Audit, manipulate markets and front running. It's not hilarious, it's called being informed and being smart about how to bring things up
So who told you that Grayson is "out of office" ?
What are you trying to say?
He is making a lot of enemies, but that’s why we have people courageous like you to protect him.
He is fighting for you. The FED is stealing the money from all of us and we all know and sit with the heads down in approval. At least he does something in an open, democratic process, within the legal frame that is still there (for now)
We may not have this legal frame in the very near future.
Mr. Grayson is great! But we don't need to audit the FED, we need to outlaw it!
The FED is an instrument which proved to be inefficient also, through the actions it took, enslaved the people of this country.
The Government, not the private interests, should have authority to issue money covered by goods and services produced in this country.FED issues FED banknotes of debt, your dollar.The FED pockets the interest on those notes ,which normally should belong to the US treasury.
I still can't believe he was elected out of office. Need more congress people like him.
Smart (intellectually sufficient to hang with people spewing financial mumbo jumbo), knowledgeable in key aspects (law, finance), and actually tough on institutions that engage in illegal or sketchy activity (instead of sucking up to them).
Ron Paul (although much different in ideology) shares those same traits.
These are traits people should truly be requiring of their elected officials.
@deeppurple28 Remember Madoff is a democrat. And try stating something based on actual information instead of senseless rants and insults. To illustrate the potential effects of tax rate cuts on tax revenues consider the example of Russia. Russia introduced a flat 13 percent personal income tax rate, replacing the three tiered, 12, 20 and 30 percent previous rates (as detailed in Ivanova, Keen and Klemm, 2005). The tax exempt income was also increased, further decreasing the tax burden.
I couldn't agree more. But the fact remains that Rep. Grayson needed to clarify what he means by "manipulating the market" as the witness requested. Does he mean to ask if the Fed trades stocks, long or short, in an effort to move a particular market or the market in general? Does he mean do they adjust interest rates in an *attempt* to move the market one way or another? Adjusting rates inevitably does have an effect on markets, of course. Is that what he meant by "manipulating'?
Rep. Grayson's unwillingness or inability to define what he means by "manipulating the market" by citing an example as requested by the witness shows the weakness of democratic government. So often I wince at the insipid questions asked by Congressmen at such hearings and wonder how such mediocre minds can get elected (or, in this case, can graduate from Harvard Law School. Mr. Alvarez could not answer such a question without clarification.
@uzimodem, "So many of them admire Mao, communism, Chavez, Castro' Uzi, NO! Both of these parties have been grapled and boarded by neocons and abed each others abuses while both of these new artificial 'factions' achieve the same ends. There is a natural political divide that is not your enemy, but the artificial one projects to both of these bases coming from the same neocon masters. I beg you to learn the real diff between real conservatives, liberals and big corp+big gov neocons.
@uzimodem, fine sir. I give up on you because you did not respect me enough to focus on one topic. I appreciated your navy service, but I spent 11 years in the air force myself. Grayson might be a liberal, but I think that true liberal and conservatives need not be enemies while neocon dems and repubs tear us apart. I meant no disrespect. Political diversity is a good thing, and I believe you have to look closer at those who need to 'purify' the ranks and divide us.
@hsacasa Legally, the fed is a privately RAN institution OWNED by the public. It's employees, board of govs, board of directors, FOMC, etc have to operate within the law dedicated by congress. President/senate decide the the 7 board of govs. Member banks decide 6 (3 bank reps, 3 non-bank reps) BOD's and the BOG's appoint the other 3 (public reps) BOD's. 6% of the profits go to member banks the rest to Treasury.
It's private in the sense that it's politically independent.
@Qboy316 He took economics at Harvard, and actually worked as an economist after college for a while. The reason the Fed attorney had that "are you seriously asking me that" look on his face is because nobody has had the balls to question the corrupt practices of the Fed before.
A small suggestion - before questioning a persons education by calling them an idiot, you may want to do some research on them first.
# Those responsible for the biggest banking heist in history should be in prison, including but not limited to the heads of the FDIC, OTC, OCC, SEC, JPM. Furthermore Killinger should be in prison for the mortgage fraud WaMu engaged in.
# WaMu shareholders should be able to recover 100% of their lost investment due to the illegal seizure and WaMu fraud. JP Morgan and the FDIC should be sued.
A much more interesting question: Did some combination of political pressure and the Fed's mandate to maintain full employment drive them to keep interest rates too low? Probably.
Would we be better of with a more formulaic approach to managing prices? This could be good in that will suffer less political influence, keep arbitrary power out of the hands of humans, and probably do a better job of maintaining price stability.
Yes, I completely agree.
However the reps. question was like asking "is water wet?" In order to be a meaningful question it needed to be more specific and it wasn't.
Possible better question:
(1) Did the Fed ever manipulate the stock (or whatever) market in a way that could benefit specific parties?
or
(2) Did the Fed deliberately create an asset price bubble?
And the answer is probably no.
Let's do audit the Fed, it would probably be a worthwhile activity, but:
(1) Grayson has graduate or profession training in public policy and law, not economics. Trial lawyers aren't necessarily brilliant or knowledgeable about econ.
(2) It seems unlikely that any one person could remember all the activities of the Fed. They are numerous and myriad.
What do you think it means to "manipulate the stock market?"
The federal reserve's purpose is to adjust the money supply to achieve stable prices, which unavoidably effects all manner of economic activity, including the price of assets including the stock market. And that we all seem to agree is necessary.
Grayson wasn't specific enough. He could have said "Does the Federal reserve directly purchase and sell assets in a particular market (eg. the stock market)?" And that would have made sense, and the answer would be no.
@uzimodem, as Julias Ceasar said: 'Divide et impera;... divide and conquer, to me you are one of the conquered because you were so easily divided. Ron Paul, Dennis Kucinich, and Alan Grayson might have different views in the 'old' system, yet they all realize that the 'new' danger makes them friends, albeit old world political opposites. ....and so should you.
Grayson is a simpleton bully - a mirror image of Hannity but with power to command answers to his insulting, leading questions The fed obviously impacts the stock market when adjusting the money supply. Using a term like "manipulate", or that baloney about "I think you know what I mean" (which can mean anything) is an age-olg old bully tactic.
WaMu shareholders should be able to recover 100% of their lost investment due to the illegal seizure and WaMu fraud. JP Morgan and the FDIC should be sued.
Washington Mutual was NOT insolvent
Blatant insider trading occurred prior to the seizure announcement, most likely involving the banking cartel and their hedge fund affiliates
# The Office of Thrift Supervision was not responsible for seizing WaMu. Although that is the official report, the fact is that Shelia Bair, head of the FDIC was responsible for forcing the OTS to seize WaMu.
# To this day, the OTS, FDIC, OCC, nor any other agency responsible for wiping out WaMu shareholders has provided any evidence of any kind that WaMu was insolvent.
Now that's the way you are supposed to question a liar and a crook!! Al Grayson terrifies 'em with his razor sharp wit and questions! Thank you Mr. Grayson, I was beginning to think no one in Congress really had any brains or balls! Al Grayson has got pleny of both.
Just the man we need in Washington!
Big Al for US President 2012!
If only more were like Alan we'd have that Cess pool in Washington cleaned up by now.
He's a stand up guy for sure.
Great grilling...absolutely fantastic. This alvarez guy is so shaken up, he can't even look at Grayson as he stutters otu his lies. I just wish Grayson would drop the D from his political career and replace it with an I. Hopefully his defeat isn't the last we hear from this man.
@AxRhea88 I think the banksters who caused this meltdown SHOULD be sunject to hostile interrogation. When politely, 'professionally' asked questions, the banksters weasel. They should NOT be allowed to get away with their weaseling. The prospect of jail time will make these guys talk.
Yeah, between him and Anthony Weiner on health care they been fucking awesome! By the way, doesn't this exchange kind of remind you of a skit in "Familly Guy"? LOL, Just wonderin.
It is interesting to me that everytime Grayson has these schmucks on the ropes and has a chance of getting some real truth, he runs outta time. Give him the time Grayson needs to get the answers!!! The people will rise up and demand to stop this corruption!
for hugobossdb: I wonder who is the real ignorant here. Greyson is eating alive Mr. Alvarez. Go get them Champ! Yes, Alan Greyson is the Man! This is the kind of representation that the American people needs. Alan "Mr. Cojones" Greyson.
LMFAO!!! GO ALAN!!!! That has to be the funniest thing I have seen. Ole Alvy was squirming so bad and trying to hide what they do . Him sOOoooo Scared aren't you Alvy
I would love to know how many people have actually viewed this since the view count is obviously wrong! Its been at 305 since this video was 1st put up hours ago.
The fed is so complicated and so layered and has its tenticles in every level of business that they now hide behind a guise of complication. "Oh sir, we couldn't possibly answer your simple questions, we're just too complicated"
This is how our government is suppose to work. Ron Paul and Alan Grayson are in different parties but they are working together to get the job done of protecting the taxpayer, voter. Way to go Paul and Grayson.
I don't like everything Grayson stands for, but I truly enjoy his grilling the Fed to medium-rare and serving the Fed up with a side of fries.
Awesome... Grayson is terrific in this role... truly a collector's item.
Alan,
Great Job. Now if you'd only come around to the Libertarian way of thinking on other issues!
I really appreciate your grilling of these dishonest assholes.
Campaign controbutions are on the way!
this video title has the wrong angle! manipulate the stock? they were practicly designed to do that! what he should really be asking is what monitoring is going on here from an external party?
@hsacasa They are apart of the gov't. It's just they're independent. That doesn't mean they can do whatever the hell they want. There are still checks and balances and they have to abide by the law.
Alan Grayson is my congressman and I LOVE HIM! I am a republican and I disagree with some of his policies but he is one of the few honest men in Congress today.
KEEP UP THE GOOD WORK, SIR!