For years, a few individuals have been consistently warning that the Federal Reserve is a highly suspicious organization with far too much power and zero accountability. They pointed out that ever since the Federal Reserve came into being (which was in 1913), the US Dollar had lost more than 95% of its value. Also, since then, the USA has been almost continuously embroiled in foreign wars, inequality has risen drastically, more and more power has gone to the banks (especially after every recession or depression) and the top 1% have become filthy rich at the expense of the rest of the population. These few courageous individuals who questioned the Fed’s role were branded as lunatics and conspiracy theorists. They were ignored by the mainstream completely, while the actions of the Fed were glorified. The ex-Chairman of the Fed, Alan Greenspan, even became a celebrity.
When Republican Congressman Ron Paul first sponsored a bill to audit the Federal Reserve in 1983, he had absolutely no support from both the Republicans and the Democrats. When he sponsored the same bill last year, there was widespread support for it from both parties. The partial audit of the Fed revealed that it had gifted $16 trillion to mega-banks both in the USA and overseas. I wonder what else a full-blown audit of the Fed would reveal.
Also, the USA’s constant meddling in the affairs of other countries is very worrisome. Most countries across the world are turning anti-American – this is especially true of the Middle-East, where the USA’s unwavering and even irrational support of Israel is rapidly alienating even their allies. The Iraq War was a fiasco, and despite tens of thousands of troops in Afghanistan, the fifty or so members of Al-Qaeda still elude them. The 900 plus bases all over the world also require high costs for upkeep – money that could be spent alleviating the poor.
Occupy Wall Street protests against the widespread macro-corruption found at the higher echelons of power in the USA. Widespread corporate cronyism and political lobbying over the decades have produced a nexus between politicians, Wall Street Banks, mega-corporations and the military-industrial complex. Everyday, politicians sell out to Big Business and other vested interests. The amount of corruption in corridors of power in Washington DC is mind-blowing.
Occupy Wall Street protesters want to end the Fed, bring the troops back, rein in Wall Street Banks, remove corruption in DC and reintroduce genuine people’s participation. Although I don’t agree with the protesters on social issues, their political grievances are perfectly understandable and I support their efforts.