Kucinich Puts Forth Bill That Seeks to End the Fed (VIDEO)

Former perennial democratic longshot presidential candidate and Congressmen Dennis Kucinich (D-OH) may have just given a jolt of Mountain Dew Code Red to Ron Paulites in his efforts to do what libertarians have tried endlessly to do: get rid of the Federal Reserve.

It seems National Emergency Employment Defense (NEED) Act of 2011 would finally put the stake in  the Federal Reserve–the  private, quasi-government cartel that controls the nation’s monetary policy, under control of the U.S. Treasury. Better yet, it seeks to implement new rules that seek to end the monstrous abuses by wall street and prevent another fiasco like in 2008.

Although a progressive, Kucinich is among many other progressive-minded officials (see Alan Grayson) are increasingly joining the likes of Ron Paul in seeing the Fed for what it’s really all about: an unconstitutional, oligarchic government-sanctioned cartel of former Wall Street insiders that pump out money to the 1 % and IMF, and inflate currency to Weimar Republic-like levels. It seems that the issue of the Federal Reserve creates political bedfellows in individuals who may ardently disagree about the size and scope of government, but who are ultimately principled and intellectually true to the ideals of their party. IE, Ron Paul and Dennis Kucinich.

Dare I suggest a political, ideological mind-fu#k in the creation of a Paul/Kucinich ticket?

Political fantasies aside, Paul and Kucinich have always agreed that action must be taken on the Fed, which was originally created by Congress in 1913 as a way of stabilizing the banking industry. It’s worked so wonderfully gosh darn’t!  But seriously, it has been a total fail and nothing short of institutional monetary manipulation by a group of bankers that work for oligarchs by oligarchs. Both Paul and Kucinich have vehemently called for audits of the Fed’s accounts, but Kucinich never appeared to go to such extremes as Paul in his hatred of the Fed. Not anymore.

“Ten million homes are in jeopardy,” said Kucinich in a YouTube video. 

“Fourteen million people out of work. Fifty million without health care. Endless wars. The Fed creates money out of nothing, gives it to banks, banks keep it on deposit, gain interest, pay high bonuses — fat city — while the rest of America falls apart. The Fed creates money out of nothing for the banks. Meanwhile, the rest of us have to be stuck in a debt-based economic system? I don’t think so.” 

Sharply and almost sarcastically concluding, “Now do you understand ‘Occupy Wall Street’?”

Analagous to what the depression-era and now repealed Glass-Steagall Act did in preventing commercial banks from getting into the business of risky investments, the NEED act strictly bars said activity and calls for “creation of money by private financial institutions as interest-bearing debts” to “cease once and for all.”

“This is the fundamental issue of our times: Who creates money, who gets it, and to what end,” Kucinich said. “The wealth of this nation is being accelerated to the top with the help of the Fed.”

I think it’s safe to say that the adorable Lorax of politics has caught onto one of the most important issue of out time, which will inevitably be blocked and defeated by Norquist’s anti-tax ‘freedom fighter’ Republicans in Congress.

Here’s the video:

Michael is a comedian/VO artist/Columnist extraordinaire, who co-wrote an award-nominated comedy, wrote for NY Times Laugh Lines, guest-blogged for Joe Biden, and writes a column for MSNBC.com affiliated Cagle. Follow him on Twitter and Facebook. Seriously, follow him or he’ll send you photos of Rush Limbaugh bending over in a thong.

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