New federal agency OFR stirs 'Orwellian' fears

[Packman73]

New federal agency OFR stirs 'Orwellian' fears (http://www.foxnews.com/politics/2012/04/19/new-federal-agency-ofr-stirs-orwellian-fears/)


OFR was invested with virtually unlimited subpoena power. It can compel just about any company in America to turn over to the federal government sensitive internal data, even proprietary information.


“We're only going to be collecting the data that we absolutely need, to fulfill our mission,” testified Michele Shannon, the new agency’s chief operating officer.
:rolleyes:
Scared yet?

[obucina]

oh cool, more Central Bank power...awesome. I warned my libtard friend about this after the bill was passed....apparently I was being an ideologue.

If I'm not mistaken, the architects of the bill are from the New School in Greenwich Village. This rocket surgeon is a big supporter of the Dodd/Frank Bill:
http://www.newschool.edu/nssr/newslist.aspx?id=18826

[Moose-Knuckle]

You haven't seen anything yet kids. . . :help:

[VooDoo6Actual]

Oh boy oh boy ......
Just what country needs to raise it from the depths of despair

[Pork Chop]

Man I'm getting sick of this shit. It's becoming almost weekly.

Can't wait to see what's next..........:rolleyes:

[Packman73]

This agency is funded directly from the FED; what I want to know is why this agency is not funded by Congress?

[obucina]

This agency is funded directly from the FED; what I want to know is why this agency is not funded by Congress?


from what I have read, even some prominent members of the FED want nothing to do with this agency and have publicly commented that the FED wasn't "designed" to do stuff like this.

[TAZ]

This agency is funded directly from the FED; what I want to know is why this agency is not funded by Congress?

My guess here is because the people who wanted to create this organization wanted to insure that the funding and power of the group would not be limited by silly things like a Constitution or be accountable to anyone other than the PTB. Can't have the silly peasants electing reps that would strike the funding for this new wonder agency now can we?

If I'm understanding this correctly; this new agency, created by the rump ranger whose financial shenanigans probably played a key role in bursting the bubble to begin with, will
have the power place limitless taxes upon American businesses without representation. They will be able to subpoena any information they want up to and including proprietary stuff (presumably under the Feds oversight). They will of course keep all this information safe and not share it with their friends or investors. Right

Let's see. Countries are generally controlled by the flow of money. Here in the US we have to some level of success kept that flow as privatized as possible. The level of success is questionable but still better than most. Now we have an agency that can take away both money and the ability to make money (distribution of trade secrets and proprietary info) from private enterprises. Essentially the control over the flow of money has been handed over to a third party not beholden to any elected official, just a private bank aka the Federal Reserve. HMMM I don't see this turning out well in the long run.

Wonder how long it's going to be before the OFR decides that it's not in the nations economic interest that Apple is the only one making great profits form iPads or iPhones and that Billy Joe Bob (whose CEO happens to be friends with Bernanke) should be able to have a piece of that pie as well.

[Packman73]

I agree TAZ. I should have asked 'how' instead of 'why.'

So let's see; we have:
unlimited subpoena power
unlimited budget
limited (if any) Congressional control

Is the Constitution dying?

[Moose-Knuckle]

And remember kids the Fed is not the "bank of the United States", it is a private corporation. :ph34r:

[SMETNA]

Secession

[Abraxas]

And remember kids the Fed is not the "bank of the United States", it is a private corporation. :ph34r:

If you really want to know something great, there is a Federal Reserve Police that is funded by the FED, yet has full police powers from the government. They are armed to the teeth. So you have a privately funded agency with Fed LE authority. I know someone who applied to them.