stabilize pricing (stabilize the coin of the realm) and try to maintain full employment.
When you look at the track record of the Fed you would never believe that this was the mandate. 95% of the value of the currency is gone in the first 100 years of the fed. Unemployment is closer to 30% not the official 7-8% claimed by government statisticians.
There has been numerous recessions, one great depression and a couple of bouts of inflation. In today’s vernacular, inflation has been replaced by “bubbles” or “Irrational Exuberance”. This does not consider Nixon’s 1971 action to end the convertibility of the dollar into gold. History does not look favorably on the Fed’s track record.
The Fed, in order to get it’s monopoly over currency creation, argued that it is a better custodian than a government motivated by political interests. For 100 years it has tried to disguise the fact that it is not an agency of the government, but is really a private corporation. As such it is immune from audits, and does not need to inform the public of it’s actions. It prints the currency and then charges the government interest on the created debt. It is a tax exempt corporation , as are churches.
It has manipulated the educational system, and in particular, Business Schools to make itself appear benign and non relevant.
Assume for the moment, that the Fed is, in reality, a MAFIA. Anyone who steps on their turf, meets an untimely death, or, in less severe circumstances loss of employment or marginalization. For example, President Lincoln, President Jackson, President
Garfield, President McKinley. These heroes, interfered with earlier versions of the current Federal Reserve System. Victims of the current system includes Senator McFadden and JFK. Why, such extreme measures? Quite simply, this is the
biggest and most powerful Ponzi scheme on the planet. It is a way to enslave all people living under a privately controlled central banking system without their knowledge. Ingenious, really, there is no direct transaction between the Fed and the public. The IRS is it’s enforcer and all transfers are between the Federal Government and the Fed. In this manner, the Fed acts in a stealth like manner. This system supports a parasitic super class, with the wealth and power to control and manipulate economies, government policy and ultimately, the planet, through greed and corruption.
efforts of Ron Paul to educate them. If you are a politician, and try to make this an election issue, you are marginalized into obscurity, or have your campaign and or reputation marred by a manufactured scandal. When Eliot Spitzer tried to attack the bankers, look at what happened. It is almost beyond comprehension that this 800 pound elephant in the room is ignored, even though it is the biggest and most influential economic and political player in the economy of the United States. It shows how powerful a tool media is in hyping or hiding information. The public is further distracted away from understanding economics
when they are told that it is too difficult for the average person to understand. Really, then I recommend this video which makes it very simple and easy to digest in just a few minutes of your time.
official mandate. The real mandate is to “EXPAND THE DEMAND FOR MONEY AND CREDIT THROUGHOUT THE ENTIRE ECONOMY AND GOVERNMENT, THEN USE THIS AS A PLATFORM TO TAKE CONTROL OF THE COUNTRY”. Remember, the Federal Reserve shares are held by large banks, so it is not just acting in the interests of the Fed alone that matters ,but acting in the interests of the big banks as well. Quite simply, if you have no debt, you are in control of your destiny; if you are in debt
the debtor controls you. It is the DEBTOR who controls the government and not you, particularly if the debtor has finances political campaigns.
If you have any doubts about the power of this banking class. Consider the fraud of rating agencies, Wall Street investment banks and large banks themselves engaged in fraudulent mortgage scams, front running clients with flash trading models etc. Not one has gone to jail and as Lloyd Blankfein stated, they continue to do God’s work. These folks created the crisis and were rewarded by the Frank and Dodd legislation giving them more power over the economy.
For example, in 1929 as today the public and corporations were heavily indebted to bankers. Bankers have the power to create money, control borrowing and manipulate interest rates. Using these levers they forewarned insiders of higher rates and
restive lending practices, then pulled the plug on the economy. Insiders like Joseph Kennedy got out of the market just in time. Farmers and homeowners and many unfortunate corporations had loans called in and were financially destroyed.
The big winners, need I remind you, were the bankers.
We are in the middle of another manufactured financial crisis, and thanks again, to the Federal Reserve that will be much worse than 1929. As in 1929 there will be only one winner and it will not be you. This time Americans will lose all remaining
wealth, with the exception of their wide screen tv’s, as well as their country plus any remaining vestiges or freedom. Ben and Alan knew the correct policies to follow to muddle through the current mess, but, they were morally compromised and restrained with golden handcuffs. They were simply the public persona to add credibility for the bankers behind the curtain. Once again, the dumbed down American public is duped by the same strategy that has served the bankers well for 100 years; maintain the same policies in play but keep changing the public faces; promising “hope and change”. Where have we heard this before.