Every function of the Federal Reserve can be accomplished without a Federal Reserve. Why then, do we have one? For precisely one reason. To enrich the few at the expense of the many.Does it seem to you that you are one of the many at whose expense the rich are getting richer? Your mind is not playing tricks on you. The Federal Reserve is the primary cause of this phenomenon.
According to Investopedia:
the Fed's job is to foster a sound banking system and a healthy economy.Wow. They pretty much suck at their job, don't they?
Investopedia continues:
The biggest customer of the Federal Reserve is one of the largest spenders in the world - the U.S. government.So, the Fed provides its services for free, right? Nope. Every dollar that the Federal Reserve loans to the United States government comes with a price. It's called interest. In other words, every dollar that is loaned by the Federal Reserve to the United States government must be paid back with interest. Based on this paradigm, America as a whole cannot help but become poorer.
Did you realize that a substantial portion of the trillions of dollars in U.S. debt is interest that we owe to a private bank? It wasn't always this way.
The Federal Reserve was not the first private central bank in American history. Several times throughout American history, private financeers have convinced the Federal Government that America would be better off if a private bank regulated the country's money supply. Every time a central bank achieved power in America, runaway inflation, along with boom and bust cycles have occurred. In reality, the only ones who really benefit from a private central bank are the private central bankers and their friends.
Each of the 12 Fed Banks provide services to financial institutions in the same way that regular banks provide services to individuals. This helps to assure the safety and efficiency of the nation's payments system.It's a good thing we haven't had any bank
Every dollar that is loaned by the Federal Reserve to the United States government must be paid back with interest. Based on this paradigm, America as a whole cannot help but become poorer.
failures lately, what with the skill of the Federal Reserve in assuring our economic safety, huh? Or any housing crises? Or any crises in the automobile industry?You might be of the opinion that it's important to insure Americans' savings accounts and other deposits. I disagree, but regardless of your position on this issue, the Federal Deposit Insurance Corporation is already run by the federal government. We can take care of this function without the help of a private bank. I'm sure that there are quite a few others.
It might seem necessary to hire the economically smartest men and women in our country to ensure that the right amount of money is circulating in the American economy. That makes some sense, but it would be much less costly--and much more efficient--if we paid these people a government salary instead of interest (on the interest on the interest) on the money that they "print" for us to use.
The Free Market prevailed two decades ago over the bloated and inefficient centralized control structures of socialism and communism, yet--twenty years later--the United States still relies on one of the most egregious central planning apparatuses in the history of the world for its economic planning. That is really dumb.
Ben Bernanke has single-handedly proven over the
It is time that the greatest criminal syndicate in the history of the United States be put under a strong microscope.
last few days how moronic it is for an oligarchy of men to be allowed to make economic decisions that have the potential to destroy the entire American economy.Fed representatives have of late taken to threatening a backlash if bills to "Audit the Fed" combine to become law (HR 1207 in the House of Representatives and S 604 in the Senate). I can't wait to see the cockroaches scurry for cover when that light is turned on.
It is time that the greatest criminal syndicate in the history of the United States be put under a strong microscope.
If you haven't contacted your Representative and Senators about the Audit the Fed bills, please contact them and either thank them for supporting their respective bill or encourage them to become a bill sponsor.
Your economic future depends on it.
Of course there is nothing wrong with private investors loaning money to the federal government when the government needs/wants the money - the problem is that the government has granted a virtual monopoly by this particular bank (a bank which most people don't have access to - a nice symbiotic relationship between two parasites leaching off the same host).
ReplyDeleteWe spend more each year on paying interest to our debt than we do on education.
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