After 100 Years Of Failure, Itís Time To End The Fed!
2013-12-23 0:00

From: againstcronycapitalism.org



Indeed. End the Fed.

Sounds so radical doesnít it? Isnít the Federal Reserve there to smooth out the economy, to stabilize the currency? To make sure the world doesnít blow up?

What if I told you that it doesnít smooth out the business cycle, but exacerbates it. That the dollar has lost 95% of its value since the establishment of the Federal Reserve. And that the world has ďblown upĒ multiple times under the Fed regime? The world is worse for having the Fed in it.

A reasonable person might ask, ďWell, I donít buy it. Thatís not what Iíve been told. Wouldnít things have been even worse without the Fed?Ē

No. The Fed is the reason we have so much economic instability, and why the world economy is prone to long periods of sub optimal performance. The Fed juices the economy to counter what it perceives as downturns. In so doing it creates malinvestment while times are ďgood.Ē When (artificially) easy money flows businesses and governments make stupid decisions. They leverage themselves out too much, much more than if the market set the overall rates of interest. They build where they shouldnít build. They loan money to people they shouldnít loan money to. And eventually all this malinvestment crumbles on itself and creates a recession or depression.

Sadly the Fed doesnít then just abolish itself in the face of another failure. No, it is usually during these times where the Fed, the very entity which has created the problems in the economy, gains more power as politicians scurry around trying to look as if they are solving the countryís economic problems.

This is what happened in the wake of 2008.

The Fed screwed up by keeping rates too low for too long. The banks took advantage of the easy money.Then the big banks came tumbling down Ė really just a reversion to the mean. Then the Fed bailed out the banks and in the process expanded its power.

The Fed failed. The manipulation of interest rates failed. The manipulation of the market mechanism failed. But because people (especially Congress) think the bankers at the Federal Reserve have some God-like insight into the world of high finance, they hand over more of the economy to the Fed in the wake of each Fed induced crisis.

Itís as if America has fallen into a Stockholm Syndrome induced trance. The Fed has captured the economy and after 100 years the general public (and Washington) now look to its captor for economic answers. We know nothing else. Wonít the world end if we take off the chains the FOMC has told us protect us? What if we decided to be free?

Nope, nope, too scary to contemplate. The wizards at the Fed will take care of things.

The so-called wizards, are just men and women. They are prone to mistakes (obviously.) But because the Fed has such massive power when these men and women made of flesh and blood mess up, they mess up the whole world. No political entity should ever be able to do this.

The Fed is far too powerful. Itís time to stop identifying with our captors and to put the bank in its place, which is to say in the dustbin of history.

Source: againstcronycapitalism.org



From The Free Foundation:

After 100 Years Of Failure, Itís Time To End The Fed!

A week from now, the Federal Reserve System will celebrate the 100th anniversary of its founding. Resulting from secret negotiations between bankers and politicians at Jekyll Island, the Fedís creation established a banking cartel and a board of government overseers that has grown ever stronger through the years. One would think this anniversary would elicit some sort of public recognition of the Fedís growth from a quasi-agent of the Treasury Department intended to provide an elastic currency, to a de facto independent institution that has taken complete control of the economy through its central monetary planning. But just like the Fedís creation, its 100th anniversary may come and go with only a few passing mentions.

Like many other horrible and unconstitutional pieces of legislation, the bill which created the Fed, the Federal Reserve Act, was passed under great pressure on December 23, 1913, in the waning moments before Congress recessed for Christmas with many Members already absent from those final votes. This underhanded method of pressuring Congress with such a deadline to pass the Federal Reserve Act would provide a foreshadowing of the Fedís insidious effects on the US economyówith actions performed without transparency.

Ostensibly formed with the goal of preventing financial crises such as the Panic of 1907, the Fed has become increasingly powerful over the years. Rather than preventing financial crises, however, the Fed has constantly caused new ones. Barely a few years after its inception, the Fedís inflationary monetary policy to help fund World War I led to the Depression of 1920. After the economy bounced back from that episode, a further injection of easy money and credit by the Fed led to the Roaring Twenties and to the Great Depression, the worst economic crisis in American history.

But even though the Fed continued to make the same mistakes over and over again, no one in Washington ever questioned the wisdom of having a central bank. Instead, after each episode the Fed was given more and more power over the economy. Even though the Fed had brought about the stagflation of the 1970s, Congress decided to formally task the Federal Reserve in 1978 with maintaining full employment and stable prices, combined with constantly adding horrendously harmful regulations. Talk about putting the inmates in charge of the asylum!

Now we are reaping the noxious effects of a century of loose monetary policy, as our economy remains mired in mediocrity and utterly dependent on a stream of easy money from the central bank. A century ago, politicians failed to understand that the financial panics of the 19th century were caused by collusion between government and the banking sector. The governmentís growing monopoly on money creation, high barriers to entry into banking to protect politically favored incumbents, and favored treatment for government debt combined to create a rickety, panic-prone banking system. Had legislators known then what we know now, we could hope that they never would have established the Federal Reserve System.

Today, however, we do know better. We know that the Federal Reserve continues to strengthen the collusion between banks and politicians. We know that the Fedís inflationary monetary policy continues to reap profits for Wall Street while impoverishing Main Street. And we know that the current monetary regime is teetering on a precipice. One hundred years is long enough. End the Fed.

Source: the-free-foundation.org




Related Articles


Latest News from our Front Page

Better Identification of Viking Corpses Reveals: Half of the Warriors Were Female
2015-04-25 4:52
Shieldmaidens are not a myth! A recent archaeological discovery has shattered the stereotype of exclusively male Viking warriors sailing out to war while their long-suffering wives wait at home with baby Vikings. (We knew it! We always knew it.) Plus, some other findings are challenging that whole ‚Äúrape and pillage‚ÄĚ thing, too. Researchers at the University of Western Australia decided ...
Off Your Knees, Germany! Ernst Zundel 1983 - 2003
2015-04-25 1:15
For more information on the holocaust, how the war was forced upon Germany, and the REAL victims of the second world war see: http://gblt.webs.com/Real_Holocaust.htm http://web.archive.org/web/20130806074314/http://www.666blacksun.org/ http://www.zundelsite.org/
IRS Drops Attack For Six Years ‚Äď No Evidence of Jurisdiction
2015-04-24 20:29
A big congrats to a friend I‚Äôve been working with for several years, he stood up to the predators commonly called the ‚ÄúIRS‚ÄĚ and they dropped their attack. Thanks also for providing me with the proof below. The criminals called the ‚ÄúIRS‚ÄĚ initiated an attack claiming my friend was required to file six tax returns, or explain how he made ...
Into Eternity - Finland's 100,000 Year Massive Underground Spent Nuclear Fuel Program
2015-04-24 20:49
Into Eternity is a documentary about a deep geological repository for nuclear waste. The concept of long-term underground storage for radioactive waste has been explored since the 1950s. The inner part of the Russian doll-like storage canisters is to be composed of copper. Hence in the case of Onkalo it is tightly linked to experiments on copper corrosion in running ...
SPLC Accuses Oath Keepers of Inciting ‚ÄúArmed Confrontation‚ÄĚ Over Sugar Pine Mine
2015-04-24 20:22
The Southern Poverty Law Center has accused Oath Keepers of inciting an armed confrontation with BLM authorities over the Sugar Pine Mine dispute in Oregon, despite the fact that the organization has explicitly stated that it is not promoting armed confrontation with the feds. In an article provocatively posted on the organization‚Äôs ‚ÄėHatewatch‚Äô section entitled Oath Keepers Descend Upon Oregon with ...
More News »