Ben Bernanke has been a politicians best friend! His policies of making big banks flush with newly created cash they can use to hide their previous misdeeds (and allow new ones), as well as buying up all the Treasury debt Congress throws his way, have made him very popular both within the administration, and on Wall Street. So much so, that just last week, President Obama announced the reappointment of Federal Reserve Chairman Ben Bernanke to a second term! Yipee!
Contrary to the cries of an "independent" Fed, the truth is, Federal Reserve policy is not made by bankers and/or economists in the first place, but instead are actually made by whatever politician is running the White House! The Federal Reserve is the most powerful central planning device in the country. To believe it's not politicized, is to believe in unicorns.
Signed into law by Progressive President Woodrow Wilson, the Federal Reserve Act of 1913 is a banking monopoly scheme, created by the Rockefeller, Morgan, and Kuhn-Loeb banking families. Ever since its passing:
- our dollar has lost 96% of its value.
- a record number of American banks have collapsed.
- we've been pushed time and again into recessions and depressions (like now).
- grown a giant welfare state.
- and fought more wars than our Founder's could have ever imagined.
The Federal Reserve has been ripping off middle-class America for over 100 years and subverting our freedoms along the way. It's time to give Obama and Bernanke nightmares ... it's time to END THE FED!
Because of the Federal Reserve, for the first time since WWII, the annual federal budget deficit is projected to be over 11% of the nation's gross domestic product (GDP). By 2019, federal debt is projected to reach a staggering 68% of our GDP!
The bottom-line ... this debt is unsupportable, and if we don't change our path soon, the consequences will be simply, unimaginable.
While it's true that President George W. Bush set the country on a path of financial destruction, this hasn't stopped the Obama administration from accepting Bush's spending policies and accelerating them with even bigger bailouts and spending programs! In reality, none of this is affordable. We don't have the money!
But shrouded in secrecy ... the Fed's shady monetary policy allows Washington politicians to continue their hedonistic ways.
END THE FED!
Good News!
While Obama was busy reappointing Bernanke last week, a New York District Judge ordered the Federal Reserve to disclose the recipients of around $2 trillion in bailout money after the Fed failed to convince the judge that their records should be exempt from the Freedom of Information Act. The Fed of course, is doing everything its power and priviledge allows them to fight this ruling.
While this is certainly encouraging, "we the people" still have a long way to go!
Legislation to open the Fed's books, HR1207 and S604, continue to gain momentum in Congress, as more and more people insist on genuine government transparency. One way or another, "we the people" are going to bring the Federal Reserve and their banker friends. to their knees.
The days of Fed secrecy and debauchery are coming to an end. It's time they answer for their actions. Let's End the Fed!
You are doing great! We were at #13. End the Fed is now at #5 on the Amazon non-fiction best seller list, and #18 in all books. There are eight reviews, all five-star. So keep buying, and recommending the book, and review it once ypu have read it. Ideas are more powerful than armies, as Mises wrote, and the Ron Paul Army is moving on the Fed. They cannot escape. We actually have a chance of hampering their inflationary, bankster baillout schemes. And if we really do our work, perhaps our children and grandchildren will not live under a Fed regime, where the middle nd working classes are ripped off by the Fed for the military-industrial complex, and the bank-welfare complex. We can actually End the Fed and make Bernanke and the the rest of the gang get a job. We can fulfill Ron Paul’s long-time dream of his being the auctioneer at the sale of the Fed’s marble palace in DC. Let us strike while the printing presses are hot. Let us stand up for liberty and prosperity and Ron Paul, and make sure this book debuts on September 16th at #1 overall on Amazon, and #1 on the NY Times bestseller list. Let’s make Bernanke, Greenspan, the banksters and the Wall Street welfare bums, quake in their handmade boots. the Ron Paul Revolution is brewing. End the Fed!
End the Fed? A not-so-crazy idea.
But Mr. Paul ... also wants to keep the Fed out of Congress's clutches – by scrapping it altogether. That's the goal of his follow-up Federal Reserve Board Abolition Act (H.R. 833). Although that measure has yet to gain a single cosponsor, it has plenty of grass-roots support, and Paul hopes that members of Congress will jump on the bandwagon once their eyes are opened by a no-holds-barred audit.
Wacky stuff? Well, if not having a ghost of a chance is enough to make a bill bonkers, Paul's measure probably qualifies. But that doesn't mean you've got to be crazy to believe that the US economy would be better off without the Fed.
The Fed's apologists suggest otherwise, of course. They note that the US spent nearly half the years between 1854 to 1913 in recession, as opposed to just 21 percent of the time since the Fed's establishment in 1913. Who would want to go back to those bad old days?
But consider: the US economy has actually grown less rapidly since 1914 than it did before. And inflation has been much worse, despite both the Civil War, which featured the nation's worst inflation, and the Great Depression, which featured its severest deflation!
What's more, the frequent downturns before 1914 were due, not to the lack of a central bank, but to foolish government regulations. Topping the list were bans on branch banking, initiated by state governments and then incorporated into federal banking law ...
During the Civil War, state bank notes were taxed out of existence to make way for those of new national banks. Because national banks had to accept one another's notes at full value, their currency was uniform. But national bank notes had to be backed by government bonds.
So a call to end the Fed would have been anything but crazy in 1934. Three-quarters of a century and a dozen crises later, there are plenty of grounds for insisting that it hasn't gotten any crazier.
