And while rising stock prices don’t necessarily prove that the Fed has an ulterior motive; identifying the people who benefit from those inflated prices certainly does. After all, who owns stocks and bonds?
We can break these people up into three separate groups; The pretty rich, the very rich and the filthy rich. These are the people who own stocks and who benefit from the Fed’s policies.
So what does this tell us about the Fed’s “full employment, price stability” mandate?
It tells us its baloney. It tells us its public relations-hype designed to bamboozle the sheeple who can’t see what’s going on right beneath their noses.. It tells us the Fed has a secret mandate to assist the profit-accumulation process for the Kleptocrat class of ivy league moochers. (Wall Street) It tells us that the Fed’s real job is implement the policies that best facilitate the upward distribution of wealth. It tells us that the Fed’s so called “independence” is a complete and utter fraud and that if Janet Yellen or any of her meat-puppet-colleagues on the FOMC ever veered as much as a centimeter to the left of her corporate marching orders– they’d find themselves wrapped in plastic-sheeting and gasping for air at the bottom of the East River in a pair of cement booties.
In its storied history never once has the monolithic institution seen an outside audit to scrutinize its internal practices. Ron Paul has called for an outright of the fed for several years now, but it has been repeatedly blocked in the Senate, despite being passed in the House.
Despite the severe amount of resistance faced at the Senate level, with the new Republican majority it might happen!
Ron Paul launched a legislative push to audit the Federal Reserve in 2009, taking advantage of the rising popularity he began to experience following his 2008 presidential bid. The bill he introduced, formally called the Federal Reserve Transparency Act but colloquially referred to by the title “Audit the Fed,” passed the House twice, but was blocked by Democratic Senate Majority Leader Harry Reid, who refused to let the Senate vote on the proposed legislation.
Ron Paul’s bill would allow the Government Accountability Office to review the Federal Reserve’s books and retroactively analyze the decisions it makes pertaining to monetary policy. Due to a grassroots push inspired by Ron Paul, a partial-but-incomplete Fed audit was included in the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act, which exposed the fact that Federal Reserve insiders were given conflict of interest waivers that allowed them to invest in companies that they knew were receiving emergency bailouts.
Now, Republicans have taken control of the Senate, and Senator Mitch McConnell, an Audit the Fed co-sponsor who happens to be a close associate of Ron Paul’s son Senator Rand Paul, has been tapped as majority leader. Stephan Dinan at The Washington Times is reporting that aides at Mitch McConnell’s office are saying that he plans to finally bring the legislation to the Senate floor for a vote now that he has the power to do so.
Politico notes that Republican Congressman Thomas Massie of Kentucky intends to re-introduce the bill in the House at the beginning of the 2015 session. Kentucky GOP Senator Rand Paul says he will launch the companion bill in the Senate in January. McConnell has not yet indicated when the bill might face a vote in the Senate.
Should the Fed be audited it would mark an increase in control over the out of control spending the government has taken part of since its inception.
It’s believed the Fed is largely responsible for the $18.4 trillion dollars of debt we find ourselves in currently.
It remains to be seen if the Senate will pass the bill, but the changing of the guard in both the Senate and the House certainly have given Americans a reason to hope?
In a recent interview with Peter Schiff, news anchor Sandra Smith said:
Well, I’m starting to wonder if the tune really is changing because ordinarily I would say that a majority of our guests on set would be saying ‘guess what, you’ve gotta continue to buy the stock market,’ but all of a sudden I feel like we have a lot of guests this morning who are saying ‘this bubble’s gotta pop, the stock market’s gotta go lower.’ It’s starting to sound like the consensus is we’re tapping out.
One commenter on YouTube said:
Wow, what a coincidence that they lined up a bunch of people that say the game is coming to an end.
They know it’s over! They are rolling these guys out so they can say they didn’t suppress this view when they have [done this] all along.
This is one of the red flags I have been looking for. If you hear of the Russians launching an alternative to the swift system, then get ready for the end of the petro dollar soon afterwards. They are very close to this and FATCA will hurt anyone that stays in the swift system. Game over moment coming soon.
What do you think? How soon will the Fed-fueled stock market bubble pop?
To get a clearer picture of what the facts are saying, let’s focus on two major indicators of economic health: retail and housing.
Contrary to what mainstream media spin would have you believe, home sales numbers have cratered from the beginning of this year. And they’ve not rebounded. It’s not just a winter sales slump.
What’s more, the recent housing boom was driven by foreigners and Wall Street. Elite banksters are flush with cash from the economic improvers over at the Federal Reserve who are practically handing them money.
And because nobody can get a return on traditional bonds (who wants to clip coupons and eat dog food while earning a paltry 1.25% interest?), Wall Street has been gobbling up houses as rental investment properties.
In fact, it’s estimated that over half of all housing sales went to “hot money” buyers. And now that home prices have soared, the hot money has pulled back and stopped buying.
But they’re desperate to keep the party going. Even sub-prime lender Ditech has risen from the grave to pump out mortgages for people who can’t afford to buy.
Retail sales have sunk into the toilet. Almighty Walmart has stores stuffed with leftover CHRISTMAS inventory.
Retail titans like Sears, Target, and KMart have shuttered stores. One chain folding stores can be chalked up to bad management… three is a disturbing trend.
“The good news again is that Colorado continues to rank among the most economically competitive states in the United States in key measures such as job growth, innovation and technology concentration,” said Tom Clark, CEO of the Metro Denver EDC, whose study is called “Toward a More Competitive Colorado.”
But economic competitiveness is not the same as economic health. In fact, multiple indicators show that Colorado’s economy is worsening by the month.
Many Americans are hanging on by their fingernails just to make it to their next paycheck.
For example, a January 31, 2014 article published in the Parker Chronicle points out that food stamp assistance in Colorado now exceeds the worst months of the Great Recession.
More Coloradans are receiving food assistance today than during the worst months of the Great Recession.
An average of 508,200 residents qualified for SNAP dollars each month during 2013, according to the Colorado Department of Human Services.
This year the state predicts that an additional 44,000 Coloradans will sign up for help in putting food on the table. But the available assistance is limited. The average SNAP household of 2.5 people receives about $300 a month, according to government figures, or $10 a day.
So the number of Coloradans collecting SNAP benefits is already at a record high and it’s expected to grow by an additional 8.6% this year.
But that’s not all…
The labor-force participation rate in Colorado has fallen to 67.2%, the lowest since September 1976. A February 16, 2014 Denver Post article reports:
About 250,000 Coloradans have gone missing from the labor force since the recession, casting a shadow on recent reports of falling unemployment.
“We have seen quite a drop in the labor-force participation rate, and a lot of people are concerned about this,” said Alexandra Hall, the state’s chief labor economist.
Unemployment rates are notoriously deceptive. Job seekers run out of unemployment benefits after 26 weeks. After that time, they are no longer counted as “unemployed” even if they are still looking for a job.
Discouraged job seekers who return to college are also omitted from the official unemployment statistics.
If all those Colorado workers who’ve “gone missing” were added back in, the true unemployment rate would be above 10 percent.
This is why the labor-force participation rate is a more accurate economic indicator.
But perhaps most troubling is this inconvenient fact:
More than 37 percent of the unemployed in Colorado have been out of work more than 26 weeks, or half a year, which is when state unemployment benefits expire.
That is nearly triple the 12.7 percent long-term unemployment rate averaged in the state from 1980 to 2006, according to Economic Policy Institute.
These statistics seem to contradict the claims that Colorado excels at job growth. If that were the case, why do we have such a high number of long-term unemployed living here?
And if these are the kinds of economic problems facing a state that is “economically competitive,” how bad is it in other states that are not as economically competitive as Colorado?
The only reason the U.S. economy didn’t collapse completely in 2008/2009 is because of the quantitative easing implemented by the Fed. The flood of cheap money propped up the ailing economy and created new bubbles in place of those that had already popped.
But the Fed’s gimmicks can’t work forever. At some point, economic fundamentals will take over again and deep-six the U.S. economy. When that happens, not even the Fed’s quantitative easing will bring it back from the dead.
It’s been nearly five years since the depths of the 2008/2009 recession. And if you were to go by what the news pundits preach, you’d think Americans are doing quite well.
For instance, a February 11 New York Times article offers the following pick-me-up to bedraggled Americans:
“The economic recovery gained greater traction in the second half of last year,” [Janet Yellen] said, citing the growth of spending by consumers and businesses. She said the Fed continued to expect “that economic activity and unemployment will expand at a moderate pace this year and next.”
But the truth is not like the propaganda.
Wall Street may be doing well (because they’re playing rigged games and profiting from the Federal Reserve’s “stimulus”), but average Americans are not doing well at all.
Americans are financially worse off compared to one year ago… and the worst is yet to come.
What’s more, the percentage of Americans reporting they are financially worse off has grown during the last two polls, from 34% in late 2012 to 42% in early 2014. Gallup reports:
WASHINGTON, D.C. – More Americans, 42%, say they are financially worse off now than they were a year ago, reversing the lower levels found over the past two years. Just more than a third of Americans say their financial situation has improved from a year ago.
These results come from Gallup’s annual “Mood of the Nation” poll, conducted Jan. 5-8. Gallup has found that Americans’ economic confidence, self-reported consumer spending, and perceptions of job creation improved in 2013. Despite Americans’ more positive views of the overall U.S. economy in 2013, nearly two-thirds believe their personal financial situation deteriorated or was stable over the past year.
It’s interesting to note the disconnect between Americans’ perceptions and their own personal financial conditions. They believe things are getting better while reporting that they are getting worse.
This is because the MSM continues to try to paint a rosy picture of the economy by pointing to job growth, the rising stock market, and reductions in the unemployment rate.
Unfortunately, none of these indicators provides an accurate or reliable view of real economic conditions.
Most new jobs today are low-paying and/or part-time jobs in the service and retail sectors.
The Dow Jones Industrial Average is a prime beneficiary during periods of quantitative easing, and is therefore a false barometer for measuring the nation’s economic health.
And the unemployment rate is a notoriously misleading figure due to the government’s “creative” accounting methods.
While the average credit card balance has fallen in recent years, this is not only a result of repayment of the debt, but also default.
At the same time, the percentage of households carrying a credit card balance has actually increased since 2010.
From these statistics we can conclude that:
1. Many indebted Americans are unable to repay their consumer debt. For some, default is the only escape.
2. More Americans are unable to afford ordinary living expenses on their incomes alone and are therefore turning to credit cards to make up the difference.
Regardless of what you may see or hear in the news, these are not signs of a healthy economy.
In an article published January 28, Steve St Angelo writes: “Citizens of the U.S. and the world are heading into a future that few have prepared for. It will also turn out to be much worse than most realize as it will be unlike anything we have witnessed in the past.”
Many experts like Angelo believe we are headed for one of the greatest economic collapses in world history, and I can’t say my beliefs are any different.
Congress hoped to pass the banking bill quickly and quietly while ordinary citizens were distracted by Christmas. In this they succeeded. The legislation was passed by the House on December 22 and the Senate on December 23. Wilson signed the bill into law the same day.
At first, most Americans knew nothing of the true nature of the Federal Reserve Act. Many bankers had pretended to be against the bill. This naturally caused the average person of that time to support the bill because they thought it was bad for bankers.
Of course, the opposite was true. While the president was proclaiming “A New Era in Business,” the Federal Reserve was preparing to execute one of the greatest wealth redistribution schemes of all time… one that would enrich the elite and impoverish the common man.
After Woodrow Wilson signed the Federal Reserve Act, he declared it would begin “a new era in business.”
The Power that Congress Illegally Gave Away…
In Article 1, Section 8 of the Constitution, you’ll find that “The Congress shall have power… To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.”
In other words, the Constitution explicitly grants Congress the right to coin money and regulate its value. There is no mention of the Federal Reserve anywhere.
So on December 23, 1913, the Congress violated the Constitution by “outsourcing” the creation of money to the Federal Reserve.
Here are two things you should know about the Federal Reserve:
1. The Federal Reserve is not “federal.” It has no more relation to the government than Federal Express. The word “federal” was chosen to dupe the American public into believing it was a government entity.
In reality, the Federal Reserve is owned by private individuals. To this day, the true owners of the Fed have been kept secret.
2. There are no “reserves.” Dollars are issued at will. Most dollars are created digitally out of thin air — no printing required.
The Fed Has Failed to Achieve Its Stated Purpose
One of the stated purposes of the Federal Reserve is to protect and preserve the value of the dollar.
Assuming this is something they’re actually trying to accomplish (and I don’t think it is), then they’ve failed miserably.
To be clear, some expansion of the money supply is necessary to keep up with growth in the labor market. Obviously, $1 million in circulation might be enough to meet the needs of 10-100 people, but it would not be enough to meet the needs of 300 million people.
So some new money needs to be added to the supply periodically. But the Federal Reserve has inflated the money supply to sums far beyond what even Woodrow Wilson could have imagined.
What’s more, most of that money has enriched the bankers themselves and other privileged players on Wall Street — not the average 9-5 worker.
But here’s one of the most shocking things of all…
Every Dollar You Have Represents a Debt!
Take a dollar bill out of your wallet or purse. Look at it. You’ll notice the words “FEDERAL RESERVE NOTE” across the top. You may also notice it says, “This note is legal tender for all debts, public and private.”
In the financial world, what exactly is a “note?”
It is shorthand for “promissory note.” In other words, a note is a promise to pay back a debt.
This means that every Federal Reserve note is NOT actually money… it is a piece of paper that represents a debt owed to the Federal Reserve. Quite frankly, it is nothing more than a dressed up IOU.
You see, every single Federal Reserve note that’s been created since 1913 and loaned to the United States Congress has to be paid back to the Federal Reserve with interest.
When people say we have a debt-based economy, it is absolutely true… even down to the dollars in your wallet or purse.
How to Abolish the Fed
The Federal Reserve has now racked up 100 years of financial tyranny courtesy of the actions of a few privileged men in 1913.
But getting rid of the Fed would actually be quite simple. All Congress would have to do is revoke the Fed’s charter and take back the Constitutionally granted power to coin debt-free money and regulate the value thereof.
Will our elected representatives actually do that? It’s unlikely. But I still hold out hope that I will one day witness the end of the Fed.
P.S. The best book ever written about the Federal Reserve is The Creature from Jekyll Island by G. Edward Griffin. I highly recommend you read it.
With that in mind, here’s a brief overview of the Federal Reserve provided by investigative journalist Ben Swann — along with his brief interview of G. Edward Griffin, one of the leading living experts on the Federal Reserve…
When talking about how to fix the U.S. economy, most discussions center around some specific segment of the economy, and how if it were fixed, then the economy would improve.
Lately discussions have centered around real estate, the jobs market, the deficit, and other things.
Americans believe that if the real estate market improved… or if there were just more jobs… or if the deficit was reduced… then the economy would start humming along again.
But all of these things are really just side shows that draw attention away from the main act, which is our money and banking system.
Our money and banking system is built entirely on fraud and deception. The Federal Reserve is a private bank owned by a group of anonymous private bankers. Their wealth has come by deceiving Americans into allowing the Fed to “print” money and lend it to the U.S. government.
Never mind that the Constitution only allows Congress to create money. They outsourced that responsibility to the Fed back in 1913.
Worse, the Fed does not create money; they create debt notes called dollars. These dollars are loaned to the U.S. government at interest. Of course, the U.S. government cannot repay the debt without borrowing yet more from the Fed.
The Fed does nothing to create these debt notes. They are journal entries. They can be created with a few clicks of a keyboard. Their remuneration — the interest they charge on the “money” they’ve created — is nothing but legalized theft.
The Congress should immediately take back the right to create money and consign the Fed to the relic bin of failed central banks. And the new money issued by Congress should be REAL money — i.e., not debt notes. Real money does not have to be repaid with interest.
Just four years ago, the tiny nation of Iceland went bankrupt. It hit so hard and fast that few people saw it coming. It was feared that Iceland’s economic recovery would take decades.
But such was not the case. Today, Iceland is doing quite well, much better than anybody dared to expect or believe. You won’t hear much about this on the mainstream news because Iceland’s “economic cure” was to simply let the banks fail.
And they didn’t stop there. Stephen Jones writes: “They allowed the banks to go bankrupt, arrested bankers and politicians for fraud, and refused the austerity programs demanded by the IMF.”
At the recent World Economic Forum in Davos, Icelandic president Olafur Ragnar Grimsson shares what they did following the bankruptcy and what’s happened since…
During the brief interview, Grimsson says they didn’t follow the “traditional prevailing orthodoxies of the Western world in the last 30 years.” He then asks, “Why do they consider the banks to be the holy churches of the modern economy? Why are private banks not like airlines [and] telecommunication companies [that are] allowed to go bankrupt if they have acted in an irresponsible way?”
The solution to U.S. economic woes is simple: get rid of the Federal Reserve, allow irresponsible banks to go bankrupt, and let the Congress start issuing real money.
Don’t be scared. Be prepared.
P.S. Gold and silver are real money. Until such time as the Federal Reserve is decommissioned, it would be smart to start investing in gold and silver. One easy way to do that is through Silver Saver. Check it out.
I know that technically the Federal Reserve was established in 1913, making me more than a little premature in the anniversary department, but the way things have been going lately we may not have another year of life as we know it here in America so I wanted to share this message with you now. There is still time to pull ourselves out of the economic mess we are in, but the window of opportunity to maintain our way of life is rapidly closing here in America thanks to one institution in particular.
Most of us don’t know much about the series of banks that comprises the Federal Reserve, like the fact that the Federal Reserve is owned and controlled by private interests that have no allegiance to the United States. In essence the Fed is a supranational organization that operates outside of the scope of American politics as none of our political leaders have any control over the Federal Reserve.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”
– Woodrow Wilson
Shouldn’t the power of money rest in the hands of the people and not in the hands of an elite banking cabal with ZERO oversight from the people or our elected representatives. Most people don’t realize that the power to create money also means the power to steer the direction of our entire economy. In the past we called the Chairman of the Fed Maestro as if he had some great directorial control of the economy. Most of us also somehow made the grand assumption that what is good for the Maestro is good for the U.S. simply because things were looking good with the economy in the good ol’ days of the 90′s.
Today nobody calls Ben Bernanke (The Current Fed Chief) Maestro or anything else remotely endearing and for good reason. Though the actions of the Fed have been veiled in secrecy for the last century the overall effect this institution has had on our country is very much out in the open, just look at the dire state of our economy.
The Constitution asserts that the power of coining money rests solely with Congress and affords no delegation of that power to another entity. The Fed maintains that it received its delegated powers from Congress but also asserts its absolute independence in decision making. This might be OK if the Fed were just another bank, but since the Fed has the power to create money out of nothing and control interest rates, the decisions made at the Fed affect virtually everyone in the United States.
Two hundred and thirty-six years ago our Founding Fathers saw fit to separate themselves from the British for want of spiritual AND economic freedom. Taxation without Representation was the common cry back then. Since Inflation is in essence a tax as it weakens purchasing power, letting the Fed control our monetary policy without one ounce of input or oversight from Congress or the People, inflation equates to taxation without representation in modern form. Or maybe it isn’t that modern,
“The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the Revolution.”
– Benjamin Franklin
We aren’t in much danger of this institution lasting another 100 years or even another 25 at this rate, the truth is that the Federal Reserve has whittled down the value of our currency to almost nothing. And while big bankers and most of our politicians believe they can keep up the charade for the indefinite future, the few of us in the know understand that inflation is a terminal disease.
What does this mean for the average American? A drastic decrease in purchasing power as prices of necessities continue to rise. And if our debt continues to rise on a near exponential curve as it has in recent years we will reach a point where hyperinflation takes over and the value of our currency approaches zero. Prices of all goods will rise uncontrollably and empty store shelves will become a reality in America with bread lines and totalitarian measures not far behind. Germany experienced a period of hyperinflation in the 1930′s and we all know how that worked out in the following decade. If you want a more recent example of hyperinflation you can look to Zimbabwe under the Mugabe regime.
Most of us think that America is immune to any sort of sharp economic downfall, likely because of our classification as the world’s last superpower, but arrogance provides no protection from the real world. We are subject to the same economic laws that prevail throughout the world. I wouldn’t have a hard time convincing most of you that a neighbor that had re-mortgaged, re-re-mortgaged, and re-re-re-mortgaged their home was in trouble from an economic standpoint. But when I tell them the same thing about the United States they simply refuse to believe the same logic. There is simply no such thing as too big to fail, even when it comes to countries.
We are face to face with all of this because our leaders have gone beyond simple irresponsibility and fallen into the realm of outright deceit in order to serve their corporate masters. The Fed has proven to be the vehicle for endless wars and an absolute drain on the real wealth of this country. If you want an accurate measure of inflation just look at the price of Gold, which is near all time highs today. Up until the 1930′s you could trade a $20 Bill for an Ounce of Gold, now a $20 bill will net you about 1/80 of an Ounce of Gold.
Today our leaders have printed money so fast that in the last three years the monetary base has essentially tripled. In the simplest terms, when the amount of dollars out is multiplied by three the value of each dollar is reduced by a factor of three as well. Sure you can bolster the economy by printing money and giving some of it to your friends in big business, but the party can’t go on forever. Printing money is like any other addiction, so our leaders live in perpetual denial as they try for that next fix without any regard to the fallout from their actions.
It’s no longer enough to keep hacking at the branches of evil, the time is now to strike the root. Let’s not let the Fed celebrate 101 years of tyranny, the time is now to End The Fed!