Jane really dislikes it when I get political on our Family Blog... and she may delete this post ...... but after my bro. posted a little about the FED lending/creating $7+ Trillion today I couldn't help myself....... I mean really, whats a few Trillion among friends.....
The FED: its form, function and deceit.
One persistent myth is that unregulated banking is dysfunctional and predatory and that the Federal Reserve will rein in the big banks all for the sake of the little guy.
If the free-enterprise myth is the thesis of monetary propaganda, and the progressive myth is its antithesis, they both serve together to form the synthesis of all of us being ripped off and very few understanding what is happening. In reality, the Fed is the worst of both worlds: Privatized profits and socialized risk: It is the key to corporate socialism and the corporate state: It is the intersection of the wealthiest private interests with the brutal power and monopoly that only the government can offer: It is economic fascism in our midst.
Indeed, the Fed was signed into law by Woodrow Wilson at the height of the Progressive Era, and soon enabled the U.S. government to become a global empire, especially with its horrific entry into World War I. The central bank was admittedly sold to the public as a way to protect the people from greedy bankers. But we all know that when representatives from banking giants J.P. Morgan, the First National Bank of New York, the National City Bank of New York, and Kuhn, Loeb & Company met at Jekyll Island in 1910 to plan the creation of the Federal Reserve, their interest was not to curb their own power and wealth.
The Fed provides the most regressive form of taxation in our society. The new money and credit coming from the Fed do not become distributed evenly among the general population. It all goes to the central bankers, the government itself, the politically connected corporate interests, the military-industrial complex, and favored firms on Wall Street. Meanwhile, the value of the dollar declines. It is wholesale robbery from the poor and middle class, all to benefit the most politically and financially powerful elite in American society.
The last great myth behind the Fed is that it leads to stability. Well, for the power elite, perhaps, but not for the country or international economy as a whole. At the center of this myth is the idea that the Fed keeps inflation in check. In fact, the Fed’s operations are inflation. That’s what it does. It has caused prices to increases virtually every year since 1913, simply by increasing the money supply.
Then there is the idea that the Fed keeps the booms and busts in line. This is another total reversal of the truth. In a normal market setting, savings and inflation would be in harmony. The willingness of some to save and the demand of others for credit would work out to an equilibrium and produce the market interest rate. The Fed’s injection of new money into the system undoes this balance. People get cheap credit and invest wildly in projects for the future, but those low rates no longer correspond to high savings. The consumers are still spending like crazy, the investors are investing like mad. This is what causes booms and eventually busts. When years later, people have not saved up enough to purchase all the products being produced through long-term investment projects, we have the bust. The Austrian Theory of the Business Cycle and sound economics help to explain the 1929 crash, 1970s stagflation after the guns and butter of the 1960s, the dot-com and real estate bubbles and all the other problems since 1913 that Keynesian economics doesn’t account for sufficiently. I suggest to everyone they read Murray Rothbard.
Very recently, we’ve seen the Fed behave even more criminally than normal. It has become even more brazen. Right now we are not feeling inflation and are thankfully having some deflation, the one welcome part of recession, but within a year or so we can expect very significant inflation. Prices will go back up. Like the 1970s, we might have the worst of both worlds as unemployment rises along with inflation. But no need to worry, Obama and his team of establishment crooks will fix all of it.
Everything the Fed does is based on a foundation of lies. It does not represent the free market. It does not curb corporate greed for the benefit of the little guy. It does not stabilize prices or the economy in general. It does not prevent inflation or the boom and bust cycle. Everything the establishment, both political parties, the mainstream media and the government have said about the Fed is the opposite of the truth.
If you really believe in true free enterprise.
If you want an economy of openness, fairness, and honest balance sheets.
If you are sick of seeing the people responsible for our booms and busts claim they know the answer, when their only solution is more of the same.
If you oppose reckless spending and social engineering from Washington, DC, without any consideration of fiscal discipline.
End the Fed.
The FED
Come listen to a prophets voice....
It will be more important to listen to the prophet ... than anything else we do.
Many thanks to my brother in sending me this first audio clip from the 60's......
It led me to the other two clips..... of a speech given 12 April 1977.
Part 1
Part 2
Communism--a System Antithetical to the Gospel of Christ
Through the instigation of Marx and Engels, a most successful counterfeit to the united order was introduced into the world. The declaration of principles found in their Manifesto to the World advocated the overthrow of capitalism and free enterprise, the abolition of private property, the elimination of the family as a social unit, the abolition of all classes, the overthrow of all governments, and the establishment of communal ownership of property in a classless, stateless society. All this was to be accomplished by revolution.
On July 3, 1936, the First Presidency published this warning to Church members. I quote it in part; I hope you will get a copy of the full statement for your files. In part, the statement reads:
Communism is not a political party, nor a political plan under the Constitution; it is a system of government that is the opposite of our Constitutional government. . . .Since Communism, established, would destroy our American Constitutional government, to support Communism is treasonable to our free institutions, and no patriotic American citizen may become either a Communist or supporter of Communism.
To our Church members we say, Communism is not the United Order, and bears only the most superficial resemblance thereto. Communism is based upon intolerance and force, the United Order upon love and freedom of conscience and action. . . .
Communists cannot establish the United Order, nor will Communism bring it about. . . .
Communism being thus hostile to loyal American citizenship and incompatible with true Church membership, of necessity no loyal American citizen and no faithful Church member can be a Communist.
We call upon all Church members completely to eschew [and shun] Communism. The safety of our divinely inspired Constitutional government and the welfare of our Church imperatively demand that Communism shall have no place in America.
Signed,
President Heber J. Grant
J. Reuben Clark, Jr.
David O. McKay
The First Presidency
A government big enough to give you everything you want,
is strong enough to take everything you have.
-Thomas Jefferson
I'm Clinging to My God & Guns!!!
And to be completely honest.... I don't think the other guy was much better. I say vote them all out and make everyone read the constitution!!! Geeeze!
Will the Bailout help???
Maybe to some degree in the short run, but that just means we'll have more inflation. You can't create trillion's out of thin air and not expect inflation. So although the dollar may be up a little bit right now because the markets are a little calmer, this just means that in time we're going to all suffer and pay for this, and we're going to pay for it with higher prices.
This is the serious problem. It's the attack on the dollar system. They're trying to save the dollar, but this system that we've had since 1971 is nonviable, and it's coming to an end. That's what this whole story is about, the end of a monetary system that we've had since 1971.
Something has to give. You just can't create more money out of thin air and propping up everybody. It's an immoral system. You're asking the poor people to bail out the rich. You're asking the innocent people to bail out the guilty. You're asking people to just totally defy the Constitution because there's no place in the Constitution that says that we can do these things.
Besides, economically, it's a disaster. This is going to cause a great deal of harm. It's like a drug addict taking a strong fix, and he feels better for a day or two, but believe me, we're going to kill the patient. And the patient here is the dollar system and our entire world economy. I would say let's get off this addiction.
But the big question is: Does the majority of the American people believe the government can still take care of us, or should we get the government out of the way, quit spending money, balance the budget, bring our troops home, and let the American people keep the money they earn? That means drastically reducing taxes.
Get the government out of this overregulation, and give up on this idea that inflation solves everybody's problems. If inflation, that is the creation of new money, could solve everybody's problems, which they're claiming right now, nobody would ever have to work again. If $5 trillion could save this economy, why work? Just print money, and everybody will be happy.
We should let the market make these decisions.
It's arrogant for the politicians and the bureaucrats to believe they can plan the economy and sort this all out. We've been doing it for all these years, and the monetary system is so confusing and so corrupt, that the sooner we get back to believing in ourselves, believing in freedom, believing in sound money, believing in the Constitution, we're going to solve these problems.
Maybe the American People will start thinking…. Maybe limited government and freedom works. Maybe freedom is popular, and maybe freedom really works. And this idea that we have to depend on government for all these programs is an illusion.
Ron Paul Oct 17, 2008
