With many Americans slowly waking up to the reality that our government and banking system are entirely under the control of a criminal elite of private bankster crooks, Ron Paul has once again taken it upon himself to push for an audit of the Federal Reserve, the outcome of which would likely be so incomprehensibly shocking that the Fed may finally be forced to shut down for the greater good of our country and its citizens.
The Federal Reserve was originally created under the guise of being an “impartial” entity separate from the government that could be called upon to stabilize our economy in times of panic, while protecting and maintaining free market principles. The sick twisted irony is that the Fed is the precise antithesis of what free markets are really about. And since the Fed’s inception, it has done nothing but DESTABILIZE our economy with increased volatility by manipulating interest rates, along with leverage ratios used by the banks (in cahoots with those who control the Fed and the SEC).
It still boggles my mind that the SEC implemented the “Pattern Day Trader” rule to “protect the little guy” by forcing more active traders and investors to maintain at least $25,000 in a trading account or face severe trading restrictions. I guess the SEC also forgot that they came into power largely because a big part of the 1929 crash was caused by the extension of 10:1 credit to investors (which couldn’t have happened without the Fed’s easy money policies). So to make amends, the SEC goes on to serve and protect “the little guy” some more by allowing ONLY the largest (and most politically-connected) “too big to fail” investment banks pump up their balance sheets with over 40:1 leverage.
Ron Paul says it best in a recent blog entry: “The Fed negates the very foundation of a free market by artificially manipulating the price and supply of money – the lifeblood of the economy. In a free market, interest rates, like the price of any other consumer good, are decentralized and set by the market. The only legitimate, Constitutional role of government in monetary policy is to protect the integrity of the monetary unit and defend against counterfeiters.”
He goes on to say: “Instead, Congress has abdicated this responsibility to a cabal of elite, quasi-governmental banks who, instead of stabilizing the economy, have destabilized it. It took less than two decades for the Federal Reserve to bring on the Great Depression of the 1930′s. It has also inflated away the value of our currency by over 96 percent since its inception. It has invisibly stolen from the poor and given to the rich through this controlled inflation, and now openly stolen through recent bank bailouts. It has predictably exacerbated the very problems it was meant to solve.”
I couldn’t care less about democrats or republicans, they’re almost all the same these days – bought, sold and paid for by the banking cartels, lobbyists, and other secret powers that be. Ron Paul should have been our next President, and he truly could have brought about some real change. Speaking of “change”, how many of you who were suckered into voting for Obama still don’t wholeheartedly regret it?
And now things have turned even worse, with the Federal Reserve buying up long-term government bonds at their all-time low yields. Why? Because the day of reckoning finally seems to be hovering upon us as foreigners are no longer willing to support our government’s drunken spending habits. So instead of new money coming in, money is now flowing from one pocket to the other. Our government creates new monetary debt, and the Federal Reserve buys it outright with freshly minted fiat bills. While there’s still a long way to go to reinflate what’s been lost through the credit implosion (also created by the same gang of thieves), this unprecedented move is purely inflationary. Has anyone else noticed prices creeping up everywhere that counts, from your local grocery store to a post office stamp? So much for deflation…
Regardless, it’s still not too late for some real change. How about supporting Ron Paul’s “Audit the Fed” campaign by asking your Congreesman to support HR 1207. Imagine how much more productive and wealthy this country would be without the constant manipulation and theft perpetrated by the global bankster elite and their political cronies.