The Federal Reserve Wants You Fired - Ron Paul
Posted by freedomforall 1 year, 7 months ago to Politics
Excerpt:
"Well-connected members of the financial elite and crony capitalists benefit from the Federal Reserve’s money creation, as they are the first recipients of the new money. This enables them to increase their purchasing power before the new money has caused general price inflation. By the time the money creation has impacted the middle and working classes, the economy is racked with widespread price inflation. Therefore, a nominal gain in wages is not enough to compensate for the real price increase. So average Americans suffer from both Fed-created inflation and the Fed’s attempts to rein in that inflation.
It is amazing that more individuals do not question the idea that inflation, recessions, unemployment, and booms and busts are necessary features of a sound monetary system. Even many otherwise staunch defenders of free markets maintain a child-like faith in central banking. Some conservatives support “reforming” the Fed by making it follow a “rules-based” monetary policy. These conservatives do not understand that the problem is the existence of a central bank with the power to manipulate the currency.
Many progressives recognize the damage the Fed does to average Americans when it increases interest rates. However, their "solution” is a cure worse than the disease: make the Fed maintain low interest rates (and thus high inflation) in perpetuity—or until the continued devaluation of the currency via inflation causes a dollar crisis, leading to a major economic calamity. The main victims of this crisis will, of course, be the very Americans progressives claim to care about."
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As I have posted frequently in the past, raising interest rates is not necessary. It is not a solution to inflation; it is just another way that banksters steal from everyone else while pretending to correct their own purposeful actions.
The Federal Reserve is a cartel of Banks and it exists to enrich the banksters by stealing from everyone else.
Read "The Creature From Jekyll Island" for all the details on how you are being robbed.
"Well-connected members of the financial elite and crony capitalists benefit from the Federal Reserve’s money creation, as they are the first recipients of the new money. This enables them to increase their purchasing power before the new money has caused general price inflation. By the time the money creation has impacted the middle and working classes, the economy is racked with widespread price inflation. Therefore, a nominal gain in wages is not enough to compensate for the real price increase. So average Americans suffer from both Fed-created inflation and the Fed’s attempts to rein in that inflation.
It is amazing that more individuals do not question the idea that inflation, recessions, unemployment, and booms and busts are necessary features of a sound monetary system. Even many otherwise staunch defenders of free markets maintain a child-like faith in central banking. Some conservatives support “reforming” the Fed by making it follow a “rules-based” monetary policy. These conservatives do not understand that the problem is the existence of a central bank with the power to manipulate the currency.
Many progressives recognize the damage the Fed does to average Americans when it increases interest rates. However, their "solution” is a cure worse than the disease: make the Fed maintain low interest rates (and thus high inflation) in perpetuity—or until the continued devaluation of the currency via inflation causes a dollar crisis, leading to a major economic calamity. The main victims of this crisis will, of course, be the very Americans progressives claim to care about."
-----------------------------------------------
As I have posted frequently in the past, raising interest rates is not necessary. It is not a solution to inflation; it is just another way that banksters steal from everyone else while pretending to correct their own purposeful actions.
The Federal Reserve is a cartel of Banks and it exists to enrich the banksters by stealing from everyone else.
Read "The Creature From Jekyll Island" for all the details on how you are being robbed.
