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Tag Archives: End the Fed

After 100 Years Of Failure, It’s Time To End The Fed!

Indeed. End the Fed.

Sounds so radical doesn’t it? Isn’t the Federal Reserve there to smooth out the economy, to stabilize the currency? To make sure the world doesn’t blow up?

What if I told you that it doesn’t smooth out the business cycle, but exacerbates it. That the dollar has lost 95% of its value since the establishment of the Federal Reserve. And that the world has “blown up” multiple times under the Fed regime? The world is worse for having the Fed in it.

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Yellen: No audit of the Federal Reserve

This isn’t a surprise. There is no way she would have been considered for the top job at the Fed had she been for an audit.

But we must keep the pressure on and we are thankful that Senator Vitter raised the issue.

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(The) Recovery’s Great If You Were Already Rich

I was just at a conference in Downtown Manhattan and things are good there. My hotel (which thankfully I didn’t have to pay for) was modest but cost a sum far beyond what one might pay for a comparable room in another large city in the US. A beer pushed 11 bucks. Everything was more expensive because the money printed by the Fed practically spilled out onto the street around the part of town I was staying in.

The further one gets from the Federal Reserve spigot however, the more austere the world gets. Remember, each dollar printed by the Fed reaches the guys in New York and DC first – while prices are relatively cheap. By the time these debauched dollars reach the rest of the country prices are rising and the dollar buys less.

When Ron Paul called for ending the Fed, this is one of the chief reasons why.

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The best, simplest, explanation of the US monetary system (debt, currency, money, taxes, what’s really going on) that I’ve ever seen. An important video.

Many people are mystified by the kids at the Ron Paul rallies screaming “End the Fed!”

They ask themselves, “Why should we end the Federal Reserve? The Fed helps maintain economic stability right? Every country has to have a central bank. These “End the Fed” kids are nothing but “Paulbots.” The people on CNBC and Bloomberg tell me that the Fed acts in my best interest. I think the people on Bloomberg and CNBC ought to know what’s right for me and my money.  Harry Reid is right. Those hard money people and kids at the Ron Paul speeches are nothing but a bunch of anarchists!”

But the main reason many people feel this way is because they fundamentally don’t understand what the “End the Fed” people are really saying and why they are saying it.

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Reuters Special Report: Pimco shook hands with the Fed – and made a killing

It appears that PIMCO, the world’s largest bond fund may have benefited (it appears legally) by virtue of its close relationship with the Federal Reserve. Moves by the Fed appear to have been broadcast to the investment firm and as such PIMCO was able to get in very early and to buy up a piles of mortgage backed securities (MBS) just before the Fed announced that it would start buying piles of mortgage backed securities.

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Fed admits QE did almost nothing (It was a great excuse to dump money on poorly managed banks though)

And by poorly managed banks we mean pretty much every big bank on the planet. For instance we now know that nearly half a trillion from the United States Federal Reserve was GIVEN to foreign banks. Given to them. Not even loaned at a penalty rate. Just given. How many people lost their homes now? But half a trillion was just handed to banks which aren’t even nominally “American.”

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