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Unmasking the Federal Reserve

CrownThomas's picture




 

In the following clip, Joseph Salerno, Economics Professor at Pace University (and gasp, Austrian Economist) destroys basically the entire "About Us" page of the Federal Reserve.

Enjoy.

 

 

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Thu, 03/15/2012 - 13:51 | 2258635 Thamesford
Thamesford's picture

IMPORTANT QUESTION:

I realize when the FED digitizes money out of thin air and buys assets, that appears on the FED's balance sheet.

However, with the claimed $11Trn added to the money supply plus the borrowing created by the banks borrowing form the FED - where are these assets recorded? I understand with the fractional reserve banking, one bank's loan is another banks FED deposit for more borrowing but the multiplier doesn't appear to be reflected in the published balance sheet?

Has this topic been answered in any historical ZH articles?

Thanks

 

 

 

 

Wed, 03/14/2012 - 09:12 | 2253602 engineertheeconomy
engineertheeconomy's picture

This is how the Federal Reserve is screwing you over

http://thelibertyclub.net/emry.pdf

 

Wed, 03/14/2012 - 10:35 | 2254039 gaoptimize
gaoptimize's picture

Fine for mid-1990's, but it needs to be updated.  Several numbers (debt, interest rates, prices) have changed substantially.  It also doesn't address the fundamental problem of Government income transfer payments well, given its call for Government to control the creation of money.  I'm sure it could be written better if updated.

Wed, 03/14/2012 - 10:15 | 2253902 Son of Loki
Son of Loki's picture

I just finished The Creatire from Jekyll Island by Griffin, A Look at the Federal Reserve."

It's a must read if you ever want to understand this stuff.

 

GL!

Wed, 03/14/2012 - 09:03 | 2253553 Money 4 Nothing
Money 4 Nothing's picture

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

http://www.jesus-is-savior.com/Evils%20in%20Government/Federal%20Reserve%20Scam/quotes_on_the_federal_reserve.htm

Are we really becoming better as a Nation? The Fed's primary job was to keep inflation under control. Or at least that's what they swore to do.

Wed, 03/14/2012 - 14:02 | 2255114 Alpha Monkey
Alpha Monkey's picture

Isn't my dog such a cute puppy.  Hey puppy.... - Meow. says the "dog".

 

Wed, 03/14/2012 - 08:57 | 2253542 Corrupt F ups
Corrupt F ups's picture

In order to end the fed we need to address the debts accumulated under inflationary assumptions.

The greenback party fought for inflation as loans were easier to pay back.  Under a hard currency many farmers were bankrupted as prices/profits fell but loan payments did not.

http://www.u-s-history.com/pages/h212.html

Wed, 03/14/2012 - 08:26 | 2253465 Norma Lacy
Norma Lacy's picture

He started off pretty well  but when it degenerated into an ad for disgusting cadillac suvs which his wife "has to have" he lost me altogether.

Wed, 03/14/2012 - 07:33 | 2253328 TooBearish
TooBearish's picture

Republic?- what republic are u referring to sir? these arrogant bastards KNOW they are in total control of YOUR life....

Wed, 03/14/2012 - 07:32 | 2253326 non_anon
non_anon's picture

since 1913, and still among us

Wed, 03/14/2012 - 07:35 | 2253333 lakecity55
lakecity55's picture

"Pinky, this must NOT get out. It will ruin my plans to Rule The World!"

"Uh, sure, Brain."

"Call the Taupe Wonder. I have orders for him."

Wed, 03/14/2012 - 15:31 | 2255467 XitSam
XitSam's picture

Narf!

Wed, 03/14/2012 - 07:24 | 2253318 innsbrooklad
innsbrooklad's picture

Like the bank stress test..Who made the rules...The FED...They can do anything they want.

CBO just riased trhe 2012 deficit estimate and February was the biggest shortfall for one month ever. Do you think anyone cares????

The fellow that said get usede to it is right..These people will keep prining money and hiding the truth as long as they can.

Wed, 03/14/2012 - 09:34 | 2253681 engineertheeconomy
engineertheeconomy's picture

The entire government is a pyramid scheme ponzi scam, their only motive is to impoverish society and keep them enslaved for eternity. 

Prepared for hyperinflation? 

Wed, 03/14/2012 - 07:14 | 2253307 alexwest
alexwest's picture

looks more like a political hack than real economist

alx

Wed, 03/14/2012 - 07:01 | 2253296 Wakanda
Wakanda's picture

You go Joe!

Wed, 03/14/2012 - 06:51 | 2253288 Boilermaker
Boilermaker's picture

Hey, FUTURES ARE UP!

You're pissing up a rope, kid.  The FED is in full fucking control of EVERYTHING which includes you.

Get used to it.  It's going to get worse.

Wed, 03/14/2012 - 05:59 | 2253260 Pseudolus
Pseudolus's picture

Now, not so fast . . .
I didn't think . . .
The way I am ,
I have a roof,
Three meals a day,
And I don't have to pay a thing,
I'm just a slave and everything's free.
If I were free.
Then nothing would be free.
And if I'm beaten now and then,
What does it matter?

Wed, 03/14/2012 - 09:07 | 2253583 alien-IQ
alien-IQ's picture

"I have a roof,
Three meals a day,
And I don't have to pay a thing"

Uh...prison?

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