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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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

 

 

 

 

engineertheeconomy's picture

This is how the Federal Reserve is screwing you over

http://thelibertyclub.net/emry.pdf

 

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.

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!

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.

Alpha Monkey's picture

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

 

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

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.

TooBearish's picture

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

non_anon's picture

since 1913, and still among us

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."

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.

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? 

alexwest's picture

looks more like a political hack than real economist

alx

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.

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?

alien-IQ's picture

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

Uh...prison?