11 Reasons Why The Federal Reserve Should Be Abolished

Tyler Durden's picture

Submitted by Michael Snyder of The Economic Collapse blog,

If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately.  It is a system that was designed by international bankers for the benefit of international bankers, and it is systematically impoverishing the American people.

The Federal Reserve system is the primary reason why our currency has declined in value by well over 95 percent and our national debt has gotten more than 5000 times larger over the past 100 years. 

The Fed creates our "booms" and our "busts", and they have done an absolutely miserable job of managing our economy.  But why do we need a bunch of unelected private bankers to manage our economy and print our money for us in the first place?  Wouldn't our economy function much more efficiently if we allowed the free market to set interest rates? 

And according to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures".  So why is the Federal Reserve doing it?  Sadly, this is the way it works all over the globe today.  In fact, all 187 nations that belong to the IMF have a central bank.  But the truth is that there are much better alternatives.  We just need to get people educated.

The following are 11 reasons why the Federal Reserve should be abolished...

#1 The Greatest Period Of Economic Growth In The History Of The United States Happened When There Was No Central Bank

Did you know that the greatest period of economic growth in U.S. history was between the Civil War and 1913?  And guess what?  That was a period when there was no central bank in the United States at all.  The following is from Wikipedia...

The Gilded Age saw the greatest period of economic growth in American history. After the short-lived panic of 1873, the economy recovered with the advent of hard money policies and industrialization. From 1869 to 1879, the US economy grew at a rate of 6.8% for real GDP and 4.5% for real GDP per capita, despite the panic of 1873.  The economy repeated this period of growth in the 1880s, in which the wealth of the nation grew at an annual rate of 3.8%, while the GDP was also doubled.

So if our greatest period of economic prosperity was during a time when there was no Federal Reserve, then why shouldn't we try such a system again?

#2 The Federal Reserve Is Systematically Destroying The Value Of The U.S. Dollar

The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created in 1913.

If you do not believe this, just check out the inflation chart in this article.

The Federal Reserve systematically penalizes those that try to save their money.  Inflation is a tax, and the value of each one of our dollars goes down a little bit more every single day.

But over time, it really adds up.  In fact, the value of the U.S. dollar has fallen by 83 percent since 1970.

Anyone that goes to the grocery store on a regular basis knows how painful inflation can be.  The following is a list that shows how prices for many of the things that we buy on a regular basis absolutely skyrocketed between 2002 and 2012...

Eggs: 73%

Coffee: 90%

Peanut Butter: 40%

Milk: 26%

A Loaf Of White Bread: 39%

Spaghetti And Macaroni: 44%

Orange Juice: 46%

Red Delicious Apples: 43%

Beer: 25%

Wine: 60%

Electricity: 42%

Margarine: 143%

Tomatoes: 22%

Turkey: 56%

Ground Beef: 61%

Chocolate Chip Cookies: 39%

Gasoline: 158%

Even the price of water has absolutely soared in recent years.  According to USA Today, water bills have actually tripled over the past 12 years in some areas of the country.

So how can the Federal Reserve get away with claiming that we are in a "low inflation" environment?

Well, what Ben Bernanke never tells you is that the way that the government calculates inflation has changed more than 20 times since 1978.

The truth is that the real rate of inflation is somewhere between five and ten percent right now, but you will never hear about this on the mainstream news.

#3 The Federal Reserve Is A Perpetual Debt Machine

The Federal Reserve system was designed to be a trap.  The intent of the bankers was to trap the U.S. government in an endless debt spiral from which it could never possibly escape.

But most Americans don't understand this.  In fact, most Americans don't even understand where money comes from.

If you don't believe this, just go out on the street and ask regular people where money comes from.  The responses will be something like this...

"Duh - I don't know.  I've got to get home to watch American Idol."

This is why it is so important to get people educated.  I think that most Americans would be horrified to learn that the creation of more money in our system also involves the creation of more debt.

The following is a summary of money creation that comes from one of my previous articles...

When the U.S. government decides that it wants to spend another billion dollars that it does not have, it does not print up a billion dollars.


Rather, the U.S. government creates a bunch of U.S. Treasury bonds (debt) and takes them over to the Federal Reserve.


The Federal Reserve creates a billion dollars out of thin air and exchanges them for the U.S. Treasury bonds.

So what does the Federal Reserve do with those Treasury bonds?  I went on to explain what happens...

The U.S. Treasury bonds that the Federal Reserve receives in exchange for the money it has created out of nothing are auctioned off through the Federal Reserve system.


But wait.


There is a problem.


Because the U.S. government must pay interest on the Treasury bonds, the amount of debt that has been created by this transaction is greater than the amount of money that has been created.


So where will the U.S. government get the money to pay that debt?


Well, the theory is that we can get money to circulate through the economy really, really fast and tax it at a high enough rate that the government will be able to collect enough taxes to pay the debt.


But that never actually happens, does it?


And the creators of the Federal Reserve understood this as well.  They understood that the U.S. government would not have enough money to both run the government and service the national debt.  They knew that the U.S. government would have to keep borrowing even more money in an attempt to keep up with the game.

Men like Thomas Edison and Henry Ford could not understand why we would adopt such a foolish system.  For example, Thomas Edison was once quoted in the New York Times as saying the following...

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt.


Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.


But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.

Unfortunately, today most Americans don't even understand how the system works.  They just assume that we have the best system in the entire world.

Sadly, the reality is that the system is working just as the international bankers that designed it had hoped.  The United States has the largest national debt in the history of the world, and we are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day in a desperate attempt to keep the debt spiral going.

#4 The Federal Reserve Is A Centrally-Planned Financial System That Is The Antithesis Of What A Free Market System Should Be

Why do we need someone to centrally-plan our financial system?

Isn't that the kind of thing they do in communist China?

Why do we need someone to tell us what interest rates are going to be?

Why do we need someone to determine what "the target rate of inflation" should be?

If we actually had a free market system, the free market would be the one "managing" our economy.

But instead, we have become so accustomed to central planning that any alternatives seem to be absolutely unthinkable.

For example, CNBC cannot possibly imagine a world where the Fed (or some similar institution) was not running things...

But suppose the law were taken off the books? The Fed's job—in simple terms—is to manage the nation's money supply and achieve the sometimes-conflicting tasks of full employment, stable prices while fighting inflation or deflation.


How would the U.S. economy then function? Something has to take its place, right?


Global markets would also need some sort of economic direction from the U.S. The Fed manages the dollar — and as the world's leading currency, a void left by a Fed-less America could throw those markets into chaos with uncertainty about who's managing U.S. interest rates and the American economy.

I've got an idea - let's let the free market "manage" U.S. interest rates and the American economy.

I know, it's a crazy idea, but I have a sneaking suspicion that it just might work beautifully.

#5 The Federal Reserve Creates Bubbles And Busts

Do you remember the Dotcom bubble?

Or what about the housing bubble?

By dramatically distorting interest rates and financial behavior, the Federal Reserve creates economic bubbles and the corresponding economic busts.

And guess what?

Now it is happening again.

When will the American people decide that they have had enough?

If you can believe it, there have been 10 different economic recessions since 1950.  And of course the Federal Reserve even admits that it helped create the Great Depression of the 1930s.

Perhaps it is time to try something different.

#6 The Federal Reserve Is Privately Owned

It has been said that the Federal Reserve is about as "federal" as Federal Express is.

Most Americans still believe that the Federal Reserve is a "federal agency", but that is simply not true.  The following comes from factcheck.org...

The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation’s more than 8,000 banks are members of the system, and thus own the Fed banks.

And even the Federal Reserve itself has argued that it is "not an agency" of the federal government in court.

So why is there still so much confusion about this?

We should not be allowing a private entity that is owned and dominated by the banks to make decisions that dramatically affect the daily lives of all the rest of us.

#7 The Federal Reserve Greatly Favors The "Too Big To Fail" Banks

Since the Federal Reserve is owned by the banks, should we be surprised that it serves the interests of the banks?

In particular, the Fed has been extremely good to the "too big to fail" banks.

Over the past several decades, those banks have grown tremendously in both size and power.

Back in 1970, the five largest U.S. banks held 17 percent of all U.S. banking industry assets.

Today, the five largest U.S. banks hold 52 percent of all U.S. banking industry assets.

#8 The Federal Reserve Gives Secret Bailouts To Their Friends

The Federal Reserve is the only institution in America that can print money out of thin air and loan it to their friends any time they want to.

For example, did you know that the Federal Reserve made 16 trillion dollars in secret loans to their friends during the last financial crisis?

The following list is taken directly from page 131 of a GAO audit report, and it shows which banks received secret loans from the Fed...

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

If you will notice, a number of the banks listed above are foreign banks.

Why is the Fed allowed to print money out of thin air and lend it to foreign banks?

#9 The Federal Reserve Is Paying Banks Not To Lend Money

Did you know that the Federal Reserve is actually paying U.S. banks not to lend money?

That doesn't make sense.  Our economy is based on credit, and small businesses desperately need loans in order to operate.

But the Fed has decided to pay banks not to risk their money.  Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on "excess reserves" that U.S. banks park at the Fed.

So the big banks can just send their cash to the Fed and watch the money come rolling in risk-free.

As the chart below demonstrates, the banks have taken great advantage of this tremendous deal...

Excess Reserves Parked At The Federal Reserve

#10 The Federal Reserve Has An Astounding Track Record Of Failure

Over the past ten years, the Federal Reserve has been an abysmal failure when it comes to running the economy.

But despite a track record of failure that would make the Chicago Cubs look like a roaring success, Barack Obama actually decided to nominate Ben Bernanke for a second term as the Chairman of the Federal Reserve.

What a mistake.

Just check out some of the things that Bernanke said prior to the last financial crisis.  The following is an extended excerpt from an article that I published previously...


In 2005, Bernanke said that we shouldn't worry because housing prices had never declined on a nationwide basis before and he said that he believed that the U.S. would continue to experience close to "full employment"....

"We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though."

In 2005, Bernanke also said that he believed that derivatives were perfectly safe and posed no danger to financial markets....

"With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly."

In 2006, Bernanke said that housing prices would probably keep rising....

"Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise."

In 2007, Bernanke insisted that there was not a problem with subprime mortgages....

"At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."

In 2008, Bernanke said that a recession was not coming....

"The Federal Reserve is not currently forecasting a recession."

A few months before Fannie Mae and Freddie Mac collapsed, Bernanke insisted that they were totally secure....

"The GSEs are adequately capitalized. They are in no danger of failing."


There are many, many more examples that could be listed, but hopefully you get the point.

And now it is happening again.  Bernanke is telling the American people that everything is going to be just fine and that no major problems are ahead.

Do you believe him this time?

#11 The Federal Reserve Is Unaccountable To The American People

What is the most important political issue to most Americans?

Survey after survey has shown that the American people care about the economy more than anything else.

So why do we allow an unelected, unaccountable entity that is privately-owned to make our economic decisions for us?

The Federal Reserve has become so powerful that it has been called "the fourth branch of government".  Every four years, presidential candidates argue about who will be best at managing the economy, but the truth is that it is the Fed that manages our economy.

We are told that the "independence" of the Federal Reserve is absolutely critical, but don't the American people deserve to have a say in the running of the economy?

Our system is broken.  It is a system that will continue to create more bubbles and more debt until the entire thing finally collapses for good.

Thomas Jefferson once stated that if he could add just one more amendment to the U.S. Constitution it would be a ban on all government borrowing....

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

But instead of banning government borrowing, we have allowed ourselves to become enslaved to a system where government borrowing actually creates our money.

We do not need to have a central bank.  There are much better alternatives.  We just need to get people educated.

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knicks3005's picture

12. We all can't stand Bernanke's smug face.

markmotive's picture

Ironically the Federal Reserve has led to both the Rise and the Fall of the American Empire.


SafelyGraze's picture

let's play "Asset? Liability? Negotiable Instrument? Zero-coupon Bond? Or Money?"


spoiler: it's a "check" from the "board of governors of the federal reserve" drawn on the federal reserve "bank" of richmond

but who will clear that check?

Manthong's picture

OT, but….

It will be instructive to know how many government dollars were sent here..

I bet way more than the $100K to our Chechen Bostonian buds..





GetZeeGold's picture



Jekyll Island bitchez......let my people go!!!

Boris Alatovkrap's picture

Inflation? what is inflation?!

Urban Redneck's picture

Oh, the IRONY... and the SOCIAL CONDITIONING... the Federal Reserve System doesn't manage the money supply.  The Federal Reserve System IS the money supply.

Look at the check- to GATA of all (corporate) people- what most people think of as the account number and routing number are misconceptions.

The check is drawn on the Club Account of FRBR (Richmond) and would be deposited to a Member Account of FRBB (Boston routing) because GATA is headquartered in Connecticut (and I would assume it banks in the neighborhood).  And once moved to FRBB, GATA may write checks, direct deposit, or wire funds, to other FRB accounts, but the money NEVER leaves or even exists independent of the FRB system, unless GATA demands paper federal reserve Notes.  It wasn't convertibility that was killed by FDR it was redeemability, the most redeeming feature possible in a fiat currency.  The ability to walk into a bank and REDEEM a note for specie that had "some" value completely independent of FED control, after that it was only the Central Banker club who were allowed to do so (until Nixon realized that scam wasn't working as needed).

The routing number is the account number.  What most people think of as the account number is just a sheeple ID as to who foots the bill if a club member needs to do some Corzining.  Money doesn't exist because or when a depositor and bank agree that the money exists, money exists only when a MEMBER bank and the local FRB CLUB agree that it exists.  If the is no agreement between the club and the membership, your deposit is Corzined.

Banking 101.

(and FRBB will clear the check by the way)

krispkritter's picture

That's a face?  I thought it was something a monkey wanted back when he found out his ass was missing...(and hey, I should know!)

Vic Odd's picture

12. It is unconstitutional.

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

Thomas Jefferson(Attributed)
SMG's picture

#1 reason to abolish the FED.  It's a tool of the Elite to impoverish and enslave us all.

Ignatius's picture

The Fed is for the purpose of keeping us in debt and controlling that debt.

The creditor is servant to the lender. 

Therefore, no real sovereignty.

Kill the bank.

MiltonFriedmansNightmare's picture

"These go to 11" (spoken in a British accent).....

francis_sawyer's picture

"If the American people truly understood how the Federal Reserve system works and what it has done to us, they would be screaming for it to be abolished immediately."


No they fucking wouldn't...

You'd have the majority begging for them to turn the EBT card machine back on & give them a new ObamaFone... Even Sally soccer mom wants the music to play at least long enough for her little shithead with the 6th place trophy wall to get thru college...

Then... Most of All... Do you really think Sheldon Adelson, Lloyd Blankfein, Jack Lew, Penny Pritzer, Carl Ichan & friends want the party to end?

SMG's picture


The people you mentioned are Satanic, not Jewish.   They gave up their faith for power. Please tell me what I can do to convince you that the people behind the curtain (top of the pyramid) are not Jewish as you constantly try to suggest.  Because I want you to become an agent of truth, and help the common person to be free.

Your buddy,



francis_sawyer's picture

Well then... If your statement is correct that 'they gave up their FAITH for POWER'... Then let's explore that angle [just as 'mental gymnastics' for me, because I've said about a million times that RELIGION HAS NOTHING TO DO WITH IT]...


But if it did... [I said 'IF' there people]

Then 'Judiasm' must be one fucked up faith to have such a large & disproportionate/asymmetric number of it's people giving up on it & converting to SATANISM...

Unless they're ALL just born a bunch of Rosemary's Baby's or something...

francis_sawyer's picture


SMG's picture

Wrong again.  Only the people at the very top of judiasm have converted, much as the very top at the vatican, and the very top of islam, and the very top of mormons, and the very top of the United States of America, and the very top of just about every other nation or beleif.  The common Jew, the common christain, the common muslim, the common anything is to suffer and be exterminated by the Satanic Elite whom you support.  The real enemy is "The Father of Lies".

Please stop supporting evil. 

francis_sawyer's picture

"only the people at the top [of all these things you mention] have CONVERTED"


Oh I see... What happens is, the deeper you get into something, you finally reach the point where you just chuck it all & become a devil worshipper... Alright ~ You win... I'll put a muzzle on it & in that instant, it'll all vanish into nothingness ushering in 1,000 years of peace & prosperity...


Fuck ~ at minimum... Even if everything I say is horseshit... It would make a nice fiction novel... So somebody ought to get busy... start plagiarizing all my psychobabble... & coin themselves some SATANBUX...

palmereldritch's picture

LUCIFERBUX might be a more accurate term.  They worship Lucifer the Light Bearer.


This doesn't look like Judaica does it? Although they appropriate symbols shared by Jews and Masons for their corrupt signage.

Oh and appropriately (or suspiciously) for this article, the number 11 is very important to them.  It is their crypto 'pause' control number.  Look for it on every currency they control.

francis_sawyer's picture

How the hell do I know what 'Judaica' looks like?... According to the story, no sooner did the Exodus occur, then the Hebrews began banging out a golden calf to worship... So for all I know, this is their god right here...



Disenchanted's picture

re: Exodus


What if the Exodus was never about the 'Israelites' escaping Egypt, but about them being 'run out of town?'

In the story(fairytale?) written after the fact some facts were changed for purely propagandic reasons.

After all Joseph supposedly entered Egypt as a slave, but after interpreting a dream for the king became ruler over all the land of Egypt.

Or so the story goes...


Sometimes the best of intentions can lead to tragic outcomes. In Parshat Vayigash, Joseph has his hands full managing the seven years of catastrophic famine that have followed seven years of prosperity.1 The Egyptian people are starving while Pharaoh has food, having stored much of the harvest during years of plenty. But the people’s ability to buy grain disappears along with their savings. The famine has yet to play out its course, so Joseph begins to collect their possessions for the king: first their livestock, then their land and finally their personhood.2 To avoid death, the Egyptian people become slaves to Pharaoh, foreshadowing the Israelite enslavement in Exodus.


Despite our own moral indignation that the price of avoiding starvation is slavery, The Torah does not condemn Joseph for his actions. The commentator Nahum Sarna suggests that the biblical text “shift[s] the onus of responsibility for the fate of the peasants from Joseph to the Egyptians themselves. The peasants initiate the idea of their own enslavement (v. 19) and even express gratitude when it is implemented!”3



Sound familiar? We're all Egyptians now...bitchez.

btw quote is from: http://ajws.org/what_we_do/education/publications/dvar_tzedek/5770/vayig...

Anusocracy's picture

The Jewish people are disproportionately represented in the highly intelligent and in highly capable psychopaths.

The 'evil' being done is being done by those who feel no qualms about manipulating, controlling, or using people as objects. They have flawed minds, misshapen consciences, and are almost like another species.

Homo predacious is appropriate.


palmereldritch's picture

Hate is the criminal elite's most effective control weapon. It’s the '11 of emotions', a corrupt and manipulated anger.

Sadly, a basic human feature, it is fostered and cultivated in all groups: political, religious, ethnic...to employ divide and conquer or produce chaos upon which control and order is then imposed.  And yes, they employ and develop high functioning sociopaths and psychopaths but from all groups to serve their purposes.  Birds of a feather so to speak.

francis_sawyer's picture

highly intelligent and in highly capable psychopaths


So, by definition, Paul Krugman, who thinks that we need space aliens to come & break windows to improve GDP, Bernanke, who just sits there with his finger on the Ctrl+P button, Netanyahi, who has his finger on the nuke button, plus, Rubin & Summers, & whatever they happen to be dismantling at the moment are all "highly capable"...

I'm finally starting to see the light...

PrDtR's picture

Brother you truly "SEE" the truth..

The TRUE religion of THIS WORLD masquerades behind secret doors.. in secret societies and is not considered religion..

Study the TRUTH behind the "Bohemian Grove" and know that they worship a Luciferian master!

Read the conversion of atheist Dr Maurice Rawlings in his books .. "Beyond Death's Door" + "To HELL and Back" where he recounts the experiences of his patients who found themselves in HELL after they had "died" then were resuscitated! ..Terrifying..


S I N !!!


ZerOhead's picture


You had me at Satanic...

(Of course Satan was just a fallen Angel whose crime was that he loved god too much... if you believe in Fairy tales that is...)

francis_sawyer's picture

It's fucking non-stop comedy on the Hedge...

Gmacks's picture

Why are you even here and making comments? You're like that guy who makes fun of gay people because he can't handle the truth about himself being gay. Take a hike dude maybe ill toss you a silver dime once this is all over.

francis_sawyer's picture

I never said anything about gays... I don't give a shit one way or another if your gay or not... For that matter ~ I don't give a shit whether you're jewish, AA, male, female, indian, or fucking Sasquatch... This is about 'behavior'... & I'm curious as to why one particular tribe has so many involved in this corrupt behavior... By comparison, women are more than 50% of the population & are far less represented... Maybe they just need a little more time...


As for 'wannabe'... Yeah right ~ I can't wait to trade in my baby back ribs for gefilte fish...

StychoKiller's picture

Obviously, you've never read "Paradise Lost" by Milton.

PrDtR's picture

It is INDEED satanic power behind the curtain..

But most people are blind to it.. they believe in UFOs more than a living, loving GOD.. they refuse to accept the GIFT OF SALVATION..

The UFOS they believe in are fallen angels, demonic in origin.. study the evidence..

Watch: "UFOs the hidden truth" on youtube and study carefully.. you may find yourself picking up a Bible to see what is in it!

DirkDiggler11's picture

Every member of the Fed should be tried for treason, drug out in Public and executed via a firing squad on the beach in Brunswick Ga.

Speaking of the bastards that are destroying our currency, I've noticed that the margins above spot on ASE coins and others have started to fall at most of the major coins dealers. Contrary to the metal pimps at KWN where the currency is about to collapse and the price of Gold And Silver are going to go parabolic any second now, It does appear that the supply constraints must be starting to ease and demand soften for the dealers to lower their premiums. Worth keeping an eye on, but don't tell this to John Embry, it will just break his little heart ....

MiltonFriedmansNightmare's picture

If The Creature from Jekyll Island was required High School reading, there is a chance, just a chance, that the world would be a better place; then again, maybe  I'm just being optimistic for no particular reason....

RebelDevil's picture

That, and "Confessions of an Economic Hitman".

Seems more exciting than "A Lesson Before Dying", right?

Urban Redneck's picture

That's the problem, people don't study the classics or have any capacity for reason or critical thought anymore.  Those people need some sexed-up, Hollydumbed-down version of events to even generally grasp where the problem lies.   Then they run around preaching verbatim the dogma of dystopian entertainment with the naive enthusiasm of a terrorist armed with God's literal truth.     

BoNeSxxx's picture

Where are you seeing the decreased premiums?  Still almost $100 on au and almost $7 on ag over at Apmex... Do tell.

And the premium they are willing to pay the seller is close to $50/$3.  I remember not too long ago the 'buy' price was equal to spot.

devo's picture

A lot of correlation being passed off as causation in the post.

For example:

The Greatest Period Of Economic Growth In The History Of The United States Happened When There Was No Central Bank

Nothing about that proves cause. Growth could have been as high or higher with a CB.

There's 1 reason to abolish them that's undeniable, and that is currency debasement/price instability.

BoNeSxxx's picture

I'll see your #1 and raise you 1.

The US Congress shirked their Constitutional mandate to control the money.  Plain and simple.  The framers understood the danger the money changers posed to liberty.

Xanadu_doo's picture

"The framers understood the danger the money changers posed to liberty."


(so did jesus)

Blankenstein's picture

And here is the Chairsatan letting Congress know who is in charge -


MythicalFish's picture

Just crunched the numbers a bit.. (based on Credit Suisse's estimate of 195tln global wealth) with a 50% haircut on all outstanding sovereign debt and 25% haircut for old uninsured bank balances vs new dollars, the gold standard could be reestablished at the reasonable rate of 16000 new dollars per ounce of gold. This might actually be "good" for the stock market too, at least relative to other ponzis.

Call me, Ben, if you're keen about the details.

Yen Cross's picture

  I agree with the author of this article 100%. Who do we put in charge of printing money, after the Fed. is shut down?


    I have some Russian.Jewish friends in mind?

denverdolomte's picture

11 reasons? This could go both ways, we could list a thousand reasons both fact and conspiracy or we could just list one :: They are not an entity of the United States of America, hence they have no vested interest in the growth and prosperity of its citizens. 

MiltonFriedmansNightmare's picture

Majority owned by foreign interests, i.e. Rothschilds et al? Wouldn't be a bit surprised.

denverdolomte's picture

I have tried numerous times to do unbiased research on the basis of power. Through vast arrays of research I can't link the Rothchilds to much more than previous foreign banking and purchases of a few mega corps. I feel people like Dimon and such hold much more power in the world structure, along with oil families between the two I feel they hold so much of the world power its beyond money and reality. The megacorp people and megabank people don't live on the same plane as the rest of us, this is not conspiracy based, look at their troubled past and arraignments, funny that they can all cost billions upon billions to the world while making the same amounts, yet only be smacked on the wrist will a measily few million dollar fine. 

Yes I agree with foreign interests, just personally beyond speculation I have not be able to tie anything current to the Rothcrapples.