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How The Fed Has Failed The Nation (In One Chart)
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
There is only one way to end the financial tyranny of the Federal Reserve - abolish it, and put an end to the predatory pathologies of its policies.
The Federal Reserve has failed not just the nation and the U.S. economy, but more importantly, the American people that it supposedly serves. It has also failed the world, by showing other central banks that they can reward private banks and top .01% with absolute impunity.
The supposed goal of the Fed's zero-interest rate policy (ZIRP) and quantitative easing (QE) was to make borrowing easier for both corporations and consumers, the idea being companies would borrow to invest in new productive capacity and consumers would buy the new goods and services being produced with cheap credit.
The secondary publicly stated goal was to spark a rally in stocks, bonds and real estate that would spark a wealth effect: as households saw their net worth rise, they would feel wealthier and thus more likely to buy goods and services they didn't need on credit.
The real reason for ZIRP and QE was to rebuild the balance sheets and profits of banks on the backs of savers who have earned near-zero thanks to the Fed's manipulation of markets. But setting aside the obvious success of the Fed's real goals--enriching the banks and the super-wealthy who have access to near-zero interest credit--let's see what corporations did with the Fed's nearly-free money.
Did they invest in new productive capacity? No, they bought back their own stocks--trillions of dollars worth, to boost stock prices and managerial bonuses. Note what happened when the last stock buyback binge faded: stocks crashed.
The great stock buyback binge (Fortune.com)
The Fed's free money for financiers enriched the top layer of corporate management and the top 1% who own most of the nation's equities. You can read the details here: Factset Buyback Quarterly.
The other group of financiers with access to the Fed's free money for financiers has been private equity. So did the private equity multi-millionaires borrow the Fed's largesse to build new plant and hire new employees? Did they invest the borrowed billions in productive startups?
No--they used the money to buy existing companies and bleed them dry. The Glory Days of Private Equity Are Over (Via Mark G.):
Private equity has been holding back the economy. When you buy out a drugstore chain or car-rental company and load it with debt, you aren’t investing in the productivity of the economy. More often, by cutting back on new products and services, you are removing productivity from the economy. While generating wealth for endowments and pension funds, private equity can destroy wealth in the economy—my guess is 0.5%-1% lower gross domestic product in an already subpar recovery.
There you have it: the Fed has lowered productivity and GDP and stripmined savers, widows and orphans to further enrich the obscenely wealthy. Recall this from my entry last week, Will Cash Always Be Trash, Or Will It One Day Be King?
Between 2009 and 2012, the first years of the economic recovery, the top 1% saw their incomes climb 31.4% — or, 95% of the total gain — while the bottom 99% saw growth of 0.4%.
There is only one way to end the financial tyranny of the Federal Reserve--abolish it, and put an end to the predatory pathologies of its policies
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But liquidating assets would kill the markets worldwide.
and your point would be? I hope that is sarcasm, the illegal Fed needs to be liquidated, and be damned the consequences!
Private equity as been flooding into the heavy construction equipment rental business for about 7 years. An industry that was largely dominated by multi-generational family companies is now almost 50% large multi-billion dollar multinational conglomerates pieced togther from PE guys running around and buying out small-mid sized family companies, then turning to the next PE boob in line and says - hey look we "grew" this company 20% in 18mnths and sell it for 10x Ebitda - then that guy goes around buying up more small to mid size family companies and turns to the next PE boob in line ..... rinse and repeat.
Even Buffet got in on the action
http://www.marmoncranes.com/
“How The Fed Has Failed The Nation"
Success through failure..
And now, as a thank you for being good little slaves for a century, they are going to declare martial law and send us to Hitlary's fun camps under the guise of Jade Helm. God help us.
Don't worry about it too much, guys. When the next downturn hits a lot of those companies are going to be selling those repurchased shares right back into a down market at pennies on the dollar to when they were bought. Thry will have NO CHOICE in the matter. They will be FORCED to raise capital, regardless of the round-trip loss on the whole sloppy mess.
The previous CEO who enriched himself on the upswing will, of course, be long gone by then with his millions.
Another ridiculous amalysis
Tyler wouldn't know a Fed failure from a gold pump and dump scam. and he knows all about the latter
https://www.youtube.com/watch?v=HUWP_Q2MNS0
Tyler didn't write the article. Maybe read it before commenting.
I thought CHS was pretty well spot on in regard to the FED and CB's.
But Bernanke said he was worried about the seniors!
You sayin' you hate old folks?
We stripped mined some folks.......
Amex Black won't get you far enough for the stick save.
That is exactly what is going to happen. Corps will buy high and sell low. Its not their money after all.
And while Hugh Smith is a bit over the top, there is no other conclusion but that the fed must be stopped.
TPTB would like that, at this point. They get out from under the bad loans, at our expense(hyperinflation), unfortunately.
http://redefininggod.com/nwo-schedule-of-implementation/
nodebt, you are spot on, and the next downturn will be a super crash, ain't no stoppin it now...some poor puke just said you cant "amalyze", lol, ugh, where do these idiots crawl out from under? An amoeba has more brains than them...
This place is going
To shit no debt without the old guys like Knucks headbanger kaiser drengali and the bearing dude etc Ianm outa here
teamdepends, they wont be taking me anywhere but in a body bag! Molon Labe!
With you brother!
“How The Fed Has Failed The Nation (in two words)"
its birth
On a happier note to my first post I will say I have seen most of those family business owners walk away with VERY handsome payouts in the high 8 figure range.......
Well yes! That is why the masters of Wall Street fancy themselves demi-gods / superior beings, granting great wealth to those they choose to anoint. They are just in the position of directing funding. That does not mean that they are doing it well or correctly.
Ego driven psychosis. Euthanize.
If the choice is between listening to a doomer with a guitar (Charles Hugh-Smith) or directing funding, any rational actor would choose directing funding. Doing it well or correctly is an opinion and irrelevant.
Great - so these families walk away with lots of money, then the company is driven into the ground destroying what little manufacturing or actual productive companies we have in the US. It's like being happy that the local 120 acre farm got sold to a developer that will build McMansions on it...
So, worthless fiat in exchange for valuable entities is a great bargain?
In other words, trade income producing asset for an asset which loses value until zero.
Depends on what you do with said fiat afterwards now doesn't it ?
You also just traded your original asset for 10x's what it was making you.
Absolutely correct Unix. Unfortunately, those empowered to end it are the ones that benefit from its existence. We need a Magna Carta moment with Congress to ever get them to act.
grgy, the congress are fools on a fools errand, protecting themselves and the 1%, they could care less about their constituants, and look to line their pockets with as much cash as they can. Don't be fooled by the lies and rhetoric they drivel on about...it will take more than a magna carta moment. They are all in on the power grab, D's, R's and I's, I say get RID of them all, scumbags! Vote every incumbant out that we can, and start with regular Joe's. Problem is there is over half the population on the govt dole, so that will never happen. While the banskters line their pockets with our sweat equity, and work both sides of wars, with Wall Street gaming EVERYONE! Fuck 'em all!!!
Like they say, you could find 458 names in the phone book to replace all of the crooks in DC.
Yeah, and get rid of the unconstitutional income tax along with it. Good riddance!
"Private Equity" was always just a euphamism for "Asset Stripping" or "Leveraged Buyout". It's cute attempt to suggest that it is what it isn't. Private Equity suggests nice folks putting their own money into equity stakes in Companies to help them out. Nothing could be further from the truth....
And The Fed is owned by the TBTF's whose CEO's sit on the Board of the NY Fed. If that isn't a conflict of interests I don't know what is. The Fed is the crux of all these problems.
The Guitar Center fiasco is a classic case.
http://www.pacbiztimes.com/2014/03/14/bain-capital-debt-strikes-sour-not...
Pretty typical private equity scenario. Pile debt on to a company that has flat or receding sales due to down business cycle. Reward yourself hansomely, cut headcount / service / quality etc. Spin, repeat.
As the FED's mission statement is to fight inflation. Yea right! Just the opposite. They are desperate to get some going this minute but the consumer has been pounded down way too far.
It's all rigged, all of it.
https://www.youtube.com/watch?v=qBCUCJNWimo
Reset the markets so price discovery can allocate capital. Not what is currenly happening.
Arrest the ChairSatan. Put her on display and charge admission.
But what will you do with the five bucks that generates?
When fraud is the status quo, possession is the law... A dependable tribe is important too...
that is all.
Well it is an illegal entity, if one looks at things honestly, brought into being by backroom deals and over a Christmas holiday! The Fed needs to be abolished, along with the host of alphabet agencies who control our lives in minutia.
To the controllers (liberals/socialists/communists/fascists) or statists, here is what I have to say to you:
YOUR CONTROL of my life ENDS and your FRONT DOOR!
Go suck eggs and get the hell out of my life, I don't want or need ya!
Fed's real goals--enriching the banks
The banks own the Fed.....did you think they worked for we the people?
It's the ultimate get out of jail free card.
Fed serves it's purpose, makes a lot of folks suffer so a few fats cats can get rich. Bottom line.
Nothing more than power and control, just follow the money to find both...
It's always about power and control; we're dealing with psychopathic dynasties here. And following the money is the single most important key to understanding what these parasites are doing.
Indeed, I am glad someone (you) concurs, and I bet 99% of ZH posters would agree!
Pretty easy to do when the sheeple (including CHS in this case) refer to the Fed as having "Failed the Nation." The idea that these people ever sought to serve an abstraction known as a "nation" is beyond asinine, as reality is filled with tangible individuals while 'nations' (and all other collective abstractions) exist only in the mind.
It seems that the human trait of pattern recognition is well leveraged in a world of symbolism in order create/manipulate belief systems to ones' liking.
<< The real reason for ZIRP and QE was to rebuild the balance sheets and profits of banks on the backs of savers who have earned near-zero thanks to the Fed's manipulation of markets. But setting aside the obvious success of the Fed's real goals--enriching the banks and the super-wealthy who have access to near-zero interest credit--let's see what corporations did with the Fed's nearly-free money. >>
The key paragraph.
Need to Iceland all living current and former Federal Reserve Board Governors. All willing criminals.
And then follow with investigations of those in .gov who "supported".
GOLD BITCHEZ!
OT: Cue BATS self help....looks like another dip lower. Someone get the fib paddles ready!
But if we abolished the Fed, wouldn't stocks go down? Wouldn't this hurt all the billionaires we created? I'm still haunted by the shame and pain in Dick Fuld's eyes when he was testifying before Congress. His net worth plummetted to a mere $750 million when Lehman was unjustly collapsed. Imagine the shame and humliliation he sufered when having to face his daughter knowing that they were no longer members of the billionaire's club. Paulsen and Blankfein should be ashamed of themselves - If the American people can bail them out, there should have been enough for Dick too. The unjustness of it all.
Mitt Romney approves this message
The rising USD will crush Q2 guidance and most commodities will dive even further.
Deflationary times have been here for a number of years, but masked. When the mask gets pulled, it's going to get fugly out there.
The market hurt orphans...That settles it... I'm boycotting the market... Umm..As soon as buying the dip stops working.
I feel so guilty making money on the backs of orphans. Maybe I should wait for them to sell?
What to do what to do...
Very insightful.
Yellen and the federal government Hayes orphans and loves the rich. What a conspiracy!!!Maybe if those little orphans could vote they wouldn't be left out in the cold.. Did they ever think of that? Losers... No wonder their parents abandoned them. Maybe the fed is on to something...
The sun'll come up... Tomorrow... Bet your bottom reserve currency tomorow...
The libs warned us about orphans.
Just don’t end the ‘conservative’ Social Security program.
Maybe Tyler is using speech-to-text and said "whore fans" instead of orphans...
I can see how this is hurting whore fans.. clearly.
And that is why limited liability is an incredibly bad idea which ought to have been left for dead in the 17th century.
If you're a major shareholder of a firm, all you have to do to make money is load your firm up on debt, hand the money out as dividends and stock buybacks, and leave town with the money before the firm's creditors realize they've been had, secure in the knowledge that your former firm's debts are not your problem.
QE just makes it easier to do on a grand scale. The big boys are exploiting what remains of the credibility of the USD and EUR to cash out of the developed world at a record pace and stiff their former debt-peons on their life savings, along with forcing the proles to pay Swedish taxes to enjoy Moldovan wages and South African crime rates.
They will, of course, blame the inevitable bankruptcies on "high unit labour costs" and "unsustainable pension obligations."
(It's happening more quickly in Europe because a war is looming on the horizon the banksters know they will lose, and want out before they salt Europe's fields with cobalt in advance of the arrival of Russian troops.)
Where is it written FED is supposed to serve American people?
Where is it written that American people must accept a screwing from the Fed?
That's been the more recent marketing claim.
The purpose of the private Federal Reserve Corporation was to enrich the elders of zion shareholders beyond their wildest imagination by stealing it from America.
Probably has something to do with why Warburg and the rest of the syndicate tyrants had to wear disguises and shuffle off in secret to Jeckyl Island to get the ball rolling in 1913 after they bribed Benedict Woodrow Wilson.
Now here in 2015.....Mission Accomplished. Fewer than 100 pathological zionist mobsters rule over six billion donkeys.
.
Who are those mobsters you're referring to, and how do you know?
Trust me, the actual Zionists who keep Israel from being overrun by sandniggers are as sick of the banksters' shit as anyone. The reason Israel has nukes is that nothing short of a credible threat of blowing the banksters to hell gets them to take you seriously.
Banksterism is in nobody's interest. They bankrolled the Jewish Holocaust, and they'll bankroll the extinction of all mankind.
We need to get rid of the govt's fiat money even more urgently than we need to get rid of the Fed. If people were free to use anything they agreed upon as money, the Fed would lose most of its power.
gee, a private banking cartel failed "USA" when all along USA could have should have printed their own money itself.
Yea It'd be nice if more people were aware of this fact. AND cared.
Have you ever tried to explain it to someone? People dont want to know. they dont get it, and that makes them mad. so they dont want to hear it. The creation of the Fed is so crazy and unbelievable that it sounds fake. Nobody could do that...and get away with it..could they?
although i completely agree the fed has only allowed for peak financial engineering...the prior peak was associated with a rapid increase in fed funds. i'm actually amazed we haven't had way more buybacks...although that probably means that the economy is that weak.
It was anemic. Now it's dead.
Good one. If anything the FED is getting stronger by the day.
Congressman Louis T. McFadden; Chairman of the House Banking Committee, May 4th, 1933See;
https://archive.org/stream/CongressmanMcfaddenOnTheFederalReserveCorpora...
God bless all!
At least we got Obamacare!
....and Agenda 21 lunch menus in high schools.....get use to it bitchez.
Be gone with your little Twitter protests.
the fed ain't going nowhere. Because 99 percent of the people think everything is AWESOME. Mission accomplished.
Cage match between the Dallas Fed and the NY Fed members.
To the death.
The Fed is also financing the government, explicitly by buying bonds and rebating interest, and implicitly by keeping the rate of interest suppressed. A suppressed interest rate allows the gov to make even more wasteful spending decisions.
Gov financiing allows gov spending to replace consumer spending, thus a more blatant transition from a consumer "economy" to a gov controlled Soviet style system (this existed before however now more blatant).
Gov then decides how to transfer wealth and pick winners/losers via taxation, chrony contracts, and welfare distribution.
nice.
um, they didn't fail bitchez
The Fed has only done what it is supposed to. Had it not done that then the last crisis might well have been TEOTFWASKI - complete breakdown of the system. The FED bailed out the banks, and the US government, yet the threat of a currency crisis is still very real... a currency melt-down vis-a-vis (real) money (yellow and shiny). But I'm pretty sure that when the next crisis hits, the TBTFs will be long gold on paper and the physical kind (on top of holding tons of mining shares or flat out owning bankrupt mines like allied nevada - which they were NOT 7 years ago - and thus they might make it through the coming storm, contrary to what I thought a couple of years ago. The fiat ponzi will break, and *they* know it, probably way better than any and all on this site collectively. Anyway, the Fed has enabled their survival, even if the FED and the dollar should go bust in the process - mission accomplished. As for me, I stack and bet on the BRICS put - half the world and then some are buyers... ...PMs are still in a secular bull market, at least on the demand side, and the price side will reflect that sooner or later. Good luck to all, we'll all need it.
by not holding anyone accountable congress and the Fed have only guarranteed that there will be a currency collapse.
Retribution will be paid, only a matterof time now.
Congress... don't get me started on them MFers... I'm by no means a fan of either Fed or their enablers... But they gave me time to get prepared more than what I would have been 7 years ago... if for that alone I'm thankful. On the other hand, the next crises will just be this much worse...
The 5th amendment SUPPOSEDLY prevents the gov't from forcing you to exchange things of value for things without value, i.e. taking the worthless FRN's for your labor and real things. This is how they got around that limitation. http://www.thetruthaboutthelaw.com/they-make-you-use-money-that-is-backe...
Who the hell needs a chart when there is about 101years of evidence that the Fed has failed America. Try with the dollar has lost 98% of it's purchasing power since it's inception.
My landlord was talking about the stock market the other day and gold came up. He says he about it but it doesn't do anything, it doesn't collect interest or pay dividends.
Without getting into a lengthy discussion all I said was it protects you from the spending of govt. So when your dollar bought you a pound of rice one year and now it buys you half that gold goes up in value so you can stay ahead of the widdling away of your purchasing power.
No need to go any further.
You're both correct. Gold is insurance against a currency collapse, and it doesn't* pay dividends, which is why it's price is sensitive to real interest rates (because gold doesn't pay dividends, the opportunity cost of owning gold decreases as real rates decline).
*Gold can still pay rents, if, for example, you write call-options against it.
History repeats...
"Cheap money will not induce manufacturers and merchants to increase their borrowings in an unsatisfactory business situation [in order to expand PP&E and production], Dr.Anderson declared. He cited the figures for commercial loans as reported by member banks of the Federal Reserve System in support of this contention.
But if merchants and manufacturers will not use cheap money, he said, speculators will. They will use cheap money in buying stocks, for the prospect of capital appreciation...."
"Cheap Money is not a Panacea"
NYTimes, April 13, 1930
....the Fed has screwed Mainstreet again.
I detail much more of the FED's fiscal decadence in my book Atlas Shouts.
http://www.amazon.com/Atlas-Shouts-Modern-Patriot-Action-ebook/dp/B00OLR...
Credit as money has to swim home to its debt instrument. Debt instrument initially remains at bank, and the credit must find its debt counterpart over time. This is an undeniable aspect of credit as money, and it seems few economists understand completely the ramifications of this indisputable FACT.
Private Banks issue credit, it really shouldn’t be called money. IF one looks at a dollar bill, it is a Federal Reserve Note. It does not say U.S. Treasury. It is not money, it is credit issued with a debt counterpart – this debt/credit scheme was invented relatively recently in monetary history.
When a bank issues a credit note, it sets in motion many actions behind the scenes, especially double entry mechanics. The banker must find reserves at some capital ratio (set by Basel rules) to offset the credit formation.
They go onto the overnight market to find this capital. If they don’t find it there, from other banks, they go to the FED discount window. Private Banks make loans first, and then later find reserves. If you were a good boy or girl, and re-deposited your new credit back into same bank, they can sweep it into the reserve channel; then they don’t even need to bother with finding reserves for your loan. Thanks Greenspan for the sweeps (Jew).
In other words, your signature authority creates the credit, and when you re-deposit your new banker credit in a different bank, it then finds its way back home via overnight market channels. Think of overnight market as a place where only bankers can go to trade, and they trade items that reside inside of their reserve loops. Reserve paths are a channel that bankers use to remediate imbalance, and bring their ledgers back into compliance.
Banker schemes are inherently in imbalance. It is part of their systemic con that became “law.” In order to give credit as money a patina of legality, they got their credit to be used as good for taxes and made government give it sanction as legal tender. This then gave private credit means acceptance, and the con game of collecting usury and doing the magick of swaps was “indurated down to fixture.”
So, if one borrows private credit in Midland, and spends it in Chicago, said credit must find its way home to balance books in Midland. Prior to banks being linked up via reserve loops, this created a big problem for bankers. Reserve loops work better with a “central bank” as a banker’s agent. The private stock corporations that call themselves central banks are really a creation of TBTF private banks, themselves also credit emitting corporations.
The term “money trust” has fallen out of our language, especially since pressitute media was codified into six large corporations. Thank you Bill Clinton for changing the law, of course you were a Rhodes Scholar and member of CFR, which is funded by private banks.
(As a digression, Cecil Rhodes took up with Ernest Oppenheimer a German Jew immigrant to England. They used rent schemes and head taxes in Africa to create the Rand, and then used market manipulations to control diamond and gold trade. Eventually they were founding members of Round Table group, which then formed CFR and other similar affiliates. All Rhodes Scholars should be viewed with suspicion. Cecil was junior partner of Ernest, as Ernest had backing of his in-group buddies. Rhodes scholars like Clinton are working not for the people, but for their interest group. This group is the former world government (Jewish) now with British aspects via private Bank of England, and now wall- street and Fed. The parasite keeps spreading.)
The U.S. now has a ministry of propaganda funded by usury from credit banks. People think it is government that is a bad actor, but government has been put into subordination by money powers and other groups. Governments may be good or bad depending on how they are formed. These actors that control U.S. government specifically are: Wall Street (private banks and corporations), Extraction Industries like Oil and Coal, Farm Lobby, Military Industrial Security Complex, and AIPAC
Note that the voting public is not listed. Your vote does not matter.
AIPAC is really one and the same with private banks, due to ties of ownership. Therefore the money trust controls the other power interests. This is why Jewish influence is so high on Capitol hill, and you find proud members being forced to kiss Israeli and Jewish asses. Also, ever since the 17’th amendment Senators have to grub for money in order to buy your vote. (Yes, 17’th was money power ..German Jew perversion in order to codify Federal Reserve Act mechanics and money trust control) All of these interest groups find common cause, which is now Neo-Conservatism. The head of this ideology and framework is the money trust.
The Fed is subordinate to the money trust and is hence is banker’s agent. To suspect that the Federal Reserve acts in the best interest of a sovereign polity is absurd when one investigates how banking really operates, and what the nature of our money is (private credit). The top of TBTF banks hydra resides in Wall Street, really the New York Fed.
What you cannot see, it what really matters. It is hidden from view on-purpose. You are funding your own dispossession via credit means at private banks. It is perfect slavery, where the slave delivers themselves willingly.
www.sovereignmoney.eu
In reply to mefobills: Wow! You nailed the banksters history perfectly! Well done!
Failed the Nation? That is what the Congress, the Executive and Judicial branches are for. A private entity, particularly a bank, pretty much just fucks the people out of their time and treasure.
FUCK THE FED
In other nooz…
Yellen Hires Particle Physicist To Detect Wealth Effect.
In the latest example of top scientific minds being channeled into the financial sector, Janet Yellen, head of the Federal Reserve, has hired Nobel Prize winning particle physicist Naveen Gupta to prove the Wealth Effect actually does exist in the economy. Frustrated by naysayers who claim the Wealth Effect is only theory, Ms. Yellen has asked Mr. Gupta to produce empirical evidence of its existence once and for all.
In our exclusive interview Naveen explained his basic approach will be analogous to his prior work at the Hadron Collider. “In particle physics, you deal with very low probability events occurring on an incredibly small scale”, said Naveen. “You often must bombard matter trillions of times with high energy particles before you produce one measurable event or effect of the kind you’re looking for.”
“It’s the same with the Wealth Effect.”, says Gupta, “You have to bombard the economy with huge amounts of stimulus dollars to produce even one more dollar of marginal spending by wealthy people. In fact, we estimate the probability of that happening to be even lower than rare subatomic particle reactions; like one in a Google to the power of Avogadro’s Number or something. It could take 100 years before we record a single example of the Wealth Effect, even if the Fed starts stimulus printing again at the previous rate of $85 billion per month. But, we’re confident the phenomenon does exist, and that Ms. Yellen will step up the pace of printing again if necessary to produce a measurable event. Considering the importance of this finding to defend Fed policy, the $2 trillion allocated to this special project is not just a great investment by Ms. Yellen, but a necessary one.”
In reply to down too long: What a hoot! Your piece would be worthy of a Shakespearean play. The parody is great! Ha. Ha. Ha.
World War is inevitable; the totalitarian bankster Washington Empire of debt is in complete control of the USA. The Washington criminals will blow up the world rather than be brought to Justice.
The NSA is an extension of Professor Nash’s “Game Theory” with advanced computer technology “technocracy” which is the “dream come true” for the Washington Empire of totalitarian bankster fascist (merger of corporate monopoly with government).
The Washington Empire NSA is an arm of the bigger global bankster “vampire octopus on the face of mankind” totalitarian financial operation of debt servitude.
Americans are 60 Trillion dollars in debt to whom, the criminal banksters? The American Empire of debt didn’t just happen and no one in the Fed saw it coming; it was planned by the Washington criminal Rockefeller banksters via the Council on Foreign Relations and their traitor puppets in Congress.
Prosecute the criminals for treason, cancel the criminal debt and therefor save ourselves and the rest of the world from the criminal debt and world war.
Americans will regain the respect from the rest of the world by returning to business and dissolving the Federal Reserve. You kill the vampire octopus by cutting its beak out and it can do no more damage; than the octopus dies and you eat him.
The public executions for treason, televised to the rest of the world to prove that we are serious, will be widely received and cheered on as we chop the totalitarian, incurable psychopathic, criminal’s heads off.
If you are going to end the Fed, there, Charles, you better institute some form of gold standard simultaneously, as a means of checks and balances, lest con-gress get all frisky with it's new found fiat creation tasks?
The FED is but one head of the US$ IMF/BIS financial Hydra.
Here is a more specific example of where the Fed has failed.
http://michaelekelley.com/2015/02/11/fed-inflation-target-is-abnormal/
Here is what the Fed should have done. The Taylor Rule does not apply with ZIRP.
http://michaelekelley.com/2015/03/27/the-kelley-monetary-policy-rule/
Here is how to prepare for the worse.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Thanks
Why would one imagine the Fed would do anything to serve the nation?
Hey Bernanke.... How many Seniors did you manage to throw under the bus so far today?.
Is this where all the disappointed gold holders are meeting to commiserate?
Do y'all take formal attendance?