How the Federal Reserve has been able to ’save’ the economy
“There’s no accountability,” said Walker F. Todd, a former economist at the Federal Reserve Bank of Cleveland whose writings raised some of the earliest questions about the 1991 law. “How much power do you want to concentrate in a few people who are not directly accountable to the political process?”
- The Washington Post
The Federal Reserve is arguably the driving force behind money in the United States… And that, is not a good thing at all. In fact anyone that really knows the details of the Federal Reserve is amazed that it even exists, and how it’s governed. For the most part, it’s because our government does not have any really control over it, yet it is where the government goes to get it’s money.
Where did the bail out money come from our governments recent act of knight in shining armor? The Federal Reserve. For that reason it is arguable that the large banks/investment firms should have failed. Why should it have failed? Because it was unprofessional and uneducated people running these big banks. Just like GM is ran by a bunch of monkeys that think it’s a good idea to manufacture millions of cars each year more than they need to, spend millions in R&D without actually optimizing engines as need be, making too many sub-brands, etc.
Wealth is not split any where close to evenly in this country, or the world. The Federal Reserve and it’s parent the World Bank are the cause, research them independently. For the most part, the Federal Reserve chose what companies to bail out, and as we all know the money was wasted/splurged with no logical, meaningful, or just reason.
Why is this such a scary fact? Because the rescue powers of the Federal Reserve are now being used to extend credit, not keep a flow. Meaning the people who need the bail out to keep our economy going aren’t necessarily getting that help, yet companies like AIG are spending the bailout money on bonuses for extremely under-performing higher ups in the company…
The American economy is in dire shape, as well all know, but more so, the control over the largest financial companies in the United States aren’t under the control people think they are, not exactly the way they are in the current state.
Anyhow, this post could go on for awhile, and it’d be shocking and very frustrating for me to write, but I’ll just link to the Washington Post article that helps explain it.
Put simply: The money in your wallet, your bank account, your savings do not represent anything except it’s equivalent to debt the United States owes the Federal Reserve.
[LINK: THE WASHINGTON POST]