Cicero

U.S. Dollar Signaling a Changing Tide?

Congress allows the Fed cartel of independent private bankers to create money from nothing and then charges you and me 8% of our national budget in perpetual interest for the privilege (we never repay the principle).
The NY Times article “The Nixon Recovery” of 2/4/04 admits they print or don't print money to sway elections, causing runaway inflation (as in the 70's): (query.nytimes.com/gst/...
The NY Time, article, The Education of Ben Bernanke admits the Fed created the housing bubble by pumping easy money in an effort to stem the damage of the dot.com bubble (that they fueled with easy money in the 90’s): www.nytimes.com/2008/0...
It notes the Fed “…has vast powers over the economy” with its “…control over the supply of money” and that this “…power to expand the money supply is unique... only the…Fed can create new money.” It notes Bernanke helped create the housing bubble and that the Fed ignored the warnings (of people like Ron Paul) and “the speculative lending continued.”
The same article notes the Fed flooded the economy with easy money specifically to manipulate the 72 election for Nixon, creating the “brutal recession” and massive double digit inflation that marked the economic havoc of that decade. We learn that idle builders (my father was a carpenter) “were so enraged that some sent him two-by-fours in the mail.”
Bernanke admits Fed caused depression in the conclusion of this 2002 Speech here on Fed Website: www.federalreserve.gov...
Bernanke admits creating money from nothing in a speech on 11/21/02 on the Fed’s website: www.federalreserve.gov.../ (4th paragraph under heading “Curing Deflation.” He duplicitous states the US gov’t creates it – is so, why pay independent private bankers interest? In fact, Congress allows the “Federal Reserve” (they aren’t federal and there are no reserves) to print monopoly “money” and loan it to the fedgov. We, the sheeple, pay 8% of our national budget in perpetual interest on that “money”. Talk about an investment! Imagine spending $3,000 to print a million back in 1960, lending it to the fedgov, and collecting 3% “interest only” for life. That’s $30,000 a year for perpetuity – a 1000% return on investment each and every year for perpetuity without investing another dime.
Ron Paul anyone?