Organization of the Federal Reserve System

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(link for subscribers) http://www.youtube.com/watch?v=O8Z1H6Q-vhM

Article 1, Section 8 of the U.S. Constitution charges Congress with the responsibility “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.”

Nineteen (19) words.  Yet, so much of the potential for happiness or despair is wrapped up in the execution of that charge.

The “easy money” policies of The Fed, along with gross mismanagement of Fannie Mae and Freddie Mac, over the last few decades culminated in the real estate bubble which burst in 2008.  I remember regularly receiving offers by mail and fax for easy 110% home financing.   In Florida, at the peak of real estate fever, homes would sell within hours of listing and new developments sold out before even the first foundation was laid.  I remember thinking, “who is buying all these homes?”  As unsophisticated as I was, I suspected that the gravy train could not last.  And here we are.  There’s no gravy on my chin.  How about yours?

Now The Fed does not act entirely independently.  Clearly, those Mandarins test the wind coming from the White House and Congress.  Monetary policy reflects the goals of our politicians.  Those goals reflect an electorate increasingly reliant on government weal.  We only have a trillions dollar national budget because those in power think that most of us would rather have it than not.  Let’s be honest, pork goes to people.  Even if the pork goes to a corporation, that corporation has employees, shareholders, directors.  The money gets to them in one manner or another.

It’s not just welfare recipients.  It’s Amtrak, National Parks, Public Libraries and Schools, Museums, Symphonies and Theaters.  Many get at least some funding from Uncle Sam.  To keep it all going, The Fed keeps the presses rolling.  Listen closely, you can hear them.

In conclusion, we can point our fingers at Barry O, or The Federal Reserve, or the men and women on “The Hill,” but in all honesty, we’ve done this to ourselves.   Can we fix it?

Moran

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Comments
  1. Sue Hanson says:

    I think it’s possible to fix it, the problem lies in finding someone or (group) who have the capability of doing what is needed. There have been many tires at eliminating the Federal Reserve. Most or all of the instigators are dead (usually prematurely and in unusual circumstances). Realize that the buck doesn’t stop at the Fed, but goes well above that level. Currently, our best bet for starting with removal of the Federal Reserve, in my opinion, is to back Ron and Rand Paul LOUDLY. They are not alone, but their backers are few.

    We are not the only country which is under the thumb of the World Bank, and there are underground movements afoot in other parts of the world to get rid of them, as well. Japan has been working on it for a while now – look what happened to them. (by the way, if you believe that the earthquake and tsunami were acts of god, you might want to do a little underground investigating – start with Benjamin Fulford at benjaminfulford.net and read his entries for the past several months, at least.

  2. […] Comments Sue Hanson on Fed up with The FED? Not so…Fed up with The FED?… on Can we tame the beast?mindofmoran on I see […]

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