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The Fed is our real rulers, and I KNOW people think that'
Patrick says
Huh, you can clearly see that inflation really took off after the US dollar was delinked from gold in 1971.
Patrick says
Patrick says
Huh, you can clearly see that inflation really took off after the US dollar was delinked from gold in 1971.
It took off with the MIC and endless war.
The national debt is so high that each worker owes about 1/4 million bucks.
I'm not 100% sure if this includes those who don't actually pay income taxes (just 43% of people in the USA pay them).
Ben Bernanke, Janet Yellen, who took over from Bernanke, and my main man, J. Powell, who took over from Janet Yellen. I'm sure these are all very nice people. I mean nothing against anybody, in terms of who they are, their character, and so forth. But it is, and I think actually if you guys came to the event in Austin, one of the things I actually found so interesting about Dr. Malone's remarks as he was talking about Fauci, was how Fauci wasn't really the problem so much as he is a symptom of the problem, as it was the system itself which was the problem in that it that enabled somebody like that to be able to take this control over everyone and everything. That, in a way, is really what this Federal Reserve situation is. It's not the individuals here.
It's the system itself that has been established since 1913, since they passed the law establishing the central bank in the United States, and ever since then, they've anointed this organization to say, "You're going to run everything in the economy. You have supreme executive authority to do whatever it is that you want to in the economy." And when you step back and consider that, you have to conclude "That's actually insane." It's insane to think that a couple of people can sit in a room and think that something as complex as a 20 plus trillion economy that has literally trillions and trillions of different economic units, businesses, transactions that occur. Every single transaction, every day. When you travel, when you buy food, when you fill up your gas tank, think about the trillions and trillions of those transactions that take place in a given year.
And to think that a handful of people are going to sit in a room, and they're going to push a button and just everything's going to be optimized, it is clearly insane to think that anybody can control that. It is literally insane. But that's the system that we have now with the Federal Reserve. These people are just representative of the system. ...
So what are they doing now? Well, with the interest rate increases, what they're trying to do by raising rates is they are trying to decrease demand, which is working, right? Because when it's more expensive to borrow money, people borrow less, which means they spend less, which reduces demand. That's the theory and, in part, that's actually working. But what they're also doing is that the Fed is also kind of decreasing supply as well, because you've got a lot of businesses that are really over leveraged, a lot of businesses that have a lot of debt.
All of a sudden, the business model for these leveraged companies depends on being able to continually refinance that debt, and suddenly they can't refinance that debt anymore because capital is more scarce, the rates are a lot higher, and these companies suddenly face bankruptcy. As a consequence, you have people that are going out of business, and when companies go out of business or employees get laid off, there is less supply, because there are fewer people and fewer business producing goods and services. So, sure, you have less demand, but you also have less supply. As a result you follow intersection of the supply and demand curves and arrive, more or less, at the same price. Maybe a little bit less, but not a material difference in your price levels, which is why after all of this, we really haven't seen too much in terms of a decrease in our price rates.
Patrick says
What would happen if the Reich began to print notes without paying attention to its gold stock?
They used to pretend that all our paper dollars were backed by a vast hoard of gold in Ft Knox.Patrick says
no one any longer even pretends money is backed by anything except force
yup
How was gold not backed by force?
How was gold not backed by force?
This is the ultimate end-game round of Gresham's law. They will force us to accept fiat until they can't, at which time all fiat will be worthless, and we'll have to start using that "barbarous relic" again. By then, we'll probably be living in a world like Kunstler's "The World Made by Hand."
"Sorry, your note for 100 ounces of Gold at Richie Rich's First Federal Bank cannot be honored. Perhaps once the FDIC/Courts have processed it, you might get 1 ounce of Gold. "
Have a nice day."
There have to be laws requiring salaries and wages to be paid in metal directly, no paper.
Otherwise, like in the 19th and before, the wealthy and banks will have all the physical, and give everybody else banknotes. Then they will SBF the Gold.
AmericanKulak says
There have to be laws requiring salaries and wages to be paid in metal directly, no paper.
Already in the Constitution, just not honored.
AmericanKulak says
Otherwise, like in the 19th and before, the wealthy and banks will have all the physical, and give everybody else banknotes. Then they will SBF the Gold.
Just don't bank there. Gold is worthless if you can't secure storage with people you trust.
AmericanKulak says
There have to be laws requiring salaries and wages to be paid in metal directly, no paper.
Already in the Constitution, just not honored.
The Creature from Jekyll Island (1994)
The operation of our monetary system through the Federal Reserve has much in common with professional football. First, there are certain plays that are repeated over and over again with only minor variations to suit the special circumstances. Second, there are definite rules which the players follow with great precision. Third, there is a clear objective to the game which is uppermost in the minds of the players. And fourth, if the spectators are not familiar with that objective and if they do not understand the rules, they will never comprehend what is going on. Which, as far as monetary matters is concerned, is the common state of the vast majority of Americans today.
Let us, therefore, attempt to spell out in plain language what that objective is and how the players expect to achieve it. To demystify the process, we shall present an overview first. After the concepts are clarified, we then shall follow up with actual examples taken from the recent past.
The name of the game is Bailout. As stated previously, the objective of this game is to shift the inevitable losses from the owners of the larger banks to the taxpayers.
Oil! by Upton Sinclair (1926)
Bunny had a talk with Mr. Irving, who told him that it was the Federal Reserve system at work; a device of the big Wall Street banks, a supposed-to-be government board, but really just a committee of bankers, who had the power to create unlimited new paper money in times of crisis. This money was turned over to the big banks, and in turn loaned by them to the big industries whose securities they held and must protect. So, whenever a panic came, the big fellows were saved, while the little fellows went to the wall.
The Fed-shill apology tour has begun:
The Fed repeatedly warned the bank that it had problems, according to a person familiar with the matter.
[Probably anonymous sources with close ties to U.S. intelligence - RH]
I should note that the above article was written by Jeanna Smialek, who - you’re not going to believe this - has a brand new book out, some fan fiction titled: Limitless: The Federal Reserve Takes on a New Age of Crisis.
One of the most absurd aspects of the Silicon Valley bank failure is that its CEO was a director of the same body in charge of regulating it.
- Bernie ‘I Surrender’ Sanders
[Hey Bernie - take a look at the 2008 NY Fed Board]
It’s not just the NY Times.
Here are the top two Wall Street Journal Fed reporters' latest books:
These people are NOT journalists - they're PUBLICISTS! Who is tough on the Fed in the MSM? No one.
They all LOVE the Fed, otherwise they wouldn't be Fed reporters.
I never see reporters more obsequious and deferential than when they're questioning FOMC members.
The Fed has immense power over all of us, and this is a national disgrace. ...
But it’s not just the mostly abysmal MSM. Where's today's Ron Paul? No one in Congress is seriously challenging the Fed.
A few give it a hard time only because they want the infinite fun coupons directed their way [e.g., poser Liz Warren.] And where are you, Senator Sanders?
Congress is so corrupt they've completely abdicated everything to the Fed.
But worst of all is Congress, which created this Frankenstein, and could put it on a leash. Congress is now so corrupt that they have completely abdicated everything to a private bank cartel, even allowing failed bank regulator and gazillionaire motivational speaker Janet “Peter Principle'“ Yellen, in some sort of cosmic joke, to be Treasury Secretary.
Inflation only averaged approximately 2%, even with the Fed Funds rate at 0.25%.
For the first 95 years of the Federal Reserve’s existence, they owned NO mortgage-backed securities.
Then, from January 2009 to June 2010, they purchased1 $1.128 TRILLION, a monstrous amount, ostensibly to save the world, or at least save Wall Street bonuses2.
Despite two very feeble attempts at “QT” in 2011 and 2019, by March 2020, the Federal Reserve had actually increased their MBS holdings to $1.366 trillion.
Then they went insane.
By April 2022, the Federal Reserve had monetized an additional $1.374 TRILLION of MBS, bringing their ownership at the peak to $2.74 trillion. Now, after almost a year of alleged “Quantitative Tightening,” they STILL hold almost $2.6 trillion of MBS, and as bank bond expert Randy Woodward suggests, there was no clear reason for them to buy them at all in 2020.
Incredibly, the $1.374 trillion of MBS purchases by the Federal Reserve between March 2020 and April 2022 continued even as the S&P/Case-Shiller U.S. National Home Price Index annual appreciation rate spiked from 4.5% to 20.7%!
They were putting out a fire with gasoline. ...
And all of a sudden inflation goes parabolic and the Fed has to react, for whatever reason, as violently as they did. Here's what you have. Everything that banks own are at a loss. Every bond portfolio in the world is at a loss. And, if you're forced to sell it, like Silicon Valley Bank was forced to sell it, you got a problem. And that's a massive exposure that all banks are sitting on right now.
By April 2022, the Federal Reserve had monetized an additional $1.374 TRILLION of MBS, bringing their ownership at the peak to $2.74 trillion.
No wonder the other nations want to stop trading in dollars, the other nations are getting screwed being forced to trade in dollars that keep diminishing in value.
Russia, for example, should never have bought US dollars, they should have always bought gold.
In a way its going to feel like when I was a young kid in the late 1970's and getting 1 nice present for Christmas (i.e, Colecovision Mister Quarterback), and having to wait until 1986 for an Atari 2600.
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It seems that Fed employees know how to get rich betraying the public.