Written by Morgan Kennedy.
I know that technically the Federal Reserve was established in 1913, making me more than a little premature in the anniversary department, but the way things have been going lately we may not have another year of life as we know it here in America so I wanted to share this message with you now. There is still time to pull ourselves out of the economic mess we are in, but the window of opportunity to maintain our way of life is rapidly closing here in America thanks to one institution in particular.
Most of us don’t know much about the series of banks that comprises the Federal Reserve, like the fact that the Federal Reserve is owned and controlled by private interests that have no allegiance to the United States. In essence the Fed is a supranational organization that operates outside of the scope of American politics as none of our political leaders have any control over the Federal Reserve.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”
– Woodrow Wilson
Shouldn’t the power of money rest in the hands of the people and not in the hands of an elite banking cabal with ZERO oversight from the people or our elected representatives. Most people don’t realize that the power to create money also means the power to steer the direction of our entire economy. In the past we called the Chairman of the Fed Maestro as if he had some great directorial control of the economy. Most of us also somehow made the grand assumption that what is good for the Maestro is good for the U.S. simply because things were looking good with the economy in the good ol’ days of the 90′s.
Today nobody calls Ben Bernanke (The Current Fed Chief) Maestro or anything else remotely endearing and for good reason. Though the actions of the Fed have been veiled in secrecy for the last century the overall effect this institution has had on our country is very much out in the open, just look at the dire state of our economy.
The Constitution asserts that the power of coining money rests solely with Congress and affords no delegation of that power to another entity. The Fed maintains that it received its delegated powers from Congress but also asserts its absolute independence in decision making. This might be OK if the Fed were just another bank, but since the Fed has the power to create money out of nothing and control interest rates, the decisions made at the Fed affect virtually everyone in the United States.
Two hundred and thirty-six years ago our Founding Fathers saw fit to separate themselves from the British for want of spiritual AND economic freedom. Taxation without Representation was the common cry back then. Since Inflation is in essence a tax as it weakens purchasing power, letting the Fed control our monetary policy without one ounce of input or oversight from Congress or the People, inflation equates to taxation without representation in modern form. Or maybe it isn’t that modern,
“The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the Revolution.”
– Benjamin Franklin
We aren’t in much danger of this institution lasting another 100 years or even another 25 at this rate, the truth is that the Federal Reserve has whittled down the value of our currency to almost nothing. And while big bankers and most of our politicians believe they can keep up the charade for the indefinite future, the few of us in the know understand that inflation is a terminal disease.
What does this mean for the average American? A drastic decrease in purchasing power as prices of necessities continue to rise. And if our debt continues to rise on a near exponential curve as it has in recent years we will reach a point where hyperinflation takes over and the value of our currency approaches zero. Prices of all goods will rise uncontrollably and empty store shelves will become a reality in America with bread lines and totalitarian measures not far behind. Germany experienced a period of hyperinflation in the 1930′s and we all know how that worked out in the following decade. If you want a more recent example of hyperinflation you can look to Zimbabwe under the Mugabe regime.
Most of us think that America is immune to any sort of sharp economic downfall, likely because of our classification as the world’s last superpower, but arrogance provides no protection from the real world. We are subject to the same economic laws that prevail throughout the world. I wouldn’t have a hard time convincing most of you that a neighbor that had re-mortgaged, re-re-mortgaged, and re-re-re-mortgaged their home was in trouble from an economic standpoint. But when I tell them the same thing about the United States they simply refuse to believe the same logic. There is simply no such thing as too big to fail, even when it comes to countries.
We are face to face with all of this because our leaders have gone beyond simple irresponsibility and fallen into the realm of outright deceit in order to serve their corporate masters. The Fed has proven to be the vehicle for endless wars and an absolute drain on the real wealth of this country. If you want an accurate measure of inflation just look at the price of Gold, which is near all time highs today. Up until the 1930′s you could trade a $20 Bill for an Ounce of Gold, now a $20 bill will net you about 1/80 of an Ounce of Gold.
Today our leaders have printed money so fast that in the last three years the monetary base has essentially tripled. In the simplest terms, when the amount of dollars out is multiplied by three the value of each dollar is reduced by a factor of three as well. Sure you can bolster the economy by printing money and giving some of it to your friends in big business, but the party can’t go on forever. Printing money is like any other addiction, so our leaders live in perpetual denial as they try for that next fix without any regard to the fallout from their actions.
It’s no longer enough to keep hacking at the branches of evil, the time is now to strike the root. Let’s not let the Fed celebrate 101 years of tyranny, the time is now to End The Fed!
Morgan Kennedy is the author of Generation Z, The Global Revolution — available in the Kindle Store.