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August 6, 2019 | Fed Desires Independence to Further its Control over Economy! My View!
Don Swenson
Past Fed administrators desire FED independence to further control the American economy. Do the American people understand this institution?
The Donald wants a pumped up economy, lower interest rates, more counterfeiting of the virtual dollar, and more central planning. Is this what America needs going forward? Let’s talk about this organization called The FED!
Two articles in the Wall Street Journal reveal the mindset of our Fed officials. The first article was entitled “America Needs an Independent Fed”. The article was signed by Paul Volcker, Alan Greenspan, Ben Bernanke, and Janet Yellen (all past Fed Chairperson’s). The article spells out the idea that our Fed serves the economy best by being independent (no political influence). Is this realistic given the actions of our current Fed Chairman and those of the past administrators?
The article implies that the Trump complaints about our current Fed are counterproductive and not beneficial (basically are unwarranted). The article does not reflect on any of the legal issues about our money system and the actions which our Fed has taken these past 20 years to control all aspects of finance. Is the Fed even a Constitutional institution? This issue is never addressed or expressed by any of these past Fed Chairperson’s. My view is that it isn’t! Read the Constitution for details!
Our Fed creates money out-of-nothing (their thinking mind) and this is not Constitutional IMO. Also, the use of ‘virtual’ currencies (our current dollar) is not Constitutional IMO. Article I, Section 8 and 10, spell out that our money should be based on gold and silver (not the inner thinking mind of unelected administrators of the Fed). The issue of what should be legal tender is also not addressed by our Fed administrators. Is a ‘virtual’ dollar legal (tender)? Our courts have not adjudicated this issue!
The issue of what should be ‘legal’ tender is avoided by our current Fed as this would reveal the real nature of what our Fed does in real-time. Our Fed expanded its balance sheet by using ‘virtual’ dollars to increase their SOMA computer account, and then to purchase government treasuries and mortgage securities (to the tune of over $3 trillion) with these virtual creations from their mind. Is this legal and representative of sound economic policy? Not in my view!
The other article in the WSJ was entitled “The Very Political Fed”. It pointed out that our Fed desires to rule over all payments systems and flaunt the private sector’s desire to create a private payments system. The article says “why does the Fed want to control more of the private economy like politicians.” The fight over our Fed and its rule over our economy needs to grow IMO. The reality is that our Fed is now the Central Planner for our entire economy! Did Americans vote in a central planner for our economy?
Why should one institution be allowed to rule over all aspects of our economy? Our founding Constitution desired that there be no Central Bank. This concept of a Central Bank which controls all aspects of finance should be the real issue up for discussion. Why should a few unelected administrators (meeting behind closed doors in Washington D.C.) be allowed to control our entire economy? It is not American IMO.
The American way is for the private sector to rule over our money and our production. This was our system until the Fed became dominant (after the days of FDR). Money is the lifeblood of an economy and today this lifeblood is merely a ‘virtual’ unit of consciousness (issued via the ‘typing’ of dollar numbers into a computer account). This is crazy when understood. It does not reflect well upon those who operate this central planning entity.
Mr. Volcker, Bernanke, Greenspan, and Ms. Yellen need to think about what is actually happening within this institution of corruption. The American people need to request transparency and an independent audit of this institution. This entity does not even use a Congressional Appropriation for their operations. They create money from their ‘thinking’ and use money which I would call ‘counterfeit’ to pay their bills. This is pure corruption 101.
America can not become great again given this institution and its secret operations. We need immediate transparency so the voters can discern what these unelected administrators do in real-time. America would be SHOCKED if they were aware that our currency unit is now VIRTUAL and without any tie to material reality (goods/production). Creating money from one’s thinking (and then typing numbers into a computer account) is not American IMO.
We need to demand TRANSPARENCY on this secret institution which operates within the Eccles Building in Washington D.C. and within the New York Fed building in New York City. We also need transparency on this entity called the Plunge Protection Team (PPT) which operates to manipulate all asset prices and our electronic stock exchanges. After a 767 point drop in the Dow index (Monday) it was pumped up today by 311 points. Is this logical? Who did this? Was it the PPT?
Our virtual/cyber/electronic stock exchanges can be manipulated daily by this entity called the PPT. Some 400 to 500 traders occupy the 8th and 9th floors of the New York Fed building so as to trade our markets and manipulate our asset values and prices. Is this American? Is this Constitutional? Is this legal? I don’t think so! We need to immediately expose this institution and then let the American people decide what should happen going forward. It needs to happen NOW!
Think for yourself on this and pass this missive on to other thinkers. God Bless! See this website for current data on our virtual Fed manipulated markets:
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Don Swenson August 6th, 2019
Posted In: Kingdom Economics