The Fed can destroy your savings and your future. The current crew of Fed bureaucrats has raised the Feds balance sheet to a stunning 4 trillion dollars. As Sen. Rand Pauls father, retired congressman Ron Paul, put it, No secret cabal of government officials should have the authority to create money out of thin air. He makes a good point. For three decades, Ron Paul was virtually alone among politicians in questioning the Fed. But now there are more. Jim Bruces documentary Money for Nothing is a great beginners guide to the Fed. Bruce points out that the last two Fed chairmen, appointed by both Republicans and Democrats, have quietly increased central planning of our economy. Government now controls more of our economy than ever before. This is not a good thing. The Fed was created to prevent bank runs. It would be a lender of last resort and create stability. Yet 16 years after the Feds creation, the Feds low interest rates fueled the Roaring Twenties and led to the greatest stock market crash in history. Then the Feds tight money worsened the Depression... ...The result isnt stability, but one economic bubble after another...
Posted on: Sat, 02 Nov 2013 20:18:55 +0000
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