We all know that the economy is still the biggest concern to most Americans, and people are constantly wondering what it will take to make America the thriving nation that it once was. Ben Bernanke and the Federal Reserve are doing their best to continue making people thinking that they are the way. The Fed has become way too powerful over the years, and that is especially true over the past decade. They have essentially become the fourth branch of government, and it is a completely unconstitutional entity. If you are unsure of what exactly the Fed does is print the money of the United States, and they also will conduct their own foreign policy with the U.S Dollar. You can look at the top of a dollar bill, and it will say Federal Reserve Note. More politicians and citizens are criticizing federal spending now more than ever before, but people need to ask how can the government spend so much. It is because the United States has a fiat monetary system where the Federal Reserve prints money so the government can expand to do what it wishes. However, they won't exactly just print the money always, but yes that is essentially what they do. This is why the deficit has grown so much. The U.S. government will sell U.S. treasury bonds to the Fed in exchange for U.S. dollars. That meaning one day the government must pay back the bonds with interest. Which is completely impossible because they print the money that we would use to pay back! This was seen last week when it was announced that the Fed was going to buy more treasury bonds, so that they can print $600 billion. This is plain and simple inflation, and the policy has and is inflationary which is not a good thing in the long run. The economic policy of America has to change, or the system is going to come crashing down worse than ever before.
Here's a couple quotes by Thomas Jefferson:
"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."
"A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army. ‘We must not let our rulers load us with perpetual debt.’"http://money.cnn.com/2010/11/12/news/economy/Bernanke_Paul/index.htm
Nobody wants to blame the real culprit here. We are democracy, and we the people continue to demand goods and services from the government in excess of what it can afford because we don't want to pay higher taxes. If you don't believe this then start talking about cutting Medicare and Social Security benefits and all hell breaks loose in voter land. The politicians respond to our unrealistic demands by refusing to cut spending, then at election time they pander to our stupidity by talking about cutting taxes. The Fed tries to make the best of a ridiculously hopeless situation by keeping our currency and debt markets stable in the world economy, despite the fact that we as Americans are not willing to do what is needed which is to RAISE taxes and CUT spending. Nobody wants to hear the truth so we sit around and moan and groan about the politicians and the Reserve Chairmen as if we the people are not a part of the problem. Well, WE ARE! I get sick and tired of hearing people complain about the U.S. Government as if it were some kind of Glenn Beck conspiracy to enslave the American electorate. I might be willing to buy into that crap were it not for the fact that we open the polling stations every two years in this county and less than 50% of the electorate gets up to go vote. Give me a break!
ReplyDeleteAmerica isn't supposed to be a democracy, but it's supposed to be a republic with certain democratic principles. I do think that America has become too democratic, and some of the programs like Social Security could privatized. I agree that spending needs to be cut, and I don't think there should be anything that should be exempt from the cuts. However, I don't think people deserved to have anymore of their income seized from them. If you want to talk real tax reform then we should establish the Fair Tax because then everybody pays into the system whether citizen, immigrant, tourist, or whomever. I don't the Fed being the problem is a conspiracy since they continue to contribute the programs you said need to be cut, and they have failed in virtually everything they said they would do. And I don't really see what people's laziness and opinion polls have to do the Federal Reserve destroying the country, but whatever think what you want to.
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