It’s Time To Eliminate The Fed

If you contemplate whether or not they’ve been successful in their pursuit, I think it’s a stretch to say they’ve done a good job.  I’ll give credit to the FED - only in the sense that they prevented a terrible potential global financial collapse.  They did this by enslaving a US population into future tax payments, by creating a deficit that this country has never witnessed before.

Now that the stock market has “bounced” and things have stabilized (…but not improved significantly), I think a complete review of the FED should be undertaken.  As a nation we need to contemplate what the FED does and how they do it.  Their machinations have resulted in one of the highest unemployment rates in twenty years, along with artificially low interest rates.

If the FED did not inject huge amounts of capital into the financial system, then long term rates would be much higher than 4.5%.  They’ve managed to keep rates low, artificially, but they’ve done this at the expense of the US Dollar. The US Dollar and interest rates are one and the same.  It’s wrong to assert that the FED has been successful at keeping rates low, when the US dollar has been destroyed against other world currencies, as it has over the last several years.

Our nation is also now deeper in debt then we’ve ever been.  With rising unemployment and disappearing jobs, there’s no conceivable way that we’ll be able to pay off the deficits while relying on US Government support to keep the economy afloat.  The FED is a complete failure.  They’ve failed miserably at what they were formed to do - and have enslaved the American population to the US Government and the banking system for years to come.   It’s unrealistic to assume that things will return to the way they were.  The Deficits will now control the policies of Washington.  Washington will tell the middle class exactly what they want to hear, and then they will do whatever they need to do to convince the rest of the world that we really are able to repay our debts/borrowings from other nations.

It’s time for the middle class to say enough is enough.  How many taxes can they pay?   Income Tax, Estate Tax, Sales Tax, Excise Tax, Gas Tax, FCC Taxes etc. etc. etc.  The list is endless and will not stop.  There will be new taxes created with each passing month.  Once the taxes are in place the rates will gradually be raised - year after year.  The taxes are choking off business and free enterprise.  Risk takers that would like to start a business are dissuaded by the extraordinary taxes and fees and risks involved.  Health care costs for employees, Payroll Taxes,  SS / FICA, FUTA etc.    How can unemployed people be expected to convert a great idea into a profitable business?  Free Enterprise is DOA.  It has to change.  Obama has not delivered the changes the American electorate expected.  The war rages on.  Troops die.  Relationships with other nations continue to be strained.

The Wall St elite have gotten the money  they wanted to bring the markets back from the abyss.  When is it the people’s time? It is coming.  With each passing day, it’s like a drum beat that gets louder and louder and louder until eventually it becomes all encompassing.  The people will rule this nation again.

Wikipedia Article - Interesting

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