Skip to comments.Money In Bad Faith - The Depredations Of The Fed
Posted on 01/20/2013 12:47:20 AM PST by zeestephen
Monetary policy today delivers the biggest benefits to the worlds largest borrower our federal government. The Fed [harms] people who actually contribute real value to the economy, who live and work in the belief that saving is a virtue.
(Excerpt) Read more at weeklystandard.com ...
The problem is the Fed and US Treasury has bailed out Wall Street and international bankers too many times to the point the system is barely holding together. When the situation gets dire, the people in power and access will break laws and regs to preserve the system. It means other people’s money and assets are vulnerable to them taking it. MF Global is the prototype operation and West German gold is the other. When regulators look the other way or worst customers do not audit valuable assets in other people’s hands, they run the chance of it being taken or used as collateral for loans.
It will all be taken away overnight, and when Soros and Obama hit the "re-set" button, they will hand you a piece of paper with a new IOU.
I lose at least 2% on my money every month . Earning 0.10% interest is costing me money to save. The banks don’t even want my savings, they can borrow from the fed cheaper than they can keep my money.Inflation is eating my money at the rate of at least 2% a day.
Good article on the morality of monetary policy.
There will be a real price to pay as the bottom falls out. As much as I admire the man, George W, chose the wrong fork in the road- in many ways I think because it would not be his road to travel and he knew his successor would not have the stomach for harder path.
Kicking the can down the road is rarely a good option.
This article underlines that we are in a central command economy. Unlike communism, their means to control is almost completely hidden to us. The ends are the same: the economy shrinks, but society is secure so that only those in power flourish.
How did the power of the USSR end? By a legal and peaceful secession of its states.