Posted on 02/05/2015 11:43:29 AM PST by HomerBohn
What we call money is actually fiat money - our dollars are debt instruments, not money. Thank you Woodrow Wilson for allowing the Federal Reserve to be our banker. The U.S. was wealthy in 1913, by 1933, thanks to the Fed, the U.S. was flat broke and it has only gotten worse since.
The Federal Reserve is the foundation, props and support for progressive, leftist, nanny-state government. It can NOT exist without the FED.
Imagine a country where money was backed by something politicians could not control, where interest rates were solely determined by the free-market, and where a central bank could not monetize debt?
Do you think for a second we would have ever got to $18 trillion in debt, Obamacare, or had Solyndra, government-supported abortions, and 1000 other leftist social-engineering schemes???
As if that hasn't been the M.O. of the Fed for at least a decade. The Fed is nothing more than the tool of the multi-national banking and financial cartel.
I have problems with Rand, but he is spot on on this issue!
Well, that’s not exactly true - money is what we agree is worth something. We agree those bills have value and can be exchanged for goods.
That said, the Fed does need to be audited...regularly.
Target. Anti-aircraft fire.
He might want to get food testers, stay out of bars alone at midnight and out of small aircraft. Just sayin’.
Why doesn’t the Central Bank want to be audited?
The Creature from Jekyll Island bites back!
Uh, the people who wrote the Constitution?
Something about the ability to coin money?
Amazing that a Fed Head would say this. Kinda like the employee telling off the boss in no uncertain terms.
We all know how that usually ends up.
Oh, and while auditing the Fed, might as well audit/inventory Fort Knox as well...
It’s going to get real interesting real quick if the constitutionally supported, rightfully elected Congress starts investigating these powerful, yet constitutionally questionable “agencies” of the Executive Office... ain’t it?
Ask JFK.
“This runs the risk of monetary policy decisions being based on short-term political considerations instead of the longer-term health of the economy,” Plosser said.
And They Aren’t ALLREADY?
The Congress shall have Power... To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;--Article I, Section 8, US Consititution
He might receive an anonymous delivered copy of the Zapruder video. This one from a different angle.
Correct, but after wards we still had our money backed by Silver, we still had lots of real money, I remember when ALL the Slots in Vegas had Real Dollars. It went from bad to worse when LBJ instituted his War on the Family Plan in 1964. In order to fund it, we stopped minting Silver Coin and eliminated any redemption of precious metal from ALL Silver Certificates in existence. I still have some. Within 7 short years the US was Officially Bankrupt and Nixon closed the Gold Window on the Brits and Italians as well as we Americans. It has steadily gone down hill since.
It will end, and it will end badly, time is short.
This is about an AUDIT of the Fed.
The fact that they are LYING about the proposal and objecting to the oversight, is a strong sign they are hiding something.
But the Fed creates money out of thin air because congress wants the money to spend.
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