US Action News

If they are wrong about there being no damaging consequences from the quantitative easing, they could ignite a 1970’s-type inflation, or worse.

The Constitution was from day one an instrument to consolidate Federal power and expand it. The Constitution has proven to be a weak reed in every attempt to slow down the expansion of Federal power. It has proven utterly impotent to roll Federal power back as little as a decade, ever.

U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

The government is running a $1.6 trillion deficit. Nothing can be done politically to stop this. We are on a runaway train. The main brakes were removed in 1971. The only brake now is that of the bond vigilantes, but the Federal Reserve is the buyer of bonds today, along with Asian central banks. Stockman observed that “the Fed’s QE2 bond purchases have been so massive that it is literally buying Treasury paper in the secondary market almost as fast as new bonds are being issued.”

In a rare victory for common sense, the Supreme Court has rejected appeals by banks and the Fed that disclosure of the emergency loans by the Fed to various banks in 2008 were “trade secretes”. The court gave the Fed 5 days to release the information.

Since the Fed was created in 1913 the dollar has lost 95% of its value. The Federal Reserve has existed for almost 100 years and it has created depressions, recessions, inflation, and bubbles. This CF&P Foundation video explains the origin of central banking and mentions possible alternatives that will be discussed in subsequent mini-documentaries.

The Fed explicitly said higher prices for energy and other commodities “are putting upward pressure on inflation” and that it would “pay close attention to the evolution of inflation and inflation expectations.”

Government squeezes out growth.That’s the underlying conclusion of an academic paper by former Federal Reserve Chairman Alan Greenspan.

The U.S. government has given the power of money creation over to a consortium of international private bankers. Every single year, hundreds of billions of dollars in profits are made lending money to the U.S. government.

Understanding how the Fed creates money will help you see why it must be audited and regulated. Why doesn’t the treasury issue the money directly without being forced to pay interest to a cartel of private banks that are being deliberately hidden by the Fed?