US Action News

Should interest rates rise to the long-term average, interest on the national debt would more than double from the 2011 figure of $454 billion dollars.

Can we afford four more years of economic suicide? Of redistribution of wealth? Of an inexperienced community organizer? Of generational theft? Of record deficits and debt? Of campaign contributor payoffs in the billions of dollars? Of hiding documents on government murder and corruption? Of failed international leadership? Of dissing our allies and bowing to our enemies? Of $13 MILLION per green job programs? Of national security leaks for campaign imaging? Of ignoring the law and the will of the people? Four more years of a Marxist in the White House?

According to the Daily Mail, in addition to Barclays it is being alleged that at least 20 banks (including some major U.S. banks) were involved in this interest rate fixing scandal….

Why is the Fed so secret? Why does it hold more debt than even China? Why do we have to pay interest on money they create? Who owns the Fed? Glenn Beck raises these questions and more. From GBTV.

Note the warning from 1964 about Democrats being “prone to spend money .. when it’s rather doubtful whether or not it is good for the country and for the interests of the people. Because you pile up your national debt. You pile up the interest. You pile up these staggering deficits that we have at the present time. And that spends itself in terms of higher interest rates, higher prices in the stores where people shop. And so the evil effects always fall upon the people back home.”

Ironically, the very act of rolling out this product is thus the alarm bell that higher rates are a-comin’. – Zero Hedge

Right now the U.S. government can still borrow trillions of dollars at super low interest rates thanks to games being played by the Federal Reserve. But it is simply not possible for this Ponzi scheme to last too much longer. When it ends, the pain will be extremely great.

It has failed on all four fronts. Bank lending for industrial and commercial purposes is still at 2007 levels. Housing price pressure is still pushing downward, there’s no end in sight to the foreclosure fiasco and Fed is the proud owner of as much as a trillion dollars in mortgage-backed securities. The unemployment picture is grim: Jobless claims are up, and labor force participation is at 1980 levels!

While Greece continues to inch its way towards a deal with its EU partners, the creditors of a much-larger debtor, the US government, appear to be untroubled. Ten-year Treasury bonds still yield just 2%. But the issue of how the US addresses its long-term fiscal problems is, as yet, unresolved.

The Federal Reserve has more power over the performance of the U.S. economy than anyone else does. The Federal Reserve is not a government agency. The truth is that it is a privately owned central bank.