Posts Tagged ‘ Federal Reserve ’

"Directly ending the Federal Reserve System through legislation is the wrong goal, both morally and practically, for those who oppose the Fed. Rather, we should be concerned with abolishing the legal tender laws that largely force us to use Federal Reserve notes. If this is achieved, the Fed will collapse under its own weight, for the Fed note could not hope to stand up to competition with sounder currencies in the free market." (03/24/13)

"One factor often cited as contributing to the decline of the Roman Empire was the debasement of the currency. In a period of about 150 years following Emperor Nero’s reign (from 54 to 68 AD) the value of Rome’s currency fell by 50%. By 250 AD, 200 years after Nero, the value of Rome’s currency was only 5% of its value two centuries before. The Federal Reserve Bank (Fed), founded in 1913 and now in its centennial year, controls the value of the US dollar. The currency debasement in the Roman Empire looks positively tame compared to what the Fed has done to the value of the dollar." (02/19/13)

"I regard the Fed as a criminal organization, since it engages in (well, aids and abets) counterfeiting. The Fed is to the U.S. economy as was the old central planning apparatus of the late and non-lamented Soviet Union to the entire economy of the U.S.S.R. The Federal Reserve System has been responsible since its inception in 1913 for destroying some 97% of the value of our dollar, the life blood of our economy." (01/23/12)

"The Federal Reserve last week announced its new 'Enhanced Prudential Standards and Early Remediation Requirements' for big banks, as required by the Dodd-Frank law. You have to pity the poor Fed because it faces an impossible task." (12/29/11)

"Why should Americans have 'faith' in an unaccountable agency that secretly manipulates their money? I personally believe that an audit will reveal the folly of central economic planning, and my hope is that the Fed will be abolished and that honest money and free banking -- subject to harsh regulations imposed by picky customers instead of the untrustworthy political class -- will take its place." (12/09/11)

"Many good willed conservatives understand that the system is imploding. Some envision a second American Revolution that expels the remnant Tories that have hijacked our Federalism separation of powers form of government. Woefully, the prospects for a States Rights revolt are slim. However, the scenario of a domestic French Revolution style carnage is brewing with every escalation of the pompous arrogance worthy of a Jean-Joseph, marquis de Laborde or the manipulative usury of the House of Rothschild." (10/09/11)

"Is Operation Twist a failure? The stock market plunged in disappointment when it was announced. Keynesians are tearing their hair out in frustration, as it appears the Fed failed to ramp up the printing press. Free marketers are disgusted by the blatant manipulation of the yield curve. A number of Federal Reserve (Fed) President Bernanke’s colleagues dissented and/or are voicing public opposition. However, as the dust settles, it appears there is a method to the twist: Bernanke may have a plan ..." (10/05/11)

"The Federal Reserve is a creature of Congress and should be treated as such, not as an organization exempt from Congressional oversight. Claims from the Fed and its defenders that a full audit of the Fed would endanger the Fed's independence are an attempt at provoking fears that Congress would directly intervene in the conduct of monetary policy. A bill that sets interest rates would endanger the Fed's independence; a bill that audits the Fed does not." (10/05/11)

"Last week the Federal Reserve began the second incarnation of ,Operation Twist,''' an attempt to drive down interest rates by purchasing long-term Treasury debt and selling short-term debt. This is just the latest instance of the central bank desperately flailing around doing something merely for the sake of doing something." (10/03/11)