Monday, December 14, 2009

The Federal Reserve Bank: A Greater Threat to America's Security Than Al-Qaeda?

My Fellow Americans,

I want to thank you for sticking with me as I redefine my approach.  I believe this format will allow us to engage each other on a more personal level.  This way, we can really get a better idea where everybody (Republicans, Democrats, Libertarians, Constitutional Conservatives, Liberals, etc.) is coming from.

Today, I would like to focus on the Fed.  I want to discuss the reason I believe the Fed is a greater threat to America than any terrorist group.

It was President Abraham Lincoln who said: "The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe."

This is exactly what we have seen from Ben Bernake, chairman of the Federal Reserve (photo: Google).  He has overseen the biggest financial collapse in our nation's history.  Bernake's "oversight" allowed the following to occur: (1) unemployment to swell to 10%, (2) the housing bubble to burst (as Bernake sat on his hands), and (3) ridiculous "bailouts" to mismanaged companies like Bear Sterns and AIG.

All of this took place during Bernake's watch.  Earlier this month, Bernake went before the U.S. Senate in an effort to defend his job (he is up for reconfirmation at the end of December).  His complete inability to do his job led Sen. Jim Bunning (R-Ky.) to say this during the Senate's cross-examinations: "You are the definition of a moral hazard."

To use Sen. Bunning's words: the Federal Reserve, along with Bernake, is the definition of a "moral hazard."  We saw the Fed and the government "conspiring against" the American people as the economy has declined.  They want to tax us more with healthcare and cap-and-trade.  They want to control more of our lives.  They want to make things harder for us in the guise of making it easier.

To get out of a recession or depression, you have to create economic growth.  Stifling the American people only prolongs our suffering. 

But, maybe the idea is to stifle the American worker -- particularly the poor and middle class.  If you keep a certain class of people constantly in power and keep the majority from attaining the wealth and power, that majority will depend on the ruling class.  We still have a ruling class, America.  It involves the Fed, the government, and the greedy Wall Street and bank executives.

If you believe what Robert Kiyosaki writes in his latest best-selling book, The Conspiracy of the Rich: the 8 New Rules of Money, you know that the Federal Reserve "is not federal or American, it has no reserves, and is not a bank." 

The Fed can print money at will.  And that is exactly what it is doing.

Let Ron Paul audit the Fed.  Somebody needs to investigate what is really going on there.

I want to close with a quote from Thomas Jefferson: "A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army...We must not let our rulers load us with perpetual debt."

The founders certainly knew what they were talking about.  What say you, America?

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