Tuesday, March 28, 2017

People Would Be Stunned to Know Who Actually Controls the Federal Reserve

Most Americans have NO IDEA how our money and banking system works.  In fact, most Americans just take the whole system on FAITH.

When you hear the term FEDERAL RESERVE one would naturally think that the Federal Government, which is made up of elected officials, probably has a handle on the whole thing.

But that is not the case.

With every passing day, the Fed is slowly but surely losing the game.

Only it is not just former (and in some cases current) Fed presidents admitting central banks are increasingly powerless to boost the global economy, even if they still have sway over capital markets. What is far more insidious to the Fed's waning credibility is when former economists affiliated with the Fed start repeating mantras that until recently were only a prominent feature in the so-called fringe media.

This is precisely what happened today when former central bank staffer and Dartmouth College economics professor Andrew Levin, special adviser to then Fed Chairman Ben Bernanke between 2010 to 2012, joined with an activist group to argue for overhauls at the central bank that they say would distance it from Wall Street and make its activities more transparent and accountable to the public.

Levin is pressing for the overhaul with Fed Up coalition activists. Many of the proposed changes target the 12 regional Federal Reserve Banks, which are quasi-private and technically owned by commercial banks in their respective districts.

All of that is not surprising. What he said to justify his new found cause, however, is.

"A lot of people would be stunned to know” the extent to which the Federal Reserve is privately owned, Mr. Levin said. The Fed “should be a fully public institution just like every other central bank” in the developed world, he said in a conference call announcing the plan. He described his proposals as "sensible, pragmatic and nonpartisan."

Why is that stunning? Because it has long been a bone of contention if only among the fringe media, that at its core the Fed is merely a private institution, beholden only to its de facto owners: not the people of the U.S. but to a small cabal of banks. Worse, the actual org chart of who owns what is not disclosed, even as the vast majority of the U.S. population remains deluded that the Fed is a publicly owned institution.

As the WSJ goes on to note, the former central bank staffer said he sees his ideas as designed to maintain the virtues the central bank already brings to the table. They aren’t targeted at changing how policy is conducted today. “What’s important here is that reform to the Federal Reserve can last for 100 years, not just the near term,” he said.

And this is coming from a former Fed employee and Ben Bernanke's personal advisor! That in itself is a most striking development, because now that the insiders are finally speaking up, it will be a race among both current and prior Fed workers to reveal as much dirty laundry as possible ahead of what is increasingly being perceived by many as the Fed's demise.

To be sure, Levin's personal campaign for Fed transformation will not be easy, and as the WSJ writes, what is being sought by Mr. Levin and the activists is significant and would require congressional action. Ady Barkan, who leads the Fed Up campaign, said the Fed’s current structure “is an embarrassment to America” and Fed leaders haven’t been “willing or able” to make changes.

Specifically, Levin wants the 12 regional Fed banks to be brought fully into the government. He also wants the process of selecting new bank presidents—they are key regulators and contributors in setting interest-rate policy—opened up more fully to public input, as well as term limits for Fed officials.

While ending the Fed may still seem like a pipe dream, at least until the market's next major crash at which point the population may  finally turn on the culprit behind America's serial boom-bust culture, the U.S. central bank, Levin's proposal would get to the heart of the most insidious conflict of interest in the US: the fact that the Federal Reserve works not for the people of America, but for its owners - the banks.

Which is also why, sadly, this proposal will be dead on arrival, as its passage would represent the biggest loss for Wall Street in the past 103 years, far more significant than anything Dodd-Frank could hope to accomplish.


If you want to ponder what triggers/events could literally tear America apart in a very short period of time...just ponder what would happen if the FAITH and CONFIDENCE were to vanish from our monetary system.

Since the US Dollar is the world's ONLY reserve currency at the moment...the entire global banking system would be shaken in a very serious way.

Again, we have no idea IF this is going to happen soon or if we could limp along with our current system for decades....but the Bible plainly tells us that in the Very Last Days THERE WILL BE A NEW FINANCIAL SYSTEM on the books and every person who wants to use it will need a special mark to buy or sell anything.

In order for that to happen, the existing system needs to be torn down.

So let's remember to have faith in Jesus and faith in the Word of God alone....because everything else is going to be burned up.


Blogger Todd Knudsvig said...

I can't believe how the liberals are reacting to mike pence respecting his wife!

Tohttps://townhall.com/eyobrien/2017/03/30/really-liberals-criticize-vp-pence-for-respecting-his-marriage-n2306457tipsheet/cortndd K.

March 30, 2017 at 12:02 PM  

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