As Congressman Ron Paul once said: “It is no coincidence that the century of total war coincided with the century of central banking”. Wise words from a wise man indeed.
It is a fact that almost every Fed chairman in the past 60 years has manipulated interest rates to brighten the economic outlook for incumbent presidents or newly elected presidents who won by large margins. The purchasing power of the U.S. dollar has fallen 94 percent in the past 100 years. The only way you can create inflation is by creating more money that is backed by the same reserve assets; the Fed is the only entity that can create more money. Ben Bernanke’s quantitative easing (QE) programs have pumped billions of unfunded dollars into the economy, thereby setting us up for massive inflation in the very near future. If this isn’t a form of financial terrorism, it is incompetence of the highest order.
So how do you reverse this trend heading for a total collapse of the US economy?
Listen to Congressman Grayson recent statement in this regard: “A simple solution to the impasse we are going through is to have the Federal Reserve simply cancel the Treasury debt that it owns. The government can just forgive the government’s debt. This wouldn’t solve the debt problem entirely as the Federal Reserve doesn’t own all U.S. government debt; but it owns a significant chunk of it – roughly $2 trillion”