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On The 100th Anniversary Of The Federal Reserve Here Are 100 Reasons To Shut It Down Forever

The Federal ReserveDecember 23rd, 1913 is a date which will live in infamy.  That was the day when the Federal Reserve Act was pushed through Congress.  Many members of Congress were absent that day, and the general public was distracted with holiday preparations.  Now we have reached the 100th anniversary of the Federal Reserve, and most Americans still don't know what it actually is or how it functions.  But understanding the Federal Reserve is absolutely critical, because the Fed is at the very heart of our economic problems.  Since the Federal Reserve was created, there have been 18 recessions or depressions, the value of the U.S. dollar has declined by 98 percent, and the U.S. national debt has gotten more than 5000 times larger.  This insidious debt-based financial system has literally made debt slaves out of all of us, and it is systematically destroying the bright future that our children and our grandchildren were supposed to have.  If nothing is done, we are inevitably heading for a massive amount of economic pain as a nation.  So please share this article with as many people as you can.  The following are 100 reasons why the Federal Reserve should be shut down forever...

#1 We like to think that we have a government "of the people, by the people, for the people", but the truth is that an unelected, unaccountable group of central planners has far more power over our economy than anyone else in our society does.

#2 The Federal Reserve is actually "independent" of the government.  In fact, the Federal Reserve has argued vehemently in federal court that it is "not an agency" of the federal government and therefore not subject to the Freedom of Information Act.

#3 The Federal Reserve openly admits that the 12 regional Federal Reserve banks are organized "much like private corporations".

#4 The regional Federal Reserve banks issue shares of stock to the "member banks" that own them.

#5 100% of the shareholders of the Federal Reserve are private banks.  The U.S. government owns zero shares.

#6 The Federal Reserve is not an agency of the federal government, but it has been given power to regulate our banks and financial institutions.  This should not be happening.

#7 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures".  So why is the Federal Reserve doing it?

#8 If you look at a "U.S. dollar", it actually says "Federal Reserve note" at the top.  In the financial world, a "note" is an instrument of debt.

#9 In 1963, President John F. Kennedy issued Executive Order 11110 which authorized the U.S. Treasury to issue "United States notes" which were created by the U.S. government directly and not by the Federal Reserve.  He was assassinated shortly thereafter.

#10 Many of the debt-free United States notes issued under President Kennedy are still in circulation today.

#11 The Federal Reserve determines what levels some of the most important interest rates in our system are going to be set at.  In a free market system, the free market would determine those interest rates.

#12 The Federal Reserve has become so powerful that it is now known as "the fourth branch of government".

#13 The greatest period of economic growth in U.S. history was when there was no central bank.

#14 The Federal Reserve was designed to be a perpetual debt machine.  The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape.  Since the Federal Reserve was established 100 years ago, the U.S. national debt has gotten more than 5000 times larger.

#15 A permanent federal income tax was established the exact same year that the Federal Reserve was created.  This was not a coincidence.  In order to pay for all of the government debt that the Federal Reserve would create, a federal income tax was necessary.  The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.

#16 The period prior to 1913 (when there was no income tax) was the greatest period of economic growth in U.S. history.

#17 Today, the U.S. tax code is about 13 miles long.

#18 From the time that the Federal Reserve was created until now, the U.S. dollar has lost 98 percent of its value.

#19 From the time that President Nixon took us off the gold standard until now, the U.S. dollar has lost 83 percent of its value.

#20 During the 100 years before the Federal Reserve was created, the U.S. economy rarely had any problems with inflation.  But since the Federal Reserve was established, the U.S. economy has experienced constant and never ending inflation.

#21 In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent.  In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent.

#22 The Federal Reserve has stripped the middle class of trillions of dollars of wealth through the hidden tax of inflation.

#23 The size of M1 has nearly doubled since 2008 thanks to the reckless money printing that the Federal Reserve has been doing.

#24 The Federal Reserve has been starting to behave like the Weimar Republic, and we all remember how that ended.

#25 The Federal Reserve has been consistently lying to us about the level of inflation in our economy.  If the inflation rate was still calculated the same way that it was back when Jimmy Carter was president, the official rate of inflation would be somewhere between 8 and 10 percent today.

#26 Since the Federal Reserve was created, there have been 18 distinct recessions or depressions: 1918, 1920, 1923, 1926, 1929, 1937, 1945, 1949, 1953, 1958, 1960, 1969, 1973, 1980, 1981, 1990, 2001, 2008.

#27 Within 20 years of the creation of the Federal Reserve, the U.S. economy was plunged into the Great Depression.

#28 The Federal Reserve created the conditions that caused the stock market crash of 1929, and even Ben Bernanke admits that the response by the Fed to that crisis made the Great Depression even worse than it should have been.

#29 The "easy money" policies of former Fed Chairman Alan Greenspan set the stage for the great financial crisis of 2008.

#30 Without the Federal Reserve, the "subprime mortgage meltdown" would probably never have happened.

#31 If you can believe it, there have been 10 different economic recessions since 1950.  The Federal Reserve created the "dotcom bubble", the Federal Reserve created the "housing bubble" and now it has created the largest bond bubble in the history of the planet.

#32 According to an official government report, the Federal Reserve made 16.1 trillion dollars in secret loans to the big banks during the last financial crisis.  The following is a list of loan recipients that was taken directly from page 131 of the report...

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

#33 The Federal Reserve also paid those big banks $659.4 million in "fees" to help "administer" those secret loans.

#34 During the last financial crisis, big European banks were allowed to borrow an "unlimited" amount of money from the Federal Reserve at ultra-low interest rates.

#35 The "easy money" policies of Federal Reserve Chairman Ben Bernanke have created the largest financial bubble this nation has ever seen, and this has set the stage for the great financial crisis that we are rapidly approaching.

#36 Since late 2008, the size of the Federal Reserve balance sheet has grown from less than a trillion dollars to more than 4 trillion dollars.  This is complete and utter insanity.

#37 During the quantitative easing era, the value of the financial securities that the Fed has accumulated is greater than the total amount of publicly held debt that the U.S. government accumulated from the presidency of George Washington through the end of the presidency of Bill Clinton.

#38 Overall, the Federal Reserve now holds more than 32 percent of all 10 year equivalents, and that percentage is rising by about 0.3 percent each week.

#39 Quantitative easing creates financial bubbles, and when quantitative easing ends those bubbles tend to deflate rapidly.

#40 Most of the new money created by quantitative easing has ended up in the hands of the very wealthy.

#41 According to a prominent Federal Reserve insider, quantitative easing has been one giant "subsidy" for Wall Street banks.

#42 As one CNBC article recently stated, we are seeing absolutely rampant inflation in "stocks and bonds and art and Ferraris".

#43 Donald Trump once made the following statement about quantitative easing: "People like me will benefit from this."

#44 Most people have never heard about this, but a very interesting study conducted for the Bank of England shows that quantitative easing actually increases the gap between the wealthy and the poor.

#45 The gap between the top one percent and the rest of the country is now the greatest that it has been since the 1920s.

#46 The mainstream media has sold quantitative easing to the American public as an "economic stimulus program", but the truth is that the percentage of Americans that have a job has actually gone down since quantitative easing first began.

#47 The Federal Reserve is supposed to be able to guide the nation toward "full employment", but the reality of the matter is that an all-time record 102 million working age Americans do not have a job right now.  That number has risen by about 27 million since the year 2000.

#48 For years, the projections of economic growth by the Federal Reserve have consistently overstated the strength of the U.S. economy.  But every single time, the mainstream media continues to report that these numbers are "reliable" even though all they actually represent is wishful thinking.

#49 The Federal Reserve system fuels the growth of government, and the growth of government fuels the growth of the Federal Reserve system.  Since 1970, federal spending has grown nearly 12 times as rapidly as median household income has.

#50 The Federal Reserve is supposed to look out for the health of all U.S. banks, but the truth is that they only seem to be concerned about the big ones.  In 1985, there were more than 18,000 banks in the United States.  Today, there are only 6,891 left.

#51 The six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years.

#52 The U.S. banking system has 14.4 trillion dollars in total assets.  The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.

#53 The five largest banks now account for 42 percent of all loans in the United States.

#54 We were told that the purpose of quantitative easing is to help "stimulate the economy", but today the Federal Reserve is actually paying the big banks not to lend out 1.8 trillion dollars in "excess reserves" that they have parked at the Fed.

#55 The Federal Reserve has allowed an absolutely gigantic derivatives bubble to inflate which could destroy our financial system at any moment.  Right now, four of the "too big to fail" banks each have total exposure to derivatives that is well in excess of 40 trillion dollars.

#56 The total exposure that Goldman Sachs has to derivatives contracts is more than 381 times greater than their total assets.

#57 Federal Reserve Chairman Ben Bernanke has a track record of failure that would make the Chicago Cubs look good.

#58 The secret November 1910 gathering at Jekyll Island, Georgia during which the plan for the Federal Reserve was hatched was attended by U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and a whole host of representatives from the upper crust of the Wall Street banking establishment.

#59 The Federal Reserve was created by the big Wall Street banks and for the benefit of the big Wall Street banks.

#60 In 1913, Congress was promised that if the Federal Reserve Act was passed that it would eliminate the business cycle.

#61 There has never been a true comprehensive audit of the Federal Reserve since it was created back in 1913.

#62 The Federal Reserve system has been described as "the biggest Ponzi scheme in the history of the world".

#63 The following comes directly from the Fed's official mission statement: "To provide the nation with a safer, more flexible, and more stable monetary and financial system."  Without a doubt, the Federal Reserve has failed in those tasks dramatically.

#64 The Fed decides what the target rate of inflation should be, what the target rate of unemployment should be and what the size of the money supply is going to be.  This is quite similar to the "central planning" that goes on in communist nations, but very few people in our government seem upset by this.

#65 A couple of years ago, Federal Reserve officials walked into one bank in Oklahoma and demanded that they take down all the Bible verses and all the Christmas buttons that the bank had been displaying.

#66 The Federal Reserve has taken some other very frightening steps in recent years.  For example, back in 2011 the Federal Reserve announced plans to identify "key bloggers" and to monitor "billions of conversations" about the Fed on Facebook, Twitter, forums and blogs.  Someone at the Fed will almost certainly end up reading this article.

#67 Thanks to this endless debt spiral that we are trapped in, a massive amount of money is transferred out of our pockets and into the pockets of the ultra-wealthy each year.  Incredibly, the U.S. government spent more than 415 billion dollars just on interest on the national debt in 2013.

#68 In September, the average rate of interest on the government’s marketable debt was 1.981 percent.  In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent.  If we got back to that level today, we would be paying more than a trillion dollars a year just in interest on the national debt and it would collapse our entire financial system.

#69 The American people are being killed by compound interest but most of them don't even understand what it is.  Albert Einstein once made the following statement about compound interest...

"Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it."

#70 Most Americans have absolutely no idea where money comes from.  The truth is that the Federal Reserve just creates it out of thin air.  The following is how I have previously described how money is normally created by the Fed in our system...

When the U.S. government decides that it wants to spend another billion dollars that it does not have, it does not print up a billion dollars.

Rather, the U.S. government creates a bunch of U.S. Treasury bonds (debt) and takes them over to the Federal Reserve.

The Federal Reserve creates a billion dollars out of thin air and exchanges them for the U.S. Treasury bonds.

#71 What does the Federal Reserve do with those U.S. Treasury bonds?  They end up getting auctioned off to the highest bidder.  But this entire process actually creates more debt than it does money...

The U.S. Treasury bonds that the Federal Reserve receives in exchange for the money it has created out of nothing are auctioned off through the Federal Reserve system.

But wait.

There is a problem.

Because the U.S. government must pay interest on the Treasury bonds, the amount of debt that has been created by this transaction is greater than the amount of money that has been created.

So where will the U.S. government get the money to pay that debt?

Well, the theory is that we can get money to circulate through the economy really, really fast and tax it at a high enough rate that the government will be able to collect enough taxes to pay the debt.

But that never actually happens, does it?

And the creators of the Federal Reserve understood this as well.  They understood that the U.S. government would not have enough money to both run the government and service the national debt.  They knew that the U.S. government would have to keep borrowing even more money in an attempt to keep up with the game.

#72 Of course the U.S. government could actually create money and spend it directly into the economy without the Federal Reserve being involved at all.  But then we wouldn't be 17 trillion dollars in debt and that wouldn't serve the interests of the bankers at all.

#73 The following is what Thomas Edison once had to say about our absolutely insane debt-based financial system...

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt.

Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.

But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.

#74 The United States now has the largest national debt in the history of the world, and we are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day in a desperate attempt to keep the debt spiral going.

#75 Thomas Jefferson once stated that if he could add just one more amendment to the U.S. Constitution it would be a ban on all government borrowing....

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

#76 At this moment, the U.S. national debt is sitting at $17,251,528,475,994.19.  If we had followed the advice of Thomas Jefferson, it would be sitting at zero.

#77 When the Federal Reserve was first established, the U.S. national debt was sitting at about 2.9 billion dollars.  On average, we have been adding more than that to the national debt every single day since Obama has been in the White House.

#78 We are on pace to accumulate more new debt under the 8 years of the Obama administration than we did under all of the other presidents in all of U.S. history combined.

#79 If all of the new debt that has been accumulated since John Boehner became Speaker of the House had been given directly to the American people instead, every household in America would have been able to buy a new truck.

#80 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.

#81 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 101.6 percent.

#82 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.

#83 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.

#84 As I have written about previously, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.

#85 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

#86 Sometimes we forget just how much money a trillion dollars is.  If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.

#87 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

#88 In addition to all of our debt, the U.S. government has also accumulated more than 200 trillion dollars in unfunded liabilities.  So where in the world will all of that money come from?

#89 The greatest damage that quantitative easing has been causing to our economy is the fact that it is destroying worldwide faith in the U.S. dollar and in U.S. debt.  If the rest of the world stops using our dollars and stops buying our debt, we are going to be in a massive amount of trouble.

#90 Over the past several years, the Federal Reserve has been monetizing a staggering amount of U.S. government debt even though Ben Bernanke once promised that he would never do this.

#91 China recently announced that they are going to quit stockpiling more U.S. dollars.  If the Federal Reserve was not recklessly printing money, this would probably not have happened.

#92 Most Americans have no idea that one of our most famous presidents was absolutely obsessed with getting rid of central banking in the United States.  The following is a February 1834 quote by President Andrew Jackson about the evils of central banking....

I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. You tell me that if I take the deposits from the Bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out and, by the Eternal, (bringing his fist down on the table) I will rout you out.

#93 There are plenty of possible alternative financial systems, but at this point all 187 nations that belong to the IMF have a central bank.  Are we supposed to believe that this is just some sort of a bizarre coincidence?

#94 The capstone of the global central banking system is an organization known as the Bank for International Settlements.  The following is how I described this organization in a previous article...

An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe.  It is called the Bank for International Settlements, and it is the central bank of central banks.  It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City.  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws.  Even Wikipedia admits that "it is not accountable to any single national government."  The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system.  Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does.  Every two months, the central bankers of the world gather in Basel for another "Global Economy Meeting".  During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on.  The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.

#95 The borrower is the servant of the lender, and the Federal Reserve has turned all of us into debt slaves.

#96 Debt is a form of social control, and the global elite use all of this debt to dominate all the rest of us.  40 years ago, the total amount of debt in our system (all government debt, all business debt, all consumer debt, etc.) was sitting at about 2 trillion dollars.  Today, the grand total exceeds 56 trillion dollars.

#97 Unless something dramatic is done, our children and our grandchildren will be debt slaves for their entire lives as they service our debts and pay for our mistakes.

#98 Now that you know this information, you are responsible for doing something about it.

#99 Congress has the power to shut down the Federal Reserve any time that they would like.  But right now most of our politicians fully endorse the current system, and nothing is ever going to happen until the American people start demanding change.

#100 The design of the Federal Reserve system was flawed from the very beginning.  If something is not done very rapidly, it is inevitable that our entire financial system is going to suffer an absolutely nightmarish collapse.

The truth is that we do not have to have a Federal Reserve.  The greatest period of economic growth in U.S. history was when we did not have a central bank.  If we are ever going to turn this nation around economically, we are going to have to get rid of this debt-based financial system that is centered around the Federal Reserve.  On the path that we are on now, there is no hope.  Please share this article with as many people as you can.  It is imperative that we try to wake the American people up while we still have time.

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  • djc

    Any President who would attempt to reign in the power of The Fed will have an “accident” within a month or so and his or her Vice President would be the new commander-in-chief…..

    • GSOB

      Any such candidate would no even get into office in the first place.

      • laura m.

        gsob: That’s why voting is a crock of BS as politicians are bought and paid for (NWO shills)..Honest ones are bumped off.

        • Gregge K Johnson

          Election Systems and Software is owned by the IMF. It’s one compcontroler runs 4,372 voting jurisdictions and over 300,000 election districts World Wide. The Banking elite can put anyone into office they want.

        • GSOB

          Two party system or not, good leaders will exist. They’ll get recognition and favor of the neighborhoods, ransacked towns and mall cities.

          (Post collapse)

          • nestazhe265

            My
            Uncle Nathaniel recently got a nearly new red Chrysler 200 Sedan only from
            working part time off a home pc… find out this here B­i­g­2­9­.­ℂ­o­m

          • GSOB

            troll

        • baobabs

          Give me a break — there’s no “NWO” grand plan. The rest of the world will carry on as usual with or without the USA as the economic “superpower”.

    • Bill

      Kennedy—–

      • Robert Govan

        Kennedy……Wellaware1.com

      • Mondobeyondo

        Uh-huh.

    • none

      GOOD NEWS MICHEAL:

      One of the best Christmas stories ever told.
      About how the evil grinc,(the fed) killed the president.
      One of my favorite theories that explains why the president was killed.
      This time around will they cause a depression to keep in charge?

    • seth datta

      Rothschilds, Rockefellers, Soros, Brzezinski and Kissinger are all terrorists of the highest order wanted both domestically and internationally for their crimes. Spread the word to all, so eventually enough people know where the blame really lies, so that there is no place for these wicked men to run nor hide.

      • k

        You forgot bush and the current prez. Heck infact most human beings can become terrorists if the circumstances arise.

        • Hammerstrike

          Bush was just a puppet, so is bummer.

          These aren´t human beings.

          • k

            True. And most of those terrorists are puppets too. That still does not make them non-terrorists (if this is a word)

          • Klaas

            They are indeed the people of Gog.

          • Hammerstrike

            Not all humans are human beings.

      • duckfartz

        bronfmans, carnegies, walton clan,etc etc etc, actually more than 250 world wide dynasties own or control the world supply of goods and services through their cartel of oligopolies–FBI recently had a private lawyer appointed to rule over them, he promptly fired 3,000 agents, limiting all activities of those remaining, as he/obama try to empower the NSA to replace our nations security systems. while dismantling our military

      • duckfartz

        Crime will always have a place of honor among the corrupt lawyers, judges, in our world of corruption like> lichenstein, switzerland, island of montreal, quebec, canada, and other nations, cities, provinces who refuse extradition for cash in the pocket to any judicial realm capable of blocking extradition procedures or stalling them giving those so charged with crimes time to relocate to the neverending realm of crime controlled locations in our world. If you have the cash get out of jail free cards are for sale, only the poor and innocent victimized fill our jails, prisons in our nations prisons of servitude economy that jail more people than the next 10 modern nations combined. for cash in the lower rungs of Nobility our justice system has become the very criminality it once prosecuted, the best example is the pseudo president currently taking our nation apart, piece by piece, smiling at his continual campaign of vacations and golf
        a servant for the federal reserve, the MOB occupies our pseudo electorate government

    • Hammerstrike

      The answer to 1984 is 1776.

  • James

    Michael surprised that you didn’t talk about the supposed growth when the GDP was revised again to 4.1%. What are your thoughts?

    • Gay Veteran

      a lot of that was inventory

    • MichaelfromTheEconomicCollapse

      Actually, if the government actually used honest data it would show that GDP has been negative continuously since 2005…

      http://www.shadowstats.com/alternate_data/gross-domestic-product-charts

      And during this short-lived bubble of false prosperity it really doesn’t matter if GDP growth briefly ticks up to 4 percent, 5 percent, 6 percent or even higher.

      What matters are the steadily decaying balance sheet numbers and the horrific financial crisis which is rapidly approaching.

      The same thing is true on a personal level. Just because you are spending a little bit more money doesn’t mean that you are doing better if you are continually going into even more credit card debt.

      Michael

  • Bill

    Great job. Every point you make creates an issue for debate. The more debate the less action. Isn’t this the way Congress works? The Federal Reserve is a corrupt cabal business better known as a scam – period. It needs to be closed down the same time o is impeached.

  • GSOB

    Our country has been taken captive by the Federal Reserve a century ago. I’m afraid that the only way the Federal Reserve will go away forever is for the US to go completely bankrupt and lose global currency status.

  • Nicnak

    fatca coming to catch you guys!

    time to send all of you in jail because I m sure you hide more than 1 dollar of undeclared petty cash somewhere at home or outside of USA…

    this is the last pathetic law coming in 2014.invented by your black president to screw every body. me included…

    who want do business with usa dollars? . forget about it! Who want hire usa person. Better to hire non usa person.

    if a company hire a USA person, he must be sure all his tax are paid.
    millions of business all around the world will close thanks to fatca.

  • Robert Govan

    The elite rats have met their Waterloo……Wellaware1.com

  • JustanOguy

    You can cry about it all you want or you can work the system in your advantage… it is what it is at this point.

    Learn the credit game and don’t buy a bunch of garbage such as cars and big screen TV’s on credit unless the interest rate is extremely low like 1% or less.

    At one point I was getting loans at 4% to buy assets generating 15% cash on cash returns that have since appreciated 20%+. (Real Estate)

    Learn the game and profit or complain about it and die broke.

    Your Choice…

    America is actually a self sustaining country full of entrepreneurs and hard working people that don’t rely on the Government so thinking that if the big banksters / Wall St. collapse and that’s the end of the world is completely idiotic.

    • Diogenes

      “America” is not the enter of the universe, but then you knew that, right?
      That being the case you also know the the BIS and the Fed sprang from the same source, the source that holds the entire world excluding two countries its economic hostage.

      fall on your sword.

      • Mondobeyondo

        Really? I’m shocked. Isn’t America the center of the universe?

        Not when the world tilts on its axis.

      • k

        what are those two countries?

    • AssHat900

      So I should spend all my time making money so I can die rich?

      • JustanOguy

        What’s the point of your comment? You have to make money doing something or you end up homeless.

        Are you from Greece or something where you don’t have to work?

    • Mondobeyondo

      Most people learn the game and try to profit fromit. But it’s not the game you’re referring to I think. It’s the “tget it

      • Mondobeyondo

        Need to edit this message
        sorry

    • Kent Harris

      What have we actually produced. Nothing. Bernie Madoff did the same thing and he ended up in jail. This article seems to have gone right over your head. The current Ponzi scheme will eventually fail and to believe that is foolish. The system was designed to implode. When the government has hinted about taking over peoples’ 401Ks they would have no problem taking your money and assets too to pay its debt.

      • JustanOguy

        Bernie Madoff did something completely illegal with Security Fraud.

        This article DID NOT go completely over my head but obviously yours in not knowing how to play the game.

        Let me guess… you are part of that group that didn’t have a clue that real estate was completely under priced and thought everything was going to completely fall apart so you sat on the sidelines not doing anything but waiting for the sky to fall.

        Completely idiotic. The game is the game and you can either play it or not. Your choice.

    • Not a fan

      A lot of people are careful about how they use their credit. However, many are not, and if the banks/government default, it will push many many people into default as well. What happens to the majority of people who have made bad choices financially will surely affect those of us who made better choices. Therefore, we still need to effect some kind of change in our government, not just “Learn the game and profit”.

  • FounderChurch

    We have thousands of Universities throughout America and the world, are not any of them studying the Federal Reserve and the world money system from an independent point of view?

    This proposition of curbing, changing, or eliminating the Federal Reserve cannot even be initiated without some intelligent study being done.

    Why is it that the only people interested in this are poets, and generalized social commentators?

    The whole issue suffers from a lock of coherent dialogue, including the expose articles. It seems Rand Paul has the right track in focusing on a audit. Who can object to an audit? That it seems is where we need to be, that and to go back to the Kennedy dollar that was issued as a debt free instrument.

    Question: For example how did the Nazis, Fascists, the USSR, and China today handle their financial systems where they were not constrained by any Federal Reserve?

    This issue seems to be plagued by semi-nuts who get little hearing of respect as they are not trained in finance at all. This thing cries for detailed analysis, and academically careful documentation.

    Would not the Fed be powerless if we didn’t spend more than we have, both personally, and nationally, and internationally. What business does government have in ever borrowing. Is not borrowing the real heart of our problem and not the Fed who merely indulges our our addictive appetite to spend what we have not?

  • FounderChurch

    Disasters are the surest way to fix anything. Nuclear War would probably have been a good idea. Douglas MacArthur wanted to nuke China and that would have solved many problems. Certainly we would not have China threatening the world today if we had followed his advice. So an economic meltdown would be the best way out of this mess. Right? And did we not just issue Government Bonds to pay for WW II? It would have been better to have just raised taxes at the time. Zero Inflation is the best system. Government’s job in regulating the supply of money is to keep inflation at zero at all times. Any other course is criminal.

    • Guest

      That’s right flounder…incernerate millions of innocent souls. Real fruits of the spirit in action…

      • Boo-urns

        Never forget the basic fact that Founder is a stark raving lunatic.

        • El Pollo de Oro

          Boo-urns: One of Flounder’s “pearls of wisdom” is bringing back Prohibition (which worked really well the last time around………..that is, if your name was Al “Scarface” Capone or Frank “The Enforcer” Nitti). But as I’ve said before, he is entertaining in a “Bride of Chuckie” kinda way.

    • jonno

      ” China threatening the world today ? ” It’s the USA with it’s 100s of overseas military bases that threatens the world, and bombs cities and murders women and children with drones. ” Nuclear war would have been a good idea?” Sure as long as the fallout stays in your hemisphere and leaves us decent humans in the southern alone. ” Disasters are the surest way to fix anything”. Well the USA is a disaster and it’s not going to get fixed. I hope not too many people think as you do or you’ll be eating each other sooner rather than later.

    • K

      The problem is not china or russia or even america…the problem is too many human beings.

      The presence of excess number of people anywhere leads to….more competition for resources and jobs and that leads to…more evil. We need to have only as many kids as they can survive.

      • FounderChurch

        Oh yeah, the world has too many people, so you volunteer to kill some, or all, of your children to help out, and ever so sweetly suggest I and others do the same. Let me call your attention to the fact, if you csre about, or can handle, facts, that the poorest most miserable countries on earth are the most sparsely populated, and the richest countries are the most densely populated. Murderous Demon Rat idiot.

        • k

          you halfwitted moronic mo**ER fu**er, why the hell should i kill my kids, maybe i should k*ll y**rs. Maybe that will stop your insanity gene from poisoning the human gene pool.What i said doesnt indicate that i or other people should kill their kids. People should avoid having more kids than they can make them survive.

          You advocate nuclear anhilation, and you think you have the moral right to point out that i am advocating killing?

          • FounderChurch

            One truth I have found to be invariably true, and that is, the person who gets mad is always in the wrong, and that is what he is mad about.

            The people who killed Jesus, were mad at him, precisely because they were wrong, and He was right.

            You are wrong, and know it, and I am right and know it. Guess which one is mad at the other.

            Go look in the mirror and repent your unjustified violent rage before you lose your immortal soul.

            I repent every minute of every day, and right now I am repenting because I didn’t find a way to teach you without making you MAD.

          • k

            the person who gets mad is always in the wrong? Thats where you are wrong. Being wrong has less to do with anger and more to do with stupidity.

          • k

            Teach yourself first….before teaching others!

          • FounderChurch

            I test out, and apply, every idea and teaching on myself and those around me before I teach it to others. The Bible says, Judge not IF you are not willing to be judged by that same standard that you have used to judge others. I am always willing to follow that wise rule, but, are you?

          • k

            You applied the teaching to yourself? Looks like you dint teach yourself well then.

        • k

          You dont deserve to have the word ‘church’ in your profile name.

          • FounderChurch

            Again, your anger betrays the level of your sin and wrongheadedness.

            *”Life And Life More Abundantly”*
            Google “FounderChurch” for Teachings

          • k

            ‘life and life more abundantly’?and yet you advocate nuclear anhilation.

          • FounderChurch

            Well, which ones do deserve to be called churches and which ones do not, and whose to judge? Either all deserve to be called churches or none do. Either all are CULTS [a four letter word] or none are.

          • k

            certainly not you.

      • K

        Once again, someone else posted this not me.

    • K

      I mean people need to have only as many kids as they can make them survive :)

      • K

        Once again not me

  • Daniel

    Gold is Money

  • From Toronto

    same thing here in Canada…there is an independent central bank which prints all the money and “loans” it to the government, but you wouldn’t hear that from public schools or on the news.

    By the way, half of the metropolis of Toronto was in a power outage due to a icestorm………you should have seen the stores and the people struggling to find portable lighting at those hardware stores…I had to travel to the other side of the city to withdraw some cash at the ATM.

    Imagine how horrible it would be if there was an economic collapse in the freezing winter of Canada and a power outage happened in the urban centres for more than 2 days.

    Torontonians should be lucky that only a portion of the city was in power outage…but stores ran out of portable light, food and heat.

    Lucky I read these blogs for knowledge but a wise man keeps a still tongue you never hear me telling friends not because they will label me as a tinfoil hat wearer but when natural disasters knock off the power grid, every night without power and heat leads to a higher chance of robberies, maniacs and desperate people.

  • seth datta

    Debt-based fiat paper money is a proxy for the mark of the beast in the hand. The real mark is yet to be enforced and probably will be electronic. ‘You may not buy nor sell without the mark of the beast’. The satanic Congress, backed up by evil international bankers has taken over the nation and used it to foment wars and kill abroad; and is now oppressing Americans domestically at home.

    The Anglo-American elite is headed by Rothschilds of the UK and its US arm is headed by the Rockefellers and George Soros. After bankrupting the UK in the early 90′s, Soros came over to the US to fund Obama’s campaign and also funded the occupy movement (they always control the opposition, hence why this movement has gained no traction).

    Every major competition is taken out or subverted. Glenn Beck has sported illuminati T-shirts; same for Jesse Ventura’s biker jacket he once wore; most celebrities such as Jared Leto, Miley Cyrus, Bieber, Jay Z…. etc all wear clothing with the all seeing eye; make 666 or ‘the devil’ hand signs. The entire culture has veered away from Christianity, to be subverted with Satanism.

    The Satanists plan to use technology to control societies, hence the use of drones (who will not disobey orders to kill US citizens). They also use engineered crises (such as the current global banking crises) to create chaos, out of which they provide the order.

    It is sad that for all their machinations, this group aren’t too bright and are just petty thieves. It is essentially a glorified mafia cartel for some old guys to retain power, and then money, at the expense of everyone else. It does not matter who dies. This is what Michael Jackson alluded to in his song ‘they don’t care about us’. He was promptly driven mad, discredited and killed. JFK saw the danger and he too, was killed.

    The key to defeating this agenda is to survive and endure, to be independent of government help as much as possible (for slaves dependent upon government will do anything) and to educate others’ as to how the agenda is to their and the human race’s detriment.

  • DJohn1

    The problem is inheritance. Most of the money in the world is inherited from parents. The Carnegies, Rockefellers, Morgans, are all a form of royalty based on enormous fortunes. And the children are trained by the parents to keep it that way.
    Now if we continue to make money for the rich then there is just that less money for the other classes.
    That cannot continue as there are a limited amount of resources in the world. So the Federal Reserve liberates some of that money to keep money in circulation. Otherwise, 1% of the population will have ALL of the money. The financial systems of the world will shut down.

    • Drud

      The problem, IMO, runs deeper than this: the problem is with the currency itself. Money is simply a medium of exchange. In an ideal world, it is like a receipt for labor. Our money has been twisted and scarred and stretched beyond recognition. What if you were playing monopoly and one player could simply scoop money out of the bank at each turn, how long would the game go on before that player controlled everything? Of course, no one would want to play with those rules. But the truth is we HAVE been playing that game for a century, we have been FORCED to play that game for a century, and we continue to play that game even though we have the power to change it. If enough people recognize how insidious the Fed is and how much influence it has over our everyday lives, the seams will begin to unravel and the whole system will fall apart. Yes, millions will be hurt, perhaps killed, but that is nothing compared to what will happen if continue to pretend that nothing is wrong, or worse, believe the lies that “things are getting better.”

  • solatle

    Don’t buy: reduce, reuse, recycle, and barter. Get off the grid little by little: be self-sufficient on food and energy. Avoid bank loans as much as possible. Create your own short-term loan programs among family members and close friends. Most importantly, stay healthy! If you are sick, you are doomed.

    • laura m.

      Solatle: Agree, we all need to purge un used items, donate/sell stuff no longer used. Go thru each room, drawer, closet, garage, shed,etc. at least twice a year. If it’s no longer used/needed it needs to go. Local group homes, rescue missions can use it; also free ads in local papers or online. Yard sales are a waste of time overall. Several decades ago they were profitable.

      • solatle

        Thank you for the feedback. We must help ourselves and others break free from the bondage of the mindless consumption; they (the oppressors — the banksters and their goons) turned us into material and debt slaves through their brain-washing and brain-numbing propaganda. The profit and the interest they extract from us are used against us to further hold us down in the valley of zombies. We must stop pushing ourselves farther down in the valley; we must stop being the accomplices to the diabolic games of our own oppressors. We are creative and resilient; we revert to having mindful and meaningful life WITHOUT.

  • Kim

    #32 And those loans were presumably ZIRP loans? How much of that was passed on the “consumers” and at what interest rate? We are being hosed.

  • Citizen X19

    Michael, your articles always interesting. Do you have a staff that helps you gather the data for your articles?

    • MichaelfromTheEconomicCollapse

      Nope it is just me. My wife is also here, but she writes about furniture and decorating and stuff like that. :)

      Michael

    • MichaelfromTheEconomicCollapse

      Actually, I should also mention that readers will often email me with story tips and story ideas, so they are a great help.

      Michael

      • k

        For your last article in 2013, why dont you do a ’100 reasons why the global economy is circling the drain’? And by economy i dont mean GDP but the actual economy. GDP numbers can be padded up by stuff like QE, and govt increasing its revenue by tax increases and spending cuts etc.

        I asked for global economy instead of US economy because there are very few articles on the internet that comprehensively capture the state of global economy as a whole, through one article.

        It will also be an interesting way to sum up the economic news of the year.

      • Drud

        I read you articles as they come out and find them always well-researched and as accurate a picture of the current picture as any. Might I suggest a couple of new directions: first: looking forward. It is impossible to predict the future with any accuracy, but I think is useful to consider possible outcomes of an economic collapse on the world stage. Also, we can draw on lessons from history from the Fall of Rome to the Collapse of the Soviet Union. I have found some great insights on that collapse from Dmitry Orlov. Second: energy. The real economy runs on energy and energy can never be faked. What is the real state of peak oil? What are the weaknesses of the power grid? What new forms of energy have real potential? I believe the power grid is the key to how far we fall as a society, if people have access to regular electrical power then maybe most simply accept a lower standard of living, if there are widespread black- and brown-outs, I think chaos might erupt across the country (maybe the world).

  • A D

    Actual DEBT is in the Quadrillion range, America has rejected the Bible & Jesus we are in uncharted waters.

    • Boo-urns

      What does Jeebus have to do with the debt exactly?

      • GSOB

        Jesus is not part of the beast.

      • Mondobeyondo

        Can’t say what He would do about our debt, but He gave those money changers in the temple a good spanking.

  • Mohsen Samii

    most of the world is run by capital and governments are here to protect that capital regardless what happens to a world with 7 billion people. one pays millions to buy a race horse or thousands for a dog, would you pay such sums to save one human being? most likely not, and now you have your answear.

  • K

    The Fed is the thorn in the side of the Republic. At first the Republic was strong, and the thorn was a minor irritant. But over time it became infected, still the Republic was strong, so it only caused some minor illness. Now the Republic has full fledged blood poisoning, and still the thorn is in place. What worse? Some people would tell you, just get used to the thorn, we all have to die one day. How few it occurs to, that the thorn could be removed.

  • Tim

    “#64 The Fed decides what the target rate of inflation should be, what the target rate of unemployment should be and what the size of the money supply is going to be. This is quite similar to the “central planning” that goes on in communist nations, but very few people in our government seem upset by this.”

    Yes. In fact, this is one of the planks of Karl Marx’s Communist Manifesto:

    “Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”

    • MichaelfromTheEconomicCollapse

      Very, very good point.

      Michael

    • ism

      Well, it is example of anticommunist manifesto so to speak.

      “Centralization of credit in the hands of the private banks, by means of a private entity(Federal reserve) and an exclusive monopoly.”

      If the bank was really national and run as public utility , as for example in North Dakota, there at least would no $16 trillions debt.

  • sonofseawolf

    Hi micheal and ec bloggers,
    The borrower is slave to the lender.

    I love #98! Yes there is a responsibility to act. But, for the most part those of us who read and aren’t untermensch its time to watch the bread and circus crowd and wait til rome burns.
    I dare you to write your congressman and tell them that they need to print their own debt free currency. you will not get a response, I know I’ve tried. Hahaha.

    I had heard poor brave jfk was wasted on the 50th anniversary of the Fed, but the date is wrong. I can put that liberal conspiracy theory to rest.

    About the Christians, you guys just dont seem to learn. Its the jews, or more precisely the Judeo masons and the Orthodox rabbis they hate Christians. Im wont digress further just look around and see for yourself.

    I’ll probably get deleted.
    happy holidays white humans and protect yourself at all times 14/5

  • Wally

    Why keep talking about things that will never happen:

    1. The fed will never go away and there would be nothing that could be done to make it happen. To powerful, to strong.

    2. Elect conservatives. Won’t ever happen. Even in a state that twice elected Scott Walker. One the most liberal senators to ever run got elected this last year. Look at Ted Cruz he might as well be on an island. He is a voice in the wilderness, no one wants to be associated with him. The media vilifies him. What about the budget guru Paul Ryan??? His budget as is bad for everybody. It is over, the communists have taken over every major governmental position. It will not ever change. People like Mark Levin are calling for a state convention which will never happen ever. There are not enough states to call it. Even if it started the Government will threaten them and say no federal money if you are a part of it. States won’t do it as they need the federal funding of money we don’t have. The filibuster law which now only forces a simple majority for everything. We are in a Tyranny that is not going to end.

    3. Guys like Alex jones have said 1776 will commence again if you try to take our guns. Well guess what this is 2013 and the government has way more fire power then anything a revolt could throw up against them. If you go the streets and fight sure you will die.

    4. We have to put God back into society. Will not happen. We are Babylon. Read the book of Isaiah. The next time we see God come back into this nation it will be the end and only the remnant will be there. You cannot cherry pick scripture, you must take the bible as a whole. Psalm 9:
    15The nations have fallen into the pit they have dug; their feet are caught in the net they have hidden. 16The Lord is known by his acts of justice;
    the wicked are ensnared by the work of their hands. 17The wicked go down to the realm of the dead, all the nations that forget God. We as a nation most definitely have forgotten God and in many instances God has been mocked. The new covenant makes promises and God will keep those individually but nothing in the new covenant promises that God will protect the United States. God has long since been mocked and attacked by the left in this country.

    5. We have to take care of the poor and downtrodden. Will never happen. The left for all their words about taking care of the little guy every move they make actually kills the little guy. There has been more poor created in the last 5 years then at any prior time. Michael talks about it all the time. The Government is creating a welfare state. Forget offshoots of communism. Forget socialism, marxism and the like we now are seeing pure communism from many leaders in Washington. Talk like spreading the wealth. Take from people that have and give to the people that don’t. Raise minimum wage to $50 or a $100 dollars an hour that will fix everything until you get to the reality of it all and find out that the person making $50 an hour at McDonalds can’t even afford to eat at McDonals because a happy meal now costs a $150. Sure tax the evil corporations and take all their money and force $50 an hour minimum wages on them and see what happens.

    The bottom line is this train has already gone over the cliff. There is no backing up. It is already over. Despotism is the way now. The government will never reeled in again. The unfortunate part about all of this is about 90% of the population has no clue.

    • blackciti_fo5

      Amen. God abandons nations that forgets Him. He will not be mocked. This country is done for. I was born in 84 so it was already going down the toilet before I was even born. I do work, thank God, and I will keep my job until I no longer can but this is a sad time for America and even the rest of the world. I agree with you 100%.

      • bills swills

        uh, china doesn’t believe in god and they’ve been around for 8,000 or so years

        • blackciti_fo5

          Oh okay lol

        • GSOB

          False… There are many Christians in China.

          • Mondobeyondo

            Yes, there are. You don’t hear about it because, well, they don’t WANT you to hear about it. China is very good about supressing this kind of thing.

          • baobabs

            So… how many christians does it take to ensure a nation of 1.3 billion aren’t “forgotten” by god? What a croc…

        • Bill

          you may think China does not know God. But their culture has revered higher learning and probably knows much more about God than you in your brain washed churches could ever Imagine

          • Bill

            this country murdered 100s of thousands of people in the last 60 years and you are so stupid you think you know God and people that are not in your church don’t .. To sit back and do nothing while your country fire depleted urainium all over a NAtion so the death just continues to kill evan after they left … Not one protest your going to get what you deseve from GOD believe me

      • baobabs

        Which god are you talking about? Man has created 1000′s of gods and other mythical figures over the centuries. We’re quite imaginative :)

        • blackciti_fo5

          Oh okay lol. No need to argue here. Its pointless. I do agree though, man is imaginative. VERY imaginative lol.
          To God be the glory.

    • GSOB

      Ted Cruz & Snowden just be TIME magazines’ Men Of The Year’.

      Not the pope….

      • Mondobeyondo

        Lots of other candidates they could have picked. Nelson Mandela, the young Iranian girl nominated for the Nobel Peace Prize…

  • Emmanuel Truthseeker

    Tomorrow, every Federal Reserve Bank building must be torched; it is Christmas eve and it is time to put an end to Lucifer’s reign on Earth, beginning with the destruction of his most insidious and utterly evil weapon; The Fed.

  • Houtex77

    I feel sorry for people who overpaid for property because they will be stuck with it during the coming economic bust.

  • Chris

    The Federal Reserve was never meant to become the behemoth that it is today. The only reason why the Federal Reserve came into existence was to avoid another “Panic of 1907″ style situation. The “Panic of 1907″ happened because there was a lack of liquidity and there was no institution willing to pump money back into the economy. Therefore they created the Federal Reserve, its sole function being a lender of last resort. That’s it.

    • GSOB

      Yeah right….

      • Chris

        Like it or not, that is the reason the Federal Reserve was created. But it does not have the right to stick its nose in the economy or have control of the country’s money supply. Go educated yourself and next time come and debate me with some facts instead of “Yeah right.”

        • GSOB

          Politicians will sell and ice cube to an Eskimo too.

          • Chris

            I think you have misunderstood me. First, I am against the Federal Reserve just like everybody else on this blog. Second, I am just stating the reason why the Federal Reserve was created. GSOB, no need to get defensive. And if you think getting rid of the Federal Reserve is going to make USA #1 again, you are mistaken. If the jobs that have been offshore don’t come back the USA, there were be no recovery, regardless if you have the Fed or not. The Fed has been keeping this ship from going under since 2008, and for that you have to applaud them. If the Fed was no there to prop up the system, we would have turned like Greece a long time ago.

          • GSOB

            I applaud you…

            ….not the Federal Reserve.

    • Drud

      GSOB, I understand you anger, in fact I share it, but it accomplishes nothing. Chris, you are correct that to avoid another panic like that in 1907 was the justification for the Fed, I would argue that is was not the real reason. Central Banks had been fighting for control of the currency since the Civil War and the Panic of 1907 was their excuse. Also, it is well documented that the meeting on Jekyll Island in 1910 was held in utmost secrecy. The first bill, brought forth by Sen. Aldrich, was heartily rejected. Then, it was re-drafted (but essentially unchanged) and brought before Congress on Dec. 23rd, when many legislators were away. It passed and was taken to the white house to be signed that same night, The idea that the Fed was created in order to “stabilize the economy” and “eliminate the business cycle” is merely salesmanship by the government. No different that the “Affordable Care Act,” so named because “Force Citizens to Buy More Expensive, Unnecessary, Unwanted Insurance which has nothing to do with Quality of Care Act,” would never sell to even the most gullible voters.

      • Chris

        Drud, I agree with you completely. But the Fed is accomplishing its original function, to prop up the economy. It’s been doing it since 2008. Do you agree? Yes or no. Now, that being said, the Fed should not have control of the country’s money supply. We both agree on that.

        • Drud

          I absolutely agree the Fed has held the economy together since 2008. The argument, more philosophical than practical, is whether that is a good thing. I believe the Fed’s intervention in 2008 stopped a catastrophic banking failure that may have led to the whole “chaos on the streets” scenario. The fact that they stopped a falling house of cards mid-fall is impressive to say the least. However, it is clear to anyone with even the most basic precepts of economic (ie, there aint no such thing as a free lunch) will realize that none of the underlying, fundamental problems with the big banks and the economy as a whole have been fixed. The inevitable fall will only be harder because of the Fed’s intervention. They did not prevent a collapse, they only delayed it. As to your other point, the Fed should never have existed. Period. But the fact that it does and is so intertwined with the economy in general, means that it cannot easily be disbanded. To end the Fed would cause so much devastation that it is politically impossible. Ultimately, it will destroy itself and take a good portion of our economy down with it. How that plays out on a global scale is anyone’s guess.

          • chris

            I agree nothing has been fixed, and when the house of cards eventually falls, it’s going to be the mother of all collapses. But, in your opinion, do you believe we might enter a period like that of Japan, where they have been limping along for the last 25 years? I can see that happening to the United States. Heck, look at Europe, they’ve been limping along for the last couple of years. Sure, everything has collapse for the peripheral economies, but the Euro is still intact and most importantly the Union is still intact, although there are significant cracks forming.

          • Drud

            It is a possibility, but IMO that is the worst case scenario. In a slow, drawn out, limp-along collapse the people in power continue to get away with bleeding the people dry. In a sudden, bubble-pooping collapse, the short term is much, much worse but at least we have a chance (maybe only a small one) to rebuild the right way.

        • sweetnothing2u

          The fed has never propped up the economy.. Read GSOB 3 days ago. They set up more money from no where for ua to go deeper into debit. It is only an illusion the economy ia doing better.

      • GSOB

        ” I understand you anger, in fact I share it, but it accomplishes nothing.”

        Says you. It accomplished a release for me. You can stuff it.

        • Drud

          SO, by definition, you should feel less angry after your release. Is that the case?

          • GSOB

            yes…
            Anger is not a bad thing.

          • Drud

            No. Anger has its place, but like money anger is a wonderful servant and a dreadful master.

          • GSOB

            “No. Anger has its place, but like money anger is a wonderful servant and a dreadful master”

            Get lost. Go practice your shrink profiling techniques on someone else…you confused idiot.

    • Mondobeyondo

      The entire goal of the Fed has been power, power, power. The larger it becomes, the better, as far as the top bankers are concerned. It’s ultimately not about money and finances. That’s just a means to an end, and the end is power and control.

      It’s not enough for them to control just the monetary system. They want total control. A few campaign contributions from your friends and cronies, and you can buy an election or three. Now you have the politicians in your back pocket . Buy a little justice too while you’re at it,, so you won’t get convicted or charged with any crime.. (Just ask O.J. Simpson.) And on and on.

  • Quitthevictimhood

    Shut it down…the banksters have screwed us all.

  • Mondobeyondo

    And what a fine job the Fed has done to ruin this country! Happy 100th, Fed!

    [placing fingers in rear of throat to induce vomiting]

    • Bill

      And yes again.

  • Mondobeyondo

    They’re worse than the Grinch that stole Christmas. The Fed has stolen our nation.
    The Grinch just stole Christmas.

    • Bill

      Yes

    • sweetnothing2u

      Who was that?

  • 2Gary2

    How do Republicans say “Happy Holidays?” By throwing 1.3 million
    struggling unemployed Americans out in the cold and cutting off what
    could be their only life line – federal unemployment insurance. These
    are people who, like all Americans, desperately want to work and,
    through no fault of their own, have spent more than six months looking
    for work to no avail.

    As I have said the repubes only care about the rich. They are immoral scum.

    • Bill

      The only people who deserve to be called scum are the cabal and those who support them.

  • toadsticker

    #49 The government creates debt which we pay. They use this money to pay their employees and we hope to make a living from the spending of these public employees who supposedly work for us. When push comes to shove those public employees will make sure we do as we are told and toe the line. If one of our dear leaders die we better show proper sorrow or we will be sent to retraining or worse. North Korea is just around the corner.

  • blackciti_fo5

    This is sad that we allowed this to happen. Now it seems no matter what we do the united states economy will still crumble and collapse.

    • Drud

      It will, blackciti. In fact, it must. We cannot maintain a state of growth forever and debt-based fiat currency requires constant growth or it will collapse.

  • Bill

    Important subjects not discussed on a daily basis are soon forgotten as new items or prioritized items move to the front page.

    This morning the 10 yr is very close to it’s one year high. When it sets a new one this will move to the front page again. The significance of this will be discussed at length in the media. The increased cost of managing our massive out of control debt WILL accelerate the collapse our economy and more likely the Fed.

  • Bill

    Happy Holidays to all and Merry Christmas to most.

    I saw aTV interview this morning with a Congressman that reminded me of how minority opinion is legislating away our rights and freedoms. You see it every day. From the person who gets a ticket for gardening, a child who can’t have a lemon aid stand, to a farmer who can’t sell fresh milk.

    Now there is Christmas and the countless stories about the restrictions to do with political correctness. You’ve read the numerous stories. I hope you have seen and read the White House Christmas Card. If you have I’m sure you’ll understand what is missing.

    A Happy New Year will be the impeachment of the imposter.

  • Ralfine

    Before you shut down the fed,

    have a nice christmas.

  • obamahussein

    asfflkasl;fa;lfaie limoiee

  • obamahussein

  • Patriot Alice

    If the Federal Reserve shouldn’t regulate the Banks and Financial Institutions, who should? Come on, let’s get real!

  • Gregge K Johnson

    You say congress could eliminate the Federal Reserve anytime. Within a 24 hour period all 546 politicians would be executed by :::their::: Special Agents

  • Chris

    I disagree with #24. The Fed is not behaving like Weimar, and if you are expecting a hyperinflationary situation down the road, you’re sorely mistaken. The Reichsbank printed paper money; the Fed is printing digital money. In order to have a hyperinflationary scenario, you need to introduce physical paper money into the economy. The Fed transfers digital money to the banks, then the banks transfer it to their trading accounts. No money introduced to the economy whatsoever. In order to make digital money into cold hard cash, the banks need to loan it to people and businesses. Plus, Obamacare is deflationary.
    NB: Read up on Rudolf Havenstein to get a better understanding of the situation during the Weimar Republic.

    • nomo

      Did you know the Federal Reserve was incorporated in 1913 and is a
      legally chartered for profit corporation that is NOT part of the US
      Government? The constitution explicitly states that US congress and NOT
      a for profit corporation such as the Federal Reserve should issue
      currency.

      The US currency is not associated with Gold or anything else, so what
      is preventing the Federal Reserve from crashing the US dollar and then
      issuing in Hyperinflation so only the Trillionaires will then be able to be the “Few to control the massess.”

      • Chris

        I know that the Federal Reserve is a private corporation. As I said in another post, the Fed has no right to stick its nose in the economy or have control of the country’s money supply, because it’s not part of the government.

        In my opinion, the USA is going to enter a hyperinflationary scenario when it loses its reserve currency status. Then we’re going to see all that money printed enter the economy. And we are a long way from that because the US dollar is still considered the prettiest baby in the nursery room. I travel a lot and believe it or not the US dollar in still in demand. I’ve personally visited Mexico’s, Argentina’s, Brazil’s, Africa’s black markets and the demand for US dollars is mind boggling. The currency is still considered a safe heaven in a lot of countries.

        • Drud

          I was also in Argentina in 2013. The market can hardly even be called “black.” Almost every store ignores the “official” exchange rate. You could buy virtually anything with dollars directly and get a sweetheart rate (8.5-9 pesos/dollar when official is 5.25 or so.)

  • Scott G. Beach

    President Obama should:

    (1) Stop printing Federal Reserve Notes.

    (2) Ask the 12 Federal Reserve Banks to wind-up their affairs and dissolve.

    (3) Start issuing United States Notes and gradually withdraw Federal Reserve Notes from circulation.

    (4) Order the Exchange Stabilization Fund to begin purchasing gold for $10,000 per ounce.

    (5) Begin issuing $10,000 coins which have a 99.99% pure gold core that weighs one ounce and an outer surface electroplated with pure platinum. See 31 USC § 5112(k); “The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.”

    (6) Use those platinum (and gold core) coins to pay off the national debt.

    (7) Ask Congress to adopt a bill that defines “dollar” as one ten-thousandth of one ounce of gold.

    (8) Sign that bill into law.

    • GSOB

      You missed something.
      He’ll have to run the whole idea, up his chain of command for a consensus at the top of the pyramid BEFORE it’s rammed through the government and to the people.

  • insaan

    the good people called ”jews” who run this bank(and many others)will not let this(end the fed) happen

  • Rufus T Firefly

    America had plenty of economic downturns (“Panics”) and plenty of wealth and income inequality before the Federal Reserve System. John Pierpont Morgan endorsed the creation of the Fed, that is good enough for me to know it is the best system

  • jn

    balderdash

    • sonofseawolf

      Really, why?
      Do tell.
      Protect yourself at all times 14/5

      • jn

        18/3

        • sonofseawolf

          Hi Jan,
          Is that you IQ?
          Pawrumpkins are #1 in fun.
          Happy yule white humans and protect yourself at all times 14/5

      • Mondobeyondo

        24/7/365

  • Pharaoh Thoth

    Have no fear i will shut it down……………….

    • Mondobeyondo

      Good luck!

  • duckhead

    The end of the Fed and their money creation enterprise will only happen when other countries back their own currencies by gold or another commodity and demand the US do the same in order for international trade to continue. China and India are already preparing for such a move by increasing their holdings of gold and silver. Some claim that the US government has sold most of it’s gold to keep the price of the metal low and prop the dollar. If this rumor is true, then the coming gold standard will make the US dollar worthless on the international market due to too many dollars and too little gold. Hopefully, at that time, our Congress will take back control of the US monetary system. I realize nobody in the US believes this scenario is even possible, but it may be closer than we think. I doubt there will be much warning before it happens.

    • Lennie Pike

      This will happen in 2014, probably before the end of summer. I know the precious metals scene very well and it is at the crux of the mater since it is money and nothing else is.

  • 2Gary2

    George Carlin said it best;

    “It’s called the American Dream because you have to be asleep to believe it.”

    Upward mobility has been steadily, purposely eroded from the top, by
    design. The uber-greedy 1% have decided to gut the lower classes and
    payed for the influence in congress to get it done.

    Hey tea billies/conservatives–stop shilling and defending the 1% and start taxing them hard and spreading the wealth. Show the country that you actually have a brain cell.

    • Mark Caldwell

      The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes.

      We wouldn’t have problem if the Fed wasn’t dedicated to inflating the money supply, undermining the currency.

      If the government didn’t hand out welfare to every ghetto dweller and trailer park refugee.

      If “too big to fail” was a bad dream and they actually let these monolithic financial entities suffer their over leveraged positions and the consequences.

      We don’t defend corporatism, which is modern day quasi fascism.

      Gary, quit acting like we have an actual free market capitalist system, when you know well we have a crony corporatist system combined with epic political malfeasance.

      No, we have a government who denies the will of the people and bails out banks, mortgage institutions, foreign financial institutions. Denies purchase of insurance across state lines, and then Obamacare down our throats, “either buy insurance from the exchanges or pay fines”

      Nothing will ever get better if the will of the people is mocked, and denied outright.

      Upward mobility died when the Federal Reserve was created and big business got in bed with big government creating a revolving door of kleptocracy and modern day serfdom.

      • 2Gary2

        the top 10% of taxpayers have received 95% of the economic gain so by your own numbers they are undertaxed.

        You can not cherry pick taxes like repubes do. When ALL taxes are included the rich and poor pay pretty much the same %.

        How about the cap on social security taxes is lifted so the rich pay their fair share and better yet do not let them collect ANY social security. Just make them pay. Capital; gains should be taxed as the income it is.

        You see most folks are on to the conservative cherry picking of “facts” and you conservatives are not even taken seriously anymore. You are a joke.

        • GSOB

          kaboom…….

      • GSOB

        tah tah! Splash!

  • Rain23

    Looking for some gold and silver confiscation pretty soon, with the usual BS “necessary for the good of the country” attached. There’s a reason why people in third world countries (like our southern neighbor) like gold as a family investment. Having your gold as bling doesn’t make sense when you’re on a limited income, or so I thought. Then I talked to some of the migrant workers who came through our hospital and they explained that the government goes after gold and silver currency much more often than personal items. They were amazed that in this country private citizens could walk into a shop and buy gold coins on a working man’s wage if we saved up. Everyone I talked to said “you have to have something set aside. Sooner or later, the money they give you for work is no good.” I’m beginning to understand their viewpoint.

  • lescaldwell

    This proves my position that money is fictitious.

    • Mondobeyondo

      Depends on your definition of “money”.
      If you mean Federal Reserve Notes, you are right. But real money, is gold and silver.

      • Lennie Pike

        Harrumph!

  • Lennie Pike

    #75 – They are Luciferians
    #91 – They want this to happen, it is the plan for the world to be operated as China is. World Fascism.

    The people behind the Fed control everything. Control fiat money – control everything which includes the foreign policy of the U.S. You will soon wake up and wise up U.S. Military, you are not fighting for America and freedom, you are fighting for the exact opposite. It is very difficult to understand that you can be so ignorant, non-thinking and uninformed to believe that you are fighting for freedom. See # 75.

    • Lennie Pike

      My bad. Not #75, but #65.

      • Lennie Pike

        And their paid actor Obama (self proclaimed Christian) demanded that a statue of Jesus Christ which was inside the college auditorium where he was speaking be covered with a bed sheet. Whether President or not, a highly unlikely act by a Christian.

        Think we’re being lied to folks? Just a little maybe? By all of those in authority?

        Let’s take our country back, our government was overthrown in 1913 – the one we have is not Constitutional.

  • birdbath

    the federal reserve first gained control of our money supply in the 1700′s, Lincoln Garfield and Kennedy tried to remove them from power but were murdered

  • birdbath

    the federal reserve print money out of thin air, then give it to their banking cartel calling the theft a loan collecting interest, currently taking near 40 % of federal taxation as interest on old loans THEFTS, if they ever collect the theft then they will have stolen it twice with interest.

  • Fedup

    Doesn’t the President appoint the Fed Chairman?
    And if so, how is it totally independent from government then?

    • Jimbo

      It is all part of the charade. Perhaps the question should be, is the Government independent of the Fed?

  • Mondobeyondo

    CNN is reporting that Wall Street has had “50 record highs in one year”. But they refuse to say a word about how much all that money is worth. They didn’t allow for inflation did they?

    In 2013, the value of these Wall Street net gains (woo-hoooo!!) – isn’t as much as it would be in say, 1927,or 1955. If I were to speculate – the actual net gain in real tangible profit is actually LESS than it would have been in either of those years, under similar circumstances (allow for the depreciation of the dollar, please.) Record highs? Bah humbug! We’re actually poorer.

    We are treading water, and that’s being generous. The ship is going under.

  • Mondobeyondo

    The depression is here, folks..

    They won’t tell you. I just did.*
    * – Walter Mondale, 1988, if memory serves me right

  • Lennie Pike

    Hopefully the market will reset the price and everyone will tell the U.S. Government to go pound sand if they think that after what they have allowed (been bribed) to allow to happen to the U.S. $ that they have the right to set the price of gold. The government doesn’t set the price anyway – not even the commodities market sets it like they do most commodities. A small group of criminals in London set the price of gold everyday to exactly where it benefits them the most. Hopefully Americans will also not allow “their government” to continue issuing federal reserve notes “backed” by gold or silver or to issue any other type of fiat money – even U.S. Treasury notes “backed” by gold unless everyone can actually redeem their notes at the same time if they so wish.

    Hopefully, after the total chaos which is arriving, and that right soon, the value of gold will be set on Main Street and money will be gold and silver coin as per our U.S. Constitution whether any other part of the U.S. Constitution is being enforced or not.

    Gold and silver functions as money and nothing else does. Well I guess that depends on what the meaning of the word “function” is. It has only one meaning!

  • planckbrandt

    Fractional-reserve banking is the culprit here. Fractional-reserve banking linked to public borrowing with a central bank is only one flavor of this corrupt system. We need to get rid of fractional-reserve money creation in private hands. The Fed itself serves as a useful diversion from the totality of the money system itself which is really the banks themselves who own the Fed.

  • 0jr

    go bankrupt .don’t pay nothing back to the fed ban them ,prosecute them and tar and feather them and run them out of town on a rail.destroy them the families all of them

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