It is an urban legend, almost a folk myth, that the Federal Reserve exists to keep the financial system stable, for your own good of course. - This cover-for-action has been drummed into the public's head so well, that when Dr Ron Paul says things like "end the FED" or calls it "100 years of failure" most think he is a kook. 'Whatever would we do without the FED?' the brainwashed sheeple say, like good little debt slaves. Few understand that America's central bank is a for-profit privately-held bank. Looking at several hundred years of history, comparing the pre-FED to the post-FED century paints an interesting picture. - The FED has been good for itself, and made a LOT of money off the interest on the loans it has made to the USG. From a banker's perspective, this is a big success. - If you are an average person, paying for things with a Dollar that's been devalued by 97-98% since 1913, well, then from your perspective things really suck and the FED has done you no favors. Neither has the USG for that matter, since they are only to happy to pay the interest on the money they borrow from the FED with your tax money.
Sunday, 22 December 2013
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