Something amazing has happened in the last 2 years. Ben Bernanke has become a household name, ten thousand people filled the Target Center last year chanting “END THE FED! END THE FED!”, thousands of people have been attending rallies with signs with the slogan, “End the Fed” and a book of that name is a best seller. Not to mention, recent polls show that nearly 80% of Americans support an Audit of the Federal Reserve. While that may seem amazing to most people, what I find amazing is that the main stream media is somehow oblivious to these facts. Sure they mention Bernanke and the Fed (briefly) but they miss the big picture: Central Banks cause inflation! If you don’t believe me, just read the Education Section of the Federal Reserves website:
“The Fed is best known for its role in making and carrying out the country’s monetary policy – that is, for influencing money and credit conditions in the economy to promote the goals of high employment, sustainable growth and stable prices. The Fed does that by maintaining inflation at a rate that does not affect business or household spending decisions.
What happens when money and credits rise?
Inflation is caused by excess growth of money and credit relative to the supply of goods and services in the economy. Money includes cash in circulation, plus the deposits that people and businesses have in bank accounts; credit refers to the funds that banks and other lenders can lend. The Fed must make sure that money and credit don’t grow too rapidly or slowly.
How does the money creation affect interest rates?
The Fed changes the money supply by increasing or decreasing reserves in the banking system through the buying and selling of securities. The changes in the money supply, in turn, affect interest rates.” (emphasis added)
You read that correctly, the Fed ADMITS to causing inflation, although they define it slightly differently than it should be, they insert the word “excessive”; inflation is actually ANY growth of the money supply, which the Fed controls by use of a printing press, computer and the ability to make policy as to the rate of fractional reserve banking.
The legal tender law forces the use of a fiat currency – a currency not backed by a commodity. The “dollar” (FRN) used is not backed by a commodity, but rather, according to the US Treasury, “The (Federal Reserve) notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are “backed” by all the goods and services in the economy.”
The Federal Reserve is guilty of theft and fraud as a legalized cartel that controls the money supply of the country, and to a lesser extent, the world. We need to pressure Congress to not only “Audit the Fed”, but to ultimately “End The Fed” and pass: the “Honest Money Act” that would repeal the legal tender law; the “Free Competition in Currency Act” that would repeal the government monopoly over the creation of coins for use as currency; & the “Tax-Free Gold Act” that would prohibit federal and state taxes on precious metal coins and bullion.
As long as a group of private bankers is allowed to control the currency, a people are never really free.