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Rate of Wealth Destruction "Too Low" According to Fed

At the prospect of raking in new billions from taxpayers and following the authorization of a $600B Treasuries issuance, Fed Chairman Bernanke has expectedly deemed the current rate of wealth dilution “too low”.

Two Federal Reserve regional bank presidents confirmed that a further nearly trillion dollars would be created out of thin air —and paid for by the American public— to keep full the coffers of the Fed’s private member banks, who will be owed payment of interest by the American people.

“I fully anticipate we will purchase the entire amount,” said a smiling Eric Rosengren, Boston Fed President, referring to the $600B in Treasuries and $300B in mortgages up for grabs.

Several Republican lawmakers were on hand to pay lip service to the idea that Americans might keep what they have rightfully earned, with Wisconsin Representative Paul Ryan going as far as to call the move a “big  mistake”.

Following the catastrophic failure of the establishment’s last pursuit of economic stimulus and the Fed’s one-hundred-year assault on the value of the dollar —which the Fed has successfully reduced by about 98% — the Republican resistance to what amounts to a $3000 tax on every American man, woman, and child was less than satisfying for the vast majority of Americans, or those who will never see a dime of the money.

“While most Americans don’t yet understand or appreciate the significance of this sort of wealth dilution, almost every American understands that something is terribly wrong”, said Keith Harris, who serves as the American Third Position economic policy analyst.

“Essentially, the U.S. government has forfeited its right to create, issue, and regulate our money supply. It’s surrendered this right to the Federal Reserve, which creates money of out of thin air and lends it to the government at interest. ”

“The A3P has got the right solution: abolish the Fed and incorporate the power to create, issue, and regulate the money supply into an institution whose overseers are subject to the scrutiny of the democratic process. And let interest rates be determined by markets, not by a group of bankster elites who stand to profit by it. “

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Category: American Voice, Establishment News

Comments (4)

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  1. JamesinUSA says:

    The printing and issuing of currency should be the responsibility of our Federal Government as our Constitution initially specified , and it's ultimate value should lie in the value of our Natural Resources, the Labor of the American Worker, and our National Security, all of which has been greatly degraded through massive non-white immigration, outsourcing, and the exhausting misuse of our military in trying to maintain a Global Empire. The Federal Reserve and it's inappropriate power and influence over our economy is unexceptable and should be stopped.

  2. John Schmidt says:

    With the exception of Ron Paul and a handful of politicians that I can count on my toes, all the rest of the rats in Congress have been bought and paid for by the banksters. How the anti constitutional Federal Reserve has existed for almost the last 100 years is beyond belief, and its record of destroying the dollar is proof of its failure. But how are you going to stop it James? Specially when Congress is the enabler. This crisis is not just happening, it is being created for a reason!

  3. Bon of Babble says:

    If you haven't see this YouTube video, please watch it, it's a wonderful explanation of the realities of QE II:

    Quantitate Easing Explained
    http://tinyurl.com/38rd6jy

    Share if with everyone you know, pass it on (I have). Perfectly explains 'The Ben Benach' and 'The Goldman Sachs'

  4. lewis winston birm says:

    .This is the problem with having Fiat Money whose value is determined by unelected bureaucrats

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