but threedonia reminded me how dire things have become.
In REAL terms:
On December 23, 2013, the Federal Reserve System will celebrate 100 years of centralized banking and printing funny money. The creation of the Fed marked the beginning of America’s rampant inflation rate. For the first 125 years of American independence, inflation of any significance did not occur. What $1.00 purchased in 1789 could be had for a very reasonable $1.08 by 1913. Measure that against what it costs today for the same amount of goods; roughly $25.00. This means the current value of today’s dollar is about .04 cents of what it was in 1913.
Ostensibly, the Federal Reserve System was put in place to prevent “bank panic,” stabilize the dollar and resist inflation. Democrat President Woodrow Wilson was convinced that “central planning” by the federal government could replace incremental market forces. He’d been influenced by a work of fiction called Phillip Dru: The Administrator, which glorified intrusive governmental intervention into every aspect of American life. In it, Colonel House – the book’s author and “adviser” to President Wilson – weaves a tale of “enlightened” central planning as a means to achieve “social justice.” So Wilson believed a Federal Reserve System would end poverty and cure all manner of imagined market woes. In a novel, even the most implausible concepts don’t have to be impossible.
It is important to note that the Great Depression did not happen until nearly two decades after the Federal Reserve System came to be. Socialist thinkers and Keynesian economists seem to believe that Capitalism itself was responsible for the market collapse. An interesting position to hold, considering that the 1929 stock market crash happened 15 years into the Fed’s command & control doctrine. The very same policies which were put into practice as a means to eliminate even the possibility of anything like that occurring can be directly linked to the Crash. They are also responsible for the Great Depression lasting 15 years longer that it should have. America should remember that, as the nation celebrates 100 years of the Federal Reserve System pumping trillions in virtually counterfeit funny money, into the economy.
Kinda makes one think, doesn’t it?
AUDIT THE FED. DISENFRANCHISE IT. AND IMPRISON THE CRIMINALS. IS THAT CLEAR ENOUGH?