The U.S. Treasury never wanted to surrender control of its currency to a quasi-private agency. But after enduring a recent financial shock and subsequent bank run in 1907, Congress wasn’t careful enough when creating our central bank, the Federal Reserve. Today our currency is called “Federal Reserve Notes.” Its namesake, although openly admitting it is a not a federal agency, has near-complete control of our money.Read more ›
Post Tagged with: "Federal Reserve"
Although you may not realize it, you likely hate the Federal Reserve. Americans in general have always distrusted the banking cabal that later produced our central bank. Back then, they just called it “Wall Street” because all the banks were in the New York financial district. Today we don’t even remember what we mean by the nickname. We mistakenly believe it has something to do with investing in the stock market.Read more ›
On May 18, activist Mark Passio and his wife, Barb Marinelli, were arrested and handcuffed for distributing “End the Fed” literature near Independence Hall in Philadelphia, Penn. by federal park rangers. The shocking incident was caught on video.Read more ›
The Federal Reserve is the central bank of the United States. It is in charge of printing money issuing bonds and setting interest rates for those bonds. Article 1, Section 8 of the Constitution says, “The Congress shall have Power … to coin Money, regulate the Value thereof.” The Federal Reserve is never mentioned. Has it always been this way? Does any other country do this? How did the Federal Reserve get its power over our currency and our economy? And the issue that so many are interested in today: is the Federal Reserve constitutional?Read more ›
The problem isn’t that we don’t know the answers. Instead it’s that we don’t want to face up to the fact that the free ride has to stop if we’re going to get off before we land in Athens. America’s economy is beginning to resemble one of those increasingly ridiculous action movies where the hero gets blown up, shot, stabbed, and hit with a brick only to jump up ready to roll. It’s time our leaders learn we have learned that blowing up a bubble to take the place of the last burst bubble is not building an economy.Read more ›