The Fed and History
The stock market enjoyed a big rally this past week.
Why, you may ask?
The answer is simple. Next week the Federal Reserve meets once again. And Ben Bernanke and the Fed are expected to have some form of more free money giveaways to Wall Street to the tune of hundreds of billions of dollars.
The Federal Reserve just continues on its path of destroying the value of the US dollar (down more than 80% since 1971) in order to please Wall Street.
President Obama's favorite economist, John Maynard Keynes, wrote some very prescient words in his 1919 classic, “The Economic Consequences of the Peace”.
In the book, Keynes spoke about Vladimir Lenin – founder of the USSR and of the Soviet Communist Party.
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
Keynes agreed with Lenin's assessment saying, “There is no subtler, no surer means of overturning the existing basis of society than to debauch [debase] the currency.
He then went on to point with alarm to post-World War I Germany where officials were printing lots of money. Keynes' warning went unheeded, however.....
The money printing only accelerated, eventually destroying the German middle class. And in the ensuing social chaos, we all know what followed.
As Mark Twain was quoted as saying, “History does not repeat itself, but it does rhyme.”
The fact is that the US dollar has shrunk greatly in value since President Nixon took the United States off the gold standard in 1971. Since then, paper dollars have been backed with, well, nothing.
Americans need to ask themselves one question.....
Why in the world does the Federal Reserve continue its mad money printing when it is benefiting only one segment of society (Wall Street) and is causing the middle class to shrink every day.
Think about the Fed's policies the next time you go to the grocery store or fill up your gas tank. The higher prices are largely caused by the Fed's money printing.
Why, you may ask?
The answer is simple. Next week the Federal Reserve meets once again. And Ben Bernanke and the Fed are expected to have some form of more free money giveaways to Wall Street to the tune of hundreds of billions of dollars.
The Federal Reserve just continues on its path of destroying the value of the US dollar (down more than 80% since 1971) in order to please Wall Street.
President Obama's favorite economist, John Maynard Keynes, wrote some very prescient words in his 1919 classic, “The Economic Consequences of the Peace”.
In the book, Keynes spoke about Vladimir Lenin – founder of the USSR and of the Soviet Communist Party.
“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”
Keynes agreed with Lenin's assessment saying, “There is no subtler, no surer means of overturning the existing basis of society than to debauch [debase] the currency.
He then went on to point with alarm to post-World War I Germany where officials were printing lots of money. Keynes' warning went unheeded, however.....
The money printing only accelerated, eventually destroying the German middle class. And in the ensuing social chaos, we all know what followed.
As Mark Twain was quoted as saying, “History does not repeat itself, but it does rhyme.”
The fact is that the US dollar has shrunk greatly in value since President Nixon took the United States off the gold standard in 1971. Since then, paper dollars have been backed with, well, nothing.
Americans need to ask themselves one question.....
Why in the world does the Federal Reserve continue its mad money printing when it is benefiting only one segment of society (Wall Street) and is causing the middle class to shrink every day.
Think about the Fed's policies the next time you go to the grocery store or fill up your gas tank. The higher prices are largely caused by the Fed's money printing.
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Content copyright © 2023 by Tony Daltorio. All rights reserved.
This content was written by Tony Daltorio. If you wish to use this content in any manner, you need written permission. Contact Sandra Baublitz for details.
