Segment 1: Between a Rock and a Hard Place SEGMENT BEGINS AT 00:38 Economist Jerry Robinson provides his signature commentary on the momentous news stories that have been making waves in the financial world and shares profitable investment strategies, as well as...
IT’S LONG PAST TIME TO END THE FED
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America’s ship is sinking. The financial tidal wave that is hurtling towards our shores will rock this nation’s economic foundation to its very core. The personal liberty of all Americans is under constant attack by a bloated, corrupt, and out-of-control government, which appears increasingly paranoid. The Federal Reserve system has contributed greatly to America’s economic problems for the last century. There is a better alternative: competing currencies.
by Jerry Robinson, FTMDaily.com Editor-in-Chief
Let’s be blunt: The Federal Reserve is a fraud. It is not “federal” and it has no “reserves.” It is an appalling collusion of global banking interests under the careless eye of the Congress. Despite its insistence to the contrary, the Fed weeps no tears for America’s middle class. Over the nearly ten decades of its existence, the Fed’s monetary policies have encouraged imbalances in capital allocations and malinvestment. The Fed blows bubbles and pops bubbles. It is a game to the elites. But to the average American, the Fed’s bubble cycles represent the reality of unemployment, foreclosures, bankruptcies, and homelessness. At the dizzying heights of Washington’s corrupt financial machine there appears to be little regard for the average middle-class working family.
The Fed is a leach upon the American economic system. It is an extraneous middle man. The U.S. Constitution gives the express mandate to coin the nation’s money supply to the Congress alone. No outside private banks were to be given this job. As it reads in Article I, Section VIII of the U.S. Constitution:
“The Congress shall have Power… To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”
The Mystery of the Federal Reserve
The money creation process should be ripped from the hands of the private banking interests and rightfully restored to the Congress. The American people were never given an opportunity to vote on such a seismic policy shift, which effectively shifted control of America’s monetary system from the more accountable stewardship of public hands to the dark recesses of private hands.
The Federal Reserve is the third central bank in America’s relatively brief existence. In 1913, (on December 23, 1913 to be exact), the Congress passed the Federal Reserve Act. In one century (1913-2014), the Fed has promoted consistently destructive monetary policies.
Since its inception 100 years ago, the Fed has systematically attacked the U.S. Dollar (under the guise of “monetary policy”), destroying its value by over 90%.
Never again should our nation be held hostage by globalist banksters to whom interest must be paid on our own currency.
The Fed serves America’s wealthy investor class. The deck is stacked against America’s middle class. The future is not bright. 2014 is a year of preparation. It’s time to really begin saving money and then diversifying those savings into precious metals and stable foreign currencies. Investors should remain widely diversified. Remember, the rules of the game can change at anytime. Be prepared for anything.
ACTION POINT #1: End the Fed. Take Their Gold. Deport Their Principals.
We Are On Vacation This Week
We are on vacation this week. Our regular FTMDaily Briefing, complete with news headlines and daily charts, will resume on March 3. However, we will continue providing our daily trading idea for FTM Insiders. Have a great week!
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PODCAST: The Case for Europe
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