I stumbled upon one of my old textbooks which said: “One of the statutory goals of the Federal Reserve System is to ensure stable prices. This goal can only be achieved if the public believes that the Federal Reserve is taking effective measures to ensure them.”
That is how the Fed is supposed to operate. Created in 1913, the Federal Reserve System had two prime directives: “The dollar over the President; the economy over the Party.”
The Federal Reserve is a traitor to the American people and the nation it has sworn to protect.
Recently, the Fed has acted less like a central bank and more like President Barack Obama’s personal piggybank. The Fed seems hell-bent on re-electing Obama for a second term regardless of what it costs.
How is the Fed doing this? By creating trillions of new dollars to re-flate a U.S. economy that is fundamentally flawed by the unprecedented spending of a President and Congress.
Meanwhile, people like Congressman Ron Paul (R-Texas) are not turning a blind eye to Bernanke.
According to Paul: "There is something fishy about the head of the world’s most powerful government bureaucracy, one that is involved in a full-time counterfeiting operation to sustain monopolistic financial cartels, and the world’s most powerful central planner, who sets the price of money worldwide, proclaiming the glories of capitalism.”
And there is more to this than just Paul’s opinion. There is hard evidence that the United States — under the leadership of Obama and his loyal lieutenant, Bernanke — is headed for an inflationary maelstrom. Fueled by the Fed’s program of quantitative easing, MZM money supply has soared $475 billion in the past six months. This is the money the Fed lends to the banks which is then lent out at a multiple. That is why MZM is sometimes referred to as super-money, and can be a catalyst in creating inflation.
Another broad measure of money, M2, has also been rising at an alarming rate, as you can see in the chart below.
http://www.personalliberty.com/conservative-politics/government/bailing-out-obama-the-federal-reserves-new-mandate/
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