LITTLE ROCK — The most important political issue in America today is one barely discussed by most candidates and largely avoided by the media. That issue is the Federal Reserve System and the way it provides the federal government and banking insiders with a virtual “magic money machine.” With the MMM, they can suck the value right out of your holdings and into theirs. They can magically cause every losing bet they make to show up on the people’s ledger instead of theirs. They can and have used it to vastly expand the reach and power of the federal government, and conceal the true cost of doing so.
If you or I had a Magic Money Machine, over time we would grow all powerful. The Feds and the banksters have a Magic Money Machine, and it’s called the Federal Reserve System.
Over time, they are growing all powerful. Right now nobody in Congress is even allowed to see what they do with this Magic Money Machine, much less restrain it. If the people could see what the Fed and the banksters were using the MMMfor, they might demand it be unplugged. There is already powerful evidence to suggest they are using it to systematically loot the American people. A real audit of the Federal Reserve would prove it, and that is probably why the elites are fighting such an audit tooth and nail. The audit Obama and company recently agreed to is a sham audit that is not allowed to view key areas of Fed operations.
This looting through some form of central bank has happened before in our history. The first time Thomas Jefferson put a stop to it early. The second time, it was a harsher struggle, but the American people raised up “Old Hickory” (Andrew Jackson) who finally won the battle against the Fed and banksters of his day.
“Gentlemen, I have had men watching you for a long time, and I am convinced that you have speculated in the breadstuffs of the country. When you won, you divided the profits among yourselves, when you lost, you charged it to the bank ... you are a den of vipers and thieves, I intend to route you out, and by the grace of God, will route you out.” - Andrew Jackson
Different generation, same scam. Now days the mechanisms by which this process of gambling, keeping what you win and charging to the public what you lose, is called by names like the Fed Discount Window. TARP was actually the least odorous of the programs that were initiated or expanded by the original bailout legislation.
In 1913 the banksters got their hands on a MMM for the third time when the Federal Reserve Act was passed. They immediately flooded the market with credit and brought us the roaring ’20s. That of course precipitated the Great Depression. They thought the problem was that the dollar was connected to a fixed standard of value - 1/20th of an ounce of gold. The fact that people could redeem their dollars for gold in response to government overspending limited how many fiat dollars their MMM could create out of thin air.
Their “solution?” FDR made it illegal for Americans to own gold. He gave them a fixed exchange rate for the gold he confiscated, and then immediately devalued the dollar. Like the bailouts, it was a massive transfer of wealth to the government and their friends. More importantly, individual Americans lost their power to call the federal government to account when it overspent. Government has grown ever since, and will continue to until we unplug the MMM.
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Mark Moore is the lead writer for an Internet blog on matters pertaining to Arkansas culture and government, Arkansas Watch, and on Tuesday nights is the host of an Internet-based radio program, Patriots on Watch. He can be reached through The Times at [email protected]. fThe opinions of the writer are his own, and are not necessarily those of The TIMES.
Opinion, Pages 4 on 05/12/2010