1.15.2010

The FED Seeks Control, Not Profits.


Gary North is usually on top of matters when it comes to the Federal Reserve. This isn't pretty!

This report is from Fortune. It says that the Federal Reserve System made $51 billion in 2009, and it returned over $46 billion to the government.

The Federal Reserve System is not about making money at the expense of the government. It is about using a government-granted monopoly over money to regulate the economy to the benefit of a handful of large banks. This has always been its primary function.

The banking system is a cartel.

The Federal Reserve System is the cartel's protector and enforcer.
Make Gary a daily read. He's a pretty smart cookie!

5 comments:

Woodsterman (Odie) said...

I'll look him up Sharky, Thanks.

LandShark 5150 said...

ODIE -- you wont be disappointed. Thanks for the read and support. sharky

jadedfellow said...

Hey Sharky,

You are on to something that is destroying the average fella's ability to prosper based on self initative.

It is, in my opinion, one big ponzi scheme that will make Madoff look like he was still in preschool. The Fed, Treasury, Congress and Abombastration are all manipulating the medium of exchange we are stuck with.

The Fed prints a bunch of paper, the White House forces the banks to take a bailout, and Congress screams when the banks make money off the money the guv made them take. Banks borrow from the treasury at zero percent, turn around loan it out at 5 to 8% and make a killing. "Bad bankers" says Congress and hounds them like they are raccoons that steal the dog's scraps off the porch. Tax-tax, regulate-regulate the dogs of money exchanging they are the enemy is the mantra, but how come the pusedo commie politicians don't fess up to their role in the mess?

The Fed prints a bunch of fictious paper blank checks. Then proceeds to invest in a stock market that was gut shot by a mortgage crisis. Of which was created by government insistence that everybody should have their own home, even if they can't pay for it. I won't even get myself started on Bawnnie Frank's Fannie and Freddie fiassco.

I concur the Fed is a menace, yet without the complicity of the other mal-contents we would not have the direness we now find ourselves in.

My apologies for throwing you a curve ball post. You have probably grown accustomed to my other type of personality, but this here redneck pays attention to what the sexual intercourse is going on and I am peeo'd.

jadedfellow said...

Oops,

I don't like bankers either. Sorry if I gave that impression. The Christ gave the example I tend to follow, whip the money changers when they cheat the average folks.

Ramblings From a Young American said...

Barry Goldwater would be proud!

His first rule was that objection to Federal Aid, is because it invariably leads to Federal Control.