The Fed Controls the Supply of US Dollars and therefore, sooner or later, the price of the US dollar. The Fed has only been around since 1913. It is not needed at all since it is the main culprit behind the Greater Depression that the US has entered into. This is something that should be done be a market(s), not a central bank. The issuance of money and currencies should be done completely by private enterprise like it mostly was done previously in the US. This was fundamental to the world history making amount of wealth that the US ***created**** (there is no fixed amount of wealth in the world) in its short little life. A central bank is part of central command of an economy and the actions of people. It looks like many/most people in the US did not learn anything from the implosion and break up of the USSR.
Ron Paul is interviewed (again) on the subject by MSNBC no less. He is one of the very few who can intelligently, knowlgebly and honestly talk about money, banking, economics and individual rights. Looks like some of the mass media are sensing that the citizen units are getting restless, catching on to the Fed, and are realizing that they (MSNBC) have to change their tune or they will look completely corrupt like the Fed or completely useless as a news source:
An example of what is in the White House, what is "leading" the US:
"We have to spend money to keep from going broke," says Joe Biden, a man who is out of his depth in the bath tub. - Bill Bonner
Another example of attempts at central command, in this case "one size fits all" of major parts of an economy. A schematic plan of the proposed federal government take over of the medical industry and the medical insurance industry in the US:
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It's Not An Option
By INVESTOR'S BUSINESS DAILY | Posted Wednesday, July 15, 2009 4:20 PM PT
Congress: It didn't take long to run into an "uh-oh" moment when reading the House's "health care for all Americans" bill. Right there on Page 16 is a provision making individual private medical insurance illegal.
IBD Exclusive Series: Government-Run Healthcare: A Prescription For Failure
When we first saw the paragraph Tuesday, just after the 1,018-page document was released, we thought we surely must be misreading it. So we sought help from the House Ways and Means Committee.
Still Not An Option
By INVESTOR'S BUSINESS DAILY | Posted Tuesday, July 21, 2009 4:20 PM PT
Health Care: Last week we said the reform plan moving through the House essentially outlaws the private individual medical insurance market. Critics said we were being dishonest. But we're standing by our story.
This is an attempt at full bore Communism at its finest. The exact opposite of what increases wealth in the world. Who the heck would want to be holding US dollars with this going on? The ignorant, the dumb, the "sharks that swim on the land" (- Jimmy Buffet). One thing is for sure, the share price of USA, Inc. (the US dollar) is going down. The US Treasury is broke and will probably be borrowing around 2 trillion dollars this fiscal year. At about the half way point, they have already borrowed about 1 trillion dollars. That is running a deficit of about 2 trillion dollars for this current fiscal year. The federal take over of the medical world inside the US would just make the situation much worse. It is complete insanity, ignorance, power lust and the blindness of arrogance.
A pretty good summation of the current actions of the Fed and US Treasury:
"While the mainstream media is trying to claim foreigners are still supporting our Treasury Markets a detailed analysis points in a totally different direction. I have maintained for the past few years that if you are worried about a currency crisis the proper portfolio allocation is T-Bills and Gold. Theoretically, the only risk in owning T-Bills is the devaluation of that currency. A proper allocation to Gold should balance that risk. According to the Treasury Capital Flow Reports, over the past 12 months the amount of Treasury Notes and Bonds held by Foreign Central Banks has remained relatively constant around $1.7T. At the same time T-Bill holdings have increased from $226B to $586B. Custodial Holdings of Foreign Central Banks at the Fed of GSE Agency and Mortgage debt has fallen from $968B to $807B. Meanwhile, according to the Federal Reserve’s Balance Sheet the Fed has sold all of its T-Bills and increased holdings of T-Notes and Bonds from $412B to $618B and GSE Mortgage debt from 0 to $639B. The Federal Reserve has taken over the risk in Long Term Securities and Housing Credit by printing as many $’s as necessary to support our financial markets. These $’s continue to flow directly to Wall Street and Foreign Central Banks who are redeeming their securities. China has made it clear they are diversifying into raw materials (including Gold) and energy. The European Union has stopped selling any significant amounts of Gold. It is quite clear to me Foreign Central Banks are preparing their balance sheets for the devaluation of the $. The Federal Reserve is monetizing the debt and equity markets (devaluing the $) each and every day and that process is accelerating. There is no reason to believe the risks of a currency crisis are receding."
Almost all people in the English speaking world do not realize that they are heading for a change in the world's monetary system from what they know it to be now. Having actual real money (gold, silver), not currencies or government fiat tokens is going to make a huge difference for those few who get what is going on in the big picture.