By Chris Rossini
The other day, President Trump said that the Federal Reserve is his "biggest threat." President Trump knows that people vote primarily with their wallets, and if the Fed pops the bubble that they created now, it runs the risk of the average person attributing the economic pain to Trump.
The average person doesn't know what the Fed is, or what it does, and President Trump has not helped in that regard. Instead of explaining to Americans that we're in a massive artificial economic bubble created by the Fed, the President has opted to call it 'the greatest economy in history,' and has stamped his name on it.
The Fed may be the "biggest threat" to Trump's presidency, but that is a very myopic view to take. There are 300+ million Americans who suffer under the Federal Reserve on a daily basis. Let us count the ways that they do us perpetual harm:
The Fed is unconstitutional. Congress had no authority to create the Fed back in 1913.
The Fed diminishes the purchasing power of every dollar that we each have. They have the power to literally create money out-of-thin-air. For each dollar that they create (and they created TRILLIONS of them) the value of dollars outstanding decreases. Why do you think hamburgers used to cost a quarter? The burgers didn't change, but the value of the dollar depreciated substantially.
This makes the Fed a legalized counterfeiter. No one is legally allowed to counterfeit money....except for the Fed.
The Fed finances the growth of government. Money-out-of-thin air is used to purchase government bonds. These newly created dollars are then used to expand welfare, warfare, and every nefarious activity your mind can imagine. The U.S. federal government didn't become the biggest government in the history of the world by accident you know.
The Fed bails out politically-connected and failed corporations (especially the biggest banks). In a free market, if you fail, you go out of business. In The Fed's market, the failures get bailed out.
When the Fed creates new money, someone has to get that money first. It's usually people who are closest to the government. These people can then take this new money and bid up prices in the marketplace. Everyone else gets to watch as prices rise around them.
The Fed creates artificial booms (i.e., stock market in 1920's, Nasdaq bubble, housing bubble, the current bubble). This creates an illusion of prosperity. But that's all that it is, an illusion. When a return to reality takes place, and the bubble bursts, everyone who believed in the illusion gets stung...big time!
The Fed and government despise real money (like gold and silver) with a passion. They cannot whisk gold and silver into existence on a whim. Gold and silver are the antidote to big government welfare and warfare.
The Fed is secretive. It has never been audited, and hides behind the claim that they're "independent."
The Fed is a price fixer of interest rates. Prices are supposed to tell the truth about supply and demand. The moment that a price is fixed, the truth is buried from view. Price fixing of interest rates helps to create the illusion of prosperity during a boom.
The Fed pretends to "run the economy," which, as the Soviets proved, is literally impossible. The Fed only has the ability to run the economy into the ground. That's it.
So the story of the Fed is much bigger than the Trump presidency.
Do you want to learn more?
Buy Ron Paul's End The Fed.