It was ten years ago that Congressman Ron Paul released his book, End the Fed.
It immediately shot to number six on the New York Times Bestsellers list.
Paul's message was that the Federal Reserve was created to bail out banks. It privatized profits for them and socialized losses for the rest of us.
He said the system works against us by killing competition among banks and hiding taxes through inflation.
He's right. The Federal Reserve can create money out of thin air, and lend it to the government to spend. But increasing the supply of money– when it's not backed by anything– leads to inflation.
That's because there are more dollars chasing the same amount of goods in the economy. So every dollar is worth less.
But the government benefits from the value stolen from each existing dollar… because it makes each dollar of government debt worth less in the future. Therefore inflation is just a hidden tax.
War funding is the main reason the government needs this hidden tax power.
In 2009, nominations for the Nobel Peace Prize closed just 11 days after President Obama took office.
Later that year, The Nobel Committee selected Obama to receive the Nobel Peace Prize.
Somehow, they knew that Obama– the new Commander-in-Chief of a nation embroiled in two wars– was truly a peaceful man.
At the same time, the Federal Reserve went to work on "quantitative easing"– a.k.a printing money. Ostensibly to save the country from a recession, the Fed conjured up trillions of new dollars.
But as you know, the wars continued…then they expanded.
The US gave air support to Libyan rebels in 2011, ousting Ghadaffi. Ghadaffi was no angel, but at least the country was stable under his regime. Today Libya is lawless and serves as a breeding ground for terrorism. Open public slave-markets have returned to Libya after being virtually non-existent during Ghadaffi's four-decade rule.