THE FED IS A FAILED INSTITUTION THAT MUST MERGE INTO THE US TREASURY – OR THE FINANCIAL SYSTEM IS DOOMED:
The congress knows that the FED is creating financial bubbles and financial super profits for its wealthy share holders – the banks. That is right. The FED is a NON GOV ORGANIZATION ( NGO ) owned by the banks and largest bank customers who they must regulate.
Whenever Congress tries to pass a law to hold the FED accountable, to admit the FED, to force the FED to over over sight – the FED goes on and on about INDEPENDENCE.
The INDEPENDENCE OF THE FED “IS” THE PROBLEM.
The Fed was born in the day of the telegraph before we had radio in homes. The notion of an INDEPENDENT NON GOV. AGENCY printing our money for a fee ( interest ) so they and their secret shareholders could make the highest profits ranking has ever known, on the Gov Debt they create – is a horrendous policy mistake in 1900.
Fed – Zero oversight and zero accountability. That is the fact.
Today in a fully transparent market space, where in real time money supply is reported on line – the need for a theory of an NGO contractor to print the nations money – for interest the Fed sets and collects to print our money – when interest on the national debt is our largest tax payer burden – is INSANE in 2020 of beyond.
We can print our money for free.
WE DID THAT FOR hundreds of years till the 1900 80 page Fed Act. The Jobs act of 2016 is 867 pages. The Health Care bill is 2800 pages. The Fed act of the 1900’s is only 80 pages – READ IT. Revoking those 80 pages to merge the FED into US TREASURY can be completed in one week by an EMERGENCY ACT OF CONGRESS. Send this to your congress person. Do it today. Yesterday is already too late voters.
So lets look at details for all nations a bit with central banks copying the INSANE model of the FED – the same FED who has caused all depressions, the bankruptcy of all nationals – and world war after world war – which is caused by financial failed policy of the bankers – that created HITLER ISIS and everywhere – as simple failed economic policy that places impossible starvation and hardship on entire populations while the ELITES in the FED model consolidate even more wealth. The FED has no veto over sight. The FED:
- Can not be audited and never have been audited
- Does not report its fiscal positions to congress or to anyone
- Does not have oversight on policy or accountability to anyone
- Can not have its decision overturned by anyone EVER
- Is accountable to no one but its own secret wealthy bank shareholders who own the FED which is a legal corporation like GM or IBM, and Congress nor The President knows who the shareholders are or how much profit they all share – because hey – the FED by an 80 page law is INDEPENDENT. A crime truly. Zero oversight.
Alan Greenspan said post crash that:
“our decisions ( at the FED ) are in volatile and no one can overturn a final Fed decision not the President not Congress not anyone”……
Well THAT should be changed right now – by merging the Fed into the USA TREASURY. My book Redemption defines this model in detail. The summary is:
- The Fed merges into the USA Treasury by an act of Congress
- The system of the FED continues under US TREASURY OVERSIGHT AND MANAGEMENT
- All fully reportable to Congress and the American People
- We print future money for free no cost of interest as we did for 100s of years – paying the FED NGO is insane today.
- We issued 100 and 200 year SUPER BONDS and pay the Fed off over sixty months and the national debt is now retired with a one time bond pay out against future economic growth where a dollar is paid off with a penny in 200 years. Best bond ever issued.
There is no THEORY of WHY for the Fed in 2020. The FED is only defended as a WHY the notion NO ONE SHOULD HOLD THE FED ACCOUNTABLE IN ANY WAY FOR THAT WOULD IMPACT THEIR INDEPENDENCE. American’s need to consider the noise and spin of the Fed. The Fed created the crises in 2008. The Fed created the failure to fix the crisis we are in now. The Fed profits from LEGAL THEFT of the American people and tax payer. The FED can not stand actual illumination on their methods and practices. The FED is not accountable to anyone but the banks they are supposed to regulate and that system is a failed economic model. Until Congress merges the FED back into the USA TREASURY the economy of the world is hostage to GREED on a level the world has never historically known before. Let me report some of the problems the FED allows to languish as their members and shareholders make ungodly profits in the worst economic recovery in 100 years.
DEBT – THE FED PROFIT ENGINE:
- The USA national debt has risen by 11 trillion dollars to a 2017 total of 20 trillion dollars.
- Congress must raise the ANNUAL debt ceiling for America to continue to fund what congress already approved for spending as America like most of the G 100 is spending MORE than America earns – which can not continue long before a collapse. Duh – of course on this item.
- The total consumer debt for sub prime borrowers in real estate is passing 2008 levels – for the first time since 2008 as the FED lets its shareholders PROFIT from crap loans – as we again pass 8.2 TRILLION dollars of Sub Prime Real Estate Loans – setting new records in the CRAP loan industry. This Fed policy is a 32% INCREASE in these crap loans over one year ago. But wait for it…..that increase is on the enormous larger number so the % is larger than it seems as the number grows so is the % growing which means CRAP LOANS are SOARING in the Bank System just like 2007. The Fed has fixed nothing and no one but no one has a veto power over the FED decisions. Just try it !
- Total Student Loan Debt has soared to 1.34 TRILLION DOLLARS.
- House Hold Debt is now passing 12.73 TRILLION DOLLARS.
Household debt now is 50 billion higher than it was at its prior peak in 2008 before the Super Crash and Great Recession of 2008. All categories of Debt now exceed 2008. Have we learned nothing. The profit machine for the banks is protected by the FED against the people. The FEW Super Wealthy against the mass of the many of all of us. Class warfare by law and policy – or LEGAL THEFT. The public is financially illiterate unless they read my blog and most prefer to march to the SUPER CRASH and world depression and world war that is coming – watching the WALKING DEAD. Those who remain financially illiterate ARE THE WALKNG DEAD AND GET JUST WHAT THEY DESERVE.
If you CARE about the unborn generations in any nation – write your law maker to MERGE your CENTRAL BANK – in America – the NGO FED – into the US TREASURY. If the Fed was not granted by an 80 page law in the 1900’s – to use the name Federal – and was forced to use the more appropriate name TONY SAPRANO’S BANK everyone would vote to merge the criminal crooks bank into the US Treasury. But really the FED is just a private bank owned by its shareholders making a profit with a contract to the government that was obsolete when the phone, fax and related transparency technologies came into the system. Since that time the FED is obsolete – a failed policy making body – never held accountable for the error pain and legal theft they create – and always doing a blame dance to protect their own powers. Congress can easily pass one law to revoke the 80 Page FED ACT and merge the FED and its systems and methods into the USA TREASURY with no further fee’s to the FED – creating a balanced USA budget in less than 60 months where the USA is in the black not the red. If only voter’s write their congress person and tell them the FED IS DEAD and the time of legal theft has come to an end.
Of the 1.3 Trillion in Education Loans about 11% or over 130 billion dollars in over 90 days late – is not paid and is loans carried as good assets on books but which are really bad assets needing to be written off. Creating bankruptcy along the way for who?
House Hold net work is 92.8 trillion dollars largely due to the Trump Rally win asset classes based on hope and promise for new policies which are not being set up by Congress. The 2008 household wealth was 56.2 trillion before the Crash. That Wealth can be wiped out in a month in a SUPER CRASH and when liquidity disappears.
Auto Loan debt is far higher than 2008. The largest delinquencies in AUTO LOANS in four years are taking place. Still the FED suggests we have nothing to worry about as their DEBT GREED MACHINE PUMPS OUT EVER MORE DEBT TO EVERY LESS CREDIT WORTHY BORROWERS – NONE OF IT STIMULATING ECONOMIC GROWTH AT A FLOOR OF 1% THIS YEAR or NEAR RECESSION LEVELS.
donghoon Lee an idiot research office of the FED I’m writing to you about puts out public SPIN for the Criminal FED – that states – the super explosive rise in debt is “neither a cause to celebrate nor a cause for alarm”. U.S. Economist ( I think is FED bought and paid for ) Michael Pearce suggests ( another idiot ) THAT – there is NO EVIDENCE that we are nearing any tipping point of default velocity rising – although if the economy went south all bets are off.
If the SUPER CRASH COMING wipes out wealth and the debt is no longer supportable – where already auto loans are in a four year RECORD DEFAULT on the loans – one can see with student loan defaults soaring that – defaults are not factored in as a risk to the soaring debt that makes FED BANK ELITES unlimited new wealth. On their books.
Folks the system is broken. The economics are broken. Until you fix your system there is only repeat pattern – which is:
- Consolidation of wealth until 1% of the population control 99% of all wealth – the few against the many class warfare. Historic to the ages of failed economic modeling.
- Super Crash and legal theft of assets that follows.
- Trade Wars that go on for years
- Super Crash and Global Depression to rebalance economic wealth that was unsustainable inside the legal theft model.
- WORLD WAR to ultimate rebalance national accounts where the winners restart wealth consolidation and the cycle repeats itself.
Which is all insane – but we are in TRADE WAR now – every nation for itself – and the only winner temporality is the CENTRAL BANK the FED and their shareholders. Is that franchise model from nations to their central banks criminal?
You bet !
A crime against the people who remain too financial ignorant to understand just how their pockets are being picked completely dry.
WAKE UP citizens of the world and learn to read your own economic alphabet. March rally and move to have the FED’s of the world merged back into their treasures in a digital transparent market so that monetary policy is held accountable to RULE OF LAW versus the GREED of the Few AGAINST the many – us.
Berny Dohrmann – FINANCIAL ENGLISH TEACHER FOR HIRE— June 5, 2017