If we want to stop the income gap from growing, we need to stop the Federal Reserve.
A massive “Amen!” to this essay, published at Mises Canada!
During the years of the Roman Republic, Cato the Elder ended every speech with the phrase “Delanda est Carthago” (Carthage must be destroyed). Rome had fought two wars with Carthage, yet the threat to the Republic remained. Cato saw Carthage as an existential threat and concluded that Rome would not be secure as long as Carthage existed. So fervently did he hold this view that he ended every speech, even about completely different subjects, with the famous phrase. I believe that we Austrians need to adopt a similar phrase to remind the American people that the US faces an existential threat from the machinations of the Federal Reserve Bank. “Delanda est in Susidium Foederatum Bank”…The Federal Reserve Bank must be destroyed. Like Carthage, the Federal Reserve Bank cannot be controlled or restrained. Either it or our republic will survive, but not both. For the sake of our nation, the Fed must be destroyed.
Congress has been bought-and-paid-for with the counterfeit money produced by the Federal Reserve system. Kill the Fed and you starve the ultimate beast that gives birth to illegitimate and excessive “income inequality.” Allow the Fed to continue feeding counterfeit notes to their friends and accomplices, and I guarantee you they’ll continue to be the best in the world at using the fraud for their own power and enrichment.
It matters not who is in charge of the Fed or what rules Congress may insist that it adopts. Once money printing, via fiat or fractional reserve credit creation, is seen to be both feasible, justified, and legal, nothing and no one can stop it. The political pressure to fund government programs will be irresistible. Everyone knows that the Fed seemingly has the ability to solve their problem by monetizing the federal debt. Should it refuse to do so, we would see riots in the streets similar to what is happening in Europe as protesters target the European Central Bank.
Just after reading the above essay, I saw a fitting addendum to this subject at ZeroHedge.com: “An Open Letter to Janet Yellen.” The Fed exists to protect the most rapacious and irresponsible financial criminals on the planet. Citi, Bank of America, and several others should be shut down, and many of their executives fined to zero net-worth, and jailed. The fraud must end!
And while you’re researching this issue, you might also consider another post at Zero Hedge: “After The Fed Crushed The Middle Class, It Is Targeting The American Family.”
..the government is smart enough to realize that it is more lucrative to “cooperate” with the world’s biggest criminal syndicates than to wipe them out and cut off a major source of funding [and] when one is a criminal syndicate, the largest in world history, paying litigation kickbacks in the hundreds of billions to the government is just the cost of “doing business.”
The Federal Reserve must be destroyed!