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The Federal Reserve System Actions Affect Our Lives Because Money Equals Freedom and the Federal Reserve is Taking Away Both.

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The general public needs to be made aware of the Federal Reserve System actions.

Since December of 1913, the United States of America has had a privatized banking body controlling its money and the valuation of it, through inflation and deflation.

The general concept of a “central bank” marked a big turning point for the nation as a whole.

When most people, including news media and even elected government officials, talk about the Federal Reserve Bank of the United States, they refer to it as a governmental agency.

In fact, the Federal Reserve is a private institution that was created by an act of Congress.

This is not the same as being a branch of the government and the Federal Reserve acts autonomously, without direction from Congress or any branch of government.

In the Fed’s own words:

“The Federal Reserve System is considered to be an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive branch of government.”

– Overview of the Federal Reserve System from the Federal Reserve’s website http://www.federalreserve.gov/pf/pdf/pf_1.pdf 

Therefore, while politicians can grandstand, hold hearings, request that the chairman or other members of the Federal Reserve’s board give testimony, etc., neither Congress nor the president have any say over how the Fed executes monetary policy within this country.

This makes the Federal Reserve a private institution that is not accountable or controlled by the government of the United States of America.

Yet most (if not all) Federal Reserve System actions have direct consequences for everyday Americans through the Fed’s control over lending, money supply, and indirect manipulation of the investment markets.

The greatest influence is the power of inflation.

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How the Fed Destroys America

The Federal Reserve’s own mission statement says,

“The function of the Federal Reserve System is to foster the flow of credit and money that will facilitate orderly economic growth, a stable dollar, and long-run balance in our international payments.”

Yet for most of its history, the Fed has accomplished exactly the opposite.

As of 1994, the dollar has been devalued from 99% of its purchasing power since 1913. (Separating Money and the State, Part 1: Eighty Years of Destruction.

Supposed accountability for the Federal Reserve’s actions comes primarily through Congressional oversight hearings, held twice a year by both the House and the Senate.

These hearings began by an act of Congress in 1978 and are described in an academic paper by Bailey & Schonhardt-Bailey:

“On the negative side, there has been an emphasis on the powers of obfuscation of Fed officials (set within the context of the absence of a clear policy target against which Congress can judge the Fed, and the inevitable complexity caused by the degree of uncertainty that naturally surrounds monetary policy making decisions that need to be taken on a forward-looking basis).”

– Is the Fed Held Accountable? An Empirical Investigation of Congressional Oversight of Monetary Policy, 2006, http://www.allacademic.com//meta/p_mla_apa_research_citation/1/5/1/2/9/pages151292/p151292-7.php

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The Fed Affects Americans

For the average American, the entire concept of the Federal Reserve system boils down to two things:

(1) An unstable dollar, known as inflation, and (2) a monetary system controlled entirely by members of a board which oversees all financial issues for the country, including money supply and distribution, interest rates for loans, and so forth.

The Federal Reserve’s roles are all performed without oversight from the elected representatives of the people, without accountability through audit by any federal agency, and without any incentive to serve the public good.

In fact, the Fed members profit from the actions of the Fed.

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Federal Reserve System Actions

The direct consequences of Federal Reserve System actions are nearly always detrimental to the needs and wants of the American people and the actions of the Fed since its inception in 1913 have lead only to two things: inflation and more power for the owners of the Fed.

Inflation on such a scale that the United States dollar is worth less in purchasing power than the paper it’s been printed on and our entire money system is based not on a national product, gold, or any other measurable means, but instead is based on empty credit.

Power, in the sense that the Fed owners are part of the global banking elite who one day hope to control all the money in the world.

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