Authored by Michael Snyder via The American Dream blog,
Donald Trump just made one of the most brilliant moves of his entire presidency. By accusing the Federal Reserve of “going loco”, he is placing the blame for the coming stock market crash and horrifying economic downturn squarely where it belongs, and he is firing up millions of true conservatives among his base at the same time.
For many, many years, a lot of us have been trying to educate the American people about the deeply insidious Federal Reserve system. As Ron Paul once so astutely observed, it is actually about as “federal” as Federal Express is. The Federal Reserve is an unelected cabal of central bankers that is running our economy into the ground, and the only way we are going to fix our long-term economic and financial problems is if we abolish it.
So for those of us that understand these things, it is extremely exciting to hear President Trump use language such as this…
President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence.
“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.
That may be one of the greatest things that Donald Trump has ever said.
And if Trump feels like his base is really responding to this sort of rhetoric, he may start using it as a campaign tactic.
Could you imagine thousands upon thousands of supporters chanting “End the Fed” at Trump rallies leading up to the 2020 election?
That would definitely be a beautiful thing.
Without a doubt, the Federal Reserve has created “the everything bubble”, and when it bursts the economic pain is going to be off the charts.
Of course the left is going to want to blame Trump, and so Trump is being very smart by pointing a finger at the Fed for aggressively raising rates at a time when the U.S. economy is already slowing down.
And you know what? CNBC’s Jim Cramer actually agrees with Trump…
“I agree with President Trump that the Fed needs to tighten less aggressively, even as he probably shouldn’t have said those nasty things in public because he’s making it harder, not easier, for Jerome Powell to give him what he wants,” he said. “When you look at the economy empirically right now, you start to see real problems.”
Following those comments, Cramer offered some examples of the “real problems” that he is seeing throughout our economy…
Sources within the auto industry, in addition to major suppliers PPG Industries and Trinseo, have suggested to the “Mad Money” host that there is a “definitive slowdown” in auto sales.
“Housing is either pausing or down for the count,” he said. “We know this because it’s what Lennar, the largest homebuilder in America, told us. Lennar has its pulse on every market.”
Key economic building blocks — things like packing materials and plastic — are either stagnant or dropping in price, indicating a slowdown in shipping, a leading barometer for the state of the economy, Cramer said.
Needless to say, criticizing the Federal Reserve is a very dangerous thing to do, and there is a reason why previous presidents have never dared to do so.
But that is one of the great things about Trump. He simply refuses to be controlled, and he will not be intimidated by threats.
We desperately need a president that is willing to stand up to the elite and call for the abolition of the Federal Reserve. For a long time it appeared that doing something about the Fed was not on Trump’s radar, but now that may be changing.
So let us hope that Trump’s war with the Federal Reserve escalates significantly, because we want this to be a top national issue during the 2020 presidential election.
The following is a list of 101 reasons why the Federal Reserve should be shut down that is an updated version of an earlier list from one of my previous articles…
- #1 We like to think that we have a government “of the people, by the people, for the people”, but the truth is that an unelected, unaccountable group of central planners has far more power over our economy than anyone else in our society does.
- #2 The Federal Reserve is actually “independent” of the government. In fact, the Federal Reserve has argued vehemently in federal court that it is “not an agency”of the federal government and therefore not subject to the Freedom of Information Act.
- #3 The Federal Reserve openly admits that the 12 regional Federal Reserve banks are organized “much like private corporations“.
- #4 The regional Federal Reserve banks issue shares of stock to the “member banks” that own them.
- #5 100% of the shareholders of the Federal Reserve are private banks. The U.S. government owns zero shares.
- #6 The Federal Reserve is not an agency of the federal government, but it has been given power to regulate our banks and financial institutions. This should not be happening.
- #7 According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress is the one that is supposed to have the authority to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. So why is the Federal Reserve doing it?
- #8 If you look at a “U.S. dollar”, it actually says “Federal Reserve note” at the top. In the financial world, a “note” is an instrument of debt.
- #9 In 1963, President John F. Kennedy issued Executive Order 11110 which authorized the U.S. Treasury to issue “United States notes” which were created by the U.S. government directly and not by the Federal Reserve. He was assassinated shortly thereafter.
- #10 Many of the debt-free United States notes issued under President Kennedy are still in circulation today.
- #11 The Federal Reserve determines what levels some of the most important interest rates in our system are going to be set at. In a free market system, the free market would determine those interest rates.
- #12 The Federal Reserve has become so powerful that it is now known as “the fourth branch of government“.
- #13 The greatest period of economic growth in U.S. history was when there was no central bank.
- #14 The Federal Reserve was designed to be a perpetual debt machine. The bankers that designed it intended to trap the U.S. government in a perpetual debt spiral from which it could never possibly escape. Since the Federal Reserve was established 100 years ago, the U.S. national debt has gotten more than 5000 times larger.
- #15 A permanent federal income tax was established the exact same year that the Federal Reserve was created. This was not a coincidence. In order to pay for all of the government debt that the Federal Reserve would create, a federal income tax was necessary. The whole idea was to transfer wealth from our pockets to the federal government and from the federal government to the bankers.
- #16 The period prior to 1913 (when there was no income tax) was the greatest period of economic growth in U.S. history.
- #17 Today, the U.S. tax code is about 13 miles long.
- #18 From the time that the Federal Reserve was created until now, the U.S. dollar has lost 98 percent of its value.
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Originally Posted by Zippyjuan
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