MCViewPoint

Opinion from a Libertarian ViewPoint

The Last Fed Chairman?

Posted by M. C. Fox on January 30, 2018

Let’s hope so.  Why do the biggest money creator and the biggest spender (pentagram) are never pressured for audits? Because the only ones not making out are you and me.

http://ronpaulinstitute.org/archives/featured-articles/2018/january/29/the-last-fed-chairman/

The economy may seem to have recovered, but the recovery is not built on a firm foundation. Instead it rests on Fed-created bubbles in areas such as automobile sales, credit cards debt, student loan debt, stocks, and even a new housing bubble.

The most dangerous bubble is the government debt bubble. The Fed facilitates deficit spending by monetizing the federal debt…

One of the issues Powell will face is increasing challenges to the dollar’s world reserve currency status. China is pressuring Saudi Arabia to price oil in Chinese yuan instead of in American dollars. China and other countries may take other steps, such as halting purchases of Treasury bonds, that could weaken the dollar. The threats to the dollar’s world reserve currency status will increase as concerns about US government and private sector debt, as well as resentment over US militarism and protectionism, grow…

A new challenge to the dollar’s status is emerging from the private sector as more individuals seek alternatives to government-created fiat currency. The dramatic increase in the value of bitcoins may very well be another Fed-created bubble, but it is one fueled in part by desire to be free of the Fed’s ever-depreciating paper dollars.

Another sign of the people’s rejection of the Fed is the passage of state laws recognizing gold and silver as legal tender. Arizona passed such a law last year and Wyoming will soon consider a similar bill. As the failure of our current system becomes more apparent, more states will give their citizens freedom from the Fed’s money monopoly…

Powell could be the last Fed chairman if the next Fed-created economic crisis leads the people to force Congress to audit and then end the Fed.

Be seeing you

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I am not a number. I am a free man!-Number 6

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