The Fed is a Hazard to Your Wealth and The Country

 banks, Fed, Government, Inflation  Tagged with: , , , , , , , ,
Nov 092009
 
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Mises Family Crest

The average citizen has little to no understanding of the Federal Reserve and the role it plays in the economy and their lives. It is a central planning authority that runs the banking system, controls the money supply and arguably is more powerful than even the Federal government. It is secretive, not truly a Federal agency and is run by non-elected officials. It was formed in 1913. One of its primary roles was to maintain the purchasing power of the dollar. Since it formation, the dollar has lost 96% of its purchasing power.

There is now a move in Congress to audit the Fed. The Fed is fighting this action in every way they can. The bill (sponsored by Socialist Bernie Sanders and Libertarian Ron Paul) is unlikely to pass, certainly not in its original form. This video, produced by the Mises Institute, is for the layman. It provides a history of the Fed and an explanation of why it is so dangerous.

[youtube]http://www.youtube.com/watch?v=iYZM58dulPE[/youtube]

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  One Response to “The Fed is a Hazard to Your Wealth and The Country”

  1. Wingnut Ron Paul is in Good Company - Monty Pelerin's World says:
    November 21, 2009 at 10:31 pm

    [...] Ron Paul is looked at by some as a modern day Don Quixote. His current windmill is the Federal Reserve, an institution not very well understood by the American public. For those who don’t understand the Fed, watch this video. [...]