The Federal Reserve is no more a federal agency than Federal Express, though the government has granted them a (dot)gov domain to keep alive the perception that they act in the interests of the people of the United States.
What many people may not understand is that The Federal Reserve is like any other corporation. They are in the business of making money, and in the case of the Fed, they are actually the people that make the money.
Former Chairman of The Federal Reserve Alan Greenspan makes it abundantly clear that the Federal Reserve really doesn’t have to do anything the government asks them to do. As an independent agency, and one perceived by the populace to be another arm of the government, they are, for all intents and purposes, above the law:
(Video follows excerpts and commentary)
The Federal Reserve is an independent agency, and that means basically, that there is no other agency of government that which can overrule actions that we take.
So long as that is in place and there is no evidence the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don’t, frankly, matter.
So, basically the Federal Reserve has unrestricted power and control over our currency and monetary policy.
We the people have absolutely no say in what they do, nor are Fed officials held to account for any of their actions, because they simply do not fall under any sort of government oversight.
When the people of a nation hand power over their currency to a secretive banking organization owned and operated by the largest financial institutions in the Western world, it is a recipe for disaster.
Our founders warned us that this day may come. Unfortunately no one heeded those warnings, and now the predictions of former President Thomas Jefferson may very well come to pass:
‘If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation the banks and corporations that grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.’
We’ve talked about an inflationary destruction of wealth and commerce in the United States before. One doesn’t need to be a modern day economist or Harvard grad to understand the ramifications of the monetary policies engaged in by the Fed.
Thomas Jefferson saw this one coming 200 years ago.
Watch Alan Greenspan discuss The Federal Reserve’s unrestricted power to do whatever they like:
Hat tip The Daily Bail