Wednesday, April 20, 2016

What Did Federal Reserve Chair Janet Yellen Tell Obama?
 & Why Aren't The People Telling Government What To Do?
"President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chair Janet Yellen .. Because the meeting was held behind closed doors, the American people have no way of knowing what else the three might have discussed .. Yellen’s secret meeting at the White House followed an emergency secret Federal Reserve Board meeting. The Fed then held another secret meeting to discuss bank reform. These secret meetings come on the heels of the Federal Reserve Bank of Atlanta’s estimate that first quarter GDP growth was .01 percent, dangerously close to the official definition of recession. Thus the real reason for all these secret meetings could be a panic that the Fed’s eight year explosion of money creation has not just failed to revive the economy, but is about to cause another major market meltdown. Establishment politicians and economists find the Fed’s failures puzzling. According to the Keynesian paradigm that still dominates the thinking of most policymakers, the Fed’s money creation should have produced such robust growth that today the Fed would be raising interest rates to prevent the economy from 'overheating.' The Fed’s response to its failures is to find new ways to pump money into the economy. Hence the Fed is actually considering implementing 'negative interest rates.' Negative interest rates are a hidden tax on savings. Negative interest rates may create the short-term illusion of growth, but, by discouraging savings, they will cause tremendous long-term economic damage .. The no-win situation the Fed finds itself in is a sign that we are reaching the inevitable collapse of the fiat currency system. Unless immediate steps are taken to manage the transition, this collapse could usher in an economic catastrophe dwarfing the Great Depression."
- Dr. Ron Paul*
link here to the essay

1 comment:

Anonymous said...

Forbes writer argues $SRPT shouldn’t be given accelerated approval b/c it’s expensive and might not work.

everyone’s disposable even kids….but no cost is too great to build weapons.