The Federal Reserve is under political fire from the left and right because of its secret policies concerning the distribution of “loans” totaling over two trillion dollars. (See the numerous articles posted here at America’s Right on March 4th and 5th.) This attack is not just about secrecy, but is also about the underlying government philosophy currently overtaking the world.
Previously, I wrote an article about how many in the legal and finance community feel America is moving toward a European lifestyle and government. In this case, if one wishes to find a model to describe The Federal Reserve, it would be China. Now, at the end of the twentieth century during President Clinton’s reign as Nero, I had business acquaintances who had lucrative clients in China. They told me that the Chinese government ran the biggest loan-sharking operation in the world. Instead of bullets, the new Communists kept citizens in their power by loaning the nation’s money, then using the police as a collection agency.
You see, this is about control.
Bernanke is actually giving loans at ZERO PERCENT! Why? Because he wants everyone to owe him. This is how you keep control. If every bank owes him, he runs everything. If the Federal Reserve and the Treasury own and/or run the banking and insurance institutions, every American will be under their control. Why do you think the government has forced banking institutions like Northern Trust and more to take bailout money? It’s how criminal organizations work — they force businesses to accept them as “partners.”
Ron Paul has correctly pointed out in columns here at America’s Right and in numerous radio interviews that America needs to abandon European style, debt-based, fractional reserve banking. For those who are interested, this has to do with the questionable creation of the Federal Reserve in 1913 and the constitutionality of its existence, which Ron Paul has also discussed in detail over the years. Because Bernanke and his leftenant, Treasury Secretary Tim Geithner, are feeding billions to the crashing financial institutions, the healthy ones could well be starving. To fail, in this scenario, is to succeed gloriously. The more they fail, the more free money they receive. Even if they never succeed, they will get rich in the process.
There are many people, including some of the reader’s of America’s Right, who are afraid to abolish the Federal Reserve because they think Congress will be even worse at controlling the money supply. This is a singularly understandable fear, but the fear that truly needs to be overcome in the short term is nationalization of the banks. If the banks are not temporarily nationalized, nothing will change. The trillions that have been spent are being used to give life support to a corpse. The banks should be closed, gutted, arrests should be made, and the whole thing begun anew. I fear nationalization only because it may not be temporary, but the fact that Obama denies the need for it shows that justice is not on the horizon.
But you see, it is Fed Chair and his gang that has made us afraid. If we get rid of him, who will protect us? Who will save us from more despair and gloom? Every time I see Bernanke testify, I feel as if I am watching the opening scene from The Godfather. Every time he is asked a tough question, you expect him to ask: “What have I done to deserve such disrespect?”
I met with a neighbor tonight who told me that her father lost his job last week, that her aunt is a month away from losing her house, and that she has sent out dozens of resumes without receiving one reply. She asked me if I thought things could get worse. They do not have to.
Answer the questions, Mr. Bernanke, or get out of town.
Ronald Glenn has worked in real estate and law for more than twenty years. He now works in Philadelphia, and lives outside the city with his wife. Ron has been writing for America’s Right since January 2009.