Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Concentrate on Dividend Record and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Freedom Force
  • Dick Young’s Safe America
  • Bank for International Settlements

Ron Paul: Secret Fed Bond Buying Program Ripe for Crooked Deals

June 23, 2020 By Richard C. Young

FOMC Chairman Powell answers a reporter’s question at the October 30, 2019 press conference.

At LewRockwell.com, former Congressman Ron Paul explains the secret new Federal Reserve bond-buying program, and how it could be abused. He writes (abridged):

In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds.

Under the law creating the lending facilities, the Fed does not have to reveal the purchases made by the new facilities.

The Fed could, and likely will, use this bond buying program to advance political goals. The Fed could fulfill Chairman Jerome Powell’s stated desire to do something about climate change by supporting “green energy” companies. The Fed could also use its power to reward businesses that, for example, support politically correct causes, refuse to sell guns, require their employees and customers to wear masks, or promote unquestioning obedience to the warfare state.

Another of the new lending facilities is charged with purchasing the bonds of cash-strapped state and local governments. This could allow the Fed to influence the policies of these governments.

With lending facilities providing to the Federal Reserve the ability to give money directly to businesses and governments, the Fed is now just one step away from implementing Ben Bernanke’s infamous suggestion that, if all else fails, the Fed can drop money from a helicopter.

These interventions will not save the economy. Instead, they will make the inevitable crash more painful. The next crash can bring about the end of the fiat monetary system. The question is not if the current monetary system ends, but when. The only way Congress can avoid the Fed causing another great depression is to begin transitioning to a free-market monetary system by auditing, then ending, the Fed.

By Ron Paul, Ron Paul Institute, June 23, 2020

Related Posts

  • Ron Paul - End the Fed
  • Ron Paul: The Fed is Worried
  • Ron Paul: End the Fed
  • Ron Paul's Amazing Run
  • Author
  • Recent Posts
Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
Latest posts by Richard C. Young (see all)
  • Richard C. Young: How About Joining Us in Key West - March 3, 2021
  • Here’s What the Media Won’t Tell You About Bill Gates - March 3, 2021
  • COVID-Transporting Cruise Ship Sea Monsters Could Terrorize Key West Citizens - March 2, 2021

Dick Young’s Must Reads

  • The Simple, Elegant Power of the Retirement Compounders
  • What Do You Know About Rho-Kinase?
  • Johnson’s Landslide Tory Victory Crushes Corbyn the Communist
  • America’s Silent Army with 423M Guns
  • TAC, Embracing Old and Conservative Principles
  • The Worst President in American History, Part I
  • Vermont Abandoned, Dairy Farm Economy Devastated
  • <i>Warning!</i> Your Survival Guy’s on a Boil Water Advisory
  • Victor Davis Hanson: How to Bust DC’s Stronghold
  • We’ll Burn the Place Down!

Our Most Popular Posts

  • Do You Know About the Great Money Explosion?
  • What’s Responsible for the Global Decline in COVID Deaths?
  • Has Bill Gates Been Injected Yet?
  • Gov. Newsom Discovering the Power of the Pen
  • “God Bless America”
  • Is This Proof the COVID-19 Case Numbers are Fake?
  • Teaching A Family Investment: Warren Buffett’s Annual Letter and You
  • The Assault on “Our Democracy”
  • The Great Reset Will Take Everything From You
  • Planned Energy and Food Shortages To Create Panic Among the Public

Disclosure

RSS Youngresearch.com

  • Richard Young Reports: The Great Money Explosion and Disasters
  • Fidelity’s 26 Million Retail Accounts in 2020, Up 17%
  • You’re Rich When You Invest Like Croesus
  • Joel Kotkin: Economic Civil War
  • Depositors in Europe Now Being Charged by Banks
  • Teaching A Family Investment: Warren Buffett’s Annual Letter and You
  • This Is When Things Get Interesting in Currency and Bond Markets
  • JNJ’s “One Shot, Shot”
  • Welcome to the Interest Rate Prediction Business, JACK!
  • Democrats Have a Plan: Don’t Get Too Attached to Your Capital Gains

Richard C. Young: How About Joining Us in Key West

The Preposterous Fabrication from the Biden Administration

Richard Young Reports: The Great Money Explosion and Disasters

Oh, the Thinks You Can Think

Here’s What the Media Won’t Tell You About Bill Gates

One of My Favorite Talks from CPAC 2021

Copyright © 2021 | Terms & Conditions | About Us | Dick Young | Archives