UPDATE June 16, 2022: The Federal Reserve, Chaired by Jerome Powell, has increased the Fed Funds Rate by 75 basis points, or 0.75 percentage points. This is one of the largest increases ever, and it is in direct response to the Fed’s own failure to mitigate potential inflation or even forecast its coming. Only months ago the Fed was still calling the current bout of inflation “transitory.” Now more than ever the evidence of the Fed’s unpredictable, and even detrimental effects on America’s economy are laid bare. End the Fed.
Originally posted July 28, 2020.
You have read here about the Marxist agenda of the Black Lives Matter movement. Black Lives Matter is just the latest in a string of efforts to steadily shift the United States toward socialism.
BLM is succeeding in forcing celebrities, executives, and politicians to cower to its Marxist demands, but some of the most insidious work towards American socialism has already been achieved.
Former Congressman and presidential candidate, Ron Paul, explained in his book End the Fed, the connection between the Federal Reserve, and the push toward socialism/communism in the United States. He wrote:
Ron Paul on Keynes and Inflation:
Economist John Maynard Keynes, before he became the champion of inflation, wrote quite correctly of the grave danger of inflation. Like Greenspan, he changed his tune as the years moved on. Keynes stated in his book The Economic Consequences of the Peace:
Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.
His Tract on Monetary Reform from 1923 is also clear:
A government can live for a long…by print[ing] paper money.
Ron Paul on Marx’s Fifth Plank
Marx’s Fifth Plank of the Communist Manifesto mandates a strong central bank monopoly. This was seen as necessary to maintain power over the entire economy and to protect against the encroachment of capitalism.
The Federal Reserve Act of 1913 established the Federal Reserve system to supervise the now fully elastic and easily debauched currency by the unconstitutional powers given to it.
Ron Paul on Fed Transparency
The courts, under today’s circumstances, will never rule that the Federal Reserve Board chairman must reveal the information that the Congress or the people seek. … For many decades several members of Congress, among them Louis McFadden, Wright Patman, and Henry Gonzales, have demanded the books at the Fed be opened to inspection by the Congress through an audit by the GAO. Though some concession have been made, such as the release of minutes three weeks after a FOMC meeting and reporting of some accounting statistics, the core of the Federal Reserve’s transactions has remained hidden from congressional scrutiny.
Rep. Paul pushed the passage of a bill that would allow Congress to audit the Fed, but it was shot down without a vote by Fed allies in Congressional leadership.
Paul was convinced his bill, which even had the backing of Sen. Bernie Sanders, would pass the House if given a vote.
If the BLM/Antifa crowd get their way, the Fed will debauch the currency to fund their radical agenda. Savers will suffer, the productive will suffer, and America will suffer.
Learn more about BLM and the Marxist agenda to transform America in 2020 and burn the place down from Rudy Giuliani and Ron Paul. And read about how many Americans have been duped by the BLM movement and its terrorist leaders.
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