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As He Clips Our Coins, Bernanke Steals A Page From Nero's Playbook
Forbes ^ | 9/25/2013 | Keith McCullough

Posted on 10/01/2013 9:38:18 AM PDT by george76

In 64 A.D., in a naïve attempt to deceive the populace, Nero decreased the silver content in the coins and made silver and gold coins slightly smaller ... central planners have been clipping coins and devaluing the The People’s hard-earned currency for at least two thousand years. The Roman Emperor Nero of course devalued the Roman currency for the first time in the Empire’s history. What was it that gave both the Roman and Ottoman Empires the audacity to plunder the purchasing power of their people?

After 200 years of operating as an independent bank, what made the British Empire so soft that it felt the need to socialize (nationalize) the Bank of England in 1946? What was the US “Free-Market” Empire and why have we empowered the Fed to change it?

If you disregard the vacuum of history in which Ben Bernanke thinks (the 1930s) and contextualize the moment his Fed currently occupies (within the construct of long-term history, which will ultimately judge Bernanke when he’s long gone), it’s getting scary again. But you probably already knew that. The sad thing is that some of his Fed heads do too.

On Monday, Dallas Fed Head Richard Fisher basically admitted two key things:

1.) The current White House Administration has politicized the US Federal Reserve.

2.) By not doing what they led the market to believe they would do (taper), the Fed is losing credibility

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Crime/Corruption; Extended News; Foreign Affairs; Germany; Government; News/Current Events; United Kingdom
KEYWORDS: bernanke; coins; federalreserve; gold; moneyprinting; silver
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1 posted on 10/01/2013 9:38:18 AM PDT by george76
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To: george76
The choice is between individual freedom and slavery to government--a tyrannical form of slavery.

The formula structured by the Constitution of the United States and laid out in its philosophical foundations--as asserted in the 1776 Declaration of Independence from an overly-powerful government administered by King George III--were explained by America's Founders.

Their writings and speeches, as well as the wisdom writings from previous defenders of liberty, are available online.

THE FEDERALIST, that collection of 85 essays explaining the Constitution's provisions and protections, now can be read in every home and school as a means of enlightening a public which has become too willing to yield their Creator-endowed liberty to a collection of would-be tyrants who call themselves "progressives," but are, in fact taking American citizens back to the bondage from which their ancestors fled in other parts of the world.

Several years ago, a business man by the name of James R. Evans, in his book, "America's Choice: Twilight's Last Gleaming or Dawn's Early Light," suggested 7 simple principles which every citizen could benefit from considering as they watch the so-called "progressives" attempt to enslave them through legislation and Executive Orders.

"1. Does this legislation or idea increase, or decrease, individual freedom and creativity?

"2. Does this legislation or idea increase, or decrease, the power of some citizens over other citizens?

"3. Does this legislation or idea recognize that the persons who will exercise the power are themselves imperfect human beings?

"4. Does this legislation or idea recognize that government is incapable of creating wealth?

"5. Does this legislation or idea authorize taking from some what belongs to them, and giving it to others to whom it does not belong?
If 'thou shalt not steal' is a valid commandment, can we assume that it is meant to apply only to individuals and not to government (which is made up of individuals), even if those persons in power pass laws which sanction such redistribution of the wealth of others?'

"6. Does this legislation or idea encourage, or discourage, the very highest level of morality and responsibility from the individual?
. . .when government makes actions 'legal' by some citizens at the expense of other citizens, the result may be behavior which would not be considered possible by individuals acting alone.

"7. Does this legislation or idea propose that the 'government' do something which the individual cannot do without committing a crime?"**

**7 principles drawn from James R. Evans book, "America's Choice," and reprinted in a Stedman Corporation (Asheboro, NC) booklet entitled "I'm Only One, What Can I Do?"

The simplicity of these questions and of the core message of the following words by some of America's Founders might jar some citizens into a recognition of what "progressives" and this Administration are doing to the future of liberty for their posterity:

"...nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers, and destroyers press upon them so fast, that there is no resisting afterwards. The nature of the encroachment upon the American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour. The revenue creates pensioners, and the pensioners urge for more revenue. The people grow less steady, spirited, and virtuous, the seekers more numerous and more corrupt, and every day increases the circles of their dependents and expectants, until virtue, integrity, public spirit, simplicity, and frugality, become the objects of ridicule and scorn, and vanity, luxury, foppery, selfishness, meanness, and downright venality swallow up the whole society." - John Adams

"This was a favorable moment to shut and bar the door against paper money." [This statement referred to a proposed provision in Article I, Section 8, that would have read 'and emit bills of credit (paper money) of the United States,' which the Founders rejected by an overwhelming vote.] - James Madison- Notes of the Federal Convention 1787

"...there have always been those who wish to enlarge the powers of the General Government. There is but one safe rule...confine (it) within the sphere of its appropriate duties. It has no power to raise a revenue or impose taxes except for the purposes enumerated in the Constitution....Every attempt to exercise power beyond these limits should be promptly and firmly opposed." - Andrew Jackson's Valedictory

"...experience hath shewn, that even under the best forms (of government), those entrusted with power have, in time, and by slow operations, perverted it into tyranny; and it is believed that the most effectual means of preventing this would be, to illuminate...the minds of the people...to give them knowledge of those facts, which history exhibiteth. History, by apprizing them of the past, will enable them to judge of the future...it will qualify them as judges of the actions and designs of men; it will enable them to know ambition under every disguise it may assume; and knowing it, to defeat its views...." - Jefferson's Bill for the more general diffusion of knowledge for Virginia

"Although all men are born free, slavery has been the general lot of the human race. Ignorant--they have been cheated; asleep--they have been surprised; divided--the yoke has been forced upon them. But what is the lesson?...the people ought to be enlightened, to be awakened, to be united, that after establishing a government they should watch over it....It is universally admitted that a well-instructed people alone can be permanently free." - James Madison

"These principles form the bright constellation which has gone before us and guided our steps through an age of revolution and reformation. The wisdom of our sages and the blood of our heroes have been devoted to their attainment. They should be the creed of our political faith, the text of civic instruction, the touchstone by which to try the services of those we trust; and should we wander from them in moments of error or of alarm, let us hasten to retrace our steps and to regain the road which alone leads to peace, liberty, and safety." - Thomas Jefferson-First Inaugural Statement of Principles of Good Government


2 posted on 10/01/2013 9:51:03 AM PDT by loveliberty2
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To: george76

The Federal reserve is not a part of the government as it is often protrayed, but a privately owned corporation. Further as it not a part of government the Nero comparision is not particularly apt.


3 posted on 10/01/2013 9:58:40 AM PDT by Durus (You can avoid reality, but you cannot avoid the consequences of avoiding reality. Ayn Rand)
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To: Durus
The Federal reserve is not a part of the government as it is often protrayed, but a privately owned corporation.

They made $91 billion last year and gave $89 billion to the US Treasury. Private? LOL!

4 posted on 10/01/2013 10:03:36 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: george76

Bookmark


5 posted on 10/01/2013 10:04:49 AM PDT by DocRock (All they that TAKE the sword shall perish with the sword. Matthew 26:52 Gun grabbers beware.)
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To: Toddsterpatriot

Oh, FRiend— they didn’t give anything to our Treasury. We are a client state for the private bankers. And they are of course linked internationally in sovereign debt holdings and the “trading” of the same debt instruments.

This is why the “musical chairs” of the EU crises, etc. waiting to see what country (Greece, Cyprus, Ireland, Spain...in the list of instances) get’s left without a chair when the “music” of debt service and electronic subsidy stops.
All smoke and mirrors.


6 posted on 10/01/2013 10:10:37 AM PDT by John S Mosby (Sic Semper Tyrannis)
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To: Durus

Gimme a break! The Fed may be “privately” owned... but it is definitely part of the government (Hmmm??? maybe the government’s also privately owned? But I digress)! And who appoints the Fed chief? Who’s bidding is Bernanke doing???)... government or not, the Fed does monetary policy, and their policies are robbing us everyday by devaluing the dollar and with it our labor... Nero is an amateur compared to Bernanke. Nero actually had to measure the silver and gold to devalue the coins, Bernanke creates billion$ with a few keystrokes... and gives to the “dreaded” 1%, who Obama hates! Such is QE.


7 posted on 10/01/2013 10:13:46 AM PDT by FiddlePig
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To: John S Mosby
Oh, FRiend— they didn’t give anything to our Treasury.

Sure they did. $89 billion.

8 posted on 10/01/2013 10:31:50 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: FiddlePig
Bernanke creates billion$ with a few keystrokes... and gives to the “dreaded” 1%, who Obama hates!

Gives? He buys bonds.

9 posted on 10/01/2013 10:33:34 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: loveliberty2

The treacherous tyrant in the White House, that tall articulate, flap eared Boy must be deposed


10 posted on 10/01/2013 10:42:13 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: Toddsterpatriot

Where did that $89 billion come from?


11 posted on 10/01/2013 10:47:05 AM PDT by Orangedog (An optimist is someone who tells you to 'cheer up' when things are going his way)
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To: Orangedog

Mostly interest on MBS and Treasuries.


12 posted on 10/01/2013 10:48:28 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot

And where did the treasury get the money to pay that interest?


13 posted on 10/01/2013 10:50:43 AM PDT by Orangedog (An optimist is someone who tells you to 'cheer up' when things are going his way)
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To: Toddsterpatriot
The Federal Reserve consists of 12 regional Federal Reserve banks, with boards of Directors, under an umbrella direction of the 7 member Federal Reserve Board (14 year terms appointed by the president with the consent of congress)in Washington, with the power to determine major aspects of banking activity, such as setting interest rates, and the reserve and other operational requirements. There are no shares of the Washington Fed Board organization; the only “ownership” of the Fed is in shares of each of the 12 regional banks which are entirely owned by the private member banks within their respective districts, according to a formula based on their size (they must subscribe to the shares with 3% of their capital plus surplus).

The Federal Reserve System claims to be a non-profit organization that turns over its operating profits to the U.S. Treasury, after all expenses, including the 6% dividend to member banks. This is where you get your numbers from, however it fails to account for the majority of true earnings. Profits coming through the privileged money creation process mainly occurs at the member bank level of operation, and those profits are not turned over to the Treasury. That is, the net earnings from the member banks seigniorage privilege are not turned over to our government but kept by the private member banks. Educated estimates put this between $100-200 billion per year. Further the operating expenses deducted from their official turnover appears to be wildly exorbitant.

If you were to argue that they aren't a corporation I would be forced to concede your point. As a corporation is a legal term of art and they don't actually meet the criteria it was a simplified way to refer to the organization which appears to be in a "special" category. However if you still claim that they are not a private organization answer these questions for me.

What branch of government is the Federal Reserve organized under, Executive, legislative or Judicial? (it isn't)

Does the Federal budget office determine the budget of the Federal Reserve? (no it determines it's own budget with no oversight)

How often does the Government Accountability Office audit the Federal reserve? (it doesn't)

Other than the Chairman, Board, who hires the employees of the Federal Reserve? (The Federal Reserve)

Why are Federal Reserve Employees not part of the US Civil Service System and are not covered by government employees’ health insurance or pension programs? (because they aren't government employees)

14 posted on 10/01/2013 11:09:58 AM PDT by Durus (You can avoid reality, but you cannot avoid the consequences of avoiding reality. Ayn Rand)
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To: Orangedog

China.


15 posted on 10/01/2013 11:22:20 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Durus
Profits coming through the privileged money creation process mainly occurs at the member bank level of operation, and those profits are not turned over to the Treasury.

Link?

Educated estimates put this between $100-200 billion per year.

Who made up this "educated estimate"?

What branch of government is the Federal Reserve organized under, Executive, legislative or Judicial? (it isn't)

It was created by Act of Congress. Signed into law by the President. What private company can say the same?

Does the Federal budget office determine the budget of the Federal Reserve?

By law, they're self funded.

16 posted on 10/01/2013 11:29:50 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot

A swing and a miss.


17 posted on 10/01/2013 11:31:12 AM PDT by Orangedog (An optimist is someone who tells you to 'cheer up' when things are going his way)
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To: Orangedog

When you figure out how the Treasury pays interest, be sure to get back to me.


18 posted on 10/01/2013 11:33:46 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot
What do you want me to link? Something on seigniorage privilege?

Who made up this "educated estimate"?
Many different groups come up with roughly this amount. Use your search engine of choice and look it up.

It was created by Act of Congress. Signed into law by the President. What private company can say the same?
Non sequitur. It doesn't matter if they only created one or many. The fact is they created this one.

By law, they're self funded.
How a budget is funded is not the same thing as determining a budget.

I suspect the reason you are resistant to the simply truth is that it seems so completely irrational. I was the same way, I simply couldn't believe the government would create such boondoggle that in no small part has lead to so many further usupations of power. Do a little research on your own, don't take my word for anything.

19 posted on 10/01/2013 11:46:29 AM PDT by Durus (You can avoid reality, but you cannot avoid the consequences of avoiding reality. Ayn Rand)
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To: Toddsterpatriot

When you get enough nickels to rub together to buy a clue, drop me a line. I swear the quality of Fed hacks on this site has declined greatly in recent years.


20 posted on 10/01/2013 11:48:01 AM PDT by Orangedog (An optimist is someone who tells you to 'cheer up' when things are going his way)
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