The Fed is deliberately stealing from savers

Market Watch ^ | 22 October 2014 | Chris Martenson

[MeneMeneTekelUpharsin]

Recently Janet Yellen expressed both concern and puzzlement over the rising wealth inequality in America. I found her speech to be disingenuous and disturbing. Why? Because it is the Fed’s very own policies that are driving the expansion of the wealth gap. Read Yellen’s speech. Either Yellen thinks we cannot be trusted with the truth (worrisome), or the Fed is clueless as to how its own policies operate (scarier).

SNIP

In a speech at the Federal Reserve Bank of Boston, Yellen said steady growth in inequality over the past several decades represents the most sustained rise since the 19th century. Living standards for most Americans have been “stagnant,” while those at the very top have enjoyed significant wealth and income gains, she said. Yellen listed four factors that can influence economic opportunity: investing in education for young children, making college more affordable, encouraging entrepreneurship and building inheritance.

Go read Martenson's commentary. The Fed is indeed Sociopathic.

[MeneMeneTekelUpharsin]

The Federal government and its agencies are destroying the nation with their policies while THEY live like kings.

[rarestia]

Welcome to 17th century Britain.

[wastoute]

It won’t be the first time The Fed has stolen. Reading the article about Bunker Hunt made my blood boil yesterday. Colluding with COMEX to steal billions while the Rats AND the GOP sat by and watched and DID NOTHING. And this was in the ‘70s. When a thief gets away with a crime he just goes on to plan an even bigger one. Hence we have Paulson and TARP. I guess Billions just didn’t give the same thrill anymore. Now it takes Trillions to get their juices flowing. One thing hasn’t changed. They are STILL getting away with it.

[dennisw]

The Federal Reserve has to flood the system with cheap fake money so that the Federales (Obama regime) pay low low interest on new Federale borrowings. So that the Obama regime has enough fake fiat money to charge the EBT cards and to dole out to favorite Democrat crony capiatists and black & ethnic constituencies. Solyndra and food stamps/welfare/EBT cards etc etc

The current system would collapse without this inundation of fake Federal Reserve moolah

[eyeamok]

or the Fed is clueless as to how its own policies operate

Don’t think for a second that these people are stupid or clueless, they know exactly what they are doing. ALL DEBT BASED Monetary systems require a Constant Devaluation just to Break Even, throw in the Welfare State and the ability to Print as much money as you desire and you see where it has got us.

simple question:

If ALL DEBTS public and private were PAID OFF today, would there be ANY Federal Reserve Notes or Credits in existence??

[theBuckwheat]

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

“This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”

From the last two paragraphs of Gold and Economic Freedom by Alan Greenspan. 1966.

see: http://www.constitution.org/mon/greenspan_gold.htm

[CharlesOConnell]

Another mystery, this one bigger, than Creature From Jeckyll Island's assertion that inflation is a tax…

A guest on Tony Brown's journal, a book writer, showed how the Fed is a gigantic tax farming operation:

• Making money ex nihilo, out of nothing, the Fed loans money to the US Government.
• The Government takes effectively 43% of our income, to repay the Fed.

Therefore, before you can pay your rent or mortgage, gasoline, grocery and other bills, you have to do your work for Massa.

You'll never know who owns the Fed: It's Top Secret.

[Buckeye McFrog]

Mister we could use a man like
Andrew Jackson again...

[PGR88]

Yes, the Federal Reserve is stealing from savers - but conservatives have to understand that it is the foundation of the progressive nanny state.

Without the Federal Reserve, a huge Federal government like we have now simply could not exist. End fiat money, end debt monetization and return interest rates to the market - and you kill the nanny state.

I’m surprised more conservatives don’t realize this.

[expat_panama]

If ALL DEBTS public and private were PAID OFF today, would there be ANY Federal Reserve Notes or Credits in existence??

No.   Total public & private debt: 57,538.86 Billions of Dollars; total money supply: 12,727.7 Billions of Dollars.  The good news is that it's always been that way and it's never been a problem.

[captmar-vell]

They chose Yellen the same way as many of these people are picked by this administration, think of the CDC head also,

For being somewhat disconnected or distanced from reality, having that glazed over sycophant look in the eyes, but unflinching and unquestioning and operating as if the current administration narrative is wholly based on sound reason and fact,

Outside of the bubble, many can see it for what it is, yet the media will only promote the hyper-reality of those as directed, so anyone awake and aware is marginalized

dangerous times we live in,

[RWB Patriot]

For what it’s worth, there is some good news: When the dollar finally collapses and people no longer accept it, the very people who benefited the most from inflation will be the ones in the deepest $hit, since they will have nothing to offer in exchange for the bread they need to live.

[Vaduz]

Stealing from savers is what Obama calls paying your fair share increase to ensue.

[minnesota_bound]

The only way I have made any money is in stock. Recently it was Ford from 2009 to early this year then I sold it in April and bought Apple - aapl
I have made $12,000 more since then as their price has gone up. If I had parked my money in the bank I would have made nothing.

[Wuli]

Much of the U.S. debt is continually “re-financed” as Treasury notes mature, and the debt level has not declined and new debt must be issued to replace it.

So, under Obama, and the Fed’s present low interest rate policies, Federal debt is rising massively. Future administrations and Congress will get most of the bill for it, as Treasuries continue to mature and when interest rates will be much higher. Those will also be times when more of the Treasury’s IOU’s to Social Security will be “cashed” by the Social Security administration and new debt will have to issued to pay for it. Obama’s additional entitlement expansions and the debt and interest burden will crowd out everything else, without massive tax increases that will only hurt economic performance and tax revenue. Yellen and Obama are creating a perfect storm of government financed economic decline.

[eyeamok]

The good news is that it’s always been that way and it’s never been a problem.

Wrong, We didn’t used to have BORROWED MONEY, there was 150 years where we actually Coined Money, and it was not Loaned into Society at Interest by The Federal Reserve Corporation.

[The_Media_never_lie]

When the dollar finally collapses and people no longer accept it, the very people who benefited the most from inflation will be the ones in the deepest $hit, since they will have nothing to offer in exchange for the bread they need to live.

I am not sure what you are saying. It would be good if this were so. That would be some kind of justice. However, why do you think it will be this way.

[Toddsterpatriot]

We didn’t used to have BORROWED MONEY, there was 150 years where we actually Coined Money

When we coined money, debt (and savings) were larger than money supply. So what?

and it was not Loaned into Society at Interest by The Federal Reserve Corporation.

Where do you get this silly idea? When a bank gets FRNs from the Fed, they buy them, they don't borrow them.

The Fed doesn't charge interest on FRNs because the Fed doesn't lend FRNs.

When you get FRNs from your ATM, are you paying interest on them? Are you paying interest on the $20s in your wallet?

Why? How much? Where do you mail the check?

[Toddsterpatriot]

Making money ex nihilo, out of nothing, the Fed loans money to the US Government.

The Government takes effectively 43% of our income, to repay the Fed.

Holy bad math, Batman!

The government, since the crisis, has been getting more back from the Fed, than they pay to the Fed in interest on Fed held Treasury securities.

So they need 0% of our income to pay the Fed.

Also, wages last year were over $7 trillion in the US, and the Fed doesn't even have $2.5 trillion in US bonds, so why would they need $3 trillion a year, to repay the Fed?

Sounds like Jim Marrs has an IQ so low, it's below top secret.