Yesterday's release of Fed minutes proves exactly one thing: They do not have a clue.
The Fed is apparently composed of senile morons who can't recognize a recession when it slaps them in the face. And, these are the idiots we entrust with the fate of our economy?
It's no wonder that the middle class is being destroyed. There's no reason to blame just any bankers for the crime. All you have to do is to look at the Federal Reserve, which is composed of bankers who call themselves “Federal” in the same way Federal Express uses the term. They are just a lot of loopy clowns who blather away and seemingly convince most of our gullible compatriots that they know what they're doing.
The truth is that the Fed is a corporation setup by Congress to make senators and representatives rich at your expense. You see, the Congress can't print money and stuff it into their own pockets. But, after they setup the Fed, they simply have the Fed print money and stuff it into their pockets. They can't be blamed because “the private sector Fed is making the decsions—surely, you can't blame us poor Congressmen who leave office with millions and billions in wealth, can you?”
Hell, yes, we can blame Congress. They're the ones who created the Fed and it's Congress' responsibility for the crimes that are being committed and which go unpunished every day. These days, it's obvious that the politicians' motto is: Laws are for the Little People. When a poor person steals $30, he goes to jail for ten years. When a bankster steals $30 Trillion, he gets awarded the Congressional Medal of Honor.
Where else other than Washington, DC, can a penniless representative get elected, go to Washington and, all the while bloviating on what the country needs all day, end up a multimillionaire? You know the answer, of course. It's a totally corrupt, political game where the Fed prints the money and gives it to Congress. It's the old “You scratch my back and I'll scratch yours game.” And, Americans, like the absolute fools we are, accept this criminality and even choose which candidates we “like” and which ones we don't.
Get real, folks, you are being played for suckers. The government is stealing from the poor to enrich themselves. How else could an amateur like Obama get elected? All he had going for him was ... what? He never did anything before becoming President. How did he get to be a multimillionaire? He made deals with criminals who control this country. The criminals decided that they could get anybody elected (that's because the criminals choose both candidates and don't allow anyone else to run. Ever notice how the campaign contributors contribute to both campaigns.)
If our Founding Fathers could see us today, they would reject everything we've become. We are far worse than any British monarchy they threw out of the country.
Just read what the Fed members said yesterday and see whether a fifth-grader could do a better job of controlling the money supply:
A few members expressed the view that further policy stimulus likely would be necessary to promote satisfactory growth in employment and to ensure that the inflation rate would be at the Committee's goal. Several others noted that additional policy action could be warranted if the economic recovery were to lose momentum, if the downside risks to the forecast became sufficiently pronounced, or if inflation seemed likely to run persistently below the Committee's longer-run objective.
Get real, folks. We're either in a new recession or we never came out of the last one (the way the government statisticians lie about things, you can never tell reality from the The Matrix). If the Fed jerks had an IQ above moron level, they could see the economy is going into a big ditch again. And, they say claptrap like the above!
There's only one thing that could help us start to recover. That thing is to get rid of the Fed and never let them back into power. We need a sound currency, we need to eliminate debt — it's called a Debt Jubilee, and it's the only way we can possibly recover our economy.
Failing that, expect the economy to plunge back into recession. Really, it's a long, rolling Depression, and it won't be long before even Joe Sixpack realizes it.