Down with the Constitution!

constitution burning

 

 

 

 

 

It has been quite an eventful and productive couple of weeks for the forces of statism in the former “land of the free, and home of the brave.”

The federal government’s highest court has enshrined “perversity” into law, guaranteeing untold amounts of future litigation while infringing on the right of freedom of association and, just as important, “disassociation” for those who rightly consider sodomy an abomination which wantonly mocks the Author of the natural law.

Prior to its cultural wrecking decision on “gay marriage,” the Court ensured that socialized medicine would become a permanent feature of American life upholding a key provision of Obamacare.

While the Supreme Court was issuing its heinous decisions, the two other federal branches of government were also actively augmenting the American Leviathan. After considerable arm twisting, threats, payoffs, and a large dose of GOP support, President Obummer was able to secure passage of the TPA fast-track legislation one of, if not, the greatest piece of “crony capitalism” ever conceived. Of course, in the current statist era, the exact details of this monstrous law has, as of yet, been made public, however, what has been made known is quite chilling.

While these liberty-defying acts were being committed, a prior provision of the American police state was renewed by Big Brother Barack and his Congressional Commissars. The National Defense Authorization Act (NDAA) which outlines the budget and expenditures of the U.S. Defense Offense Department has since 2012 contained the provision (section 1021) “which allows the Federal government, through military force, to arrest anyone, including American citizens, without a warrant, and hold them indefinitely without charges or due process – habeas corpus.”

Naturally, there was considerable outrage among freedom groups and those within the alternative media over the latest expansion of federal power. The responses, however, were typical with calls for “taking back the country from the globalists,” “restoring the Constitution,” “electing liberty-loving candidates to office.” The latter cry was spoken about the most with the Presidential election around the corner with some commentators speculating on which candidate could best “turn things around.”

Such talk and the tactics promoted to combat totalitarian America have been trumpeted so many times that they have long ago lost their appeal. They are not only worn out, but they would not work even if successfully implemented, simply because they are not directed at the source of the problem.

The recent judicial decisions, the many wars, the debasement of the currency, spying, the fomentation of racial violence, and the ruination of the economy are the result of a single institution – the United States federal government – which was surreptitious created with the “ratification” of the Constitution in 1789 against, as most historians agree, the will of the American majority for which it would tyrannically rule over ever since.

“The Miracle at Philadelphia” was a “miracle” only in the sense that the event has been viewed as some sort of liberty defining watershed where individual rights would be safeguarded and state power held in check by the Constitution. Few historical fantasies have been believed for so long!

Instead of a federated system where power is decentralized between national and local governments, the Constitution created a highly centralized state through the document’s often vague terminology “for the general welfare,” and its explicit grants of power, “federal statute is the supreme law of the land.”* The highly lauded system of “checks and balances” between the three branches of government have rarely, if ever, stemmed the growth of state power.

Yet, despite the suzerainty of the federal state, “patriots” and all those opposed to the regime still believe the system can be “reformed.” Even when the national government is controlled by those supposedly sympathetic to liberty, government power continues to expand while any previous welfare or draconian measure enacted are never curtailed, much less abolished.

Attempts at reform or working within the “political process” is a gigantic waste of time. Instead, such efforts should be directed at secession the goal of which is the dismemberment of the Federal Union into sovereign, independent entities, the greater in number the better.

Until the Constitution is recognized for what it is, the chances of ending the American police state, economic recovery, and the cessation of the myriad of global conflicts, wars, and hostilities in which the U.S. is actively fomenting, are next to nil.

The dissolution of the U.S. “federated” Republic is not only necessary for the well being of Americans, but for the peoples of the globe, millions of which have been murdered, intimidated, plundered, and spied upon by the Leviathan residing on the shores of the Potomac. Likewise, as the Constitution has served as a model in the development of nation states throughout the last three centuries, so its demise will provide an example for the rest of the world to hopefully emulate.

* Kenneth W. Royce, Hologram of Liberty: The Constitution’s Shocking Alliance with Big Government.  Javelin Press, 2nd ed., 2012, pp. 105-106.

Antonius Aquinas@AntoniusAquinas

Banksters Responsible for Irish Crash

the Central Bank’s former head economist Thomas O’Connell has told the Oireachtas Banking Inquiry that Ireland’s banking and economic crash should never have happened.

In testimony before the Oireachtas Banking Inquiry, Thomas O’Connell, the ex-head economist of Ireland’s central bank, attempted to deflect blame for the part he played in the financial crisis of 2008 and the subsequent bust that occurred.

O’Connell had the nerve to say that “[It] should never have been allowed to happen with all the consequences of huge increases in unemployment, rising emigration, enormous debt, suicides . . . that we have seen.”* No kidding, Sherlock!

O’Connell believes that the financial crisis occurred not because of the policies of the central bank per se, but because it was the failure of the government and “regulators” to curb the excesses and bubbles that were forming mostly in the real estate sector, “any concerns or issues raised by staff for airing in the public arena were invariably watered down so as not to reflect adversely on matter of concern to Government.” He added that it was “difficult to get views through that might impinge on vested interests.”

Naturally, since O’Connell was a paid employee of the central bank, he would want to divert attention or critiques of its role in the calamity. O’Connell wisely (for his sake) focused on periphery issues, but failed to discuss the actual genesis of the crisis which rests in the explosive expansion of the money supply generated by the European Central Bank (ECB). The “new” money and credit was then facilitated by the Irish central bank and funneled through the country’s banking system that ignited the boom.

The graph below shows the dramatic growth in the money supply during the boom period. Unfortunately, Ireland adopted the Euro in 1999, but it did not begin to circulate internally until 2002.

From 2002 to the onset of the financial panic, the money supply almost doubled from €5 ½ trillion to nearly €10 trillion. The new “liquidity” drove up asset prices and inflated real estate markets, especially in Spain and Ireland. Despite this fact, O’Connell remained silent on the ECB’s reckless monetary policy in his address.

When asked about how the crisis could have been avoided, O’Connell suggested (apparently with a straight face) that there were too few economists employed by the regulatory agencies and the government and that those that were on staff were largely ignored: “This would have been less of an issue if there was a willingness to listen to the view of economists. In addition, the Financial Regulator employed very few economists.”

Yeah, right, that is definitely what Ireland needed – more economists such as the likes of O’Connell who are nothing but apologists and spinmeisters for the global financial elite who enable them to continue their endless rounds of money printing for their own enrichment and power to the detriment of the poor and middle classes!

Instead of more economists as O’Connell ridiculously recommends, the financial crisis could have been avoided, or more accurately would have never taken place, had Ireland and the rest of Europe followed sound economic theory long spoken of and taught by real economists, and ignored monetary cranks like O’Connell, Benjamin Bernanke, Mario Draghi and Janet Yellen. The financial crisis of 2008, and the far greater one to come, would never have occurred if Ireland was devoid of the plague of central banking, and money was once again a commodity.

If Ireland ever wants to get out of the financial quagmire it now finds itself in, it must stop listening to or give any credence to the very people that are responsible for the creation of the mess in the first place. Instead of recognition, the likes of Thomas O’Connell should be ignored, ridiculed, or, better yet, prosecuted for the incalculable economic and social damage that he and his fellow banksters have perpetrated.

Before economic recovery can occur, there must first take place intellectual change and the acceptance of policies and institutions that have stood the test of time. Gold and silver have been monies for some five thousand years, their re-adoption as the medium of exchange in Ireland will go a long way in the Emerald Isle’s economic and social restoration.

 

*Claran Hancock, “Banking and Economic Crash ‘Should not Have Happened.'”  The Irish Times. 10 June 2015.

Antonius Aquinas@AntoniusAquinas

 

 

 

 

Monetary Quackery in Ireland

Honohan Ireland’s Central Bankster, Patrick Honohan

If Ireland is ever going to leave PIIGS status (the acronym for Europe’s most indebted and financially challenged economies – Portugal, Italy, Ireland, Greece, Spain), it must stop listening to, and then criminally prosecute the monetary authorities which have brought the country to financial ruin. It can start this most necessary process with the nation’s central bank governor, Patrick Honohan. Not only must Professor Honohan be hauled away, preferably in chains, but the sinister institution in which he heads, Ireland’s central bank, Banc Ceannais na hÉireann, must be eradicated.

In comments before the Irish finance committee (Oireachtas) on the European Central Bank’s (ECB) latest round of “bond buying” (in actuality, the monetization of debt), Honohan praised the ECB’s action saying “it has been an unmitigated plus for the Irish economy.”* He added that the ECB’s money printing extravaganza had a “broad distributive impact” throughout the economy. In his most accurate statement (unbeknownst to Honohan) the ECB’s money printing would be of great benefit to Irish public finances.

No doubt, that at least for a time, Ireland’s public finances will gain, but such benefits will only be derived at the expense of consumers who will be paying higher prices as the ECB’s new round of inflation percolates through the economy. The nation’s debt burden is also certain to widen which now stands at a staggering 114% of GDP.

To praise the ECB’s action shows that monetary quacks like Honohan have learned nothing from Ireland’s recent financial history. For it was the massive credit bubble created by the ECB and the nation’s financial institutions, most notably the Anglo-Irish Bank, which created the artificial boom of 2001- 08 that led to the inevitable bust which has devastated the economy. It has been estimated that over this time period, lending for mortgages rose from €44billion to €128billlion. Overall, Irish financial intermediaries from 1998 to 2007 increased lending some 466%!

Of course, when the bust came none of the culprits had to suffer the consequences of their nefarious behavior, but instead were bailed out by the Irish government through the creation of the National Assets Management Agency (NAMA) to the sum of some €70billion. The public is footing the bill for the banksters fraud through “austerity,” a crushing debt burden, and hefty tax increases.

While Honohan believes that the ECB has brought the Irish economy “unqualified benefits,” the facts, even by untrustworthy government statistics, belie such an assertion. The unemployment rate remains stubbornly high at nearly 10% while “youth unemployment” is a catastrophe with levels at some 20%! Worse, these numbers will not improve since policy makers remain clueless on how to remedy the situation.

Ireland’s household saving rate has plummeted to 6.45% for the fourth quarter of 2014. Personal savings from 1999 to 2014 had averaged 9.77%. Such a drop shows the pinch that citizens have remained under since the beginning of the crisis.

Honohan’s comments must be seen for what they really are. Heads of central banks are as much spinmeisters as the talking heads and teleprompter readers of the dominant news and television industries. Honohan’s main task is to protect the “integrity” of the Irish central bank. The solvency of the banking system and the government is what counts for the central bank. Jobs, price inflation, public debt are all secondary concerns for central banksters.

The only just and financially sound action for Ireland to rebound from its bankster-induced economic malaise is to outright repudiate its public debt and let the institutions and governing bodies that were responsible for it collapse. Hopefully, in the wake of such a scenario a new monetary order will arise without the scourge of central banking where money is once again a commodity – gold and silver. For Ireland’s future, anything less will only mean continued economic decline, social disintegration and debt slavery despite the optimistic words of central banksters like Patrick Honohan.

* Arthur Beesley, Irish Times, 28 May 2015.

Antonius Aquinas@AntoniusAquinas

Monetary Reform in Iceland: Maybe There is Still Hope?

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Despite the barrage of catastrophic financial data throughout the Western world, there may be a glimmer of hope coming from the tiny Nordic island of Iceland.

It must not be forgotten that it was Iceland which was one of the first to feel the fallout of the financial crisis of 2007-08. Unlike most of the other nations, however, Iceland showed tremendous backbone and did not allow, for the most part, any of the NWO monetary agencies to intervene in its affairs. So, any Icelandic currency reform considerations must be taken seriously.

Instead of following in the global insanity of massive money creation, artificial suppression of interest rates, and all other sorts of tricks and gimmicks, Iceland is considering the prohibition of banks from artificially increasing the money supply through the fraudulent and evil practice of fractional reserve banking (FRB).

The Financial Times reports that the government in Reykjavik is contemplating “a complete ban on its banks creating krona when they issue new loans. Growth in the money supply would become a matter of government policy alone.”* In the proposal under consideration, “the state has complete monopoly on legal tender. Banks can only lend what they have previously gathered in state money.” The Times adds: “Money created ‘out of thin air’ – the devilish secret at the heart of fractional reserve banking – become a relic of the past.” Oh, if it was only so!

Of course, the Financial Times gets much wrong in the story, but it does show that the monetary authorities of Iceland recognize that there is something radically wrong with the current monetary order, especially with FRB.

While Iceland’s proposal to eliminate banks from fractional reserve practices is commendable, the replacement of it by total governmental control would lead to similar, if not worse problems. Under such a system, the money supply would be subjected to the whims of politicians who, no doubt, would expand it at the drop of a hat to gain and or maintain their power among constituents. Such an arrangement should send chills down the spine of every native Icelander.

Economic theory has clearly demonstrated that a monopolist will exploit the privilege in which he or it is given and the Icelandic government would be like any other monopolist. Monopoly control leads to higher prices and shoddy services. In the case of a money monopoly, the quality of money (its purchasing power) would drop.

A far sounder proposal for Iceland and for the world at large is to take away the power of both banks and governments to create money “out of thin air.” This would mean a complete “de-politicalization” of the Icelandic monetary order. A non-statist monetary system would surely be based on commodities – gold and silver – where the money supply would be determined by the amount of minerals mined, not by government fiat.

A metallic monetary standard naturally puts a limit on the amount of money in “circulation” since it has to be “produced.” Extracting gold and silver from the earth is an expensive process. Printing paper notes is virtually costless.

What Iceland, and for that matter, the rest of the world apparently does not understand is that economic growth is determined not by the amount of money there is, but the amount of genuine savings. If Iceland seeks economic well being, it should undertake policies that increase savings.

There is a bigger hurdle that will most likely prevent either Iceland or any other nation from undertaking any meaningful monetary reform. FRB and central banking (which was created to legitimize fractional reserve banking) are the instruments where governments and the political elites derive much of their power. Central banks buy the public debt that allows government to spend recklessly without recourse. If this was taken away and states had to rely solely on taxation, their power would be severely curtailed.

Iceland and the Western world’s financial doldrums will only be cured when FRB and central banking are eliminated. Prior to this, however, public opinion must be convinced that the only economically sound and morally defensible monetary order is one where money is fully redeemable in gold and silver. Until this is recognized, Iceland and the rest of the global economies will continue to stagnate and eventually collapse.

* “Iceland’s Daring Raid on Fraction Reserve Banks.”  Financial Times 10 April 2015.

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Big Banks Profit While Main Street Suffers

Bankers v Main Street

 

 

 

 

 

 

If anyone doubts that the Western world’s monetary order is rigged to enrich the banking system, the first quarter financial reports of America’s top banks should disabuse any unbelievers.

The Financial Times reported that four of the five big U.S. trading banks had a combined revenue of $19.4 billion in the first quarter of 2015. Goldman Sachs had a 14.7 percent* return on its equity in the first quarter while J.P. Morgan, the nation’s largest bank, earned $5.91 billion or $1.45 a share, up 3.6% from a year earlier.**  Revenues for J.P. Morgan grew 4% to $24.8 billion.

The enthusiastic coverage of the big banks healthy first quarter proceeds and the chest-thumping of its bank executives left out, not surprisingly, the real reason for their windfall gains – the Federal Reserve. The big banks have been the chief beneficiaries of the Fed’s easy monetary policy since the start of the financial crisis.

The Fed’s “zero interest rate policy” (ZIRP) and its “quantitative easing” (QE) program have been the catalyst for the large banks’ recent record performance. Ostensibly, these policies were instituted to assist the economy in its recovery from the Great Recession, however, in actuality they have been done to save the big banks from collapse while the economy has been flooded with billions of increasingly worthless dollars causing significant price inflation.

Low interest rates have enabled the banksters and financial houses to borrow at next to nothing and invest in all sorts of ventures, many of which are highly risky. Easy money is also the cause for the huge run up in assets prices and the highs in nominal stock prices.

Worse, ZIRP has allowed the federal government to sustain its ridiculous level of spending, borrowing what it cannot raise in taxes at a near zero rate of interest.  When interest rates do rise, the federal government will most likely default, bringing the banks down with them.

While the big banks and Wall Street have done quite well from the Fed’s massive money printing, everyone else has suffered and have seen their standard of living plummet even from official estimates.

The Federal Reserve reported a slowdown in hiring in March, a big drop off in industrial production, and lower housing starts in the first quarter, to mention just a few troubling statistics. Things are getting to the point that the Fed is reconsidering whether it should raise interest rates in the second half of the year as it had hoped to do. Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, admitted, “Data available for the first quarter of this year have been notably weak.”***

The first quarter sizable earnings of the big banks are an example of what a number of commentators have termed “crony capitalism.” Through government assistance, businesses earn wealth not by pleasing customers and satisfying their needs, but by currying favors from the state. In the banksters’ case, instead of making wise and prudent loans, they receive largesse in the form of billions of Federal Reserve notes.

Not only is such a system immoral, but it gives legitimate market activity – those firms that do not receive state assistance – a bad rap as profitable enterprises are lumped in with state favorites. This ultimately leads to greater regulation as calls for the government to tax “windfall profits” would affect all firms even those who earned rightful profits.

The solution to crony capitalism and the ill gotten gains of the banking system is not greater oversight, but instead, the abolition of the Federal Reserve and a return to sound money based on gold or silver. Under such a system, banks and financial houses would profit only if they satisfied consumers’ wants.

In the banks’ case, this would mean safeguarding depositors’ money and making prudent loans with the funds they were entrusted with to lend. For those financial institutions that succeed at such tasks, profits would be their reward; for those who do not and mismanage investment funds they would be out of business and allowed to fail. Banks would operate under the same economic laws as any other enterprise.

The prevailing system of crony capitalism which benefits the 1% must be exposed for the grand redistribution scheme that it has long been. Only when bankers earn their wealth as Main Street does will America return to a just and (sound) monetary order.

*Tom Braithwaite & Ben McLannahan, “Goldman in Robust Return on Equity Showing,” Financial Times, 17 April 2015, 14

**Ciaran MCEvoy, “JPMorgan Profit Beats Wall St. Views, As Does Wells Fargo by Shrinking Less,” Investor’s Business Daily, 15 April 2015, A1.

***Jon Hilsenrath, “Fed Shies Away from June Rate Hike,”  The Wall Street Journal,  17 April 2015.

Antonius Aquinas@AntoniusAquinas

 

 

Obama’s Call for Mandatory Voting

Obama mandatory voting

 

 

 

 

As if there have not already been enough signs pointing to a future totalitarian America, President Obama’s recent remarks on “mandatory voting” is further evidence of what is in store for those who continue to remain within the confines of the former “land of the free and home of the brave.”

In lamenting to a civics group about the amount of money which now accompanies most elections, Obummer suggested that mandatory voting requirements “would be transformative if everyone voted. That would counteract money more than anything.”* Naturally, he did not mention the vast sums of cash that the Obama re-election team spent during the 2012 presidential campaign, some of which has been estimated to have been on the north side of $40 million greenbacks!

The Dictator-in-chief uttered more hypocrisy when he suggested that the young, lower-income groups, immigrants, and minorities were being kept from voting by Republicans in some states: “There’s a reason why some folks try to keep them away from the polls.” While there has never been a shred of evidence of Republicans or conservative groups keeping any eligible voter from the polls in any recent election, there is plenty of eyewitness accounts and video footage of Obama’s re-election team’s Stalinist employment of black thugs in certain Philadelphia precincts intimidating white voters in the last presidential election farce.

Such a scheme coming from an avowed statist as Obama who brought coercive health care to America should be of no surprise. Yet, this is the natural outcome of social democracy and if trends are not reversed, compulsory voting will become a part of the U.S.S.A’s political landscape.

The two criminal, oligarchical political parties that have run this country into the ground over the last hundred years or so understand that mandatory voting will further legitimize their corrupt rule. With it, people will be forced to participate in the bread and circuses that the American political process has become, including the grand hoax that is conducted every four years to determine which demagogue will weasel and lie his or her way into the highest office in the land.

More fundamentally, if mandatory voting becomes a feature of American political life, it will mean that the modern democratic state born during and in the aftermath of the French Revolution will have achieved one of its most cherished goals in its quest at becoming mankind’s foremost “god.” Mandatory voting will require citizens (“subjects”) to pay homage to the state-god through the “sacred” process of voting. At such a point, its suzerainty will be nearly complete.

While critiquing Obummer’s latest draconian scheme is necessary, alternative and counter measures need to be proposed. Short of scrapping altogether the current constitutional republican system and returning to a more preferable one of a “confederation of states,” the following reforms (as a start) should be enacted to curb confiscatory mass democracy:

First, instead of enlarging the franchise, it should be severely limited with significant property qualifications for voting. Age requirements should be increased to at least thirty years. U.S. Senators should once again be appointed by state legislatures. Also, anyone who receives public monies, be they government contractors, welfare recipients, bureaucrats, elected officials or teachers, should be prohibited from voting. This would also include employees of the Federal Reserve and its member banks.

Above all else, the idea that voting and democratic elections are synonymous with freedom and liberty must be debunked. Mass democracy needs to be ideologically demystified as a force for social good and seen as a grand redistributive engine of wealth from the productive to the parasitical classes. It remains the greatest threat to private property, individual liberty and global peace that mankind faces.

Proponents of mandatory voting like Barack Obama need to be ridiculed and driven from the positions of power they hold for advocating such tyrannical notions. Mandatory voting is a bad idea whose time will hopefully never come.

David Jackson, “Obama Broaches the Idea of Mandatory Voting, ”  USA Today.  19 March 2015.

Antonius Aquinas@AntoniusAquinas

 

Don’t “Audit the Fed,” Abolish It

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In recent remarks to the Senate Banking Committee, Federal Reserve Chairwoman Janet Yellen was her typical evasive and non committal self when the topic of interest rate hikes were broached. When the subject of potential oversight of the Fed came up, however, Ms. Yellen became quite forthright in her response.

When asked about a bill introduced by Kentucky Senator Rand Paul to “Audit the Fed,” Ms. Yellen declared: “I want to be completely clear: I strongly oppose ‘Audit the Fed.'”*  Ms. Yellen defended her position on the grounds, which have been given by every previous Fed Chairman, that oversight would lead to politicized monetary decision making thus compromising the central bank’s “independence.”

Senate Banking Chairman, Richard Shelby (R., Ala.) countered the Chairwoman saying “there is an even greater need for additional oversight” of the Fed since the onset of the financial crisis in 2007.

Ms. Yellen, her predecessors, and every other Fed apologist are simply wrong when they assert that the central bank is an independent agency that is free of political influence. The Federal Reserve System was created by an act of Congress (1913) and can ultimately be “reformed,” altered, and or abolished by Congressional fiat if so desired.

That Congress does not oversee Fed policy is a result of its charter, which was originally crafted by the Big Banksters of the time (mostly the Rockefellers and Morgans) in concert with their bought for and paid politicians. The lack of oversight was a deliberate part of their plan to give bankers and financers free reign to conduct monetary policy for their own benefit.

The Federal Reserve is and has always been a political creature designed for the benefit of financial elites. It is a highly privileged cartel with monopoly control of the nation’s money supply. Unlike the propaganda which emits from Fed officials, the central bank was instituted to protect banksters from financial collapse and bank runs. Fine tuning the economy, reducing unemployment, or fighting inflation are all ancillary concerns for the Fed.

These are the simple facts which are deliberately kept from the public at large by the political establishment, academia and the media.

The Audit the Fed movement, which began in earnest with Ron Paul’s first presidential run, is a wrongheaded approach to solve the nation’s ongoing financial crisis. Senator Rand Paul’s bill is mostly grandstanding to bolster his status among the Republican Party’s populist contingent in his anticipated race for the nomination.

In fact, instead of meaningful reform, greater public oversight of the Fed would most likely lead to worse results. Every Congressman and Senator would be pressuring the central bank to fund their pet projects. Can one imagine what the growth rate of the money supply would be if 535 ravenous politicians had a say in the conduct monetary policy?!

Those who want to reverse the nation’s economic malaise should seek the Federal Reserve’s abolition and advocate its replacement with a de-politicized monetary order free of central banking. Such a system would most likely be based on a commodity (gold and/or silver) where “money producers” are free to engage in the creation of the “best money” and banking services to satisfy customers’ needs.

In such an order, banks would function as any other enterprise by profit and loss. If banks loan funds wisely, they will succeed; if not, they will fail and go out of business replaced in the marketplace by more savvy entrepreneurs. There will be no bailouts at taxpayers’ expense for reckless financial speculation. Money and banking would become a sound and honest undertaking.

To actually believe that an Audit the Fed initiative would become law is beyond naïve. The political establishment will never voluntarily relinquish or allow any legitimate oversight of one of its chief pillars of power.

Instead of seeking change via politics, reformers must first change the climate of public opinion which can only be accomplished when the prevailing ideology is debunked. Until the Federal Reserve is seen as an engine of inflation and the creator of economic disorder which needs to be eradicated, America’s financial woes will, unfortunately, continue.

* Jon Hilsenrath, “Yellen Puts Fed on Path to Lift Rates,” The Wall Street Journal, Wednesday, 25February 2015, A1, A2.

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