The Fed… (cue Darth Vader theme song please)
Jokes aside, this is an interesting conversation with Judge Napolitano and Glenn Beck regarding The Fed and its role in our economy and daily lives as Americans.
Whenever The Judge speaks, I listen. Whenever Beck speaks I pay attention, but with caution. He’s still a little too pro-war for me and I recall a clip of him promoting the bailouts when they were first announced. Perhaps he was just scared, perhaps he was misinformed, perhaps he was paid-off… I don’t promote any of those ideas as truth, but any of them are possible.
This private, run-for-profit bank is the unaccountable finance arm of American wars, European bailouts and the cash (aka debt of our future American children) creation machine of our government whenever they decide that the $2 trillion of tax dollars brought in each year isn’t enough to finance their projects.
For a little back story from a thoroughly biased (and very intriguing) source on the shady beginnings of The Fed, here’s a quick 5 minute video from the author of the classic Fed expose The Creature From Jekyll Island, G. Edward Griffin.
No matter your views on economics, central banking, or Hamilton vs. Jefferson arguments, it seems logical to me that we can all agree to an audit of this institution and an itemized listing of where this money has been spent. Why doesn’t Bernanke want to do this? If it is public funds being allocated to private businesses, we as lawful tax payers (well, most of us anyway) have the Constitutional right to know how that money is being spent. Am I wrong?
Remember, a central bank was on Karl Marx’s Christmas List for government…
A couple interesting books on the topic:
- Ready to have your paradigm “popped” by The Bubble?
- Dr. Paul and The RNC get cozy on the gold standard
- Which would you prefer?
- Paul Krugman schooled by Spanish “Austrian” Economist Pedro Schwartz
- Interview with Dr. Robert Murphy, “Freedom, Commerce and God”
- Tony Robbins dishes on bailouts and printing money
- Incredible conversation with Nobel winner Vernon Smith
- What if Democracy is bunk?
- Rick Santorum: adorable hypocrite
- Free-market government?