What is the author’s primary critique of the Federal Reserve?
The author’s primary critique of the Federal Reserve is that it is a private cartel of elite banks operating for their own benefit and the benefit of entrenched politicians, rather than a truly public or federal institution. The author argues that its name is a misnomer because it is not “federal,” it “reserves nothing,” and it is not a “bank”.
Key aspects of this critique include:
Currency Devaluation and Inflation: The author contends the Federal Reserve has printed so many dollars that it has devalued the currency by 95% since 1970. Specifically, the author gripes with the “2% inflation target,” arguing it is a mechanism that devalues personal savings and acts as a “fiat money steal” of wealth from the poor, the young, and those on fixed incomes.
Enabling Government Overreach: By moving away from a gold-backed dollar to a fiat system managed by the Federal Reserve, the author believes the “Gooferment” (government) is enabled to engage in an “endless spending spree,” “forever wars,” and “welfare to buy votes”.
Systemic Harms: Citing G. Edward Griffin, the author lists several reasons why the institution should be abolished, claiming it destabilizes the economy, is an instrument of totalitarianism, and serves as the “supreme instrument of usury”.
Moral and Historical Failure: The author contrasts the current system with the gold standard period (1870–1913), during which prices decreased while the standard of living increased. The author views the Federal Reserve’s takeover of money as a primary step on the “road to perdition” for the United States.
Ultimately, the author views the Federal Reserve as a cartel operating against the public interest and advises individuals to save in gold, silver, and other non-dollar assets to protect themselves from its effects.
*** end quote ***
What more can I say!
And I; pushing this out on “Tax Day” in the USA.
“Inflation is theft, you’re stealing value from people who save money.”-Ron Paul
“Inflation is always and everywhere a monetary phenomenon” — Milton Friedman
“What do you call it when someone steals someone else’s money secretly? Theft. What do you call it when someone takes someone else’s money openly by force? Robbery. What do you call it when a politician takes someone else’s money in taxes and gives it to someone who is more likely to vote for him? Social justice.” — Thomas Sowell
“Taxation is theft” is a libertarian and anarcho-capitalist slogan arguing that government forcibly takes private property without consent, treating it as extortion or involuntary servitude.
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FJohn Reinke
Consultant at Technology Legacies LLC
Advisor, Computer Governance Committee at Manhattan College
Editor / Publisher at Jasper Jottings
Greater New York City Area
Reinke Faces Life 