The United States has just experienced its most prolific national election scandal in modern history. Yet strangely, the story has failed to make headline news outside of financial publications. Imagine if the following statement was given by a Chinese trade official or a Russian intelligence officer:
"Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks - including the risk of losing the next election.
There's even an argument that the election itself falls within the Fed's purview. After all, Trump's reelection arguably presents a threat to the U.S. and global economy, to the Fed's independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020".
These are the words of former President of the New York Federal Reserve Bank, Bill Dudley. The statement is extraordinary and extraordinarily scandalous on multiple levels. First of all, Dudley suggests that the Fed should use its power as the chief manipulator of the world's reserve currency to meddle in the 2020 presidential election in a manner that is unfavourable to Donald Trump.
Dudley is in effect suggesting that the Fed should blackmail Trump by making him an offer he can't refuse. The offer goes something like this: either stop criticising the Fed and enacting trade policies which run contrary to the currency Fed Chair's apparent judgement, or else the Fed will play its part in ruining the economy so as to make a Trump 2020 election victory much more difficult.
If such a suggestion were made by an important former or current official of a foreign regime, one could imagine Washington levelling sanctions against such a country straight away whilst the expulsion of diplomats would likely also swiftly follow. But Bill Dudley is not an official from China, Russia, Iran or Venezuela. He was a powerful part of a highly secretive Federal Reserve cabal whose meddling in the US economy has always been foolish but as Dudley accidentally revealed, is also far less than benign.
By suggesting in public that the Fed should flex its political muscle with an aim to meddle in the 2020 US presidential election, something which even defenders of the Fed's position in the US and world economy would normally decry, Dudley has in the words of lifelong Fed opponent Ron Paul, actually done the wider public a favour by stating openly what Fed officials previously only said in private.
Those who adhere to the principles of Austrian economics and value economic liberty have long warned that the Fed does a great deal of harm to the economy by attempting to centrally control trends which irrespective of what one does, says or tries to do are ultimately controlled by the market itself.
[Ron: I disagree. The "market" is a myth. FAUX propaganda put out by the REAL controllers and manipulators of money creation and its usurious distribution, AND who also use their control of the money supply to DETERMINE what the so-called "hidden hand" of "the market" does.].
The Fed's addiction to debt creation makes the US poorer, creates global tensions through its manipulation of the dollar's value and creates artificial bubbles which benefit the super rich. These bubbles [Ron: are deliberately caused by the Fed increasing interest rates and reducing the availability of "money"; and they] inevitably lead to large scale busts/corrections which hurt the poor the hardest and often cause long term recessions.
[Ron: This is a false and misleading statement. The Fed is NOT "addicted" to debt creation, rather its primary function IS to facilitate "debt creation." That is what it does. The Fed is a privately owned bank that services and facilitates the activities of private banks in the US and globally, the sole purpose of which is to create DEBT! The "money" created by the Fed and its client banks is NOT money, the Fed banking system merely creates FIAT DEBT TOKENS mislabelled as "money" which are created out of thin air by key strokes on computers. Moreover, those debt tokens are issued in order to drain huge amounts of productivity from the real economy for the use and benefit of private banksters who receive the interest payments. This doesn't just make the US poorer, it is grossly impoverishing most USans and the nation. This is done by charging interest (usury) to the government and everyone else for fiat debt tokens which the US government mandates (using force and violence) as being necessary for use in relation to all commerce, industry and government payments.
Be aware that the survival of the Fed system REQUIRES a constant, ever growing accumulation of debt created by the government and the population taking out ever more and greater loans from banks. Why? Because the only way that the system operates is via issuing fiat debt tokens in response to governments, corporations and individuals pledging their credit for loans. Moreover, as the banks NEVER issue any "money" to enable the payment of interest on loans, there is always a shortage of money in the economy and the only way that those interest payments can be paid is if loans are made for ever increasing amounts of "money". The Fed system is a giant PONZI scheme in which governments are complicit.].
Yet even if one is not moved by these straightforward and empirically derived arguments for abolishing the Federal Reserve, now that Bill Dudley has shone a light on the Fed's ability and apparent willingness to meddle in the democratic process in the United States, one can see that the Federal Reserve is doing to America what the CIA has done to multiple foreign lands and what some in the US believe that Russia did to America in 2016.
[Ron: This has always been the case. The reason that Bill Dudley has publicly advocated that the Fed should overtly seek to undermine the Tump Administration is that President Trump is effectively exposing the fraudulent irrelevance of the Fed banking system prior to abolishing that private bankster scam and returning control of the US money supply to the US Treasury under genuine US popular control. When that is done the US money supply will be backed by gold and real assets and be issued free of usury. That will result in an enormous increase in the wealth and well being of all USans.].
Dudley's statement is the textbook definition of a powerful fifth column operating inside the United States and what's more is that this fifth column has control over the monetary supply.
One would have to be asleep not to realise that this is [Ron: and has been ever since the creation of the Fed and the IRS in 1913] the mother of all scandals. Even if one finds economic issues un-interesting, the Fed's latest scandal is one that is about electoral politics, election meddling and trampling on democracy in an entirely unconstitutional manner.
Move over Russiagate - say hello to Fedgate.
[Colour fonts, bolding and comments in square brackets added.].
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