The Secretive Villain Of Our Economic Decline

By Bill Lussenheide
Candidate US Congress CA-49
http://www.FaithFamilyFreedoms.blogspot.com

We currently find ourselves in the worst economic crisis since the "Great Depression". If you have an inquiring mind, you have to ask "how did we get into such a mess?"  We can point our fingers at many that are indeed guilty, such as Wall Street, the mortgage industry,  cowardly politicians, and plain old fashioned "greed and dishonesty" and there is some truth to be found there. However, there is one entity that is not well understood by most of us, that lurks in the shadows and in reality has the greatest accountability here. That entity is the Federal Reserve. It is guilty for dereliction of duty in its entrusted job of maintaining a stable dollar and as a protector of economic stability

The Federal Reserve began in 1913. Its job was to be a protector of our monetary system. Since then, we have had many recessions, the Great Depression of the 1930s and our current debacle. Each and every single one of them can be traced to the Federal Reserve manipulating interest rates, to either higher or lower than what the free market has determined what that rate should be. The results are either inflationary artificial booms, (such as we saw with the housing boom these past few years with artificially low rates) or cycles of tight money and recession/depression.

The Federal Reserve's interference throws markets and interest rates out of balance. Although short term this may all seem to be "fine and dandy" there is always a longer term price to pay, and inevitably the "chickens come home to roost". The Federal Reserve has the tremendous ability to create money out of thin air, but with a cost, for all money creation, in the current system, is only created through the mechanism of DEBT. Money supply growth is thru the vehicle of loans. Like the personal abuse of credit cards, the compounding of interest on this debt lives long after the enjoyment of the purchase.

It may come as a surprise, but the Federal Reserve, in spite of its name, is actually a privately owned cartel and is only a "quasi governmental agency". It is actually owned by its member banks, which hold its stock. The primary dealers are the well known entities such as UBS, Goldman Sachs, Citigroup, Credit Suisse etc. These business entities harvest the benefits of interest debt and inflation, and are "insiders" to the mechanisms and directions of this process. Realize that much of the "bailout" that was given to banks by the Federal Reserve was actually authorized by these very same banks themselves as members of the Federal Reserve! Talk about a conflict of interest!

The original Founding Fathers were aware of the danger of having any single entity hold too much power, and enacted a series of checks and balances in our founding documents. As a matter of fact, there is no authority in the Constitution for the federal government to create a central bank, to enact legal tender laws, or to print unbacked fiat paper money.  Constitutionally speaking, our State of California is prohibited from issuing bills of credit or I.O.U's as it has recently done. Money, by law, was to be backed only by Gold and Silver. This may sound like an archaic, medieval concept, but as recently as my early childhood in the early 1960s, my lunch money consisted of real silver coins, and even paper dollars that still had a theoretical redemption value in gold. It is still possible for us to restore sound money, replacing a debt based monetary system, and the sooner we do, the better for our country.

The Founding Fathers knew that unbacked paper money would ruin our beloved and hard fought for country, and they put into the Constitution the way that would ensure a sound, commodity-backed currency.  Unfortunately, the Constitution was dismissed and ignored a long time ago. We find ourselves now suffering under an unconstitutional regime of bogus paper money.  Until we abolish the Federal Reserve, and its severe conflicts of interest, and return to a true stable currency that will not create boom and bust cycles, we will continue down the path of economic manipulation, bubble markets, and our debt slavery to the banking system. 

When elected to the US Congress, you have my pledge to put full effort into dismantling this destructive and  unconstitutional institution.