Federal Reserve Bank

The Federal Reserve Bank was created in 1913 as a monopoly with a 100 year lease to issue US money known as Federal Reserve Notes.  Should it be renewed in 2013?  The Feds mandate is to provide money for growth while maintaining stability.  In the last 100 years the dollar has depreciated 97% and is now worth three 1913 cents.  This is 3,300% inflation and robs us of our savings.  The capital gains tax is really an inflation tax.  Capital Gains taxes should be adjusted for inflation.  This is one reason that long term capital gains rates are lower than current income tax rates to compensate for inflation.

The Fed does QE by buying government securities monitizing the debt and enabling politicians to overspend.  The Fed creates this money.  It did not exist before.  This scenario is done all over the world with citizens owing more and more money to the bankers.   For more details about the Fed see G. Edward Griffins book, The Creature from Jekyll Island.  Also see The Coinage Act of 2012 on these pages.

The Fed is pursuing a policy of low interest rates and a low dollar value.  The low interest rates are to promote growth and prevent deflation.  The low dollar is to promote exports.  Most central banks are doing this.  Some call this “the Race to the Bottom”.  But our economy is 86% consumer driven and only 14% export driven.  It makes more sense to have a strong dollar to increase consumer buying power.

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