LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek Radio: Dr. Chris Martenson & Bob Hoye
By: Chris Waltzek Ph.D., GoldSeek Radio

Goldís Century
By: Michael J. Kosares, USA Gold

What Gets Measures Gets Improved
By: Keith Weiner, Monetary Metals

SWOT Analysis: Central Banks Continue to Show Their Love for Gold
By: Frank Holmes, US Funds

You Will Be Surprised At The Real Reason Gold Has Rallied
By: Avi Gilburt

Very Important Week for Gold: Where Is the Price Heading?
By: SRSrocco

Precious Metals Update Video: What a great week for Gold Bulls
By: Ira Epstein

A Precise Forecast for the Dow
By: Rick Ackerman, Rick's Picks

COT Gold, Silver and US Dollar Index Report - June 21, 2019
By: GoldSeek.com

Why are central banks buying gold and dumping dollars?
By: Richard (Rick) Mills

 
Search

GoldSeek Web

 
The Federal Reserve: Secretly Sticking It to Americans for Over 100 Years


 -- Published: Monday, 13 August 2018 | Print  | Disqus 

By Clint Siegner

In the aftermath of the 2008 Financial Crisis, the private Federal Reserve bank cartel was front and center as a target for public outrage.

Former U.S. Congressman Ron Paulís "End the Fed" message suddenly resonated. Americans hated Fed officials bailing out the banksters Ė richly rewarding them for crooked and irresponsible behavior which helped create the crisis.

But years have passed. Americans have been enjoying the expansion stage of the next great bubble. The central planners at the Fed and their colleagues at the nationís largest banks have been busy stimulating the real estate, equity, and bond markets.

Audit the Fed

The movement to audit or end the Fed has faded back into obscurity.

That is why an article published last week in the Wall Street Journal came as a bit of a surprise. The headline is "Weíll Never Know How Bad the Federal Reserve Is," and it serves as a reminder for those who may have forgotten the Fed is NOT your friend.

The article outlines the central bankís policy for keeping secrets. As the primary regulator for U.S. banks, the Fed is responsible for examining banks and writing reports on what it finds.

However, those reports are not for public consumption. They are exempt from the Freedom of Information Act. Instead, they are kept in a file for 30 years, then destroyed.

Examiners might be investigating the errors and sins committed by a bank, but the public never gets to make their own evaluation. We cannot gauge either how thorough the investigation was or whether any penalties are commensurate with the crimes.

The reason for such secrecy is obvious. The Federal Reserve was designed and built to make sure neither its officials nor private bankers are held publicly accountable.

Time and again, Americaís latest central bank has provided bailouts for Wall Street, with Main Street footing the bill. Not a single high-level bank executive has been prosecuted for the rampant and pervasive fraud associated with the 2008 crisis.

Too Big to Jail

The big banks have prospered, growing larger and even more "systemically important," a term which means "too big to fail." As a regulator, the Fed is remarkable for its staggering ineptitude or for its total corruption. You decide which.

Meanwhile, politicians in Washington DC have been able to accelerate the growth of government spending, facilitated by the central bank in myriad ways.

Of course the central bankers will tell us that secrecy is important for "maintaining independence" and "security" of the markets. These claims that there is a legitimate need for secrecy would be slightly more credible if it were for a limited time.

That is not the case however. The Fed is, in many regards, a virtual black box which shall remain closed for all time, at least if officials continue to have their way.

The most "interesting" works of the Wall Street elites in power there will never be published or examined. It is considered vital the public never knows about certain activities.

Secret Label

There is only one reason for that level of secrecy: We might object.

The fervor with which Fed officials oppose any attempt to bring more transparency and accountability is something Americans might now find familiar.

The central bank is another arm of the Deep State, much like the FBI and intelligence agencies.

We have learned a lot recently about what happens when entire bureaucracies operate in the dark and stop concerning themselves with the rule of law.

Senator Rand Paul is continuing his fatherís effort to audit the Fed. Let us hope the developing outrage with the Deep State expands to include the central bankers.

Clint Siegner is a Director at Money Metals Exchange, the national precious metals company named 2015 "Dealer of the Year" in the United States by an independent global ratings group. A graduate of Linfield College in Oregon, Siegner puts his experience in business management along with his passion for personal liberty, limited government, and honest money into the development of Money Metals' brand and reach. This includes writing extensively on the bullion markets and their intersection with policy and world affairs.

 


| Digg This Article
 -- Published: Monday, 13 August 2018 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.