Saturday, January 05, 2008

Raving sane?

"Deepcaster" (Financial Sense, January 4) looks again at the mysterious ownership (and creation) of the US dollar by a private bank, the Federal Reserve. The more one reads about it, the weirder it gets - it's like finding out that ET really does exist!

The conspiracy theory here is that the Fed and other central banks are a cartel that not only inflates the money supply, but has created trillions in derivatives, partly to manipulate the investment markets. "Deepcaster" accuses this cartel of engineering drops in the gold price, just when you'd think gold should be emerging as a natural currency.

He brings in the Amero theory, too - ultimate replacement of the destroyed dollar by a new North American currency, presumably so the crooked poker game can continue with fresh cards.

Can anyone please shed light on all this? For example, who EXACTLY are the owners of the Fed?

If nobody knows or is willing to tell, perhaps one of us should claim ownership - "finders, keepers".

2 comments:

Anonymous said...

This is very interesting...

But I wouldn't go as far as FSU to assert that the Fed is 100% private bank. If you take a look at the Wikipedia's Federal Reserve System, it says that:


The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act, it is a quasi-public (part private, part government) banking system[1] composed of (1) the presidentially-appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils.


I guess the lack of transparency of the Fed lends the case for conspiracy theories. Whether these theories are true or not is a different story.

Sackerson said...

But why do it in this cockamamie way? If the government wishes to print money, let it print money. What's the benefit of this shell game, apart from employing stuffed shirts to swig wine and hold oak-panelled meetings?