Probably one of the most confusing and utterly useless institution in our nation these days is the Federal Reserve. Created in 1913 during the time when most of the Socialist ideals gained enormous popularity in America, it was designed to be a central banking system that would ensure that there would be no more market crashes like those experienced previously. They would regulate the money supply and thus ensure that the natural market forces would be circumvented.
Now, in the context of the times, this was not a shocking move by those who ruled over us with the nine rings of power (nine Supreme Court Justices, nine rings for mortal men doomed to die…hmm). Anyway, there were other progressive things done back then that have further caused the ruin of our country. For example, the income tax was passed into law. Why did they make an amendment, instead of just passing a law and ignoring the Constitution? Simple, the Nazgul, I mean Supreme Court, told them that such a law violates the Fourth Amendment. Unfortunately, no one has ever really challenged the Nine on the whole constitutionality of the Federal Reserve.
As far as I can tell, as I am not an economist nor a banker, the Federal Reserve is a private organization that was forged in Mount Doom to rule over the other rings of power. Basically, they are the ones who control the flow of money in the market. As such, they wield enormous power over all of us as our purchasing power is determined by the flow of money in the market. They are owned and operated by Keynesian economists who believe that they are gods over the free exchange of goods and services between individuals.
And if that was not enough, they continually tinker with the money supply in order to encourage or discourage consumer spending and consumer debt. In my view, it is immoral to oppose debt in all forms and then turn around and support the Federal Reserve increasing the money supply to encourage debt DAVE RAMSEY!!!
(Sorry, that is just another blog for another time. I do have some problems with Dave Ramsey, but this blog post will be about focusing my anger on probably one of the single largest and oldest unconstitutional organizations to ever walk this great nation.)
The main problem I have with the Federal Reserve is that they always seem to be above the scrutiny that they should be. No one, save a few, in Congress ever questions their role in the economic crashes, recessions, and depressions that have occurred under their watch. Instead of being looked as the culprit, Congress holds committee hearings in which they beg and plead with the Federal Reserve Chairman to do something about the economy. After all, their jobs are at stake whenever the economy is bad.
The main problem that most people have with getting onboard to end the Federal Reserve is that they simply do not understand what it is or what they do. To be honest, I barely understand what it is they are suppose to do in order to prevent market crashes. Given their track record, it seems to me that they have done a terrible job of trying to prevent market crashes. We are at what, the fourth or fifth major one right now that has happened under their watch?
But here is the thing you and everyone else who cannot or will not understand what the Federal Reserve does: it does not matter because they are an unconstitutional organization. The responsibility of maintaining the money supply rests solely on Congress as outlined in the Constitution. They are not allowed to pawn such a lofty responsibility off on to a private organization, much like how they pawn their war-making responsibilities off onto the Presidency.
So in the end, it does not matter whether or not the Federal Reserve is good or bad for America, the economy, or banks. They are an illegal outfit run by a bunch of elitist snobs and they need to go.
Unfortunately, there are not enough hobbits to thrown at them in order to do this.
(On a side note, I do not believe that The Lord of the Rings was meant to be equated with an overbearing and tyrannical government. It is not an allegory, just a story.)