The Path to Fed-Exit

undefinedI recently proposed that the liberty movement capitalize on Brexit with “Fed-exit”: a campaign to “secede” from the Federal Reserve. Fed-exit could be accomplished with a few simple policy changes.

Passing Audit the Fed is a good first step toward Fed-exit. Contrary to the Federal Reserve’s propaganda, auditing the Fed will not reduce the Federal Reserve’s mythical “independence.” It will simply allow Congress and the people to learn the full truth about the Fed’s conduct of monetary policy.

However, the desperation with which the Fed fights the audit bill suggests it believes increased transparency will boost support for Fed-exit. Considering what we discovered from the limited audit of the Fed’s activities during the 2008 financial crisis, the Fed’s fears may be justified. That audit revealed that between 2007 and 2008 the Federal Reserve loaned over $16 trillion — more than four times the annual budget of the United States — to foreign central banks and politically-influential private companies! Imagine what would be revealed by a full audit that includes looking at the Fed’s recent explosion of money creation via “quantitative easing.”

Once Congress and the public know the full truth about the Fed’s operations, we can begin working on ending, or at least reining in, the Fed. A good next step would be to explicitly forbid the Fed from making “loans” to private businesses or foreign governments. Section 13(3) of the Federal Reserve Act, which the Fed claims gives it the authority to provide “emergency assistance” to private companies, must be repealed.

Congress should also pass legislation reversing President Ronald Reagan’s executive order creating the “Plunge Protection Team.” Created after the 1987 stock market crash, the Plunge Protection Team’s “job” is to intervene whenever the financial markets appear to be on the verge of a meltdown, in order to prolong the Fed-created illusion of economic prosperity.

Congress should also restrict the Fed’s ability to purchase government securities, which the Fed uses to monetize the federal debt. Congress should also stop the Fed from manipulating interest rates. These actions would reduce the economic instability wrought by the Fed’s monetary policy. Ending the Fed’s monetization of the debt could also force Congress to not just halt the growth of, but actually begin to roll back, the welfare-warfare state.

The best way to rein in the Fed is to restore the gold standard. However, this must be a true gold standard, not the phony post-war Bretton Woods gold standard or the “gold price rule” promoted by the supply-siders. The “gold price rule” requires the Fed to raise interest rates whenever the price of gold matches or exceeds a Fed-determined target. Thus, this rule still allows the Fed to attempt to “fix” the price of money. It just provides the Fed with another after-the-fact indicator that the latest inflationary bubble is about to burst.

The most important step toward Fed-exit and the restoration of a true free-market monetary system is the repeal of all laws that in any way restrict individuals from using alternative currencies. Under a free-market monetary system, some individuals will choose to use metal-based currency, while others will choose to use digital currency. Some many even stick with fiat money. The important factor is not the type of currency individuals use, but that people have the right to decide for themselves what unit of exchange they use for their economic transactions.

As long as the Federal Reserve is allowed to manipulate the value of money and support the welfare-warfare state, we will never have a truly free market or a free society. Therefore, all those who seek liberty, peace, and prosperity should join the effort for a Fed-exit.

 


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bb

16 Trillion ? Just watched … The Big Short… last night.I googled the main characters . Most of The elites that caused this sub prime mortgage scam to the middle players to the ones that sold short were Jewish. They are all criminals , thieves and liars who got away with the biggest bank robbery in history. None of them has went to jail or paid one cent back to America.In the movie some were made to look like they cared about us goy but their own statements prove otherwise.

starfcker
starfcker

Lead the charge, dude. Nice to have a wish list and all. How? Fucking how?

Ed
Ed

Audit the Fed is a non-starter. Congress ain’t about to fix this shit. I’m waiting for Ron to wake up and admit to everyone that “working within the system” never worked out for him, that it was doomed from the start and that you can’t kill a snake by living in its belly.

Apparently he still thinks he accomplished something by wasting half his life in politics.

starfcker
starfcker

Ed, he didn’t waste anything. What dr paul did was wake up a lot of people, myself included. Ten years ago it was really really hard to get any kind of good information. He frustrates me now, because he seems oblivious, revolution on, and he missed the starting gun. But he was the man, for a while. His legacy will be towering.

bb

Admin ,that’s because at the time you believed the libertarian nonsense.You still believed in the America of our fathers . I think Ron Paul is a good ,decent man but that is not what we need.There is no working within the system. I realized that last night watching and then reading about the sub prime crimes of the century. The whole Damn financial system was involved in this scam of lies , deception and crime. America is irredeemable .

Fiatman60
Fiatman60

“I think Ron Paul is a good ,decent man but that is not what we need.There is no working within the system.”

Exactly…. the time you need these type of people in office is the day after the great reset. That’s why Trump can’t make Amerika great again.
He will try to work within the system, and it is too corrupt to see any meaningful changes during his term in office.

rhs jr
rhs jr

We didn’t become a great country by running from Tyrants; when we stand up to the Zionist, they will have to run from US to some other unfortunate country!

IndenturedServant

The system is the way it is because it benefits those who put the system in place. Voting won’t change that. A race war won’t change that and neither will a civil war or third world war. The cocksuckers behind this shit are masters of the game. They will never ever do anything or allow anything to be done by anyone to change that.

I don’t think the situation is 100% hopeless but pretty fucking close. The first step would have to be citizens united and standing together. The second step is to be absolutely willing to give up EVERYTHING we all have. I’m not saying you’ll lose it all but you have to be willing to. The third step is to simply stop participating in every way possible. Stop going to work. Stop using the internet, stop turning on the TV, stop expecting a SS or welfare check or even a privately earned retirement check since no one will be working to write or mail it. Picture a giant, nationwide sit in taken to uber extremes. The fourth step is to demand an end to the Fed and a return to the Constitution of the United States of America…………not the Constitution of THE UNITED STATES. There is a very real difference. The final step is for everyone to have and live a life of personal responsibility.

The owners of the system know this will never happen. Hell, some of us can’t even take our eyes off the iCrap long enough to prevent falling off a cliff. The best any of us are going to do is continue to paddle around in their sewer trying to stay as clean as possible while asking “how high?” when told to jump.

The saddest thing about the book The Fourth Turning is that it fails to acknowledge the fact that the owners of this system always remain the owners through each stage of the turning. It claims that the old order is washed away but that’s not true IMO. The old order just improvises and adapts continuously using Fourth Turnings to disguise this fact. The owners of the world monetary systems have been in control through multiple fourth turnings and this one will be no different.

Boat Guy

When a free republic of independent states is morphed into shadow or skeleton of its original self . All this being done by the very people elected and sworn to a sacred oath to protect and defend the constitution of the republic while claiming to represent the will of the citizenry of the republic . And as a matter of course the citizenry become distracted by foolish selfish pursuits allowing the elected to run through the constructed constitution hollowing it out to win favor by virtual theft I fear all is lost . To think my wife and I toiled 30 years to own something and my government can apply a lean against my private property to infinity then do I or any of us ever own anything or has the state encroched or trampled on the individual rights to a point of no return placing all of us in the catagory of indentured servants something specifically spelled out as a protected right against such a slavish existence again I fear all is lost and can only hope to stay strong enough to fight before I will beg from the criminal class that has indebted and thus destroyed our once great nation from within . Remember the line ” Protect and defend against all enemies foreign and domestic ” . Remember that line when some paid servant to the state tells you sorry just doing my job ! Also remember the servants of a once great and powerful state who used that excuse , this powerful state tried and convicted them for crimes against humanity and left them to dangle from a rope at Nuremberg !

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