THIS IS F*CKED UP

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Jack Lovett

Tax is theft!

Jack Lovett

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

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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 Paul’s “End the Fed” message suddenly resonated. Americans hated Fed officials bailing out the banksters – 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 nation’s largest banks have been busy stimulating the real estate, equity, and bond markets.

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 “We’ll 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.

Audit the Fed

The article outlines the central bank’s 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, America’s 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.

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.

Censored Speech

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.

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.

World Release: 1 Oz Silver South African Krugerrand

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 father’s effort to audit the Fed. Let us hope the developing outrage with the Deep State expands to include the central bankers.

Crawfisher
Crawfisher

OK, I am no fan of the Fed, mainly b/c they bailed out foreign banksters and the 2% inflation target (their calculation excludes main street costs) is a tax on every US citizen.
Serious question – what do we expect to find in an audit of the Fed?

PlatoPlubius

We d ont need to audit the FED to see the shell game going on…
Seriously,

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The Creature from Jekyll Island, who was handed the sole authority to print and manage our currency by the U.S. Treasury Dept back in 1913 and which charges interest to us CITIZENS for doing it (something we could do for free like the Lincoln Greenbacks)
Has been the largest buyer of U.S. Treasury debt for years(after too big to fail TARP bailout/greatest wealth transfer in history) along with other Central banks like Japan and England…
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Think about it…. the private institution who prints and regulates our currency and bank lending in this fractional reserve banking system HAS been purchasing the IOUs that our government has been soliciting in order to fund our budget which continues tomorrow regardless of who is the CEO…. This will not end well considering the only thing backing the FRNs is our labor and the life insurance plan started at birth for each of us (aka Social Security fund)….
Where are most of the jobs in Amurika? That’s right, the service industry, roughly 70% of the overall workforce….again, this will not end well.

Anonymous
Anonymous

Duh, paying well over 50% of my income. Have heard the American Revolution started over a 10% rate,

Skindog
Skindog

Working men / women don’t stand a chance ! And these taxing authorities, well they spend every penny and more – it’ll never be enoughfor them.

THEFT BY DECREE

Skindog
Skindog

tax the peasants’ income to pay the intetest on the T-BILLS to those that hold T-BILLS

Filomeno Reyes
Filomeno Reyes

Don’t forget insurance payments. Not to beat a dead ovary but I have mentioned in the distant past that illegals get a tremendous break by not having to pay for taxes or insurance.

PlatoPlubius

Filo et al,

The common misconception that illegals d ont pay taxes was addressed on the Q thread to Mark I believe… Trump tweets this fallacy often.

https://www.vox.com/2018/4/13/17229018/undocumented-immigrants-pay-taxes
An excerpt:
The most recent IRS data, from 2015, shows that the agency received 4.4 million income tax returns from workers who don’t have Social Security numbers, which includes a large number of undocumented immigrants. That year, they paid $23.6 billion in income taxes.

Those undocumented workers paid taxes for benefits they can’t even use, like Social Security and Medicare. They also aren’t eligible for benefits like the earned income tax credit. But the IRS still expects unauthorized immigrants to file their taxes, and many of them do so…

(Illegals)have an Individual Taxpayer Identification Number (ITIN), created by the IRS in 1996 so people who aren’t allowed to work in the United States could still file taxes on any income they earned. (The IRS does not share ITIN information with immigration authorities.)

Anonymous
Anonymous

Remember, the SCOTUS said that medical insurance was also a “tax.” Add another 18% to the Tax side.

PlatoPlubius

Yup! Outrageous! We got taxed while the corporations got to ditch an additional offered benefit to their employees….puttingthe requirement on the individual.

Wal Mart has been notorious for working it’s minimum wage employees just enough hours so they wouldn’t have to pay for medical insurance for them, instead their employees were directed to the state’s Medi Cal offices.

The middle class is being systematically thrust downward while the poor and destitute are being demonized as the reason for their woes ….class warfare disguised, oldest trick in the Machiavellian book.

Bilco

Yeah the tax situation is a joke,but here is an even bigger one. There is a small city to the south of me called Utica NY. It has half the population it had 40 years ago,and even less of the industry that once made it a small industrial city. Anyway….Some dimwit congresswomen has the President coming to fund raise for her today. To go and see the peoples President it will cost you a $1000,to have a picture taken with him is $5000,to sit around a table and talk with him is $15000. As much taxes as we pay to support these clowns.One would think they would be more than happy to talk to us. After all don’t they work for us,and represent us? (sarc.)

Llpoh
Llpoh

Around 60 or 70% of the tax take goes to welfare. Ain’t that special. The bulk of the balance goes to military and govt drones of one type or another.

Welfare states are simply not sustainable. The parasites vote, and their number grows until the entire system collapses.

Grizzly Bare
Grizzly Bare

I think you meant warfare, not welfare.
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MrLiberty
MrLiberty

And tariffs are just a tax wrapped in the American flag.

Todd H.
Todd H.

Next we need a chart depicting the amount that America spends on interest and bank fees.

WestcoastDeplorable
WestcoastDeplorable

Let’s be real. If our actual tax burden as a equal share of the population was ever revealed, people would stop paying anything. It’s like $500,000 per capita or so. We’re seriously fucked.

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