Wayne Jett: “Strong” Dollar Is Fool’s Gold – Demand For U. S. Dollar Is Phony
By Wayne Jett © February 1, 2016
When U. S. economic and monetary policy gets into serious trouble, as at present, grab your wallet. Payrolls are being cut and businesses closed, unemployment is at depression-level 25%, while savings earn near-zero interest for the past seven years. Major media jargon is flying thick and fast telling you the Federal Reserve Board is working hard to find a solution beneficial to the public. By this time, you should be certain the talk is deception aimed at robbing more value from your savings and invested capital.
Fed policy and U. S. economic policy are designed to destroy the main street economy and leave the public with enormous financial losses. This is most certainly true in the current fuss about the “strong” dollar. Current U. S. monetary policy is as phony as a three-dollar bill and just as incapable of providing anything good.
Theft By Monetary Policy
Let’s have a brief review of the deviltry flowing from keypads and databases of the minions running the Federal Reserve. The Fed – you must understand – is a privately owned and operated enterprise given power by Congress to create currency used in the U. S. But no official of the U. S. government is authorized to know how many dollars are created or how the Fed uses them. The Fed issues financial statements to serve its purposes as it sees fit, but no one can be certain the statements are accurate or comprehensive.
By August, 2008, Fed reports showed a total of $845 billion issued comprising the entire U. S. dollar monetary base. Presently the Fed reports having issued monetary base of about $4.5 trillion or, stated another way, about $4,500 billion. Thus, during the past seven-plus years, the Fed has issued more than four times as many new dollars as were created during the previous history of the U. S.
These seven-plus years experienced no growth. In truth, honest numbers would show U. S. recession/depression throughout the period. These numbers alone indicate Fed actions have reduced the dollar’s unit value by about 80% since mid-2008. The value taken by the Fed from your savings and capital is now in the accounts of the firms and individuals to whom the Fed wired the newly created dollars.
This is only the beginning of the Fed’s money crimes. A limited audit of Fed records obtained by Congress found the Fed had distributed $23 trillion to financial firms of its board members and owners during 2008 and 2009. Those numbers are not shown in the Fed’s public financial reports, nor are the names of parties receiving the funds or the terms on which the funds were provided. The $23 trillion, or more, may have been transmitted as outright gifts to entities which own the New York Fed, so far as we know.
Read the rest of this financial analysis here.
http://classicalcapital.com/Strong_Dollar_Fools_Gold.html
