11 Lies About The Federal Reserve

11 Lies About The Federal Reserve

And the response...

HuffPo's 11 Myths About the Fed, Refuted | Liberty Classroom

It seems to me that the original Huffington Post piece is merely a list of strawmen and appeals to authority.

 

Some of us prefer to read:

1. “The Fed actually prints money.”
2. “The Federal Reserve is spending money wastefully.”
3. “The Fed is causing hyperinflation.”
4. “The amount of cash available has grown tremendously.”
5. “The gold standard would make prices more stable.”
6. “The Fed is causing food and gas prices to rise.”
7. “Quantitative easing has not helped job growth.”
8. “Tying the U.S. dollar to commodities would solve everything.”
9. “Ending the Fed would make the financial system more stable.”
10. “The Fed can’t do anything else to help job growth.”
11. ”The Fed can’t easily unwind all of this stimulus.”

Loonies that buy that crap are beyond reason so any attempts to 'refute' are for the benefit of the refuter, not the refutee. Just the same, I'm wondering why they left out two others we hear a lot:

• The Fed is a private bank
• Nobody audits the Fed.

Crazy. Amazingly crazy.

 

Why have a discussion when you can simply denigrate the intelligence of anybody who would dare disagree with you, right?

 

There's a lot on that list that's accurate.

We never ever had a Great Depression before the creation of the Fed. Coincidence?

 

The IS causing food and gas prices to skyrocket.

 

Nope.

 

What good is an audit of the Fed when it doesn't include their open market operations? I mean the only thing really pertinent is what the fuck they're DOING with the money they create.

 

No, uncontrolled Wall Street speculation on commodities caused it. Thank your conservative politicians.

 

Speculation in commodities is fueled by a rapid increase in the monetary base by the Fed via several rounds of unsterilized asset purchases totaling into the TRILLIONS of dollars.

You don't just buy up corn and wheat and gold and silver for no fucking reason.

 

US Dollar devalued 90% since the Fed took over in 1913 but thank goodness there's no inflation!