Yesterday the Federal Reserve released a large amount of previously "secret" records regarding their practices of lending. Most Americans were amazed to find out that the Federal Reserve has been printing and lending money to not only American banks and organizations, but FOREIGN banks and organizations. May I ask why the Federal Reserve lent hundreds of billions of dollars to private offshore banks? Did this really help stimulate the American economy?
Now the Federal Reserve plans to inject another $600 billion into the U.S. economy becuase they believe we are in an era of deflation. Sorry to break it to big Ben Bernanke, but this isn't going to help. Printing money and buying U.S. treasury bonds from private banks such as Goldman Sachs is not going to stimulate our economy. The Federal Reserve is one of the most secret and corrupt organizations within the United States Government. I take that back, it's not even part of the government, yet it is one of the largest factors in our economic system.
We are only learning this information because congress forced the Fed to give it up. What have they been doing with our money for the past century and can we survive without them? People like Ron Paul think we can, is he right? Should we put our faith in a private and secretive organization to play God with out economy in lieu of thier links with foreign ties? Whether or not the Fed should exist is one argument, but I'm sure a large majority of people can agree that this type of shadow government needs a large scale and full audit.
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