Posted Nov 15, 2021 by Martin Armstrong
Every now and again I get those stupid hate emails to blame the federal reserve and central banks for everything while NEVER once do they ever look at the history of central banks and how Congress has been manipulating the law changing the definition of what the Fed was even supposed to be.
They do not even know why there are branches of the Fed. If there was just one interest rate and one policy set in Washington, then why do we even have branches of the Fed if they no longer act independently? For you see, when the Fed was created, the branches were to manage the internal domestic capital flows. Each branch was independent and they would lower or raise the interest rate in their jurisdiction depending on the flow of money. Too much cash and they lowered the rate. Not enough cash and they raised it. This was all before Keynesian Economics when the interest rate became the too to manipulate our demand.
Even the currency it first began to print was done so by each branch. The Panic of 1907 was instigated by the San Francisco earthquake of 1906 which caused the capital to flow from East to West and that created a shortage of cash in New York and thus banks failed. That is why the Fed was created with branches to manipulate the internal capital flows – not the Quantity of Money Theory or the demand of the people which has all stumbled to dust.
It was Roosevelt who usurped all the independence of the Fed and created a Washington monopoly to push his socialist agenda into place. We are hearing the same pitch of equality once again and Biden is going to take over the Fed and install his people which will be another full-blown socialist takeover. This will be the final alteration of the Fed making it entirely political to usher in this Great Reset. What was once an independent central bank, owned by the bankers to prevent taxpayer money from being used to bail out the banks, today the banks may own the Fed in name only, but the reins of power are political. The president appoints the head – not the bankers.
Today, Biden will stuff the Fed and it will do the bidding of this global agenda because he is not even really in charge. The Fed has the power to create elastic money and it will return to that because Biden will need that as private capital flees government debt on a global level. In the end, these globalists’ agenda is to default on all national debts and they will no longer need to bail out the bankers. The game is changing forever. Welcome to the Decline & Fall of Western Civilization.