Kill the Fed

44 | By Shah Gilani

It’s maddening…

Our economy is stagnating.

The divide between haves and have-nots is widening every day.

There are fewer and fewer good jobs and careers to be had.

And maybe worst of all, according a survey by the non-profit Employee Benefit Research Institute and Greenwald and Associates, about 36% of workers have less than $1,000 in savings and investments that could be used for retirement (not counting their primary residence or defined benefit plans and traditional pensions), and 60% of workers have less than $25,000.

What the heck happened?

The Federal Reserve System is killing America. It has destroyed the economy. It has undermined savers and retirees. It is even responsible for the corruption in Congress.

We have to kill the Federal Reserve before it kills America for good.

There’s nothing in the Constitution about a central bank. There’s nothing “free-market” about a central bank. There’s no reason for a central bank – with omnipotent power over the creation of money and credit, over employment (which is an absolute joke), over the entire economy, and over Congress – to exist. No reason.

Okay, there is one reason…

The Only Reason the Fed Exists

The Federal Reserve, America’s central bank, exists to serve big banks and Wall Street.

There is no other reason for the existence of the Fed. None.

Central banks exist to backstop banks. They were all created by bankers to serve them.
When banks get into financial trouble (for any number of reasons, all of them having to do with their bad management and greed), if there is no backstopping angel with unlimited (completely made up out of thin air) resources to bail them out, they would shut down.

And they should shut down. Sure, there would be losses. Equity owners would lose, creditors would lose, and some depositors would lose money, too, if they aren’t covered by FDIC insurance.

But if banks were allowed to fail, if they were each on their own insignificant enough to the financial system, to the whole economy, that they could fail without doing economic damage, they should be allowed to fail. Small banks are still allowed to fail based on this exact principle.

But clever bankers, the masters of the biggest banks in any system (in the U.S. it was a group of the most powerful banks in the U.S. and allied banking interests in Europe in 1913) figured out that if they got so big that any one of their failures would result in contagion and undermine the financial system and the economy, then they could convince governments to create central banks to safeguard systems and economies.

The Federal Reserve was legislated into existence in 1913 precisely to backstop America’s biggest banks. The history of exactly how the Fed came about and who was involved in the secret meetings at JPMorgan’s private island to design the “System” (they didn’t use the term bank because they wanted to imply a safety “system” and not raise the ire of the public, who were fearful and skeptical of the big banks that were already running the country) is one of America’s greatest cloak-and-dagger stories.

The true tale is laid bare in an extraordinarily well researched and documented book “The Creature from Jekyll Island” by G. Edward Griffin. Read it.

Without getting into the weeds on how they mechanically do it, it’s instructive enough to know what the Federal Reserve does. In a nutshell, all their “regulatory” duties aside, the Fed prints money and gives it to banks.

That’s right, the Fed – not the U.S. Treasury – creates dollars. The Treasury actually prints dollars and mints coins, but they only do enough of that to keep a certain amount of currency in circulation. The creation of money comes from the Federal Reserve System.

Look at your dollars, any bills in your wallet. They don’t technically belong to the Treasury. They say right up top: “Federal Reserve Note.” It’s Federal Reserve money. But the Fed doesn’t have to have the Treasury print money to give it to banks. They just credit banks electronically. And, like magic, banks have money when they need it.

Here’s How the Fed is Killing America

They backstop banks, all the too-big-to-fail banks, not littler, less important banks that are allowed to fail because they’re not politically important, all the big banks. And they backstop Wall Street speculation.

Banks are speculators, and they are part of what we call “Wall Street.” Wall Street makes money by shuffling paper, by playing in and manipulating what are supposed to be free-market capital markets. When they over-leverage and their paper juggling, hot-potato money-making schemes implode, they would fail (Bear Stearns and Lehman Brothers did, and so did Merrill Lynch and Goldman Sachs and Morgan Stanley and Citigroup, all of them imploded, to one degree or another, in 2008) and be wiped out.

But the Federal Reserve can save any of them, or which they want to save, and it did just that in 2008. They saves their own and let a few institutions be absorbed by bigger institutions so they could become more systemically important. And in doing that the Fed saved the financial system.

Good for them. And good for us, right?

No. The Fed plays god with the financial system. It plays god with the economy. And it rules over Congress and is responsible for our massive debt.

By backstopping banks and Wall Street speculation, the Fed has increased the “financialization” of the American economy. Our economy is more about moving paper assets around to create wealth than it is about producing and manufacturing real goods and services.

That’s why the divide between the haves and have-nots is getting wider. If you have financial assets, you’ve benefited by the Fed’s zero interest rate policies (or ZIRP). That’s because speculators know the Fed won’t let Wall Street down, they won’t let markets drop. That’s great if you’re a financial paper punter.

But, while the Fed has lowered interest rates to zero for banks and speculators to borrow cheaply to leverage up their paper financial assets (in rigged capital markets), those low rates have destroyed savers pocketbooks. Savers aren’t punters. They park their money in fixed-income investments to earn a yield.

Savers have been destroyed by the Fed.

And the deficit? That’s the Fed’s fault. Congress doesn’t have to tax the public to keep spending. The Treasury issues all the bills, notes, and bonds it wants to raise money, and the banks buy most of their paper obligations. Then the Fed buys those bills, notes, and bonds from the banks with the money they “print” electronically. That’s why there’s no accountability in Congress.

Far worse, the bankers, with their fat profits, lavish money on Congress to get what they want. There’s no one in Congress, no one, who doesn’t take campaign money one way or another from some financial system player. Wall Street owns Congress and they get their money to buy their puppets from the Fed’s backstopping.

There’s no need for a Federal Reserve if the TBTF banks are split up into hundreds of regional banks. If no single bank failing would cause contagion, or harm the economy, they should be allowed to fail.

If we want to take back America from the bankers and the Wall Street machinery that soaks up economic capital for their paper-pyramiding wealth-minting factories, and disadvantages savers, producers and workers, then we have to kill the Federal Reserve Bank.


44 Responses to Kill the Fed

  1. Blaine Mitton says:


    You are right on with this story, Creature from Jekyll explains it all and who the benefactors were and still are

  2. Neutron Jack says:

    If we did away with the FED, unemployment would go up because Janet Yellen and the Federal Reserve Board of Governors would be unemployed and that would go against the dual mandate of devaluing the dollar and keeping their pals in Congress so the gravy train can continue forever.

    On second thought, Shah you are brilliant! What a great idea……accountability for the large banks.

    So, how do we get Congress to do away with the monster that feeds them?

  3. kspain says:

    Right to the very essence of the truth. Great comment. And exponentially true for European Banking system. What should we little guys do?

  4. Tim Kertis says:

    Well done. I couldnt have stated this more eloquently. I want to see lobbyists hang like traitors myself. I never understood how the Fed ever was given authority over the US government’s dollars. Such a great country with a fatal hidden and devious flaw.

  5. Al says:

    Amen. It is amazing how many Americans still believe that the Fed is a necessity, is a government agency, and is in business to help them. Try telling someone how one of the Fed’s stated goals is to steal purchasing power aka money from them and they look at you like you are insane. Yet it is an absolute truth. It would seem that this is based on a fear of the unknown since the Fed has been in existence during out entire lifetimes. The current system is not working – time to try a new model. Thanks Shah.

  6. David says:

    There is a good youtube vid that explains it all; “TheMoneyMasters”. I agree 100% with everything you just wrote. The fall of the dollar whether it be by collapse or slow wasting is inevitable. I do not believe that things will be changed to save it, to many people with their own personal interest and no interest in saving America and the dollar. What every hard working American needs to do is imagine what they would do if they woke up tomorrow and the dollar was worthless…then prepare. Make win, win decisions on how to protect your wealth. Win if the dollar stays viable and win if it becomes worthless.

  7. HYMN says:

    I liked your idea of getting rid of the fed. It’s a great Idea whose time has come. Perhaps you or a group of “you” could get it put on a ballot,or buy a congressman to draft a bill outlawing the outlaws. Given how we can’t even get an independent audit those things aren’t going to happen. But it is the best idea I’ve heard of in a long,long time.

  8. Ziggy says:

    Shah thank you for a honest article . The path to fix the American and world financial problems is to get rid of all central banks, the Fed included.

  9. Jorge says:


    In the 1900’s thru 1950’s the Fed served the usefull function of performing a a bank
    of last resort which supplied the liquidity to small up to Large banks to aid them in
    liquidity crunches in which banks found themselves flush with loans on their
    balance sheets but with little in cash an liquid assets (short term investments such
    as short term T-Bills), and faced with depositors who were panicky and wanted their
    money. Try to remember “Its a Wonderfull Life” with Jimmy Stewart in the movie
    imagining its 1929 to 1933 and the middle of the Depression. Stewart had lots of
    real estate loans on his Building and Loans books, but little in the way of liquid
    short term investments which could be converted to cash. The only option for
    banks in that era was to Call Loans, literally to require debtors of the banks to
    pay up ASAP!!!! Banks could do this because most loan agreements had a
    provision allowing the banker to “Call a Loan”, that is require immediate
    repayment if they deemed themselves “INSECURE”.

    Without the Fed, in Liquidity Crunches, the only tool available is to Call Loans. Unfortunately
    forcing a business to immediately repay a loan forces that business to require immediate
    payment from its custommers, or forces that business to SELL ASSETS. And guess
    what, when busineses sell Assets, that includes STOCKS and other investments and
    assets!!!! And the collective actions of business in a Credit Crunch lead to falling ASSETTT
    Values, and DEFLATION!!!! All of the selling of assets to raise cash leads to deflation of
    asset values and a deep recessionary spiral which feeds on itself.

    The problem is not the FED so much as it is Fiscal Policy which is out of control,
    horrendous deficit spending, and a Fed which does not exercise its independence
    and is in bed with an out of control Federal Government with NO FISCAL Dicipline.
    The Treasury issues the Debt to finance huge out of control Deficits, and the banks buy
    the Treasurys Debt, which they then sell to the Fed. If the Fed wouldn’t buy the banks
    T-Bills, which the banks bought from the Treasury, the banks wouldn’t be able to
    keep the merry go round going!!!!!

    The speculation is, nothing but enabling reckless Fiscal Policy. The Banks are
    doing nothing but arbitrage with government debt bought with borrowed money
    from the Fed.

  10. Stanley says:

    The job situation doesn’t recover because we’re in a massive technology increase causing massive business efficiency increase. We need a shorter standard work week, say 30 hours. Over 30 hours should require overtime payment. In 1900 the work week was about 50 hours (probably more on farms which included 905 of the population). In 1950 the standard work week was 40 hours due to unions and technology improvement. If we went back to a fifty hour week in 1950 don’t you think that there wouldn’t be enough required work to maintain full employment (about 2-3% in 1950 iirc)

    I don’t disagree with what you’ve proposed but until the national income rate is redistributed we’ll have unemployment until the rate of technology creation slows.

    Pullbacks occur because some entities default and people lose confidence that they’ll be default victims. As you say, as long as the Fed bails everyone out there’s no loss of confidence. There definitely should be leverage limitations maximizing at historical levels where we had a bustling economy (15-20:1 absolute maximum) and the banking system should be restructured per the original Glass-Steagall conditions.

    If you haven’t already, please read for a temporary employment increase scenario.

    • Richard Krokum says:

      Stanley you are a communist who wants the government to control/”own” business and have fools like our current crop of idiots in Congress and this administration cut up the “pie” giving the largest share to themselves and those who support them. Only the free market and the invisible hand of capitalism can decide how to distribute wealth equitably. You know, reward productivity and there is no free lunch.

  11. Duane says:

    Clearly, the Fed needs to go. But how is that accomplished when the Fed is part of the Machine which has the decision makers in government dancing around like puppets under the Machine’s control. Sadly, I believe, only a major financial catastrophe in this country stands a chance of raising the public’s ire to the level that government officials become fearful of losing control of the whole shebang; as in uncontrollable riots. Too bad the public has allowed it to get to this stage and too bad politicians have sold out their fellows and country.

  12. Rod Schoenmaker says:

    My dad has been saying that for years. It’s a shame you and dad could not have met before he passed away. If the TBTF banks can not fail does that mean the economy can not fail? Boy is this world in for a surprise.

  13. Alberto says:

    Hi, thanks for the article I’m reading information like this from different sources but unfortunately I’m not a financial cultured person and it is hard for me to understand how deep this problem of the Feds goes.I can see that savers are in big disadvantage as the rates are ridiculous low to keep savings in a Bank but I read that the money go tho the stocks cause that and this explains why stocks are rising constantly since after the recession ended.However even if this release of money from the Fed is a bad thing for the economy I have the impression that the economy that the numbers reflect like GDP, consumer expending etc it is fictitious, like if these numbers were reflecting large amounts of borrowed money in form of loans, credit cards, etc. that people acquire and expend producing this economic values, in this sense the economy do not depends on the salary the people earn but in the borrowed money they get from banks(could be that possible, that the major amount of money involve in this customer expending is borrowed money more than salary earned money?) then if people lack of this borrowed money the economy collapse, then when the Feds inject more money into the economy(the economy is this bunch of numbers that reflect borrowed money), they improve the economy, but this economy doesn’t exist, it is an abstraction of borrowed money transactions, a cloud of buying and selling with printed paper or credit cards but , is this not what it is all about? then the Feds are stimulating rightfully the bullshit that the economy is because its wrong conception or false economy.During the last recession 2008 to 2010 I never notice a caresty of a product in the market, food clothing, electronics etc then if the economy is in recession how there is no critical shortage of goods?where is the crisis? there is no hunger no lack of supplies at all even for the refined taste, it seems to me that the already achieved production level is stable enough to keep the markets full of goods then what is economic crisis? the variation in the swelled numbers that exist as result of a numeric abstraction that include swelled money liquid into the sell/buy algoritm of the daily life, it is a numeric swell crisis not a real factual caresty of goods. The problem is that because that is a way of living and thinking seems to me that people are ruled by this balance and when the numbers crash they stop being customers or part of the economy and become part of the crash because the numbers do not satisfy the economical balance in which they exist, then everything goes down until the numbers are back in order and in order to achieve that the Feds inflate the bullshit to make it work as bullshit that is and is call economy.Would be possible so see this in the following way: there are two economies, one is the financial cloud mentioned above the other is the simple economy of salaries paid to workers that produce goods to satisfy demand, in some way this two economies have a distance or independency from each other, the financial cloud economy crash before the other one because the volatility or liquidity or its variables but this do not affect in a substantial form the workers economy at least for a while even enough to pass a two or three years recession my question is : could the financial cloud economy be susceptible to crash in such a way that make an inversion of the salary/good production economy? then why? is not the liquid/borrowed money economy satisfied with the easy money circulating? are not people making large amounts of money in the skyrocketing stocks? then the success of the financial cloud economy to generate profits is outstanding, business people should be swell with profits money from the market, then what is the problem now? that people keep the money for themselves and take it out of the economy? do not invest it or pay higher salaries to put it back in circulation? what other reasons exist in the financial cloud economy to think about a collapse or a crash of the dollar?

  14. Bev E. says:

    Shah, thanks for explaining the truth about our banking system and the Federal Reserve. I know you could just retire and take care of yourself and family instead of sharing your insight. I’ll be reading and thinking when I see your articles. Thanks.

  15. Barry N. Peterson says:

    Shah, I wrote to you last week about what may just be a coincidence — JFK’s assassination weeks after he publicly commented that the U.S. would be better off without the Fed.

    To your knowledge, have there been others of greater influence than me (I have some, but not much) who have come ahead with this line of thinking — a Federal Reserve foundation to the assassination of U.S. President John Fitzgerald Kennedy?

  16. ALLAN says:

    Short of a rebellion I cant see it happening. Oh, maybe, the collapse envisaged by Jim Rickards might be the spark, or a catalyst to make the change if ‘the people’ (those not the recipients of hollow point bullets) understand and demand it.

    • Joni says:

      Allan, I agree with your first comment and reference to Jim Rickards. G.E. Griffin’s book on the Federal Reserve is an eye-opener for the American public. Since reading Nomi Prins’ well-researched book, “All the Presidents’ Bankers, The Hidden Alliances That Drive American Power”, I’ve come to think the ‘system’ is too entrenched. This country reminds me of a rudderless ship with a dysfunctional crew.

  17. Bob says:

    Shah, you are 200% correct about the Fed Reserve. As a saver, I have a personal animosity to it and it is my enemy. The investment banks hoodwinked President Wilson into signing this abomination into law. Commenting on the Fed Reserve Act of 1913, in 1919 Wilson stated “I am a most unhappy man….I have unwittingly ruined the nation.” Maybe after the next financial crisis something will be done about the Federal Reserve.

  18. randy says:

    Amen brother. The federal reserve first and then the government. We want the kind of money you have to dig out of the ground. And a government that actually represents the people.


    I agree 100% with Shah Gilani’s statement that there’s no reason for the FED to exist.

    This artificial ‘split’ that exists between our National Treasury and the private Federal Reserve Bank needs to GO.

    Why we have this ‘split’ in how our nation’s currency is created is beyond any rational comprehension.

    Think about it –

    We the People write on a piece of official paper how much currency we want to put into our society to generate production, savings, and prosperity. Then we put on our ‘Treasury Hat’ and walk over to the FED’s office, stand in front of the FED’s desk and put the official ‘Currency Request’ form on it. Then we take off our Treasury Hat, put on our ‘FED Hat’, walk behind the FED desk and stamp our ‘approval’ on the Currency Request form. Then we take off our ‘FED Hat’, walk back around to the front of the FED desk, put our ‘Treasury Hat’ back on, pick up our official ‘Currency Approval’ paper and walk back to our Treasury office while the amount of our currency request gets downloaded into the computer servers of our National Banking system.

    Our entire process of creating our currency is actually done by no one else but We the People.

    We don’t ‘borrow’ our currency from ANY one.

    We CREATE IT – at WILL. We create it when our nation’s economy clearly doesn’t have enough currency to sustain itself in a healthy manner – like NOW.

    The idea that ‘deficits’ are Bad and ‘surpluses’ are Good is STUPID and ILLOGICAL.

    Where’s the MONEY???

    Where do these idiots think our currency comes from? The Moon?

    And WHO exactly do we OWE our currency to? Foreigners? Please – wake up to how our currency is created. We owe NO ONE. The DEBT goes to the BORROWER – the BANKERS, and every other person who has NO WAY to pay back their borrowed currency.

    The idiots in Congress are totally CLUELESS about how our sovereign nation’s monetary system works.

    And the FED likes it that way. The Private Banking system too. This private international banking cartel collects TONS of currency in interest payments thanks to our human needs to live and survive. And we can’t even get a straight answer from them? Or better yet, they us NO!

    NATIONALIZE our banking system. Bring the entire operation under the control of We the People to make loans to solid productive enterprises that support the economic health of our nation and STOP the speculation and gambling games of the PRIVATE banks.

    How DARE they abuse the privileged position (that We the People gave them) as ‘distributors’ of our national currency. It’s alarming to see them use their position for their own private benefit and pleasure.

    We the People are the rightful creators of our currency and the careful watchers over our national, state, and local distribution operations of OUR National Currency Office.

  20. vrose says:

    Steve Forbes recently published book, MONEY explains the destruction of the dollar and why it threatens the global economy and what we can do about it. I like his solution:

    Restoring a Dollar Link to Gold for the 21st Century

    Steve Forbes provides the specific reforms that should be adopted today to establish a modern, 21st century link to gold for the dollar. That new system would not require the federal government to hold any gold stockpiles, and the money supply would not be limited to the availability of any quantity of gold.

    Federal law would fix the dollar’s value in gold at a specified market price. That price would be set by some index to recent market prices for gold, perhaps the average gold price for the last 5 to 10 years, marked up by 10% as a hedge against causing deflation in the process. Federal law would mandate that the Fed conduct its monetary policy to ensure a stable value of the dollar at that market price.

    The Fed would enforce that price through its open market operations buying and selling U.S. government bonds. If the price of gold began wandering in the market above the specified market price, that would signal the threat of inflation, and the Fed would begin tightening monetary policy by selling bonds to the market in return for cash withdrawn from the market. That reduced money supply would hold down price increases in the market, including for gold. The Fed would continue this policy, until the market price for gold returned to its specified target value.

    If the price of gold began wandering in the market below the specified market price, that would signal the threat of deflation. The Fed would then begin loosening monetary policy by printing cash to buy U.S. government bonds in the market. That would increase the money supply, which would tend to increase prices in the marketplace, including for gold. The Fed would continue this policy until the market price for gold returned to its specified target value.

    The Fed would be required by the federal law to take such actions to prevent the price of gold from varying from the target price by more than 1%, which was the range permitted under the Bretton Woods system for currencies to fluctuate against the then gold backed dollar.

    The federal law would provide that this new monetary policy would become effective at a specific date set in the future, perhaps 12 months away, to enable the private economy to plan for and adjust to the new policy. The law should grant the President or some other federal official the power to adjust the target price for gold to reflect more recent market prices as the implementation date approaches. Those more recent market prices would better reflect what the target gold price should be when the dollar is based on this new link to gold. A lesson learned from experience with President Obama, the law should also specify that any member of Congress would have standing to sue the President or other designated official if he or she did not carry out the law regarding this later market based adjustment as provided, and that federal courts would have the power to enforce relief. For example, not following more recent market prices in adjusting the target price would be a violation of the law.

    This would effectively mean that the Fed would no longer have any power to pursue discretionary monetary policies to try to guide the economy in one direction or another. The new federal law would bar the Fed from attempting to manipulate interest rates, for example. The Fed would no longer have the power to set the federal funds rate, which is the rate banks pay to one another to borrow reserves. The Fed would continue to have the power to act as a lender of last resort to deal with financial panics that might temporarily threaten an otherwise sound bank. So the Fed could continue to set the “discount rate” that it would charge for such short term, lender of last resort borrowing. But even that would be required to be set above market rates, so that the Fed would not become a cheap source of funds for banks to borrow to lend out.

    Along with a federal balanced budget amendment to the Constitution, this would effectively make Keynesian economics illegal. That would be highly desirable, because Keynesian economics is proven not to work, and Keynesian advocates are so oblivious to reasoned discussion on the point.

    As a safeguard to help ensure that the Fed did follow its responsibilities under this new law, the law should specify that anyone could turn dollars into the Fed, and get gold at the legally specified target price. If the Fed was following the law, it could always buy gold in the market to pay for such a redemption in return for the target price for gold. If the Fed was not following the law, then it would likely not be able to finance such mandatory redemptions. The new federal gold law should again specify that any member of Congress would have automatic standing to sue the Fed to enforce the law.

    Another safeguard would involve removing all barriers to the rise of private, competing, alternative currencies, to challenge the Fed to enforce and follow the law. That would mean no taxes, including capital gains taxes, could be assessed on sales of gold and silver. If the Fed did not follow the law, then these competing currencies could displace the dollar.

    Such a new gold link to the dollar would be the last, missing component to any comprehensive strategy to restore traditional, world leading, American prosperity. Such a strategy would include as well personal and corporate tax reform to lower tax rates, deregulation of unnecessary regulatory costs and barriers, reduced federal spending to balance the budget and reduce the national debt as a percent of GDP, and free trade. Those policies could be expected to restore long term U.S. economic growth to 4% of GDP, which would leapfrog the American economy another generation ahead of the rest of the world.

    Shah, I would like to hear your views on this.

  21. Tony says:

    Shah this article shifted who’s to blame for America’s demise, from elected official to the FED to the TBTF banks.OK so lets do something about it. Instead of taking our money out of the stock market (only) we should also take our money out of those TBTF banks and put it in smaller state banks. That should get the ball rolling. Can you provide your readers with the names of the TBTF banks and the quality state banks???

  22. Richard Clifford says:

    Shah, I was delighted to read you views. The problem is when you have got rid of the Fed what do you replace it with ? and how would it function differently ?

    There are many ideas posted on the web, mostly involving printing money with serious precautions to prevent inflation. This would mean supplying sufficient money to mop up unemployment without the need to pay interest.

    I am an unqualified ancient (89 years old) citizen from Australia and I have written a pamphlet giving three systems that have been used in the past, and several systems that are ready to be enacted in Washington or any legislature.

    Yours, Dick C.

  23. Michael Allen says:

    Too many people with their hands out.The poor have been brainwashed to truly believe they cannot survive without the handouts.A stratagy used to accuire votes while they line their own pockets.From the President ,down to local governments.Everyone is unwilling to give up anything willfully.So it will take a crash of the entire system before things can be corrected.They are all to greedy.They want us to pay for their retiremant and benefits after only one year in office.that is wrong.Should not get a retirement at all once out of office.go back to your old job,work 40 years and then get the same small retirement the average citizen gets.Should not have to wear a $1000.00 suit or dress to represent the citizens of this country.

  24. Richard Waldren says:

    And lets remember that the Federal Reserve doesn’t have crap to do with the federal govt. It is all private enterprise!

  25. Allen Atkinson says:

    1] TBTF Managers “cook the books” and generate scams to make themselves big bonuses.
    2] Bank fails, gets “helping hand” from Govt.
    3] “Regulator” is forced to review process and levies fine and hand slapping exercise.
    4] Share holders pay fine, crooks go free and accumulate further bonuses.
    5] Find deterrent to perpetrator of the fraud and benefit to the VICTIM i.e.”business owner” i.e. shareholder.

  26. Bradley James says:

    The sad truth is the Federal reserve system has already killed America.
    JFK was putting the brakes on the Fed , the military industrial complex and said no to giving Israel nukes. And they killed him .
    Who is they ? At this point it is not that hard to figure out. We are JFK’s legacy . Stand up and fight.

  27. Robert says:

    You remind me of Harry Turman’s saying “I don’t give them hell, I just tell the truth and they think it’s hell.”
    Please keep the truth coming as it is refreshing as hell to hear it.

  28. Brian Clayton says:

    Your right, of course, Shah, about the Fed. Trouble is, there is no practical resolution to the problem. No one in power has the integrity or strength of character to do what’s right for the country. ( I believe that Mitt Romney has the strength, despite some of the reservations that many have about him). Our current crop of politicians only does what is right for themselves and the hell with everyone else. To try to get something on a national ballot is a joke. Most of the voting citizenry hasn’t got the brains they were born with and the majority are also on the dole in one form or another. No incentive to change.

    This is likely going to end in a fight of massive proportions. I worry for my kids and grandkids. What a legacy we are handing down to them. Clean your guns my brothers. We’re going to need them.

  29. tracey riley says:

    One way to hit the big banks is NOT to deposit your money into them and NOT to have your accounts there. My bank is a state bank and I only use BA, Wells Fargo etc for credit cards – which I pay off in full every month.

  30. Karl B says:

    I believe we would first have to throw off this government and start anew. We are all as citizens obligated to do so according to the United States Constitution.

    People of course will never do it. But it would help get the country on track again. Cleaning house. Then having a entirely fresh start of it.

  31. Michael Barrett says:


    You are right on the money.

    Stick with this line of discussion. I have been calling for the repeal and removal of the FED from existence for many years.

    It’s amazing that so few people are actually aware how monetary systems actually function.

    I think it’s time to get back into the anti-trust arena too.

    Only real solution is to hire an entirely new House and Senate – starting with the Senate.

    We have to get corporations and banks out of the pockets of OUR REPRESENTATIVES permanently.

    Nice post.



  32. Tom says:

    You have identified the problem, what is the solution ? I have read comments on everything from revolution to money under the mattress rhetoric. What is the solution people ? As the saying goes, ‘if we are not a part of the solution, then we are a part of the problem’
    We need a grass roots movement to kick some politicos a** and take our country back, but most of all we need leaders. We have way too many followers.

  33. Don says:

    Brilliant! – long over due to end this parasitic entity. For the rich, by the rich to make them richer.

    That said, Kennedy was going to try and look what happened to him.

  34. Michelle Haisley says:

    I can’t believe how blind the American people really are; if we don’t come together as a people before you know it, the very dangerous game the Fed and Wall Street are playing will give the radicals and the communist the opportunity they’ve been waiting for. Without starting a 3rd world war, they will waltz in and take over our economy. It’s happening every day we allow the corrupt, manipulating, Fed and Wall Street to continue sending our economy into an out of control downward spiral. We need to get Congress out of their pockets by electing new officials and letting the government know we’re tired of politics as usual. Shorten their terms so they don’t get to comfortable, if you can’t accomplish anything in 4 years odds are you never will. Time to wake up America and really pay attention to how bad things really are, enough is enough already.

  35. michael oneil says:

    I am in no dought that JFK was going to make big changes not only to the FED,but to secret sociates, so he paid the ultimate price,for trying to do what is right for his country, What would America be like,if FDR,got his way with his Second Bill of Rights !!

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