04/19/2017

Now Is The Time To Pass Audit The Fed

Ron and Rand Paul, Rare

As presidents and Congresses come and go, the addiction to busting the budget remains; its voraciousness fueled by the same enabler, the Federal Reserve.

While it took our nation more than 225 years to accumulate nearly $20 trillion in debt (and much, much more if you factor in unfunded liabilities), our central bank can put Americans on the hook for trillions without blinking by simply creating whatever funds it needs out of thin air. Its status as “the lender of last resort” signs a blank check for politicians to spend to their heart’s content without worrying about the immediate consequences.

When pressed to at least provide some measure of substantive transparency for its actions, the Fed tells the American people it’s none of their business.

We disagree.

Time and again, we have been asked to justify our desire to Audit the Fed. Time and again, we answer, how can we afford not to?

Though one of the Fed’s mandates is to keep prices stable, a trip to the grocery store is enough to prove its failure. The Minneapolis Federal Reserve Bank’s own website hosts a calculator that reveals that what would have cost you $1 in 1913 would now require $24.

We may chuckle when parents and grandparents tell children about the “good ol’ days” of lower prices, but the massive decline in the dollar’s value is no laughing matter for seniors whose supposed safety nests don’t stretch as far as they used to, or for frugal consumers who are punished for saving for rainy days. Politicians pile debt onto future generations’ backs, and the Federal Reserve makes sure they can’t ever hope to pay for it.

Read full article



You May Also Like:

Reports: Kushner Had Multiple Undisclosed Conversations With Kislyak, Discussed "Back Channel" Comms Jennifer Van Laar, Townhall

The Real Reason Zuckerberg Supports A Universal Basic Income TDB, Zero Hedge

Obama Administration Transferred MS-13 Gang Members To Placement Centers Across The Country Warren Mass, New American

Poland Stands Up To EU On Forced Quotas: We’re Not Taking Your Migrants – Your Blackmail Won’t Work On Us Damien Cowley, The Gateway Pundit

Progressively Bankrupt Richard A. Epstein, Hoover Institution

Obama Attempts Government In Exile Wesley Pruden, The Washington Times

Report: Insurance Rates Could Skyrocket Under Border Adjustment Tax Americans For Prosperity

Memo To CBO: Obamacare Is Unsustainable Charles Hughes, Economics21

Paid Parental Leave Proposal Increases The Cost Of Employment And Burdens States Trey Kovacs, Competitive Enterprise Institute

LEFTISTS SILENT: CBO Confirms Repeal Of Obamacare SAVES BILLIONS Kelly Beasley, The BlackSphere

No, CEOs Don't Make 347 Times More Than American Workers Luka Ladan, Washington Examiner

Don’t Just Blame Sean Hannity For The Seth Rich Conspiracy Theory Robert Tracinski, The Federalist

Obama Lectures Trump Over Walls, Builds One Around D.C. Home Edmund Kozak, PoliZette

Confederate Monuments And Civil Discourse William Watkins, Independent Institute

For More go to the Home Page >>>

Search

Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

In Search Of History

Cambodia's Deadly Experiment

In the 1950s, students started gathering in Paris. They were reading Karl Marx. They were forming book clubs. They were trying to come up with a better version of society. One that moved away from the division of labor. One that moved away from the capitalism in the big cities that they so despised. ... One of those students would change his name to Pol Pot. He and his colleagues formed a new political party, a takeover in Cambodia. They called themsevles the Khmer Rouge. ... Under Pol Pot and the Khmer Rouge, one out of four people in that country died in less than four years. 

-- Matt Kibbe,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.4%
    FreeMarket Central Shadow Stats: 22.1%
  • Inflation:
    FreeMarket Central April Year-to-Year: 2.20% (CPI-U*)
    FreeMarket Central Shadow Stats: 10.0%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]