The Most Dangerous Man in America

 

 

The Federal Reserve is a private bank, not part of the U.S. government as many people think. Yet it has a major impact upon the economy of the United States. It operates somewhat mysteriously and independently and its workings are subject to little scrutiny by the U.S. Congress and the American people. The present head of the Federal Reserve, Ben Bernanke, is driving the economy of America to ruin.

He is driving the economy to ruin in two principle ways. First, he is artificially suppressing interest rates down to near zero and not dealing with the reality of the existing economy. It is like squashing down a water balloon further and further until it bursts. It is hiding reality. Justified lower interest rates can be good for the economy since they ease debt burden while also stimulating investment. But they should never be dramatically and artificially suppressed in order to hide a problem and that is exactly what Bernanke is doing.

This also has a major negative impact upon the middle class and retired people since they benefit little from their life savings. In fact, people on fixed incomes are experiencing an effective decline in income since real inflation is much higher than being reported. Food costs have skyrocketed in the last few years, as well as most necessary items and living expenses. Healthcare costs are climbing as are taxes, hidden taxes, and fees...and government leaders are pushing for even higher taxes! Since there is much less "free money" from savings and much higher costs, less money is being poured into the economy. Still another very serious issue is that by dramatically suppressing interest rates the margin of profit for small banks is squeezed significantly on their various loans. This makes them susceptible to being swallowed up by much larger banks, and this is exactly what we are seeing throughout the country. The steady decline of local community banks is not good for America. It is becoming that the entire banking industry is in the hands of a few.

The second move by Bernanke and the Federal Reserve that is very alarming is the printing of money at the rate of $85 billion per month....flooding the market with paper money with nothing to back it up. This is at the rate of over $ 1 trillion per year! The excuse given is to "stimulate the economy" yet it will result in a massive decline of the value of the dollar and will have just the opposite effect.

If you artificially and significantly depress interest rates; flood the market with a massive amount of paper money with nothing to back it up; and combine this with real and significant inflation ... what it costs the average person to live by...this will result in super inflation. We are currently on an out of control speeding freight train for this to happen. It will impact late 2013, and at the latest the first quarter of 2014. The value of the dollar will be so low, while prices of food and necessary goods to live by will be so high that people will be pushed into a state of utter poverty, not able to sustain themselves and their families. This will happen seemingly overnight and place Americans into a state of shock.

Bernanke and the Federal Reserve, essentially unchecked, have the United States headed toward the economic ruin of America. For this reason, he is one of the most dangerous men in America. Members of Congress, and the American people need to wake up before it is too late. All the warning signs are right there before us.