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Media Begin Orchestrating the Celebration: the FED’s 100th Birthday

Written by Gary North on September 23, 2013

We are beginning to see a coordinated media celebration of the Federal Reserve System. This is in preparation for the 100th anniversary of its creation just before the Christmas holidays in 1913, when the bill was passed by a handful of Senators and signed into law within two hours by President Wilson.

The Establishment media’s objective with this media blitz is clear: to praise the FED’s independence from the federal government, despite the fact that it possesses federal sovereignty. No other organization possesses federal sovereignty, yet is beyond federal control. It is unique in this respect.

There is never any mention of the fact that, according to economic textbook definitions, the FED is a government-created cartel. There is no reference to the fact that it is a banking cartel. Instead, it is described as an agency for regulating banking, meaning the largest dozen banks.

In a Yahoo! article we read this. The title tells all: How the Federal Reserve Safeguards the Financial System.

It has been said that behind the President of the United States, the chairman of the Federal Reserve is one of the most powerful people in Washington, if not the world. While other institutions may be older, when it comes to raw power and impact, few can match the scope and clout of the country’s 100 year-old central bank.

It admits that the FED chair has power. The FED has power.

It begins, not at the bottom — fractional reserve banking — but with the Federal Reserve Act.

What is the Federal Reserve System and why does it exist?

Created by the Federal Reserve Act of 1913, the Fed, as it’s known, has evolved and grown over the years but its primary structure, role and objective remains the same. Based in Washington but also represented nationally via a dozen regional reserve banks, the Fed’s primary job is to ensure that our monetary and financial system are safe, flexible and stable.

There is no mention of the fact that, under the FED, prices have risen by over 20 to one.

To do so, the central bank focuses on four general areas: the supervision and regulation of banks, the administration of monetary policy, mitigating risk and crisis, and providing payment services to commercial banks, the government and official foreign institutions.

This is a standard textbook survey. There is no reference to the fact that the Federal Reserve is a banking cartel.

How does the Fed work?

The Fed is overseen by a seven-member Board of Governors, which is headed by a chairman (currently Ben Bernanke) who is appointed by the President every four years, as well as the presidents of the twelve regional banks who are responsible for activity in their districts.

In addition, the Fed conducts monetary policy via a group called the Federal Open Market Committee (or the FOMC) which exists to create conditions that will result in full employment while making sure prices (or inflation) remain stable, two objectives that often seem to conflict each other. Achieving this so-called dual mandate is not easy and the FOMC’s primary tool to achieve it is to raise or lower interest rates.

The Fed is also charged with overseeing billions of daily payment transactions, ensuring the safety and stability of the system, and in rare times of crisis, serving as “the lender of last resort” to keep markets moving and liquid.

This is straight out of the Federal Reserve’s own self-puffery. No other government agency receives such criticism-free praise.

What does the Fed do?

In addition to its day-to-day oversight and monitoring activities, the FOMC meets eight times a year to assess the current state of the economy and financial system. A statement is made afterwards that outlines its current thinking and any actions that were taken or concerns that were raised. The Fed chairman also appears regularly before Congress to explain the board’s thinking and address lawmaker’s concerns. Additionally, current chairman Bernanke holds a quarterly press conference to answer questions for financial media.

So ends the article.

In short, this is sheer public relations propaganda, as issued by the Federal Reserve.

Continue Reading on finance.yahoo.com

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2 thoughts on “Media Begin Orchestrating the Celebration: the FED’s 100th Birthday

  1. The Fed controls the US Feral Pols and their government. The people are reduced to serfs in what was their own country. Ah the "Progress" always "Forward" comrades.

    "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
    Thomas Jefferson

  2. Victor Barney says:

    The official END of our Republic, piled on by FDR & all the Democrats(Marxist's) that followed, EXCEPT, John Kennedy & his brother, Bob, which really is why they both had to be killed! Everything else were just smoke screams! Wake-up Anglo-Saxon WOMEN! The Anglo-Saxon men for the most part KNOW THIS, but are powerless to STOP this final completion of the FIRST-BORN BLOOD COVENANT OF DEATH made 6,000 years ago, that got us thrown out of Eden!