Thanks to Congressman Ron Paul’s persistent calls for auditing the FED, and FED transparency, the Federal Reserve today reluctantly disclosed the roster of names of institutions it had made loans to. It was not a pretty picture.
For not only had the FED loaned money to U.S. banks, as one would have imagined the FED should be limited to by common sense and by law, but it had also loaned money to McDonalds, hedge funds, and even foreign Swiss banks, as well as a massive loan to Pimco, which obviously undermines the validity in the minds of investors of any pronunciamentos coming from the famous names at that company. Bloomberg News even mentions a loan to an individual, Michael Dell.
Quite apart from the unfairness of this process, and the massive danger this precedent creates for the future of Capitalism in America, since now any Socialist government in America can merely call on its FED to restore “order to the markets” by massively intervening to produce profits for those companies given the blessing of any future Communistic or Fascist regime, this proposal is also a slap in the face to American Vegetarians and Vegans, as well as the Hindu-American Community, who are being forced, through the FED, to support a company which they feel great moral revulsion towards, and which they ardently hope will go belly-up. They may even intentionally boycott all the non-meat products of this company, in order not to give it any profits whatsoever, and thus hasten its demise. But here comes the Federal Reserve, bailing out one of the cruelest and most ecologically-destructive companies in America (in Silverwolf’s opinion) against the moral values of those who are forced, through their taxes, to supply the money the FED throws at these companies. This is all deeply immoral, and totally contrary to the concept of Government which Thomas Jefferson held. Just as we need a complete separation of Church and State, so we also need a complete separation of Economy and State, with the one exception of when people are actually starving in the streets.
Those who thought that Congressman Ron Paul’s warnings against Federal Reserve shenanigans were a little extreme, are finding out that they were not extreme at all, but highly accurate, once again showing that Congressman Paul is probably the wisest Congressman in the Congress, in terms of his grasp of economics, American history, and political theory. Virtually all the politicians in Congress are just that: brainwashed and lazy politicians who are working for their lobbyists and their own bank accounts and retirement funds; very few have the energy to study and come to understand the three subjects which a great American statesman must master: economics (and not the Keynesian kind), American history, and Jeffersonian political theory. Virtually everything Congressman Paul had predicted for the Obama years has come true, with the exception of the collapse of the dollar. And that may still occur.
Whether you feel the FED should be abolished, like the Austrian School of Economics and the Mises Institute do, or whether you are a Keynesian who things the FED just needs to be “reformed”, you must acknowledge the outrageousness and danger of what the FED did with these loans. After looking at the roster, we can all commiserate much more fully with Congressman Paul’s repeated warnings.
And the Federal Reserve owes Hindu-Americans an apology.
Hoooooooooooooooooooooooowwwwww! — Silverwolf