Just one in 10 American adults is opposed to auditing the shadowy Federal Reserve, with an overwhelming 74 percent supporting an audit of the controversial central bank, according to a new poll released by Rasmussen. While the banking cartel-run institution has hired lobbyists and unleashed various gimmicks to improve its image and protect its cloak of secrecy from Congress and the public, it appears increasingly clear that the people see through the charade. Now, the question is whether lawmakers will side with the establishment to protect the Fed, or with the American public and their demands for transparency.
The left-leaning Brookings Institution admitted in an October 31 report that the Obama administration's “Cash for Clunkers” program was an almost complete waste of billions of taxpayer dollars. The report concluded that the 2009 subsidy for new car buyers had no measurable long-term impact on economic growth and cost $1.4 million for every “job-year” that was created under the program.
Janet Yellen, President Obama's choice to succeed Federal Reserve Chairman Ben Bernanke next year, is among a number of influential economists who would welcome a higher rate of inflation to boost a stagnant economy and reduce unemployment.
Recent comments by the head of the Bank of England, the U.K.’s powerful central bank, offered further evidence that Western central bankers are preparing to shower even greater quantities of fiat currency on private banks and financial institutions — all at public expense. Already, tens of trillions of dollars’ worth of debt-based currency has been created out of thin air by the Federal Reserve, the BoE, the European Central Bank, and other central banks to prop up private mega-banks and wild spending sprees by government amid the economic crisis. With help and guidance from the BoE’s new governor, Mark Carney, analysts say all of that is set to accelerate.
A controversial report released this month by the International Monetary Fund outlines schemes to have big-spending governments with out-of-control debts plunder humanity’s wealth using a mix of much higher taxes and outright confiscation. The goal: prop up Big Government. Because people and their assets are generally mobile, the radical IMF document, dubbed “Taxing Times,” also proposes measures to prevent them from escaping before they can be fleeced. Of course, the real problems — debt-based fiat currency, lawless bank bailouts, and a cartel-run monetary system — are virtually ignored.
From establishment mouthpieces in the West to the brutal Communist Chinese regime’s propaganda outlets in the East, discussion and even brazen calls for ending the U.S. dollar’s (USD) prized status as the global reserve currency are increasingly coming out in the open.
Despite the so-called shutdown, President Obama is pushing for a quick wrap-up of Trans-Pacific Partnership (TPP) negotiations.
International Monetary Fund chief Christine Lagarde called central bankers “heroes of the global financial crisis,” warned against slowing funny money “stimulus”
Tom Eddlem, writer for The New American, gives a contrast between Australia's economy and that of the United States, covering such factors as national debt, savings, and interest rates.