Mises Institute: There’s an idea rooted among some libertarians that the Federal Reserve was originally a sound institution but has grown corrupt. As a bankers’ bank, it was fine, they believe, but not as the monster it has grown to be. If we could only go back to the Fed’s founding charter, all would be well.
I’m thinking of two well-known financial analysts who are unsurpassed in their analytical brilliance and knowledge of markets and who rightly regard the bureaucratic Federal Open Market Committee (FOMC) as the father of bubbles, busts, stagnation, and market privilege. In their articles, Peter Schiff and David Stockman hammer the Fed relentlessly and rightfully for its cluelessness, corruption, and threat to our material and spiritual well-being. They have authored engaging bestsellers on the state of the economy and place blame where it belongs, on the monetary policies of the Federal Reserve.
Yet, strangely, their recommendations stop short of eradicating the cancer altogether. They want the Fed reformed, not abolished. In each case they believe the Fed in its infancy was an institution compatible with free markets. Peter Schiff writes:
The role of a central bank is limited: to control the currency so as to keep prices and interest rates fairly stable. . . . This sort of central bank is one I could have supported. But the Federal Reserve Bank of the United States never functioned this way, and it probably was never meant to. . . . We never should have trusted the Fed to respect its boundaries.
The ultimate destroyer of the U.S. dollar was the Federal Reserve System, which was supposed to be the guardian of the currency… the original idea of the Fed was a good one: providing a uniform currency backed by gold.
In The Great Deformation, David Stockman tells us that “the Federal Reserve System, therefore, was intended to be a ‘banker’s bank,’ not an agent of national economic management. This founding charter has been literally blotted out of modern day discussions.” Read More …
Opinion: Mises Institute publishes some of the best financial analysis available, yet quoting their own words “yet, strangely, their recommendations stop short” leaves me wondering why 3 esteemed financial analysts failed to mention the coming central bank digital dollar. If the writer is correct about the Fed being corrupt, and I believe he is, imagine what it will be like when they have full and complete control over how money is spent.
I am not sure why central bank digital dollar is being ignored by these analysts, but when it comes, things will change abruptly.
“They will throw their silver into the streets, And their gold will be like refuse;
Their silver and their gold will not be able to deliver them In the day of the wrath of the Lord” Ezekiel 7:19.
Order of judgments:
The 3rd Seal Judgment of Revelation 6:5-6 begins an economic crisis of hyperinflation in the first 3 1/2 years of the 7 year tribulation. Between then and the mid-way point, are 4 more Seal Judgments and 7 Trumpet Judgments.
“For then there will be great tribulation, such as has not been since the beginning of the world until this time, no, nor ever shall be.” Matthew 24:21
Antichrist is identified as the ‘Beast’ in Revelation 13:1. He is indwelt by Satan in Revelation 13:4, and the False Prophet, a powerful religious figure, joins the evil trinity in Revelation 13:11 as the most severe Bowl Judgments commence.
That is when the Mark of the Beast (Revelation 13:16-17) will be required for all, great and small, rich and poor.
Preparations are in the works.