Every month, rise or shine, the Federal Reserve Bank, an institution that most Americans believe is a branch of government, or a federally run Central Bank has one of its computers add $55 billion—that’s dollars with a B—to its ledger and balance sheet.
In actual fact, the FED, as its known is actually a private institution in government trappings, owned by, and run by, the very banks it is thought to regulate. It actually has kept the economy afloat since August 2007 when the financial crisis began (not 2008 as most media outlets have it with a printing press with an infusion of $3.4 TRILLION.
At first, the Fed’s Economics Professor turned Bank president, Ben Bernanke was called “Heliopter Ben” in an allusion to all the money he was bombing the economy with His term ended, but the practice, now barely questioned, goes on.
And why is that? To put it simply, the financial crisis is still with us, whatever talk there is of “recovery” because of structural realities that haven’t changed.… Read the rest