Monday, December 8, 2008

The Fraud-eral Reserve

The Blog of Walker quotes Doug French, via the Mises Institute, thusly:

"In response to the meltdown of financial institutions, unprecedented power has been unleashed by the federal government. Between actions by the Federal Reserve, [emphasis mine] the TARP, guarantees made by the FDIC, and other direct bailouts, the total comes to nearly $8 trillion. That's over 30 times the inflation-adjusted cost of the S&L bailout, according to Bianco Research."

Well, guess what. The Federal Reserve is not -- and never was -- a legal government entity. It is a BANK. And what a mutha-lovin', money-scamming bank it is. (Along with the International Monetary Fund and the World Bank.)

Please watch this for an education on just why we're in the mess we're in.