This is going to be a very controversial post.
Some people will hate it and accuse us of exaggeration.
But the problem is that I don’t think we are exaggerating at all.
As a matter of fact, we think we are being overly polite.
Since 1913 when the Federal Reserve was created the U.S. dollar has lost 98% of its purchasing power.
A horrifying statistic if there ever was one. Yet in spite of this ridiculous track record their propaganda
positions themselves as experts.
If someone loses 98% of your savings, how in the world are they an expert?
The Federal Reserve was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. Prior to the creation of the Federal Reserve, the United States did not have a central banking system. TODAY, the Federal Reserve is responsible for conducting monetary policy, supervising and regulating banks, and providing financial services to depository institutions and the federal government. The Federal Reserve is widely considered to be the most powerful financial institution in the world.
But here is my question.
And this is not hyperbole.
What is the difference between the Federal Reserve and disgraced fraudster Bernie Madoff?
Stop and really think about the question before you dismiss it.
Bernard “Bernie” Madoff was an American financier who ran a multibillion-dollar Ponzi scheme. A Ponzi scheme is an illegal investment scheme where money from new investors is used to pay returns to earlier investors, giving the appearance of profitability. It is believed that investors invested around $64 billion with Madoff.
Early investors were usually paid back their principal plus an artificially high rate of return which attracted more investments. New investors’ money was used to pay the earlier ones until eventually, there wasn’t enough money to cover all withdrawals and the scheme unraveled. Many people lost their life savings, ruined their businesses, and charities were also defrauded by Madoff’s pyramid scheme. Bernie Madoff is currently serving 150 years in federal prison and will likely die in jail. Approximately $13 billion of the lost money has been recovered and returned to investors.
The point I am making is that regulators have at least returned 20% to Madoffs investors.
With the Fed – the value of your savings has evaporated forever!
Fans of the Fed feel this comparison is unfair.
Why? After all they have been in charge of the currency for 109 years and it has lost 98% of its purchasing power.
Instead of Buying into the Fed’s Propaganda Learn How to Protect Your Purchasing Power.
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