Mother Bakes a Cake:

Janet Yellen and the Feds raised the interest rates again. After crying the rate hike wolf for nearly a year, she finally raised rates by another quarter point while promising more hikes to come in 2017. Rates weren’t raised sooner because they probably wanted to protect the stock market under Obama. The Fed protects their own because they want globalism and collectivism. That means most Americans get poorer while the central bankers and their elite friends get stupendously richer. 

Quantitative easing never ended, it simply went underground. The Fed does as it pleases. There is no accountability—not really. The stock market bubble was pumped up to insane proportions without benefitting citizens who can’t afford stocks. Over 50 percent of Americans are now living paycheck to paycheck. (If they can get a paycheck). The perma-bull market has mostly benefited the global corporations and central bankers who own most of the stock market. The elite prints money for themselves—to hell with lending it out to small businesses and entrepreneurs. Meanwhile, they claim a perpetually rising stock market as ‘proof’ that Obama is doing a great job.

Wrong. Mr. 'Hope and Change' helped drive up the debt by nearly 10 trillion dollars while telling everyone the economy was improving and happy days were here again. Obama’s so-called strong economy is based on data distorted by the government itself. It has been based on lies. The employment numbers do not count those who have given up. Too many workers are stuck in low-wage service jobs. The GDP number always comes in high with great hoopla and then it is quietly downgraded. Housing starts are bad. Few can afford a home even with low rates. College grads are burdened with outrageous debt because colleges and banks colluded to get richer. The bankers sell the future in order to immediately pocket their ill-gotten gains, which means young people can’t find work and must move back in with their parents. Real wages haven’t risen in decades. Inflation is apparent at supermarkets. Prices go up while packages get smaller. 

Regardless, Yellen and those running the show must pretend that everything is A-OK and improving. That means they must prove it by raising rates. To keep the bankers afloat they really should be going to negative interest rates, but they know that would attract the torch and pitchfork crowd. Instead, they are trying to make their ivory tower game of make believe a reality. 

The problem with this is the debt. Every time the rates are raised, it will make that debt that much more difficult to service. Consider this—if you had $50,000 in credit card debt at a zero percent interest rate, you may be able to manage it. However, rising rates means you must sell things to make the payment. Stocks, for example. Raising interest rates could collapse the stock market. Perhaps this is their real goal—they want to blow things up so they can blame it on Trump.

Janet Yellen thinks it’s extremely important to protect the Fed’s “Independence.” Of course she does. They don’t want the scrutiny of an audit. They don’t want to answer to We the People. When Fed chairmen speak to Congress, they use grandiose language to prove how smart they are. They aren’t. They’re con artists. The Federal Reserve was created out of conspiracy, and now those private bankers want to protect their private printing press which not only prints up debt currency out of thin air—it also prints up power. They’re able to buy out politicians and the corporate media.

It’s time to end the Fed and return the power of money creation and its management back to Congress as stated in our Constitution. 

Ben Garrison

Rate Hike: Crying Wolf

Lew Rockwell writes,

 "Once again the Fed’s bite has failed to live up to its bark. Despite months of expectations that it would finally raise rates for the first time since 2006, the Fed continued to sit on its hands while pointing to some unspecified date in the future when all the economic and financial stars will align in a way that makes a 25 basis point increase appropriate. Am I the only one getting bored by the repetition?”

 https://www.lewrockwell.com/2015/09/peter-schiff/the-weak-and-utterly-dependent-economy/

No, Lew, you aren’t the only one. I’ve been following their farce for quite a while. The Fed keeps barking about a rate hike wolf, but that’s all it is—barking. If the rate hike cycle DID return, the wolf would blow down the Fed pigs' house of straw. There’s simply way too much debt built up and rising rates would make that debt worse. It would crash the economy still further.

Savers are desperate to get some kind of return on their money. They get a fraction of a percentage while at the same banks gouge people with an average of 18 percent on their credit cards. The banks create money out of thin air due to fractional reserve banking and the people get the shaft. And before you tell me it’s the peoples’ fault for getting in credit card debt to start with, let me say many can’t find a job and if they can it’s part time and/or close to minimum wage. The under 5% employment the Fed brags about? More smoke and mirrors and data distortion. In other words, they’re lying. The economy is not humming along, or they would have raised interest rates years ago.

A record number of years at zero interest rates has not helped the economy. It has only helped the the super rich get more rich. Besides, if things are so rosy as the Fed tells us, why the perpetual ‘emergency’ zero rate position? The Fed continues to lie about economic data to help prop up their market and to pretend they’re ‘in control.’ They’re losing control and they have no more ammo. They have no leverage. They no longer have any credibility. They can’t lower rates without raising them first. They’re pushing on a string. They’re kicking a can down the road. They want to keep their corrupt casino game going for as long as possible. It’s a game that benefits an elite at the top while impoverishing the middle class.

 Yellen even talked about sparking inflation. This is clearly against the Federal Reserve Act and when the Fed says its inflation goal is 2 percent annually they’re really saying, “If you save $10,000 today, we want it to be worth $9,800 at the end of the year. The missing $200 is theft. Quoting Karl Deninger, "It is a giant middle finger erected toward every person in this nation and has stolen trillions of dollars of your, my, and everyone else's money over the last 100 years.” 

 http://market-ticker.org/akcs-www?post=230679

The Fed’s mandate is to keep money stable. Instead, since the Fed got established just over 100 years ago, they devalued the dollar 98%. They installed a gestapo-IRS to intimidate Americans. The IRS is the real wolf in this situation. The Fed also created booms and busts instead of preventing them. The Fed is an abject failure.

 It’s time to end the destructive sham known as the Federal Reserve along with the pernicious IRS. Return the oversight of money to Congress where it belongs. —Ben Garrison