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#Federal Reserve
robertreich · 5 days ago
Video
How Unaccountable Institutions are Shaping Your Life
Three centers of power increasingly dominate our lives, but are less and less accountable: The Supreme Court, the Federal Reserve, and Big Tech. 
The Supreme Court
Start with the high court. These nine unelected individuals – all appointed for life – are about to revolutionize America in ways the majority of Americans don’t want. This court is poised to overturn Roe v. Wade, the 1973 reproductive rights ruling; declare a century-old New York law against carrying firearms unconstitutional; and strip federal agencies such as the Environmental Protection Agency of the power to regulate private businesses. And much more.
Let me remind you that five of the current justices were put there by presidents who lost the popular vote in their first election. Only 40 percent of the public now approves of the Supreme Court’s performance, a new low. Yet because justices are appointed for life, its members are immune to checks and balances, no matter how unpopular their rulings may be.
The Federal Reserve
The Federal Reserve is almost as unaccountable as the high court.
Presidents appoint Fed chairs for 4-year terms, but tend to stick with them longer for fear of rattling Wall Street, which wants stability and fat profits. (Alan Greenspan, a Reagan appointee, lasted almost 20 years, surviving two Bushes and Bill Clinton). President Biden has just reappointed Jerome Powell, the current Fed chair, for example. 
Because it sets interest rates and regulates finance, the Fed can either keep the economy going near full employment or put millions of people out of work. Powell has kept interest rates near zero —appropriate for an economy still suffering the ravages of the pandemic.
But he has also bailed out America’s biggest corporations by taking on their junk debt, which they then used to buy back their own stock to the benefit of their CEOs and major investors. And he’s allowed Wall Street to go back to risky betting—prompting Senator Elizabeth Warren to say this:
Warren: “Your record gives me grave concern. Over and over you have acted to make our banking system less safe, and that makes you a dangerous man to head up the fed.
Big Tech
Lastly, Amazon, Google, Apple, and Facebook all wield enormous power over our lives, and they too are unaccountable to the public good. They’re taking on roles that once belonged to the government, whether it’s blasting into space or running cybersecurity.
And their decisions about which demagogues are allowed to communicate with the public and what lies they’re allowed to spew have profound consequences for whether democracy or authoritarianism prevails.
Worst of all, they’re sowing hate and division. As Frances Haugen, a former data scientist at Facebook, revealed, Facebook’s algorithm is designed to choose content that will make users angry. Why? Anger generates the most engagement — and user engagement turns into ad dollars. (The same is likely true of the algorithms used by Google, Amazon, and Apple.)
And yet, decisions at these companies are accountable only to their shareholders, not the public.
Beware. Democracy depends on accountability. If abuses of power go unchallenged, those who wield power will continue to consolidate it. It's a vicious cycle that erodes faith in democracy and breeds cynicism.
So how do we break the cycle and hold these power centers accountable?
Rotate Supreme Court justices with appellate judges and add more justices to the Court.
Demand transparency from the Fed, and have an open debate on who should run it instead of letting Wall Street effectively decide.
And finally, treat Big Tech companies as public utilities and regulate them, or break them up.
I’ll be honest. It will take vast amounts of public pressure and intentional organizing to get these solutions enacted.
Our only option is to turn up the pressure and keep fighting for our democracy.
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southerngentry · a month ago
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Wow!  Imagine That! <sarc>
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politishaun · 5 days ago
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Sen. Elizabeth Warren (D-Mass.) has once again indicated her opposition to Jerome Powell's renomination for chair of the Federal Reserve, an annoucement arriving on the heels of President Biden's decision to tap the Republican for another term. The progressive Democrat also said she plans to vote against Powell in the Senate.
"It's no secret I oppose Chair Jerome Powell's renomination, and I will vote against him," wrote Warren in a statement released on Twitter. "Powell's failures on regulation, climate, and ethics make the still-vacant position of Vice Chair of Supervision critically important." Warren did note, however, that she supports Biden's nomination of current Fed Governor Lael Brainard to Vice Chair.
Biden announced Monday morning his decision to renominate Powell, saying the current chair will "focus on keeping inflation low, prices stable, and delivering full employment" to "make our economy stronger than ever before." Warren, a member of the Senate Banking Committee, has long indicated she would vote against Powell's possible second term, calling him a "dangerous man."
"As we move forward," Warren wrote Monday, "I will use every oversight tool within reach to make sure that the Federal Reserve works for American families and not Wall Street."
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wack-ashimself · 7 months ago
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*for being made by DISNEY, which could LITERALLY save possibly BILLIONS of lives, for these lines to be said is the definition of hypocrisy.
"We can't demand that people step up if we don't meet them halfway. Look-you control the BANKS. Shit, you can move borders, you can knock down a forest with an email, you can feed a million people with a phone call. But the question is 'Who is in the room with you when you're making those decisions?' Hm? Is it the people you're going to impact, or is it just more people like you? I mean, this girl DIED trying to stop you. And no one has stopped for one second to ask why. You've gotta do better, senator! You've got to step up. Because if you don't, the next Karli will. And you don't wanna see 2.0. People believed in her cause so much that they helped her defy the strongest governments in the world. Why do you think that is? Look, you people have as much power as an insane god... or a misguided teenager. The question you have to ask yourself is: how are you going to use it?"
-the falcon and the winter solider
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mikegoedecke · 4 months ago
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Macro Economics - Macro Money Photography by Me
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xphilosoraptorx · a month ago
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When it finally collapses, the Federal Reserve will go down as the largest ponzi scheme in history, dwarfing every single other ponzi scheme combined.
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progressivegraffiti · 25 days ago
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Yesterday’s election results were dismal, for the people. (Like the BBBA negotiations.) Republicans and Corporate Democrats BOTH serve Big Money. The Republicans get paid to win, and the Dems are paid to lose. So, THEY all won yesterday. But...
People want Economic Justice, Climate Action, and Democracy. They will stand up and fight for it, on the very steps of powerful American institutions:
On October 29th, people all around the country, protested the Federal Reserve and demanded that it “use its regulatory powers and stop banks from funding climate disasters.”
More. You. Me. More People Power!
It’s up to us to save democracy in the U.S., and other nations, and to stop climate destruction from ruining our planet.
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asderathos · a year ago
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How many of these can you smash until the pieces are particles of dust? (1) The financial crisis was caused by deregulation. (2) "States' rights" are code words for slavery and oppression. (3) The Constitution's "general welfare" clause means Congress may pass whatever legislation it thinks will help the country. (4) The Great Depression was caused by capitalism run amok. (5) The 19th-century "robber barons" were parasites who gouged consumers. (6) Secession is unconstitutional. (7) Capitalism hurts the poor. (8) Racial disparities in income are caused by discrimination. (9) World War II got us out of the Great Depression. Smashing government propaganda is what I specialize in.
Literally govt. regulations forcing banks to lend to the unqualified due solely to their race is why banks had to create ARMs to stay in business. Many were Illegal Aliens with nothing but a electric bill to prove residency.  The Housing Bubble was created by an affirmative action leveling scheme that disregarded standard criteria for loans. 
Dual Federalism was a comprehensive system of different & separate sovereignty at the three levels of govt. Part of this was the “Great American Experiment”. The nature of the issue discussed determines whether it is a State by State issue or a Federal Issue, the Constitution having limited and enumerated powers. The defense of States Rights in themselves on principle, has nothing whatsoever to do with slavery. The Confederate pretense that Lincoln was going to or did violate ‘States Rights” with his emancipation proclamation isn’t relevant because it took a civil war to get him to make such a proclamation, suggesting he wouldn’t have done so otherwise. 
“With respect to the words “general welfare,” I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators. If the words obtained so readily a place in the “Articles of Confederation,” and received so little notice in their admission into the present Constitution, and retained for so long a time a silent place in both, the fairest explanation is, that the words, in the alternative of meaning nothing or meaning everything, had the former meaning taken for granted.”-James Madison, Father of the Constitution, in a Letter to James Robertson 1831-04-20
Milton Friedman (VIDEO): The Great Depression was caused by the Federal Reserve - FDR’s policies prolonged The Great Depression by 7 years, UCLA economists calculate By Meg Sullivan August 10, 2004 - “We didn’t admit it at the time, but practically the whole New Deal was extrapolated from programs that Hoover started.”-Rexford Tugwell 
Mises.org: The Truth About the "Robber Barons": “As common as it is to speak of "robber barons," most who use that term are confused about the role of capitalism in the American economy and fail to make an important distinction — the distinction between what might be called a market entrepreneur and a political entrepreneur. A pure market entrepreneur, or capitalist, succeeds financially by selling a newer, better, or less expensive product on the free market without any government subsidies, direct or indirect. The key to his success as a capitalist is his ability to please the consumer, for in a capitalist society the consumer ultimately calls the economic shots.“
The Declaration of Independence, is both the law of the land, and a document of secession. That some secession is constitutional does not make all secession constitutional. 
Free Market Capitalism is the greatest boon to those without great wealth on earth, and it is the means by which the standards of poverty have by and large surpassed the previous standards of wealth & privilege.
Thomas Sowell on the legacy of slavery vs. the legacy of liberalism: “Nearly a hundred years of the supposed “legacy of slavery” found most black children [78%] being raised in two-parent families in 1960. But thirty years after the liberal welfare state found the great majority of black children being raised by a single parent [66%]. “
Wars destroy & consume wealth. America was left largely unscathed by WWII & thus became the principal lender for Europe’s rebuilding which was a large part of the post-war growth that occurred, but the abandonment of the New Deal meddling that prolonged the depression for 7 years, is what really got us out of the Great Depression which was only created in the first place by the Federal reserve failing to do its job.
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politishaun · a month ago
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The Federal Reserve on Monday released a rare public statement revealing an independent review by the Office of Inspector General for the Federal Reserve Board, over whether trading activity by top Fed officials “was in compliance with both the relevant ethics rules and the law.”
Leaders had previously announced the Fed’s own internal ethics review of financial trading rules for top officials, and Fed Chair Jerome H. Powell said there would be changes to existing guidance. But the latest statement reflected a more concerted focus on the legality of the trades themselves.
“As part of our comprehensive review, we began discussions last week with the Office of Inspector General for the Federal Reserve Board to initiate an independent review of whether trading activity by certain senior officials was in compliance with both the relevant ethics rules and the law,” the Fed said in a statement Monday evening. “We welcome this review and will accept and take appropriate actions based on its findings.”
A spokesperson for the Office of Inspector General for the Federal Reserve Board said Powell “has requested that we conduct an independent review of these matters. We have agreed to do so and have no further comment at this time.”
During testimony on Capitol Hill last week, Powell said the trading activity of two regional bank presidents, Eric Rosengren and Robert Kaplan, appeared to comply with the current guidelines, even if “the appearance is just obviously unacceptable.”
Those remarks came before Bloomberg News reported on the financial activities of Fed Vice Chair Richard Clarida, who moved between $1 million and $5 million out of a broad-based bond fund to broad-based stock funds on Feb. 27, 2020, according to his disclosure forms. The Fed has said Clarida’s actions were part of a preplanned rebalancing of his portfolio and were similar to activity he disclosed in April 2019.
The revelations have raised questions about trading rules for Fed officials — and specifically what regulators at the Fed knew about the markets and financial system as the central bank turbocharged its pandemic-era policy response. Some Fed critics have alleged that such trades also erode public trust in the central bank and, at the very least, distract from its heady responsibility of navigating the economy through a slowing recovery.
Earlier on Monday, Sen. Elizabeth Warren called for an investigation of whether the financial trading activities of top Federal Reserve officials violated insider-trading rules, heightening scrutiny over ethics issues at the central bank.
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eli-kittim · 3 months ago
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The Great Reset: The Coming of the Fourth Reich
By Psychologist & Author Eli Kittim
Globalists Use Nazi-like Tactics to Control the Masses Via Propaganda & Censorship
Isn’t it strange that on the 100th anniversary of the Nazi party’s founding the Fourth Industrial Revolution was set in motion? The Nazi party was founded on 24 February, 1920. As if to celebrate its anniversary, 100 years almost to the day since its founding, a global pandemic was unleashed, which was declared “a global health emergency” by the WHO on January 30, 2020, and “a global pandemic” on March 11th of the same year. You might say, what? I don’t see the connection with Nazi Germany. Be patient; you will!
Is it a coincidence that everyone who's anyone is in on it? From important heads of state, to the fake news media, to Big Pharma, to the global social networking Big Tech giants like Twitter, Facebook, and Google, everyone is not only in on it but carefully controlling and censoring the exchange of information so as to exclusively promote their agenda, while silencing the opposition. It’s essentially a globalist totalitarian ideology which does not tolerate any alternative points of view. Any alternative viewpoint is labeled as “misinformation,” and is therefore considered as a “false claim,” which is then banned or eliminated. That’s precisely why Twitter and Facebook suspended Donald Trump’s account: his agenda contradicted theirs. Any one who has recently watched any TV news-channel or social media platform will have noticed the nonstop commercials——which either employ scaremongering tactics or a barrage of pop-up ads——that are desperately trying to persuade the public to get vaccinated, even offering incentives for research participation (such as $100). As a rule, these Big Tech social media giants are invariably censoring, libeling, discrediting, or downplaying the legitimate scientific claims of credible virologists and doctors, belittling and ridiculing their work, while also dangerously curtailing and restricting people’s freedoms that are guaranteed by the first amendment, to wit, the freedom of speech and of the press. In some extreme cases (e.g. on LinkedIn) users are given *commands* as to what to say, when to say it, and how to generally conduct themselves via a series of prompts, such as “say thank you,” or “congratulate so and so on his anniversary,” or “do this,” “do that,” and so on. As a psychologist, I see this as a form of mind control.
So, it turns out that this is not a free society after all. In fact, these are the exact same tactics that Nazis used to brainwash people into obeying their agenda. Josef Goebbels (the Minister of Propaganda), for example, controlled the media and the arts, feeding Germans with nonstop Nazi ideology while simultaneously censoring other information. That is precisely what’s happening today: mass control through propaganda and censorship!
By now, we know that many credible scientists, virologists, and doctors do not accept the data-manipulation and biased recommendations of government public health agencies, which are being dictated by the CDC, the WHO, and the globalists. These agencies themselves are sending mixed and contradictory messages. On the one hand, they are rigorously promoting vaccinations and emphasizing how safe they are. Yet, on the other hand, they themselves admit on their own websites the risks, side effects, and potential harm that these experimental vaccines pose to humanity: deaths, blood-clots, thrombosis with thrombocytopenia syndrome, facial swelling & paralysis, myocarditis, severe anaphylaxis, and other medical concerns and complications that have put a halt to some vaccines, at least for a time. And even virology expert, Geert Vanden Bossche, PhD, who has previously worked with the B. & M. Gates Foundation and GAVI, and Michael Yeadon, former vice president and chief scientist at drugs giant Pfizer Inc., are both saying that healthy people shouldn’t be coerced into taking “experimental” vaccines. Especially since 99.9% of the population in the US survives COVID. So, the initial social media criticism——excoriating these credible scientists as conspiracy theorists——no longer works! These forced genetic-altering vaccines that maximize Big Tech/Big Pharma profitability, but which show little regard for human health, are reminiscent of the coerced & unethical genetic research “experiments” that were performed at the Auschwitz death camps by Dr. Josef Mengele, the infamous Nazi doctor❗️
That’s precisely what’s happening today: mass control through propaganda and censorship! The First Reich was the Holy Roman Empire. The Second Reich was the German Empire. The Third Reich was Nazi Germany. Wiki characterizes the Fourth Reich as follows:
The Fourth Reich … is a hypothetical future
Nazi Reich that is the successor to Adolf
Hitler’s Third Reich (1933–1945). The term
has also been used to refer to possible
resurgence of Nazi ideas.
6️⃣6️⃣6️⃣
The Mark of the Beast
This scenario has already been prophesied in the Book of Revelation, chapter 13 verses 16-17 (KJV), in which a charismatic world leader will dominate the world, at the end of days, under a one-world government, and will not allow people to buy or sell, or hold a job, if they don’t have the χάραγμα (mark), which can be translated as a notch, slit, or cut:
he causeth all, both small and great, rich
and poor, free and bond, to receive a mark
in their right hand, . . . And that no man
might buy or sell, save he that had the
mark.
What, then, is the Fourth Reich? It’s the fourth industrial Revolution that commenced on the 100th anniversary of the Nazi party! Coincidence? I think not! It’s a plan by the new global elite to take over the world by coercive measures, just as Hitler did in Nazi Germany. During the lockdowns, the mass media deliberately doctored images and reported false information in order to instill fear and influence public opinion. Case in point, according to Fox News:
CBS News admits 'mistake' after airing
footage of overcrowded Italian hospital in
report about NYC.
Due to extreme censorship & coercion, the mass exodus from social networking giants like Twitter & Facebook is a testament to their growing unpopularity and the public’s discontent.
The Fourth Industrial Revolution: The New World Order
In the long run, it’s not even about the vaccines. The forced vaccines are only a part of it. They are a means to an end. They are the first phase of fear and disinformation in order to control & manipulate the masses. But the end is something entirely different. So, what’s it all about? It’s all about the “the great reset”: the 4th industrial revolution❗️ Klaus Schwab, the *German* founder and executive chairman of the World Economic Forum (WEF), admits that “the fourth industrial revolution will impact our lives completely.” It will not only change our currencies, our economies, our cities, how we live and communicate with each other, but it will also radically change our identity through nanotechnology, biology, and so on. This is all anticipated in his book “COVID-19: The Great Reset.”
See the YouTube video “What is the Fourth Industrial Revolution?”: https://youtu.be/7xUk1F7dyvI
But this movement needs coercion, restriction, and manipulation of the masses in order to work. This is serious business, and it’s quite frightening❗️We’re talking about a global dictatorship that has been in the making since the founding of the Federal Reserve in the early part of the 20th century. It has been affectionately called by Henry Kissinger, George H. W. Bush, Barack Obama, & Gordon Brown, among others, as “the new world order.” It’s not a conspiracy theory since many US presidents, British prime ministers, and high level officials have explicitly referred to it as an ideal future government that they are all working towards. This is no longer a conspiracy theory since this totalitarian world government——which has now reared its ugly head by censoring the masses through social media-driven panic, fake news, government lockdowns, and forced mask and passport mandates——is emerging before our very eyes. According to Wikipedia, an approximation of the phrase “new world order” is inscribed in Latin on the reverse side of the Great Seal as well as on the back of the US one-dollar bill:
The Latin phrase ‘novus ordo seclorum’,
appearing on the reverse side of the Great
Seal since 1782 and on the back of the U.S.
one-dollar bill since 1935, translates to
‘New Order of the Ages’ …. this is an allusion
to the ‘New World Order.’
Since the Great Reset was unveiled by the World Economic Forum & the UK’s Prince Charles, and is also embraced by the UN Secretary General, António Guterres, it’s no longer deemed as a conspiracy theory. Klaus Schwab, the founder of the WEF, has said repeatedly that capitalism has failed and has used Marxist terminology to instill his ideas. This is a socialist agenda (dare I say Red fascist?) in which we keep hearing the phrase, “you will own nothing, and you will be happy.” The high profile Davos regulars, such as Angela Merkel and Bill Gates, as well as the rest of the attendees, like the heads of Russia, Japan, Spain, Greece, Israel, Singapore, France, and so on, all know what is going on and exactly where we are headed. This reset has not caught anyone by surprise. But this form of communism, when enforced by a totalitarian government, ultimately becomes fascism❗️
The protests in France, Italy, and around the world, demonstrate that people are beginning to wake up. They realize that they’ve been lied to by politicians, government agencies, health agencies, the CDC, the WHO, and by the fake news media. Using critical thinking, they’re not buying the lies anymore. If you’re looking for “truth,” you’re not going to find it listening to Anthony Fauci or Tedros Adhanom Ghebreyesus. Hence why the protests and the riots around the world have become more widespread. For years, left-wing totalitarian globalists have been infiltrating our education system, and especially academia, instilling a sense of hatred for our founding fathers, while inculcating anti-patriotism and applauding those who burn our flags or who disrespect our country in international sports events by turning their backs on the national anthem, and the like. They have divided our country with Marxist rhetoric, critical race theory, BLM, & the anti-statue movement, literally removing our greatest heroes from sight❗️
The Globalist Goal is to Abolish Personal Rights, Religion, Race, Ethnicity, Country, & National Identity
This is a well-planned maneuver that was conceived a long time ago to supposedly end all ethnic and racial heritage, to eliminate national identity, history and culture, to remove flags & national governments, to create a cashless society, to merge humans with machines (transhumanism), and so on and so forth. Mikhail Gorbachev had written about some of these themes a while back. The Vatican has also issued statements that demonstrate a sense of allegiance with this globalist movement. Most importantly, the global elite want to severely restrict the practice of religion, as in Tajikistan, Turkmenistan, and China, or to abolish it altogether, as Iceland tried to do when it passed legislation banning American televangelists. And they are all reiterating the exact same narrative, from prince Charles to George Soros. So, the global elite knew what was coming. There’s only one problem: they never told the people❗️
Now that I have your attention, Klaus Schwab wrote a book called “The Fourth Industrial Revolution,” in which he describes an age:
[of] technological revolution … that is
blurring the lines between the physical,
digital, and biological spheres.
The First Industrial Revolution started in Great Britain c. 1760. The second industrial revolution (mass production) took place in the late 1800s. The third industrial revolution (the digital revolution) happened in the second half of the 20th century (semiconductors/personal computers). The fourth industrial revolution is characterized by the notion of humans merging with technology and artificial intelligence. This is reminiscent of Ray Kurzweil’s technological singularity. If this is the case, innovators, investors, and shareholders——like Silicon Valley, Big Tech, & Big Pharma——will largely benefit from this endeavor. To this end, the COVID-19 pandemic was manufactured so as to begin the process of transhumanism and global economic & political control.
This war on society can be viewed as World War III. We are at war with those who want to abolish our freedoms and liberties, our rights to free speech and privacy, our rights to ownership, our rights to choose our political and economic systems, etc. Our bodies do not belong to the government. They belong to us. Ultimately, we have the right to make the choice of whether or not to stick a needle in our arm, without fear, threat of imprisonment, or legal ramifications. According to the Nuremberg Code of Ethics, there can be no form of coercion in human experimentation. Moreover, a mandatory vaccine with surveillance capability (nanotechnology) constitutes a violation of the 4th Amendment, namely, the right to a person’s privacy. The Great Reset will create a dystopian society where another Hitler (which the Bible calls “Antichrist”) will rise to power (cf. Rev. 13.16-17). The New World Order will control every aspect of life through artificial intelligence à la George Orwell’s 1984! The 2nd phase will probably involve military control of cities. In fact, some cities have already invoked martial law. The following abridged message was sent to me via Goodreads by a friend named James Morcan, who lives in Sydney, Australia:
Here in the biggest city in Australia we have
martial law masquerading as medical law …
with the army out on daily patrol on the streets
monitoring citizens to ensure everyone “follows
zee rules”… plus helicopters and drones
constantly flying overhead for the same purpose.
Masks are now mandatory everywhere, even if
you’re outside miles from anyone in public
parks. Citizens have to digitally sign-in everywhere
and many are being tracked 24/7 Chinese
communism-style. All forms of protesting in
public is now illegal here. … Whenever prisoners, I
mean citizens (sorry, my mistake), are briefly
allowed outside their homes they cannot go more
than 5 miles away and cannot see friends or
family…Sydney has been in this position for
months and it may continue until Christmas, and
neighbouring Melbourne has been locked down
for 8 of the last 12 months…Those who wish to
remain unvaccinated are also being stigmatized,
marginalized and are being punished by losing
their jobs, travel opportunities, and ability to
socialize. All that’s lacking is a Star of David-style
badge so everyone can identify the unvaccinated
in public. … At some point we all have to be honest
I think and consider that if it looks and feels like a
tyrannical, dystopian society, then it probably is...
James
See the YouTube video “Dangerous Marxist Leaders Call for the ‘Great Reset’ to Destroy Capitalism”: https://youtu.be/Se9rkxUK8zU
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wack-ashimself · 3 days ago
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*how I feel on crypto.
"Now, of course, we only accept bitcoin and other cryptocurrency cuz, ya know, it's the future. We've all decided centralized banking is rigged, so we trust more fly by night ponzi schemes."
-south park
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“November 2, 2010, is a day that that has been mostly forgotten by history, but that should live in infamy. It was the day when America’s democratic institutions retreated to the sidelines of economic policymaking and largely left the nation’s economic development to the Federal Reserve. The result was a decade of printing money that has primarily benefited the very rich and stoked asset prices in ways that continue to destabilize global financial markets.“
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