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Stockman: Our Problem is the Federal Reserve
September 10, 2012
Former OMB boss David Stockman told CNBC that Romney’s vision of capitalism is not possible if the Federal Reserve continues to run the economy. Stockman said the only candidate that had it right was Ron Paul.
“He was the only one that had it right about the Fed,” Stockman said. “The Fed is the heart of the problem. We have destroyed the capital markets, the money markets. Interest rates mean nothing. Everything is trading off the Fed. Wall Street isn’t even home. It’s a bunch of computers trading word clouds emitted by this central bank or that.”
Stockman said that with the insane interest rate policies of the Fed, the crushing debt of entitlements and the neocon-driven war machine with a parasitical military-industrial complex in tow will continue to roll on unless something gives.
Facing the music will never happen “if you can keep borrowing free money forever because the Fed and these lunatics who are running it – and I use that word advisedly – are basically telling the whole world untruths about the cost of money, about the cost of risk, about how you allocate capital.”
The Federal Reserve, of course, is not merely a gaggle of lunatics. It is a façade for a cartel of international banksters who know exactly what they are doing – destroying the greatest engine of wealth and prosperity the world has ever known.
The “moneyed vultures who control” the Federal Reserve, as Congressman Louis T. McFadden called them at the outset of the last Great Depression, are determined to bankrupt the government and impoverish the American people.
Before he was killed in a Korean Airlines 747 that was shot down by the Soviets, Congressman Larry P. McDonald said the “drive of the Rockefellers and their allies is to create a one-world government combining super capitalism and Communism under the same tent, all under their control.” In order to accomplish this, they must destroy not only economic stability and growth, but also the Constitution and national sovereignty.
“We are on the verge of a global transformation,” boasted David Rockefeller at a United Nations dinner in 1994. “All we need is the right major crisis, and the nations will accept the New World Order.”
In August, David Stockman took Paul Ryan to the woodshed and chastised the Republicans for their many sins. “Thirty years of Republican apostasy — a once grand party’s embrace of the welfare state, the warfare state and the Wall Street-coddling bailout state — have crippled the engines of capitalism and buried us in debt,” Stockman wrote for the New York Times. “Mr. Ryan’s sonorous campaign rhetoric about shrinking Big Government and giving tax cuts to ‘job creators’ (read: the top 2 percent) will do nothing to reverse the nation’s economic decline and arrest its fiscal collapse.”
Ryan, Romney, Obama and the hapless Biden – these are merely bit part actors in a larger drama that will eventually end in disaster. Ron Paul’s diligent effort to audit the Fed was a good starting point and has produced tangible results, namely the revelation that the bankster cartel had secretly doled out $16 trillion to foreign banks and corporations, a factoid almost completely ignored, of course, by the establishment media.
Much more must be done soon. The Federal Reserve must be dismantled immediately and the banksters prosecuted for their criminal conspiracy to destroy America. Short of that, we can only expect to be not only fleeced, but as Jefferson warned, made homeless on the continent our fathers conquered.
“America was born of protest, revolution, and mistrust of government,” writes Ron Paul. “Subservient societies neither maintain nor deserve freedom for long.”
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