Federal Reserve Conspiracy

[tradeunionsupporter]

Is the Federal Reserve a Conspiracy ?

The Money Masters - How International Bankers Gained Control of America

http://video.google.com/videoplay?docid=-515319560256183936#

[Revolution starts with U]

The federal reserve is an inevitable consequence of the capitalist system, regardless of Jeckyll Island or anything else (which the Jeckyl FED isn't even the FED we have).

"You don't need a formal conspiracy when interests coincide" ~George Carlin

[Drosophila]

The Fed isn't the evil thing it's made out to be, but as Revolution Starts with You said, it's just a consequence of unrestrained capitalism.
It can do good things, and it can do bad things. Simple as that. No conspiracy involved.

[Apoi_Viitor]

Is the Federal Reserve a Conspiracy ?

It is. By abolishing the fed and switching to the gold standard, we'd solve all of the world's problems.

[Ocean Seal]

No please don't put up any conspiracy theories.
Only the right needs conspiracy theories like the NWO, Caliphate, Illuminati and so on.
The left does not need conspiracy theories. Why? Because even the capitalists will tell you that the world is fucked up.

I don't need a conspiracy theory to tell you that the capitalists are planning mass murder because in fact they conduct mass murder every day. 15 million children starve to death every year. Did the Illuminati do that? No, the capitalists took full credit.

Are capitalists capable of controlling our politicians and tricking us into believing that we have a democracy? Yes, they are currently doing that its no conspiracy. Our elected leaders don't tax the rich, they give trillion dollar bailouts, and spend money on imperialist wars. There aren't men in robes telling them what to do, there are men with suitcases of cash telling them what to do.

[ÑóẊîöʼn]

I don't need a conspiracy theory to tell you that the capitalists are planning mass murder because in fact they conduct mass murder every day. 15 million children starve to death every year. Did the Illuminati do that? No, the capitalists took full credit.

It's even more banal than that. Rather than being moustache-twirling supervillains that positively rub their hands with glee at the prospect of crushing the workers beneath the boots of their goons, they simply ignore the plight of the lower classes in the pursuit of their economic goals, and when confronted with it simply rationalise it away.


Are capitalists capable of controlling our politicians and tricking us into believing that we have a democracy? Yes, they are currently doing that its no conspiracy. Our elected leaders don't tax the rich, they give trillion dollar bailouts, and spend money on imperialist wars. There aren't men in robes telling them what to do, there are men with suitcases of cash telling them what to do.

In the interests of procuring more suitcases of cash, you understand. Precious few people actually think of themselves as evil.

[jake williams]

Is the Federal Reserve a Conspiracy?
What does that even mean?

The Federal Reserve board sits in a little room hidden from the public and comes up with plans to engineer the economy to protect the American capitalist class and "price stability" - whether that's effectively giving public money (via inflation of the currency held by workers) to the rich, or whether it's engineering the economy to drive down growth, keep unemployment up and keep wages down.

Is that a conspiracy? I guess? Except it's the Fed's official policy and they openly acknowledge doing it. Their most harmful activities are carried out undemocratically and without public input, and for the most part without public knowledge. But they don't hide it. There's no big "secret" about the Fed in the same way there's no big "secret" about what the capital of Kyrgyzstan is - most people probably don't know it, but the information is publicly available.

That's the way the capitalist class usually works, when they actually act in concert, which isn't always. It's pretty rare that they do something significant in real secret, for the simple reason that it's not practical to coordinate the interests of a large group of people - capitalists - in total secrecy.

[Dean]

It's even more banal than that. Rather than being moustache-twirling supervillains that positively rub their hands with glee at the prospect of crushing the workers beneath the boots of their goons, they simply ignore the plight of the lower classes in the pursuit of their economic goals, and when confronted with it simply rationalise it away.


Not completely true. The Fed, not long after it was created (I wanna say 1939 but who knows) deliberately lowered railroad workers wages in its policies, at the behest of banks deeply invested in RR companies. The idea was the create demand and liquidity for RR bonds. While the internal documents indicate this as one of the important goals (lowering RR wages) at the time, there was no release of this information then for obvious reasons.

This has all the makings of a conspiracy, its 100% accurate, and it involves a direct attack on workers for capitalists.

Thomas Ferguson writes in "Golden Rule" p. 181:
"Another component of the [Fed] program, hidden in the January minutes, appears in a memorandum from W. Randolph Burgess to Harrison: "most of the points of our January program have now been achieved: rail wages have been reduced, the administration had made a definite commitment of balancing the budget, the Reconstruction Finance Corporation is in operation, and the bond pool has been operating - though feebly.""

Indeed, it has been argued recently that the same has been occurring:

http://www.nakedcapitalism.com/2009/11/guest-post-military-spending-is-increasing-unemployment-and-reducing-gdp.html


But instead of doing anything to encourage a sustainable recovery in employment – such as rebuilding America’s manufacturing base, or breaking up the too big to fails so that the smaller banks have a chance to grow and lend more to individuals and small businesses (see this (http://www.washingtonsblog.com/2009/10/white-house-still-defending-myths-about.html) and this (http://www.washingtonsblog.com/2009/10/breaking-up-too-big-to-fails-will-not.html)) – the government has simply thrown money at the banks.
Moreover – contrary to what you might have heard – PhD economist Dean Baker pointed out (http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/defense-spending-job-loss/) yesterday that America’s massive military spending on unnecessary and unpopular wars actually lowers economic growth and increases unemployment:

[Che a chara]

Federal Reserve chairman outlines class war policy

By Andre Damon
28 April 2011


Ben Bernanke, chairman of the United States Federal Reserve, held a press conference Wednesday where he signaled an intensification of the US ruling class's predatory economic policy: the devaluation of the US dollar, high unemployment, and an expanding attack on the working class.

Wednesday's news headlines presented the results of this policy: the stock market hit its highest level in ten years, the price of gold hit a new record, and the US dollar came within sight of its lowest level ever.

Bernanke's press conference, the first time that the fed chairman took extended questions from the media, followed a two-day meeting of the Federal Open Market committee, which published a statement earlier in the day stating its commitment to wrap up the central bank's extraordinary purchase of securities, called QE2, by June, as it had earlier announced.

The committee also downgraded its economic outlook for 2011, expecting more unemployment, higher inflation, and slower growth than it had previously envisioned. Economists expect the commerce department to announce Thursday that the US economy grew at an annualized rate of 2 percent in the first quarter of 2011, compared to 3.4 percent in the fourth quarter of last year and 4.5 percent in the third quarter.

Bernanke gave a number of causes for the expected slowdown, including weaker exports, inclement weather, and the continued slump in the housing market. He notably did not include federal, state, or local budget cuts in the list of causes. He later said explicitly that, in his opinion, the effect of government spending cuts on economic growth had been negligible.

Bernanke, usually reserved in his calls for fiscal austerity, unequivocally praised the budget-cutting schemes being discussed in Congress. He said that addressing the deficit is the "most important" problem for the country, and said he was grateful that Congress had taken up the issue seriously.

He had nothing but praise for the move last week by Standard & Poor's, the debt rating agency, to downgrade the outlook on the United States' sovereign debt, saying he hoped that the downgrade would pressure lawmakers to reduce the federal deficit.

Responding to Bernanke's statement, a reporter said, “In the past there have been times when fiscal policy has tightened and the Federal Reserve has chosen to ease its policy in response.” The reporter pointed to the disastrous impact of austerity measures on the British economy, and asked if the Fed could do anything to prevent a similar outcome.

Bernanke answered categorically, “The cuts that have been made so far don't seem to us to have had significant consequences for short-term economic activity,” a statement that stood in stark contradiction to the economic slowdown that Bernanke said would be reflected in first-quarter figures. Fed officials said they expect the US gross domestic product to grow by 3.1-3.3 percent in 2011, significantly less than their earlier estimates of 3.4-3.9 percent. They also said they expect inflation to be 2.1-2.8 percent this year, compared to their previous estimate of 1.3 to 1.7 percent.

Bernanke presented all of his actions within the framework of preserving the “dual mandate” of the Federal Reserve: low unemployment and stable prices. But In reality, low unemployment couldn't be further from the Fed chairman's mind. His real aim is to prop up financial profits with easy money, impoverish workers with unemployment and inflation, and carry out trade war measures against America's rivals by devaluing the dollar.

When asked by a reporter why the Fed had been unable to lower the unemployment rate faster, Bernanke said that the Federal Reserve's response had been “very aggressive.” This statement was nothing but an false amalgam between the trillions of dollars in bailout money given to the banks and the nominal goal of lowering unemployment. But instead of hiring, corporations have taken the Federal Reserve's money and either hoarded it or used it to gamble on commodities and stocks.

The press conference took place amid a drastic rise in food and gas prices. World food prices have risen by 36 percent over the past year, according to the World Food Organization, and the price of gasoline at the pump in the US has risen by a dollar during the same time.

Total US inflation over the past twelve months was 2.7 percent, according to Consumer Price Index figures from the Bureau of Labor Statistics, which have come under growing criticism for undervaluing the increase of food and energy prices.

Bernanke said that “almost all” of the increase in oil prices over the past few years was attributable to two causes: the political turmoil in the Middle East and growing demand from the developing countries. In effect, Bernanke ruled out any contribution by the Federal Reserve's expansionary monetary policy, which has flooded the world economy with cash and has facilitated a worldwide upturn in speculation.

The US dollar has fallen almost 17 percent against other currencies since June, hitting a two-and-a-half year low Wednesday and coming within sight of its lowest price ever. Bernanke sought to downplay accusations that the Federal Reserve was competitively devaluing the dollar as a predatory stimulus to US industry, saying, “The Fed believes that a strong and stable dollar is in America's best interests and in the interests of the global economy.”

In November 2010, the Federal Reserve announced that it would purchase $600 billion of treasury bonds, in addition to the assets already on its books, in an effort to expand the money supply beyond the “floor” created by the near-zero federal funds rate. The Federal Reserve had earlier indicated that it would conclude the program in June, and confirmed this plan with the release of the Federal Open Market Committee statement.

Bernanke insisted that the scheduled completion of the fed's asset-purchasing program did not constitute a form of fiscal tightening, since the fed would not sell the assets it had purchased, but would continue to hold them on its books. He said that, in the event the fed would wish to tighten the money supply it could do so by selling the mortgage-backed securities and treasury assets it had purchased. The fed chairman refused to specify when he thought such monetary tightening was likely to occur.

Bernanke's press conference signals a continuation of the parasitic policies of the American ruling class. The US will continue to flood the world economy with cash, fueling global inflation, skyrocketing food and energy prices, and all the social misery this brings.

Meanwhile the US will continue to try to extricate itself from the economic crisis at the direct expense of its neighbors through a devaluation of the dollar. For all Bernanke's bluster about a “strong dollar,” the end result of the Federal Reserve's policy is an effective export subsidy to American corporations through the relative cheapening of US-made goods.

At the same time, Bernanke has, more explicitly than any other US central banker before him, come out in favor of austerity, even though the very plans he supports threaten to plunge the US economy into a second recession, throwing millions more people out of work and causing untold social misery.

LINK: http://www.wsws.org/articles/2011/apr2011/bern-a28.shtml?

[Manic Impressive]

No please don't put up any conspiracy theories.
Only the right needs conspiracy theories like the NWO, Caliphate, Illuminati and so on.
The left does not need conspiracy theories. Why? Because even the capitalists will tell you that the world is fucked up.

I don't need a conspiracy theory to tell you that the capitalists are planning mass murder because in fact they conduct mass murder every day. 15 million children starve to death every year. Did the Illuminati do that? No, the capitalists took full credit.

Are capitalists capable of controlling our politicians and tricking us into believing that we have a democracy? Yes, they are currently doing that its no conspiracy. Our elected leaders don't tax the rich, they give trillion dollar bailouts, and spend money on imperialist wars. There aren't men in robes telling them what to do, there are men with suitcases of cash telling them what to do.

–noun, plural -cies. 1. the act of conspiring

2. an evil, unlawful, treacherous, or surreptitious plan formulated in secret by two or more persons; plot.

3. a combination of persons for a secret, unlawful, or evil purpose: He joined the conspiracy to overthrow the government.


I think you'll find that they not only qualify as conspiracies but as conspiracy theories. Trouble is all conspiracy theories get lumped in together whether it's got partial evidence or not. The CIA helping to assassinate Che Guevara I believe at the time was not public knowledge and could not have been proven absolutely which makes it a conspiracy theory. We now know that they did definitely participate in the murder of Che so it's now no longer a theory. But before we knew that for sure it was in the same category as David Icke's lizard people as they were both conspiracy theories. Which is why I think the term is stupid and it's even more stupid to reject all conspiracy theories on the basis that some of them are bat shit crazy.

[RGacky3]

I think you'll find that they not only qualify as conspiracies but as conspiracy theories. Trouble is all conspiracy theories get lumped in together whether it's got partial evidence or not. The CIA helping to assassinate Che Guevara I believe at the time was not public knowledge and could not have been proven absolutely which makes it a conspiracy theory. We now know that they did definitely participate in the murder of Che so it's now no longer a theory.

Thats true, lump that in with the fact that the whole Vietnam war was based on a blatent lie, also the fact that Japan was willing to surrender before the bombs were dropped, and so on, these are all "conspiricies" that turned out to be totally true.

That being said any conspiracy that requires some secret organization or some underground cabbal is bull.

[Manic Impressive]

The British government did not acknowledge the existence of MI6 until 2005 even though pretty much everyone believed they existed. Don't think you can get more of a shadowy cabal than that.