The Federal Reserve Bank creates economic crisis

March 15, 5:28 AMSalt Lake Nonpartisan ExaminerGary Wood

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Federal Reserve Bank of New York  - AP Photo

Spring is in the air as dormant plants begin to awaken across the country. Many will be going through the annual process of treating lawns for weeds, those pesky unwanted plants that take over a landscape unless completely eradicated. Our economic landscape has a terrible weed known as The Fed.  There are very few politicians willing to tell the truth about this weed. Most hold up this noxious weed as some exotic, beautiful plant; it is not.

Alan Greenspan served as the 13th Chairman of the Federal Reserve while four presidents served (Reagan, Bush, Clinton, Bush). Ben Bernanke has followed him as the 14th while Paul Volcker preceded him as the 12th. These are not landscapers here to help us control weeds. They have helped destroy our economy for a long time with the help of many others. Tim Geithner, yes Turbo Tax Tim, has been involved with The Fed in many ways over his career finally serving as the President of the Federal Reserve Bank of New York. It is amazing to follow the history of appointments sharing time in the treasury and Federal Reserve systems.

Keep in mind these are just a sampling of recent infestation which, once rooted, is apparently impossible to get rid of no matter which party we entrust to care for our economy. Just this past week Pres. Obama appeared with Volcker to calm the fears of bankers everywhere. Even though Volcker was replaced in 1987 he is still there, whispering in the ears of politicians the wisdom of The Fed is the answer to a beautiful economy; it is not!

There are many key reasons we are in an economic crisis today. Poor decisions by politicians like Barney Frank and Maxine Waters don't get the attention they deserve yet without the infestation of The Fed their decisions would not have the power to invade. Fannie Mae and Freddie Mac, government sponsored enterprises, share a great deal of the burden yet The Fed is their source of protection. Private banks followed the commands of politicians not because it was sound lending advice but because The Fed was there to bail them out. The Fed does this and much more without so much as an audit trail for taxpayers to attempt to follow. Our taxing burden of debt simply grows, the weed spreads.

The invasion began slowly enough. Once the 16th Amendment was in place to fund The Fed it was introduced into our landscape at the end of 1913. Luckily for those involved in the depression of 1920 and 1921 The Fed, which did help create it, was not as predominant so the depression was short lived. In "Meltdown" Thomas Woods writes, "Not surprisingly, many modern economists who have studied the depression of 1920-21 have been unable to explain how the recovery could have been so swift and sweeping even though the federal government and the Federal Reserve refrained from employing any of the macroeconomic tools - public works spending, government deficits, inflationary monetary policy - that conventional wisdom recommends as the solutions for economic slowdowns."

Looking into the roots our economic liberties have been jeopardized by the invasion of The Fed, period. No president will admit this to you, no majority or minority leader will admit this to you, no major media outlet will admit this to you, but the facts are obvious when you look at the landscape! It is this weed, choking the economic hopes for our posterity, which must be eradicated.

What can you do? First, study the facts so you know for yourself this is true. Second, tell your representatives (serving you) to support H.R. 1207; The Federal Reserve Transparency Act so we can see the weed clearly. Finally, tell your representatives (serving you) to support H.R. 833; The Federal Reserve Abolition Act! When it is rooted out completely, when the players who dominate us economically are reduced in power, when we reclaim our liberty and our right to the pursuit of happiness the economy will be a beautiful landscape to enjoy.