MOGAMBO GURU: America Being Looted By The Federal Reserve

[Tace]

Richard Daughty, the angriest guy in economics -- World News Trust

snip

Still, there was not a sound! Instinctively, my hand slowly started inching towards the bazooka I keep in my shoulder holster, which I admit is not only very heavy and unwieldy, but stupid, too, although it is somehow very comforting in a "raw firepower" kind of way. My fingers close around the cold steel of the trigger as I say, "Do you comprehend, even remotely, the staggering enormity of America being looted by the Federal Reserve, which is just a private bank owned by a shadowy, semi-anonymous group of people that includes a lot of foreigners, all for the obscenely profitable benefit of these selfsame mysterious foreign strangers? Do you?" I viciously snarl.

Suddenly, from behind the curio cabinet, my daughter springs out, puts her little fists on her hips, and with a booming voice says, "I, the one known as Daughter-Possessed-By-Demons, know!" I watch, dumbfounded, as she bellows, "This means that we will soon be taxing ourselves more, and imposing roaring inflation on ourselves (which is, actually, just another gigantic tax, in effect) by letting the Federal Reserve create the money to finance the government's increasing deficit-spending, which is supposed to 'offset' the government's increasing debt without resorting to the alternative of levying taxes. And this increased inflation in the money supply will be followed by horrific inflation in prices. Ain't that right, mighty magnificent Mogambo moron (MMMM)?"

I am stunned! She's exactly right! I naturally suspect a trick of some kind. So, cautiously, I test her by leaning forward, looking her right in the eye, and open-endedly asking, "And…?" She immediately answers, "To support rich foreigners who can't even speak English without some thick, stupid accent, who drive foreign cars, who marry other foreigners, and who actually live in foreign countries, too! And then, while they are living it up, having a wonderful time spending our American money and eating weird, exotic foods like, oh, I dunno, filet of marmot earlobes or something, we Americans will suffer from crippling inflation in prices as the dollar is devalued to accommodate them in their gluttony!"

For some reason, the shock of hearing my own kid saying this, and all this talk about devaluing the dollar, makes me suddenly recall the essay entitled, "Vox Populi, Vox Suckers," by Gary North of LewRockwell.com, who writes, "The history of the demise of the dollar is the history of the replacement of a gold coin standard with the Federal Reserve System. The decline began in 1914." I remember thinking to myself, "Huh? Why am I remembering this, and why right now?" Then I see the wisdom of it when I further remembered that he went on to write, "But it has come in waves of depreciation. We are on the cusp of the dollar's next great decline."

I am kind of freaking out here about what the kid and Dr. North are saying about this coming decline in the dollar, and so I was overpowered when she, again correctly, says, "And don't even get me started on Robert 'Elliott Wave' Prechter and that whole Socionomics thing, Pops, where society mirrors the economy, which both break down into a post-Apocalyptic nightmare when the buying power of the currency is destroyed!" Suddenly, the room was silent. I looked at her. She looked at me. Then she said, softly, "We're freaking doomed!"

more

http://worldnewstrust.org/modules/AMS/article.php?storyid=4021