Stop the Counterfeiters! End the Fed!

By Rick Williams

It's Time To End Our Federal Reserve System

Let me use a simple example to illustrate what's wrong with the Fed. You've probably heard about "quantitative easing" in the news. "QE" (as they like to call it) is the program where the Fed buys U.S. Treasury bonds. These bonds are debt-- written obligations of our government that the Fed expects will be paid off by taxpayers at some specified maturity date down the road. Such bonds are the burden on our childrens' future; and the Fed has acquired almost $2 trillion worth of these debt instruments over the past few years. These bonds are the very thing that's bankrupting our country.

But let's take a step back, and ask ourselves an important question. Where did our Federal Reserve System get the money to pay for these bonds? Answer: they created the money out of thin air. They simply conjured the money up-- from nothing-- and then used this phony, illusory "money" to "buy" their treasury bond holdings. What they did was enter some big numbers as "money" in their Fed electronic "checkbook" and then pretend that actual money was there to begin with. Such activity by the Fed is no different from that of a common counterfeiter who prints up a fresh wad of hundred dollar bills on a copy machine and passes them around as if they were "real." The effect is exactly the same-- in both cases (Fed and common crook) the dollars held by the rest of us are degraded in value. Counterfeiting is theft-- pure and simple-- and our Federal Reserve is a counterfeiter.

In lawyer terms, the phony money that the Fed paid to acquire its $2 trillion of treasury bond holdings does not constitute "legal consideration" for the QE bond purchases. When a common counterfeiter passes bad money in exchange for debt, he's committing a crime; and there's certainly no legal duty to pay him back! The same is true for the Fed. Its $2 trillion in treasury bonds should be repudiated, and its chairman and senior officers escorted to the nearest prison. Rule of law and simple justice require this-- and when I'm elected to the United States Senate I won't rest until exactly this outcome comes to pass.

There's a lot more about the Fed that I could talk about; and will, on the campaign trail. The Fed hands out phony money by the bushel basket to its cronies and friends. The Fed passes around counterfeit dollars to overseas banks. The Fed was primarily responsible for the creation of our housing bubble-- they artificially kept interest rates too low for years. The list of Fed misconduct goes on and on . . . and the solution is apparent and obvious. Close this monstrosity down. Stop the fraud. End the counterfeiting. Let's get America back on the path to sound money and responsible financial governance. Our Federal Reserve System has run its course-- time to say goodbye.

Will America survive? Of course we will! We don't need these criminal bankers and their crony political friends. We don't need their phony money. We don't need their rotten debt. America is much bigger, and stronger, than a tiny cabal of bankers. Our nation won't miss them at all; and a structure of free market money in place of the Fed monopoly will quickly bring a renewal and resurgence of economic activity and entrepreneurship like nothing we've seen in our modern lifetimes. Getting rid of cancer is a good thing. Cleaning out a nest of counterfeiters will lift our economy, not hurt it. Don't believe their bankster fear talk-- we'll be much better off without them.