The Fed

Ryan McMaken and economist Jonathan Newman look at the government's alleged $750 billion gold reserve, how it got there, and why it's time to privatize the gold.

As Elon Musk and his crew scour the federal government to see what needs to be culled from the herd, there is an obvious agency that cries out for elimination: the Federal Reserve System.

Does the US government need a gold reserve? No, it doesn't. The government's gold is basically an emergency slush fund for elites to use to preserve their political power.

Should we audit the US gold hoard? First, let's take a look at what the official numbers say about how big the US gold reserve is, where it is located, and how much it is worth in US dollars.

More than a century ago, Congress created the Federal Reserve System to intervene in the American economy. Not even the biggest critics of the central bank‘s formation could have predicted the economic disasters it brought about.

High inflation spurred Donald Trump’s defeat of Kamala Harris last November. The economy was the top issue for most voters, and inflation was the top economic issue. As Biden’s partner in economic crime, Harris could not escape the blame for the torpedoing of the dollar’s value.

The Fed is losing record amounts of money, but in the magical world of money-printing, it‘s not a problem for the Fed. It‘s just a problem for the taxpayers.

America’s residential mortgage market is mostly controlled by government. Ryan McMaken and Alex Pollock talk about how government corporations like Fannie Mae are fueling America’s housing affordability crisis. 

Much of the world‘s financial system is undergirded by the false claim that US government bonds are “risk-free.” The truth is that all is not well when it comes to banking and finance.

For more than a century, the Federal Reserve has slowly but surely destroyed this nation‘s once-sound monetary system. As inflation once again undermines our economy, the Fed reacts by making things even worse.