Our manipulative monetary policy is the greatest evil exacted on the people of the United States and indeed the rest of the world. With control over the money supply and thus the value of every dollar, the Federal Reserve System subjects the entire economy to its will which is of course influenced by political agendas and external powers.

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The ideas that spending grows an economy, that inflation is natural or even “good”, and that a weakened currency is desirable in order to facilitate exports, are among conventional wisdom despite being patently false. Such concepts have birthed heinous and destructive policies that should be feared as much as any threat of terrorism.

• We cannot spend our way to prosperity; we must produce our wealth and consume wisely and responsibly.

• Rising prices may be a sign of high demand which is good for business, but the higher cost of living is a problem for the consumer; and businesses can only be supported in the long run by thriving customer base, not a tightening one.

• And finally, a weakened currency may help us export goods and services by making them comparatively cheaper on the global market, but we receive the weakened dollars in the exchange... so that means we will receive less when we try to spend those weakened dollars.

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The menace of the Federal Reserve System is threefold:

• Member banks may maintain only 10% of reserve funds on the deposits which means more money can be loaned out than actually exists. This distorts the market by stimulating behavior under a false pretense of more capital being in the economy than there truly is.

• Interest rates are artificially influenced to spur investments based on the agenda of the Fed, rather than the natural forces of supply and demand in the credit market. This disrupts the normal function of interest rates which is to account for time and risk, and leads to investing and lending practices that do not properly gauge these factors.

• The monopoly on the currency allows the Fed to be the sole issuer of legal tender notes and to create them out of nothing. This is a hidden tax as they are able to purchase assets, as well as serve as a lender of last resort to the government, all with money that is imagined into existence. In this regard they can prop up failing institutions and loan unending amounts of money to the government regardless of true fiscal conditions.

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This system has led to a continual sway between periods of perceived growth fueled by manipulated market signals and harsh declines when the truth is revealed and the phony wealth vanishes. We have come to know this as the boom and bust cycle. What is worse is that the process over the longterm devalues the US Dollar, as it is stretched to cover more losses and more debt, hurting those who depend on it the most... the poor.