Glenn Beck on the Fed

Glenn Beck had a special show on Friday about the Fed. G. Edward Griffin was one of his guests. This is a must watch episode, even for the Glenn Beck haters!

To see the entire show CLICK HERE.

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6 Responses to Glenn Beck on the Fed

  • I do not defend the Fed. Like Marc Antony, I would bury the Fed not praise it.

    I believe the FRB has far too much centralized power over market interest rates (“Open Market Operations” – keeping market interest rates too low, too long worsened the recent housing bubble and exacerbated the Great Recession) and money supply (setting bank reserve requirements); has been co-opted by big gubmint statists; and has been uncannily ruinous in every banking/economic crisis since 1913.

    Griffin et al, are right for the wrong reasons. They data mine, leave out facts that don’t support, and take it all out of context. In his critique of the Bank of the US, Beck omits 99.4% of 18th century US banking/economic history.

    A question occurs to me. When the demons of Jekyll Island weren’t feverishly seizing financial America, were they out kidnapping cracker children to make blood sacrifices to the spirit of Alexander Hamilton?

  • T. Shaw almost had me convinced that he/she is a real intellectual; then the comment on “cracker children”. I’m unfamiliar with that term, although I live in the deep South.

  • B. R., Don’t try to insult me with that “intellectual” label.

    When you finish reading his book, Griffin can sell you the cure for cancer.

  • The Federal Reserve is a central bank. It performs the functions of a Central Bank. Basically it the bank for banks. If we do not have the Fed who performs them?

    a. An office in the Treasury run by an Assistant Secratry of the Treasury who serves at the pleasure of President Obama.

    b. Larger commercial banks. Some of which would be run by the likes of George Sorros. Certainly no accountability there. Given are current debt the Central Bank of China would end up performing them.

    Let us review. The Fed is government corporation establishe by congress and run by a Board of Govoners appointed by the President with the advice and consent of the Senate for fourteen year terms. The chairmen is appointed from the Board by the President with the advice and consent of the Senate for four years.
    Fourteen years is a rather long term for an independent board.
    Because we do not want it completely divorced from the political process, but if the decisions are influenced by short term political advantage decisions will be make on the party in power winning the next election not what is good for the economy and the banking system. Look at what is happening in Europe, the countries where the central bank is subject to short term political control are the countries in the deepest trouble. Germany which is even more political hands off the Central Bank is the economy that is in the best shape and is pretty much holding the thing together.

    Yes there are problems with the Fed system even when they make good decisions, they have won a few dumbness awards in last couple years. Reform it, don’t throw it out as the alternatives are much worse.

  • The Fed is not a government corporation. The Fed is a privately owned bank with monopoly privileges secured by the force of government. It is a monstrosity. It wreaks havoc on the economy, distorts politics and redistributes wealth from free actors in the marketplace to transnational oligarchs. It is usurious and immoral. Replace it with what? What kind of question is that? What did the Fed replace? Nothing. It was created out of nothing and creates money, of no value, out of nothing. Our Republic operated without the Fed. Our Republic will operate without the Fed again, or it will cease to be a republic.

    If the Fed’s mission is to fight inflation and unemployment, then it has failed in that mission for nearly 100 years!!! For an institution to fail that consistently for so long one must suspect that it is intentional. Even a broken clock is right twice a day.

    I am still confused as to why anyone would be in favor of ultrawealthy, immoral, transnational bankers having a private cartel to control the money supply, which gives them leverage over the political process, the power to trigger booms and busts, and near absolute power over the lives of the people. How does anyone think this a good thing?

    Over $14 trillion in debt, a devalued money unit, wealth transfers to those who are politically favored and uberwealthy, power consolidation and monetary manipulation used to undermine sovereignty, and fund all manner of moral ills like ‘population control’, ‘family planning’, ‘feminism’, ‘Communism’, drug distribution, war and genocide. I just don’t get how anyone who isn’t at the right hand of the Devil thinks this Monster from Jekyll Island is to be defended.

    It is long past time to turn over the tables of the money changers and drive them out with a whip!

  • I appreciate the good intentions of this site, and enjoy the occasional off-subject or humorous article. This article feels crankier than most, though, like it belongs on a nutty site.

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