Thursday, February 23, 2012

US Fed as Credit Card and Consumer Watch Dog - When Did this Happen?

The Daily Bell

Credit Card Tips from the Federal Reserve Board: To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at – DB Reader submission via a Marriot Rewards Card invitation

Dominant Social Theme: The Fed cares for you!

Free-Market Analysis: A close friend of ours just received a promo advertising a "Marriot Rewards Cards." She was surprised to find, upon reading the "terms and conditions," a note suggesting a visit to a US Federal Reserve website that would educate her about credit cards generally.

She found the involvement of the Federal Reserve puzzling. We did, too. It wasn't an involvement that we were conscious of – though the Fed "consumer help" website claims to have been in business since 2007. (Should we been? Perhaps so, but we can't keep track of everything!) Here's the "About" statement at the Fed site:

Federal Reserve Consumer Help, launched in 2007, is a centralized operation of the Federal Reserve System that assists consumers in filing complaints involving financial institutions. Our mission is to promptly and courteously guide consumers with complaints about financial institutions to the appropriate agency for help (see how we move a complaint through the process). We also respond to consumer questions about federal consumer protection laws and regulations. You can trust us to value the privacy and confidentiality of any information you give us. Our web privacy policy is posted.

While we were caught by surprise by the ambition of such Fed "help," we were not surprised by the larger ambition. We figure it's part of an obvious elite dominant social theme – an attempt to make the Federal Reserve increasingly seem like part of the US government.

In fact, this has been the brief of those who run the Fed from the beginning. The Fed is a mercantilist entity, deriving its power and authority from a virtual monopoly granted to it by Congress. To maintain that the Fed is a purely private enterprise is just as false as to argue it is a purely public one.

The impulse of those running the Fed is to combine it rhetorically with the federal government whenever possible. That's why this website is a discouraging one.

We believe the Fed should be shut down as soon as possible. Those running the Fed have different ideas. They want to pretend that there is NO space between this entity and the federal government. They want to retain their private status while investing themselves with the absolute authority of the modern state.

The Fed's top honchos are not alone in this effort. Visiting Kenya recently, we saw signs posted at banks that were attributed directly to the Bank for International Settlements warning people against certain kinds of fraud. To see memos directly from the BIS to casual consumers of bank products was startling, to say the least.

The impulse is the same because the same people run both facilities. The Federal Reserve is the most powerful central bank in the world due to the dollar reserve currency it prints – and that others must hold if they wish to purchase oil.

The BIS is perhaps even more powerful than the Fed as it is an aggregator of central banks – the facility that is in charge of the policies and practices of these tremendously powerful entities.
Both the BIS and the Fed – and about 100 or more other central banks – are basically controlled by the Anglosphere power elite, based out of the City of London with various arms in Tel Aviv, the US, the Vatican and Brussels.

It is this power elite that wants to create world government and is funding this extraordinary push via the trillions that central banks throw off.

The Fed has no brief that we know about when it comes to being a consumer watchdog. It is run as a private entity and is basically a bank supervisor, though its brief is constantly expanding. We checked with several sources to see if the Fed had some sort of consumer protection brief of which we were unaware. But it doesn't, so far as we can tell.

In these websites, however, the Fed is surely casting a broad net. In its "consumer help" website, the Fed offers helpful hints on the following subjects: Checking Accounts, Consumer Credit, Consumer Protection Laws, Credit Reports, Small Business, Foreclosures, Home Mortgages, Deposit Insurance, Electronic Banking and Frauds and Scams.

The last item is of interest to us because the Fed should list itself as a target of "frauds and scams." This is what central bank monopoly money printing IS, after all.

Modern central banks always seem to print too much money and one could make an argument that this is their only real function. They are money machines of the elite, intended to create booms and then ruinous busts that allow the elites to gradually centralize power as economies are destroyed.
The monopoly monetary overprinting of fiat tricks businesses and people into overspending. But when the larger market realizes that the prosperity is phony, reality kicks in. Markets plunge and people realize that far from being rich, they are often verging on impoverishment.

Central banking is STILL presented as a necessary part of the modern financial system. But really all central banks do is fix the price and volume of money. Price-fixing never works, so central banks are essentially in the business of distorting economic functions.

Those who run central banks have good reason to want them to appear to be consumer friendly. That's what this current "consumer help" push is all about when it comes to the Fed – and even to the BIS.
It could well be, of course, that this is the shape of things to come as the elites see it. No doubt they want one private central banks supervising EVERYTHING, not just monetary policy. In this sense the current Fed campaign can be seen as a kind of wishful thinking (currently, anyway).

But that day is not yet, and with the job that what we call the Internet Reformation has done on the credibility of central banking, we believe the entire financial complex is in danger of toppling, not expanding.

Conclusion: More and more people – many in the West – don't believe in central banking. Even the soothing websites and calming advice may not be enough to combat such a growing secular apostasy. Too bad ... for them.

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