‘Economic Circus’

Operating on a fractional reserve basis, the Federal Reserve Bank is empowered to create money on its own credit. Or, out of thin air.

Janet Yellen, the woman in charge of the larder and the laundering, has opted to keep “its interest-rate guidance intact on Wednesday, passing up an opportunity to inch closer to exiting its ultra easy monetary policy,” reported the Wall Street Journal.

“An economic circus,” counters Ron Paul: one person determines the money supply and the interests rates which affect us all in what is a crisis of debt.

Audit the Fed, a Paul initiative, has just passed in Congress, but other than shine some light on the “shenanigans”—the monkeying with the money done by the Fed—any initiative by a corrupt legislature is likely futile in the long run.

Abolish both Fed and Congress.