Before reading about this, let's first remember the $14.6 T in National Debt that is slowly, but surely, bringing the U.S. Economy to its knees.  Got it?  That's $14.6 T.

Then, let's  remember the size of the U.S. GDP ― the total annual output of goods and  services in the entire national economy.  The GDP is $14.5 T, just slightly less than the current national  debt.

Remember the hated TARP ― $0.63  T in bailouts handed out to financial and other troubled companies (e.g.  GM, Goldman Sachs).

Remember Obama's failed  Stimuls ―  First cost:  $0.79 T in money handed out to....well, who really knows?

Thinking about those really big numbers will help you get some perspective here.  Ask yourself:  "What would be bigger, more ludicrous, and more harmful to the dollar than these follies?  How about  $16 Trillion dollars in secret giveaways by the Federal Reserve funded by simply creating dollars out of thin air?  And, please keep in mind that this $16T is over and above the infamous QE1 ($1.73 T) and QE2 ($0.6 T) in U.S. Treasury Bonds purchased by the  Federal Reserve with dollars created out of thin air.  That's $2.33 T of  our U.S. national debt bought by the Fed under the "Quantitative Easing" programs, which amounted to purchaing Treasury Debt with newly printed dollars.

That means, for those who are still following along, the Federal Reserve has dumped (that's the correct word, you  know), yes, dumped a total of over $18.3 Trillion dollars into the world  economy over and above the huge Federal Spending and TARP programs that we've all been protesting.

Are you finally beginning to understand why the Dollar has declined in value more than 30% in the past year alone? 
The more dollars in circulation against a stagnant GDP, the less each dollar is worth when compared against foreign currencies or the price of commodities and resources.

And, now you see that while we've been focused on Congress and Obama, the Federal Reserve has been doing much greater harm in total secrecy.  They have been literally stealing money from the American People ― from our savings and our purchasing power ― and trying to prop up a crashing world economy.  And we haven't even seen the inflation begin yet!  The terribly sick economy has not allowed very much inflation yet.  When the inevitable inflation kicks in (unless the entire house of cards should fall before that happens, which is a real possibility), our money will be essentially worthless.

And  all this decline is causing the IMF, UN, and other major nations to propose eliminating the Dollar as the unit of international exchange ― i.e. the world reserve currency.  They would replace the Dollar with a "basket" of currencies.  This final nail will trigger Weimar Republic inflation and chaos, bringing about a governmental and economic crisis which will reset the country ― to what?

Back to the original topic, with this perspective, read about the findings from the first-ever audit of the Federal   Reserve.  We owe a debt of gratitude to Ron Paul and Jim DeMint for dragging this garbage into the sunlight so that we can begin to clean up the mess.

Read:  The Fed Audit

Bill  Cochrane

The Congress and the President are out of ammunition (and, after all, they've only been firing blanks anyway, trying to scare up support).  The last "deal" cooked up by the Congressional scam artists was a total sham.  The Debt Ceiling was increased by over two trillion dollars without any cutting at all.  The President now has the power to raise the debt ceiling without any action on the part of Congress at all.  All of the savings, it turns out, were merely paper reductions from the Obama budget proposed last year which even the Democrat-controlled Congress rejected.  The "super Congress" committee can propose virtually anything they want from here on out, and only a minority in both houses is required to allow it to become law.  The bad "deal" resulted in immediate downgrades of, not only the overall U.S. Credit Rating, but also the ratings of Fannie Mae, Freddie Mac, scores of U.S. Banks, and a promise to begin downgrading a number of states.  Oh what a glorious victory that budget deal was for the GOP and the Tea Party (After all, haven't you heard?  This is a Tea Party Downgrade, and the Tea Party terrorists held the whole country hostage!)  Just ignore or forget that the Tea Party wanted Cut, Cap, and Balance ― not more spending and debt!

OK.  Congress can't act their way out of a high school musical, and the President has again resorted to blaming everyone but himself.  He's got no ideas except for more Saul Alinsky attacks on the Tea Party.  We can't expect any more from any of these losers right away.

But now comes the Federal Reserve again!  They're about to have another meeting!  What will they do?  I've got a clue for you ― it's gonna be real bad.  It's going to make the crash, when it comes, a really, really bad crash.  The following article describes their options.  Guess which one they'll choose!

Fed Forced To Consider Fresh Stimulus


Bill Cochrane

The newest quarterly report on the stimulus from Obama’s Council of Economic Advisors released last Friday proves that the Obama Stimulus, supported by Congressman Mike McIntyre, failed at creating jobs and stimulating the economy.  And the new unemployment numbers released today by  the Bureau of Labor which show that our nation’s unemployment rate rose to 9.2%  in the month of June while only 18,000 new jobs were added to the economy last  month.

In fact, the Council’s report shows that the only thing the “stimulus” stimulated was our nation’s skyrocketing debt.  The report states that the stimulus added or saved a little under 2.4 million jobs while costing taxpayers $666 billion. That translates to about $277,500 per job!  $277,500 of our tax money!

As Jeffrey Anderson writes for the Weekly Standard in a review of the report, “the government could simply have  cut a $100,000 check to everyone whose employment was allegedly made possible by the ‘stimulus,’ and taxpayers
would have come out $427 billion ahead.”

While Obama and his stimulus have failed at adding jobs to our economy, the “stimulus” and Obama have added to  one thing:  our national debt.  Including the $666 billion in debt created by the stimulus, our national debt has increased by nearly $5 Trillion since Obama took office to $14.5 trillion.

Anderson further writes that according to the Council’s report “the economy would have added or saved more jobs without the ‘stimulus’ than it has with it.  In comparison to how things would otherwise have been, the ‘stimulus’ has been working in reverse over the past six months, causing the economy to shed jobs.”

Yes, you read that right.  Over the last six months the Obama Stimulus strongly supported by Congressman McIntyre has cost our economy jobs!   And remember, this admission is coming from a report generated by Obama’s own Council of Economic Advisors.   Imagine what an independent review of the impact of the stimulus might find!

Ilario Pantano, Candidate for U.S. Congress