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