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What does the Federal Reserve do? Theoretically, it has a dual mandate of keeping inflation low and employment high, with the goal of promoting the “effective operation of the U.S. economy”.
It’s “about” page , describing that goal, what it’s supposed to be doing, and how it theoretically does those things, provides that the Fed: conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy;
promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad;
promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole;
f osters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; and
promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations.
Well, former Trump White House advisor Steve Bannon, one of the masterminds of Trump’s 2016 victory and the man behind most of Trump’s more New Right-type policies, has a different perspective on what the Federal Reserve has really been up to: in his view, it’s a tool that a small coterie of bankers have used to enrich themselves at the public’s expense.
According to him, the Federal Reserve has usurped the power of the American people and has worked as a small cabal of bankers to funnel assets from the lower and middle class to the unfathomably wealthy oligarchs.Further, according to Bannon, the time has come not to audit the Federal Reserve and find out what balance sheet […]
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We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
We need help. I don’t want to say “desperately,” but the need is definitely great. If you have the means, please donate through our GivingFuel page, PayPal, or our Substack page. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker