classical economics
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New Fed Governors?

Consider Roberts, Laffer, Shelton, Paul!

By Wayne Jett © May 11, 2019

     President Trump has two empty seats to fill on the Board of Governors of the Federal Reserve, which is the primary outpost of Rothschild central banks occupying nations of the world. Two presidential nominees recently fell victim to opposition from those who prefer continuation of mercantilist policies promoting inflation alternating with unemployment. Recognizing that anything connected to the Fed is enemy-occupied territory, the president and the nation can benefit by having two capable “friendlies” filling those empty seats.

Obstacles To Economic Reform

     Judging by his choice of David Malpass to become the new president of the World Bank, President Trump understands the urgent need to reform the status quo in managing financial relations among nations. Typically Malpass is more likely persuaded by analysis which applies principles of classical economic theory, sometimes called “theory of the firm,” which seeks to remove or reduce governmental obstacles to success in the private sector.

     Reducing governmental obstacles to success in the private sector is difficult to do in America, as in the rest of the world, for the same reason the obstacles are there in the first place. The obstacles have been created intentionally by the “powerful pecuniary force … which writes laws and molds thoughts … in every nation,” as described by Henry George in 1880. The “powerful pecuniary force,” now commonly called the “global cabal,” creates obstacles to general prosperity in order to provide decisive advantages for the cabal itself, and to advance its central objective: to destroy the middle class entirely.

     The point has been made here previously that America’s economic system is correctly classified as mercantilism – not capitalism. This has been so since at least 1929, and mercantilists have exerted important influences here at all times, certainly including the colonial and early post-colonial periods.

The Dodd-Frank Setbacks

     Thanks to the monster called Dodd-Frank enacted by the Obama Congress in 2010, all banks in the U. S. (including the Too Big To Fail Banks of Wall Street) are now regulated principally by the monster from Jekyll Island (the Fed). The Fed, in turn, is principally owned and controlled by the TBTF Wall Street banks, and thus by the Rothschild families.

     By this stroke of Dodd-Frank, the Wall Street TBTF banks are now essentially self-regulating. What is nearly as bad, in addition, the owners of the Wall Street TBTF banks now hold regulatory authority over their hated enemies: all other banks in America, including the regional and community banks.

     Right out of the box after Dodd-Frank became law, the Fed reduced the lending capacity of smaller banks and increased reserve requirements, severely hurting financing to small and mid-size borrowers and weakening the viability of smaller banks. To relieve somewhat the resulting pain to the smaller banks, the Fed initiated the unprecedented practice of paying interest on reserves.

     By their very nature, reserves are not invested at risk, so reserves cannot produce income from their use. So the Fed pays the interest by creating more fiat currency, which gains its value by reducing the value of all other dollars created – the endlessly functioning inflation machine in action.

The Red Zone Of Economic Reform

     The Federal Reserve is a landmark feature of the mercantilist chokehold on America and the world. To end mercantilism means to end the Fed. Ending the Fed should achieve wonders in washing away the unpardonable infatuation of American academics with mercantilist dogma disguised as Keynesian economic theory.

     The constitutional rights of Americans cannot be secured and suitably advanced without overturning the global cabal’s economic system as it presently exists. Indeed, the deceitful nature of Keynesian economic policy, coupled with the Federal Reserve’s powerful tentacles reaching throughout the nation’s economic life, are major reasons why congressional leaders have openly scoffed at suggestions that the Constitution and the Bill of Rights remain relevant to laws they enact.

     President Trump knows much if not all of this and is moving towards necessary reforms. His agenda may be aided by placing two additional governors on the board of the Federal Reserve to assist his objectives. Prospects for success in his endeavors would likely be increased by selecting nominees from among those with demonstrated concerns for protecting economic interests of the great middle class. Paul Craig Roberts, Arthur B. Laffer, Judy Shelton and Ron Paul are worthy of consideration.