Federal Reserve's Explicit Goal: Devalue the Dollar

[Taft2016]

This has been going on for nearly two years. Apparently everyone is not aware of it. To put it simply; If you are planning to retire this year and live on a fixed income, that fixed income will be worth 33% less in 20 years. That's the Fed's explicit plan. It's not a theory, or a partisan concoction. It's the stated and explicit goal of the Fed.

When what you have is worth less, what is also worth less? Answer: the national debt. So they are going to wipe out 1/3 of your lifetime of accumulated wealth, that you built up for your golden years, to cover political asses and a debt you did not amass.

http://www.forbes.com/sites/charlesk...the-dollar-33/

The Federal Reserve Open Market Committee (FOMC) has made it official: After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years. The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level.

An increase in the price level of 2% in any one year is barely noticeable. Under a gold standard, such an increase was uncommon, but not unknown. The difference is that when the dollar was as good as gold, the years of modest inflation would be followed, in time, by declining prices. As a consequence, over longer periods of time, the price level was unchanged. A dollar 20 years hence was still worth a dollar.

But, an increase of 2% a year over a period of 20 years will lead to a 50% increase in the price level. It will take 150 (2032) dollars to purchase the same basket of goods 100 (2012) dollars can buy today. What will be called the “dollar” in 2032 will be worth one-third less (100/150) than what we call a dollar today.

The Fed’s zero interest rate policy accentuates the negative consequences of this steady erosion in the dollar’s buying power by imposing a negative return on short-term bonds and bank deposits. In effect, the Fed has announced a course of action that will steal — there is no better word for it — nearly 10 percent of the value of American’s hard earned savings over the next 4 years.

[canceled.2021.1]

this is truly a scheme to transfer wealth from the middle class to the rich. but some see a bright shiny object in a rising DOW so don't pay attention to how they are being robbed.

When it collapses, and it will collapse, these types of things ALWAYS do, it will be bloody.

There isn't one society that has tried this kind of thing and been successful in the long run. It might work for a short period of time, but economics is like physics. Its laws are immutable and not subject to the whims of man

[Taft2016]

Actually, I don't think it's a transfer of wealth from the middle class to the wealthy. I think it's a general campaign against all accumulated wealth, with a goal to push the "restart" button on our society and rebuild with a wealth distribution more in line with what progressives would consider "fair."

IOW: "fundamentally transform" our country.

[evince]

http://www.federalreserve.gov/newsev.../20131218a.htm


which part says what you claim?

[evince]

http://www.thegoldstandardnow.org/charles-kadlec-bio

con alert on your articles author



Charles W. Kadlec is a columnist for Forbes.com, a member of the Board of Advisors of The Gold Standard Now, a member of the Economic Advisory Board of the American Principles Project, an initiative founded in 2009 by Professor Robert George of Princeton University, a juror for the Bastiat Prize for Journalism, and the founder of a Community of Liberty, whose mission is to inculcate the habits and virtues of living in liberty

[evince]

http://www.americanprinciplesinaction.org/

[canceled.2021.1]

http://www.federalreserve.gov/newsev.../20131218a.htm


which part says what you claim?

[evince]

http://en.wikipedia.org/wiki/Bastiat_Prize

[canceled.2021.1]

http://www.thegoldstandardnow.org/charles-kadlec-bio

con alert on your articles author



Charles W. Kadlec is a columnist for Forbes.com, a member of the Board of Advisors of The Gold Standard Now, a member of the Economic Advisory Board of the American Principles Project, an initiative founded in 2009 by Professor Robert George of Princeton University, a juror for the Bastiat Prize for Journalism, and the founder of a Community of Liberty, whose mission is to inculcate the habits and virtues of living in liberty

why are you commenting on things you don't understand?

Another shining example of Deshy Dearest putting party over principle. The only demographic who has benefitted from fed policy is the uber rich. But, as long as Obummer is benefitting, you keep your head in the sand. God you are stupid

[evince]

well nice try but that is not contained in the statement

It also does not contain what your idiot con man writer says