In response to:

Push the Fed Over the Cliff

Bear Trax Wrote: Dec 03, 2012 5:57 PM
Wrong, Katie. The Federal Reserve doesn't run the printing press the Treasury Dept. does. That doesn't make the fed blameless. Their mandate is to maintain stability in the currency and oversee the member banks Any time you see NA after the bank's name, it means they are "Not Affiliated" with the federal reserve. While the Fed doesn't print the money, they are the vehicle for distribution of it. Lately they have been giving billions to the european countries trying to prop them up and prevent them from having to cut back their government spending. This is all a house of cards, similar to a Ponzi scheme, and it will fail.

Stop worrying about the ‘fiscal cliff.’ Spending cuts would feel therapeutic after watching Standard & Poor's and Egan-Jones downgrade our credit rating and seeing President Obama add $6 trillion to the national debt. The way to avert another recession and massive inflation is to eliminate the unconstitutional Federal Reserve.

There are two ways for politicians to “pay” for their spending. They can be transparent and raise taxes extremely high across all income levels. (This is not happening because politicians know Americans would riot.) Or, they can be sneaky and “monetize the debt,” which means allowing the Federal Reserve to print money...