Not just in Stossel’s show but it’s also missed in the general media. That being the value of money or in this case the devaluation of the dollar. So let’s hit the ground running; The Federal Reserve System that America has is a “Central Bank.” This Bank is independent, meaning it’s not a public entity, it’s totally private, yeah you read that right, and this bank controls our money, and since it’s private - we the people - don’t have a clue where it sends the vast trillions it creates.
The Federal Reserve was created in 1913 to “stabilize” the money supply. Well let’s just say its record has been less than stellar in fact the value of the dollar has lost 97% of its face value. Of course “The Fed” has enormous powers that the Congress cannot do, in fact if “The Fed” wants to send billions of American dollars to another country it can, it can literally print - or in this case because of modern technology - manifest the dollars digitally, and send them on their way.
I could literally write pages upon pages about the Federal Reserve and why it’s such a bad system, but because I don’t want to bore you I’ll cut to the chase.
When these billions or trillions of dollars are magically manifested it causes a little thing called inflation. Now if you go on any regular mainstream news network they will all say that inflation is low and there is no need to worry. Really…that isn’t the case. See the Fed calculates “inflation” as the cost of computers and other bits of technology. There’s a major problem with that, inflation doesn’t tackle those markets as fast, why? Because we don’t need them; sure we might think we do, but if your cell phone disappeared tomorrow morning you would still manage to live… right? (I hope so).
Inflation tackles items like food, energy, the cost of living, and savings. You cannot live without food, or energy, (i.e. gas), bottom line. Ask a Mom if they think the cost of living has went down in terms of expense. Prices have gone up, and they will continue too because of the Federal Reserves meddling.
But it doesn’t stop there; see while prices go up, the value of the dollar used to purchase those items go down. The $1 cannot buy you what a $1 was worth a couple of years ago. This is a direct tax on the poorest of Americans, because they now need more dollars to compensate their living standards, (also I will add that their wages do not increase with the rate of inflation).
There’s more too prices and wages than a few American’s becoming millionaires or billionaires, and the others staying poor. Our system is riddled with problems, that if not addressed we will certainly see our economy go further downhill. There are more reasons to question The Fed’s meddling, but I’ve come to the conclusion to just say #EndTheFed.