First I will tell you what the Federal Reserve is NOT.
It is NOT a U.S. Government entity. It is NOT owned by U.S. Citizens or Taxpayers.
Maybe you should read that again.
I run in to people all of the time who don’t know this. I would be willing to be that over 99% of adult Americans are not aware of this. Since it isn’t taught in our wonderful (cough, cough) government schools, it’s no wonder.
Just last week that topic came up on Al Korelin’s radio show as well. And with the lack of transparency – though it was written into the law to be transparent – of the TARP money, I think it becomes even more important to understand how the holders of the levers of power in this country really think and operate.
Many people have written books, dissertations and pontificated about the Federal Reserve and most all of them are more qualified than me to do so.
So rather than try to explain it poorly here, I will point you to the book that most of the experts will point you to:
The Creature from Jekyll Island: A Second Look at the Federal Reserve
I suggest that you buy it and read it.
You will also note many other excellent books recommended along with it.
Happy (or unhappy) reading.
For a monthly report on matters critical to your investments, you may want to take a look at the Casey Report.
