We have become pawns in the game of Chess being played by the Federal Reserve Bank. Who is their opponent? Anybody else who makes a move.
Week in, week out, everyone’s eyes and ears seem fixed on what the Federal Reserve Board will say or do. Mostly, it is about what they say. That’s because they can’t really do much of anything.
Except inflate the supply of money and credit. Which they have been doing for over one hundred years. And they are good at it, too. The historic erosion in value of the US dollar should merit more acclaim – or outrage. Unfortunately, the Fed is good at shifting the focus of concern to their opponent(s).
In their various statements, members of the Federal Reserve Bank often refer to their policies, decisions, and efforts in ways that make them sound sincere about their attempt to “manage the economy”. And, admittedly, they are sincere in that attempt. The trouble is, it is an impossible task.
The US Federal Reserve has led us down a primrose path by virtue of their self-proclaimed intention to manage and modify the stages of the economic cycle (prosperity, inflation, recession, depression).
….related by Larry Edelson: Why you shouldn’t fear rising interest rates …