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PBS Drops Bombshell on 100th Anniversary of the FED!

James Grant & Richard Sylla - The Great Fed Debate!


Wall Street on Parade: PBS Drops a Bombshell on the Federal Reserve’s 100th Birthday Party ~ PBS promised a “debate” this past Friday night on the “benefits and dangers” of the Federal Reserve as the Fed marks its 100 years of existence tomorrow. Instead of a debate, two famous stock market historians made the same stunning announcement – that the Fed has decided its job is to push up the stock market.

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Wall Street on Parade: PBS Drops a Bombshell on the Federal Reserve’s 100th Birthday Party

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Are you kidding me? Consuela goes through this whole interview

then ends it by saying the FEDERAL RESERVE is "transparent" more than ever. Just go to their website and you can learn all you want. Is she kidding me? What an idiot.

She cut off Jim Grant from saying the Federal Reserve has a "front door" to Wall Street, not a back door. I heard him when this was cut off, but I heard it! He is right.

To think, though, that Congress is going to ask an "honest question" or a "common sense question"---as Grant suggested---is absolutely ludicrous. The Congress & Senate are all bought & paid for shills. He thinks they might ask a common sense question when they don't even read their friggin' bills before passing them? Right!

I don't think so. None of our legislators are serving us or will EVER serve us. They are doing just enough to keep us in our place, to quell the masses, and to appease them. Nothing more, nothing less. My ONLY hope is that they will get so far extended with all their little financial plots & plans & murder schemes that their HEAD BUBBLE bursts, and all will come tumbling down around them.

Not only that, the Federal Reserve distorts the price index!

They routinely distort the entire price index for metal..


"For seven years GATA has discovered one piece of evidence after another supporting our long-held contention that the gold market is managed by certain central banks and their agents, the bullion banks. It is a price-fixing case involving some very powerful people and institutions … in fact it is a Gold Cartel. The U.S. attorney handling the Samsung conspiracy conviction said in an interview this fall that the United States had experienced an "epidemic" of price-fixing cases in the late 1990s. All GATA has done is uncovered one of them, the grandest of all.

For one to appreciate how this can go on and on and not be brought to the attention of the public, one need only to reflect on Enron and Refco. Before its initial public offering of stock, Refco was audited by the most highly regarded firms on Wall Street and nothing wrong was discovered. Yet look at what was really transpiring behind the scenes. Now the company is bankrupt and under criminal investigation.

That said, GATA does have its "smoking gun." It has to do with derivatives and central bank gold. The mainstream gold world says the central banks have nearly 32,000 tonnes of gold in their vaults (minus a small amount that has been sold in recent years or is on loan to gold producers for their hedging operations)."

Now that it is proven, lets have this debate nationwide.

It's interesting that there was no mention of

The petrodollar nor the repeal of Glass-Steagall

Maybe the best MSM discussion

Maybe the best MSM discussion on the Fed I've ever seen. Thx!

I must be willing to give up what I am in order to become what I will be. Albert Einstein

If they manipulate interest rates, they can manipulate gold easy

Proven in stark detail with all charts included!!!

Lets have that debate nationwide without delay..

Informative, Grant is awesome

Ending the Fed should be the number one priority of the Liberty movement.

We need a simple to understand commodity model to hold up as a better way. Are we just waiting for a collapse?

We have these budget fights, and the enabler doesn't even come up!

Uh Oh

I think old Jimmy boy has a crush on Consuela. He is very charming indeed.

Hall of Mirrors


We live in a hall of Mirrors - Jim Grant

Immoral funding of Military Industrial Complex by Federal Reserve and US taxation system must stop!!!! End illegal/unconstitutional wars! Preserve US currency!

FiresofFreedom's picture

Ron Paul had good taste in federal reserve chairmen

To think this man would have been in the seat besides Yellen, it would've made a lot more people sleep better at night.

fireant's picture

The real problem is we send our money to the same entity

that controls it's value. The founders took care to ensure we don't get caught in that snare by declaring direct taxes shall be apportioned among the states; thus enemies of liberty suckered through the 16th and 17th Amendments, as well as the Fed Reserve Act, all at the same time, and destroyed that vital defense against tyranny.

Undo what Wilson did

DailyPaul Member discovers 20 charter expirred in 1933.

SR 118 Fed's 100 Year Charter, by Bill Still. Transcript included with YoutTube video (part with DailyPaul reference. 20 year charter reference that was set to expire at the end of 1933. Also the perpetual extension to the charter written into a 1927 law; explained in Congressional notes. Yes, the Fed is explicitly stated to be a corporation with original end date planned for 1933 (but not written into the actual 1913 law; expiration was implied & customary. Corporate charters implicitly ended in 10 years. Special term with set for longer charters. Both U.S. First & Second National Bank charters explicitly ended in 20 years. Here is Bill Stills research, including a DailyPaul reference to an explicit legal statute, sections of pertinent law, & U.S. Senate notes on the passage of this law. Even discussion on the Congressional notes that clarify amendments to extend the 20 term of the Federal Reserve System.

Transscript, :
first thing I open my wife's email blank
2:27 and there was on the DailyPaul discussion forum
2:31 a guy named Samuel had all ask at this very question and Judah
2:36 2010 it wasn't answered until July
2:40 the next year by a guy named are ban
2:44 he named the federal statute
2:47 passed on February twenty-fifth 1927
2:51 this was too good to be true it didn't take long to find both the original
2:57 1913 Federal Reserve Act taxed as well as all subsequent revisions
3:03 now I understand why this was so difficult
3:07 there's no header in saint irma charter and the original law
3:11 or words to that effect it's buried in the legalese
3:16 now before we go on notice that the
3:19 very law that form the pad admits
3:22 that it is a private corporation section four of the original law states
3:29 upon the filing of the organization certificate
3:33 with the country roller up the currency the Federal Reserve Bank
3:38 show become a body corporate and as such
3:41 shall have power to have succession
3:45 for a period of 20 years from its organization
3:48 unless it is sooner dissolved by an active congress
3:52 or unless its franchise becomes forfeited
3:55 by some violation of the law succession
4:00 what's that it means that even though the political parties and power may
4:05 change
4:06 the banks corporation would secede itself
4:10 remain in force for twenty years
4:14 but only thirteen years later the Fed was deeply involved in blowing up a huge
4:19 currency bubble
4:20 with its new found power knowing that the bubble was destined to pop at some point
4:27 and that they would be blamed the Fed decided to encourage Congress
4:31 to Amanda their charter seven years early
4:36 the law that actually change this is much more obscure
4:40 in fact you can only understand it if you happened to be lucky
4:44 like I was when the bill was passed by the Senate
4:48 the Senate wrote a report explaining why they passed the bill
4:52 and send it to the house-senate conference committee to iron out the
4:56 differences
4:57 this report explains the relevant section Section 20
5:02 and language that even I can understand
5:06 section twenty is designed to permit the indeterminate existence
5:11 up the charters the Federal Reserve Banks
5:15 the existing charters expire in 1934

5:19 your committee feels that the time is appropriate
5:22 for Congress to give this assurance... permanence
5:26 to the Federal Reserve System

5:29 however if you were just reading the 1927 bill as passed
5:34 you would never catch the meeting up the final wording

5:37 in the aforementioned section 20
5:42 section twenty that the second subdivision up the fourth paragraph of
5:46 section four
5:47 up the Federal Reserve Act be amended to read as follows:
5:52 to house a session after the approval of this Act until dissolved by
5:56 active congress or until forfeiture a franchise for a violation of the law

6:03 and that was the aha moment that's why this has been such a mystery for all
6:08 these years
6:10 the wording up the 1927 law is
6:13 absolutely inscrutable and less you read the senate's explanation

6:18 to the conference committee so this is where it stands today
6:23 the Fed can only be dissolved by it active congress
6:27 or forfeiture up franchise for violation
6:30 of the law. Now of course it certainly can be
6:34 argued that they have forfeited their duty to uphold
6:38 their trip home and ate up promoting maximum employment
6:42 stable prices and moderate long-term
6:45 interest rates that would be a losing argument
6:48 on all three counts but I'll leave that for another day.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Ron Paul @ 22:30

Ron Paul reference at the 22:30 mark

All other things being equal, new money creation drives up

the price of something.

What determines what that something turns out to be are cyclical forces, i.e, swings in perceptions of relative values.

Back in 2000 - 2001 the perception of the value of gold and silver was that they were of low value. Silver was under $5 an ounce and gold was under $300. The perception gradually changed and the prices rose into 2011 when that perception again changed.

Today one indicator of the value of the stock market is the Nasdaq Composite index which is currently 4,142. A complex analysis of the multiple cyclical forces (hundreds of them identifiable in the historic data) that influence this value does indicate that by the summer of 2015 this value will be driven up to near 9,000, and at the same time the value of silver and gold will be driven down to under $5 and $300 respectively. After the summer of 2015 the Nasdaq Composite index should enter a long decline down to 2,000 by the end of 2019.

The FED will supply the fuel; cyclical forces will drive where this fuel is used or not used to drive prices up or down. The stock market is simply becoming more fashionable for the next 18 months.

Without the FED creating credit out of thin air, the cyclical forces would still influence prices, just not to the supercharged extent that easy monetary expansion allows.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.



That's all I have to say about that.

These are the types of discussions that need to be happening.

Convincing the intellectuals is a major step towards realizing corrective actions.

"It's time to get back to an honest dollar!" Ike Eisenhower 1952

21 seconds.

"It's time to get back to an honest dollar & and honest donllar's worth." - President Ike Eisenhower answers America, 1952.

TV ad for Eisenhower on the high cost of living, 1952 presidential election.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Smith: “Take an account with a $100,000 balance and reduce it

by 2 percent a year. At the end of 50 years, that 2 percent annual charge would subtract $63,000 from your account, a loss of 63 percent, leaving you with just a little over $36,000.”

You can prove the point to yourself. Pull up a compounding calculator on line. Assume an account with a $100,000 balance and compound it at 7 percent for 50 years. That would give you a return of $3,278,041.36. Now change the calculation to a 5 percent return (reduced by the 2 percent annual fee) for the same $100,000 over the same 50 years. That will deliver a return of $1,211,938.32. That’s a whopping difference of $2,066,103.04 – the same 63 percent reduction in value in Smith’s example."

Ron Swanson

Not realistic...

I just checked my 401k and I am only paying .05% in fees. I don't know who would be stupid to pay 2% in fees. Besides, most employers match contributions, so you easily make back the fees and then some. My 401k is steadily making me wealthy.

Your 401K is going to leave

Your 401K is going to leave you without any retirement if retirement is more than 5 years out. Good luck buddy.

"In reality, the Constitution itself is incapable of achieving what we would like in limiting government power, no matter how well written."

~ Ron Paul, End the Fed

Realistic? ... Who knows? ... 1% to 2%? Does Forbes even know?

Automatic 401K Balancing.


Average 401K annual fee 1% to 2%. -- Forbes, 2013.

On average fees and expenses range between 1 to 2 percent, depending on the size of the plan (how many employees are covered) and the employees’ allocation choices (index funds versus actively managed funds), says LIMRA.

Looking at the total plan expenses, including administrative and record-keeping fees, the 401(k) Averages Book found that the average total expense for a small plan in 2012 was 1.46%, with a range between a low of 0.38% and a high of 1.97%. Investment fees continued their downward trend. Small plan average investment expenses declined from 1.38% in 2011 to 1.37% in 2012, and large plan average investment expenses declined from 1.05% to 1.00%.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

For those that go straight to the roller-coaster @ the fair.

Armageddon Roller-Coaster Tickets

  • Taxpayers = $17 trillion (pre-approved loan)
  • Everybody else = Free!

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

"They materialized $2 trillion..." - Comment on narfarious Fed

Published on Dec 20, 2013. YouTube Summary paragraph: 12/23/2013 the 100th anniversary of the creation of the Federal Reserve. Is the Fed a cause for celebration or condemnation? Has the Fed, as Ben Bernanke said, "come full circle back to the original goal of preventing financial panics? Two financial historians, James Grant and Richard Sylla, debate the benefits and dangers of the Fed and explore its history... WEALTHTRACK #1026 Broadcast on December 20, 2013

Ms Mack, Hostess. Public Broadcasting System (PBS; aka: Public BS "If you talk to most people on Wall Street... & in the country, they feel that without the Fed, we would have had Armageddon!"

James Grant, on the Fed @ 22:08 mark: "They materialized $2 trillion in the past two to six weeks..."

Richard Sylla on U.S. Policy @ 23:10 minute mark: "It seems to be... official U.S. policy that the stock market goes up."

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Video link

Interesting, Jim Grant is awesome. Here's the actual video-


Check out http://ronpaulforums.com for activism and news.

Woodrow took advantage of Congress being on Christmas vay-kay

That is when all the presidents sneak in their evil doings.

No body

Should be allowed in the house or senate while they are on vacation, and they should all go at the same time. The president and any of his demons should be confined to the White House.

My Comment Is:

As a long time stock trader, only certain stocks are being pushed upward.
Manufacturing, mining, and most real production orientated stocks are in the doldrums, and have been for a long time.


Here Is A Link To Mr. Nixon's Price Control Scheme In The 1970's

Please scroll below the video to see the results of Mr. Nixon's scheme:



For those who don't want to give the kos traffic

Here's an alternative site:

I will NEVER read the daily kos - I don't care what it is. That's just me! :-)

If Tyranny and Oppression come to this land, it will be in the guise of fighting a foreign enemy.
James Madison

Thanks for the alternate

Thanks for the alternate link. I agree completely...don't like to give DK and traffic.

"Villains wear many masks, but none as dangerous as the mask of virtue." - Washington Irvin