Of the Federal Reserve and the Greater Economy

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The Federal Reserve and its monetary policy is coming under the magnifying glass in the US presidential campaign. Texas Republican Governor Rick Perry, who has taken the lead in polls for the Republican nomination, lashed out at the Fed. Of Fed Chairman Ben Bernanke, Perry said, “If this guy prints more money between now and the election, I don’t know what y’all will do to him in Iowa, but we would treat him pretty ugly down in Texas…Printing more money to play politics at this particular time in American history is almost treacherous, treasonous in my opinion.” In this era of Democratic defined political civility, Perry’s comments drew instant fire from the president’s camp, saying he needed to watch his mouth.

On behalf of the president, White House Press Secretary Jay Carney responded: “When you’re President or you’re running for President you have to think about what you’re saying, because your words have greater impact.  And President Obama and we take the independence of the Federal Reserve quite seriously, and certainly think threatening the Fed Chairman is probably not a good idea.” Later, he was asked what kind of threat was Perry making. Carney said, “I just think that you’ve got to be careful of what you say. The Fed’s independence is important, and that’s really the only thing I was trying to convey.” So it wasn’t really a threat at all, only that the Fed must maintain its independence.

Both Perry and another Texas candidate for president, Ron Paul, are on to something about the Federal Reserve. Article 1 Section 8 of the US Constitution lists the enumerated powers of Congress. Among them are “To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.” Under globalist Democratic president Woodrow Wilson, the Democratic-controlled Congress created the Fed as a central bank, conveying its power of regulating the money to the Fed. The Fed loans money to the government using interest bearing bank notes supported by debt. Simply put, the Fed is laundering our own money back to the government and the citizens get stuck with the debt.

The Fed is the linchpin of the one world order. It folds America into the world banking system and places citizens’ money, property and economy in the hands of global strategists controlled by financiers. Perry made no threat. He only brought attention to a huge factor in our nation’s monetary policy that has enabled bad government. In reality, however, Christians should rest assured of a greater economy as described in Isaiah 9:7, “Of the increase of his government and peace there shall be no end, upon the throne of David, and upon his kingdom, to order it, and to establish it with judgment and with justice from henceforth even for ever.” As for civility, Perry only said printing more money was “almost treacherous, treasonous.” He didn’t call voters who disagree with him “terrorists.”

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By Bill Wilson

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